PEOPLES FINANCIAL CORP /MS/
PFBXdata completeness 75%17 fiscal years on fileData notes: no data for concept 'revenue'; no data for concept 'totalDebt'
PEOPLES FINANCIAL CORP /MS/ earns about 29% on invested capital, far above its ~9% cost of capital, and has bought back 5% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $18.71 and $20.07 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 | — | — | — | — | — |
| Net income | $8.91M1 | $8.94M2 | $9.17M3 | $21.7M3 | $3.91M3 |
| Operating cash flow | $4.58M4 | $7.91M5 | $9.05M6 | $6.03M6 | $4.5M6 |
| Capital expenditure | $1.94M7 | — | $2.54M8 | $977,0008 | $302,0008 |
| Free cash flow (derived) | $2.64M4 | — | $6.51M6 | $5.06M6 | $4.2M6 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $50M9 | $32.8M10 | $22.8M10 | $107.7M10 | $19.6M10 |
| Diluted shares | 4.8M | 4.7M | 4.7M | 4.7M | 4.6M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $218.01 of net worth that earned you $8.47 and generated $9.1 of cash last year.
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 5% 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 $18.71 and $20.07 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$5.06M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$5.06M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$8.94M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $19.89 |
| Base | 0.0% | $19.89 |
| Bull | 5.0% | $23.68 |
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 0001437749-24-008643 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001558370-25-003310 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-030236 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001437749-24-008643 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001558370-25-003310 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-030236 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001437749-22-007177 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-030236 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0001558370-25-003310 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2022-12-31 · accession 0001104659-26-030236 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)