A Business at a Glance
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PCB Bancorp is a California corporation incorporated in 2007 as a registered bank holding company subject to the Bank Holding Company Act of 1956, as amended (“BHCA”), to serve as the holding company for PCB Bank (the “Bank”), which was founded in 2003. The Company has no material operations other than those of the Bank. The Bank is a California state-chartered commercial bank. The Bank’s deposit accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the maximum amount currently allowable under federal law.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 113M | 100M | 99M | 104M | 96M | 78M |
| Net Income | 35M | 26M | 31M | 35M | 40M | 16M |
| EPS | $2.41 | $1.74 | $2.12 | $2.31 | $2.62 | $1.04 |
| Free Cash Flow | 26M | 35M | 62M | 52M | -2.0M | 15M |
| ROIC | 9.2% | 7.1% | 8.8% | 23.1% | 81.4% | 6.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.04 | 0.00 | 6.21 | 7.39 | 7.22 |
| Dividends/Share | $0.78 | $0.72 | $0.69 | $0.60 | $0.44 | $0.40 |
| Operating Income | 1.6M | 1.5M | 1.6M | - | - | 1.2M |
| Operating Margin | 1.4% | 1.5% | 1.6% | - | - | 1.6% |
| ROE | 9.2% | 7.2% | 8.8% | 10.4% | 15.6% | 6.9% |
| Shares Outstanding | 14M | 15M | 14M | 15M | 15M | 16M |
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 69M | 76M | 81M | 78M | 96M | 104M | 99M | 100M | 113M |
| Gross Margin | N/A | 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 | N/A |
| SG&A | 36M | 40M | 42M | 42M | 43M | 51M | 56M | 60M | 58M |
| EBIT | 1.1M | 1.2M | 1.2M | 1.2M | N/A | N/A | 1.6M | 1.5M | 1.6M |
| Op. Margin | 1.6% | 1.6% | 1.5% | 1.6% | N/A | N/A | 1.6% | 1.5% | 1.4% |
| Net Income | 16M | 24M | 24M | 16M | 40M | 35M | 31M | 26M | 35M |
| Net Margin | 23.8% | 31.9% | 29.8% | 20.8% | 42.0% | 33.6% | 31.0% | 25.9% | 31.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | 11.5% | 11.6% | 10.6% | 6.9% | 81.4% | 23.1% | 8.8% | 7.1% | 9.2% |
| ROE | 11.5% | 11.6% | 10.6% | 6.9% | 15.6% | 10.4% | 8.8% | 7.2% | 9.2% |
| ROA | 1.1% | 1.4% | 1.4% | 0.8% | 1.9% | 1.4% | 1.1% | 0.9% | 1.0% |
| Cash Flow | |||||||||
| Op. Cash Flow | 25M | 31M | 30M | 17M | -1.6M | 57M | 63M | 39M | 28M |
| Free Cash Flow | 23M | 30M | 29M | 15M | -2.0M | 52M | 62M | 35M | 26M |
| Owner Earnings | 23M | 29M | 28M | 15M | -3.4M | 55M | 61M | 36M | 25M |
| CapEx | 1.3M | 1.1M | 710K | 1.8M | 430K | 5.5M | 1.3M | 4.1M | 2.1M |
| Maint. CapEx | 1.1M | 1.3M | 1.5M | 1.5M | 1.4M | 1.6M | 2.2M | 2.3M | 2.3M |
| Growth CapEx | 161K | 0 | 0 | 297K | 0 | 3.9M | 0 | 1.8M | 0 |
| D&A | 1.1M | 1.3M | 1.5M | 1.5M | 1.4M | 1.6M | 2.2M | 2.3M | 2.3M |
| CapEx/OCF | N/A | 3.7% | 2.4% | 10.4% | N/A | 9.5% | 2.1% | 10.5% | 7.6% |
| Capital Allocation | |||||||||
| Dividends Paid | 1.6M | 1.8M | 4.0M | 6.2M | 6.7M | 8.9M | 9.9M | 10M | 11M |
| Dividend Yield | N/A | 0.9% | 1.8% | 4.5% | 3.0% | 3.3% | 4.8% | 4.2% | 3.2% |
| Share Buybacks | 0 | 0 | 6.5M | 6.5M | 11M | 6.7M | 8.8M | 222K | 5.0M |
| Buyback Yield | N/A | N/A | 2.9% | 4.9% | 3.8% | 2.9% | 3.6% | 0.1% | 1.4% |
| Stock-Based Comp | 699K | 648K | 709K | 715K | 453K | 539K | 488K | 504K | 815K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 20M | 20M | 15M | 30M |
| Balance Sheet | |||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | -269M | -211M | -394M |
| Cash & Equiv. | 74M | 162M | 146M | 194M | 203M | 147M | 242M | 199M | 394M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 9.14 | 7.07 | 6.70 | 7.22 | 7.39 | 6.21 | 0.00 | 0.04 | 0.00 |
| Interest Coverage | 0.1 | 0.1 | 0.1 | 0.1 | 14.1 | 5.1 | 0.0 | 0.0 | 0.0 |
| Equity | 142M | 210M | 227M | 234M | 256M | 335M | 349M | 364M | 385M |
| Total Assets | 1.4B | 1.7B | 1.7B | 1.9B | 2.1B | 2.4B | 2.8B | 3.1B | 3.4B |
| Total Liabilities | 1.3B | 1.5B | 1.5B | 1.7B | 1.9B | 2.1B | 2.4B | 2.7B | 3.0B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 15M | 38M | 58M | 68M | 101M | 127M | 146M | 161M | 180M |
| Working Capital | N/A | 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 | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||
| EPS | 1.21 | 1.65 | 1.49 | 1.04 | 2.62 | 2.31 | 2.12 | 1.74 | 2.41 |
| Owner EPS | 1.69 | 1.95 | 1.72 | 0.96 | -0.23 | 3.64 | 4.19 | 2.44 | 1.74 |
| Book Value | 10.49 | 14.28 | 14.02 | 15.03 | 16.74 | 22.15 | 24.09 | 24.53 | 26.96 |
| Cash Flow/Share | 1.82 | 2.08 | 1.86 | 1.10 | -0.11 | 3.78 | 4.37 | 2.63 | 2.63 |
| Dividends/Share | 0.12 | 0.12 | 0.25 | 0.40 | 0.44 | 0.60 | 0.69 | 0.72 | 0.78 |
| Shares Out. | 13.6M | 14.7M | 16.2M | 15.6M | 15.3M | 15.1M | 14.5M | 14.8M | 14.3M |
| Valuation | |||||||||
| P/E Ratio | N/A | 7.3 | 9.2 | 8.2 | 7.2 | 6.8 | 8.1 | 11.1 | 10.0 |
| P/FCF | N/A | 6.0 | 7.5 | 8.7 | N/A | 4.6 | 4.0 | 8.2 | 13.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 69.3 | -30.4 |
| Price/Book | N/A | 0.8 | 1.0 | 0.6 | 1.1 | 0.7 | 0.7 | 0.8 | 0.9 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | 2.1 | 2.5 | 3.1 |
| FCF Yield | N/A | 16.8% | 13.3% | 11.5% | -0.7% | 21.9% | 25.0% | 12.2% | 7.5% |
| Market Cap | N/A | 176M | 222M | 133M | 288M | 236M | 248M | 286M | 345M |
| Avg. Price | N/A | 14.00 | 13.40 | 8.72 | 14.66 | 17.66 | 14.34 | 16.49 | 24.20 |
| Year-End Price | N/A | 11.97 | 13.70 | 8.56 | 18.85 | 15.59 | 17.11 | 19.31 | 24.20 |
PCB BANCORP passes 4 of 9 quality checks, suggesting mixed fundamentals.
PCB BANCORP trades at 10.0x trailing earnings, compared to its 15-year median P/E of 8.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 13.4x vs a median of 6.8x. The company's 5-year average ROIC is 25.5%. Total shareholder yield (dividends + buybacks) is 4.7%. At current prices, the estimated annualized return to fair value is +10.6%.
PCB BANCORP (PCB) has a current P/E ratio of 10.0, compared to its historical median P/E of 8.1. The stock is currently considered Expensive based on its historical valuation range.
PCB BANCORP (PCB) has a 5-year average return on invested capital (ROIC) of 25.5%. This indicates strong capital allocation and a potential competitive advantage.
PCB BANCORP (PCB) has a market capitalization of $345M. It is classified as a small-cap stock.
Yes, PCB BANCORP (PCB) pays a dividend with a trailing twelve-month yield of 3.24%. The company also returns capital through share buybacks, with a buyback yield of 1.44%.
Based on historical P/E analysis, PCB BANCORP (PCB) appears expensive. The current P/E of 10.0 is 24% above its historical median of 8.1. The estimated fair value CAGR (P/E method) is 7.7%.
PCB BANCORP (PCB) operates in the State Commercial Banks industry, within the Financials sector.
PCB BANCORP (PCB) reported annual revenue of $100 million in its most recent fiscal year, based on SEC EDGAR filings.
PCB BANCORP (PCB) has a net profit margin of 25.9%. This is a strong margin indicating high profitability.
PCB BANCORP (PCB) generated $35 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PCB BANCORP (PCB) has a debt-to-equity ratio of 0.04. This indicates a conservatively financed balance sheet.
PCB BANCORP (PCB) reported earnings per share (EPS) of $1.74 in its most recent fiscal year.
PCB BANCORP (PCB) has a return on equity (ROE) of 7.2%. This indicates moderate shareholder returns.
The Ledger Terminal provides 8 years of financial data for PCB BANCORP (PCB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PCB BANCORP (PCB) has a book value per share of $24.53, based on its most recent annual SEC filing.