EASTERN CO
EMLdata completeness 100%19 fiscal years on fileEASTERN CO earns about 6% on invested capital, below its ~9% cost of capital, and has bought back 2% of its shares over 5 years — no moat visible in the numbers. The estimate methods put fair value between $14.58 and $84.7 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2023 | FY 2024 | FY 2026 |
|---|---|---|---|---|---|
| Revenue | $279.3M1 | $258.9M2 | $258.9M2 | $272.8M3 | $249M3 |
| Net income | $12.3M4 | $8.59M5 | $8.59M4 | −$8.53M6 | $7.13M6 |
| Operating cash flow | $7.46M7 | $25.5M8 | $25.5M8 | $19.4M9 | $8.87M9 |
| Capital expenditure | $3.37M10 | $5.54M11 | $5.54M11 | $9.71M12 | $3.97M12 |
| Free cash flow (derived) | $4.09M7 | $20M8 | $20M8 | $9.68M9 | $4.9M9 |
| Total debt | $128.3M13 | $87.9M14 | $87.9M14 | $84.5M15 | $67.8M15 |
| Cash & equivalents | $10.2M16 | $8.05M17 | $8.05M17 | $14M18 | $7.41M18 |
| Diluted shares | 6.2M | 6.3M | 6.3M | 6.2M | 6.1M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $204.33 of net worth that earned you $11.69 and generated $8.03 of cash last year, against $111.15 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 down 2% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 47% — deleveraging.
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 $14.58 and $84.7 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$9.68M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$9.68M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$8.59M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $12.76 |
| Base | 20.0% | $41.82 |
| Bull | 20.0% | $41.82 |
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 2022-12-31 · accession 0001654954-24-003010 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-30 · accession 0001654954-25-002610 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K/A · period ending 2024-12-28 · accession 0001654954-26-002506 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003010 (NetIncomeLoss)
- 10-K · period ending 2023-12-30 · accession 0001654954-25-002610 (NetIncomeLoss)
- 10-K/A · period ending 2024-12-28 · accession 0001654954-26-002506 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003010 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-30 · accession 0001654954-25-002610 (NetCashProvidedByUsedInOperatingActivities)
- 10-K/A · period ending 2024-12-28 · accession 0001654954-26-002506 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003010 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-30 · accession 0001654954-25-002610 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K/A · period ending 2024-12-28 · accession 0001654954-26-002506 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003010 (LongTermDebtNoncurrent)
- 10-K · period ending 2023-12-30 · accession 0001654954-25-002610 (LongTermDebtNoncurrent)
- 10-K/A · period ending 2024-12-28 · accession 0001654954-26-002506 (LongTermDebtNoncurrent)
- 10-K · period ending 2022-12-31 · accession 0001654954-23-002848 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-30 · accession 0001654954-25-002610 (CashAndCashEquivalentsAtCarryingValue)
- 10-K/A · period ending 2024-12-28 · accession 0001654954-26-002506 (CashAndCashEquivalentsAtCarryingValue)