Capital Bancorp, Inc. (CBNK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+18.1%

$50.91

vs $43.11 price

Levered DCF

$90.10

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.43

Distress zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	8.17×	13.44×	9.45×	7.9×	9.03×	7.45×	12.11×	10.87×
P/B	1.16×	1.17×	1.33×	1.47×	1.83×	1.21×	1.53×	1.21×
P/S	1.53×	1.72×	1.64×	1.83×	2.08×	1.3×	1.9×	1.62×
EV / EBITDA	6.52×	5.55×	7.16×	7.18×	3.92×	2.26×	5.55×	6.82×
Gross margin	73.6%	68.4%	75.2%	90.7%	94.3%	83.4%	82.7%	84.4%
Operating margin	23.3%	17.3%	22.4%	30.1%	31.0%	23.8%	21.1%	20.8%
Net margin	18.8%	12.8%	17.4%	23.2%	23.0%	17.5%	15.7%	14.9%
Current ratio	0.13×	0.12×	0.08×	0.18×	0.21×	0.15×	0.15×	0.09×
Debt / equity	0.13×	0.1×	0.19×	0.58×	0.17×	0.23×	0.36×	0.2×
Interest coverage	1.09×	0.71×	1.11×	5.4×	8.23×	2.67×	1.43×	1.58×
Dividend yield	1.6%	1.3%	1.2%	0.9%	0.4%	0.0%	0.0%	0.0%
Payout ratio	12.8%	17.0%	10.9%	7.4%	3.5%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.2%	8.7%	14.1%	18.7%	20.2%	16.2%	12.7%	11.1%
Return on invested capital	4.0%	7.1%	11.1%	11.5%	15.5%	11.6%	8.4%	8.6%
Return on assets	1.6%	1.0%	1.6%	2.0%	1.9%	1.4%	1.2%	1.2%
Free cash flow yield	14.5%	7.9%	13.4%	15.1%	36.5%	2.7%	-13.5%	19.2%
Earnings yield	12.3%	7.5%	10.6%	12.7%	11.1%	13.4%	8.3%	9.2%
Enterprise value	$485.8M	$244.4M	$334.4M	$399.5M	$215.9M	$83.6M	$139.2M	$128.4M
Net debt / EBITDA	0.28×	-3.89×	-0.1×	1.25×	-2.64×	-2.93×	-2.61×	-0.52×
Cash conversion cycle (days)	-9	-20	-19	-3	-1	3	-19	-24