A Business at a Glance
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Northeast Community Bancorp, Inc. (the “Company”) is a Maryland corporation that was incorporated in May 2021 to be the successor to NorthEast Community Bancorp, Inc., a federally chartered corporation (the “Mid-Tier Holding Company”), upon completion of the second-step conversion of NorthEast Community Bank (the “Bank”) from the two-tier mutual holding company structure to the stock holding company structure. NorthEast Community Bancorp, MHC was the former mutual holding company for the Mid-Tier Holding Company prior to the completion of the second-step conversion. In conjunction with the second-step conversion, each of NorthEast Community Bancorp, MHC and the Mid-Tier Holding Company merged out of existence and now cease to exist. The second-step conversion was completed on July 12, 2021, at which time the Company sold, for gross proceeds of $97.8 million, a total of 9,784,077 shares of common stock at $10.00 per share.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 104M | 106M | 101M | 66M | 46M | 42M |
| Net Income | 44M | 47M | 46M | 25M | 12M | 12M |
| EPS | $3.21 | $3.52 | $3.32 | $1.58 | $0.77 | $0.76 |
| Free Cash Flow | 49M | 48M | 42M | 24M | 15M | 14M |
| ROIC | 8.5% | 33.8% | 25.7% | 16.4% | 15.9% | 23.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.49 | 5.31 | 0.23 | 0.08 | 3.87 | 5.29 |
| Dividends/Share | $0.85 | $0.59 | $0.26 | $0.44 | $0.15 | $0.06 |
| Operating Income | 109K | 121M | 99M | 43M | 21M | 26M |
| Operating Margin | 0.1% | 115.0% | 98.0% | 64.9% | 45.3% | 61.6% |
| ROE | 12.7% | 15.8% | 16.6% | 9.5% | 4.7% | 8.0% |
| Shares Outstanding | 14M | 13M | 14M | 16M | 15M | 16M |
| Metric | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 42M | 46M | 66M | 101M | 106M | 104M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 26M | 21M | 43M | 99M | 121M | 109K |
| Op. Margin | 61.6% | 45.3% | 64.9% | 98.0% | 115.0% | 0.1% |
| Net Income | 12M | 12M | 25M | 46M | 47M | 44M |
| Net Margin | 29.7% | 26.1% | 37.9% | 45.8% | 44.6% | 42.2% |
| Non-Recurring | 37K | 7K | 549K | -138K | 22K | 22K |
| Returns on Capital | ||||||
| ROIC | 23.9% | 15.9% | 16.4% | 25.7% | 33.8% | 8.5% |
| ROE | 8.0% | 4.7% | 9.5% | 16.6% | 15.8% | 12.7% |
| ROA | 1.3% | 1.0% | 1.7% | 2.6% | 2.5% | 457.7% |
| Cash Flow | ||||||
| Op. Cash Flow | 16M | 22M | 28M | 43M | 49M | 51M |
| Free Cash Flow | 14M | 15M | 24M | 42M | 48M | 49M |
| Owner Earnings | 15M | 20M | 26M | 42M | 48M | 50M |
| CapEx | 1.3M | 6.5M | 3.3M | 626K | 517K | 1.7M |
| Maint. CapEx | 1.1M | 1.1M | 1.2M | 1.2M | 1.2M | 1.2M |
| Growth CapEx | 195K | 5.3M | 2.1M | 0 | 0 | 529K |
| D&A | 1.1M | 1.1M | 1.2M | 1.2M | 1.2M | 1.2M |
| CapEx/OCF | 8.1% | 29.9% | 12.0% | 1.5% | 1.1% | 3.4% |
| Capital Allocation | ||||||
| Dividends Paid | 1.0M | 2.3M | 6.9M | 3.7M | 7.9M | 12M |
| Dividend Yield | 1.0% | 1.5% | 4.0% | 1.9% | 3.1% | 3.4% |
| Share Buybacks | 0 | 0 | 9.3M | 29M | 3.2M | 3.2M |
| Buyback Yield | N/A | N/A | 4.3% | 12.4% | 1.0% | 0.9% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 50M | 50M |
| Balance Sheet | ||||||
| Net Debt | N/A | N/A | -74M | -4.7M | N/A | 106M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 64M |
| Long-Term Debt | N/A | N/A | 21M | 64M | N/A | 170M |
| Debt/Equity | 5.29 | 3.87 | 0.08 | 0.23 | 5.31 | 0.49 |
| Interest Coverage | 2.6 | 4.1 | 5.2 | 2.9 | 2.2 | 2.2 |
| Equity | 154M | 251M | 262M | 279M | 318M | 344M |
| Total Assets | 968M | 1.2B | 1.4B | 1.8B | 2.0B | 9.6M |
| Total Liabilities | 814M | 974M | 1.2B | 1.5B | 1.7B | 287M |
| Intangibles | 651K | 651K | 200K | N/A | N/A | N/A |
| Retained Earnings | 105M | 114M | 133M | 176M | 214M | 214M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | 8.9M | 14M | 15M | 14M | 15M | 15M |
| Per Share Data | ||||||
| EPS | 0.76 | 0.77 | 1.58 | 3.32 | 3.52 | 3.21 |
| Owner EPS | 0.90 | 1.32 | 1.67 | 2.99 | 3.55 | 3.54 |
| Book Value | 9.48 | 16.29 | 16.66 | 20.04 | 23.80 | 24.53 |
| Cash Flow/Share | 0.97 | 1.40 | 1.75 | 3.07 | 3.64 | 3.21 |
| Dividends/Share | 0.06 | 0.15 | 0.44 | 0.26 | 0.59 | 0.85 |
| Shares Out. | 16.2M | 15.4M | 15.7M | 13.9M | 13.4M | 14.0M |
| Valuation | ||||||
| P/E Ratio | 11.9 | 12.6 | 8.6 | 5.0 | 6.7 | 7.8 |
| P/FCF | 10.2 | 10.0 | 8.9 | 5.5 | 6.5 | 7.1 |
| EV/EBIT | N/A | N/A | 3.3 | 2.3 | N/A | N/A |
| Price/Book | 1.0 | 0.6 | 0.8 | 0.8 | 1.0 | 1.0 |
| Price/Sales | 2.5 | 3.3 | 2.7 | 1.9 | 2.4 | 3.4 |
| FCF Yield | 9.8% | 10.0% | 11.3% | 18.3% | 15.3% | 14.0% |
| Market Cap | 147M | 150M | 215M | 231M | 315M | 350M |
| Avg. Price | 6.34 | 9.73 | 11.05 | 13.85 | 19.23 | 24.96 |
| Year-End Price | 9.04 | 9.75 | 13.66 | 16.58 | 23.52 | 24.96 |
NorthEast Community Bancorp, Inc./MD/ passes 6 of 9 quality checks, suggesting mixed fundamentals.
NorthEast Community Bancorp, Inc./MD/ trades at 7.8x trailing earnings, compared to its 15-year median P/E of 8.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 7.1x vs a median of 8.9x. The company's 5-year average ROIC is 23.1%. Total shareholder yield (dividends + buybacks) is 4.3%. At current prices, the estimated annualized return to fair value is +29.4%.
NorthEast Community Bancorp, Inc./MD/ (NECB) has a current P/E ratio of 7.8, compared to its historical median P/E of 8.6. The stock is currently considered Fair based on its historical valuation range.
NorthEast Community Bancorp, Inc./MD/ (NECB) has a 5-year average return on invested capital (ROIC) of 23.1%. This indicates strong capital allocation and a potential competitive advantage.
NorthEast Community Bancorp, Inc./MD/ (NECB) has a market capitalization of $350M. It is classified as a small-cap stock.
Yes, NorthEast Community Bancorp, Inc./MD/ (NECB) pays a dividend with a trailing twelve-month yield of 3.40%. The company also returns capital through share buybacks, with a buyback yield of 0.91%.
Based on historical P/E analysis, NorthEast Community Bancorp, Inc./MD/ (NECB) appears fair. The current P/E of 7.8 is 10% below its historical median of 8.6. The estimated fair value CAGR (P/E method) is 33.4%.
NorthEast Community Bancorp, Inc./MD/ (NECB) operates in the Savings Institutions, Not Federally Chartered industry, within the Financials sector.
NorthEast Community Bancorp, Inc./MD/ (NECB) reported annual revenue of $106 million in its most recent fiscal year, based on SEC EDGAR filings.
NorthEast Community Bancorp, Inc./MD/ (NECB) has a net profit margin of 44.6%. This is a strong margin indicating high profitability.
NorthEast Community Bancorp, Inc./MD/ (NECB) generated $48 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NorthEast Community Bancorp, Inc./MD/ (NECB) has a debt-to-equity ratio of 5.31. This indicates higher leverage, which may increase financial risk.
NorthEast Community Bancorp, Inc./MD/ (NECB) reported earnings per share (EPS) of $3.52 in its most recent fiscal year.
NorthEast Community Bancorp, Inc./MD/ (NECB) has a return on equity (ROE) of 15.8%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 5 years of financial data for NorthEast Community Bancorp, Inc./MD/ (NECB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NorthEast Community Bancorp, Inc./MD/ (NECB) has a book value per share of $23.80, based on its most recent annual SEC filing.
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