PCB BANCORP
PCBdata completeness 88%10 fiscal years on fileData notes: no data for concept 'totalDebt'
PCB BANCORP earns about 58% on invested capital, far above its ~9% cost of capital, and has bought back 6% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $25.39 and $160.32 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 | $2.37M1 | $2.64M2 | $2.65M3 | $2.77M3 | $2.9M3 |
| Net income | $40.1M4 | $35M5 | $30.7M6 | $25.8M6 | $37.5M6 |
| Operating cash flow | −$1.62M7 | $57.3M8 | $63.3M9 | $39M9 | $26.6M9 |
| Capital expenditure | $430,00010 | $5.45M11 | $1.32M12 | $4.08M12 | $2.19M12 |
| Free cash flow (derived) | −$2.05M7 | $51.8M8 | $62M9 | $34.9M9 | $24.4M9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $203.3M13 | $147M14 | $242.3M15 | $198.8M16 | $207.1M16 |
| Diluted shares | 15.3M | 15.1M | 14.4M | 14.3M | 14.3M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $273.14 of net worth that earned you $26.23 and generated $17.09 of cash last year.
It earned about 58% 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 6% 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.
The 3 estimate methods that apply put fair value between $25.39 and $160.32 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$34.9M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$34.9M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$35M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $49.44 |
| Base | 20.0% | $94.22 |
| Bull | 20.0% | $94.22 |
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 0001423869-24-000006 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-12-31 · accession 0001423869-25-000006 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0001423869-26-000006 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-12-31 · accession 0001423869-24-000006 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001423869-25-000006 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001423869-26-000006 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001423869-24-000006 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001423869-25-000006 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001423869-26-000006 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001423869-24-000006 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001423869-25-000006 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001423869-26-000006 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0001423869-23-000007 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0001423869-24-000006 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0001423869-25-000006 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001423869-26-000006 (CashAndCashEquivalentsAtCarryingValue)