Tri-County Financial Group, Inc.

TYFGdata completeness 88%2 fiscal years on file

Data notes: no data for concept 'capex'

The thesis, from the filings

Tri-County Financial Group, Inc. earns about 45% on invested capital, with a roughly flat share count. The cash-flow models don't apply cleanly here — the ledger says why below.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

Figure	FY 2024	FY 2025
Revenue	$15.6M¹	$17.2M¹
Net income	$10.4M²	$13.7M²
Operating cash flow	$13.5M³	$10.6M³
Capital expenditure	—	—
Free cash flow (derived)	—	—
Total debt	—	$141,000⁴
Cash & equivalents	$45M⁵	$49.6M⁵
Diluted shares	2.44B	2.41B

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal

If you owned

Net assets behind them

$0.65

your share of equity

Profit it earned you last year

$0.06

Free cash flow it threw off

—

Debt you’d be carrying

10 shares is a claim on $0.65 of net worth that earned you $0.06 last year, against $0 of debt.

iii. Is this a good business?

Moat signal · return on invested capital

45% avg · 2y

FY24 43%FY25 47%

It earned an average 45% on invested capital over 2 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

−1% shares · 2y

Share count is roughly flat over 2 years — little dilution, little buyback. Total debt has held roughly steady.

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 v0.1.0

DCF · Growth Exit 10Y

not applicable

only 0 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 0 years of FCF (need ≥3) — model not applicable

Earnings Power Value

not applicable

only 2 years of net income (need ≥3)

Graham Number

$2.89

assumptions (1)

grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2024-12-31 · accession 0001493152-26-009243 (RevenueFromContractWithCustomerIncludingAssessedTax)
10-K · period ending 2024-12-31 · accession 0001493152-26-009243 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001493152-26-009243 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2025-12-31 · accession 0001493152-26-009243 (LongTermDebt)
10-K · period ending 2024-12-31 · accession 0001493152-26-009243 (CashAndCashEquivalentsAtCarryingValue)