What is CB Financial Services, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on CB Financial Services, Inc.'s reported free cash flow gives $74.28 per share. The share price was $41.20 on November 9, 2026, 45% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 2.5% | 10.0% | $48.53 | +18% |
| Base | 7.5% | 9.0% | $74.28 | +80% |
| Bull | 12.5% | 8.0% | $125.61 | +205% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $93.41 | $99.27 | $106.43 | $115.38 | $126.89 |
| 8.0% | $79.12 | $82.92 | $87.41 | $92.80 | $99.38 |
| 9.0% | $68.68 | $71.28 | $74.28 | $77.77 | $81.91 |
| 10.0% | $60.74 | $62.58 | $64.68 | $67.07 | $69.83 |
| 11.0% | $54.49 | $55.84 | $57.36 | $59.06 | $60.99 |
Where the presets come from
Base: years 1 to 5 grow at CB Financial Services, Inc.'s revenue growth rate over the last 4 fiscal years (7.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions