Pricing Log in Create free account
Saturday 17 October 2026 Export AROW’s income statement to Excel — free account

Arrow Financial Corporation

AROW Financial Banks Regional

Arrow Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $242.6 million, up 8.75% from fiscal 2024. In the quarter to June 2026, revenue grew 4.55%, EPS grew 1.54%, free cash flow grew 37.2% and total debt was flat, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years, revenue growth for ten; insiders bought in the last twelve months.

36.85 0.05 +0.14%
Market cap
$681.7M
P/E
11.9×
Fwd P/E
13.8×
Dividend yield
3.23%
F-score
8/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.19
Total sells 0.16
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 2 1 — — — — — — — — — —
Sell — — — — — — — 1 — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 681.67
Revenue 249.49
Net Income 51.29
Free Cash Flow 47.71
Net Debt (161.90)
Current Ratio 0.92
Debt/Equity 0.06
P/E ratio 11.89
Fwd P/E 13.80
P/S ratio 2.43
P/B ratio 1.36
Past 5Y EPS Growth 1.87%
This Y EPS Growth 32.49% (at or above 15%: strong)
Next Y EPS Growth 22.71% (at or above 15%: strong)
Next Y revenue growth (14.96%) (below 0%: weak)
Next 5Y EPS Growth 18.86% (at or above 15%: strong)

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

Valuation vs history

P/E against its own 10 years 22.85%
10-year low 10-year high
P/S against its own 10 years 26.87%
10-year low 10-year high
P/B against its own 10 years 29.27%
10-year low 10-year high

Dividends

Payout Ratio 0.38
Annual Dividend Rate 1.19
Annual Dividend Yield 3.23%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.20
0.30
0.30
0.30
2025 1.14
0.28
0.28
0.29
0.29
2024 1.09
0.27
0.27
0.27
0.28
2023 1.06
0.26
0.26
0.26
0.27
2022 1.03
0.25
0.25
0.25
0.26
2021 0.96
0.24
0.24
0.24
0.25
2020 0.93
0.23
0.23
0.23
0.24
2019 0.90
0.22
0.22
0.22
0.23
2018 0.86
0.21
0.21
0.22
0.22
2017 0.82
0.20
0.20
0.20
0.21
2016 0.80
0.20
0.20
0.20
0.20
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 143 155 214 187
Receivables — — — —
Inventory — — — —
Other — — — —
3,324 3,515 3,633 3,647
2023 2024 2025 Q'26
Payables 3,688 3,828 3,939 3,655
ST’ Debt — — — —
Other — — — —
3,714 3,837 3,944 3,965

Compound Annual Growth %

10y 5y 3y
Sales 9.39% 10.91% 14.75%
Cash Flow 3.62% (0.49%) (11.58%)
Earnings 5.95% 1.49% (3.43%)
Book Value 7.27% 5.25% 6.90%

Revenue $m

Mar Jun Sep Dec Year
’26 62 62 — — —
’25 58 59 62 63 243
’24 55 56 58 55 223
’23 43 47 50 52 192
’22 37 38 42 43 161
’21 36 38 38 36 148
’20 36 35 36 37 145
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 15 16 — — —
’25 10 10 15 6 41
’24 10 9 9 6 34
’23 13 12 11 (16) 21
’22 17 14 18 12 60
’21 20 20 16 12 68
’20 13 3 12 15 42
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 14 12 — — —
’25 9 9 15 6 39
’24 10 9 9 5 32
’23 11 11 10 (16) 16
’22 14 11 13 9 47
’21 19 19 14 10 63
’20 13 2 12 13 40
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.82 0.66 — — —
’25 0.38 0.65 0.77 0.85 2.65
’24 0.45 0.52 0.53 0.27 1.77
’23 0.50 0.35 0.46 0.46 1.77
’22 0.74 0.71 0.72 0.71 2.86
’21 0.78 0.78 0.76 0.59 2.92
’20 0.48 0.54 0.65 0.74 2.42
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
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 21.80 27.28 28.20 28.71 20.18 27.82 28.50 16.65 21.50 22.72

Analyst estimates 2026–2028

Powerpack
High 37.05 36.38 36.74 37.19 36.93 37.15 36.51 34.49 34.63 33.56
People
People Employees 524 533 516 520 517 512 502 537 554 578
Revenue/emp, $m 0.20 0.21 0.24 0.27 0.28 0.29 0.32 0.36 0.40 0.42
Income, $m
Income, $m Revenue 105 112 125 138 145 148 161 192 223 243
Gross margin, % 94.89 93.76 90.05 84.30 91.22 96.49 92.96 69.88 62.67 68.26
EBT 38 40 45 47 52 64 63 38 37 55
EBT margin, % 36.04 35.49 36.11 34.03 35.88 43.54 39.19 19.57 16.75 22.83
Net income 27 29 36 37 41 50 49 30 30 44
Depreciation 6 5 5 6 7 8 8 7 5 5
Per share, $
Per share, $ Revenue 6.36 6.77 7.51 8.23 8.55 8.70 9.44 11.25 13.33 14.70
Earnings 1.61 1.77 2.17 2.23 2.42 2.93 2.86 1.77 1.78 2.65
Cash flow 2.11 2.28 2.51 2.61 2.50 4.01 3.51 1.21 2.06 2.50
Capex 0.03 (0.07) (0.20) (0.46) (0.16) (0.33) (0.75) (0.26) (0.14) (0.12)
Free cash flow 2.14 2.21 2.32 2.15 2.35 3.68 2.76 0.95 1.92 2.38
Book value 14.14 15.05 16.14 17.94 19.79 21.84 20.79 22.29 23.95 26.17
Shares, m 16 17 17 17 17 17 17 17 17 17
Valuation, ×
Valuation, × P/E 22.38 17.69 13.87 16.49 12.04 11.67 11.84 15.93 16.13 11.85
P/S 5.66 4.60 4.02 4.46 3.39 3.93 3.60 2.51 2.15 2.14
P/B 2.55 2.07 1.87 2.05 1.47 1.57 1.63 1.27 1.20 1.20
EV/Sales 7.01 5.55 5.73 5.29 1.24 1.31 3.35 1.90 1.57 1.36
EV/FCF 20.83 17.01 18.57 20.25 4.54 3.09 11.47 22.46 10.90 8.36
Cash, $m
Cash, $m Operating cash flow 35 38 42 44 42 68 60 21 34 41
Capex 1 (1) (3) (8) (3) (6) (13) (4) (2) (2)
Free cash flow 35 37 39 36 40 63 47 16 32 39
Balance, $m
Balance, $m Working capital (359) (305) (140) (232) (305) (452) (535) (390) (321) (311)
Total debt 198 180 299 185 70 70 25 25 25 25
Net debt 141 107 215 115 (311) (388) (40) (117) (130) (189)
Shareholders’ equity 233 250 270 302 334 371 354 380 401 432
Returns, %
Returns, % ROA 1.05 1.09 1.26 1.21 1.19 1.29 1.22 0.74 0.70 1.00
ROIC 6.32 6.98 5.85 7.06 137.24 0.00 12.52 8.94 8.60 14.27
ROE 11.88 12.16 13.98 13.12 12.84 14.13 13.47 8.20 7.61 10.56
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Arrow Financial Corporation 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
WASH Washington Trust Bancorp, Inc. $707.1M 12.7× 10.7× −2.18% (below 0%: shrinking) +21.74% (above 0%: growing) +101.28% (above 0%: growing) 64.44% 0.00% Compare
CWBC Community West Bancshares $699.2M 13.8× 11.5× +32.57% (above 0%: growing) −75.61% (below 0%: shrinking) +65.55% (above 0%: growing) 76.29% 0.00% Compare
BCAL California BanCorp $698.0M 11.7× 11.5× −3.68% (below 0%: shrinking) +2.33% (above 0%: growing) +6.82% (above 0%: growing) 79.50% 0.00% Compare
TCBX Third Coast Bancshares, Inc. $689.5M 8.8× 10.6× +24.52% (above 0%: growing) +11.61% (above 0%: growing) +223.46% (above 0%: growing) 59.80% 0.00% Compare
AROW Arrow Financial Corporation $681.7M 11.9× 13.8× +4.55% (above 0%: growing) +1.54% (above 0%: growing) +37.22% (above 0%: growing) 71.42% 0.00%
PFIS Peoples Financial Services Corp. $681.2M 12.0× 9.2× +3.78% (above 0%: growing) −12.94% (below 0%: shrinking) +54.41% (above 0%: growing) 70.19% 0.00% Compare
CARE Carter Bankshares, Inc. $671.8M 5.2× 4.6× +44.00% (above 0%: growing) +254.05% (above 0%: growing) −3,522.21% (below 0%: shrinking) 76.12% 0.00% Compare
MSBI Midland States Bancorp, Inc. $670.3M 20.7× 9.1× −7.83% (below 0%: shrinking) +86.36% (above 0%: growing) +9.48% (above 0%: growing) 74.46% 0.00% Compare
RRBI Red River Bancshares, Inc. $666.1M 14.5× 12.5× +6.30% (above 0%: growing) +18.54% (above 0%: growing) +237.31% (above 0%: growing) 76.50% 0.00% Compare
Median of peers $685.4M 12.4× 10.6× +5.04% +15.08% +59.98% 75.29% 0.00%

All 323 Banks Regional stocks →

Arrow Financial Corporation (AROW) key facts

  • Strength: Arrow Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $242.6 million, up 8.75% from fiscal 2024.
  • Strength: Net income was $44.0 million, or $2.65 per share (basic), a net margin of 18.1%.
  • Arrow Financial Corporation (AROW) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, AROW traded at $36.85, a market capitalization of $681.7 million.
  • At that price the stock trades at 11.9× trailing-twelve-month earnings and 2.4× sales; its P/E is higher than 23% of its own readings over the past ten years.
  • Arrow Financial Corporation pays an annual dividend of $1.19 per share, a yield of 3.23%, with a payout ratio of 38.4%.
  • Return on equity was 10.6% and debt-to-equity 0.06.
  • Its Piotroski F-score is 8 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Arrow Financial Corporation (AROW) Latest News

No news at this impact. Lower the threshold for more.
stockrow.com/AROW · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com