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FFBC - First Financial Banc...

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First Financial Bancorp.

FFBC

NASDAQ

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers. It also provides real estate loans secured by residential property, such as one to four family residential housing units or commercial property comprising owner-occupied and/or investor income producing real estate consisting of apartments, shopping centers, or office buildings; commercial and industrial loans for various purposes, including inventory, receivables, and equipment; consumer loans comprising new and used vehicle loans, second mortgages on residential real estate, and unsecured loans; and home equity lines of credit. In addition, the company offers commercial financing to the insurance industry, registered investment advisors, certified public accountants, indirect auto finance companies, and restaurant franchisees. Further, it provides a range of trust and wealth management services; and lease and equipment financing services. As of December 31, 2021, the company operated 139 full service banking centers, 29 of which are leased facilities. It operates 62 banking centers in Ohio, three banking centers in Illinois, 62 banking centers in Indiana, and 12 banking centers in Kentucky. First Financial Bancorp. was founded in 1863 and is headquartered in Cincinnati, Ohio.

22.12 USD

-0.76 (-3.44%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

117.01M

151.31M

209.39M

261.28M

314.5M

403.23M

516.99M

662.84M

849.84M

1.09B

Revenue %

-

29.31

38.38

24.78

20.37

28.21

28.21

28.21

28.21

Ebitda

23.09M

13.55M

17.01M

45.83M

49.81M

56.6M

72.57M

93.04M

119.29M

152.95M

Ebitda %

19.73

8.95

8.12

17.54

15.84

14.04

14.04

14.04

14.04

Ebit

19.52M

8.43M

9.9M

36.36M

39.36M

43.07M

55.23M

70.81M

90.78M

116.39M

Ebit %

16.68

5.57

4.73

13.92

12.52

10.68

10.68

10.68

10.68

Depreciation

3.57M

5.12M

7.11M

9.47M

10.45M

13.53M

17.35M

22.24M

28.51M

36.56M

Depreciation %

3.05

3.38

3.4

3.62

3.32

3.36

3.36

3.36

3.36

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

24.91M

28.53M

28.74M

41.96M

54.28M

70.31M

90.15M

115.58M

148.19M

190M

Total Cash %

21.29

18.85

13.73

16.06

17.26

17.44

17.44

17.44

17.44

Receivables

38.88M

41.73M

43.21M

31.89M

45.92M

87.3M

111.93M

143.5M

183.99M

235.9M

Receivables %

33.23

27.58

20.63

12.21

14.6

21.65

21.65

21.65

21.65

Inventories

65.12M

1

-10.91M

-

-

40.68M

52.15M

66.87M

85.73M

109.92M

Inventories %

55.65

0

-5.21

-

-

10.09

10.09

10.09

10.09

Payable

9.42M

14.95M

17.6M

16.4M

26.58M

33.12M

42.46M

54.44M

69.8M

89.49M

Payable %

8.05

9.88

8.41

6.28

8.45

8.21

8.21

8.21

8.21

Cap Ex

-10.37M

-15.41M

-12.61M

-12.16M

-979k

-24.22M

-31.05M

-39.81M

-51.04M

-65.44M

Cap Ex %

-8.86

-10.18

-6.02

-4.65

-0.31

-6.01

-6.01

-6.01

-6.01

Weighted Average Cost Of Capital

Price

107.72

Beta

Diluted Shares Outstanding

38.3M

Costof Debt

12.02

Tax Rate

After Tax Cost Of Debt

7.83

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

61.07M

Total Equity

4.13B

Total Capital

4.19B

Debt Weighting

1.46

Equity Weighting

98.54

Wacc

10.64

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

117.01M

151.31M

209.39M

261.28M

314.5M

403.23M

516.99M

662.84M

849.84M

1.09B

Ebitda

23.09M

13.55M

17.01M

45.83M

49.81M

56.6M

72.57M

93.04M

119.29M

152.95M

Ebit

19.52M

8.43M

9.9M

36.36M

39.36M

43.07M

55.23M

70.81M

90.78M

116.39M

Tax Rate

34.85

34.85

34.85

34.85

34.85

34.85

34.85

34.85

34.85

34.85

Ebiat

20.66M

11.65M

5.08M

19.48M

25.64M

31.88M

40.87M

52.4M

67.18M

86.13M

Depreciation

3.57M

5.12M

7.11M

9.47M

10.45M

13.53M

17.35M

22.24M

28.51M

36.56M

Receivables

38.88M

41.73M

43.21M

31.89M

45.92M

87.3M

111.93M

143.5M

183.99M

235.9M

Inventories

65.12M

1

-10.91M

-

-

40.68M

52.15M

66.87M

85.73M

109.92M

Payable

9.42M

14.95M

17.6M

16.4M

26.58M

33.12M

42.46M

54.44M

69.8M

89.49M

Cap Ex

-10.37M

-15.41M

-12.61M

-12.16M

-979k

-24.22M

-31.05M

-39.81M

-51.04M

-65.44M

Ufcf

-80.72M

69.15M

11.66M

16M

31.27M

-54.34M

401.14k

514.31k

659.4k

845.43k

Wacc

10.64

10.64

10.64

10.64

10.64

Pv Ufcf

-49.11M

327.7k

379.74k

440.05k

509.94k

Sum Pv Ufcf

-47.45M

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

10.64

Free Cash Flow T1

862.34k

Terminal Value

9.98M

Present Terminal Value

6.02M

Intrinsic Value

Enterprise Value

-41.43M

Net Debt

6.79M

Equity Value

-48.22M

Diluted Shares Outstanding

38.3M

Equity Value Per Share

-1.26

Projected DCF

-1.26 86.492%

DCF Levered

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