Third Century Bancorp (TDCB) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Third Century Bancorp stock $14.85, price $15.11, that is 1.7% below the price, quality 56 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $5.81 – $19.49 · fair‑value band $11.22 – $19.10 · the $15.11 price screens above the $14.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 5, 2026.
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Third Century Bancorp, a holding company, engages in the provision of banking and financial services to individual and corporate customers in Johnson County and surrounding counties in Indiana.
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The company offers checking, savings, health savings accounts, and CDs and IRAs; business checking; treasury management, such as online banking, remote deposit capture, wire transfers, ACH origination, and merchant services; consumer lending, including home remodeling, lot and land, new and used vehicle, and unsecured loans, as well as home equity products; commercial, and mortgage loans; as well as bill pay, online and mobile banking, and e-statements.
It also provides 1031 Like-Kind Exchange, overdraft protection, ATM, debit and credit cards, check reorder, safe deposit boxes, trust services, switch kits, and financial calculator. Third Century Bancorp was founded in 1890 and is based in Franklin, Indiana.
Stock analysis
Third Century Bancorp (TDCB) currently trades at $15.11, while our model-based Fair Value estimate is $14.85, so the stock looks roughly fairly valued today (gap 1.8%).
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Valuation
Bull case: the Multiples group reads highest at a median of $15.28 per share, and 1 of the 6 models we run sit above the $15.11 price.
Bear case: the Dividend Discount group reads lowest at $4.74, and 5 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $11.22 (bear) to $19.10 (bull), the price of $15.11 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Third Century Bancorp reported revenue of $18.3M in FY2025 versus $10.5M in FY2021, a compound +14.8%/yr. Reported net income was $1.9M in FY2025, compounding −5.5%/yr from FY2021.
Key figures
Market cap $17.5M Micro · P/E ratio 9.3 · P/S ratio 0.95 · EPS (TTM) $1.61 · Dividend yield 1.0% · Net margin 10.2% · Return on equity 22.8% · Return on assets (EBIT) 0.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 72% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −2%, TDCB screens cheaper than that median.
Fair Value models
Bear$11.22Fair Value $14.85Bull$19.10
Price $15.11 · Downside -1.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.25 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.7%
Start year 2020 (pandemic). Over 10 years: +13.8% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+2.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.6%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.1.6% vs 14.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 11%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 996 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−1.7% · Above median
Profitability
Return on equity (12 months)22.8% · Top 25%
Return on assets0.5% · Bottom 25%
Net margin (12 months)22.1% · Bottom 25%
Operating margin (12 months)27.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)20.4% · Top 25%
Dividend yield (12 months)1.0% · Bottom 25%
Balance sheet
Debt / equity0.93× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (12 months)9.3× · Cheaper than median
P/B1.33× · Pricier than median
P/S (12 months)1.48× · Cheapest 25%
Price / free cash flow (fiscal year)8.0× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)31· sector 8
FUTURE (revenue growth)100· sector 47
PAST (return on equity)91· sector 43
HEALTH (low debt)–
DIVIDEND (yield)20· sector 53
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Third Century Bancorp Fair Value". https://www.fairvalue-calculator.com/stock/TDCB
Frequently asked questions
Is Third Century Bancorp (TDCB) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $14.85 versus a price of $15.11, about 2% lower (fairly valued).
What is the fair value of TDCB?
Our model-based fair value for Third Century Bancorp is $14.85 (as of Nov 5, 2026), built from audited fundamentals. The current price: $15.11.
What is the quality score of TDCB?
Third Century Bancorp has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Third Century Bancorp (TDCB)?
Our model-based price target is the fair value of $14.85 (as of Nov 5, 2026) from 6 valuation models. Cautious scenario $11.22, optimistic scenario $19.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Third Century Bancorp stock forecast for 2026?
Our models put fair value at $14.85, about 2% lower versus a price of $15.11 (fairly valued). Cautious scenario $11.22, optimistic scenario $19.10. The calculation is refreshed regularly with new filings.
What is the revenue of Third Century Bancorp (TDCB)?
Third Century Bancorp reported trailing-twelve-month revenue of about $11.8M (latest available figure, as of Nov 5, 2026).
Does Third Century Bancorp pay a dividend?
Third Century Bancorp currently shows a dividend yield of 0.99% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Third Century Bancorp (TDCB) and when is the ex-dividend date?
Third Century Bancorp pays a dividend of $0.15 per share a year, a dividend yield of 1.0%. The last ex-dividend date was Sep 14, 2026. A dividend has been paid every year since 2013. The payout ratio is 9.3% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Third Century Bancorp (TDCB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Third Century Bancorp it is $14.85 per share (as of Nov 5, 2026), against a price of $15.11. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Third Century Bancorp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, TDCB trades above its calculated fair value: price $15.11, fair value $14.85, a gap of about −2% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TDCB?
No. The price is what the market pays today ($15.11); the fair value is what the company's own numbers justify ($14.85). For Third Century Bancorp the two are $0.2600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Third Century Bancorp worth?
The market values Third Century Bancorp at about $17.5M (market capitalisation, as of Nov 5, 2026). Per share that is $15.11; our models calculate a fair value of $14.85 per share.
What do the bullish and bearish scenarios say about TDCB?
Our models span a range for Third Century Bancorp: cautious scenario $11.22, base $14.85, optimistic $19.10 per share (as of Nov 5, 2026, price $15.11). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TDCB?
Third Century Bancorp trades at a price-to-earnings ratio of 9.3 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $14.85 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 8.4. Other multiples: P/B 1.3, P/S 1.5.
How solid is the balance sheet of Third Century Bancorp (TDCB)?
Balance-sheet figures for Third Century Bancorp (as of Nov 5, 2026): return on equity 22.8%, debt of 0.93 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is TDCB from its 52-week high?
Third Century Bancorp trades at $15.11, about 22% below its 52-week high of $19.49 and 72% above the low of $8.79 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $14.85 is for.
Which stocks are comparable to Third Century Bancorp?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Third Century Bancorp stock attractive at the current price?
The data as of Nov 5, 2026: price $15.11, calculated fair value $14.85 (−2%), Quality Score 56/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TDCB calculated?
We run Third Century Bancorp through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $14.85 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Third Century Bancorp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Third Century Bancorp (TDCB)?
The closing price on Nov 6, 2026 was $15.11. Our model-based fair value is $14.85, about 2% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Third Century Bancorp right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Third Century Bancorp (TDCB) come from?
Earnings per share at Third Century Bancorp grew +12.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +15.7 %, EBIT margin −7.4 %, tax rate +4.4 %, residual (interest, one-offs) +0.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Third Century Bancorp
How large is the market capitalisation of Third Century Bancorp (TDCB)?
The market capitalisation of Third Century Bancorp is $17.5M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Third Century Bancorp (TDCB)?
The price-to-sales ratio of Third Century Bancorp is 0.95 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Third Century Bancorp (TDCB)?
Earnings per share at Third Century Bancorp are $1.61 (price ÷ EPS = P/E 9.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Third Century Bancorp (TDCB)?
The dividend yield of Third Century Bancorp is 1.0% (payout 9.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Third Century Bancorp (TDCB)?
The net margin of Third Century Bancorp is 10.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Third Century Bancorp (TDCB)?
The return on equity (ROE) of Third Century Bancorp is 22.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Third Century Bancorp (TDCB)?
On an EBIT basis the return on assets of Third Century Bancorp is 0.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Third Century Bancorp (TDCB)?
The operating margin of Third Century Bancorp is 27.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Third Century Bancorp (TDCB)?
Revenue at Third Century Bancorp is growing +20.4% versus a year earlier (3y avg +17.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Third Century Bancorp (TDCB)?
Earnings per share at Third Century Bancorp are growing +50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Third Century Bancorp (TDCB) generate?
The free cash flow of Third Century Bancorp is $2.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Third Century Bancorp (TDCB) carry?
The net debt of Third Century Bancorp is $20.9M (fiscal year 2025, ≈ 9.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 5, 2026