Catalyst Bancorp, Inc.
CLSTdata completeness 100%6 fiscal years on fileCatalyst Bancorp, Inc. earns about 6% on invested capital, below its ~9% cost of capital, but has diluted owners by 75378% over 5 years — no moat visible in the numbers. The estimate methods put fair value between $1.48 and $47.35 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 | $7.7M1 | $8.01M2 | $9.66M3 | $13.9M4 | $13.9M4 |
| Net income | $1.92M5 | $180,0006 | $526,0007 | −$3.09M8 | $2.05M8 |
| Operating cash flow | $3.43M9 | $772,00010 | $2.01M11 | $3.17M12 | $3.29M12 |
| Capital expenditure | $1.51M13 | $252,00014 | $172,00015 | $430,00016 | $188,00016 |
| Free cash flow (derived) | $1.92M9 | $520,00010 | $1.84M11 | $2.74M12 | $3.1M12 |
| Total debt | $9.02M17 | $9.2M18 | $19.4M19 | $9.56M20 | $14.7M20 |
| Cash & equivalents | $40.9M21 | $13.5M22 | $19M23 | $44.3M24 | $25.2M24 |
| Diluted shares | 4,869 | 4.9M | 4.4M | 3.9M | 3.7M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $222.38 of net worth that earned you $5.58 and generated $8.43 of cash last year, against $40.09 of debt.
It earned about 6% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 75378% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 63% over the same window.
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 $1.48 and $47.35 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$2.74M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$2.74M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$526,000
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $13.51 |
| Base | 20.0% | $27.18 |
| Bull | 20.0% | $27.18 |
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 0001558370-23-005015 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004220 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003964 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037676 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005015 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004220 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003964 (NetIncomeLoss)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037676 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005015 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004220 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003964 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037676 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005015 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004220 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003964 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037676 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005015 (LongTermDebt)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004220 (LongTermDebt)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003964 (LongTermDebt)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037676 (LongTermDebt)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005015 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004220 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003964 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037676 (CashAndCashEquivalentsAtCarryingValue)