A Business at a Glance
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The disclosures set forth in this item are qualified by Item 1A. Risk Factors and the section captioned “Cautionary Note Regarding Forward-Looking Statements” in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this report and other cautionary statements set forth elsewhere in this report. Richmond Mutual Bancorporation, Inc., a Maryland corporation, which is sometimes referred to in this document as “Richmond Mutual Bancorporation-Maryland,” was formed in February 2019 to serve as a new stock holding company for First Bank Richmond upon completion of the reorganization of First Bank Richmond from the mutual to stock holding company form of organization. The reorganization was completed on July 1, 2019. Prior to completion of the reorganization, First Bank Richmond was a wholly owned subsidiary of Richmond Mutual Bancorporation, Inc.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 47M | 43M | 42M | 47M | 44M | 40M |
| Net Income | 11M | 9.4M | 9.5M | 13M | 11M | 10M |
| EPS | $1.06 | $0.92 | $0.91 | $1.17 | $0.96 | $0.82 |
| Free Cash Flow | 19M | 14M | 11M | 18M | -10M | 15M |
| ROIC | 0.0% | 32.6% | 25.4% | 18.4% | 11.1% | 12.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 10.33 | 9.83 | 9.03 | 6.02 | 4.63 |
| Dividends/Share | $0.55 | $0.56 | $0.57 | $0.40 | $0.80 | $0.15 |
| Operating Income | 0 | 43M | 34M | 26M | 21M | 22M |
| Operating Margin | 0.0% | 98.0% | 80.0% | 55.8% | 48.7% | 54.3% |
| ROE | 7.6% | 7.0% | 7.0% | 9.8% | 6.2% | 5.2% |
| Shares Outstanding | 10M | 10M | 10M | 11M | 12M | 12M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 32M | 34M | 40M | 44M | 47M | 42M | 43M | 47M |
| 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 | 15M | -8.2M | 22M | 21M | 26M | 34M | 43M | 0 |
| Op. Margin | 46.3% | -24.0% | 54.3% | 48.7% | 55.8% | 80.0% | 98.0% | 0.0% |
| Net Income | 5.7M | -14M | 10M | 11M | 13M | 9.5M | 9.4M | 11M |
| Net Margin | 17.9% | -41.1% | 24.9% | 25.5% | 27.9% | 22.4% | 21.6% | 22.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | 16.9% | -7.5% | 12.2% | 11.1% | 18.4% | 25.4% | 32.6% | 0.0% |
| ROE | 6.6% | -7.5% | 5.2% | 6.2% | 9.8% | 7.0% | 7.0% | 7.6% |
| ROA | 0.7% | -1.4% | 0.9% | 0.9% | 1.0% | 0.6% | 0.6% | 54.8% |
| Cash Flow | ||||||||
| Op. Cash Flow | 8.5M | 10M | 17M | -9.6M | 18M | 12M | 15M | 20M |
| Free Cash Flow | 7.1M | 9.1M | 15M | -10M | 18M | 11M | 14M | 19M |
| Owner Earnings | 7.6M | 9.2M | 15M | -13M | 16M | 9.5M | 12M | 18M |
| CapEx | 1.3M | 960K | 1.9M | 579K | 385K | 619K | 460K | 1.3M |
| Maint. CapEx | 895K | 898K | 1.0M | 1.1M | 1.1M | 976K | 850K | 850K |
| Growth CapEx | 433K | 62K | 879K | 0 | 0 | 0 | 0 | 431K |
| D&A | 895K | 898K | 1.0M | 1.1M | 1.1M | 976K | 850K | 850K |
| CapEx/OCF | N/A | 9.5% | 11.3% | N/A | 2.1% | 5.1% | 3.1% | 6.4% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 1.8M | 9.3M | 4.4M | 5.9M | 5.7M | 5.8M |
| Dividend Yield | N/A | N/A | 1.6% | 6.5% | 3.1% | 5.7% | 4.9% | 3.9% |
| Share Buybacks | 0 | 0 | 9.1M | 12M | 9.9M | 6.3M | 5.0M | 5.0M |
| Buyback Yield | N/A | N/A | 6.8% | 7.5% | 7.9% | 5.6% | 3.8% | 3.4% |
| Stock-Based Comp | N/A | 0 | 811K | 1.8M | 1.5M | 1.6M | 1.5M | 1.5M |
| 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 | -34M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 34M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 8.90 | 4.25 | 4.63 | 6.02 | 9.03 | 9.83 | 10.33 | 0.00 |
| Interest Coverage | 1.9 | -0.7 | 2.3 | 2.8 | 2.5 | 1.5 | 1.3 | 1.3 |
| Equity | 86M | 188M | 193M | 180M | 132M | 135M | 133M | 140M |
| Total Assets | 850M | 986M | 1.1B | 1.3B | 1.3B | 1.5B | 1.5B | 19M |
| Total Liabilities | 764M | 798M | 891M | 1.1B | 1.2B | 1.3B | 1.4B | 111M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 | 0.42 | -1.27 | 0.82 | 0.96 | 1.17 | 0.91 | 0.92 | 1.06 |
| Owner EPS | 0.56 | 0.83 | 1.21 | -1.08 | 1.40 | 0.91 | 1.22 | 1.70 |
| Book Value | 6.35 | 16.93 | 15.77 | 15.55 | 11.95 | 12.94 | 13.04 | 13.40 |
| Cash Flow/Share | 0.63 | 0.91 | 1.36 | -0.83 | 1.64 | 1.16 | 1.45 | 1.10 |
| Dividends/Share | N/A | N/A | 0.15 | 0.80 | 0.40 | 0.57 | 0.56 | 0.55 |
| Shares Out. | 13.5M | 11.1M | 12.2M | 11.6M | 11.1M | 10.4M | 10.2M | 10.5M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | 13.4 | 14.2 | 9.7 | 11.8 | 14.3 | 13.5 |
| P/FCF | N/A | 15.2 | 9.1 | N/A | 7.1 | 9.8 | 9.4 | 7.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 0.7 | 0.7 | 0.9 | 0.9 | 0.8 | 1.0 | 1.1 |
| Price/Sales | N/A | 3.6 | 2.9 | 3.3 | 3.0 | 2.5 | 2.7 | 3.2 |
| FCF Yield | N/A | 6.6% | 10.9% | -6.5% | 14.2% | 10.2% | 10.7% | 12.6% |
| Market Cap | N/A | 139M | 134M | 158M | 126M | 112M | 134M | 149M |
| Avg. Price | N/A | 10.98 | 9.51 | 12.23 | 12.68 | 10.04 | 11.42 | 14.30 |
| Year-End Price | N/A | 12.50 | 10.99 | 13.64 | 11.33 | 10.78 | 13.13 | 14.30 |
Richmond Mutual Bancorporation, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
Richmond Mutual Bancorporation, Inc. trades at 13.5x trailing earnings, compared to its 15-year median P/E of 13.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 7.9x vs a median of 9.4x. The company's 5-year average ROIC is 19.9%. Total shareholder yield (dividends + buybacks) is 7.2%. At current prices, the estimated annualized return to fair value is +5.9%.
Richmond Mutual Bancorporation, Inc. (RMBI) has a current P/E ratio of 13.5, compared to its historical median P/E of 13.4. The stock is currently considered Fair based on its historical valuation range.
Richmond Mutual Bancorporation, Inc. (RMBI) has a 5-year average return on invested capital (ROIC) of 19.9%. This indicates strong capital allocation and a potential competitive advantage.
Richmond Mutual Bancorporation, Inc. (RMBI) has a market capitalization of $149M. It is classified as a small-cap stock.
Yes, Richmond Mutual Bancorporation, Inc. (RMBI) pays a dividend with a trailing twelve-month yield of 3.87%. The company also returns capital through share buybacks, with a buyback yield of 3.37%.
Based on historical P/E analysis, Richmond Mutual Bancorporation, Inc. (RMBI) appears fair. The current P/E of 13.5 is 1% above its historical median of 13.4. The estimated fair value CAGR (P/E method) is 14.0%.
Richmond Mutual Bancorporation, Inc. (RMBI) operates in the State Commercial Banks industry, within the Financials sector.
Richmond Mutual Bancorporation, Inc. (RMBI) reported annual revenue of $43 million in its most recent fiscal year, based on SEC EDGAR filings.
Richmond Mutual Bancorporation, Inc. (RMBI) has a net profit margin of 21.6%. This is a strong margin indicating high profitability.
Richmond Mutual Bancorporation, Inc. (RMBI) generated $14 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Richmond Mutual Bancorporation, Inc. (RMBI) has a debt-to-equity ratio of 10.33. This indicates higher leverage, which may increase financial risk.
Richmond Mutual Bancorporation, Inc. (RMBI) reported earnings per share (EPS) of $0.92 in its most recent fiscal year.
Richmond Mutual Bancorporation, Inc. (RMBI) has a return on equity (ROE) of 7.0%. This indicates moderate shareholder returns.
The Ledger Terminal provides 7 years of financial data for Richmond Mutual Bancorporation, Inc. (RMBI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Richmond Mutual Bancorporation, Inc. (RMBI) has a book value per share of $13.04, based on its most recent annual SEC filing.