First Capital Inc reported a solid Q2 2024 with meaningful top-line growth and resilient profitability. Revenue reached $14.247 million, up 40.02% year over year and 3.72% quarter over quarter, underscored by a high gross margin near 1.00 and an operating margin of 23.30%. Net income totaled $2.829 million, delivering an EPS of $0.85 for the quarter. The strong quarterly performance was driven by the bank’s core earnings and favorable mix of revenue, with operating income at $3.320 million and an after-tax margin of roughly 19.8%.
Notes: Four-quarter data shows consistent top-line expansion with revenue of $21.29 million in the trailing four-quarter window ending 2024-06-30, up from $19.62 million a year earlier. Management commentary from the earnings release section is not accompanied by a formal transcript in the provided data.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
14.25M
40.02%
3.72%
Gross Profit
14.24M
39.96%
3.68%
Operating Income
3.32M
5.23%
-4.10%
Net Income
2.83M
3.74%
-4.20%
EPS
0.85
3.66%
-3.41%
Key Financial Ratios
Gross Profit Margin
Weak
1.00%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Good
23.30%
Operating margin is healthy and competitive within industry standards
Net Profit Margin
Good
19.80%
Net profit margin is healthy and competitive within industry standards
Return on Assets
Weak
0.24%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
2.62%
Return on equity suggests inefficient capital allocation
Debt to Equity
Moderate
0.31
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Value
9.02x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Undervalued
0.95x
Trading below book value, potential value opportunity or distressed
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