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John Marshall Bancorp, Inc.· JMSB

🇺🇸 US · MicroBroad USNASDAQ

Financial Services Banks - Regional Website

Price: $22.80
Day: -0.65%
Mkt Cap: $321.76M
52W Range: $18.50 – $24.26
Volume: 136.4K
Beta: 0.42

D35D Framework

Valuation Analysis

Intrinsic-value engines paired with peer-anchored multiples.

Valuation: 2.0 / 5 (Above estimate); at $22.80 the price is 59% above the blended estimate of $14
Estimates: Excess Return $7, sector peers $18 (145 companies), own 10-year history $25
Multiples: P/E 13.2x vs sector median 11.6x; EV/EBITDA 13.5x vs sector median 12.1x

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Valuation Assessment

JMSB Valuation Summary

How the Excess Return model, sector peers, and the stock's own history value it, combined into one estimate

Overall valuation

2.0/5

Above estimate

Excess Return + market · blended estimate

$14-36.9%

Blending the Excess Return intrinsic value with the market evidence from peers and the stock's own history, the price is 59% above the blended estimate.Last updated October 11, 2026.

About this estimate

This calculator estimates what a bank or insurer could be worth today as its book equity plus the capitalised value of earning a return on that equity above its cost of equity. It is a general research and education tool. It is not personal financial advice, not a forecast of the share price, and it does not take account of your objectives or circumstances.

The result is highly sensitive to its inputs, especially the normalised return on equity and the gap between the cost of equity and the terminal growth rate. When that gap is narrow a small change moves it substantially. Treat the output as one estimate within a wide range, not a precise figure.

The estimate runs on a set of assumptions: a normalised return on equity, a cost of equity, and a terminal growth rate. Each one is shown in the assumptions panel below, and you can change any of them to test your own scenario.

The default assumptions are a reasonable starting point because they are derived from the company's own reported financials over a through-cycle window together with market-standard inputs, with the cost of equity built from the current government-bond (risk-free) rate, the company's beta, and a published equity-risk premium, and they are refreshed each data cycle. They are defaults for a neutral calculation, not our view of the right values for you.

This calculator is a research and education tool. It is not intended to be relied on for the purpose of making a decision about any financial product, and you should consider obtaining advice from a licensed financial adviser before making any financial decision.

Excess-Return Valuation

Residual-income (justified P/B) model for JMSB. This is the standard valuation lens for banks and insurers, whose value is driven by earning a return on book equity above its cost.

Model estimate & assumptions

Excess-Return Intrinsic Value

Per-share intrinsic value from the excess-return (residual income) engine.

Justified P/BWell above estimate

Intrinsic (Excess Return)$7.09

Current price$22.80

Gap$15.71

Upside-68.9%

Basis: Book value & normalised ROE

JMSB's price is 222% above this excess-return estimate. Its 5.7% normalised ROE sits below the 8.5% cost of equity, justifying a P/B of 0.38x against the current 1.22x. You can adjust these inputs in the Customize Parameters section.

Customize Parameters

Stress-test the ROE, cost-of-equity, and terminal-growth assumptions.

Normalised ROE

Cost of Equity

Terminal Growth

Value breakdown

Value Breakdown

Where the intrinsic value comes from: book value, plus the extra value created by earning a return above the cost of equity.

Book value per share$18.72

Excess-return shortfall−$11.63

-164% of intrinsic value

Intrinsic value per share$7.09

A bank or insurer is worth its book equity, plus or minus the value of earning a return above or below its cost of equity. Clear that hurdle and the premium is positive; fall short and the value sits below book.

Model details

Valuation Multiples

Per-metric breakdown of how JMSB is priced relative to its sector peers, its own 10-year history, and analyst forward estimates.

Valuation context: This company is valued the way banks and insurers are, on its equity and what it earns on it. Debt is raw material for these businesses, not financing, so the EV multiples are shown for comparison only. The estimates come from P/E, P/B (under Additional valuation multiples), P/S and free cash flow.

What sector peers imply

Value if it traded at the sector-median multiple

What its own history implies

Value if it traded at its own 10-year median multiple

How the Multiples lens works

Five primary multiples surface the headline call; five additional multiples sit one click deeper for context.

Valuation multiples compare a company's market price to its financial fundamentals. The primary grid covers both the equity perspective (P/E, PEG, FCF Yield) and the enterprise value perspective (EV/EBITDA, EV/FCF) so you see how the market prices the company two ways simultaneously.

Price-based multiples use market cap and reflect what equity investors pay. EV-based multiples include debt and are better for comparing companies with different capital structures. The expanded section below adds P/B, P/S, P/FCF, EV/EBIT, and EV/Sales for additional perspective.

Learn more about the 5D valuation methodology

Valuation Analysis

Intrinsic-value engines paired with peer-anchored multiples.

Valuation: 2.0 / 5 (Above estimate); at $22.80 the price is 59% above the blended estimate of $14

Estimates: Excess Return $7, sector peers $18 (145 companies), own 10-year history $25

Multiples: P/E 13.2x vs sector median 11.6x; EV/EBITDA 13.5x vs sector median 12.1x

John Marshall Bancorp, Inc.· JMSB

Valuation Analysis

Excess-Return Valuation

Model estimate & assumptions

Value breakdown

Model details

Supporting metrics

Sensitivity analysis (ROE × cost of equity)

Formula reference

How the excess-return model works

Valuation Multiples

Additional valuation multiples5 more metrics: P/B Ratio, P/S Ratio, P/FCF, EV/EBIT, EV/Sales

How implied prices are calculated

Primary multiples primer

Search stocks

Valuation Analysis

Excess-Return Valuation

Model estimate & assumptions

Value breakdown

Model details

Supporting metrics

Sensitivity analysis (ROE × cost of equity)

Formula reference

How the excess-return model works

Valuation Multiples

Additional valuation multiples5 more metrics: P/B Ratio, P/S Ratio, P/FCF, EV/EBIT, EV/Sales

How implied prices are calculated

Primary multiples primer