COFSCHOICEONE FINANCIAL SERVICES INC
State Commercial Banks
- Revenue
- $19M
- 49% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $530M
- Employees
- 598
- $32K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 0.3
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersYes3 of 3 years3+ of last 5 years
- High CEO pay despite TSRNo$888K medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo113% of net incomeCash flow under 80% of net income
- Dilutive SBCNo5% of revenueOver 10% of revenue
- Payouts exceed cash flowNo62% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo3% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$32K · 32nd pctBottom quartile of its SIC industry
- Quiet on AIYes0.3 per 10K words · 16th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$530M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$39K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | $89M | $114M | $13M | $19M | 49% |
| Net income | $22M | $24M | $21M | $27M | $28M | 5.4% |
| Operating cash flow | $38M | $44M | $46M | $47M | $32M | 32% |
| Capex | $3M | $1M | $4M | $2M | $7M | 288% |
| Stock-based comp | $812K | $958K | $1M | $720K | $883K | 23% |
| Buybacks | $8M | $682K | $0 | $0 | $3M | |
| Dividends | $7M | $8M | $8M | $9M | $17M | 88% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $404K · 8
- Open-market sells, 12 mo
- $443K · 1
- Net
- −$39K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $1M | $984K | 117 | 196 |
| FY2024 | $888K | $872K | 136 | 148 |
| FY2023 | $722K | $715K | 107 | 108 |