Timberland Bancorp, Inc. (TSBK) 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

-0.9%

$47.32

vs $47.77 price

Levered DCF

$37.69

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.44

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	11.2×	9.04×	10.02×	8.16×	9.74×	8.73×	6.19×	9.52×
P/B	1.26×	1×	0.99×	0.95×	1.05×	1.17×	0.8×	1.34×
P/S	2.93×	2.38×	2.4×	2.54×	3.41×	3.51×	2.15×	3.43×
EV / EBITDA	8.57×	0.93×	2.73×	3.12×	-3.33×	-9.62×	-6.57×	0.23×
Gross margin	72.1%	70.1%	68.6%	84.3%	95.8%	95.6%	87.6%	93.2%
Operating margin	32.7%	32.8%	29.9%	39.0%	43.9%	50.2%	43.4%	44.8%
Net margin	26.2%	26.4%	23.9%	31.1%	35.1%	40.2%	34.8%	36.0%
Current ratio	0×	0.17×	0.15×	0.12×	0.24×	0.43×	0.32×	0.23×
Debt / equity	0.03×	0.09×	0.09×	0.16×	0.01×	0.04×	0.07×	0×
Interest coverage	1.23×	1.13×	0.99×	2.93×	11.06×	11.09×	6.45×	6.55×
Dividend yield	0.1%	3.1%	3.1%	3.7%	3.1%	3.6%	4.7%	2.8%
Payout ratio	0.9%	27.7%	31.5%	30.5%	30.6%	31.1%	29.2%	27.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.3%	11.1%	9.9%	11.6%	10.8%	13.3%	12.9%	14.0%
Return on invested capital	1.5%	10.1%	9.0%	9.9%	10.6%	12.7%	11.9%	13.8%
Return on assets	1.5%	1.4%	1.3%	1.5%	1.3%	1.5%	1.5%	1.9%
Free cash flow yield	0.0%	10.8%	8.9%	13.5%	11.1%	11.9%	21.3%	7.0%
Earnings yield	8.9%	11.1%	10.0%	12.2%	10.3%	11.4%	16.2%	10.5%
Enterprise value	$333.3M	$35.9M	$89.9M	$114.5M	-$108M	-$360.3M	-$217.5M	$7.4M
Net debt / EBITDA	-0.41×	-5.88×	-4.65×	-2.92×	-10.42×	-16.05×	-11.09×	-6.78×
Cash conversion cycle (days)	24	-63	-48	-145	-610	-503	-154	-356