SR Bancorp, Inc. Common stock (SRBK)

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
PNBK	767	Patriot National B	57	-	-	-	-	-	-
TBNK	768	Territorial Bancor	54	-	-	-	-	-	13.46
HSPG.OL	769	Høland og Setskog	52	1.82	1.74	30.78	29.19	31.83	32.18
HMNF	770	HMN Financial, Inc	52	18.99	21.41	-	-	18.02	5.41
BVFL	771	BV Financial, Inc.	51	13.75	12.46	11.94	10.42	8.76	10.86
FHIPO14.MX	772	Fideicomiso Irrevo	51	13.99	15.66	-	-	39.59	-
RBKB	773	Rhinebeck Bancorp,	51	51.95	61.10	34.29	39.32	-	53.17
SRBK	774	SR Bancorp, Inc. C	50	26.53	26.53	13.10	13.10	27.40	18.53
AFBI	775	Affinity Bancshare	50	16.53	12.63	11.20	7.82	-	82.85
WPB.VI	776	Wiener Privatbank	50	-	-	-	-	-	-
NRDF.CO	777	Nordfyns Bank A/S	50	43.60	42.33	18.69	16.73	-	22.46
LOLB.CO	778	Lollands Bank A/S	49	10.80	10.12	-1.82	-1.68	-1.94	-1.71
IROQ	779	IF Bancorp, Inc.	48	16.55	16.15	12.02	11.99	11.00	11.75
SOGN.OL	780	Sogn Sparebank	48	1.45	1.06	4.20	3.11	3.94	3.15
BKSW.JK	781	PT Bank QNB Indone	48	129.14	129.14	7.09	7.09	18.33	14.59
BGTG.JK	782	PT Bank Ganesha Tb	48	11.13	11.13	8.31	4.03	8.01	8.61

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	13.87	12.54	11.20	7.82	9.88	11.75
Full Range Median Multiple	15.26	14.14	11.94	10.42	14.51	13.46
Industry Multiple	27.48	27.91	15.39	14.41	17.44	23.50
Market Implied Multiple	29.13	29.13	14.65	14.65	30.64	20.73
Company (SRBK) Multiple	26.53	26.53	13.10	13.10	27.40	18.53
(*) Net Income / EBITDA / Revenue	4	4	7	7	4	5
Winsorized Enterprise Value	N/A	N/A	84	59	35	62
Full Range Median Enterprise Value	N/A	N/A	89	78	52	71
(-) Net Debt	-20	-20	-20	-20	-20	-20
Winsorized Equity Value	62	56	104	79	56	82
Full Range Median Equity Value	68	63	110	98	72	92
(/) Shares Outstanding	8	8	8	8	8	8
Winsorized Fair Value	$7.89	$7.13	$13.28	$10.05	$7.10	$10.52
Full Range Median Fair Value	$8.68	$8.04	$13.98	$12.53	$9.21	$11.67
Current Price	$16.57	$16.57	$16.57	$16.57	$16.57	$16.57
Upside / Downside	-52.39%	-56.95%	-19.86%	-39.34%	-57.17%	-36.54%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$5.52	$4.99	$9.30	$7.04	$4.97	$7.36
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy