# Avidbank Holdings, Inc. Common stock (AVBH.US)

Canonical: https://gigainvestors.com/s/AVBH

Analysis as of: 2026-10-16T07:26:40.989Z. Financial observations: FY2015–FY2025.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $30.78 per share; close as of 2026-10-15.

Estimated value: low $24.66 per share, central $27.13 per share, high $30.14 per share. Buy at or below the central value $27.13 per share. Valuation as of 2026-10-16T07:26:40.989Z; scenarios are not confidence intervals.

Expected annual return: 8.8% at the stated quote. About 8.8% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- Financial history: 10 years

- Profitable years in the last ten: 10

- Required profitable years: 9

- Return on common equity variation (informational): 0.29×

Chart: Net income; fiscal year observations.

- FY2016: $7.3M

- FY2017: $5.7M

- FY2018: $11M

- FY2019: $13M

- FY2020: $9.6M

- FY2021: $12M

- FY2022: $25M

- FY2023: $17M

- FY2024: $21M

- FY2025: $24M

### moat: fail

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- median return on common equity below threshold

- Bank / P&C ROTE, median of available years: 10.6%

- Required median return: 12.0%

- Return uses tangible common equity: Yes

- Bank ROTE, second-lowest year: 7.5%

- Years with reported combined ratio: 0

Chart: Return on tangible common equity; fiscal year observations.

- FY2016: 11.4%

- FY2017: 6.3%

- FY2018: 11.1%

- FY2019: 11.0%

- FY2020: 7.5%

- FY2021: 8.9%

- FY2022: 18.2%

- FY2023: 10.2%

- FY2024: 11.3%

- FY2025: 8.5%

### economics: pass

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- Book value per share + reinvested dividends, annualized return: 20.0%

- Book return interval: 10 years

- Starting book value per share: $12.17

- Ending book value per share: $32.29

Chart: Annual book + dividend return; fiscal year observations.

- FY2016: 10.6%

- FY2017: 13.6%

- FY2018: 11.6%

- FY2019: 24.7%

- FY2020: 8.8%

- FY2021: 5.4%

- FY2022: 76.4%

- FY2023: 18.4%

- FY2024: 11.8%

- FY2025: 31.7%

### management: fail

- Tangible common book per share

- Parent-total proxy for preferred equity and common earnings

- ordinary share count growth exceeds 2% annually in both the full and five-year windows

- Diluted shares, 10-year annual growth: 6.7%

- Diluted shares, 5-year annual growth: 7.7%

- Share growth excluding flagged crisis recapitalisations: 6.7%

- Five-year share growth excluding flagged crisis recapitalisations: 7.7%

- Flagged crisis recapitalisations: 0

- Book value created per share: $20.12

- Earnings retained per share after dividends and buybacks: -$2.79

- Book created / earnings retained after dividends and buybacks: 1.00×

Chart: Shares (first year = 100); fiscal year observations.

- FY2015: 100

- FY2016: 103

- FY2017: 127

- FY2018: 129

- FY2019: 130

- FY2020: 131

- FY2021: 134

- FY2022: 163

- FY2023: 165

- FY2024: 166

- FY2025: 190

### accounting: pass

- Financial accounting warning count: 0

- Known restatement years: 0

## Holders

- [Matthew McLennan](https://gigainvestors.com/FE): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

The price assumes profits grow 1.2% a year forever · net income +14.1%

Story as of 2026-10-16T09:58:20.855Z; price observation 2026-10-15.

The price assumes profits grow 1.2% a year forever

### Net income · FY2025

net income +14.1%; source https://www.sec.gov/Archives/edgar/data/1443575/000143774926008852/avbh20251231_10k.htm; observed 2026-03-18.

- FY2016: $7.3M 

- FY2017: $5.7M 

- FY2018: $11M 

- FY2019: $13M 

- FY2020: $9.6M 

- FY2021: $12M 

- FY2022: $25M 

- FY2023: $17M 

- FY2024: $21M 

- FY2025: $24M 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in regional banking; annual sales are USD 30.9 million.

- Source: https://www.sec.gov/Archives/edgar/data/1443575/000143774926008852/avbh20251231_10k.htm#000143774926008852 (filed 2026-03-18); FY2025: revenue 30929000.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); AVBH.US: Avidbank Holdings, Inc. operates as a bank holding company for Avidbank that provides financial solutions and services. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit. The company also provides lending products, including working capital lines of credit, equipment loans, acquisition financing, shareholder buyouts, ESOP loans, and owner-occupied real estate loans; sponsor finance comprising acquisition term loans, recapitalization term loans, and working capital lines; and venture lending, such as venture debt, growth capital, recurring revenue, and treasury management services. In addition, it offers commercial real estate lending consisting of permanent loans and bridge financing products; Asset-Based Lending that includes Borrowing Base and ABL term loans; and construction lending products, including land acquisition loans, construction spec SFD, owner-occupied SFD, condominiums, subdivision, unsecured business lines, pre-development loans, real estate bridge loans, and RLOC " real estate secured loans. Further, the company provides private equity and venture capital financing solutions; structure finance; security and fraud prevention services; domestic and international wires, ACH origination, corporate credit cards, bill pay, trade finance letters of credit, and zero balance account; remote deposit capture, ACH collections, incoming wires, lockbox, and merchant services; and online banking real time fraud mitigation tools, check positive pay, and ACH positive pay. Additionally, it offers ATM/debit cards, credit cards, business courier, and complimentary notary services, as well as online and mobile banking services. The company was founded in 2003 and is headquartered in San Jose, California.

### Why customers stay

It earns 10.6% on shareholders’ money, excluding intangible assets.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-18); 10-year return on tangible equity observations [[2016,0.11436174400478673],[2017,0.06345180513315452],[2018,0.11062915356759123],[2019,0.11046007130890502],[2020,0.07525562052468654],[2021,0.08945295404814005],[2022,0.18193517427910832],[2023,0.10163206542779714],[2024,0.11276440476062717],[2025,0.08534089736243634]]; median 0.10604606836835108. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 2 of 10 years; bought back USD 1.5 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-18); Dividend observations: [[2016,0],[2017,0],[2018,0],[2019,10115000],[2020,0],[2021,0],[2022,157125000],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1443575/000143774926008852/avbh20251231_10k.htm (filed 2026-03-18); FY2025: cash repurchases 1522000 USD.

### What the price says

The price assumes profits grow 1.2% a year forever.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-18); Price 30.78; FX 1; original perpetual distributable cash 2.7128668003283947; discount 0.1; growth 0.011862677052358855. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $15.70 per share

- 2016-11: $19.10 per share

- 2016-12: $18.10 per share

- 2017-01: $18.75 per share

- 2017-02: $18.95 per share

- 2017-03: $19.10 per share

- 2017-04: $19.00 per share

- 2017-05: $19.50 per share

- 2017-06: $19.75 per share

- 2017-07: $19.70 per share

- 2017-08: $19.80 per share

- 2017-09: $19.90 per share

- 2017-10: $20.90 per share

- 2017-11: $21.90 per share

- 2017-12: $23.95 per share

- 2018-01: $24.15 per share

- 2018-02: $24.30 per share

- 2018-03: $24.75 per share

- 2018-04: $24.60 per share

- 2018-05: $24.55 per share

- 2018-06: $25.00 per share

- 2018-07: $25.75 per share

- 2018-08: $25.35 per share

- 2018-09: $25.40 per share

- 2018-10: $24.05 per share

- 2018-11: $24.00 per share

- 2018-12: $21.00 per share

- 2019-01: $21.25 per share

- 2019-02: $23.00 per share

- 2019-03: $23.20 per share

- 2019-04: $23.91 per share

- 2019-05: $24.15 per share

- 2019-06: $23.65 per share

- 2019-07: $24.00 per share

- 2019-08: $23.28 per share

- 2019-09: $24.00 per share

- 2019-10: $24.20 per share

- 2019-11: $24.90 per share

- 2019-12: $24.75 per share

- 2020-01: $24.91 per share

- 2020-02: $22.00 per share

- 2020-03: $16.00 per share

- 2020-04: $16.00 per share

- 2020-05: $14.91 per share

- 2020-06: $14.86 per share

- 2020-07: $14.70 per share

- 2020-08: $13.80 per share

- 2020-09: $13.20 per share

- 2020-10: $13.50 per share

- 2020-11: $18.00 per share

- 2020-12: $17.50 per share

- 2021-01: $18.00 per share

- 2021-02: $19.00 per share

- 2021-03: $22.00 per share

- 2021-04: $22.85 per share

- 2021-05: $23.40 per share

- 2021-06: $23.66 per share

- 2021-07: $22.75 per share

- 2021-08: $23.00 per share

- 2021-09: $22.75 per share

- 2021-10: $23.99 per share

- 2021-11: $24.00 per share

- 2021-12: $25.10 per share

- 2022-01: $26.34 per share

- 2022-02: $26.24 per share

- 2022-03: $25.85 per share

- 2022-04: $23.11 per share

- 2022-05: $22.00 per share

- 2022-06: $20.00 per share

- 2022-07: $20.75 per share

- 2022-08: $22.01 per share

- 2022-09: $21.75 per share

- 2022-10: $20.87 per share

- 2022-11: $21.00 per share

- 2022-12: $20.70 per share

- 2023-01: $21.50 per share

- 2023-02: $21.68 per share

- 2023-03: $16.99 per share

- 2023-04: $16.35 per share

- 2023-05: $14.38 per share

- 2023-06: $16.48 per share

- 2023-07: $20.20 per share

- 2023-08: $21.90 per share

- 2023-09: $21.32 per share

- 2023-10: $20.83 per share

- 2023-11: $20.70 per share

- 2023-12: $21.37 per share

- 2024-01: $20.16 per share

- 2024-02: $18.85 per share

- 2024-03: $19.24 per share

- 2024-04: $19.10 per share

- 2024-05: $18.98 per share

- 2024-06: $18.44 per share

- 2024-07: $19.55 per share

- 2024-08: $19.65 per share

- 2024-09: $19.51 per share

- 2024-10: $20.50 per share

- 2024-11: $22.10 per share

- 2024-12: $21.80 per share

- 2025-01: $23.39 per share

- 2025-02: $23.56 per share

- 2025-03: $22.63 per share

- 2025-04: $21.48 per share

- 2025-05: $19.80 per share

- 2025-06: $20.43 per share

- 2025-07: $21.75 per share

- 2025-08: $25.10 per share

- 2025-09: $25.50 per share

- 2025-10: $26.13 per share

- 2025-11: $26.15 per share

- 2025-12: $26.56 per share

- 2026-01: $29.10 per share

- 2026-02: $28.88 per share

- 2026-03: $28.50 per share

- 2026-04: $29.64 per share

- 2026-05: $30.78 per share

- 2026-06: $33.03 per share

- 2026-07: $32.61 per share

- 2026-08: $31.44 per share

- 2026-09: $30.99 per share

- 2026-10: $30.78 per share

## Annual estimated value (USD per share)

- FY2016: low $2.51 per share, central $3.14 per share, high $4.19 per share

- FY2017: low $1.89 per share, central $2.36 per share, high $3.15 per share

- FY2018: low $3.19 per share, central $3.98 per share, high $5.31 per share

- FY2019: low $4.89 per share, central $6.12 per share, high $8.16 per share

- FY2020: low $5.92 per share, central $7.39 per share, high $9.86 per share

- FY2021: low $6.23 per share, central $7.79 per share, high $10.39 per share

- FY2022: low $8.27 per share, central $10.34 per share, high $13.79 per share

- FY2023: low $15.58 per share, central $19.47 per share, high $25.96 per share

- FY2024: low $22.57 per share, central $28.21 per share, high $37.62 per share

- FY2025: low $31.13 per share, central $34.24 per share, high $38.04 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:32:18.379Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1443575/000143774926008852/avbh20251231_10k.htm); period 2025-12-31, filed 2026-03-18.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.