A Business at a Glance
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Forward Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect” or words of similar meaning, or future or conditional verbs, such as “will,” “would,” “should,” “could,” or “may.” A forward-looking statement is neither a prediction nor a guarantee of future events. Certain forward-looking statements are included in this Form 10-K, principally in the sections captioned “Business,” “Risk Factors,” and “Management's Discussion and Analysis of Financial Condition and Results of Operations.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 132M | 83M | 80M | 56M | 58M | 64M |
| Net Income | 25M | 15M | 22M | 10M | 1.1M | 5.2M |
| EPS | $1.03 | $0.61 | $0.87 | $0.41 | $0.04 | $0.21 |
| Free Cash Flow | 25M | 23M | 26M | 49M | 32M | 322K |
| ROIC | 8.1% | 11.5% | 9.9% | 4.7% | 0.1% | 4.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 5.39 | 5.96 | 7.10 | 6.55 | 5.82 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 544K | 41M | 33M | 15M | 536K | 11M |
| Operating Margin | 0.4% | 49.7% | 41.8% | 26.2% | 0.9% | 16.6% |
| ROE | 8.1% | 5.4% | 8.2% | 4.2% | 0.5% | 2.3% |
| Shares Outstanding | 25M | 25M | 25M | 25M | 27M | 25M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 56M | 64M | 64M | 58M | 56M | 80M | 83M | 132M |
| Gross Margin | N/A | N/A | 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 | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 21M | 13M | 11M | 536K | 15M | 33M | 41M | 544K |
| Op. Margin | 37.4% | 19.5% | 16.6% | 0.9% | 26.2% | 41.8% | 49.7% | 0.4% |
| Net Income | 11M | 7.3M | 5.2M | 1.1M | 10M | 22M | 15M | 25M |
| Net Margin | 20.5% | 11.4% | 8.1% | 1.9% | 18.2% | 27.5% | 18.4% | 19.3% |
| Non-Recurring | 0 | 0 | -28K | 12K | 275K | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | 11.5% | 9.2% | 4.2% | 0.1% | 4.7% | 9.9% | 11.5% | 8.1% |
| ROE | 9.7% | 5.9% | 2.3% | 0.5% | 4.2% | 8.2% | 5.4% | 8.1% |
| ROA | 0.9% | 0.5% | 0.3% | 0.1% | 0.5% | 1.2% | 0.8% | 100.4% |
| Cash Flow | ||||||||
| Op. Cash Flow | 23M | 6.1M | 2.0M | 33M | 50M | 26M | 24M | 27M |
| Free Cash Flow | 15M | 3.8M | 322K | 32M | 49M | 26M | 23M | 25M |
| Owner Earnings | 20M | 3.3M | -1.9M | 29M | 47M | 24M | 21M | 25M |
| CapEx | 8.0M | 2.3M | 1.7M | 596K | 780K | 451K | 838K | 2.8M |
| Maint. CapEx | 2.6M | 2.8M | 2.9M | 2.9M | 2.7M | 2.7M | 2.6M | 2.6M |
| Growth CapEx | 5.4M | 0 | 0 | 0 | 0 | 0 | 0 | 222K |
| D&A | 2.6M | 2.8M | 2.9M | 2.9M | 2.7M | 2.7M | 2.6M | 2.6M |
| CapEx/OCF | N/A | 37.3% | 84.1% | 1.8% | 1.6% | 1.7% | 3.5% | 10.3% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 1.1M | 1.1M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.4% | 0.3% |
| Stock-Based Comp | N/A | N/A | 995K | 534K | 581K | N/A | 154K | 154K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 9.88 | 10.91 | 5.82 | 6.55 | 7.10 | 5.96 | 5.39 | 0.00 |
| Interest Coverage | 6.6 | 2.8 | 2.3 | 0.3 | 10.1 | 6.1 | 1.9 | 1.9 |
| Equity | 118M | 123M | 224M | 238M | 243M | 267M | 297M | 314M |
| Total Assets | 1.3B | 1.5B | 1.5B | 1.8B | 2.0B | 1.9B | 1.9B | 25M |
| Total Liabilities | 1.2B | 1.3B | 1.3B | 1.6B | 1.7B | 1.6B | 1.6B | 570M |
| Intangibles | 7.3M | 7.3M | 7.3M | 7.3M | 8.8M | 8.8M | 11M | 11M |
| Retained Earnings | 116M | 134M | 140M | 141M | 151M | 173M | 188M | 188M |
| Working Capital | N/A | N/A | 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 | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | ||||||||
| EPS | 0.44 | 0.28 | 0.21 | 0.04 | 0.41 | 0.87 | 0.61 | 1.03 |
| Owner EPS | 0.78 | 0.13 | -0.08 | 1.09 | 1.86 | 0.93 | 0.84 | 0.98 |
| Book Value | 4.54 | 4.74 | 9.05 | 8.83 | 9.68 | 10.57 | 11.85 | 12.53 |
| Cash Flow/Share | 0.89 | 0.24 | 0.08 | 1.21 | 1.99 | 1.04 | 0.95 | 1.12 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 26.0M | 26.0M | 24.8M | 26.9M | 25.1M | 25.2M | 25.0M | 25.1M |
| Valuation | ||||||||
| P/E Ratio | N/A | 53.9 | 49.0 | 278.7 | 28.0 | 12.3 | 18.7 | 14.1 |
| P/FCF | N/A | 102.5 | 790.2 | 9.4 | 5.8 | 10.5 | 12.4 | 14.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 671.7 |
| Price/Book | N/A | 3.2 | 1.1 | 1.3 | 1.2 | 1.0 | 1.0 | 1.2 |
| Price/Sales | N/A | 5.6 | 4.0 | 5.6 | 4.6 | 3.0 | 3.1 | 2.8 |
| FCF Yield | N/A | 1.0% | 0.1% | 10.7% | 17.1% | 9.6% | 8.1% | 6.7% |
| Market Cap | N/A | 394M | 254M | 300M | 287M | 270M | 285M | 365M |
| Avg. Price | N/A | 13.72 | 10.43 | 11.92 | 10.41 | 9.44 | 10.33 | 14.57 |
| Year-End Price | N/A | 15.17 | 10.28 | 11.15 | 11.46 | 10.71 | 11.40 | 14.57 |
Pioneer Bancorp, Inc./MD passes 4 of 9 quality checks, suggesting mixed fundamentals.
Pioneer Bancorp, Inc./MD trades at 14.1x trailing earnings, compared to its 15-year median P/E of 28.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 14.9x vs a median of 9.9x. The company's 5-year average ROIC is 6.1%. Total shareholder yield (buybacks) is 0.3%. At current prices, the estimated annualized return to fair value is +59.3%.
Pioneer Bancorp, Inc./MD (PBFS) has a current P/E ratio of 14.1, compared to its historical median P/E of 28.0. The stock is currently considered Fair based on its historical valuation range.
Pioneer Bancorp, Inc./MD (PBFS) has a 5-year average return on invested capital (ROIC) of 6.1%. This is below average and may indicate limited pricing power.
Pioneer Bancorp, Inc./MD (PBFS) has a market capitalization of $365M. It is classified as a small-cap stock.
Pioneer Bancorp, Inc./MD (PBFS) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.29%.
Based on historical P/E analysis, Pioneer Bancorp, Inc./MD (PBFS) appears fair. The current P/E of 14.1 is 49% below its historical median of 28.0. The estimated fair value CAGR (P/E method) is 30.7%.
Pioneer Bancorp, Inc./MD (PBFS) operates in the Savings Institutions, Not Federally Chartered industry, within the Financials sector.
Pioneer Bancorp, Inc./MD (PBFS) reported annual revenue of $83 million in its most recent fiscal year, based on SEC EDGAR filings.
Pioneer Bancorp, Inc./MD (PBFS) has a net profit margin of 18.4%. This is a healthy margin.
Pioneer Bancorp, Inc./MD (PBFS) generated $23 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Pioneer Bancorp, Inc./MD (PBFS) has a debt-to-equity ratio of 5.39. This indicates higher leverage, which may increase financial risk.
Pioneer Bancorp, Inc./MD (PBFS) reported earnings per share (EPS) of $0.61 in its most recent fiscal year.
Pioneer Bancorp, Inc./MD (PBFS) has a return on equity (ROE) of 5.4%. This indicates moderate shareholder returns.
The Ledger Terminal provides 7 years of financial data for Pioneer Bancorp, Inc./MD (PBFS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Pioneer Bancorp, Inc./MD (PBFS) has a book value per share of $11.85, based on its most recent annual SEC filing.
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