NB Bancorp, Inc.
NBBKdata completeness 88%4 fiscal years on fileData notes: no data for concept 'totalDebt'
NB Bancorp, Inc. earns about 16% on invested capital, comfortably above its ~9% cost of capital — a real edge showing up in the numbers. The estimate methods put fair value between $9.94 and $90.14 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 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | $121M1 | $222.2M2 | $292.5M2 | $335.7M2 |
| Net income | $30.1M3 | $9.83M4 | $42.1M4 | $50.3M4 |
| Operating cash flow | $39.7M5 | $52.9M6 | $43.2M6 | $60.8M6 |
| Capital expenditure | $8.5M7 | $2.87M8 | $1.94M8 | $3.42M8 |
| Free cash flow (derived) | $31.2M5 | $50M6 | $41.3M6 | $57.4M6 |
| Total debt | — | — | — | — |
| Cash & equivalents | $156.5M9 | $272.6M9 | $363.9M9 | $407.6M9 |
| Diluted shares | 0 | 42.0M | 39.4M | 37.6M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $228.28 of net worth that earned you $13.37 and generated $15.25 of cash last year.
It earned about 16% on invested capital against a ~9% cost of capital — comfortably above the cost of funding, a moderate advantage.
seeing a moat in the numbers →Not enough history to read capital allocation.
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 $9.94 and $90.14 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$50M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$50M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$36.1M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $29.83 |
| Base | 20.0% | $54.19 |
| Bull | 20.0% | $54.19 |
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 0001558370-25-002457 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-022367 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2022-12-31 · accession 0001558370-25-002457 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-022367 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001558370-25-002457 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-022367 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001558370-25-002457 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-022367 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001104659-26-022367 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)