MeritValue

BANK OF HAWAII CORP

BOHdata completeness 100%18 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$526.7M1$112.7M2$116M3$122.1M3$121.9M3
Net income$253.4M4$225.8M5$171.2M6$150M6$205.9M6
Operating cash flow$377.2M7$333M8$138.8M9$170.9M9$218.3M9
Capital expenditure$22.4M10$28.8M11$9.4M12$9.68M12$34.1M12
Free cash flow (derived)$354.8M7$304.2M8$129.4M9$161.3M9$184.3M9
Total debt——$550M13$550M14$550M15
Cash & equivalents$560.4M16$401.8M17$1B18$763.6M19$946.5M19
Diluted shares40.1M39.8M39.4M39.7M39.9M

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
0.000025%
of the whole company
Your share of last year’s profit
$51.56
Your share of its debt
$137.73
Your share of free cash flow
$46.15
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$64.54
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth0.0%
  • fcfBase$161.3M
DCF · Growth Exit 5Y
$69.03
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth0.0%
  • fcfBase$161.3M
Earnings Power Value
$54.33
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$205.9M
  • growthAssumed0.0%
Graham Number
$69.49
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 years0.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $69.03

Default growth 0.0%= 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 2021-12-31 · accession 0000950170-24-023196 (InterestAndDividendIncomeOperating)
  2. 10-K · period ending 2022-12-31 · accession 0000950170-25-031193 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0000046195-26-000015 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0000950170-24-023196 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0000950170-25-031193 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0000046195-26-000015 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0000950170-24-023196 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0000950170-25-031193 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0000046195-26-000015 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0000950170-24-023196 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0000950170-25-031193 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0000046195-26-000015 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2023-12-31 · accession 0000950170-24-023196 (LongTermDebt)
  14. 10-K · period ending 2024-12-31 · accession 0000950170-25-031193 (LongTermDebt)
  15. 10-K · period ending 2025-12-31 · accession 0000046195-26-000015 (LongTermDebt)
  16. 10-K · period ending 2021-12-31 · accession 0001564590-23-002876 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2022-12-31 · accession 0000950170-24-023196 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-12-31 · accession 0000950170-25-031193 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2024-12-31 · accession 0000046195-26-000015 (CashAndCashEquivalentsAtCarryingValue)