Community Trust Bancorp Inc. /KY/ (CTBI) intrinsic value & 10-year financials
Community Trust Bancorp Inc. /KY/ (CTBI) has a Graham intrinsic value of $114.78 per share. At $75.08 on Oct 17, 2026, the stock trades 35% below that value. Over the last 10 fiscal years revenue grew 5.5% a year to $2.1M, with an average return on invested capital of 10.5%.
- Graham intrinsic value
- $114.78
- Share price (Oct 17, 2026)
- $75.08
- Price vs Graham value
- 35% below
- Market cap
- $1.4B
- Revenue (FY2025)
- $2.1M
- Revenue growth (10-yr CAGR)
- 5.5%
- ROIC (10-yr avg)
- 10.5%
- Free cash flow (FY2025)
- $97.4M
CTBI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.1M | $98.1M | $5.43 | $97.4M | — | 12.6% |
| FY2024 | $2.3M | $82.8M | $4.61 | $97.1M | — | 11.7% |
| FY2023 | $1.5M | $78.0M | $4.36 | $79.4M | — | 10.4% |
| FY2022 | $1.8M | $81.8M | $4.58 | $93.5M | — | 11.4% |
| FY2021 | $2.0M | $87.9M | $4.94 | $113.3M | — | 13.2% |
| FY2020 | $1.5M | $59.5M | $3.35 | $60.9M | — | 9.5% |
| FY2019 | $1.4M | $64.5M | $3.64 | $80.9M | — | 10.4% |
| FY2018 | $1.4M | $59.2M | $3.35 | $62.7M | — | 9.4% |
| FY2017 | $1.3M | $51.5M | $2.92 | $60.0M | — | 8.5% |
| FY2016 | $1.3M | $47.3M | $2.70 | $57.9M | — | 7.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
COMMUNITY TRUST BANCORP INC /KY/ has demonstrated mature, steady growth, with revenue compounding at 5.5% annually over the past decade.
COMMUNITY TRUST BANCORP INC /KY/ returns on capital have been average, hovering around 10.5% ROIC over the decade.
COMMUNITY TRUST BANCORP INC /KY/ 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, COMMUNITY TRUST BANCORP INC /KY/ is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $114.78 per share.