MeritValue

CoastalSouth Bancshares, Inc.

COSOdata completeness 88%2 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

CoastalSouth Bancshares, Inc. earns about 53% on invested capital, but has diluted owners by 10% over 2 years — worth asking whether the growth reaches owners. 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
FigureFY 2024FY 2025
Revenue$1.87M1$1.99M1
Net income$21.9M2$24.9M2
Operating cash flow−$12.7M3$63.1M3
Capital expenditure$1.41M4$1.83M4
Free cash flow (derived)−$14.1M3$61.3M3
Total debt——
Cash & equivalents$68M5$79.8M5
Diluted shares10.5M11.5M

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
shares
Net assets behind them
$225.28
your share of equity
Profit it earned you last year
$21.61
Free cash flow it threw off
$53.21
Debt you’d be carrying
—

10 shares is a claim on $225.28 of net worth that earned you $21.61 and generated $53.21 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
53% avg · 2y
FY24 59%FY25 47%

It earned an average 53% 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
+10% shares · 2y

Share count is up 10% over 2 years — owners have been diluted. Worth asking what they got for it.

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
$33.09
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2024-12-31 · accession 0001193125-26-104114 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2024-12-31 · accession 0001193125-26-104114 (NetIncomeLoss)
  3. 10-K · period ending 2024-12-31 · accession 0001193125-26-104114 (NetCashProvidedByUsedInOperatingActivities)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-104114 (PaymentsToAcquirePropertyPlantAndEquipment)
  5. 10-K · period ending 2024-12-31 · accession 0001193125-26-104114 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)