Richmond Mutual Bancorporation, Inc. (RMBI) 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

-163.7%

-$10.07

vs $15.79 price

Levered DCF

-$8.24

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.19

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	11.7×	15.22×	12.65×	10.84×	16.38×	16.66×	-12.57×	31.02×
P/B	0.93×	1.07×	0.89×	1.06×	1.01×	0.87×	1.06×	2.07×
P/S	1.49×	1.68×	1.67×	2.48×	3.56×	3.38×	4.4×	4.51×
EV / EBITDA	23.24×	32.38×	30.38×	17.82×	22.44×	20.68×	-17.08×	37.05×
Gross margin	51.8%	50.2%	57.8%	80.9%	82.2%	73.4%	69.6%	76.1%
Operating margin	15.5%	12.8%	15.3%	27.8%	26.5%	25.2%	-42.8%	17.7%
Net margin	12.7%	11.0%	13.2%	22.9%	21.8%	20.2%	-31.1%	14.4%
Current ratio	0.26×	0.16×	0.44×	0.44×	0.57×	0.6×	0.57×	0.4×
Debt / equity	1.73×	1.99×	2.01×	1.36×	1×	0.88×	0.82×	1.59×
Interest coverage	0.33×	0.26×	0.37×	1.54×	1.77×	1.33×	-1.74×	0.9×
Dividend yield	4.3%	4.0%	4.9%	3.1%	5.1%	1.1%	0.0%	0.3%
Payout ratio	50.4%	60.8%	62.4%	34.0%	83.2%	18.4%	0.0%	8.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.9%	7.1%	7.0%	9.8%	6.2%	5.2%	-7.5%	6.6%
Return on invested capital	2.9%	2.3%	2.3%	4.0%	3.0%	2.6%	-3.8%	2.5%
Return on assets	0.8%	0.6%	0.6%	1.0%	0.9%	0.9%	-1.4%	0.7%
Free cash flow yield	10.8%	10.0%	9.6%	12.7%	-5.6%	8.8%	4.6%	4.0%
Earnings yield	8.5%	6.6%	7.9%	9.3%	6.1%	6.0%	-7.1%	3.2%
Enterprise value	$352.4M	$385.6M	$370.4M	$303.7M	$339.2M	$288.8M	$312.3M	$298.9M
Net debt / EBITDA	14.3×	20.4×	20.57×	9.6×	10.38×	8.68×	-6.2×	15.01×
Cash conversion cycle (days)	-4	609	763	837	923	892	901	1,002