A Business at a Glance
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CATHAY GENERAL BANCORP
CATY
$4.4B
Mkt Cap
$62.92
+0.62%
CATHAY GENERAL BANCORP (CATY) has a current P/E ratio of 13.9, compared to its historical median P/E of 9.7. The stock is currently considered Expensive based on its historical valuation range.
CATHAY GENERAL BANCORP (CATY) has a 5-year average return on invested capital (ROIC) of 11.8%. This indicates solid capital allocation.
CATHAY GENERAL BANCORP (CATY) has a market capitalization of $4.4B. It is classified as a mid-cap stock.
Yes, CATHAY GENERAL BANCORP (CATY) pays a dividend with a trailing twelve-month yield of 2.15%. The company also returns capital through share buybacks, with a buyback yield of 4.13%.
Based on historical P/E analysis, CATHAY GENERAL BANCORP (CATY) appears expensive. The current P/E of 13.9 is 43% above its historical median of 9.7. The estimated fair value CAGR (P/E method) is 6.6%.
CATHAY GENERAL BANCORP (CATY) operates in the State Commercial Banks industry, within the Financials sector.
CATHAY GENERAL BANCORP (CATY) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Business of Bancorp Cathay General Bancorp (the “Bancorp” on a parent-only basis, and the “Company,” “we,” “us” or “our” on a consolidated basis) is a corporation that was organized in 1990 under the laws of the State of Delaware. The Bancorp is the holding company of Cathay Bank, a California state-chartered commercial bank (“Cathay Bank” or the “Bank”), and twelve limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner. The Bancorp also owns 100% of the common stock of five statutory business trusts created for the purpose of issuing capital securities. Our principal place of business is located at 777 North Broadway, Los Angeles, California 90012, with our main telephone number at (213) 625-4700. Certain of our administrative offices are located at 9650 Flair Drive, El Monte, California 91731. Our common stock is traded on the NASDAQ Global Select Market, and our trading symbol is “CATY”.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.4B | 1.4B | 1.4B | 1.3B | 908M | 721M |
| Net Income | 315M | 315M | 286M | 354M | 361M | 298M |
| EPS | $4.54 | $4.54 | $3.95 | $4.86 | $4.83 | $3.80 |
| Free Cash Flow | 364M | 364M | 326M | 381M | 464M | 331M |
| ROIC | 10.4% | 10.5% | 9.8% | 13.0% | 14.0% | 11.7% |
| Gross Margin | 55.1% | 55.1% | 51.6% | 59.9% | 85.6% | 88.2% |
| Debt/Equity | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 |
| Dividends/Share | $1.35 | $1.36 | $1.36 | $1.36 | $1.36 | $1.27 |
| Operating Income | 28M | 28M | 24M | 22M | 27M | 27M |
| Operating Margin | 2.0% | 2.0% | 1.7% | 1.7% | 3.0% | 3.8% |
| ROE | 10.8% | 10.9% | 10.2% | 13.6% | 14.7% | 12.3% |
| Shares Outstanding | 69M | 69M | 72M | 73M | 75M | 79M |
| Metric | 2016 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 459M | 486M | 532M | 612M | 720M | 814M | 743M | 721M | 908M | 1.3B | 1.4B | 1.4B | 1.4B |
| Gross Margin | 81.1% | 82.4% | 81.8% | 86.5% | 82.4% | 75.3% | 72.3% | 88.2% | 85.6% | 59.9% | 51.6% | 55.1% | 55.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 174M | 203M | 225M | 236M | 264M | 277M | 283M | 287M | 303M | 380M | 375M | 355M | 355M |
| EBIT | 22M | 25M | 18M | 19M | 23M | 28M | 20M | 27M | 27M | 22M | 24M | 28M | 28M |
| Op. Margin | 4.9% | 5.2% | 3.4% | 3.1% | 3.3% | 3.4% | 2.7% | 3.8% | 3.0% | 1.7% | 1.7% | 2.0% | 2.0% |
| Net Income | 138M | 161M | 175M | 176M | 272M | 279M | 229M | 298M | 361M | 354M | 286M | 315M | 315M |
| Net Margin | 30.0% | 33.1% | 32.9% | 28.7% | 37.8% | 34.3% | 30.8% | 41.4% | 39.7% | 27.0% | 20.6% | 22.8% | 22.8% |
| Non-Recurring | 4.6M | 2.5M | 1.3M | 0 | 182K | -14K | -45K | -55K | -67K | -6K | 0 | -63K | -63K |
| Returns on Capital | |||||||||||||
| ROIC | 8.3% | 9.0% | 9.2% | 8.6% | 12.1% | 11.8% | 9.2% | 11.7% | 14.0% | 13.0% | 9.8% | 10.5% | 10.4% |
| ROE | 9.0% | 9.6% | 9.8% | 9.3% | 13.3% | 12.6% | 9.7% | 12.3% | 14.7% | 13.6% | 10.2% | 10.9% | 10.8% |
| ROA | 1.2% | 1.3% | 1.3% | 1.2% | 1.7% | 1.6% | 1.2% | 1.5% | 1.7% | 1.6% | 1.2% | 1.3% | 1.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 150M | 177M | 234M | 249M | 337M | 435M | 320M | 334M | 467M | 385M | 329M | 369M | 369M |
| Free Cash Flow | 145M | 173M | 231M | 246M | 330M | 428M | 314M | 331M | 464M | 381M | 326M | 364M | 364M |
| Owner Earnings | 138M | 164M | 222M | 236M | 321M | 426M | 310M | 324M | 454M | 372M | 318M | 359M | 359M |
| CapEx | 4.8M | 3.5M | 3.5M | 3.2M | 6.7M | 7.1M | 5.8M | 3.7M | 3.4M | 3.4M | 3.6M | 4.9M | 4.9M |
| Maint. CapEx | 7.9M | 7.6M | 7.5M | 7.3M | 7.3M | 6.8M | 7.7M | 8.0M | 10.0M | 8.4M | 7.2M | 6.6M | 6.6M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 377K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 7.9M | 7.6M | 7.5M | 7.3M | 7.3M | 6.8M | 7.7M | 8.0M | 10.0M | 8.4M | 7.2M | 6.6M | 6.6M |
| CapEx/OCF | 3.2% | 2.0% | 1.5% | 1.3% | 2.0% | 1.6% | 1.8% | 1.1% | 0.7% | 0.9% | 1.1% | 1.3% | 1.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 23M | 45M | 59M | 70M | 83M | 99M | 99M | 99M | 101M | 99M | 98M | 94M | 94M |
| Dividend Yield | 1.6% | 2.6% | 3.3% | 3.0% | 3.2% | 4.3% | 5.5% | 3.7% | 3.6% | 4.1% | 3.4% | 3.0% | 2.1% |
| Share Buybacks | 0 | 59M | 54M | 0 | 43M | 36M | 24M | 167M | 141M | 17M | 85M | 180M | 180M |
| Buyback Yield | N/A | 3.1% | 2.4% | N/A | 2.0% | 1.5% | 1.1% | 5.7% | 5.2% | 0.5% | 2.5% | 5.2% | 4.1% |
| Stock-Based Comp | 4.2M | 5.0M | 5.0M | 5.7M | 8.0M | 2.3M | 1.9M | 2.6M | 2.9M | 4.5M | 3.7M | 2.8M | 2.8M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 26M | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -547M | -1.1B | -2.0B | -633M | -786M | -1.9B | -2.3B | -3.5B | -2.5B | -2.3B | -2.5B | -1.3B | -1.3B |
| Cash & Equiv. | 177M | 717M | 1.2B | 535M | 600M | 594M | 1.4B | 2.4B | 1.2B | 829M | 1.0B | 1.4B | 1.4B |
| Long-Term Debt | 119M | 119M | 119M | 194M | 189M | 119M | 119M | 119M | 119M | 119M | 119M | 119M | 119M |
| Debt/Equity | 0.07 | 0.07 | 0.07 | 0.10 | 0.09 | 0.06 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.04 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1 |
| Equity | 1.6B | 1.7B | 1.8B | 2.0B | 2.1B | 2.3B | 2.4B | 2.4B | 2.5B | 2.7B | 2.8B | 2.9B | 2.9B |
| Total Assets | 11.5B | 13.3B | 14.5B | 15.6B | 16.8B | 18.1B | 19.0B | 20.9B | 21.9B | 23.1B | 23.1B | 24.2B | 24.2B |
| Total Liabilities | 9.9B | 11.5B | 12.7B | 13.7B | 14.7B | 15.8B | 16.6B | 18.4B | 19.5B | 20.3B | 20.2B | 21.3B | 21.3B |
| Intangibles | 3.2M | 3.7M | 2.9M | 8.1M | 7.2M | 6.3M | 5.4M | 4.6M | 5.8M | 4.5M | 3.3M | 2.7M | 2.7M |
| Retained Earnings | 944M | 1.1B | 1.2B | 1.3B | 1.5B | 1.7B | 1.8B | 2.0B | 2.2B | 2.5B | 2.7B | 2.9B | 2.9B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.72 | 1.98 | 2.19 | 2.17 | 3.33 | 3.48 | 2.87 | 3.80 | 4.83 | 4.86 | 3.95 | 4.54 | 4.54 |
| Owner EPS | 1.72 | 2.02 | 2.78 | 2.91 | 3.93 | 5.31 | 3.89 | 4.12 | 6.09 | 5.10 | 4.40 | 5.17 | 5.17 |
| Book Value | 20.00 | 21.48 | 22.87 | 24.32 | 25.99 | 28.60 | 30.32 | 31.16 | 33.13 | 37.56 | 39.31 | 42.15 | 42.15 |
| Cash Flow/Share | 1.87 | 2.17 | 2.93 | 3.07 | 4.12 | 5.42 | 4.01 | 4.26 | 6.26 | 5.28 | 4.55 | 5.31 | 4.64 |
| Dividends/Share | 0.29 | 0.56 | 0.75 | 0.87 | 1.03 | 1.24 | 1.24 | 1.27 | 1.36 | 1.36 | 1.36 | 1.36 | 1.35 |
| Shares Out. | 80.1M | 81.4M | 80.0M | 81.1M | 81.6M | 80.2M | 79.7M | 78.5M | 74.7M | 72.9M | 72.4M | 69.4M | 69.4M |
| Valuation | |||||||||||||
| P/E Ratio | 10.7 | 11.8 | 13.0 | 15.0 | 7.8 | 8.9 | 9.5 | 9.9 | 7.5 | 8.7 | 11.7 | 10.9 | 13.9 |
| P/FCF | 10.1 | 10.9 | 9.9 | 10.8 | 6.5 | 5.8 | 6.9 | 8.9 | 5.8 | 8.1 | 10.3 | 9.5 | 12.0 |
| EV/EBIT | 41.1 | 51.5 | 67.3 | 120.0 | 73.5 | 73.3 | 28.6 | 22.2 | 61.4 | 105.9 | 102.7 | 76.5 | 109.5 |
| Price/Book | 0.9 | 1.1 | 1.2 | 1.3 | 1.0 | 1.1 | 0.9 | 1.2 | 1.1 | 1.1 | 1.2 | 1.2 | 1.5 |
| Price/Sales | 3.7 | 4.2 | 4.0 | 4.4 | 4.3 | 3.7 | 3.0 | 4.2 | 3.6 | 3.0 | 3.9 | 3.8 | 3.2 |
| FCF Yield | 9.9% | 9.1% | 10.1% | 9.3% | 15.5% | 17.3% | 14.4% | 11.2% | 17.1% | 12.4% | 9.7% | 10.6% | 8.3% |
| Market Cap | 1.5B | 1.9B | 2.3B | 2.6B | 2.1B | 2.5B | 2.2B | 2.9B | 2.7B | 3.1B | 3.4B | 3.4B | 4.4B |
| Avg. Price | 17.87 | 21.45 | 22.33 | 29.01 | 31.59 | 28.47 | 22.49 | 34.54 | 37.95 | 33.39 | 39.59 | 45.12 | 62.92 |
| Year-End Price | 18.35 | 23.27 | 28.53 | 32.64 | 26.12 | 30.84 | 27.28 | 37.45 | 36.26 | 42.28 | 46.33 | 49.64 | 62.92 |
CATHAY GENERAL BANCORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
CATHAY GENERAL BANCORP trades at 13.9x trailing earnings, compared to its 15-year median P/E of 9.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 11.6x vs a median of 8.5x. The company's 5-year average ROIC is 11.8% with a gross margin of 68.1%. Total shareholder yield (dividends + buybacks) is 6.3%. At current prices, the estimated annualized return to fair value is +3.3%.
CATHAY GENERAL BANCORP (CATY) has a net profit margin of 22.8%. This is a strong margin indicating high profitability.
CATHAY GENERAL BANCORP (CATY) generated $364 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CATHAY GENERAL BANCORP (CATY) has a debt-to-equity ratio of 0.04. This indicates a conservatively financed balance sheet.
CATHAY GENERAL BANCORP (CATY) reported earnings per share (EPS) of $4.54 in its most recent fiscal year.
CATHAY GENERAL BANCORP (CATY) has a return on equity (ROE) of 10.9%. This indicates moderate shareholder returns.
CATHAY GENERAL BANCORP (CATY) has a 5-year average gross margin of 68.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for CATHAY GENERAL BANCORP (CATY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CATHAY GENERAL BANCORP (CATY) has a book value per share of $42.15, based on its most recent annual SEC filing.