Eastern Bankshares, Inc. (EBC) intrinsic value & 10-year financials

Eastern Bankshares, Inc. (EBC) has a Graham intrinsic value of $9.09 per share. At $21.31 on Oct 17, 2026, the stock trades 134% above that value. Over the last 9 fiscal years revenue shrank 2.8% a year to $134.1M, with an average return on invested capital of 5.5%.

Graham intrinsic value
$9.09
Share price (Oct 17, 2026)
$21.31
Price vs Graham value
134% above
Market cap
$4.4B
Revenue (FY2025)
$134.1M
Revenue growth (9-yr CAGR)
-2.8%
ROIC (10-yr avg)
5.5%
Free cash flow (FY2025)
$413.0M

EBC 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $134.1M $88.2M $0.43 $413.0M — 2.2%
FY2024 $112.6M $119.6M $0.66 $270.3M — 3.6%
FY2023 $76.9M $232.2M $1.43 $253.6M — 8.5%
FY2022 $176.6M $199.8M $1.21 $221.3M — 6.8%
FY2021 $164.2M $154.7M $0.90 $168.8M — 4.5%
FY2020 $154.7M $22.7M $0.13 $64.7M — 0.9%
FY2019 $156.2M $135.1M $0.00 $189.0M — 8.9%
FY2018 $164.1M $122.7M $0.00 $196.0M — 8.9%
FY2017 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Eastern Bankshares, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Eastern Bankshares, Inc. 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.

Eastern Bankshares, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Eastern Bankshares, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.09 per share.

EBC stock: frequently asked questions

What is the intrinsic value of Eastern Bankshares, Inc. (EBC) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 8.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, EBC's intrinsic value is about $9.09 per share.

Is EBC stock undervalued?

At $21.31 (close on Oct 17, 2026), EBC trades 134% above its Graham value of $9.09. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

Does Eastern Bankshares, Inc. generate free cash flow?

Eastern Bankshares, Inc. generated $413.0M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 8 of the last 8 reported years.

What is EBC's return on invested capital?

Average ROIC over the last 9 fiscal years was 5.5%, and average return on equity was 5.5%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this EBC data come from?

From Eastern Bankshares, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 7, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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