MeritValue

California BanCorp \ CA

BCALdata completeness 100%4 fiscal years on file
i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025
Revenue$93.6M1$123.5M2$179.8M3$226M3
Net income$16.1M4$25.9M5$5.43M6$63.1M6
Operating cash flow$13.4M7$33.1M8$50.3M9$57.3M9
Capital expenditure$1.08M10$302,00011$552,00012$346,00012
Free cash flow (derived)$12.3M7$32.8M8$49.7M9$56.9M9
Total debt$67.8M13$102.9M14$69.7M15$33.8M15
Cash & equivalents$86.8M16$86.8M17$388.2M18$399.9M18
Diluted shares18.2M18.7M24.6M32.7M

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
shares
You’d own
0.000031%
of the whole company
Your share of last year’s profit
$19.26
Your share of its debt
$10.33
Your share of free cash flow
$17.39
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$104.52
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth20.0%
  • fcfBase$49.7M
DCF · Growth Exit 5Y
$62.01
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth20.0%
  • fcfBase$49.7M
Earnings Power Value
$6.76
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$21M
  • growthAssumed0.0%
Graham Number
$27.65
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years20.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $62.01

Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2022-12-31 · accession 0001628280-24-011472 (InterestAndDividendIncomeOperating)
  2. 10-K · period ending 2023-12-31 · accession 0001628280-25-015957 (InterestAndDividendIncomeOperating)
  3. 10-K · period ending 2024-12-31 · accession 0001795815-26-000005 (InterestAndDividendIncomeOperating)
  4. 10-K · period ending 2022-12-31 · accession 0001628280-24-011472 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001628280-25-015957 (NetIncomeLoss)
  6. 10-K · period ending 2024-12-31 · accession 0001795815-26-000005 (NetIncomeLoss)
  7. 10-K · period ending 2022-12-31 · accession 0001628280-24-011472 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001628280-25-015957 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-12-31 · accession 0001795815-26-000005 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001628280-24-011472 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2023-12-31 · accession 0001628280-25-015957 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2024-12-31 · accession 0001795815-26-000005 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-12-31 · accession 0001628280-24-011472 (LongTermDebt)
  14. 10-K · period ending 2023-12-31 · accession 0001628280-25-015957 (LongTermDebt)
  15. 10-K · period ending 2024-12-31 · accession 0001795815-26-000005 (LongTermDebt)
  16. 10-K · period ending 2022-12-31 · accession 0001628280-24-011472 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2023-12-31 · accession 0001628280-25-015957 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2024-12-31 · accession 0001795815-26-000005 (CashAndCashEquivalentsAtCarryingValue)