Eagle Bancorp, Inc.

EGBN

Financial ServicesBanks - RegionalNASDAQ

$25.40

Market Cap: $774.59M

Eagle Bancorp, Inc. (EGBN) Valuation Summary

Updated Apr 28, 2026 22:23

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$25.88 – $81.92	$42.39	+60.3%
Revenue DCF 10Y	$30.29 – $100.45	$50.81	+92.1%
▸ Trading Multiples
EV/Revenue	$63.10 – $89.68	$65.24	+146.6%

Valuation History

DCF Analysis

Eagle Bancorp, Inc. (EGBN) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$50.81

Market Price

$25.40

Upside / Downside

+100.0%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -26.9% to a target of 23.8% over 5 years, discounted at a WACC of 8.0%, Eagle Bancorp, Inc. (EGBN) has an intrinsic value of $50.81 per share (range: $30.29 – $100.45).

Key Assumptions

Current Operating Margin

-26.9%

Target Operating Margin

23.8%

WACC

8.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.6%

Target CapEx/Rev

6.0%

D&A/Revenue

0.7%

Tax Rate

24.2%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	311	-51.0%	-16.8%	-52	-52	2	(4)	31	-85	-81
2027	324	4.2%	-6.6%	-21	-21	2	(5)	1	-26	-23
2028	362	11.9%	3.5%	13	10	2	(8)	4	0	0
2029	405	11.9%	13.7%	55	42	3	(11)	4	29	22
2030	453	11.9%	23.8%	108	82	3	(15)	5	65	46
2031	500	10.4%	23.8%	119	90	3	(19)	5	70	45
2032	545	8.9%	23.8%	130	98	4	(24)	4	73	44
2033	585	7.4%	23.8%	139	106	4	(29)	4	76	43
2034	620	6.0%	23.8%	148	112	4	(34)	3	79	41
2035	648	4.5%	23.8%	154	117	4	(39)	3	79	38

Enterprise Value Bridge

Sum of PV(FCFF)175

Terminal Value (Gordon Growth at 3.0%)1,622

PV of Terminal Value778

Enterprise Value953

(–) Net Debt-584

Equity Value1,537

(÷) Shares Outstanding30

Fair Value per Share$50.81

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	17.8%	20.8%	23.8%	26.8%	29.8%
6.0%	$54	$66	$77	$89	$100
7.0%	$44	$52	$61	$69	$78
8.0%	$37	$44	$51	$58	$64
9.0%	$33	$39	$44	$50	$55
10.0%	$30	$35	$40	$44	$49

Current price: $25.40. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 10.0% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Eagle Bancorp, Inc. (EGBN) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$42.39

Market Price

$25.40

Upside / Downside

+66.9%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-26.9%

Target Operating Margin

23.8%

WACC

8.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.6%

Target CapEx/Rev

6.0%

D&A/Revenue

0.7%

Tax Rate

24.2%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	311	-51.0%	-16.8%	-52	-52	2	(5)	31	-86	-83
2027	324	4.2%	-6.6%	-21	-21	2	(9)	1	-30	-26
2028	362	11.9%	3.5%	13	10	2	(14)	4	-6	-5
2029	405	11.9%	13.7%	55	42	3	(20)	4	20	15
2030	453	11.9%	23.8%	108	82	3	(27)	5	53	37

Enterprise Value Bridge

Sum of PV(FCFF)-61

Terminal Value (Gordon Growth at 3.0%)1,076

PV of Terminal Value759

Enterprise Value698

(–) Net Debt-584

Equity Value1,282

(÷) Shares Outstanding30

Fair Value per Share$42.39

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	17.8%	20.8%	23.8%	26.8%	29.8%
6.0%	$43	$53	$63	$72	$82
7.0%	$36	$43	$50	$57	$64
8.0%	$31	$37	$42	$48	$54
9.0%	$28	$33	$37	$42	$47
10.0%	$26	$30	$34	$38	$42

Current price: $25.40. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 10.0% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$65.24

Market Price

$25.40

Upside / Downside

+156.8%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Eagle Bancorp, Inc. (EGBN) has a fair value of $65.24 based on 10 comparable companies in the Banks - Regional industry.

EV/Revenue Valuation — Banks - Regional

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Eagle Bancorp, Inc.EGBN	768	0.3x	0.8x
Shore Bancshares, Inc.SHBI	655	2.1x	4.3x
Arrow Financial CorporationAROW	610	2.5x	4.7x
Bar Harbor BanksharesBHB	591	3.4x	5.5x
Northrim BanCorp, Inc.NRIM	566	2.1x	5.0x
Farmers National Banc Corp.FMNB	565	3.4x	5.4x
Midland States Bancorp, Inc.MSBI	558	1.8x	3.4x
Flushing Financial CorporationFFIC	554	2.3x	5.4x
ACNB CorporationACNB	540	5.0x	7.9x
Third Coast Bancshares, Inc.TCBX	527	1.3x	3.2x
GBank Financial Holdings Inc.GBFH	413	4.1x	9.7x
Industry Median		2.4x	5.2x
(*) Revenue		634	244
= Enterprise Value		1,512	1,266
(-) Net Debt		-584	-584
Equity Value		2,096	1,850
(/) Outstanding shares		30	30
Fair Price		$69	$61

Selected Fair Value (avg of trailing + forward)

$65.24

+156.8%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

$25.88 – $81.92

$42.39

+60.3%

Revenue DCF 10Y

$30.29 – $100.45

$50.81

+92.1%

▸ Trading Multiples

EV/Revenue

$63.10 – $89.68

$65.24

+146.6%

DCF Analysis

Eagle Bancorp, Inc. (EGBN) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$50.81

Market Price

$25.40

Upside / Downside

+100.0%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-26.9%

Target Operating Margin

23.8%

WACC

8.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.6%

Target CapEx/Rev

6.0%

D&A/Revenue

0.7%

Tax Rate

24.2%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	311	-51.0%	-16.8%	-52	-52	2	(4)	31	-85	-81
2027	324	4.2%	-6.6%	-21	-21	2	(5)	1	-26	-23
2028	362	11.9%	3.5%	13	10	2	(8)	4	0	0
2029	405	11.9%	13.7%	55	42	3	(11)	4	29	22
2030	453	11.9%	23.8%	108	82	3	(15)	5	65	46
2031	500	10.4%	23.8%	119	90	3	(19)	5	70	45
2032	545	8.9%	23.8%	130	98	4	(24)	4	73	44
2033	585	7.4%	23.8%	139	106	4	(29)	4	76	43
2034	620	6.0%	23.8%	148	112	4	(34)	3	79	41
2035	648	4.5%	23.8%	154	117	4	(39)	3	79	38

Enterprise Value Bridge

Sum of PV(FCFF)175

Terminal Value (Gordon Growth at 3.0%)1,622

PV of Terminal Value778

Enterprise Value953

(–) Net Debt-584

Equity Value1,537

(÷) Shares Outstanding30

Fair Value per Share$50.81

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	17.8%	20.8%	23.8%	26.8%	29.8%
6.0%	$54	$66	$77	$89	$100
7.0%	$44	$52	$61	$69	$78
8.0%	$37	$44	$51	$58	$64
9.0%	$33	$39	$44	$50	$55
10.0%	$30	$35	$40	$44	$49

Current price: $25.40. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 10.0% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$65.24

Market Price

$25.40

Upside / Downside

+156.8%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Eagle Bancorp, Inc. (EGBN) has a fair value of $65.24 based on 10 comparable companies in the Banks - Regional industry.

EV/Revenue Valuation — Banks - Regional

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Eagle Bancorp, Inc.EGBN	768	0.3x	0.8x
Shore Bancshares, Inc.SHBI	655	2.1x	4.3x
Arrow Financial CorporationAROW	610	2.5x	4.7x
Bar Harbor BanksharesBHB	591	3.4x	5.5x
Northrim BanCorp, Inc.NRIM	566	2.1x	5.0x
Farmers National Banc Corp.FMNB	565	3.4x	5.4x
Midland States Bancorp, Inc.MSBI	558	1.8x	3.4x
Flushing Financial CorporationFFIC	554	2.3x	5.4x
ACNB CorporationACNB	540	5.0x	7.9x
Third Coast Bancshares, Inc.TCBX	527	1.3x	3.2x
GBank Financial Holdings Inc.GBFH	413	4.1x	9.7x
Industry Median		2.4x	5.2x
(*) Revenue		634	244
= Enterprise Value		1,512	1,266
(-) Net Debt		-584	-584
Equity Value		2,096	1,850
(/) Outstanding shares		30	30
Fair Price		$69	$61

Selected Fair Value (avg of trailing + forward)

$65.24

+156.8%