A Business at a Glance
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FORWARD-LOOKING STATEMENTS This Annual Report contains forward-looking statements, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “assume,” “plan,” “seek,” “expect,” “will,” “may,” “should,” “indicate,” “would,” “believe,” “contemplate,” “continue,” “target” and words of similar meaning. These forward-looking statements include, but are not limited to: •statements of our goals, intentions and expectations; •statements regarding our business plans, prospects, growth and operating strategies; •statements regarding the asset quality of our loan and investment portfolios; and •estimates of our risks and future costs and benefits. These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 31M | 26M | 26M | 25M | 20M |
| Net Income | 6.6M | 4.0M | 4.5M | 2.7M | 4.0M |
| EPS | $0.80 | $0.48 | $0.52 | $0.32 | $0.44 |
| Free Cash Flow | 9.6M | 6.2M | 6.1M | 7.6M | 6.3M |
| ROIC | 0.0% | 17.3% | 12.4% | 4.3% | 8.8% |
| Gross Margin | - | - | - | - | - |
| Debt/Equity | 0.00 | 7.43 | 6.76 | 5.54 | 7.63 |
| Dividends/Share | $0.00 | - | - | - | - |
| Operating Income | 0 | 39M | 27M | 9.0M | 9.2M |
| Operating Margin | 0.0% | 148.0% | 106.0% | 36.0% | 46.0% |
| ROE | 3.9% | 2.4% | 2.7% | 1.7% | 5.2% |
| Shares Outstanding | 9M | 8M | 9M | 9M | 9M |
| Metric | 2021 | 2022 | |||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 20M | 25M | 26M | 26M | 31M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 9.2M | 9.0M | 27M | 39M | 0 |
| Op. Margin | 46.0% | 36.0% | 106.0% | 148.0% | 0.0% |
| Net Income | 4.0M | 2.7M | 4.5M | 4.0M | 6.6M |
| Net Margin | 20.3% | 10.9% | 17.2% | 15.2% | 21.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | 8.8% | 4.3% | 12.4% | 17.3% | 0.0% |
| ROE | 5.2% | 1.7% | 2.7% | 2.4% | 3.9% |
| ROA | 0.6% | 0.3% | 0.3% | 0.3% | 105.2% |
| Cash Flow | |||||
| Op. Cash Flow | 6.4M | 7.8M | 6.4M | 6.3M | 9.8M |
| Free Cash Flow | 6.3M | 7.6M | 6.1M | 6.2M | 9.6M |
| Owner Earnings | 6.1M | 7.5M | 5.7M | 5.5M | 9.0M |
| CapEx | 104K | 216K | 335K | 60K | 0 |
| Maint. CapEx | 300K | 302K | 279K | 302K | 302K |
| Growth CapEx | 0 | 0 | 56K | 0 | 0 |
| D&A | 300K | 302K | 279K | 302K | 302K |
| CapEx/OCF | N/A | 2.8% | 5.2% | 1.0% | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 2.2M | 2.7M | 2.7M |
| Buyback Yield | N/A | N/A | 2.1% | 2.2% | 1.7% |
| Stock-Based Comp | 0 | N/A | 470K | 494K | 494K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | N/A | N/A | N/A | N/A | 0 |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 7.63 | 5.54 | 6.76 | 7.43 | 0.00 |
| Interest Coverage | 2.5 | 1.6 | 1.3 | 1.2 | 1.2 |
| Equity | 77M | 163M | 165M | 168M | 169M |
| Total Assets | 666M | 1.1B | 1.3B | 1.4B | 6.3M |
| Total Liabilities | 589M | 902M | 1.1B | 1.2B | 85M |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 77M | 80M | 84M | 88M | 88M |
| Working Capital | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||
| EPS | 0.44 | 0.32 | 0.52 | 0.48 | 0.80 |
| Owner EPS | 0.67 | 0.88 | 0.66 | 0.66 | 1.02 |
| Book Value | 8.42 | 19.14 | 19.24 | 20.24 | 19.25 |
| Cash Flow/Share | 0.70 | 0.91 | 0.75 | 0.76 | 0.79 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 9.2M | 8.5M | 8.6M | 8.3M | 8.8M |
| Valuation | |||||
| P/E Ratio | N/A | 49.8 | 24.2 | 31.0 | 22.5 |
| P/FCF | N/A | 17.9 | 17.7 | 19.9 | 16.5 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 0.8 | 0.7 | 0.7 | 0.9 |
| Price/Sales | N/A | 5.2 | 4.3 | 4.3 | 5.1 |
| FCF Yield | N/A | 5.6% | 5.6% | 5.0% | 6.1% |
| Market Cap | N/A | 135M | 108M | 124M | 159M |
| Avg. Price | N/A | 15.21 | 12.82 | 13.45 | 18.03 |
| Year-End Price | N/A | 15.93 | 12.61 | 14.90 | 18.03 |
ECB Bancorp, Inc. /MD/ passes 2 of 9 quality checks, indicating weak fundamentals.
ECB Bancorp, Inc. /MD/ trades at 22.5x trailing earnings, compared to its 15-year median P/E of 31.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.5x vs a median of 17.9x. The company's 5-year average ROIC is 10.7%. Total shareholder yield (buybacks) is 1.7%. At current prices, the estimated annualized return to fair value is -5.0%.
ECB Bancorp, Inc. /MD/ (ECBK) has a current P/E ratio of 22.5, compared to its historical median P/E of 31.0. The stock is currently considered Fair based on its historical valuation range.
ECB Bancorp, Inc. /MD/ (ECBK) has a 5-year average return on invested capital (ROIC) of 10.7%. This indicates solid capital allocation.
ECB Bancorp, Inc. /MD/ (ECBK) has a market capitalization of $159M. It is classified as a small-cap stock.
ECB Bancorp, Inc. /MD/ (ECBK) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.72%.
Based on historical P/E analysis, ECB Bancorp, Inc. /MD/ (ECBK) appears fair. The current P/E of 22.5 is 27% below its historical median of 31.0. The estimated fair value CAGR (P/E method) is 17.3%.
ECB Bancorp, Inc. /MD/ (ECBK) operates in the Savings Institutions, Not Federally Chartered industry, within the Financials sector.
ECB Bancorp, Inc. /MD/ (ECBK) reported annual revenue of $26 million in its most recent fiscal year, based on SEC EDGAR filings.
ECB Bancorp, Inc. /MD/ (ECBK) has a net profit margin of 15.2%. This is a healthy margin.
ECB Bancorp, Inc. /MD/ (ECBK) generated $6 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ECB Bancorp, Inc. /MD/ (ECBK) has a debt-to-equity ratio of 7.43. This indicates higher leverage, which may increase financial risk.
ECB Bancorp, Inc. /MD/ (ECBK) reported earnings per share (EPS) of $0.48 in its most recent fiscal year.
ECB Bancorp, Inc. /MD/ (ECBK) has a return on equity (ROE) of 2.4%. This indicates moderate shareholder returns.
The Ledger Terminal provides 4 years of financial data for ECB Bancorp, Inc. /MD/ (ECBK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ECB Bancorp, Inc. /MD/ (ECBK) has a book value per share of $20.24, based on its most recent annual SEC filing.
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