Saturday 17 October 2026 Export BWB’s income statement to Excel — free account

Bridgewater Bancshares, Inc.

Bridgewater Bancshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $292.8 million, up 15.6% from fiscal 2024. In the quarter to June 2026, revenue grew 2.96%, EPS grew 23.7%, free cash flow grew 287.4% and total debt fell 15.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

20.58 0.21 +1.03%

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Market cap: $568.0M
P/E: 10.9×
Fwd P/E: 9.5×
Dividend yield: —
F-score: 6/9
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 0.00

Total sells 10.66

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	1	—	—	—	—	—
Sell	7	5	—	3	—	1	5	2	2	8	3	—

Insider Ownership 23.98%

Capital & Financial Ratios $m

Market Cap 568.00

Revenue 306.66

Net Income 56.35

Free Cash Flow 36.65

Net Debt 247.10

Current Ratio 1.05

Debt/Equity 0.79

P/E ratio 10.89

Fwd P/E 9.53

P/S ratio 1.87

P/B ratio 1.19

Past 5Y EPS Growth 9.89%

This Y EPS Growth 20.89%

Next Y EPS Growth 13.88%

Next Y revenue growth (44.29%)

Next 5Y EPS Growth 13.97%

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

Valuation vs history

P/E against its own 10 years 37.62%

10-year low 10-year high

P/S against its own 10 years 38.45%

10-year low 10-year high

P/B against its own 10 years 44.98%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	146	253	145	188
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	3,830	4,081	4,408	4,565

	2023	2024	2025	Q'26
Payables	3,710	4,087	4,320	4,346
ST’ Debt	—	—	—	—
Other	—	—	—	—
	3,729	4,105	4,324	4,349

Compound Annual Growth %

	10y	5y	3y
Sales	—	19.40%	19.86%
Cash Flow	—	3.86%	(31.09%)
Earnings	—	9.10%	(5.20%)
Book Value	—	14.27%	9.48%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	80	75	—	—	—
’25	68	73	76	76	293
’24	60	63	65	66	253
’23	54	56	59	60	229
’22	36	39	44	51	170
’21	31	33	35	35	134
’20	29	30	30	32	121

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	16	10	—	—	—
’25	7	4	10	7	28
’24	7	11	(6)	35	46
’23	8	15	16	(8)	30
’22	31	40	9	5	85
’21	21	7	16	10	54
’20	(2)	3	17	5	23

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	14	9	—	—	—
’25	7	2	9	5	22
’24	7	10	(6)	32	43
’23	8	12	16	(9)	27
’22	31	39	9	4	83
’21	20	7	16	10	53
’20	(10)	(5)	11	2	(2)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.58	0.45	—	—	—
’25	0.31	0.38	0.38	0.43	1.49
’24	0.24	0.26	0.27	0.26	1.03
’23	0.37	0.31	0.30	0.28	1.27
’22	0.39	0.41	0.47	0.45	1.72
’21	0.37	0.38	0.40	0.39	1.54
’20	0.25	0.26	0.25	0.17	0.93

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	9.30	9.69	7.99	12.29	14.97	7.90	10.52	11.93	Analyst estimates 2026–2028 Powerpack
	High	—	—	13.87	13.90	13.88	20.05	20.21	17.87	16.00	19.11
People
People	Employees	—	114	140	160	185	223	246	255	290	322
	Revenue/emp, $m	0.00	0.60	0.63	0.67	0.65	0.60	0.69	0.90	0.87	0.91
Income, $m
Income, $m	Revenue	53	69	88	108	121	134	170	229	253	293
	Gross margin, %	84.00	82.33	76.66	72.45	77.74	85.57	80.00	48.80	43.26	48.97
	EBT	21	27	32	38	36	62	72	53	43	60
	EBT margin, %	39.98	39.25	36.62	35.62	29.56	45.89	42.18	22.95	16.87	20.51
	Net income	13	17	27	31	27	46	53	40	33	46
	Depreciation	3	4	4	4	4	6	6	4	2	(1)
Per share, $
Per share, $	Revenue	2.39	2.80	3.03	3.67	4.22	4.79	6.13	8.22	9.22	10.63
	Earnings	0.59	0.69	0.93	1.07	0.95	1.59	1.78	1.29	1.05	1.53
	Cash flow	0.67	1.01	1.01	1.35	0.81	1.94	3.06	1.08	1.69	1.01
	Capex	(0.09)	0.14	(0.12)	(0.49)	(0.86)	(0.03)	(0.06)	(0.10)	(0.13)	(0.21)
	Free cash flow	0.58	1.15	0.90	0.86	(0.05)	1.91	3.00	0.98	1.56	0.80
	Book value	0.00	5.57	7.62	8.34	9.29	13.53	14.20	15.27	16.66	18.77
	Shares, m	22	25	29	29	29	28	28	28	27	28
Valuation, ×
Valuation, ×	P/E	18.39	18.39	11.34	12.88	13.15	11.13	9.78	10.18	12.87	11.53
	P/S	4.51	4.51	3.49	3.76	2.96	3.69	2.84	1.60	1.47	1.65
	P/B	2.26	2.26	1.38	1.65	1.35	1.59	1.47	1.02	0.95	1.07
	EV/Sales	5.39	5.39	4.73	4.86	2.65	3.58	3.24	2.70	2.20	2.89
	EV/FCF	13.11	13.11	15.94	20.70	(208.25)	8.98	6.61	22.79	13.02	38.21
Cash, $m
Cash, $m	Operating cash flow	15	25	29	40	23	54	85	30	46	28
	Capex	(2)	3	(3)	(14)	(25)	(1)	(2)	(3)	(4)	(6)
	Free cash flow	13	28	26	25	(2)	53	83	27	43	22
Balance, $m
Balance, $m	Working capital	—	(17)	91	95	(54)	(18)	(87)	101	(24)	84
	Total debt	72	93	149	161	131	135	176	399	439	508
	Net debt	72	61	109	119	(37)	(16)	68	253	186	364
	Shareholders’ equity	—	137	221	245	265	379	394	426	458	517
Returns, %
Returns, %	ROA	1.63	2.09	1.50	1.48	1.05	1.39	1.26	0.80	0.59	0.80
	ROIC	18.46	8.55	6.08	6.59	9.77	10.59	9.70	4.84	4.15	4.26
	ROE	10.49	13.40	15.03	13.48	10.66	15.40	15.41	10.46	7.67	9.98

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FBIZ First Business Financial Services, Inc.	$586.5M	10.7×	9.4×	+7.37% (above 0%: growing)	+36.30% (above 0%: growing)	+181.48% (above 0%: growing)	63.47%	0.00%	Compare
KRNY Kearny Financial	$585.0M	15.7×	10.6×	+2.23% (above 0%: growing)	0.00%	+72.16% (above 0%: growing)	52.34%	0.00%	Compare
GCBC Greene County Bancorp, Inc.	$583.1M	14.3×	—	+7.97% (above 0%: growing)	+21.82% (above 0%: growing)	+40.48% (above 0%: growing)	67.04%	0.00%	Compare
BWB Bridgewater Bancshares, Inc.	$568.0M	10.9×	9.5×	+2.96% (above 0%: growing)	+23.68% (above 0%: growing)	+287.44% (above 0%: growing)	54.53%	0.00%
SFST Southern First Bancshares, Inc.	$566.3M	12.6×	11.5×	+10.76% (above 0%: growing)	+50.62% (above 0%: growing)	+66.02% (above 0%: growing)	58.21%	0.00%	Compare
UNTY Unity Bancorp, Inc.	$563.0M	9.6×	9.5×	+0.29% (above 0%: growing)	−12.20% (below 0%: shrinking)	−57.88% (below 0%: shrinking)	69.50%	0.00%	Compare
SUPV Grupo Supervielle S.A.	$559.2M	— (loss-making)	—	−1.93% (below 0%: shrinking)	−28.57% (below 0%: shrinking)	−129.06% (below 0%: shrinking)	64.28%	0.00%	Compare
CIVB Civista Bancshares, Inc.	$558.0M	9.9×	9.4×	+4.29% (above 0%: growing)	−2.82% (below 0%: shrinking)	+44.49% (above 0%: growing)	72.61%	0.00%	Compare
NRIM Northrim BanCorp Inc	$543.4M	7.6×	9.5×	+3.99% (above 0%: growing)	+29.58% (above 0%: growing)	+934.70% (above 0%: growing)	84.32%	0.00%	Compare
Median of peers	$564.7M	10.7×	9.5×	+4.14%	+10.91%	+55.26%	65.66%	0.00%

All 323 Banks Regional stocks →

Bridgewater Bancshares, Inc. (BWB) key facts

Strength: Bridgewater Bancshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $292.8 million, up 15.6% from fiscal 2024.
Bridgewater Bancshares, Inc. (BWB) is a Banks Regional company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, BWB traded at $20.58, a market capitalization of $568.0 million.
Return on equity was 9.98% and debt-to-equity 0.79.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.