MeritValue

Home Federal Bancorp, Inc. of Louisiana

HFBLdata completeness 75%15 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

Home Federal Bancorp, Inc. of Louisiana earns about 68% on invested capital, far above its ~9% cost of capital, and has bought back 10% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $16.4 and $238.42 a share.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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$991,0001$1.15M2$1.48M3$1.11M4$1.3M4
Net income$5.37M5$4.87M6$5.7M7$3.59M8$3.89M8
Operating cash flow$8.33M9$17.1M10$12.1M11$2.32M12$5.47M12
Capital expenditure$124,00013$014$90,00015$38,00015—
Free cash flow (derived)$8.21M9$17.1M10$12M11$2.28M12—
Total debt—————
Cash & equivalents$104.4M16$64.1M17$24.8M18$34.9M18$17.3M18
Diluted shares3.4M3.5M3.2M3.1M3.1M

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
$179.33
your share of equity
Profit it earned you last year
$12.63
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $179.33 of net worth that earned you $12.63 last year.

iii. Is this a good business?
Moat signal · return on invested capital
68% avg · 5y
FY21 —FY22 —FY23 39%FY24 114%FY25 51%

It earned about 68% 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 →
Management signal · capital allocation
−10% shares · 5y

Share count is down 10% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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

The 3 estimate methods that apply put fair value between $16.4 and $238.42 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.

DCF · Growth Exit 10Y
$238.42
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth20.0%
  • fcfBase$12M
DCF · Growth Exit 5Y
$132.89
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth20.0%
  • fcfBase$12M
Earnings Power Value
$16.4
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$4.87M
  • growthAssumed0.0%
Graham Number
$22.55
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

v. The price question — last, on purpose
Is today’s price fair?
See live price ↗
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years20.0%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $132.89
The three cases
Bear0.0%$61.4
Base20.0%$132.89
Bull20.0%$132.89

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.

Sources — the receipts
  1. 10-K · period ending 2021-06-30 · accession 0001140361-22-034709 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-06-30 · accession 0001140361-23-046338 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-06-30 · accession 0001140361-24-042337 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-06-30 · accession 0001140361-25-036293 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-06-30 · accession 0001140361-22-034709 (NetIncomeLoss)
  6. 10-K · period ending 2022-06-30 · accession 0001140361-23-046338 (NetIncomeLoss)
  7. 10-K · period ending 2023-06-30 · accession 0001140361-24-042337 (NetIncomeLoss)
  8. 10-K · period ending 2024-06-30 · accession 0001140361-25-036293 (NetIncomeLoss)
  9. 10-K · period ending 2021-06-30 · accession 0001140361-22-034709 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-06-30 · accession 0001140361-23-046338 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-06-30 · accession 0001140361-24-042337 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-06-30 · accession 0001140361-25-036293 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-06-30 · accession 0001140361-22-034709 (PaymentsForCapitalImprovements)
  14. 10-K · period ending 2022-06-30 · accession 0001140361-23-046338 (PaymentsForCapitalImprovements)
  15. 10-K · period ending 2023-06-30 · accession 0001140361-24-042337 (PaymentsForCapitalImprovements)
  16. 10-K · period ending 2021-06-30 · accession 0001140361-23-046338 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  17. 10-K · period ending 2022-06-30 · accession 0001140361-24-042337 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  18. 10-K · period ending 2023-06-30 · accession 0001140361-25-036293 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)