First Northern Community Bancorp (FNRN) 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

+69.1%

$29.71

vs $17.57 price

Levered DCF

$29.28

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.73

Distress zone

Rating

Overall 2 / 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	9.97×	7.55×	5.97×	7.02×	8.92×	10.18×	8.6×	8.87×
P/B	1×	0.86×	0.81×	0.89×	0.83×	0.74×	0.95×	1.04×
P/S	2.4×	1.79×	1.6×	1.78×	2.29×	1.97×	2.26×	2.21×
EV / EBITDA	2.41×	0.51×	-1.23×	-3.88×	-10.71×	-8.87×	0.03×	-0.38×
Gross margin	83.2%	83.4%	89.2%	96.7%	101.1%	92.0%	96.7%	93.6%
Operating margin	31.0%	32.9%	36.8%	34.5%	35.3%	29.4%	36.3%	32.7%
Net margin	23.9%	23.7%	26.8%	25.3%	25.8%	21.5%	26.2%	23.8%
Current ratio	140.53×	0.46×	0.44×	0.48×	0.57×	0.49×	0.41×	0.39×
Debt / equity	0.03×	0×	0×	0.04×	0.04×	0.03×	0×	0×
Interest coverage	1.85×	1.95×	3.91×	18.27×	21.3×	11.23×	10.97×	13.64×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	0.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.0%	11.4%	13.5%	12.7%	9.4%	8.1%	11.1%	11.2%
Return on invested capital	1.1%	10.4%	13.5%	12.6%	9.4%	7.8%	11.1%	11.2%
Return on assets	1.1%	1.1%	1.2%	0.8%	0.7%	0.7%	1.1%	1.0%
Free cash flow yield	2.4%	12.7%	20.2%	19.2%	19.4%	10.5%	12.2%	12.6%
Earnings yield	10.0%	13.2%	16.7%	14.2%	11.3%	10.9%	11.6%	10.7%
Enterprise value	$72.5M	$15.7M	-$40.1M	-$91.3M	-$227.5M	-$167.3M	$680.5K	-$6.8M
Net debt / EBITDA	-4.65×	-4.42×	-5.19×	-8.62×	-16.64×	-14.79×	-5.74×	-6.92×
Cash conversion cycle (days)	30	33	-816	-3,369	12,367	-1,703	-4,104	-1,355