Nbt Bancorp Inc. (NBTB) intrinsic value & 10-year financials
Nbt Bancorp Inc. (NBTB) has a Graham intrinsic value of $70.39 per share. At $50.85 on Oct 17, 2026, the stock trades 28% below that value. Over the last 10 fiscal years revenue grew 5.7% a year to $183.0M, with an average return on invested capital of 12.1%.
- Graham intrinsic value
- $70.39
- Share price (Oct 17, 2026)
- $50.85
- Price vs Graham value
- 28% below
- Market cap
- $2.6B
- Revenue (FY2025)
- $183.0M
- Revenue growth (10-yr CAGR)
- 5.7%
- ROIC (10-yr avg)
- 12.1%
- Free cash flow (FY2025)
- $218.9M
NBTB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $183.0M | $169.2M | $3.33 | $218.9M | — | 11.4% |
| FY2024 | $165.7M | $140.6M | $2.97 | $176.8M | — | 9.3% |
| FY2023 | $144.7M | $118.8M | $2.65 | $148.2M | — | 7.5% |
| FY2022 | $150.7M | $152.0M | $3.52 | $176.2M | — | 18.5% |
| FY2021 | $151.0M | $154.9M | $3.54 | $149.9M | — | 40.6% |
| FY2020 | $140.9M | $104.4M | $2.37 | $134.3M | — | 9.3% |
| FY2019 | $134.5M | $121.0M | $0.00 | $146.8M | — | 7.2% |
| FY2018 | $126.0M | $112.6M | $0.00 | $140.4M | — | 6.6% |
| FY2017 | $113.4M | $82.2M | $0.00 | $130.2M | — | 5.2% |
| FY2016 | $111.2M | $78.4M | $0.00 | $107.3M | — | 5.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
NBT BANCORP INC has demonstrated mature, steady growth, with revenue compounding at 5.7% annually over the past decade.
NBT BANCORP INC returns on capital have been average, hovering around 12.1% ROIC over the decade.
NBT BANCORP 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, NBT BANCORP INC is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $70.39 per share.