First Northwest Bancorp (FNWB) 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

-301.3%

-$20.73

vs $10.30 price

Levered DCF

-$15.82

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.21

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	-19.54×	-13.6×	61.31×	8.98×	12.39×	14.05×	19.71×	21.49×
P/B	0.57×	0.58×	0.87×	0.86×	0.97×	0.78×	1.01×	0.89×
P/S	0.84×	0.76×	1.35×	1.54×	2.33×	2.15×	3.17×	2.97×
EV / EBITDA	-71.56×	-60.31×	80.73×	20.62×	9.02×	12.72×	19.14×	25.85×
Gross margin	47.3%	38.0%	61.1%	86.7%	91.5%	81.1%	78.5%	80.3%
Operating margin	-5.5%	-6.5%	2.5%	18.0%	22.9%	19.7%	19.7%	16.8%
Net margin	-3.9%	-5.7%	2.2%	17.2%	19.4%	15.3%	16.0%	13.8%
Current ratio	0.06×	0.23×	0.23×	0.23×	0.31×	0.32×	0.35×	0.29×
Debt / equity	2.06×	2.3×	2×	1.77×	0.62×	0.59×	0.64×	0.79×
Interest coverage	-0.12×	-0.13×	0.07×	1.55×	3.38×	1.72×	0.97×	0.96×
Dividend yield	1.5%	3.0%	1.9%	2.0%	1.4%	1.5%	0.8%	0.2%
Payout ratio	-31.4%	-40.0%	118.1%	17.8%	16.4%	21.1%	15.7%	4.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.7%	-4.3%	1.4%	9.7%	8.1%	5.5%	5.1%	4.1%
Return on invested capital	-0.8%	-1.2%	0.4%	3.0%	4.8%	3.5%	3.1%	2.3%
Return on assets	-0.2%	-0.3%	0.1%	0.8%	0.8%	0.6%	0.7%	0.6%
Free cash flow yield	-3.1%	18.9%	11.5%	9.3%	5.0%	7.9%	7.7%	6.9%
Earnings yield	-4.7%	-7.4%	1.6%	11.2%	8.4%	7.1%	5.1%	4.6%
Enterprise value	$329M	$370.4M	$346.4M	$379.3M	$177.8M	$190.1M	$242.7M	$263.5M
Net debt / EBITDA	-52.08×	-45.77×	47.6×	13.03×	-0.34×	3×	5.06×	10.81×
Cash conversion cycle (days)	14	9	-3	13	3	36	14	10