A Business at a Glance
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General Overview John Marshall Bancorp, Inc. was organized as a Virginia corporation in 2016 to serve as the holding company for John Marshall Bank. The Company and the Bank are each headquartered in Reston, Virginia (approximately 20 miles west of Washington, D.C.). The Company commenced operations as a bank holding company on March 1, 2017 following a reorganization transaction in which it became the Bank’s holding company. This transaction was treated as an internal reorganization as all shareholders of the Bank became shareholders of the Company. As a bank holding company, the Company is subject to regulation and supervision by the Federal Reserve. The Company has no material operations other than its sole ownership of the Bank. The Bank is a Virginia chartered commercial bank that commenced operations in 2006. The Bank is supervised and regulated by the Federal Reserve and the Bureau of Financial Institutions of the Virginia State Corporation Commission (the “Virginia BFI”).
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 61M | 53M | 36M | 72M | 68M |
| Net Income | 20M | 17M | 5.2M | 32M | 25M |
| EPS | $1.40 | $1.20 | $0.36 | $2.25 | $1.83 |
| Free Cash Flow | 20M | 17M | 17M | 33M | 32M |
| ROIC | 7.7% | 46.9% | 27.2% | 28.2% | 31.1% |
| Gross Margin | - | - | - | - | - |
| Debt/Equity | 0.00 | 8.06 | 8.75 | 10.03 | 9.31 |
| Dividends/Share | $0.00 | $0.25 | $0.22 | $0.20 | - |
| Operating Income | 113K | 76M | 55M | 54M | 40M |
| Operating Margin | 0.2% | 143.2% | 155.2% | 74.5% | 59.8% |
| ROE | 7.7% | 7.2% | 2.2% | 14.9% | 12.2% |
| Shares Outstanding | 14M | 14M | 14M | 14M | 14M |
| Metric | 2021 | 2022 | |||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 68M | 72M | 36M | 53M | 61M |
| 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 | 40M | 54M | 55M | 76M | 113K |
| Op. Margin | 59.8% | 74.5% | 155.2% | 143.2% | 0.2% |
| Net Income | 25M | 32M | 5.2M | 17M | 20M |
| Net Margin | 37.6% | 44.1% | 14.5% | 32.1% | 33.1% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | 31.1% | 28.2% | 27.2% | 46.9% | 7.7% |
| ROE | 12.2% | 14.9% | 2.2% | 7.2% | 7.7% |
| ROA | 1.2% | 1.4% | 0.2% | 0.8% | 138.0% |
| Cash Flow | |||||
| Op. Cash Flow | 32M | 33M | 18M | 17M | 21M |
| Free Cash Flow | 32M | 33M | 17M | 17M | 20M |
| Owner Earnings | 31M | 32M | 17M | 16M | 20M |
| CapEx | 353K | 156K | 612K | 483K | 788K |
| Maint. CapEx | 814K | 557K | 484K | 447K | 447K |
| Growth CapEx | 0 | 0 | 128K | 36K | 341K |
| D&A | 814K | 557K | 484K | 447K | 447K |
| CapEx/OCF | 1.1% | 0.5% | 3.4% | 2.8% | 3.7% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 2.8M | 3.1M | 3.6M | 0 |
| Dividend Yield | N/A | 0.8% | 1.1% | 1.3% | N/A |
| Share Buybacks | 0 | 0 | 0 | 49K | 49K |
| Buyback Yield | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 560K | 573K | 596K | 555K | 555K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | N/A | N/A | N/A | N/A | -164M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | 164M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 9.31 | 10.03 | 8.75 | 8.06 | 0.00 |
| Interest Coverage | 4.9 | 3.9 | 1.2 | 1.4 | 1.4 |
| Equity | 208M | 213M | 230M | 247M | 260M |
| Total Assets | 2.1B | 2.3B | 2.2B | 2.2B | 15M |
| Total Liabilities | 1.9B | 2.1B | 2.0B | 2.0B | 447M |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 118M | 147M | 146M | 160M | 160M |
| 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 | 1.83 | 2.25 | 0.36 | 1.20 | 1.40 |
| Owner EPS | 2.23 | 2.27 | 1.18 | 1.14 | 1.43 |
| Book Value | 14.98 | 15.06 | 16.05 | 17.29 | 18.32 |
| Cash Flow/Share | 2.33 | 2.35 | 1.26 | 1.21 | 1.45 |
| Dividends/Share | N/A | 0.20 | 0.22 | 0.25 | 0.00 |
| Shares Out. | 13.9M | 14.1M | 14.3M | 14.3M | 14.2M |
| Valuation | |||||
| P/E Ratio | 10.3 | 11.9 | 65.3 | 16.5 | 14.9 |
| P/FCF | 8.2 | 11.4 | 19.4 | 16.8 | 14.5 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 1.3 | 1.8 | 1.5 | 1.1 | 1.1 |
| Price/Sales | 3.5 | 4.7 | 8.1 | 5.0 | 4.9 |
| FCF Yield | 12.2% | 8.8% | 5.2% | 6.0% | 6.9% |
| Market Cap | 262M | 377M | 337M | 282M | 295M |
| Avg. Price | 16.81 | 23.73 | 20.02 | 18.70 | 20.84 |
| Year-End Price | 18.84 | 26.68 | 23.51 | 19.75 | 20.84 |
John Marshall Bancorp, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
John Marshall Bancorp, Inc. trades at 14.9x trailing earnings, compared to its 15-year median P/E of 14.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 14.5x vs a median of 14.1x. The company's 5-year average ROIC is 33.3%. Total shareholder yield (dividends) is 1.2%. At current prices, the estimated annualized return to fair value is -9.9%.
John Marshall Bancorp, Inc. (JMSB) has a current P/E ratio of 14.9, compared to its historical median P/E of 14.2. The stock is currently considered Fair based on its historical valuation range.
John Marshall Bancorp, Inc. (JMSB) has a 5-year average return on invested capital (ROIC) of 33.3%. This indicates strong capital allocation and a potential competitive advantage.
John Marshall Bancorp, Inc. (JMSB) has a market capitalization of $295M. It is classified as a small-cap stock.
Yes, John Marshall Bancorp, Inc. (JMSB) pays a dividend with a trailing twelve-month yield of 1.20%. The company also returns capital through share buybacks, with a buyback yield of 0.02%.
Based on historical P/E analysis, John Marshall Bancorp, Inc. (JMSB) appears fair. The current P/E of 14.9 is 5% above its historical median of 14.2. The estimated fair value CAGR (P/E method) is -13.8%.
John Marshall Bancorp, Inc. (JMSB) operates in the State Commercial Banks industry, within the Financials sector.
John Marshall Bancorp, Inc. (JMSB) reported annual revenue of $53 million in its most recent fiscal year, based on SEC EDGAR filings.
John Marshall Bancorp, Inc. (JMSB) has a net profit margin of 32.1%. This is a strong margin indicating high profitability.
John Marshall Bancorp, Inc. (JMSB) generated $17 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
John Marshall Bancorp, Inc. (JMSB) has a debt-to-equity ratio of 8.06. This indicates higher leverage, which may increase financial risk.
John Marshall Bancorp, Inc. (JMSB) reported earnings per share (EPS) of $1.20 in its most recent fiscal year.
John Marshall Bancorp, Inc. (JMSB) has a return on equity (ROE) of 7.2%. This indicates moderate shareholder returns.
The Ledger Terminal provides 4 years of financial data for John Marshall Bancorp, Inc. (JMSB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
John Marshall Bancorp, Inc. (JMSB) has a book value per share of $17.29, based on its most recent annual SEC filing.