Pathfinder Bancorp, Inc. (PBHC) 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

+544.7%

$110.24

vs $17.10 price

Levered DCF

$2.07

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.99

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	-26.13×	41.67×	9.28×	8.99×	8.29×	9.65×	17.38×	16.14×
P/B	0.73×	0.88×	0.55×	0.79×	0.7×	0.53×	0.69×	1.02×
P/S	1.12×	1.28×	0.91×	1.55×	1.51×	1.08×	1.35×	1.73×
EV / EBITDA	-108.91×	32.57×	17.38×	12.48×	8.38×	13.64×	21.8×	29.95×
Gross margin	38.5%	42.1%	55.9%	77.9%	83.2%	67.7%	66.2%	72.1%
Operating margin	-5.2%	6.2%	16.4%	27.8%	31.4%	17.3%	11.9%	12.1%
Net margin	-4.3%	4.1%	12.9%	22.9%	24.3%	14.4%	9.3%	10.7%
Current ratio	26.41×	0.24×	0.25×	0.2×	0.22×	0.18×	0.15×	0.27×
Debt / equity	0.89×	1.12×	1.77×	1.37×	0.99×	1.27×	1.23×	2.08×
Interest coverage	-0.13×	0.14×	0.41×	1.62×	2.13×	0.77×	0.4×	0.5×
Dividend yield	2.8%	2.2%	3.4%	2.3%	2.1%	2.7%	2.0%	1.6%
Payout ratio	-72.0%	70.3%	23.5%	15.8%	12.9%	20.3%	28.8%	25.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.8%	2.8%	7.8%	11.7%	11.2%	7.1%	4.7%	6.3%
Return on invested capital	-0.3%	1.8%	2.7%	4.8%	5.4%	3.0%	2.0%	1.9%
Return on assets	-0.2%	0.2%	0.6%	0.9%	1.0%	0.6%	0.4%	0.4%
Free cash flow yield	11.3%	2.7%	20.7%	18.9%	24.6%	87.1%	7.3%	5.0%
Earnings yield	-3.8%	3.2%	14.3%	14.8%	16.1%	13.4%	6.9%	6.2%
Enterprise value	$184.5M	$211.6M	$228.1M	$204.5M	$149.4M	$132.5M	$152.8M	$172.6M
Net debt / EBITDA	-56.5×	16.15×	12.41×	7.16×	4.07×	8.28×	12.95×	18.62×
Cash conversion cycle (days)	4,025	26	11	11	28	30	20	19