A Business at a Glance
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LANDMARK BANCORP INC
LARK
$193M
Mkt Cap
$31.54
+2.07%
LANDMARK BANCORP INC (LARK) has a current P/E ratio of 11.1, compared to its historical median P/E of 9.2. The stock is currently considered Fair based on its historical valuation range.
LANDMARK BANCORP INC (LARK) has a 5-year average return on invested capital (ROIC) of 10.9%. This indicates solid capital allocation.
LANDMARK BANCORP INC (LARK) has a market capitalization of $193.6B. It is classified as a large-cap stock.
Yes, LANDMARK BANCORP INC (LARK) pays a dividend with a trailing twelve-month yield of 0.00%.
Based on historical P/E analysis, LANDMARK BANCORP INC (LARK) appears fair. The current P/E of 11.1 is 20% above its historical median of 9.2. The estimated fair value CAGR (P/E method) is -1.4%.
LANDMARK BANCORP INC (LARK) operates in the National Commercial Banks industry, within the Financials sector.
LANDMARK BANCORP INC (LARK) reported annual revenue of $96 million in its most recent fiscal year, based on SEC EDGAR filings.
Landmark Bancorp, Inc. (the “Company”) is a financial holding company that was incorporated under the laws of the State of Delaware in 2001. Currently, the Company’s business consists of the ownership of Landmark National Bank (the “Bank”) and Landmark Risk Management, Inc. (the “Captive”), which are wholly-owned subsidiaries of the Company. As of December 31, 2024, the Company had approximately $1.6 billion in consolidated total assets. The Company is headquartered in Manhattan, Kansas, and has expanded its geographic presence through both opening of new branches and strategic acquisitions. In February 2024, the Bank opened a loan production office in Kansas City, Missouri. On October 1, 2022, the Company completed its acquisition of Freedom Bancshares, Inc. (“Freedom”), the holding company of Freedom Bank. The acquisition was accounted for as a business combination under ASC 805.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 73M | 96M | 89M | 78M | 57M | 62M |
| Net Income | 19M | 19M | 13M | 12M | 9.9M | 18M |
| EPS | $0.00 | $3.07 | $2.15 | $2.03 | $1.71 | $3.26 |
| Free Cash Flow | 20M | 21M | 12M | 12M | 24M | 30M |
| ROIC | 9.6% | 12.6% | 9.9% | 10.3% | 8.0% | 13.7% |
| Gross Margin | - | 0.0% | - | - | - | 0.0% |
| Debt/Equity | 0.24 | 9.00 | 10.56 | 11.30 | 0.08 | 8.80 |
| Dividends/Share | $0.00 | $0.80 | $0.76 | $0.73 | $0.73 | $0.69 |
| Operating Income | 640K | 23M | 904K | 865K | 891K | 23M |
| Operating Margin | 0.9% | 24.0% | 1.0% | 1.1% | 1.6% | 36.8% |
| ROE | 11.8% | 12.6% | 9.9% | 10.3% | 8.0% | 13.7% |
| Shares Outstanding | 6,139M | 6M | 6M | 6M | 6M | 6M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 43M | 46M | 44M | 45M | 49M | 53M | 67M | 62M | 57M | 78M | 89M | 96M | 73M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | N/A | N/A | N/A | 0.0% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 14M | 15M | 15M | 15M | 16M | 18M | 21M | 20M | 20M | 23M | 23M | 26M | 26M |
| EBIT | 11M | 14M | 11M | 733K | 2.2M | 595K | 24M | 23M | 891K | 865K | 904K | 23M | 640K |
| Op. Margin | 25.8% | 31.3% | 25.6% | 1.6% | 4.5% | 1.1% | 36.5% | 36.8% | 1.6% | 1.1% | 1.0% | 24.0% | 0.9% |
| Net Income | 8.0M | 11M | 9.0M | 4.4M | 10M | 11M | 19M | 18M | 9.9M | 12M | 13M | 19M | 19M |
| Net Margin | 18.8% | 22.8% | 20.3% | 9.7% | 21.4% | 20.1% | 29.3% | 29.0% | 17.4% | 15.7% | 14.7% | 19.6% | 26.2% |
| Non-Recurring | 99K | 244K | -89K | 17K | -58K | 52K | -29K | -5K | 114K | 1K | 326K | 81K | 81K |
| Returns on Capital | |||||||||||||
| ROIC | 10.5% | 11.1% | 8.8% | 4.6% | 11.6% | 10.6% | 16.6% | 13.7% | 8.0% | 10.3% | 9.9% | 12.6% | 9.6% |
| ROE | 12.0% | 13.8% | 10.8% | 5.1% | 11.6% | 10.6% | 16.6% | 13.7% | 8.0% | 10.3% | 9.9% | 12.6% | 11.8% |
| ROA | 1.0% | 1.2% | 1.0% | 0.5% | 1.1% | 1.1% | 1.8% | 1.4% | 0.7% | 0.8% | 0.8% | 1.2% | 1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 8.7M | 7.0M | 19M | 3.1M | 21M | 9.1M | 15M | 31M | 25M | 13M | 14M | 22M | 20M |
| Free Cash Flow | 7.2M | 5.8M | 18M | 1.6M | 20M | 8.1M | 14M | 30M | 24M | 12M | 12M | 21M | 20M |
| Owner Earnings | 7.5M | 5.9M | 18M | 596K | 19M | 6.6M | 12M | 28M | 22M | 9.1M | 11M | 19M | 3.5M |
| CapEx | 1.5M | 1.2M | 596K | 1.4M | 1.3M | 1.0M | 359K | 1.3M | 876K | 995K | 2.3M | 605K | 675K |
| Maint. CapEx | 1.1M | 1.2M | 1.1M | 2.3M | 2.1M | 2.2M | 2.6M | 2.6M | 2.6M | 3.1M | 2.5M | 2.2M | 17M |
| Growth CapEx | 335K | 61K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 1.1M | 1.2M | 1.1M | 2.3M | 2.1M | 2.2M | 2.6M | 2.6M | 2.6M | 3.1M | 2.5M | 2.2M | 17M |
| CapEx/OCF | 16.8% | 17.4% | 3.1% | 47.4% | 6.1% | 11.2% | 2.4% | N/A | 3.5% | 7.9% | 16.3% | N/A | 3.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 2.4M | 2.5M | 2.9M | 3.1M | 3.3M | 3.5M | 3.6M | 3.8M | 4.2M | 4.4M | 4.6M | 4.9M | 4.9M |
| Dividend Yield | 6.4% | 4.8% | 4.9% | 4.1% | 4.3% | 4.7% | 4.5% | N/A | 3.7% | 4.5% | 4.3% | N/A | 0.0% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 2.3M | 0 | 1.2M | 75K | 338K | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 2.5% | 0.0% | 1.2% | 0.1% | 0.3% | 0.0% | 0.0% |
| Stock-Based Comp | 55K | 16K | 59K | 172K | 223K | 286K | 304K | 323K | 295K | 352K | 520K | 359K | 340K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 13M | 8.1M | -1.4M | N/A | -406M | -376M | -377M | N/A | -503M | N/A | N/A | N/A | -336M |
| Cash & Equiv. | 13M | 14M | 20M | 17M | 19M | 14M | 85M | 189M | 23M | 27M | 20M | 21M | 374M |
| Long-Term Debt | 19M | 19M | 19M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 38M |
| Debt/Equity | 0.36 | 0.27 | 0.22 | 9.61 | 0.01 | 0.00 | 0.00 | 8.80 | 0.08 | 11.30 | 10.56 | 9.00 | 0.24 |
| Interest Coverage | 4.5 | 5.7 | 4.5 | 2.0 | 3.2 | 2.8 | 9.8 | 0.0 | 3.6 | 1.9 | 1.6 | 0.0 | 0.3 |
| Equity | 72M | 81M | 85M | 88M | 92M | 109M | 127M | 136M | 110M | 127M | 136M | 161M | 162M |
| Total Assets | 863M | 878M | 911M | 929M | 986M | 998M | 1.2B | 1.3B | 1.5B | 1.6B | 1.6B | 1.6B | 1.6B |
| Total Liabilities | 792M | 798M | 826M | 842M | 894M | 890M | 1.1B | 1.2B | 1.4B | 1.4B | 1.4B | 1.4B | 1.4B |
| Intangibles | 4.4M | 4.3M | 4.0M | 3.7M | 3.1M | 383K | 206K | 84K | 4.0M | 3.2M | 2.6M | 2.0M | 1.9M |
| Retained Earnings | 29M | 33M | 34M | 30M | 32M | 34M | 45M | 53M | 52M | 54M | 57M | 64M | 67M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | 11M | 12M | 12M | 9.7M | 13M | 13M | 17M | 0 | 23M | 19M | 21M | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 2.16 | 2.64 | 2.10 | 0.96 | 2.17 | 2.10 | 3.72 | 3.26 | 1.71 | 2.03 | 2.15 | 3.07 | 0.00 |
| Owner EPS | 2.01 | 1.47 | 4.17 | 0.13 | 3.93 | 1.30 | 2.27 | 5.11 | 3.79 | 1.52 | 1.85 | 3.11 | 0.00 |
| Book Value | 19.23 | 20.25 | 19.91 | 19.25 | 19.13 | 21.39 | 24.17 | 24.55 | 19.08 | 21.06 | 22.52 | 26.27 | 0.03 |
| Cash Flow/Share | 2.33 | 1.77 | 4.46 | 0.67 | 4.42 | 1.79 | 2.83 | 5.64 | 4.29 | 2.09 | 2.35 | 3.54 | 0.01 |
| Dividends/Share | 0.66 | 0.69 | 0.76 | 0.68 | 0.69 | 0.69 | 0.69 | 0.69 | 0.73 | 0.73 | 0.76 | 0.80 | 0.00 |
| Shares Out. | 3.7M | 4.0M | 4.3M | 4.6M | 4.8M | 5.1M | 5.2M | 5.5M | 5.8M | 6.0M | 6.0M | 6.1M | 6.1B |
| Valuation | |||||||||||||
| P/E Ratio | 6.5 | 6.7 | 9.6 | 20.8 | 7.5 | 8.9 | 4.8 | N/A | 10.7 | 8.1 | 10.4 | N/A | N/A |
| P/FCF | 5.7 | 9.4 | 3.6 | 46.7 | 3.4 | 10.6 | 5.9 | N/A | 4.2 | 8.5 | 11.3 | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 0.7 | 0.9 | 1.0 | 1.0 | 0.9 | 0.9 | 0.7 | N/A | 0.9 | 0.8 | 1.0 | N/A | N/A |
| Price/Sales | 1.2 | 1.6 | 1.9 | 2.2 | 2.1 | 1.8 | 1.4 | N/A | 2.3 | 1.7 | 1.8 | N/A | N/A |
| FCF Yield | 13.8% | 8.3% | 21.4% | 1.8% | 25.4% | 8.5% | 15.3% | N/A | 22.6% | 11.8% | 8.8% | N/A | 0.0% |
| Market Cap | 52M | 70M | 86M | 91M | 79M | 94M | 94M | 0 | 106M | 99M | 135M | 0 | 193.6B |
| Avg. Price | 10.13 | 13.34 | 14.05 | 16.65 | 16.19 | 14.85 | 15.55 | 0.00 | 19.67 | 16.18 | 17.61 | 0.00 | 31.54 |
| Year-End Price | 11.04 | 13.76 | 15.74 | 16.48 | 14.06 | 16.82 | 16.30 | 0.00 | 17.40 | 16.34 | 22.35 | 0.00 | 31.54 |
LANDMARK BANCORP INC passes 1 of 9 quality checks, indicating weak fundamentals.
LANDMARK BANCORP INC trades at 11.1x trailing earnings, compared to its 15-year median P/E of 9.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 10.6x vs a median of 7.2x. The company's 5-year average ROIC is 10.9%. At current prices, the estimated annualized return to fair value is +1.6%.
LANDMARK BANCORP INC (LARK) has a net profit margin of 19.6%. This is a healthy margin.
LANDMARK BANCORP INC (LARK) generated $21 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LANDMARK BANCORP INC (LARK) has a debt-to-equity ratio of 9.00. This indicates higher leverage, which may increase financial risk.
LANDMARK BANCORP INC (LARK) reported earnings per share (EPS) of $3.07 in its most recent fiscal year.
LANDMARK BANCORP INC (LARK) has a return on equity (ROE) of 12.6%. This indicates moderate shareholder returns.
The Ledger Terminal provides 17 years of financial data for LANDMARK BANCORP INC (LARK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LANDMARK BANCORP INC (LARK) has a book value per share of $26.27, based on its most recent annual SEC filing.