PARK AEROSPACE CORP
PKEdata completeness 88%17 fiscal years on filePARK AEROSPACE CORP earns about 10% on invested capital, barely covering its ~9% cost of capital, and has bought back 2% of its shares over 5 years. The estimate methods put fair value between $4.36 and $6.62 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 | FY 2026 |
|---|---|---|---|---|---|
| Revenue | $53.6M1 | $54.1M2 | $56M3 | $62M3 | $73.3M3 |
| Net income | $8.46M4 | $10.7M5 | $7.47M6 | $5.88M6 | $11.3M6 |
| Operating cash flow | $8.2M7 | $6.49M8 | $4.41M9 | $4.72M9 | $11.5M9 |
| Capital expenditure | $4.37M10 | $1.05M11 | $645,00012 | $889,00012 | $2.04M12 |
| Free cash flow (derived) | $3.83M7 | $5.44M8 | $3.76M9 | $3.83M9 | $9.46M9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $12.8M13 | $4.24M14 | $6.57M15 | $21.6M16 | $78.5M16 |
| Diluted shares | 20.6M | 20.5M | 20.4M | 20.2M | 20.1M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $64.6 of net worth that earned you $5.6 and generated $4.7 of cash last year.
It earned about 10% on invested capital against a ~9% cost of capital — roughly what it costs to fund the business, so the numbers show no clear edge.
seeing a moat in the numbers →Share count is down 2% 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 $4.36 and $6.62 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$3.83M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$3.83M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$8.46M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $6.62 |
| Base | 0.0% | $6.62 |
| Bull | 5.0% | $7.28 |
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 2022-02-27 · accession 0001437749-24-019951 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 10-K · period ending 2023-02-26 · accession 0001437749-25-019023 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 10-K · period ending 2024-03-03 · accession 0001437749-26-018900 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 10-K · period ending 2022-02-27 · accession 0001437749-24-019951 (NetIncomeLoss)
- 10-K · period ending 2023-02-26 · accession 0001437749-25-019023 (NetIncomeLoss)
- 10-K · period ending 2024-03-03 · accession 0001437749-26-018900 (NetIncomeLoss)
- 10-K · period ending 2022-02-27 · accession 0001437749-24-019951 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-02-26 · accession 0001437749-25-019023 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-03-03 · accession 0001437749-26-018900 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-02-27 · accession 0001437749-24-019951 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-02-26 · accession 0001437749-25-019023 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-03-03 · accession 0001437749-26-018900 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-02-27 · accession 0001437749-23-014178 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-02-26 · accession 0001437749-24-019951 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-03-03 · accession 0001437749-25-019023 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2025-03-02 · accession 0001437749-26-018900 (CashAndCashEquivalentsAtCarryingValue)