Overall Score

Revenue Model

Net interest income remains the core revenue engine, with gross profit margin at 66.3% and price-to-sales at 2.74x indicating a stable but not high-growth banking model.

Dividend income remains meaningful, with a 5.06% dividend yield and dividend per share of $0.80 supporting shareholder returns.

Profitability

Profitability is solid but modest, with net profit margin at 18.1%, return on equity at 8.1%, and return on assets at 0.9%.

Operating efficiency remains acceptable, with EBIT margin at 15.9% and fixed asset turnover at 5.84x.

Capital Efficiency

Capital efficiency is weak, with return on invested capital at 0.6% and return on capital employed at 0.8%.

Asset turnover is low at 0.05x, reflecting the balance-sheet-heavy nature of the business.

Balance Sheet Funding

Leverage is manageable but meaningful, with debt-to-equity at 0.44x and debt-to-assets at 5.0%.

Liquidity is tight, with a current ratio of 0.93x and negative working capital of $22.5M, though cash per share of $14.12 provides support.

Business Quality Resilience

The franchise shows decent earnings quality, with income quality at 1.00x and a cash conversion cycle of 14.1 days.

Coverage metrics are mixed, with interest coverage at 0.57x and debt service coverage at 0.15x, indicating limited cushion if earnings weaken.