First Seacoast Bancorp, Inc. (NASDAQ: FSEA)

Sector: Financial Services Industry: Banks - Regional CIK: 0001943802
Market Cap 53.76 Mn
P/B 0.85
P/E -24.82
P/S 3.64
ROIC (Qtr) 3.35
Div Yield % 0.00
Rev 1y % (Qtr) 19.76
Total Debt (Qtr) 51.75 Mn
Debt/Equity (Qtr) 0.82

About

First Seacoast Bancorp, Inc., also known as First Seacoast Bank, operates primarily in the financial services industry, with a focus on savings and loan holding. The company is headquartered in Dover, New Hampshire, and has a long-standing history of serving the Seacoast region of New Hampshire and southern Maine. First Seacoast Bank generates revenue through a variety of products and services, including deposit accounts, loans, and investment management services. The company's main business activities include providing a range of loans, including...

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Price action

Investment thesis

Bull case

  • Strong tangible asset base of 609.63M provides 11.78x coverage of total debt 51.75M, indicating robust asset backing and low credit risk.

Bear case

  • Operating cash flow of (683000) barely covers its investment activities of (6.80M), with a coverage ratio of 0.10, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • The company's operating cash flow of (683000) shows concerning coverage of stock compensation expenses of 1.02M, with a -0.67 ratio indicating potential earnings quality issues.
  • Free cash flow of (902000) provides weak coverage of capital expenditures of 219000, with a -4.12 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (683000) provides minimal -7.59x coverage of tax expenses of 90000, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Operating earnings of (2.08M) show weak coverage of depreciation charges of 324000, with a -6.41 ratio indicating high capital intensity and potential reinvestment needs.

Peer comparison

Companies in the Banks - Regional
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 USB Us Bancorp \De\ 84.44 Bn 12.40 3.25 77.98 Bn
2 PNC Pnc Financial Services Group, Inc. 84.36 Bn 13.61 3.73 62.34 Bn
3 NU Nu Holdings Ltd. 81.47 Bn 32.21 5.79 4.49 Bn
4 NWG NatWest Group plc 66.53 Bn 9.88 3.05 169.04 Bn
5 TFC Truist Financial Corp 64.60 Bn 13.18 3.53 71.11 Bn
6 MTB M&T Bank Corp 32.73 Bn 12.47 3.60 14.99 Bn
7 FITB Fifth Third Bancorp 31.96 Bn 14.15 3.93 18.94 Bn
8 FCNCA First Citizens Bancshares Inc /De/ 28.98 Bn 12.78 3.26 40.00 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.17 0.14
EV to Cash from Ops. EV/CFO -155.20 7.21
EV to Debt EV to Debt 2.05 5.20
EV to EBIT EV/EBIT -51.06 14.98
EV to EBITDA EV/EBITDA -60.50 8.92
EV to Free Cash Flow [EV/FCF] EV/FCF -117.52 8.87
EV to Market Cap EV to Market Cap 1.97 1.04
EV to Revenue EV/Rev 7.19 -3.76
Price to Book Value [P/B] P/B 0.85 1.17
Price to Earnings [P/E] P/E -24.82 15.63
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 271.44
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 35.28
Dividend per Basic Share Div per Share (Qtr) 0.00 0.89
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 34.52
Interest Coverage Interest Coverage 0.00 -0.05
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -103.06 -73.15
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 18.50 15.78
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 5.32
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 75.31 110.93
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 55.28 38.80
EBIT Growth (1y) % EBIT 1y % (Qtr) 52.15 61.46
EBT Growth (1y) % EBT 1y % (Qtr) 52.15 61.37
EPS Growth (1y) % EPS 1y % (Qtr) 73.26 76.34
FCF Growth (1y) % FCF 1y % (Qtr) -120.11 161.72
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 29.53 14.15
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.02 0.04
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.26
Cash Ratio Cash Ratio 0.00 0.00
Current Ratio Current Ratio 0.00 0.01
Debt to Equity Ratio Debt/Equity (Qtr) 0.82 0.53
Interest Cover Ratio Interest Cover Ratio 0.00 -0.05
Times Interest Earned Times Interest Earned 0.00 -0.05
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -11.90 147.97
EBIT Margin % EBIT Margin % (Qtr) -14.07 155.41
EBT Margin % EBT Margin % (Qtr) -14.07 154.66
Gross Margin % Gross Margin % (Qtr) 100.00 97.82
Net Profit Margin % Net Margin % (Qtr) -14.70 115.63