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ZYBERNO

Stock Report

Updated Aug 21, 2026

CF BANKSHARES INC. (CFBK)

Financial Services • NASDAQ

$34.23

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

39.0/100

WEAK BUSINESS

CF BANKSHARES INC. (CFBK) scores 39/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full CFBK quality analysis & detailed breakdown

VALUATION SIGNAL

⚠

Business Model Limitation

CF BANKSHARES INC. operates in the Banking industry. Owner Earnings-based DCF analysis — the foundation of both the Margin of Safety and the Brina Gap — is not well-suited to companies whose business model is structurally built around leverage: banks, insurers, mortgage companies, and REITs. These businesses are typically valued using sector-specific metrics such as Price-to-Book, Price-to-FFO, or Net Asset Value. Treat these signals as directional only.

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

-26.9%

Overvalued

Growth gap unavailable — insufficient data for reverse DCF calculation.

🎯 Expected Annual Return →

-13.1%

Margin of Safety convergence — your return if the market re-prices to intrinsic value (5-yr annualised)

9.1%

Yield + growth — what the business alone earns you, even if the market never re-rates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full CFBK valuation analysis · → View full CFBK Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):AVERAGE (10.2%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.06x)

Operating Margin (Operational Efficiency):GOOD (19.1%)

Return on Capital (Capital Efficiency):CRITICAL (1.0%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

CF BANKSHARES INC. (CFBK) stock report — Zyberno Score 39/100 (WEAK BUSINESS), Margin of Safety -26.9%, -13% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, CF BANKSHARES INC. (CFBK) trades at $34.23 against an estimated intrinsic value per share of $26.96 — a -26.9% Margin of Safety based on Owner Earnings of $20.82M TTM, projected at -7.9% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of -13.1% annually.

Over the trailing twelve months, CFBK generated $20.82M in Owner Earnings. Capital was deployed as follows: $440.00K returned via share buybacks, $2.19M paid as dividends, $542.00K invested in capital expenditures. Reinvestment rate: 0.1%. Owner Earnings have declined at 7.9% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:34.23

Market Cap:$216.35M

Valuation Multiples (4)

P/E Ratio:

11.76x

📊 Click to view full CFBK P/E analysis →

P/B Ratio:1.11x

P/S Ratio:1.82x

Peg Ratio:2.65x

Enterprise Metrics (3)

Enterprise Value:-$32.67M

Ev Ebitda Ratio:-1.37x

Pfcf Ratio:11.05x

Price Action & Momentum (3)

12-1 Momentum:

+54.3% (76th pctile)

📈 Click to view full CFBK Momentum analysis →

Momentum Percentile:76 / 100

% of 52-Week High:92.7%

B. Profitability Assessment

Return Metrics (5)

ROE:

10.2%

📊 Click to view full CFBK ROE analysis →

ROA:0.9%

Roic:

1.0%

📊 Click to view full CFBK ROIC analysis →

Reinvestment Rate:0.1%

Fundamental Growth Rate (g):0.0%

Margin Analysis (3)

Operating Margin Ttm:19.1%

Net Margin Ttm:16.0%

Ebitda Margin:20.1%

TTM Performance (2)

Operating Margin Ttm:19.1%

Net Margin Ttm:16.0%

Yield Metrics (3)

Earnings Yield:$8.05

Owner Earnings Yield:$9.12

Dividend Yield:1.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

+0.54

📊 Click to view full CFBK Earnings Surprise analysis →

EPS Surprise vs Expected:14.3%

Latest Earnings Filed:2026-08-07

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):9.4%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):4.3%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):-7.6%

Operating Cash Flow Growth Rate (Linear):15.8%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):3.1%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.14x

Quick Ratio:0.14x

Cash Ratio:0.14x

Leverage Analysis (3)

Debt To Equity Ttm:0.06x

Debt-to-Equity Ratio:0.06x

Debt To Ebitda:0.17x

Coverage Ratios (2)

Interest Coverage Ratio:0.38x

Times Interest Earned:0.38

Capital Structure (4)

Working Capital:-1,575,553,000.00

Cash And Cash Equivalents:253,103,000.00

Long Term Debt:$3.13M

Net Debt:-$249.02M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $118.59M

Linear Growth: 9.4%

📊 Click to view full CFBK Revenue analysis & methodology →

Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

$0.00

Operating income TTM: $22.70M

Linear Growth: 3.1%

📊 Click to view full CFBK Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: $19.01M

Linear Growth: 4.3%

📊 Click to view full CFBK Net Income analysis & methodology →

Income Before Tax:$22.70M

Ebitda Ttm:23,824,000.00

Operating Expenses (5)

Operating Expenses:32,117,000.00

R And D Expense:0.00

Sga Expense:0.00

Income Tax Expense:$3.69M

Interest Expense:56,277,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:0.0%

Ebitda Margin:20.1%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$2.17B

Current Assets:$253.10M

Ppe Net:3,372,000.00

Goodwill:0.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:1,975,250,000.00

Current Liabilities:1,828,656,000.00

Long Term Debt:$3.13M

Short Term Debt:$950.00K

Equity & Capital (3)

Equity:$194.34M

Retained Earnings:$113.65M

Common Stock:9,090,909.00

Working Capital Items (3)

Accounts Receivable:0.00

Inventory:0.00

Accounts Payable:0.00

Special Items (2)

Contract Liabilities:0.00

Stock Based Compensation:483,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $21.21M

Linear Growth: 15.8%

Free cash flow TTM: $20.67M

Linear Growth: -7.6%

📊 Click to view full CFBK Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$22.72M

Capital Expenditures Ttm:542,000.00

Financing Activities (3)

Financing Cash Flow:$26.78M

Dividends Paid Ttm:2,190,000.00

Stock Repurchase:440,000.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:1,121,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):2.93

Eps diluted TTM: $2.91

Linear Growth: 4.1%

📊 Click to view full CFBK EPS analysis & methodology →

Earnings Per Share Ttm:$3.01

Revenue & Cash Per Share (3)

Sales Per Share Ttm:18.76

Operating Cash Flow Per Share:$2.96

Fcf Per Share Ttm:3.27

Book Value & Capital (2)

Book Value Per Share:$30.75

Cash Per Share:40.04

Dividend Policy (1)

Dividend Payout Ratio:11.15x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.06x

Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:-999.00x

Days Sales Outstanding Ttm:-999.00

Inventory Management (2)

Inventory Turnover Ttm:-999.00x

Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:-999.00

Cash Conversion Cycle:-999.00

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:60.00

Quality Score:90.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $20.82M

Linear Growth: -7.9%

📊 Click to view full CFBK Owner Earnings analysis & methodology →

Owner Earnings Per Share:$3.29

Owner Earnings Yield:$9.12

Growth Assessment (1)

Owner Earnings Growth Rate:-$7.91

Damodaran Growth Analysis (2)

Reinvestment Rate:0.1%

Fundamental Growth Rate (g):0.0%

Intrinsic Value Models (1)

Intrinsic Value:

$170.43M

📊 Click to view full CFBK DCF valuation →

Margin of Safety (1)

Margin Of Safety:

-26.9%

📊 Click to view full CFBK valuation analysis →

Return Scenarios (2)

Theoretical 5-Year Return:

-13.1%

📊 Click to view full CFBK expected return analysis →

Forward Expected Return (Yield + Growth):

9.1%

📊 Click to view full CFBK expected return analysis →

Investment Assessment (1)

Buffett Assessment:Overvalued

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):9.4%

Net Income Growth Rate (Linear):4.3%

Operating Income Growth Rate (Linear):3.1%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):-7.6%

Operating Cash Flow Growth Rate (Linear):15.8%

Other Growth Rates (2)

Book Value Growth Rate (Linear):9.9%

Owner Earnings Growth Rate:-$7.91

C. Company Profile & Context

Corporate Information (6)

Symbol:CFBK

Company Name:CF BANKSHARES INC.

Sector:Financial Services

Industry:Banking

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:6.32M

Shares Outstanding Basic:6.32M

Shares Outstanding Diluted:6.36M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-21 17:00:56 UTC

Data Timestamp:2026-08-18T22:58:36.561031