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Northrim BanCorp Inc
NRIM : NASDAQ : Financial
$24.20 0.04 | 0.17%
Today's Range: 24.10 - 24.31
Avg. Daily Volume: 19,000
07/22/14 - 12:22 PM ET

Financial Analysis


NORTHRIM BANCORP INC's gross profit margin for the first quarter of its fiscal year 2014 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased.

During the same period, stockholders' equity ("net worth") has increased by 5.62% from the same quarter last year.

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Income Statement Q1 FY14 Q1 FY13
Net Sales ($mil)14.4114.23
EBITDA ($mil)6.876.65
EBIT ($mil)6.366.1
Net Income ($mil)2.662.67


Balance Sheet Q1 FY14 Q1 FY13
Cash & Equiv. ($mil)108.84102.53
Total Assets ($mil)1203.571151.16
Total Debt ($mil)40.6438.64
Equity ($mil)145.79138.03


Profitability Q1 FY14 Q1 FY13
Gross Profit Margin96.9595.22
EBITDA Margin47.6946.72
Operating Margin44.1142.86
Sales Turnover0.050.05
Return on Assets1.021.13
Return on Equity8.449.45
Debt Q1 FY14 Q1 FY13
Current Ratio0.00.0
Debt/Capital0.220.22
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q1 FY14 Q1 FY13
Shares outstanding (mil)6.546.51
Div / share0.170.15
EPS0.40.41
Book value / share22.321.19
Institutional Own % n/a n/a
Avg Daily Volume19205.011030.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 27.53 for the Commercial Banks industry and a discount compared to the S&P 500 average of 19.42. Conducting a second comparison, its price-to-book ratio of 1.08 indicates a significant discount versus the S&P 500 average of 2.68 and a discount versus the industry average of 1.24. 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 12.98 Peers 27.53   NRIM 16.24 Peers 8.71

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.

 

Premium. 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 significant premium 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 10.73 Peers 13.10   NRIM NM Peers 1.59

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

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

 

Neutral. 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's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NRIM 1.08 Peers 1.24   NRIM -6.54 Peers 39.36

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 2.67 Peers 2.52   NRIM -1.66 Peers -1.60

Average. 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 valuation on par with its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

NRIM significantly trails its peers on the basis of sales growth

 

 

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