Home Federal Bancorp, Inc. of Louisiana (HFBL)

Industry: Banks - Regional Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
STLE	802	Steele Bancorp Inc	37	2.71	2.71	2.54	2.54	0.85	2.58
PNBS.JK	803	PT Bank Panin Duba	37	52.42	35.14	25.67	20.49	40.17	29.05
EMCF	804	Emclaire Financial	36	9.38	8.07	5.89	5.41	5.71	5.84
BNBA.JK	805	PT Bank Bumi Arta	34	126.70	149.52	24.89	26.86	-	56.62
UBCP	806	United Bancorp, In	34	13.61	14.25	11.14	11.70	-	14.63
BEKS.JK	807	PT. Bank Pembangun	34	30.83	30.83	6.54	6.54	49.77	7.26
CARV	808	Carver Bancorp, In	34	-	-	-	-	-	-
HFBL	809	Home Federal Banco	33	9.11	8.81	2.65	2.51	2.35	3.19
AUBN	810	Auburn National Ba	32	20.18	22.29	12.13	13.02	-	16.24
CLDB	811	Cortland Bancorp	32	11.45	9.96	6.51	6.00	12.13	21.92
RDRB.ME	812	The Russian Public	32	7.88	5.72	2.19	1.63	-	0.56
1111.HK	813	Huashi Group Holdi	30	2.64	2.64	2.15	2.15	2.07	2.15
AMRB	814	American River Ban	30	11.96	10.90	0.15	0.14	0.14	0.30
LSBK	815	Lake Shore Bancorp	29	22.38	22.42	17.18	17.35	-	18.71
FSEA	816	First Seacoast Ban	28	-	-	-	-	-	-
WMPN	817	William Penn Banco	27	-	-	1,759.23	3,989.63	-	-

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	11.70	10.43	6.51	6.00	2.07	6.55
Full Range Median Multiple	12.78	12.57	6.54	6.54	5.71	10.95
Industry Multiple	26.01	26.20	144.32	315.65	15.83	14.66
Market Implied Multiple	11.86	11.47	4.40	4.17	3.90	5.31
Company (HFBL) Multiple	9.11	8.81	2.65	2.51	2.35	3.19
(*) Net Income / EBITDA / Revenue	5	5	7	8	8	6
Winsorized Enterprise Value	N/A	N/A	47	45	17	39
Full Range Median Enterprise Value	N/A	N/A	47	49	46	65
(-) Net Debt	-22	-22	-22	-22	-22	-22
Winsorized Equity Value	53	49	69	68	39	61
Full Range Median Equity Value	58	59	69	72	69	87
(/) Shares Outstanding	3	3	3	3	3	3
Winsorized Fair Value	$17.69	$16.30	$22.96	$22.52	$13.02	$20.39
Full Range Median Fair Value	$19.32	$19.65	$23.02	$23.85	$22.80	$29.04
Current Price	$17.93	$17.93	$17.93	$17.93	$17.93	$17.93
Upside / Downside	-1.36%	-9.11%	28.06%	25.59%	-27.41%	13.71%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$12.38	$11.41	$16.07	$15.76	$9.11	$14.27
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy