A Business at a Glance
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Bank First Corp
BFC
$1.5B
Mkt Cap
$150.78
+2.30%
Bank First Corp (BFC) has a current P/E ratio of 20.9, compared to its historical median P/E of 14.5. The stock is currently considered Expensive based on its historical valuation range.
Bank First Corp (BFC) has a 5-year average return on invested capital (ROIC) of 11.6%. This indicates solid capital allocation.
Bank First Corp (BFC) has a market capitalization of $1.5B. It is classified as a small-cap stock.
Yes, Bank First Corp (BFC) pays a dividend with a trailing twelve-month yield of 3.54%. The company also returns capital through share buybacks, with a buyback yield of 1.49%.
Based on historical P/E analysis, Bank First Corp (BFC) appears expensive. The current P/E of 20.9 is 44% above its historical median of 14.5. The estimated fair value CAGR (P/E method) is 9.9%.
Bank First Corp (BFC) operates in the National Commercial Banks industry, within the Financials sector.
Bank First Corp (BFC) reported annual revenue of $244 million in its most recent fiscal year, based on SEC EDGAR filings.
General Overview Bank First Corporation is a Wisconsin corporation that was organized in April 1982 to serve as the holding company for Bank First, N.A., a national banking association founded in 1894. The Bank is a wholly-owned subsidiary of the Company. The Company and the Bank are headquartered in Manitowoc, Wisconsin, and the Bank is a member of the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and regulated by the Office of the Comptroller of the Currency (the “OCC”). The Bank has thirty-eight (38) offices, including its headquarters, in Brown, Columbia, Dane, Door, Fond du Lac, Green, Jefferson, Manitowoc, Monroe, Outagamie, Ozaukee, Rock, Shawano, Sheboygan, Walworth, Waupaca, Waushara, and Winnebago counties in the State of Wisconsin and Winnebago county in the State of Illinois. We serve businesses, professionals and consumers with a wide variety of financial services, including retail and commercial banking.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 244M | 244M | 226M | 241M | 136M | 122M |
| Net Income | 71M | 71M | 65M | 74M | 45M | 45M |
| EPS | $7.23 | $7.23 | $6.50 | $7.28 | $5.58 | $5.92 |
| Free Cash Flow | 51M | 51M | 59M | 39M | 33M | 32M |
| ROIC | 11.4% | 9.5% | 10.1% | 13.3% | 11.4% | 13.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.35 | 0.35 | 0.22 | 0.20 | 6.89 | 0.03 |
| Dividends/Share | $5.34 | $5.30 | $1.55 | $1.15 | $0.94 | $1.14 |
| Operating Income | 88M | 88M | 80M | 99M | 60M | 60M |
| Operating Margin | 36.1% | 36.1% | 35.2% | 41.1% | 43.8% | 49.2% |
| ROE | 11.1% | 11.1% | 10.4% | 13.8% | 11.6% | 14.6% |
| Shares Outstanding | 10M | 10M | 10M | 10M | 8M | 8M |
| Metric | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 54M | 63M | 89M | 102M | 120M | 122M | 136M | 241M | 226M | 244M | 244M |
| Gross Margin | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 13M | 17M | 22M | 23M | 27M | 29M | 33M | 40M | 41M | 42M | 42M |
| EBIT | 23M | 24M | 32M | 34M | 50M | 60M | 60M | 99M | 80M | 88M | 88M |
| Op. Margin | 41.9% | 38.1% | 35.8% | 33.7% | 41.7% | 49.2% | 43.8% | 41.1% | 35.2% | 36.1% | 36.1% |
| Net Income | 15M | 15M | 25M | 26M | 38M | 45M | 45M | 74M | 65M | 71M | 71M |
| Net Margin | 27.6% | 24.2% | 28.5% | 26.0% | 31.6% | 37.0% | 32.9% | 30.8% | 28.8% | 29.2% | 29.2% |
| Non-Recurring | -9K | 160K | -455K | -23K | -107K | 37K | 132K | -302K | -375K | -792K | -792K |
| Returns on Capital | |||||||||||
| ROIC | N/A | 2.8% | 6.3% | 0.1% | 0.2% | 13.9% | 11.4% | 13.3% | 10.1% | 9.5% | 11.4% |
| ROE | N/A | 10.6% | 15.2% | 13.1% | 14.4% | 14.6% | 11.6% | 13.8% | 10.4% | 11.1% | 11.1% |
| ROA | N/A | 1.7% | 1.4% | 1.3% | 1.5% | 1.6% | 1.4% | 1.9% | 1.5% | 1.6% | 1.6% |
| Cash Flow | |||||||||||
| Op. Cash Flow | 14M | 18M | 23M | 23M | 44M | 40M | 40M | 53M | 66M | 62M | 62M |
| Free Cash Flow | 13M | 15M | 15M | 15M | 36M | 32M | 33M | 39M | 59M | 51M | 51M |
| Owner Earnings | 14M | 18M | 22M | 21M | 41M | 37M | 37M | 49M | 61M | 58M | 58M |
| CapEx | 1.3M | 2.8M | 7.9M | 7.3M | 8.4M | 8.7M | 6.9M | 13M | 7.2M | 11M | 11M |
| Maint. CapEx | 18K | 132K | 756K | 1.1M | 1.5M | 1.8M | 1.7M | 2.1M | 2.3M | 2.4M | 2.4M |
| Growth CapEx | 1.3M | 2.7M | 7.2M | 6.2M | 6.9M | 6.9M | 5.2M | 11M | 4.9M | 9.0M | 9.0M |
| D&A | 18K | 132K | 756K | 1.1M | 1.5M | 1.8M | 1.7M | 2.1M | 2.3M | 2.4M | 2.4M |
| CapEx/OCF | N/A | 15.4% | 34.4% | 32.1% | 19.0% | 21.6% | 17.2% | 25.5% | 11.0% | 18.3% | 18.3% |
| Capital Allocation | |||||||||||
| Dividends Paid | 3.7M | 4.0M | 4.5M | 5.5M | 6.1M | 8.7M | 7.8M | 12M | 16M | 53M | 53M |
| Dividend Yield | N/A | 2.0% | 1.5% | 1.5% | 1.5% | 1.8% | 1.4% | 1.6% | 1.9% | 4.7% | 3.5% |
| Share Buybacks | 2.6M | 3.6M | 10M | 4.2M | 4.4M | 8.3M | 14M | 10M | 32M | 22M | 22M |
| Buyback Yield | 0.0% | 1.5% | 3.7% | 1.0% | 1.0% | 1.6% | 2.1% | 1.2% | 3.4% | 1.8% | 1.5% |
| Stock-Based Comp | 419K | 465K | 556K | 685K | 1.1M | 1.4M | 1.7M | 2.1M | 2.2M | 2.1M | 2.1M |
| Debt Repayment | 325M | 477M | 0 | 0 | 7.0M | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||
| Net Debt | 245M | 256M | -225M | 39.5B | -311M | -501M | 2.7B | -126M | -121M | -17M | -17M |
| Cash & Equiv. | 80M | 102M | 108M | 86M | 170M | 297M | 119M | 247M | 261M | 243M | 243M |
| Long-Term Debt | 325M | 477M | 0 | 38.4B | 23M | 8.0M | 6.0M | 37M | 414K | 220M | 220M |
| Debt/Equity | N/A | 2.95 | 0.01 | 172.89 | 0.08 | 0.03 | 6.89 | 0.20 | 0.22 | 0.35 | 0.35 |
| Interest Coverage | 0.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.4 |
| Equity | N/A | 162M | 174M | 230M | 295M | 323M | 453M | 620M | 640M | 644M | 644M |
| Total Assets | N/A | 1.8B | 1.8B | 2.2B | 2.7B | 2.9B | 3.7B | 4.2B | 4.5B | 4.5B | 4.5B |
| Total Liabilities | N/A | 1.6B | 1.6B | 2.0B | 2.4B | 2.6B | 3.2B | 3.6B | 3.9B | 3.9B | 3.9B |
| Intangibles | N/A | 5.6M | 5.3M | 9.7M | 9.2M | N/A | N/A | 27M | 21M | 16M | 16M |
| Retained Earnings | N/A | 146M | 168M | 189M | 221M | 258M | 295M | 348M | 398M | 417M | 417M |
| Working Capital | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||
| EPS | 2.40 | 2.44 | 3.81 | 3.87 | 5.07 | 5.92 | 5.58 | 7.28 | 6.50 | 7.23 | 7.23 |
| Owner EPS | 2.25 | 2.82 | 3.25 | 3.05 | 5.56 | 4.87 | 4.56 | 4.79 | 6.12 | 5.89 | 5.89 |
| Book Value | N/A | 25.77 | 26.09 | 33.63 | 39.59 | 42.36 | 56.33 | 60.90 | 63.76 | 65.43 | 65.43 |
| Cash Flow/Share | 2.32 | 2.92 | 3.45 | 3.31 | 5.90 | 5.29 | 4.97 | 5.20 | 6.56 | 6.35 | 7.47 |
| Dividends/Share | 0.59 | 0.64 | 0.68 | 0.80 | 0.81 | 1.14 | 0.94 | 1.15 | 1.55 | 5.30 | 5.34 |
| Shares Out. | 6.2M | 6.3M | 6.7M | 6.8M | 7.4M | 7.6M | 8.0M | 10.2M | 10.0M | 9.8M | 9.8M |
| Valuation | |||||||||||
| P/E Ratio | N/A | 15.8 | 11.1 | 15.9 | 11.8 | 11.1 | 15.2 | 11.4 | 14.5 | 17.6 | 20.9 |
| P/FCF | N/A | 15.6 | 18.7 | 27.4 | 12.5 | 15.8 | 20.6 | 21.4 | 16.1 | 24.5 | 29.1 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 16.6 |
| Price/Book | N/A | 1.5 | 1.6 | 1.8 | 1.5 | 1.6 | 1.5 | 1.4 | 1.5 | 1.9 | 2.3 |
| Price/Sales | N/A | 3.6 | 3.9 | 4.6 | 3.7 | 4.3 | 4.7 | 4.0 | 5.3 | 6.5 | 6.1 |
| FCF Yield | N/A | 6.4% | 5.4% | 3.6% | 8.0% | 6.3% | 4.8% | 4.6% | 6.2% | 4.1% | 3.4% |
| Market Cap | 0 | 242M | 283M | 424M | 447M | 503M | 686M | 849M | 951M | 1.3B | 1.5B |
| Avg. Price | 0.00 | 31.75 | 44.07 | 54.73 | 55.13 | 63.88 | 71.13 | 74.33 | 83.37 | 114.05 | 150.78 |
| Year-End Price | 0.00 | 38.57 | 42.29 | 61.53 | 59.59 | 65.49 | 84.71 | 82.96 | 94.27 | 126.93 | 150.78 |
Bank First Corp passes 5 of 9 quality checks, suggesting mixed fundamentals.
Bank First Corp trades at 20.9x trailing earnings, compared to its 15-year median P/E of 14.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 33.1x vs a median of 18.7x. The company's 5-year average ROIC is 11.6%. Total shareholder yield (dividends + buybacks) is 5.0%. At current prices, the estimated annualized return to fair value is +8.9%.
Bank First Corp (BFC) has a net profit margin of 29.2%. This is a strong margin indicating high profitability.
Bank First Corp (BFC) generated $51 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Bank First Corp (BFC) has a debt-to-equity ratio of 0.35. This indicates a conservatively financed balance sheet.
Bank First Corp (BFC) reported earnings per share (EPS) of $7.23 in its most recent fiscal year.
Bank First Corp (BFC) has a return on equity (ROE) of 11.1%. This indicates moderate shareholder returns.
The Ledger Terminal provides 10 years of financial data for Bank First Corp (BFC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Bank First Corp (BFC) has a book value per share of $65.43, based on its most recent annual SEC filing.
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