Quality
Return on equity
7.6% Computed
From the FY2025 filing
ValueScreener company report
CNB Financial Corporation (CCNE)
NASDAQ / Financial Services / Banks - Regional
Share price
33.88 USD Market dataClose of Oct 15, 2026Market capitalisation
1.00B USD Market dataClose of Oct 15, 2026- Market data
- Oct 15, 2026
- Filed accounts
- FY2025, filed Mar 11, 2026
- Ratios computed
- Oct 15, 2026
- Filed years
- 16, FY2009 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
- SEC filingFiled with the SEC
- Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
- Company statementCompany statement
- What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
- Market dataMarket data
- Prices, market value and what analysts publish, with the date they are as of.
- ComputedComputed by ValueScreener
- Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading
1 of 10
Overview
What the business is, what it costs, and how it reads on four questions.
Market dataSEC filingComputed
Four questions, at a glance
Financial strength
Debt to equity
n/m Computed
From the FY2025 filing
Why n/m
A bank's deposits are its raw material, not borrowings. Debt to equity computed over a deposit-funded balance sheet says nothing about solvency. Use the equity to assets ratio instead.
Valuation
Price to earnings
13.55x Computed
FY2025 accounts, priced at the latest close
Cash generation
Dividend yield
2.2% Computed
FY2025 accounts, priced at the latest close
Revenue and net income, as filed
- Named tests met
- 1 of 30 Which tests
The business, and the score behind its five axes
The reading, in brief
- Is it cheap
Price to earnings is 13.55x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 10.00x and 15.00x.
Today, against the Banks - Regional industry (277 companies), 13.55x sits at the 50th percentile; the middle half of that group runs from 11.79x to 16.19x.
- Is it good
Return on equity was 7.6% in FY2025, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.
Today, against the Banks - Regional industry (299 companies), 7.6% sits at the 32nd percentile; the middle half of that group runs from 6.5% to 11.6%.
- Year by year against peers
- Whether CNB Financial Corporation's return on equity stayed above the median of the Banks - Regional industry, year by year. (FY2021 to FY2025, 5 fiscal years of CNB Financial Corporation with a comparable figure)
- The direction
- Which way CNB Financial Corporation's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of CNB Financial Corporation)
- What could explain it
- What in CNB Financial Corporation's filed statements could explain the movements. (3 readings drawn from the statement lines CNB Financial Corporation filed)
- What to check next
- What to check next on CNB Financial Corporation, and where in its filings. (2 questions for CNB Financial Corporation)
- In one paragraph
- One paragraph on CNB Financial Corporation's returns, cash, balance sheet and price. (4 of sixteen figures read for CNB Financial Corporation)
These are CCNE’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.
Research CCNEPart of Serious. New accounts start with 30 days of Professional, free, no card.
2 of 10
What changed
The newest filing, what it moved, and when the next one is due.
SEC filingCompany statement
The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 11, 2026, accession 0000736772-26-000031.
3 of 10
Quality
The returns the business earns on its capital, and the margins behind them.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
Return on invested capital, after taxWhy n/mInvested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Return on equity | 7.6% ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Return on capital employed, pre-taxWhy n/mInvested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Return on assets | 0.8% ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Gross marginWhy n/mThis filer reports no gross profit line, so there is no gross margin to compute. Banks, insurers and REITs do not present cost of revenue. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Operating marginWhy n/aNo operating income line is filed for this year. | n/a ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Net margin | 16.9% ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
CCNE 16.9%
13.8%17.4%
4 of 10
Financial strength
What it owes against what it owns, and whether it can meet what falls due.
SEC filingComputedCompany statement
| Figure | Value, source and document |
|---|---|
Debt to equityWhy n/mA bank's deposits are its raw material, not borrowings. Debt to equity computed over a deposit-funded balance sheet says nothing about solvency. Use the equity to assets ratio instead. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Current ratioWhy n/mBanks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Quick ratioWhy n/mBanks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Interest coverageWhy n/mInterest is what a lender pays for its inventory of money, not a financing charge sitting below the operating line. Interest coverage is not defined for lenders. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Altman Z-scoreWhy n/mAltman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials. | n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Net debt | -217.2M ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
The balance sheet, line by line
Financial health
What CNB Financial Corporation owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 11, 2026, 0000736772-26-000031).
| Total assets | 8.40B FiledFY2025 10-K, filed Mar 11, 2026 |
|---|---|
| Total liabilities | 7.52B FiledFY2025 10-K, filed Mar 11, 2026 |
| Shareholders' equity | 872.1M FiledFY2025 10-K, filed Mar 11, 2026 |
| Cash | 527.9M FiledFY2025 10-K, filed Mar 11, 2026 |
| Total debt | 310.7M FiledFY2025 10-K, filed Mar 11, 2026 |
| Net debt | -217.2M |
| Current ratio | n/m |
| Debt to equity | n/m |
- Debt to equity: FY2025: A bank's deposits are its raw material, not borrowings. Debt to equity computed over a deposit-funded balance sheet says nothing about solvency. Use the equity to assets ratio instead.
- Current ratio: FY2025: Banks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show.
- Interest cover: FY2025: Interest is what a lender pays for its inventory of money, not a financing charge sitting below the operating line. Interest coverage is not defined for lenders.
Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.
5 of 10
Valuation context
What the market charges for it, against its own record and companies like it.
Market dataSEC filingComputed
| Figure | Value, source and document |
|---|---|
| Price to earnings | 13.55x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| P/E on trailing twelve months | 10.66x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings |
| Price to book | 0.96x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Price to sales | 2.13x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Enterprise value to EBITWhy n/mEnterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning. | n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Enterprise value to EBITDAWhy n/mEnterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning. | n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Price to earnings over growth | 2.78 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Diluted earnings per share | 2.49 USD FiledFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Graham number | 44.59 USD ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
We publish no fair value or price target of our own. Value CCNE on your own assumptions in the DCF workbench, starting from the filed figures.
Its own record, and companies like it
Valuation
What the market charges for CNB Financial Corporation today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.
| Share price | 33.88 USD |
|---|---|
| Market capitalisation | 1.00B USD |
| Enterprise value to EBITDA | n/m |
| Graham number | 44.59 USD |
| Diluted earnings per share, FY2025 | 2.49 USD |
Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 5.27x, median 10.85x, high 20.09x, latest 10.66x. 2,521 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.
Companies like CNB Financial Corporation
- Capitol Federal Financial, Inc. (CFFN)Market cap 1.02B USD
- Mid Penn Bancorp, Inc. (MPB)Market cap 911.3M USD
- NB Bancorp, Inc. Common Stock (NBBK)Market cap 913.3M USD
- Southside Bancshares, Inc. (SBSI)Market cap 909.1M USD
- Metropolitan Bank Holding Corp. (MCB)Market cap 1.08B USD
Same industry (Banks - Regional) and size band (Small, 300M to 2B), nearest in market value and net margin. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.
6 of 10
Cash generation
Whether profit arrives as cash, and what is paid back to shareholders.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
Free cash flow yieldWhy n/mFor a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy. | n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Free cash flow | 58.7M USD ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Free cash flow marginWhy n/mFor a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Dividend yield | 2.2% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Payout ratio | 27.5% ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
7 of 10
Filings
Every figure, the year it is for and the document it was read from.
SEC filingMarket data
The filed figures
Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.
| Figure | Value | Year | As of |
|---|---|---|---|
| 13.55x | FY2025 | Oct 15, 2026 | |
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| 0.96x | FY2025 | Oct 15, 2026 | |
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Oct 15, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tabForm10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Oct 15, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Mar 11, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tabForm10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| 2.2% | FY2025 | Oct 15, 2026 | |
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Mar 11, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Mar 11, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| 2.13x | FY2025 | Oct 15, 2026 | |
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| 2.78 | FY2025 | Oct 15, 2026 | |
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Oct 15, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tabForm10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Mar 11, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tabForm10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tabForm10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
| n/m | FY2025 | Mar 11, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itIncome statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tabForm10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itBalance sheetFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tabForm10-KFiledMar 11, 2026PeriodFY2025Accession0000736772-26-000031What we read from itCash flow statementFY2025Open on SEC.gov, accession 0000736772-26-000031, leaves this page and opens in a new tab | |||
The figures are computed from the accounts for fiscal 2025, the newest full year on file. 16 filed fiscal years on record, FY2009 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.
The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.
Ten years of filed figures, year by year
Ten years of filed figures
10 filed fiscal years, FY2016 to FY2025, read from the annual reports CNB Financial Corporation filed with the SEC. Each year names its filing. Amounts in USD, as filed.
| Year | Revenue | Operating income | Net income | EPS, diluted | Free cash flow | Operating margin | Return on equity | Filing |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 392.3M | n/a | 66.1M | 2.49 | 58.7M | n/a | 7.6% | 10-K, Mar 11, 20260000736772-26-000031 |
| FY2024 | 325.5M | n/a | 54.6M | 2.39 | 55.2M | n/a | 8.9% | 10-K, Mar 6, 20250000736772-25-000071 |
| FY2023 | 293.7M | 175.7M | 58.0M | 2.55 | 36.2M | n/a | 10.2% | 10-K, Mar 7, 20240000736772-24-000044 |
| FY2022 | 213.7M | 102.3M | 63.2M | 3.26 | 51.8M | n/a | 11.9% | 10-K, Mar 3, 20230000736772-23-000023 |
| FY2021 | 179.6M | 90.6M | 57.7M | 3.16 | 52.4M | n/a | 13.0% | 10-K, Mar 3, 20220000736772-22-000020 |
| FY2020 | 167.2M | 72.5M | 32.7M | 1.97 | 23.1M | n/a | 7.9% | 10-K, Mar 4, 20210000736772-21-000017 |
| FY2019 | 155.7M | 88.2M | 40.1M | 2.63 | 43.0M | n/a | 13.1% | 10-K, Mar 5, 20200000736772-20-000011 |
| FY2018 | 131.9M | 67.2M | 33.7M | 2.21 | 41.8M | n/a | 12.8% | 10-K, Mar 7, 20190000736772-19-000009 |
| FY2017 | 108.9M | 53.6M | 23.9M | 1.57 | 25.5M | n/a | 9.8% | 10-K, Mar 8, 20180001193125-18-075125 |
| FY2016 | 94.3M | 40.7M | 20.5M | 1.42 | 16.6M | n/a | 9.7% | 10-K, Mar 10, 20170001193125-17-078703 |
- Revenue, compound annual growth FY2016 to FY2025: 17.2%
- Earnings, compound annual growth FY2016 to FY2025: 13.9%
- Earnings per share, compound annual growth FY2016 to FY2025: 6.4%
- Free cash flow, compound annual growth FY2016 to FY2025: 15.0%
Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.
8 of 10
Risks and guardrails
The accounting screens, the published tests, and the lines you can set to be told.
ComputedCompany statement
| Figure | Value, source and document |
|---|---|
Beneish M-scoreWhy n/mThe Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
Piotroski F-scoreWhy n/m4 of the nine Piotroski signals are undefined for a bank: signal 5 (falling long-term leverage), signal 6 (rising current ratio), signal 8 (rising gross margin), signal 9 (rising asset turnover). We do not publish a partial score under the full score's name. | n/m ComputedFY2025 10-K, filed Mar 11, 2026, 0000736772-26-000031 |
| Named tests met | 1 of 30 Computed |
| Beta | 0.76 ComputedClose of Oct 15, 2026 |
The named tests
Of 30 tests value investors published: 1 met, 14 not met, 15 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.
Which tests, by name(all 30)
- Meets
- P/E times P/B (Benjamin Graham)
- Does not
- Large cap, low P/E; Low PEG, low debt (Peter Lynch); High returns and growth; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; High returns, low debt; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Tangible book or below; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
- Not measured
- Defensive investor (Benjamin Graham); Deep value; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; ROIC at or above WACC; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); Owner earnings yield; Book or below, low debt (Walter Schloss); Cash-covered dividend; Cash-flow yield and ROIC; Clean books, high ROIC. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(17)
- Current Ratio: Banks and insurers present an unclassified balance sheet under Regulation S-X, with no split between current and non-current. A current ratio needs that split, so there is none to show.
- Debt to Equity: A bank's deposits are its raw material, not borrowings. Debt to equity computed over a deposit-funded balance sheet says nothing about solvency. Use the equity to assets ratio instead.
- Piotroski F-Score: 4 of the nine Piotroski signals are undefined for a bank: signal 5 (falling long-term leverage), signal 6 (rising current ratio), signal 8 (rising gross margin), signal 9 (rising asset turnover). We do not publish a partial score under the full score's name.
- EV/EBIT: Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.
- Return on Invested Capital: Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.
- Altman Z-Score: Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.
- Beneish M-Score: The Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here.
- Gross Margin: This filer reports no gross profit line, so there is no gross margin to compute. Banks, insurers and REITs do not present cost of revenue.
- Asset Turnover: A lender's assets are loans and securities that earn interest, not plant used to produce sales. Revenue over assets is not a turnover measure here.
- EV/EBITDA: Enterprise value adds debt and subtracts cash. For a financial company both are the business itself, so the resulting multiple has no economic meaning.
- Interest Coverage: Interest is what a lender pays for its inventory of money, not a financing charge sitting below the operating line. Interest coverage is not defined for lenders.
- Free Cash Flow Yield: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
- ROIC-WACC Spread: Invested capital is equity plus debt less cash. A financial company's debt and cash are operating positions, so returns measured against that base are not comparable to an operating business.
- Price To Ncav: Net current asset value needs current assets, which an unclassified balance sheet does not report.
- Owner Earnings Yield: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
- Capex To Ocf: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
- Dividend Coverage Ratio: For a bank, an insurer, a broker or investment firm, or a mortgage trust, operating cash flow swings with the size of the loan, trading and funding book rather than with operating performance, so free cash flow is not the measure of the business. Look at earnings and capital adequacy.
9 of 10
Declared positions
Whether anybody here owns this company.
Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.
10 of 10
Next step
What to do with what you have read.
A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.
What this cannot tell you
- 17 figures could not be read on this company, among them Current Ratio, Debt to Equity, Piotroski F-Score. Each blank in the table above names the rest, with its reason. 15 named tests come back incomplete because of them, which is neither met nor missed.
And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.
Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.
No card. 30 free days, and nothing is charged unless you choose a plan.
ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.