First Guaranty Bancshares, Inc. (FGBI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+248.3%

$35.77

vs $10.27 price

Levered DCF

$54.56

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

-0.38

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-1.29×	14.02×	17.94×	9.46×	8.42×	8.5×	14.77×	14.42×
P/B	0.33×	0.56×	0.5×	1.07×	0.98×	0.97×	1.27×	1.39×
P/S	0.38×	0.58×	0.65×	1.72×	1.81×	1.41×	2.14×	2.48×
EV / EBITDA	9.09×	-10.77×	7.12×	8.69×	0.16×	-0.31×	11.04×	5.32×
Gross margin	-6.2%	37.4%	46.8%	72.4%	79.9%	66.8%	64.7%	72.4%
Operating margin	-35.0%	6.5%	6.2%	25.0%	28.5%	20.7%	18.1%	21.4%
Net margin	-28.6%	5.1%	4.8%	19.8%	22.6%	16.5%	14.4%	17.2%
Current ratio	120.47×	0.31×	0.22×	0.19×	0.28×	0.29×	0.22×	0.26×
Debt / equity	0.82×	0.79×	1.1×	0.78×	0.22×	0.65×	0.52×	0.23×
Interest coverage	-0.54×	0.12×	0.12×	1×	1.55×	0.98×	0.6×	0.83×
Dividend yield	3.8%	5.2%	7.8%	3.7%	3.6%	3.6%	2.7%	2.8%
Payout ratio	-5.2%	59.9%	105.2%	31.8%	28.5%	30.7%	40.7%	39.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-24.8%	4.9%	3.7%	12.3%	12.2%	11.4%	8.6%	9.7%
Return on invested capital	-1.4%	2.6%	1.7%	6.8%	9.8%	6.7%	5.5%	7.7%
Return on assets	-1.4%	0.3%	0.3%	0.9%	0.9%	0.8%	0.7%	0.8%
Free cash flow yield	-13.3%	21.6%	5.4%	13.6%	11.1%	10.1%	8.1%	11.3%
Earnings yield	-74.6%	8.8%	7.4%	11.5%	12.5%	11.7%	6.7%	7.0%
Enterprise value	-$584.5M	-$220.1M	$113.4M	$351.9M	$6.3M	-$9.2M	$231.3M	$111.5M
Net debt / EBITDA	10.26×	-17.72×	-0.67×	2.48×	-5.41×	-6.22×	0.97×	-4.43×
Cash conversion cycle (days)	-8	299	527	782	704	295	-32	-34