A Business at a Glance
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PATRIOT NATIONAL BANCORP INC
PNBK
$84M
Mkt Cap
$1.12
-0.88%
PATRIOT NATIONAL BANCORP INC (PNBK) has a 5-year average return on invested capital (ROIC) of -8.2%. This is below average and may indicate limited pricing power.
PATRIOT NATIONAL BANCORP INC (PNBK) has a market capitalization of $84M. It is classified as a small-cap stock.
PATRIOT NATIONAL BANCORP INC (PNBK) does not currently pay a regular dividend.
PATRIOT NATIONAL BANCORP INC (PNBK) operates in the National Commercial Banks industry, within the Financials sector.
PATRIOT NATIONAL BANCORP INC (PNBK) reported annual revenue of $58 million in its most recent fiscal year, based on SEC EDGAR filings.
PATRIOT NATIONAL BANCORP INC (PNBK) has a net profit margin of -21.8%. The company is currently unprofitable.
PATRIOT NATIONAL BANCORP INC (PNBK) generated $-14 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Patriot National Bancorp, Inc. (the “Company” or “PNBK”), a Connecticut corporation, is a one-bank holding company for Patriot Bank, N.A, a national banking association headquartered in Stamford, Fairfield County, Connecticut (the “Bank”) (collectively, “Patriot”). The Bank received its charter and commenced operations as a national bank on August 31, 1994. The Bank has a total of eight branch offices comprised of seven branch offices located in Fairfield and New Haven Counties, Connecticut and one branch office located in Westchester County, New York as of December 31, 2024. On March 11, 2003, the Company formed Patriot National Statutory Trust I (the “Trust”) for the sole purpose of issuing trust preferred securities and investing the proceeds in subordinated debentures issued by the Company. The Company primarily invested the funds from the issuance of the debt in the Bank. The Bank used the proceeds to fund general operations.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 58M | 58M | 61M | 65M | 48M | 37M |
| Net Income | -13M | -13M | -40M | -4.2M | 6.2M | 5.1M |
| EPS | $-0.17 | $-0.17 | $-0.53 | $-0.06 | $0.08 | $0.07 |
| Free Cash Flow | -14M | -14M | 2.6M | -11M | 6.6M | 7.2M |
| ROIC | -0.9% | -17.1% | -28.2% | -2.0% | 3.4% | 2.7% |
| Gross Margin | 0.0% | 0.0% | - | - | - | - |
| Debt/Equity | 0.17 | 0.17 | 7.76 | 4.53 | 1.93 | 1.79 |
| Dividends/Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Operating Income | -13M | -13M | -16M | -5.6M | 7.8M | 5.0M |
| Operating Margin | -21.7% | -21.7% | -26.5% | -8.7% | 16.3% | 13.6% |
| ROE | -13.4% | -25.7% | -164.0% | -8.0% | 9.7% | 7.8% |
| Shares Outstanding | 75M | 75M | 76M | 76M | 76M | 75M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 22M | 25M | 27M | 34M | 42M | 46M | 40M | 37M | 48M | 65M | 61M | 58M | 58M |
| Gross Margin | N/A | N/A | 0.0% | N/A | 0.0% | 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 | N/A | N/A |
| SG&A | 8.1M | 9.2M | 9.5M | 11M | 12M | 14M | 14M | 11M | 16M | 18M | 18M | 22M | 22M |
| EBIT | 959K | 3.5M | 3.1M | 7.0M | 4.1M | -3.7M | -4.2M | 5.0M | 7.8M | -5.6M | -16M | -13M | -13M |
| Op. Margin | 4.3% | 13.8% | 11.6% | 20.5% | 9.7% | -8.1% | -10.4% | 13.6% | 16.3% | -8.7% | -26.5% | -21.7% | -21.7% |
| Net Income | 16M | 2.1M | 1.9M | 4.1M | 3.2M | -2.8M | -3.8M | 5.1M | 6.2M | -4.2M | -40M | -13M | -13M |
| Net Margin | 70.8% | 8.5% | 7.2% | 12.1% | 7.6% | -6.1% | -9.6% | 13.9% | 12.9% | -6.4% | -65.7% | -21.8% | -21.8% |
| Non-Recurring | 0 | -133K | 0 | 6K | 0 | 0 | 0 | 550K | 0 | 1.1M | 3K | 1K | 1K |
| Returns on Capital | |||||||||||||
| ROIC | 13.7% | 1.1% | 0.9% | 1.9% | 1.6% | -1.4% | -2.0% | 2.7% | 3.4% | -2.0% | -28.2% | -17.1% | -0.9% |
| ROE | 31.2% | 3.6% | 3.1% | 6.4% | 4.7% | -4.1% | -5.9% | 7.8% | 9.7% | -8.0% | -164.0% | -25.7% | -13.4% |
| ROA | 2.7% | 0.3% | 0.3% | 0.5% | 0.4% | -0.3% | -0.4% | 0.6% | 0.6% | -0.4% | -3.8% | -1.2% | -1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 22M | 5.7M | 4.5M | 7.3M | 5.3M | -12M | 6.3M | 7.6M | 7.0M | -11M | 2.7M | -14M | -14M |
| Free Cash Flow | 14M | -563K | 996K | 4.2M | 4.1M | -12M | 6.2M | 7.2M | 6.6M | -11M | 2.6M | -14M | -14M |
| Owner Earnings | 21M | 4.2M | 3.2M | 5.9M | 3.6M | -14M | 4.6M | 5.9M | 5.6M | -12M | 1.4M | -20M | -20M |
| CapEx | 8.4M | 6.2M | 3.5M | 3.1M | 1.1M | 552K | 70K | 430K | 414K | 412K | 55K | 172K | 172K |
| Maint. CapEx | 1.1M | 1.0M | 1.2M | 1.3M | 1.5M | 1.6M | 1.5M | 1.5M | 1.3M | 1.2M | 1.1M | 986K | 986K |
| Growth CapEx | 7.3M | 5.2M | 2.3M | 1.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 1.1M | 1.0M | 1.2M | 1.3M | 1.5M | 1.6M | 1.5M | 1.5M | 1.3M | 1.2M | 1.1M | 986K | 986K |
| CapEx/OCF | 37.3% | 105.8% | N/A | 42.0% | N/A | N/A | 1.1% | 5.7% | 5.9% | N/A | 2.0% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 77K | 154K | 155K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | 0.0% | N/A | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 1.0M | 2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 275K | 461K | 161K | 146K | 220K | 214K | 159K | 150K | 86K | 105K | 184K | 5.2M | 5.2M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 21M | 23M | 38M | 67M | 25M | 43M | 37M | -21M | -7.8M | 45M | -130M | -191M | -191M |
| Cash & Equiv. | 73M | 85M | 92M | 49M | 66M | 39M | 35M | 47M | 38M | 67M | 163M | 207M | 207M |
| Long-Term Debt | 128M | 142M | 159M | 141M | 131M | 131M | 121M | 121M | 115M | 201M | 33M | 16M | 16M |
| Debt/Equity | 2.18 | 2.31 | 2.55 | 2.12 | 1.89 | 1.95 | 1.91 | 1.79 | 1.93 | 4.53 | 7.76 | 0.17 | 0.17 |
| Interest Coverage | 1.3 | 2.3 | 0.0 | 2.0 | 0.0 | 0.8 | 0.7 | 1.7 | 1.7 | 0.7 | 0.4 | 0.0 | 0.0 |
| Equity | 59M | 61M | 63M | 67M | 69M | 67M | 63M | 67M | 60M | 44M | 4.3M | 95M | 95M |
| Total Assets | 633M | 653M | 757M | 852M | 952M | 980M | 881M | 948M | 1.0B | 1.1B | 1.0B | 1.1B | 1.1B |
| Total Liabilities | 574M | 592M | 694M | 785M | 882M | 913M | 818M | 881M | 984M | 1.0B | 1.0B | 993M | 993M |
| Intangibles | N/A | N/A | N/A | N/A | 698K | 623K | 343K | 296K | 249K | 203K | 156K | 109K | 109K |
| Retained Earnings | -47M | -45M | -43M | -39M | -36M | -39M | -43M | -37M | -31M | -47M | -87M | -100M | -100M |
| Working Capital | N/A | N/A | 0 | N/A | 0 | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | 0 | N/A | 0 | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | 2.6M | 2.8M | 0 | 3.7M | 0 | 8.7M | 7.3M | 11M | 7.3M | 6.5M | 6.9M | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 2.13 | 0.03 | 0.03 | 0.06 | 0.04 | -0.04 | -0.05 | 0.07 | 0.08 | -0.06 | -0.53 | -0.17 | -0.17 |
| Owner EPS | 2.87 | 0.06 | 0.04 | 0.08 | 0.05 | -0.18 | 0.06 | 0.08 | 0.07 | -0.16 | 0.02 | -0.27 | -0.27 |
| Book Value | 7.97 | 0.83 | 0.84 | 0.90 | 0.94 | 0.90 | 0.85 | 0.90 | 0.79 | 0.59 | 0.06 | 1.27 | 1.27 |
| Cash Flow/Share | 3.05 | 0.08 | 0.06 | 0.10 | 0.07 | -0.16 | 0.08 | 0.10 | 0.09 | -0.14 | 0.04 | -0.19 | -0.16 |
| Dividends/Share | N/A | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares Out. | 7.4M | 74.0M | 74.8M | 74.3M | 74.1M | 74.3M | 74.8M | 75.0M | 75.5M | 75.6M | 75.5M | 74.8M | 74.8M |
| Valuation | |||||||||||||
| P/E Ratio | 4.0 | 27.8 | N/A | 16.8 | N/A | N/A | N/A | 11.5 | 6.6 | N/A | N/A | N/A | -6.6 |
| P/FCF | 8.4 | N/A | N/A | 313.2 | N/A | N/A | 119.5 | 154.7 | 116.6 | N/A | 55.8 | N/A | N/A |
| EV/EBIT | N/A | -3.8 | N/A | 2.3 | N/A | 1.5 | 1.7 | 1.9 | 0.7 | 16.8 | -0.8 | N/A | N/A |
| Price/Book | 1.1 | 1.0 | N/A | 1.0 | N/A | 0.7 | 0.6 | 0.9 | 0.7 | 7.3 | 33.5 | N/A | 0.9 |
| Price/Sales | 3.0 | 2.8 | N/A | 2.3 | N/A | 2.0 | 1.2 | 1.4 | 1.4 | 17.5 | 6.9 | N/A | 1.4 |
| FCF Yield | 22.7% | -0.9% | N/A | 6.1% | N/A | -25.2% | 15.9% | 12.3% | 16.3% | -3.4% | 1.8% | N/A | -17.1% |
| Market Cap | 62M | 60M | 0 | 70M | 0 | 50M | 39M | 58M | 41M | 324M | 143M | 0 | 84M |
| Avg. Price | 14.79 | 16.10 | 0.00 | 16.00 | 0.00 | 14.20 | 7.89 | 10.24 | 13.27 | 8.20 | 2.65 | 0.00 | 1.12 |
| Year-End Price | 16.00 | 15.32 | 0.00 | 17.82 | 0.00 | 12.66 | 9.92 | 14.78 | 10.22 | 4.40 | 1.94 | 0.00 | 1.12 |
PATRIOT NATIONAL BANCORP INC passes 2 of 9 quality checks, indicating weak fundamentals.
At current prices, the estimated annualized return to fair value is -6.8%.
PATRIOT NATIONAL BANCORP INC (PNBK) has a debt-to-equity ratio of 0.17. This indicates a conservatively financed balance sheet.
PATRIOT NATIONAL BANCORP INC (PNBK) reported earnings per share (EPS) of $-0.17 in its most recent fiscal year.
PATRIOT NATIONAL BANCORP INC (PNBK) has a return on equity (ROE) of -25.7%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 17 years of financial data for PATRIOT NATIONAL BANCORP INC (PNBK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PATRIOT NATIONAL BANCORP INC (PNBK) has a book value per share of $1.27, based on its most recent annual SEC filing.