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 $82.81 per share. The share price was $37.05 on September 25, 2026, 55% 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% | $57.06 | +54% |
| Base | 7.5% | 9.0% | $82.81 | +123% |
| Bull | 12.5% | 8.0% | $134.14 | +262% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $101.94 | $107.80 | $114.96 | $123.91 | $135.42 |
| 8.0% | $87.65 | $91.45 | $95.94 | $101.33 | $107.91 |
| 9.0% | $77.21 | $79.81 | $82.81 | $86.30 | $90.44 |
| 10.0% | $69.26 | $71.11 | $73.21 | $75.60 | $78.36 |
| 11.0% | $63.02 | $64.37 | $65.89 | $67.59 | $69.52 |
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