Avidia Bancorp, Inc.

AVBCdata completeness 75%2 fiscal years on file

Data notes: no data for concept 'cash'; no data for concept 'totalDebt'

The thesis, from the filings

Avidia Bancorp, Inc. earns about 25% on invested capital. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own

Figure	FY 2024	FY 2025
Revenue	$123.7M¹	$130.6M¹
Net income	$11.5M²	−$3.29M²
Operating cash flow	$23.2M³	$28.4M³
Capital expenditure	$2.77M⁴	$4.29M⁴
Free cash flow (derived)	$20.4M³	$24.1M³
Total debt	—	—
Cash & equivalents	—	—
Diluted shares	0	18.5M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal

If you owned

Net assets behind them

$204.52

your share of equity

Profit it earned you last year

−$1.77

Free cash flow it threw off

$13

Debt you’d be carrying

—

10 shares is a claim on $204.52 of net worth that earned you −$1.77 and generated $13 of cash last year.

iii. Is this a good business?

Moat signal · return on invested capital

25% avg · 2y

FY24 34%FY25 17%

It earned an average 25% on invested capital over 2 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

— shares · 2y

Not enough history to read capital allocation.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0

DCF · Growth Exit 10Y

not applicable

only 2 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 2 years of FCF (need ≥3) — model not applicable

Earnings Power Value

not applicable

only 2 years of net income (need ≥3)

Graham Number

not applicable

diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2024-12-31 · accession 0001193125-26-129221 (InterestAndDividendIncomeOperating)
10-K · period ending 2024-12-31 · accession 0001193125-26-129221 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001193125-26-129221 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001193125-26-129221 (PaymentsToAcquirePropertyPlantAndEquipment)