SR Bancorp, Inc. (SRBK) 株式分析

企業概要

SR Bancorp, Inc. operates as the holding company for Somerset Regal Bank, delivering retail and commercial banking services to individuals, businesses, and local municipalities within Essex, Hunterdon, Middlesex, Morris, Somerset, and Union counties in New Jersey. The company functions within the Financial Services sector, specifically categorized under the Banks - Regional industry, which implies a focus on localized lending and deposit gathering rather than broad national or international banking operations. As of the latest data, the entity holds a market capitalization of $137.67M and reports annual revenue of $31.75M over the trailing twelve months, employing a workforce of 119 individuals. These valuation and revenue figures indicate that SRBK is a micro-cap regional institution with a relatively modest scale compared to larger national banks, suggesting its operations are deeply embedded in specific geographic communities rather than diversified across multiple states. The low employee count relative to its revenue base highlights a lean operational structure typical of community banks, where staff efficiency is critical to maintaining profitability in a niche market.

財務健全性

The company reported revenue of $31.75M and net income of $4.28M over the trailing twelve months, while EBITDA figures are not available for this specific reporting period. The significant gap between the reported revenue of $31.75M and the net income of $4.28M reveals a cost structure heavily influenced by the inherent operating expenses of a banking institution, where interest income is offset by loan loss provisions, operational overhead, and personnel costs. Although the company holds $81.84M in cash reserves against $52.78M in debt, specific metrics such as free cash flow and the debt-to-equity ratio are not disclosed in the available data. The absence of reported free cash flow limits the immediate ability to assess the company's internal cash generation capacity beyond its total cash holdings. SRBK maintains a gross margin of 0.0%, which is standard for financial intermediaries as their primary revenue is interest-based rather than from the sale of goods, while an operating margin of 14.5% and a profit margin of 13.5% indicate that the company successfully manages its non-interest expenses to retain a substantial portion of its earnings. Regarding liquidity, the current ratio and debt-to-equity ratio are not reported, preventing a direct quantitative assessment of short-term liquidity coverage or leverage levels against equity. The company demonstrates a return on equity of 2.2% and a return on assets of 0.4%, metrics that suggest management effectiveness is constrained by the typical low asset yields associated with regional banking models and the current interest rate environment.

バリュエーション評価

The trailing twelve-month P/E ratio stands at 32.41, whereas the forward P/E is projected at 21.34, implying that the market expects a significant acceleration in earnings growth to bridge the gap between current valuation and future expectations. The price-to-book ratio is 0.70, indicating that the stock trades at a discount to its book value, which often reflects market skepticism regarding the quality of the bank's asset portfolio or concerns over future credit losses. Alternative valuation metrics such as the price-to-sales ratio of 4.34 and the EV/EBITDA ratio, which is not available, provide different perspectives on the company's value relative to its top-line revenue and operational earnings power. The stock has traded within a 52-week range bounded by a high of $18.04 and a low of $11.65, and without the specific current share price, the exact percentage deviation from these levels cannot be calculated, though the range demonstrates the volatility experienced over the past year. With a beta of 0.49, the stock exhibits price volatility that is significantly lower than the broader market, suggesting it may be less sensitive to general market fluctuations but potentially more sensitive to regional economic conditions specific to New Jersey.

Growth & Income

Revenue growth over the last year was 6.0%, while earnings growth declined by 7.5%, indicating that earnings are growing at a slower rate than revenue, which implies that net income is being compressed by rising costs or lower asset yields despite increased top-line activity. The company offers a dividend yield of 1.1% and maintains a payout ratio of 37.0%, suggesting that the dividend is funded by a portion of earnings that leaves a majority for retention or debt servicing, though the sustainability depends on the stability of the 2.2% return on equity. Since the company is a dividend payer, the payout ratio does not indicate reinvestment of all earnings into growth as seen in non-dividend payers, but rather a balanced approach to returning capital to shareholders while maintaining a conservative payout discipline. Overall, the growth and income profile presents a modest yield supported by stable revenue expansion but tempered by declining earnings growth and a low return on equity typical of small-cap regional banks operating in a competitive local banking environment.