PFS Bancorp, Inc.
PFSBdata completeness 88%4 fiscal years on fileData notes: no data for concept 'totalDebt'
PFS Bancorp, Inc. earns about 35% on invested capital, far above its ~9% cost of capital, and has bought back 4% of its shares over 4 years — the marks of a durable business run for its owners. The estimate methods put fair value between $6.47 and $27.75 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 | $4.8M1 | $6.56M2 | $8.01M3 | $8.94M3 |
| Net income | $831,0004 | $1.01M5 | $905,0006 | $1.67M6 |
| Operating cash flow | $2.21M7 | $1.94M8 | $1.37M9 | $2.14M9 |
| Capital expenditure | $136,00010 | $44,00011 | $219,00012 | $21,00012 |
| Free cash flow (derived) | $2.07M7 | $1.89M8 | $1.15M9 | $2.12M9 |
| Total debt | — | — | — | — |
| Cash & equivalents | $12.7M13 | $20.2M14 | $16.3M14 | $15.5M14 |
| Diluted shares | — | 1.6M | 1.6M | 1.5M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $254.79 of net worth that earned you $10.9 and generated $13.8 of cash last year.
It earned about 35% 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 4% over 4 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 $6.47 and $27.75 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$1.89M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$1.89M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$956,500
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $27.75 |
| Base | 0.0% | $27.75 |
| Bull | 5.0% | $32.02 |
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 2022-12-31 · accession 0001558370-24-003964 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-004028 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-034464 (InterestAndDividendIncomeOperating)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-003964 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-004028 (NetIncomeLoss)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-034464 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-003964 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-004028 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-034464 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-003964 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-004028 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-034464 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001558370-25-004028 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2023-12-31 · accession 0001104659-26-034464 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)