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QUAINT OAK BANCORP, INC.

QNTOdata completeness 75%16 fiscal years on file
The thesis, from the filings

QUAINT OAK BANCORP, INC. earns about 9% on equity, but has diluted owners by 26% over 5 years — worth asking whether the growth reaches owners. The applicable estimate puts fair value near $10.62 a share. Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$25M1$32.5M2$44.9M3$43.4M4$40.6M4
Net income$6.4M5$7.86M6$2.02M7$2.8M8$322,0008
Operating cash flow−$37.4M9−$12.2M10$78.4M11$32.6M12$4.15M12
Capital expenditure—————
Free cash flow (derived)—————
Total debt$013$5.49M14$5.55M14——
Cash & equivalents$10.7M15$3.89M16$58M17$63M18$53.5M18
Diluted shares2.1M2.2M2.3M2.6M2.6M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom). A derived or summed figure cites every filing line it was built from.

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$198.77
your share of equity
Profit it earned you last year
$1.22
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $198.77 of net worth that earned you $1.22 last year.

iii. Is this a good business?
Moat signal · return on equity
9% avg · 5y
FY21 18%FY22 18%FY23 4%FY24 5%FY25 1%

It earned an average 9% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+26% shares · 5y

Share count is up 26% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.6.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Why: this is a bank. Banks report no capital expenditure line, so free cash flow can't be derived — and for a lender, moving cash is the business itself, so a cash-flow DCF doesn't describe it.
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Why: this is a bank. Banks report no capital expenditure line, so free cash flow can't be derived — and for a lender, moving cash is the business itself, so a cash-flow DCF doesn't describe it.
Earnings Power Value
$10.62
assumptions (8)
  • Risk-free rate (10Y Treasury)5.00%
  • Equity risk premium5.00%
  • Beta (β)1.00
  • Equity share of capital85.0%
  • Debt spread over risk-free1.50%
  • Tax rate21.0%
  • Normalized earnings$2.8M
  • Growth assumed0.0%
Graham Number
$7.31
assumptions (1)
  • Graham multiplier (P/E × P/B)22.5×

Different models answer different questions — which to trust when →

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Sources — the receipts
  1. 10-K filed 2023-03-31 · period ending 2021-12-31 · accession 0000927089-23-000035 (InterestAndDividendIncomeOperating)
  2. 10-K filed 2024-03-28 · period ending 2022-12-31 · accession 0000927089-24-000048 (InterestAndDividendIncomeOperating)
  3. 10-K filed 2025-03-28 · period ending 2023-12-31 · accession 0000927089-25-000064 (InterestAndDividendIncomeOperating)
  4. 10-K filed 2026-03-27 · periods ending 2024-12-31, 2025-12-31 · accession 0000927089-26-000044 (InterestAndDividendIncomeOperating)
  5. 10-K filed 2023-03-31 · period ending 2021-12-31 · accession 0000927089-23-000035 (NetIncomeLoss)
  6. 10-K filed 2024-03-28 · period ending 2022-12-31 · accession 0000927089-24-000048 (NetIncomeLoss)
  7. 10-K filed 2025-03-28 · period ending 2023-12-31 · accession 0000927089-25-000064 (NetIncomeLoss)
  8. 10-K filed 2026-03-27 · periods ending 2024-12-31, 2025-12-31 · accession 0000927089-26-000044 (NetIncomeLoss)
  9. 10-K filed 2023-03-31 · period ending 2021-12-31 · accession 0000927089-23-000035 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K filed 2024-03-28 · period ending 2022-12-31 · accession 0000927089-24-000048 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K filed 2025-03-28 · period ending 2023-12-31 · accession 0000927089-25-000064 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K filed 2026-03-27 · periods ending 2024-12-31, 2025-12-31 · accession 0000927089-26-000044 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K filed 2023-03-31 · period ending 2021-12-31 · accession 0000927089-23-000035 (OtherShortTermBorrowings)
  14. 10-K filed 2024-03-28 · periods ending 2022-12-31, 2023-12-31 · accession 0000927089-24-000048 (OtherShortTermBorrowings)
  15. 10-K filed 2023-03-31 · period ending 2021-12-31 · accession 0000927089-23-000035 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K filed 2024-03-28 · period ending 2022-12-31 · accession 0000927089-24-000048 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K filed 2025-03-28 · period ending 2023-12-31 · accession 0000927089-25-000064 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K filed 2026-03-27 · periods ending 2024-12-31, 2025-12-31 · accession 0000927089-26-000044 (CashAndCashEquivalentsAtCarryingValue)