Pioneer Bancorp, Inc./MD
PBFSdata completeness 75%8 fiscal years on fileData notes: no data for concept 'totalDebt'
Pioneer Bancorp, Inc./MD earns about 30% on invested capital, far above its ~9% cost of capital, with a roughly flat share count — a real edge showing up in the numbers. The estimate methods put fair value between $6.44 and $24.09 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 | $12.8M1 | $13.2M2 | $13M3 | $15M4 | $15.8M4 |
| Net income | $1.08M5 | $10.3M6 | $21.9M7 | $15.3M8 | $20.3M8 |
| Operating cash flow | $32.7M9 | $50M10 | $26.3M11 | $23.8M12 | $11.1M12 |
| Capital expenditure | $596,00013 | $780,00014 | $451,00014 | — | — |
| Free cash flow (derived) | $32.1M9 | $49.2M10 | $25.8M11 | — | — |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $325M15 | $376.1M16 | $150.5M17 | $165.2M17 | $133.7M17 |
| Diluted shares | 25.1M | 25.1M | 25.2M | 25.2M | 24.6M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $131.83 of net worth that earned you $8.26 last year.
It earned about 30% 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 roughly flat over 5 years — little dilution, little buyback.
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 $6.44 and $24.09 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$32.1M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$32.1M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$15.3M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $24.09 |
| Base | 0.0% | $24.09 |
| Bull | 5.0% | $28.6 |
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 2021-06-30 · accession 0001558370-22-014598 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-06-30 · accession 0001558370-23-016048 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-06-30 · accession 0001558370-24-013020 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2024-06-30 · accession 0001104659-26-027092 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-06-30 · accession 0001558370-22-014598 (NetIncomeLoss)
- 10-K · period ending 2022-06-30 · accession 0001558370-23-016048 (NetIncomeLoss)
- 10-K · period ending 2023-06-30 · accession 0001558370-24-013020 (NetIncomeLoss)
- 10-K · period ending 2024-06-30 · accession 0001104659-26-027092 (NetIncomeLoss)
- 10-K · period ending 2021-06-30 · accession 0001558370-22-014598 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-06-30 · accession 0001558370-23-016048 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-06-30 · accession 0001558370-24-013020 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-06-30 · accession 0001104659-26-027092 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-06-30 · accession 0001558370-22-014598 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-06-30 · accession 0001558370-23-016048 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-06-30 · accession 0001558370-21-012827 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-06-30 · accession 0001558370-24-013020 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2023-06-30 · accession 0001104659-26-027092 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)