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Bankwell Financial Group, Inc.

BWFG Financial Banks Regional

Bankwell Financial Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $207.7 million, up 6.13% from fiscal 2024.

Revenue
+10.7%
EPS
+25.0%
Free cash flow
+23.2%
Total debt
+34.7%

Quarter to September 2026, against a year earlier

70.22 0.01 −0.01%
Market cap
$559.9M
P/E
12.2×
Fwd P/E
11.6×
Dividend yield
1.14%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 4.41
Sold, $m 1.81
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 5 — 3 9 — 2 6 — 2 5 — —
Sell — — 8 — — 1 1 2 — — — —
Insider Ownership 25.81%

Capital & Financial Ratios $m

Size
Market Cap 559.88
Revenue ttm 222.16
Net income ttm 45.53
Free cash flow ttm 36.80
Net debt Q (60.67)
Valuation
P/E 12.23
Forward P/E 11.60
Price / sales 2.48
Forward P/S Powerpack
Price / FCF 14.97
Price / book 1.65
Financial health
Current ratio Q 0.00
Debt / equity Q 0.58
Interest coverage Q —
Growth
Revenue growth Q +10.72% (above 0%: growing)
Operating income growth Q +24.38% (above 0%: growing)
EPS, this year +45.54% (at or above 15%: strong)
EPS, next year A +2.16%
Revenue, next year A −35.30% (below 0%: weak)
EPS, past 5 yrs +42.78% (at or above 15%: strong)
EPS, next 5 yrs A +15.56% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 42.02%
10-year low 10-year high
P/S against its own 10 years 51.08%
10-year low 10-year high
P/B against its own 10 years 94.35%
10-year low 10-year high

Dividends

Yield
1.14%
Annual rate
0.80
Payout ratio
14.1%
Growth, 2017–25
+14.0%/yr
  1. 0.28 ’17
  2. 0.48 ’18 +71
  3. 0.52 ’19 +8
  4. 0.56 ’20 +8
  5. 0.64 ’21 +14
  6. 0.80 ’22 +25
  7. 0.80 ’23 +0
  8. 0.80 ’24 +0
  9. 0.80 ’25 +0
  10. 0.80 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 269 308 225 256
Receivables — — — —
Inventory — — — —
Other — — — —
2,969 2,995 3,046 —
2023 2024 2025 Q'26
Payables 2,737 2,788 2,829 2,968
ST’ Debt — — — —
Other — — — —
2,791 2,839 2,879 3,026

Compound Annual Growth %

10y 5y 3y
Sales 14.37% 20.91% 19.74%
Cash Flow 7.96% 0.00% (30.07%)
Earnings 14.90% 43.03% (1.69%)
Book Value 8.63% 11.29% 8.13%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.41 Actual 1.58

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.20 1.15 Miss by 0.05
Q1 FY26 1.23 1.41 Beat by 0.18
Q2 FY26 1.25 1.52 Beat by 0.27
Q3 FY26 1.41 1.58 Beat by 0.17
Q4 FY26 1.36 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.41 1.52 1.58 — —
’25 0.87 1.15 1.27 1.15 4.45
’24 0.48 0.14 0.24 0.32 1.17
’23 1.33 1.02 1.25 1.09 4.67
’22 1.04 1.55 1.18 1.04 4.79
’21 0.71 0.79 0.87 0.99 3.36
’20 0.17 0.16 0.38 0.04 0.75
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 54 56 59 — —
’25 50 51 53 54 208
’24 49 48 49 49 196
’23 46 48 49 51 193
’22 23 28 30 40 121
’21 21 22 22 23 87
’20 21 20 20 20 80
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 8 10 13 — —
’25 4 6 10 8 28
’24 9 7 (1) 14 30
’23 7 13 13 (1) 32
’22 22 25 18 18 83
’21 17 2 12 4 35
’20 (17) 4 4 7 (2)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 7 10 12 — —
’25 4 6 10 7 27
’24 9 7 (1) 14 29
’23 6 12 13 (1) 30
’22 21 22 18 17 78
’21 14 0 12 13 39
’20 (17) 4 4 11 2
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

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 64 76 84 88 80 87 121 193 196 208 222 +14.0% 134 146 153 (9.7%)
Gross margin, % 81.31 77.80 71.73 66.91 71.82 84.50 80.82 51.38 44.45 52.15 57.91 (29.2) pt
EBT 18 25 21 23 7 34 48 48 13 48 62 +11.4%
EBT margin, % 28.76 33.14 25.19 26.01 9.08 38.91 39.66 24.85 6.81 23.35 27.76 (5.4) pt
Net income 12 14 17 18 6 27 37 37 10 35 46 +12.3%
Per share, $
Per share, $ Revenue 8.61 10.01 10.87 11.37 10.40 11.29 16.00 25.47 25.38 26.80 28.27 +13.5%
Earnings 1.64 1.80 2.23 2.32 0.75 3.38 4.84 4.71 1.18 4.49 5.73 +11.8%
Cash flow 2.35 2.72 2.59 0.85 (0.20) 4.48 10.93 4.21 3.88 3.65 4.89 +5.0%
Capex (1.14) (0.25) (0.43) (0.08) 0.43 0.55 (0.66) (0.27) (0.08) (0.15) (0.21) (20.3%)
Free cash flow 1.21 2.47 2.15 0.77 0.24 5.04 10.27 3.94 3.80 3.50 4.68 +12.5%
Book value 19.73 21.27 22.56 23.51 22.85 26.21 31.53 35.02 35.09 38.90 42.52 +7.8%
Shares, m 7 8 8 8 8 8 8 8 8 8 8 +0.5%
Valuation, ×
Valuation, × P/E 19.54 18.73 12.87 12.43 26.07 9.69 5.88 6.23 26.40 10.23 12.23 14.8
P/S 3.72 3.37 2.64 2.54 1.88 2.91 1.78 1.15 1.23 1.71 2.48 2.3
P/B 1.62 1.59 1.27 1.23 0.86 1.25 0.90 0.84 0.89 1.18 1.65 1.2
EV/Sales 5.12 5.39 3.92 3.64 (0.72) (0.08) 0.15 0.58 0.47 1.49 — 2.0
EV/FCF 36.31 21.85 19.77 53.60 (31.92) (0.18) 0.24 3.75 3.14 11.42 — 11.8
Cash, $m
Cash, $m Operating cash flow 17 21 20 7 (2) 35 83 32 30 28 38 +5.6%
Capex (8) (2) (3) (1) 3 4 (5) (2) (1) (1) (2) (19.9%)
Free cash flow 9 19 17 6 2 39 78 30 29 27 37 +13.1%
Balance, $m
Balance, $m Working capital 147 186 157 148 141 58 160 179 157 167 (3,026) +1.4%
Net debt 89 153 107 97 (209) (260) (197) (110) (148) (45) (61) n/m
Shareholders’ equity 146 161 174 182 177 202 238 266 271 301 334 +8.4%
Returns, %
Returns, % ROA 0.82 0.80 0.94 0.96 0.28 1.11 1.28 1.10 0.29 1.05 1.32 +0.2 pt
ROIC 4.88 5.00 4.70 5.13 0.00 0.00 71.83 19.27 6.80 11.83 14.09 +7.0 pt
ROE 8.72 8.90 10.26 10.10 3.24 13.78 16.63 14.16 3.55 12.16 14.31 +3.4 pt
People
People Employees 127 141 144 157 125 124 136 126 144 167 — +3.1%
Revenue/emp, $m 0.50 0.54 0.58 0.56 0.64 0.70 0.89 1.53 1.36 1.24 — +10.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

Bankwell Financial Group, Inc. 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
KRNY Kearny Financial $586.3M 15.6× 12.1× +1.22% (above 0%: growing) +6.67% (above 0%: growing) +147.69% (above 0%: growing) 50.63% 0.00% Compare
CIVB Civista Bancshares, Inc. $583.3M 10.1× 9.6× +4.29% (above 0%: growing) +13.24% (above 0%: growing) +57.62% (above 0%: growing) 72.61% 0.00% Compare
UNTY Unity Bancorp, Inc. $580.2M 9.4× 9.5× +10.61% (above 0%: growing) +20.98% (above 0%: growing) +8.49% (above 0%: growing) 70.01% 0.00% Compare
BWB Bridgewater Bancshares, Inc. $567.9M 9.9× 10.2× +4.66% (above 0%: growing) +41.63% (above 0%: growing) +433.13% (above 0%: growing) 54.57% 0.00% Compare
SFST Southern First Bancshares, Inc. $561.9M 12.0× 11.9× +8.16% (above 0%: growing) +20.37% (above 0%: growing) +41.79% (above 0%: growing) 59.23% 0.00% Compare
BWFG Bankwell Financial Group, Inc. $559.9M 12.2× 11.6× +10.72% (above 0%: growing) +25.00% (above 0%: growing) +23.23% (above 0%: growing) 60.10% 0.00%
BSVN Bank7 Corp. $556.7M 13.2× 16.2× −7.40% (below 0%: shrinking) −25.42% (below 0%: shrinking) +20.62% (above 0%: growing) 71.74% 0.00% Compare
COFS ChoiceOne Financial Services, Inc. $548.6M 10.1× 9.9× −2.56% (below 0%: shrinking) −7.78% (below 0%: shrinking) +165.17% (above 0%: growing) 70.71% 0.00% Compare
CBAN Colony Bankcorp, Inc. $546.8M 12.1× 12.0× +23.45% (above 0%: growing) +10.87% (above 0%: growing) −48.88% (below 0%: shrinking) 72.54% 0.00% Compare
Median of peers $564.9M 11.0× 11.1× +4.48% +12.05% +49.71% 70.36% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 7 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.34m 2.13m 167.00
2024 1.00m 1.16m 103.00
2023 1.46m 1.50m 166.00

Ownership

Directors and executive officers, together 20.98%
Lawrence B. Seidman 10.61%
Blackrock, Inc. 5.14%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Bankwell Financial Group, Inc. (BWFG) Latest News

30 Oct

Impact 3 · · The Motley Fool

29 Oct

Impact 4 · · The Motley Fool transcript
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20 Oct

Impact 4 · · Business Wire

11 Sep

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11 Aug

Impact 4 · · The Motley Fool

24 Jul

Impact 3 · · Moby transcript

23 Jul

Impact 3 · transcript
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28 Apr

Impact 3 · · Simply Wall St.

26 Apr

Impact 3 · · Simply Wall St.

24 Apr

Impact 4 · · GuruFocus.com

23 Apr

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

22 Apr

Impact 4 · · Zacks
Impact 4 · · Business Wire

23 Feb

Impact 4 · · Business Wire

13 Feb

Impact 4 · · Simply Wall St.

1 Feb

Impact 3 · · Simply Wall St.

30 Jan

Impact 4 · · GuruFocus.com transcript

29 Jan

Impact 4 · · MarketBeat transcript
Impact 4 · · The Motley Fool transcript
Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.
Impact 3 · · Zacks
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19 Dec

Impact 4 · · Simply Wall St.
stockrow.com/BWFG · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com