First Northwest Bancorp (FNWB): fair value, margin of safety and Wheel Score

Is FNWB undervalued?

First Northwest Bancorp (FNWB) closed at 10.33 on 5 Nov 2026. The GLS average fair value - the simple average of the 2 valuation models that produced a positive number - is 18.38, which puts the price 44% below it. 1 of the 2 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.

The average is built from just 2 models (10 Cap, DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.

The nightly engine files FNWB under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.

Nine valuation models for FNWB

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

First Northwest Bancorp scores only 3 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 2.7/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.

Returns on capital are thin or negative - ROIC -0.9%, ROE -2.7%, ROA -0.2% - with debt at 2.06 times equity and a free-cash-flow yield of 16.4%. Debt of 2.06 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.

The dividend yield is 1.34% with a payout ratio of -40% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Credit Card Interchange Income 53%, Deposit Fees 43%, Debit Interchange Income 4% (fiscal year FY2020).

Institutional ownership scores 5/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 27: No options

No options are listed on First Northwest Bancorp in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 27, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.

Volume runs at 12k shares a day on a market cap of $98M, with a beta of 0.62 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for FNWB in the nightly calendar.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

Similar stocks in Banks - Regional

The 12 companies below are the closest to First Northwest Bancorp by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.

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