企業概要
Westamerica Bancorporation is a bank holding company that manages the operations of Westamerica Bank, offering a comprehensive array of banking products and services tailored for both individual consumers and commercial clients across the United States. The firm operates within the Financial Services sector, specifically classified under the Banks - Regional industry, positioning it as a key player in the regional banking landscape where it serves local businesses and professionals. The company currently maintains a market capitalization of $1.31B and employs 608 individuals to support its nationwide operations. With a reported annual revenue of $258.40M, the valuation metrics indicate that Westamerica Bancorporation is a mid-sized regional entity, reflecting a scale that allows it to compete locally while remaining sensitive to regional economic conditions.
財務健全性
The company reported a trailing twelve-month revenue of $258.40M and generated net income of $116.17M, while EBITDA data is not available in the provided records. The substantial gap between the total revenue figure and the net income reveals a cost structure where operating expenses consume a significant portion of top-line earnings, leaving a profit margin of 45.0% after all costs are accounted for. While the free cash flow metric is not disclosed, the availability of $567.80M in cash reserves suggests a strong liquidity position that provides inherent financial flexibility for operational needs. The margin analysis shows a gross margin of 0.0%, which is typical for banking institutions where the cost of funds is largely offset by interest income rather than traditional product margins, yet an operating margin of 61.2% indicates highly efficient management of administrative and overhead costs. When comparing total assets, the company holds $567.80M in cash against $159.50M in debt, resulting in a debt-to-equity ratio that is not explicitly quantified but implies a conservative balance sheet given the high cash buffer. The current ratio is not provided, so a direct assessment of short-term liquidity relative to current liabilities cannot be calculated from the available data points. Return on Equity stands at 12.7%, demonstrating effective utilization of shareholder capital, while Return on Assets is 1.9%, indicating the overall efficiency of the bank's asset portfolio in generating profits relative to its total asset base.
バリュエーション評価
The trailing twelve-month P/E ratio is 11.88, whereas the forward P/E is projected at 12.79, implying that the market expects earnings growth to be modest or that the current valuation already prices in a slight expansion of future profitability. The price-to-book ratio is 1.42, indicating that the market values the company at 142% of its book value, which suggests a premium over the net asset value typically seen in traditional regional banking stocks. Alternative valuation metrics include a price-to-sales ratio of 5.06, while the EV/EBITDA multiple is not available for comparison, yet the price-to-sales figure highlights the revenue quality relative to the stock price. The stock has traded between a 52-week high of $54.03 and a 52-week low of $42.00, and without the current share price, the exact percentage distance from these bounds cannot be calculated, but the range defines the recent volatility envelope for the security. With a beta of 0.56, the stock exhibits lower price volatility relative to the broader market, suggesting it may be less sensitive to general market swings compared to large-cap equities.
Growth & Income
Revenue growth year-over-year declined by 9.0%, while earnings growth year-over-year decreased by 5.8%, indicating that earnings are shrinking at a slower rate than revenue, which often suggests an improvement in operational efficiency or margin expansion despite the top-line contraction. The company offers a dividend yield of 3.4% and maintains a payout ratio of 40.3%, which is a sustainable level given that the payout is less than half of the generated net income, providing a steady income stream for shareholders. The decline in both revenue and earnings growth rates reflects the challenging macroeconomic environment or specific regional headwinds affecting the bank's loan book and deposit gathering capabilities. Overall, the growth and income profile presents a mix of moderate dividend income supported by a conservative payout structure, balanced against negative growth trajectories in the short term.