Winchester Bancorp, Inc./MD/

WSBKdata completeness 75%2 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'totalDebt'

The thesis, from the filings

Winchester Bancorp, Inc./MD/ earns about 31% on invested capital. 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	$34.9M¹	$42.7M¹
Net income	$786,000²	−$874,000²
Operating cash flow	$231,000³	$2.47M³
Capital expenditure	—	—
Free cash flow (derived)	—	—
Total debt	—	—
Cash & equivalents	$44.1M⁴	$55.2M⁴
Diluted shares	0	9.2M

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

$124.74

your share of equity

Profit it earned you last year

−$0.95

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $124.74 of net worth that earned you −$0.95 last year.

iii. Is this a good business?

Moat signal · return on invested capital

31% avg · 2y

FY24 42%FY25 21%

It earned an average 31% 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

— shares · 2y

Not enough history to read capital allocation.

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

not applicable

diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2024-06-30 · accession 0001193125-25-206332 (InterestAndDividendIncomeOperating)
10-K · period ending 2024-06-30 · accession 0001193125-25-206332 (NetIncomeLoss)
10-K · period ending 2024-06-30 · accession 0001193125-25-206332 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-06-30 · accession 0001193125-25-206332 (CashAndCashEquivalentsAtCarryingValue)