CARECarter Bankshares, Inc.
National Commercial Banks
- Revenue
- $20M
- 4.6% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $643M
- Employees
- 687
- $30K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 1.4
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersNo2 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$1M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo127% of net incomeCash flow under 80% of net income
- Dilutive SBCYes10% of revenueOver 10% of revenue
- Payouts exceed cash flowNo50% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentYes72% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$30K · 29th pctBottom quartile of its SIC industry
- Quiet on AINo1.4 per 10K words · 43rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$643M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$221K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $17M | $18M | $17M | $19M | $20M | 4.6% |
| Net income | $32M | $50M | $23M | $25M | $31M | 28% |
| Operating cash flow | $78M | $71M | $47M | $37M | $40M | 7.9% |
| Capex | $8M | $6M | $10M | $8M | $8M | 1.0% |
| Stock-based comp | $1M | $1M | $2M | $2M | $2M | 18% |
| Buybacks | $157K | $43M | $16M | $0 | $20M | |
| Dividends | $0 | $0 | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $120K · 1
- Open-market sells, 12 mo
- $341K · 5
- Net
- −$221K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $1M | $1M | 183 | 211 |
| FY2024 | $1M | $1M | 164 | 165 |
| FY2023 | $785K | $798K | 140 | 123 |
| FY2022 | $1M | $1M | 155 | 113 |
| FY2021 | $934K | $891K | 144 | 136 |