HOPE BANCORP INC
HOPEdata completeness 100%17 fiscal years on fileHOPE BANCORP INC earns about 19% on invested capital, far above its ~9% cost of capital, but has diluted owners by 3% over 5 years — a real edge showing up in the numbers. The estimate methods put fair value between $10.93 and $19.24 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 | $566.5M1 | $716.1M2 | $1.05B3 | $954M3 | $941.2M3 |
| Net income | $204.6M4 | $218.3M5 | $133.7M6 | $99.6M6 | $61.6M6 |
| Operating cash flow | $324.2M7 | $485.5M8 | $473.8M9 | $116.7M9 | $164.5M9 |
| Capital expenditure | $7.22M10 | $9.11M11 | $13.1M12 | $9.81M12 | $13.1M12 |
| Free cash flow (derived) | $317M7 | $476.4M8 | $460.7M9 | $106.9M9 | $151.5M9 |
| Total debt | — | $865M13 | $1.8B14 | $239M15 | $285M15 |
| Cash & equivalents | $316.3M16 | $506.8M17 | $1.93B17 | $458.2M17 | $560.1M17 |
| Diluted shares | 123.1M | 120.5M | 120.4M | 121.1M | 126.8M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $180.1 of net worth that earned you $4.86 and generated $11.95 of cash last year, against $22.48 of debt.
It earned about 19% 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 →Share count is up 3% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 67% — 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 $10.93 and $19.24 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
- fcfGrowth0.0%
- fcfBase$151.5M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$151.5M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$133.7M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $19.24 |
| Base | 0.0% | $19.24 |
| Bull | 5.0% | $23.37 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
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.
- 10-K · period ending 2021-12-31 · accession 0001128361-24-000006 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2022-12-31 · accession 0001128361-25-000010 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2023-12-31 · accession 0001128361-26-000011 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2021-12-31 · accession 0001128361-24-000006 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001128361-25-000010 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001128361-26-000011 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001128361-24-000006 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001128361-25-000010 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001128361-26-000011 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001128361-24-000006 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001128361-25-000010 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001128361-26-000011 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001128361-24-000006 (ShortTermBorrowings)
- 10-K · period ending 2023-12-31 · accession 0001128361-25-000010 (ShortTermBorrowings)
- 10-K · period ending 2024-12-31 · accession 0001128361-26-000011 (ShortTermBorrowings)
- 10-K · period ending 2021-12-31 · accession 0001128361-25-000010 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2022-12-31 · accession 0001128361-26-000011 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)