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TheStreet Open House

Northrim BanCorp Inc
NRIM : NASDAQ : Financial
$24.56 0.14 | 0.55%
Today's Range: 24.43 - 24.56
Avg. Daily Volume: 16,700
09/02/14 - 9:45 AM ET

Financial Analysis


NORTHRIM BANCORP INC's gross profit margin for the second quarter of its fiscal year 2014 has increased when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.

During the same period, stockholders' equity ("net worth") has increased by 11.99% from the same quarter last year.

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Income Statement Q2 FY14 Q2 FY13
Net Sales ($mil)17.8415.14
EBITDA ($mil)10.197.89
EBIT ($mil)9.587.33
Net Income ($mil)4.373.5


Balance Sheet Q2 FY14 Q2 FY13
Cash & Equiv. ($mil)97.88107.49
Total Assets ($mil)1355.691164.85
Total Debt ($mil)40.5245.51
Equity ($mil)156.77139.98


Profitability Q2 FY14 Q2 FY13
Gross Profit Margin103.6596.63
EBITDA Margin57.0852.08
Operating Margin53.6848.42
Sales Turnover0.050.05
Return on Assets0.971.15
Return on Equity8.49.57
Debt Q2 FY14 Q2 FY13
Current Ratio0.00.0
Debt/Capital0.210.25
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q2 FY14 Q2 FY13
Shares outstanding (mil)6.836.52
Div / share0.170.15
EPS0.630.53
Book value / share22.9521.49
Institutional Own % n/a n/a
Avg Daily Volume16954.014452.0

Valuation


BUY. This stock's P/E ratio indicates a discount compared to an average of 17.25 for the Commercial Banks industry and a discount compared to the S&P 500 average of 19.80. Conducting a second comparison, its price-to-book ratio of 1.06 indicates a significant discount versus the S&P 500 average of 2.74 and a discount versus the industry average of 1.19. The current price-to-sales ratio is well above the S&P 500 average and above the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, NORTHRIM BANCORP INC proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
NRIM 12.41 Peers 17.25   NRIM 11.91 Peers 12.13

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

NRIM is trading at a significant discount to its peers.

 

Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

NRIM is trading at a valuation on par to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
NRIM 9.62 Peers 41.80   NRIM 0.97 Peers 1.23

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

NRIM is trading at a significant discount to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

NRIM trades at a discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NRIM 1.06 Peers 1.19   NRIM -3.93 Peers 16.21

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

NRIM is trading at a discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, NRIM is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
NRIM 2.69 Peers 2.29   NRIM 2.33 Peers -5.84

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

NRIM is trading at a premium to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

NRIM has a sales growth rate that significantly exceeds its peers.

 

 

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