Alerus Financial

ALRS Financial Banks Regional

Alerus Financial’s revenue for fiscal 2025 (year ended December 2025) was $331.5 million, down 1.48% from fiscal 2024. In the quarter to June 2026, revenue grew 1.35%, EPS grew 3.80%, free cash flow grew 136.9% and total debt was flat, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.

31.34 0.63 +2.05%
Market cap
$765.5M
P/E
29.0×
Fwd P/E
9.7×
Dividend yield
2.74%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Total buys 0.06
Total sells 0.02
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — 1 — — — 1 —
Sell — — — — — — — — — — 1 —
Insider Ownership 10.49%

Capital & Financial Ratios $m

Market Cap 765.53
Revenue 334.91
Net Income 27.71
Free Cash Flow 89.31
Net Debt (50.27)
Current Ratio 0.90
Debt/Equity 0.10
P/E ratio 29.02
Fwd P/E 9.71
P/S ratio 2.35
P/B ratio 1.35
Past 5Y EPS Growth (23.05%) (below 0%: weak)
This Y EPS Growth 8.49%
Next Y EPS Growth (6.83%) (below 0%: weak)
Next Y revenue growth (6.16%) (below 0%: weak)
Next 5Y EPS Growth 1.42%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 82.08%
10-year low 10-year high
P/S against its own 10 years 95.77%
10-year low 10-year high
P/B against its own 10 years 67.30%
10-year low 10-year high

Dividends

Payout Ratio 0.81
Annual Dividend Rate 0.86
Annual Dividend Yield 2.74%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.87
0.21
0.22
0.22
2025 0.83
0.20
0.21
0.21
0.21
2024 0.79
0.19
0.20
0.20
0.20
2023 0.75
0.18
0.19
0.19
0.19
2022 0.70
0.16
0.18
0.18
0.18
2021 0.63
0.15
0.16
0.16
0.16
2020 0.60
0.15
0.15
0.15
0.15
2019 0.57
0.14
0.14
0.14
0.15
2018 0.53
0.13
0.13
0.13
0.14
2017 0.48
0.12
0.12
0.12
0.12
2016 0.44
0.11
0.11
0.11
0.11
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 130 65 69 110
Receivables — — — —
Inventory — — — —
Other — — — —
2,881 4,034 4,099 4,142
2023 2024 2025 Q'26
Payables 3,096 4,378 4,192 4,192
ST’ Debt — — — —
Other — — — —
3,474 4,688 4,570 4,604

Compound Annual Growth %

10y 5y 3y
Sales — 6.19% 13.49%
Cash Flow — 0.00% (13.12%)
Earnings — (16.83%) (23.87%)
Book Value — 11.34% 16.55%

Revenue $m

Mar Jun Sep Dec Year
’26 98 104 — — —
’25 96 102 100 33 332
’24 74 80 81 101 337
’23 63 66 70 45 245
’22 53 54 59 61 227
’21 64 59 59 58 240
’20 50 62 70 64 245
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 28 19 — — —
’25 8 11 33 16 68
’24 12 (12) 20 2 22
’23 (2) 14 13 2 27
’22 35 (18) 37 48 103
’21 55 29 33 32 150
’20 (21) (2) 3 (2) (22)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 26 18 — — —
’25 6 8 30 15 59
’24 11 (16) 20 (6) 9
’23 (3) 14 12 0 24
’22 35 (18) 36 48 101
’21 55 29 33 31 148
’20 (22) (3) 2 (3) (26)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.89 0.81 — — —
’25 0.52 0.78 0.65 (1.29) 0.68
’24 0.32 0.31 0.26 0.13 0.98
’23 0.40 0.45 0.45 (0.73) 0.58
’22 0.57 0.52 0.47 0.53 2.10
’21 0.86 0.66 0.74 0.72 2.97
’20 0.30 0.65 0.99 0.57 2.52
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 16.20 16.67 19.21 18.70 15.05 24.06 20.20 13.11 18.09 15.78

Analyst estimates 2026–2028

Powerpack
High 20.00 20.75 26.50 24.00 28.94 38.31 30.49 23.78 25.85 24.33
People
People Employees — — 792 789 851 836 837 754 892 864
Revenue/emp, $m 0.00 0.00 0.24 0.26 0.29 0.29 0.27 0.33 0.38 0.38
Income, $m
Income, $m Revenue 168 179 190 207 245 240 227 245 337 332
Gross margin, % 0.00 95.54 93.45 90.96 95.01 97.68 93.01 68.57 65.96 67.68
EBT 21 33 33 39 59 69 52 16 23 23
EBT margin, % 12.59 18.20 17.35 18.75 23.84 28.78 23.01 6.47 6.88 6.81
Net income 14 15 26 30 45 53 40 12 18 17
Depreciation — 12 10 10 11 13 12 11 16 18
Per share, $
Per share, $ Revenue 12.45 13.09 13.84 14.08 14.35 13.97 12.17 12.30 15.99 13.06
Earnings 1.00 1.10 1.88 1.96 2.57 3.02 2.12 0.59 1.00 0.69
Cash flow 1.51 3.51 3.89 1.31 (1.30) 8.72 5.52 1.35 1.03 2.66
Capex 0.00 (0.04) (0.27) (0.14) (0.22) (0.10) (0.10) (0.15) (0.59) (0.34)
Free cash flow 1.51 3.47 3.62 1.17 (1.52) 8.62 5.43 1.19 0.45 2.32
Book value 12.52 0.00 11.80 19.39 19.30 20.91 19.15 18.53 23.54 22.26
Shares, m 13 14 14 15 17 17 19 20 21 25
Valuation, ×
Valuation, × P/E 17.45 10.00 4.92 11.54 10.69 9.70 10.57 38.09 18.86 33.61
P/S 0.00 0.00 0.00 1.62 1.91 2.10 1.85 1.80 1.20 1.72
P/B 0.00 0.00 1.63 1.18 1.42 1.40 1.18 1.19 0.82 1.01
EV/Sales 0.00 0.00 0.00 1.21 1.44 1.33 1.85 1.51 1.19 1.69
EV/FCF 0.00 0.00 0.00 14.60 (13.58) 2.16 4.15 15.55 42.61 9.55
Cash, $m
Cash, $m Operating cash flow 20 48 54 19 (22) 150 103 27 22 68
Capex (2) (1) (4) (2) (4) (2) (2) (3) (12) (9)
Free cash flow 20 47 50 17 (26) 148 101 24 9 59
Balance, $m
Balance, $m Working capital — — (123) (108) (367) (946) (865) (593) (654) (471)
Total debt 60 59 59 59 59 59 59 59 59 59
Net debt 60 59 17 (85) (114) (183) 1 (71) (5) (10)
Shareholders’ equity 169 — 162 286 330 359 357 369 495 565
Returns, %
Returns, % ROA 0.67 1.46 1.22 1.27 1.63 1.62 1.10 0.30 0.39 0.33
ROIC 0.00 34.44 11.53 12.13 16.94 24.53 9.12 3.32 2.95 2.54
ROE 8.03 8.60 15.11 12.89 14.26 15.05 11.05 3.22 4.10 3.29
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Alerus Financial vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SPFI South Plains Financial, Inc. $809.1M 11.4× 11.7× +16.84% (above 0%: growing) +10.00% (above 0%: growing) +104.00% (above 0%: growing) 72.34% 0.00% Compare
IBCP Independent Bank Corp. $783.4M 10.2× 10.0× +5.66% (above 0%: growing) +12.35% (above 0%: growing) −1.00% (below 0%: shrinking) 76.53% 0.00% Compare
HTB HomeTrust Bancshares, Inc. $776.1M 12.2× 12.9× −4.58% (below 0%: shrinking) −5.94% (below 0%: shrinking) +417.30% (above 0%: growing) 77.45% 0.00% Compare
FISI Financial Institutions, Inc. $773.9M 9.6× 9.2× +0.58% (above 0%: growing) +24.71% (above 0%: growing) +397.95% (above 0%: growing) 68.40% 0.00% Compare
PGC Peapack-Gladstone Financial Corporation $769.9M 14.8× 11.9× +10.12% (above 0%: growing) +97.78% (above 0%: growing) +388.43% (above 0%: growing) 70.34% 0.00% Compare
SMBC Southern Missouri Bancorp, Inc. $769.7M 10.9× 10.3× +2.83% (above 0%: growing) +31.43% (above 0%: growing) −50.54% (below 0%: shrinking) 64.61% 0.00% Compare
ALRS Alerus Financial $765.5M 29.0× 9.7× +1.35% (above 0%: growing) +3.80% (above 0%: growing) +136.92% (above 0%: growing) 77.88% 0.00%
SHBI Shore Bancshares Inc $752.2M 11.4× 10.1× +0.40% (above 0%: growing) +21.74% (above 0%: growing) +185.78% (above 0%: growing) 71.57% 0.00% Compare
VBNK VersaBank $725.9M 29.3× 18.0× +19.17% (above 0%: growing) +46.67% (above 0%: growing) −124.97% (below 0%: shrinking) 42.29% 0.00% Compare
Median of peers $771.9M 11.4× 11.0× +4.25% +23.23% +144.89% 70.96% 0.00%

All 323 Banks Regional stocks →

Alerus Financial (ALRS) key facts

  • Concern: Alerus Financial’s revenue for fiscal 2025 (year ended December 2025) was $331.5 million, down 1.48% from fiscal 2024.
  • Alerus Financial (ALRS) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, ALRS traded at $31.34, a market capitalization of $765.5 million.
  • Alerus Financial pays an annual dividend of $0.86 per share, a yield of 2.74%, with a payout ratio of 81.1%.
  • Return on equity was 3.29% and debt-to-equity 0.10.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Alerus Financial (ALRS) Latest News

25 Sep

7 Aug

26 May

Impact 1 ·
stockrow.com/ALRS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com