BayCom Corp
BCMLdata completeness 88%10 fiscal years on fileBayCom Corp earns about 330% on invested capital, far above its ~9% cost of capital, with a roughly flat share count — a real edge showing up in the numbers. The estimate methods put fair value between $22.37 and $174.42 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $81.6M1 | $107.1M2 | $126.3M3 | $131.7M3 | $135.4M3 |
| Net income | $20.7M4 | $23.7M5 | $27.4M6 | $23.6M6 | $23.9M6 |
| Operating cash flow | $10.4M7 | $39.6M8 | $30.8M9 | $30.4M9 | $31.8M9 |
| Capital expenditure | $1.31M10 | $843,00011 | $2.12M12 | $1.7M12 | $1.75M12 |
| Free cash flow (derived) | $9.12M7 | $38.8M8 | $28.7M9 | $28.7M9 | $30.1M9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $379.7M13 | $176.8M14 | $307.5M14 | $364M14 | $206.5M14 |
| Diluted shares | 10.9M | 13.1M | 12.1M | 11.3M | 11.0M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $308.04 of net worth that earned you $21.77 and generated $27.37 of cash last year.
It earned about 330% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is roughly flat over 5 years — little dilution, little buyback.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $22.37 and $174.42 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth20.0%
- fcfBase$28.7M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$28.7M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$23.7M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $56.07 |
| Base | 20.0% | $103.87 |
| Bull | 20.0% | $103.87 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
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.
- 10-K · period ending 2021-12-31 · accession 0001730984-24-000028 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2022-12-31 · accession 0001730984-25-000017 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2023-12-31 · accession 0001730984-26-000016 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2021-12-31 · accession 0001730984-24-000028 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001730984-25-000017 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001730984-26-000016 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001730984-24-000028 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001730984-25-000017 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001730984-26-000016 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001730984-24-000028 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001730984-25-000017 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001730984-26-000016 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0001730984-25-000017 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2022-12-31 · accession 0001730984-26-000016 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)