Kentucky First Federal Bancorp (KFFB) reported QQ3 2024 results for the period ended March 31, 2024, showing revenue of $1.871 million against cost of revenue of $2.38 million, yielding an anomalous gross profit figure of $4.251 million and a gross margin of roughly 2.27%. The quarter produced a net loss of $107 thousand, or $0.013 per share, with operating income of -$145 thousand and EBITDA of -$86 thousand. While cash flow from operations was modestly negative (-$0.176 million), financing activities produced a net inflow of $3.125 million, helping end-of-period cash balance to $15.423 million.
From a balance-sheet perspective, total assets stood at $369.1 million with total liabilities of $320.1 million and stockholders’ equity of $49.0 million. Liquidity metrics appear favorable on the surface (current ratio 112.65x, quick ratio 201.70x, cash ratio 98.20x), though these figures likely reflect data irregularities rather than practical funding liquidity. End-of-period cash and cash equivalents were $14.73 million; net debt stood at $57.62 million, and total debt was $72.35 million. The quarter did not produce any earnings per share upside, with basic and diluted EPS at -$0.013.
Valuation signals show the stock trading below book value (price-to-book around 0.63x) and a price-to-sales multiple around 16.45x, with a negative P/E given the loss for the quarter. Peers in the regional bank space show higher P/B multiples (e.g., OFED ~1.03x, IROQ ~0.73x, LNKB ~0.86x, FKYS ~0.91x, LSBK ~0.73x), suggesting a potential relative valuation discount for KFFB. The year-over-year and quarter-over-quarter metrics indicate deteriorating revenue (YoY -11.49%, QoQ -52.67%), and a marked swing in profitability (net income YoY -174.31%, QoQ +70.36%). Management commentary, if available, would be critical to confirm the drivers behind these figures and the path to earnings stabilization.