Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Capital Bancorp, Inc. (CBNK)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$100.58 - $587.06$186.24
Multi-Stage$58.43 - $63.93$61.13
Blended Fair Value$123.69
Current Price$31.90
Upside287.74%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.310.230.180.080.000.000.000.000.000.00
YoY Growth--34.57%27.07%123.23%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.11%1.11%1.10%0.36%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)49.67
(-) Cash Dividends Paid (M)6.97
(=) Cash Retained (M)42.69
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)9.936.213.72
Cash Retained (M)42.6942.6942.69
(-) Cash Required (M)-9.93-6.21-3.72
(=) Excess Retained (M)32.7636.4938.97
(/) Shares Outstanding (M)16.8316.8316.83
(=) Excess Retained per Share1.952.172.32
LTM Dividend per Share0.410.410.41
(+) Excess Retained per Share1.952.172.32
(=) Adjusted Dividend2.362.582.73
WACC / Discount Rate7.98%7.98%7.98%
Growth Rate5.50%6.50%7.50%
Fair Value$100.58$186.24$587.06
Upside / Downside215.30%483.83%1,740.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)49.6752.8956.3359.9963.8968.0570.09
Payout Ratio14.04%29.23%44.42%59.62%74.81%90.00%92.50%
Projected Dividends (M)6.9715.4625.0235.7747.8061.2464.83

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.98%7.98%7.98%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)14.1814.3214.45
Year 2 PV (M)21.0621.4621.87
Year 3 PV (M)27.6228.4129.22
Year 4 PV (M)33.8635.1636.50
Year 5 PV (M)39.8041.7243.72
PV of Terminal Value (M)846.60887.49929.94
Equity Value (M)983.121,028.571,075.70
Shares Outstanding (M)16.8316.8316.83
Fair Value$58.43$61.13$63.93
Upside / Downside83.17%91.64%100.42%

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