Banc Of CALIFORNIA, Inc. (BANC) intrinsic value & 10-year financials
Banc Of CALIFORNIA, Inc. (BANC) has a Graham intrinsic value of $12.82 per share. At $17.18 on Oct 17, 2026, the stock trades 34% above that value. Over the last 10 fiscal years revenue grew 22.3% a year to $38.8M, with an average return on invested capital of -5.5%.
- Graham intrinsic value
- $12.82
- Share price (Oct 17, 2026)
- $17.18
- Price vs Graham value
- 34% above
- Market cap
- $2.8B
- Revenue (FY2025)
- $38.8M
- Revenue growth (10-yr CAGR)
- 22.3%
- ROIC (10-yr avg)
- -5.5%
- Free cash flow (FY2025)
- $234.8M
BANC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $38.8M | $229.0M | $1.17 | $234.8M | — | 8.1% |
| FY2024 | $37.2M | $126.9M | $0.52 | $64.3M | — | 7.7% |
| FY2023 | $33.8M | -$1.9B | -$11.36 | $120.5M | — | -111.1% |
| FY2022 | $30.7M | $120.9M | $2.57 | $132.0M | — | 4.8% |
| FY2021 | $6.0M | $62.3M | $3.88 | $102.9M | — | 6.4% |
| FY2020 | $3.8M | $12.6M | — | $69.8M | — | 1.8% |
| FY2019 | $4.0M | $23.8M | $0.03 | $69.8M | — | 3.3% |
| FY2018 | $5.6M | $45.5M | $0.23 | $114.0M | — | 6.3% |
| FY2017 | $6.6M | $57.7M | $0.35 | $547.7M | — | 5.8% |
| FY2016 | $6.3M | $115.4M | $0.97 | -$31.0M | — | 11.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BANC OF CALIFORNIA, INC. is a consistent compounder, expanding top-line revenue at 22.3% annually over the past decade.
BANC OF CALIFORNIA, INC. has historically struggled to out-earn its cost of capital, averaging just -5.5% ROIC.
BANC OF CALIFORNIA, INC. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BANC OF CALIFORNIA, INC. is modeled at 2.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $12.82 per share.