NorthEast Community Bancorp, Inc./MD/
NECBdata completeness 100%6 fiscal years on fileNorthEast Community Bancorp, Inc./MD/ earns about 29% on invested capital, far above its ~9% cost of capital, and has bought back 14% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $33.69 and $211.15 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 | $48.4M1 | $72M2 | $132.5M3 | $160M4 | $154.1M4 |
| Net income | $11.9M5 | $24.8M6 | $46.3M7 | $47.1M8 | $44.4M8 |
| Operating cash flow | $21.6M9 | $27.5M10 | $42.8M11 | $48.7M12 | $52.6M12 |
| Capital expenditure | $6.45M13 | $3.3M14 | $626,00015 | $517,00016 | $1.75M16 |
| Free cash flow (derived) | $15.1M9 | $24.2M10 | $42.2M11 | $48.2M12 | $50.8M12 |
| Total debt | — | $21M17 | $64M18 | — | $70M19 |
| Cash & equivalents | $152.3M20 | $95.3M21 | $68.7M22 | $78.3M23 | $81.2M23 |
| Diluted shares | 15.9M | 15.7M | 13.9M | 13.4M | 13.7M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $257.49 of net worth that earned you $32.52 and generated $37.22 of cash last year, against $51.25 of debt.
It earned about 29% 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 down 14% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has risen 233% over the same window.
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 $33.69 and $211.15 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$48.2M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$48.2M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$44.4M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $51.2 |
| Base | 20.0% | $115.8 |
| Bull | 20.0% | $115.8 |
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 2021-12-31 · accession 0001558370-23-005059 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004281 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-002975 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-027566 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005059 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004281 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-002975 (NetIncomeLoss)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-027566 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005059 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004281 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-002975 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-027566 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005059 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004281 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-002975 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-027566 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004281 (LongTermDebt)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-002975 (LongTermDebt)
- 10-K · period ending 2025-12-31 · accession 0001104659-26-027566 (LongTermDebt)
- 10-K · period ending 2021-12-31 · accession 0001558370-23-005059 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004281 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-002975 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-027566 (CashAndCashEquivalentsAtCarryingValue)