A Business at a Glance
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ISABELLA BANK CORP
ISBA
$272M
Mkt Cap
$36.81
-3.46%
ISABELLA BANK CORP (ISBA) has a current P/E ratio of 15.0, compared to its historical median P/E of 10.7. The stock is currently considered Expensive based on its historical valuation range.
ISABELLA BANK CORP (ISBA) has a 5-year average return on invested capital (ROIC) of 8.7%. This is below average and may indicate limited pricing power.
ISABELLA BANK CORP (ISBA) has a market capitalization of $270M. It is classified as a small-cap stock.
Yes, ISABELLA BANK CORP (ISBA) pays a dividend with a trailing twelve-month yield of 3.00%. The company also returns capital through share buybacks, with a buyback yield of 1.47%.
Based on historical P/E analysis, ISABELLA BANK CORP (ISBA) appears expensive. The current P/E of 15.0 is 40% above its historical median of 10.7. The estimated fair value CAGR (P/E method) is 7.6%.
ISABELLA BANK CORP (ISBA) operates in the State Commercial Banks industry, within the Financials sector.
ISABELLA BANK CORP (ISBA) reported annual revenue of $112 million in its most recent fiscal year, based on SEC EDGAR filings.
Item 1. Business. Isabella Bank Corporation is a registered financial services holding company that was incorporated in September 1988 under Michigan law. The Corporation's wholly owned subsidiary, Isabella Bank, has 31 offices located throughout Bay, Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw counties. The area includes significant agricultural production, manufacturing, retail, gaming and tourism, and several colleges and universities. As used in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations as well as in Item 8. Financial Statements and Supplementary Data, references to “the Corporation”, “Isabella”, “we”, “our”, “us”, and similar terms refer to the consolidated entity consisting of Isabella Bank Corporation and its subsidiary. References to Isabella Bank or “the Bank” refers to Isabella Bank Corporation’s subsidiary, Isabella Bank.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 82M | 112M | 105M | 93M | 79M | 74M |
| Net Income | 20M | 19M | 14M | 18M | 22M | 19M |
| EPS | $2.72 | $2.56 | $1.86 | $2.40 | $2.91 | $2.45 |
| Free Cash Flow | 23M | 23M | 18M | 20M | 24M | 24M |
| ROIC | 8.5% | 8.6% | 6.7% | 9.3% | 10.4% | 8.5% |
| Gross Margin | - | 0.0% | - | - | - | - |
| Debt/Equity | 0.00 | 8.55 | 8.92 | 0.00 | 0.00 | 0.14 |
| Dividends/Share | $1.10 | $1.12 | $1.12 | $1.12 | $1.09 | $1.08 |
| Operating Income | 1.3M | 1.1M | 1.0M | 1.2M | 27M | 23M |
| Operating Margin | 1.6% | 0.9% | 1.0% | 1.2% | 33.8% | 31.6% |
| ROE | 8.5% | 8.6% | 6.7% | 9.3% | 11.2% | 9.1% |
| Shares Outstanding | 7M | 7M | 7M | 8M | 8M | 8M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 60M | 62M | 65M | 69M | 75M | 75M | 79M | 74M | 79M | 93M | 105M | 112M | 82M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 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 | N/A | N/A |
| SG&A | 19M | 18M | 19M | 22M | 23M | 23M | 24M | 24M | 25M | 26M | 29M | 30M | 31M |
| EBIT | 2.6M | 3.4M | 4.2M | 16M | 15M | 14M | 12M | 23M | 27M | 1.2M | 1.0M | 1.1M | 1.3M |
| Op. Margin | 4.2% | 5.5% | 6.5% | 23.5% | 20.6% | 19.1% | 15.1% | 31.6% | 33.8% | 1.2% | 1.0% | 0.9% | 1.6% |
| Net Income | 14M | 15M | 14M | 13M | 14M | 13M | 11M | 19M | 22M | 18M | 14M | 19M | 20M |
| Net Margin | 22.7% | 24.5% | 21.3% | 19.1% | 18.7% | 17.3% | 13.8% | 26.4% | 28.0% | 19.4% | 13.3% | 16.9% | 24.4% |
| Non-Recurring | 123K | 99K | 10K | 2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 8.2% | 8.4% | 7.4% | 6.9% | 7.2% | 6.4% | 5.1% | 8.5% | 10.4% | 9.3% | 6.7% | 8.6% | 8.5% |
| ROE | 8.2% | 8.4% | 7.4% | 6.9% | 7.2% | 6.4% | 5.1% | 9.1% | 11.2% | 9.3% | 6.7% | 8.6% | 8.5% |
| ROA | 0.9% | 0.9% | 0.8% | 0.7% | 0.8% | 0.7% | 0.6% | 1.0% | 1.1% | 0.9% | 0.7% | 0.9% | 0.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 18M | 12M | 20M | 20M | 22M | 23M | 22M | 26M | 27M | 24M | 20M | 27M | 26M |
| Free Cash Flow | 15M | 7.0M | 16M | 18M | 20M | 22M | 20M | 24M | 24M | 20M | 18M | 23M | 23M |
| Owner Earnings | 14M | 8.7M | 17M | 16M | 18M | 20M | 19M | 23M | 24M | 21M | 17M | 24M | -25M |
| CapEx | 2.7M | 5.1M | 3.8M | 2.0M | 2.3M | 1.3M | 1.5M | 1.6M | 3.2M | 4.1M | 2.1M | 3.5M | 3.0M |
| Maint. CapEx | 2.7M | 2.8M | 3.0M | 3.0M | 3.0M | 3.0M | 2.7M | 2.3M | 2.1M | 2.0M | 2.1M | 2.1M | 51M |
| Growth CapEx | 0 | 2.3M | 821K | 0 | 0 | 0 | 0 | 0 | 1.1M | 2.1M | 20K | 1.3M | 0 |
| D&A | 2.7M | 2.8M | 3.0M | 3.0M | 3.0M | 3.0M | 2.7M | 2.3M | 2.1M | 2.0M | 2.1M | 2.1M | 51M |
| CapEx/OCF | 15.4% | 42.4% | 19.9% | 10.3% | 10.5% | 5.7% | 6.9% | 6.2% | 11.9% | 16.8% | 10.7% | N/A | 11.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 6.8M | 7.3M | 7.6M | 8.0M | 8.2M | 8.3M | 8.5M | 8.4M | 8.1M | 8.2M | 8.1M | 8.1M | 8.1M |
| Dividend Yield | 6.2% | 6.2% | 5.3% | 5.3% | 5.5% | 6.1% | 7.4% | 5.5% | 5.2% | 5.7% | 5.7% | N/A | 3.0% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.4M | 3.1M | 4.7M | 4.0M |
| Buyback Yield | 2.8% | 3.3% | 3.0% | 3.3% | 5.4% | 2.8% | 2.1% | 8.0% | 0.7% | 2.3% | 1.6% | 0.0% | 1.5% |
| Stock-Based Comp | 495K | 550K | 573K | 640K | 612K | 523K | 14K | 86K | 610K | 782K | 476K | 341K | 339K |
| Debt Repayment | 10M | 20M | 28M | 7.2M | 4.6M | 64M | 125M | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | -490M | -586M | -567M | -619M | -562M | N/A | N/A | -543M |
| Cash & Equiv. | 20M | 22M | 23M | 31M | 73M | 61M | 247M | 105M | 39M | 34M | 25M | 26M | 543M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | 0 | 0 | 29M | 0 | 0 | N/A | N/A | N/A |
| Debt/Equity | 7.88 | 8.07 | 8.22 | 8.30 | 8.42 | 0.00 | 0.00 | 0.14 | 0.00 | 0.00 | 8.92 | 8.55 | 0.00 |
| Interest Coverage | 0.3 | 0.3 | 0.4 | 0.3 | 2.0 | 1.8 | 1.9 | 4.1 | 6.0 | 2.2 | 1.6 | 0.0 | 0.0 |
| Equity | 175M | 184M | 188M | 195M | 196M | 210M | 219M | 211M | 186M | 202M | 210M | 231M | 234M |
| Total Assets | 1.5B | 1.7B | 1.7B | 1.8B | 1.8B | 1.8B | 2.0B | 2.0B | 2.0B | 2.1B | 2.1B | 2.2B | 2.3B |
| Total Liabilities | 1.4B | 1.5B | 1.5B | 1.6B | 1.6B | 1.6B | 1.7B | 1.8B | 1.8B | 1.9B | 1.9B | 2.0B | 2.0B |
| Intangibles | 510K | 546K | 384K | 265K | 169K | 97K | 49K | 20K | 5K | 2K | 1K | 0 | 0 |
| Retained Earnings | 32M | 40M | 46M | 52M | 57M | 62M | 64M | 76M | 90M | 97M | 103M | 114M | 117M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 1.74 | 1.90 | 1.73 | 1.65 | 1.74 | 1.61 | 1.34 | 2.45 | 2.91 | 2.40 | 1.86 | 2.56 | 2.72 |
| Owner EPS | 1.82 | 1.09 | 2.09 | 2.00 | 2.27 | 2.45 | 2.38 | 2.90 | 3.17 | 2.83 | 2.29 | 3.29 | -3.47 |
| Book Value | 22.14 | 23.10 | 23.56 | 24.30 | 24.26 | 25.98 | 26.91 | 26.52 | 24.37 | 26.74 | 28.16 | 31.33 | 31.90 |
| Cash Flow/Share | 2.23 | 1.52 | 2.54 | 2.45 | 2.73 | 2.88 | 2.71 | 3.20 | 3.52 | 3.19 | 2.63 | 3.63 | 9.68 |
| Dividends/Share | 0.89 | 0.94 | 0.98 | 1.02 | 1.04 | 1.05 | 1.08 | 1.08 | 1.09 | 1.12 | 1.12 | 1.12 | 1.10 |
| Shares Out. | 7.9M | 8.0M | 8.0M | 8.0M | 8.1M | 8.1M | 8.1M | 8.0M | 7.6M | 7.6M | 7.5M | 7.4M | 7.3M |
| Valuation | |||||||||||||
| P/E Ratio | 8.2 | 9.3 | 10.7 | 11.7 | 9.2 | 11.2 | 11.5 | 8.8 | 7.0 | 8.2 | 13.5 | N/A | 13.5 |
| P/FCF | 7.5 | 20.2 | 9.0 | 8.8 | 6.6 | 6.6 | 6.1 | 7.2 | 6.6 | 7.4 | 10.7 | N/A | 11.8 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -212.7 |
| Price/Book | 0.6 | 0.8 | 0.8 | 0.8 | 0.7 | 0.7 | 0.6 | 0.8 | 0.8 | 0.7 | 0.9 | N/A | 1.2 |
| Price/Sales | 2.2 | 2.3 | 2.7 | 2.7 | 2.5 | 2.3 | 1.8 | 2.3 | 2.1 | 2.0 | 2.0 | N/A | 3.3 |
| FCF Yield | 13.2% | 4.9% | 11.2% | 11.4% | 15.2% | 15.1% | 16.3% | 14.0% | 15.2% | 13.5% | 9.3% | N/A | 8.5% |
| Market Cap | 112M | 141M | 147M | 155M | 129M | 145M | 126M | 171M | 156M | 149M | 188M | 0 | 270M |
| Avg. Price | 13.89 | 14.84 | 18.13 | 18.91 | 18.49 | 16.67 | 14.14 | 19.04 | 20.18 | 19.08 | 19.11 | 0.00 | 36.81 |
| Year-End Price | 14.21 | 17.67 | 18.48 | 19.29 | 16.05 | 17.96 | 15.48 | 21.52 | 20.38 | 19.68 | 25.11 | 0.00 | 36.81 |
ISABELLA BANK CORP passes 2 of 9 quality checks, indicating weak fundamentals.
ISABELLA BANK CORP trades at 15.0x trailing earnings, compared to its 15-year median P/E of 10.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 14.0x vs a median of 7.2x. The company's 5-year average ROIC is 8.7%. Total shareholder yield (dividends + buybacks) is 4.5%. At current prices, the estimated annualized return to fair value is -1.1%.
ISABELLA BANK CORP (ISBA) has a net profit margin of 16.9%. This is a healthy margin.
ISABELLA BANK CORP (ISBA) generated $23 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ISABELLA BANK CORP (ISBA) has a debt-to-equity ratio of 8.55. This indicates higher leverage, which may increase financial risk.
ISABELLA BANK CORP (ISBA) reported earnings per share (EPS) of $2.56 in its most recent fiscal year.
ISABELLA BANK CORP (ISBA) has a return on equity (ROE) of 8.6%. This indicates moderate shareholder returns.
The Ledger Terminal provides 17 years of financial data for ISABELLA BANK CORP (ISBA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ISABELLA BANK CORP (ISBA) has a book value per share of $31.33, based on its most recent annual SEC filing.
No recent press releases.