A Business at a Glance
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OP Bancorp
OPBK
$233M
Mkt Cap
$15.66
+5.88%
OP Bancorp (OPBK) has a current P/E ratio of 9.9, compared to its historical median P/E of 7.4. The stock is currently considered Expensive based on its historical valuation range.
OP Bancorp (OPBK) has a 5-year average return on invested capital (ROIC) of 14.4%. This indicates solid capital allocation.
OP Bancorp (OPBK) has a market capitalization of $233M. It is classified as a small-cap stock.
Yes, OP Bancorp (OPBK) pays a dividend with a trailing twelve-month yield of 3.06%. The company also returns capital through share buybacks, with a buyback yield of 0.30%.
Based on historical P/E analysis, OP Bancorp (OPBK) appears expensive. The current P/E of 9.9 is 34% above its historical median of 7.4. The estimated fair value CAGR (P/E method) is 10.0%.
OP Bancorp (OPBK) operates in the State Commercial Banks industry, within the Financials sector.
OP Bancorp (OPBK) reported annual revenue of $167 million in its most recent fiscal year, based on SEC EDGAR filings.
Unless we state otherwise or the context otherwise requires, references in this Annual Report on Form 10-K (this "Report") to “we”, “our”, “us,” “ourselves,” “the company” and “the Company” refer to OP Bancorp, a California corporation, and its consolidated wholly-owned subsidiary, Open Bank, a California corporation, which is referred to as “Open Bank” or “the Bank”. Our Company We began operations in 2005 as a California chartered banking association under the name First Standard Bank. In 2010, we rebranded the bank as “Open Bank” and in 2016, we incorporated OP Bancorp in California as a bank holding company with Open Bank as our sole subsidiary. We are headquartered in Los Angeles, California, and our common stock is quoted on The Nasdaq Global Market under the ticker symbol, "OPBK." Our commercial banking activities are operated through Open Bank, our wholly owned banking subsidiary.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 167M | 167M | 154M | 136M | 106M | 80M |
| Net Income | 26M | 26M | 21M | 23M | 33M | 29M |
| EPS | $1.72 | $1.72 | $1.39 | $1.55 | $2.14 | $1.88 |
| Free Cash Flow | 23M | 23M | 30M | 66M | 82M | -29M |
| ROIC | 11.6% | 11.2% | 10.4% | 12.7% | 19.1% | 18.5% |
| Gross Margin | 0.0% | 0.0% | - | - | - | - |
| Debt/Equity | 0.70 | 0.70 | 0.49 | 0.35 | 0.38 | 0.41 |
| Dividends/Share | $0.48 | $0.48 | $0.48 | $0.48 | $0.44 | $0.34 |
| Operating Income | 35M | 35M | 29M | 33M | 47M | 41M |
| Operating Margin | 21.2% | 21.2% | 18.9% | 24.7% | 44.1% | 50.7% |
| ROE | 11.2% | 11.8% | 10.4% | 12.7% | 19.1% | 18.5% |
| Shares Outstanding | 15M | 15M | 15M | 15M | 15M | 15M |
| Metric | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 41M | 49M | 59M | 70M | 64M | 80M | 106M | 136M | 154M | 167M | 167M |
| Gross Margin | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 15M | 16M | 18M | 20M | 20M | 21M | 27M | 30M | 32M | 36M | 36M |
| EBIT | 12M | 17M | 19M | 22M | 18M | 41M | 47M | 33M | 29M | 35M | 35M |
| Op. Margin | 30.3% | 34.8% | 32.8% | 31.4% | 28.3% | 50.7% | 44.1% | 24.7% | 18.9% | 21.2% | 21.2% |
| Net Income | 7.0M | 8.9M | 14M | 16M | 13M | 29M | 33M | 23M | 21M | 26M | 26M |
| Net Margin | 17.3% | 18.0% | 23.3% | 23.3% | 20.1% | 35.6% | 30.8% | 17.3% | 13.4% | 15.4% | 15.4% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||
| ROIC | 18.6% | 10.3% | 12.5% | 12.1% | 9.1% | 18.5% | 19.1% | 12.7% | 10.4% | 11.2% | 11.6% |
| ROE | 18.6% | 10.3% | 12.5% | 12.1% | 9.1% | 18.5% | 19.1% | 12.7% | 10.4% | 11.8% | 11.2% |
| ROA | 114.0% | 2.0% | 1.4% | 1.5% | 1.0% | 1.8% | 1.7% | 1.1% | 0.9% | 1.0% | 1.0% |
| Cash Flow | |||||||||||
| Op. Cash Flow | 11M | -2.1M | 31M | 19M | -4.9M | -28M | 84M | 68M | 31M | 26M | 26M |
| Free Cash Flow | 10M | -2.6M | 29M | 17M | -5.5M | -29M | 82M | 66M | 30M | 23M | 23M |
| Owner Earnings | 8.3M | -3.8M | 29M | 16M | -7.3M | -30M | 81M | 54M | 17M | 11M | 11M |
| CapEx | 259K | 421K | 1.2M | 1.7M | 619K | 1.1M | 1.4M | 2.2M | 1.6M | 2.8M | 2.8M |
| Maint. CapEx | 1.1M | 1.0M | 1.0M | 1.1M | 1.3M | 1.3M | 1.4M | 12M | 13M | 15M | 15M |
| Growth CapEx | 0 | 0 | 152K | 593K | 0 | 0 | 45K | 0 | 0 | 0 | 0 |
| D&A | 1.1M | 1.0M | 1.0M | 1.1M | 1.3M | 1.3M | 1.4M | 12M | 13M | 15M | 15M |
| CapEx/OCF | N/A | N/A | 3.9% | 9.3% | N/A | N/A | 1.7% | 3.2% | 5.0% | N/A | 10.7% |
| Capital Allocation | |||||||||||
| Dividends Paid | 0 | 0 | 0 | 3.2M | 4.3M | 5.1M | 6.7M | 7.3M | 7.1M | 7.1M | 7.1M |
| Dividend Yield | N/A | N/A | N/A | 2.7% | 4.8% | 3.9% | 4.2% | 5.7% | 4.3% | N/A | 3.1% |
| Share Buybacks | 0 | 0 | 0 | 5.4M | 8.1M | 28K | 0 | 3.9M | 2.7M | 706K | 706K |
| Buyback Yield | 0.0% | N/A | N/A | 4.2% | 8.5% | 0.0% | N/A | 2.5% | 1.2% | 0.0% | 0.3% |
| Stock-Based Comp | 1.2M | 668K | 969K | 1.5M | 1.1M | 558K | 1.2M | 1.3M | 1.2M | 699K | 699K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||
| Net Debt | N/A | N/A | 198M | 234M | 291M | -199M | -226M | -218M | -221M | -7.9M | -7.7M |
| Cash & Equiv. | 20M | 63M | 78M | 86M | 106M | 115M | 83M | 91M | 135M | 167M | 167M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 | 25M | 25M |
| Debt/Equity | 0.99 | 8.85 | 2.55 | 2.68 | 3.41 | 0.41 | 0.38 | 0.35 | 0.49 | 0.70 | 0.70 |
| Interest Coverage | 0.0 | 4.7 | 3.1 | 2.5 | 3.2 | 14.0 | 5.1 | 1.7 | 1.4 | 0.0 | 0.5 |
| Equity | 3.1M | 91M | 130M | 141M | 143M | 165M | 177M | 193M | 205M | 228M | 228M |
| Total Assets | 6.2M | 901M | 1.0B | 1.2B | 1.4B | 1.7B | 2.1B | 2.1B | 2.4B | 2.7B | 2.7B |
| Total Liabilities | 3.1M | 810M | 914M | 1.0B | 1.2B | 1.6B | 1.9B | 2.0B | 2.2B | 2.4B | 2.4B |
| Intangibles | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Retained Earnings | N/A | 19M | 33M | 46M | 55M | 79M | 106M | 121M | 135M | 153M | 153M |
| Working Capital | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Per Share Data | |||||||||||
| EPS | 0.53 | 0.66 | 0.89 | 1.03 | 0.85 | 1.88 | 2.14 | 1.55 | 1.39 | 1.72 | 1.72 |
| Owner EPS | 0.63 | -0.28 | 1.84 | 1.03 | -0.48 | -1.99 | 5.33 | 3.59 | 1.13 | 0.72 | 0.72 |
| Book Value | 0.23 | 6.81 | 8.35 | 8.84 | 9.42 | 10.90 | 11.61 | 12.74 | 13.77 | 15.29 | 15.29 |
| Cash Flow/Share | 0.80 | -0.16 | 1.97 | 1.19 | -0.32 | -1.86 | 5.50 | 4.48 | 2.10 | 1.76 | 2.71 |
| Dividends/Share | N/A | N/A | N/A | 0.20 | 0.28 | 0.34 | 0.44 | 0.48 | 0.48 | 0.48 | 0.48 |
| Shares Out. | 13.3M | 13.4M | 15.5M | 15.9M | 15.2M | 15.2M | 15.2M | 15.1M | 14.9M | 14.9M | 14.9M |
| Valuation | |||||||||||
| P/E Ratio | N/A | 11.3 | 7.5 | 7.7 | 7.3 | 5.8 | 4.5 | 6.5 | 10.7 | N/A | 9.1 |
| P/FCF | N/A | N/A | 3.5 | 7.4 | N/A | N/A | 1.8 | 2.3 | 7.5 | N/A | 10.0 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.4 |
| Price/Book | N/A | 1.1 | 0.8 | 0.9 | 0.7 | 1.0 | 0.8 | 0.8 | 1.1 | N/A | 1.0 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.4 |
| FCF Yield | N/A | -2.5% | 27.5% | 13.3% | -5.7% | -17.6% | 55.0% | 42.0% | 13.2% | N/A | 10.0% |
| Market Cap | 0 | 104M | 107M | 130M | 96M | 167M | 150M | 156M | 226M | 0 | 233M |
| Avg. Price | 0.00 | 6.28 | 8.70 | 7.40 | 5.80 | 8.63 | 10.40 | 8.47 | 11.10 | 0.00 | 15.66 |
| Year-End Price | 0.00 | 7.43 | 6.68 | 7.98 | 6.20 | 10.89 | 9.61 | 10.11 | 14.88 | 0.00 | 15.66 |
OP Bancorp passes 4 of 9 quality checks, suggesting mixed fundamentals.
OP Bancorp trades at 9.9x trailing earnings, compared to its 15-year median P/E of 7.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 9.6x vs a median of 3.5x. The company's 5-year average ROIC is 14.4%. Total shareholder yield (dividends + buybacks) is 3.4%. At current prices, the estimated annualized return to fair value is +19.9%.
OP Bancorp (OPBK) has a net profit margin of 15.4%. This is a healthy margin.
OP Bancorp (OPBK) generated $23 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
OP Bancorp (OPBK) has a debt-to-equity ratio of 0.70. This indicates moderate leverage.
OP Bancorp (OPBK) reported earnings per share (EPS) of $1.72 in its most recent fiscal year.
OP Bancorp (OPBK) has a return on equity (ROE) of 11.8%. This indicates moderate shareholder returns.
The Ledger Terminal provides 10 years of financial data for OP Bancorp (OPBK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
OP Bancorp (OPBK) has a book value per share of $15.29, based on its most recent annual SEC filing.
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