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ChoiceOne Financial Services, Inc.

COFS Financial Banks Regional

ChoiceOne Financial Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $227.6 million, up 63.6% from fiscal 2024.

Revenue
−2.56%
EPS
−7.78%
Free cash flow
+165.2%
Total debt
+39.2%

Quarter to June 2026, against a year earlier

36.55 0.22 −0.60%
Market cap
$548.6M
P/E
10.1×
Fwd P/E
9.9×
Dividend yield
3.16%
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 0.26
Sold, $m 0.44
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 2 4 — — — — — — — —
Sell — — 1 — — — — — — — — —
Insider Ownership 7.17%

Capital & Financial Ratios $m

Size
Market Cap 548.56
Revenue ttm 240.29
Net income ttm 54.72
Free cash flow ttm 52.25
Net debt Q 254.85
Valuation
P/E 10.10
Forward P/E 9.87
Price / sales 2.29
Forward P/S Powerpack
Price / FCF 10.53
Price / book 1.14
Financial health
Current ratio Q 0.87
Debt / equity Q 0.71
Interest coverage Q —
Growth
Revenue growth Q −2.56% (below 0%: shrinking)
Operating income growth Q −10.69% (below 0%: shrinking)
EPS, this year +2.90%
EPS, next year A +1.41%
Revenue, next year A −23.21% (below 0%: weak)
EPS, past 5 yrs −0.59% (below 0%: weak)
EPS, next 5 yrs A +3.03%

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 36.85%
10-year low 10-year high
P/S against its own 10 years 40.15%
10-year low 10-year high
P/B against its own 10 years 80.60%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.16%
Annual rate
1.16
Payout ratio
32.0%
Growth, 2017–25
+7.37%/yr
  1. 0.64 ’17
  2. 0.71 ’18 +11
  3. 0.80 ’19 +12
  4. 0.82 ’20 +2
  5. 0.94 ’21 +15
  6. 1.01 ’22 +7
  7. 1.05 ’23 +4
  8. 1.09 ’24 +4
  9. 1.13 ’25 +4
  10. 1.17 ’26e +3
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 55 97 88 89
Receivables — — — —
Inventory — — — —
Other — — — —
1,455 1,633 3,082 3,130
2023 2024 2025 Q'26
Payables 2,122 2,214 3,600 3,602
ST’ Debt — — — —
Other — — — —
2,122 2,214 3,600 3,602

Compound Annual Growth %

10y 5y 3y
Sales 23.74% 23.76% 36.69%
Cash Flow 23.11% 30.28% (10.47%)
Earnings 17.24% 12.53% 6.03%
Book Value 20.88% 15.41% 40.20%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.93 Actual 1.05

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.91 0.92 Beat by 0.01
Q1 FY26 0.85 0.91 Beat by 0.06
Q2 FY26 0.88 0.93 Beat by 0.05
Q3 FY26 0.93 1.05 Beat by 0.12
Q4 FY26 0.93 — Reports 29 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.91 0.83 — — —
’25 (1.29) 0.90 0.97 0.92 2.01
’24 0.74 0.87 0.86 0.79 3.25
’23 0.75 0.69 0.68 0.70 2.82
’22 0.74 0.75 0.77 0.89 3.15
’21 0.80 0.65 0.75 0.66 2.86
’20 0.45 0.61 0.49 0.52 2.07
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 59 59 — — —
’25 45 60 62 60 228
’24 32 34 37 36 139
’23 25 27 30 32 114
’22 21 21 22 24 89
’21 21 20 21 21 84
’20 17 20 21 21 78
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 0 30 — — —
’25 (9) 12 15 14 32
’24 15 16 (7) 23 47
’23 9 16 32 (11) 46
’22 3 20 10 12 44
’21 2 15 12 8 38
’20 (2) (3) (15) 29 8
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) 28 — — —
’25 (10) 10 14 12 26
’24 15 15 (8) 23 46
’23 8 15 31 (12) 42
’22 2 19 9 12 43
’21 1 15 12 8 35
’20 (3) (3) (16) 28 7
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
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 Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 28 30 31 42 78 84 89 114 139 228 240 +26.1% 175 181 — (10.7%)
Gross margin, % 96.56 95.05 92.17 88.71 94.08 95.25 91.31 70.94 66.45 71.05 71.49 (25.5) pt
EBT 8 9 8 8 19 26 28 26 33 34 67 +17.1%
EBT margin, % 29.27 28.66 26.99 20.33 24.08 31.62 31.03 22.45 23.79 15.02 27.81 (14.3) pt
Net income 6 6 7 7 16 22 24 21 27 28 55 +18.6%
Per share, $
Per share, $ Revenue 7.78 8.24 8.70 9.19 10.42 10.91 11.88 15.12 17.03 16.33 16.06 +8.6%
Earnings 1.68 1.70 2.03 1.58 2.08 2.87 3.15 2.82 3.27 2.02 3.64 +2.1%
Cash flow 3.02 2.23 2.75 2.03 1.13 4.91 5.91 6.15 5.77 2.28 3.95 (3.0%)
Capex (0.50) (0.46) (1.16) (0.17) (0.25) (0.36) (0.16) (0.54) (0.17) (0.40) (0.46) (2.5%)
Free cash flow 2.51 1.78 1.59 1.86 0.88 4.55 5.75 5.61 5.60 1.88 3.49 (3.2%)
Book value 19.78 21.14 22.27 42.42 30.21 28.84 22.50 25.97 31.89 33.38 32.26 +6.0%
Shares, m 4 4 4 5 8 8 8 8 8 14 15 +16.1%
Valuation, ×
Valuation, × P/E 12.82 13.31 12.32 20.18 14.81 9.23 8.90 10.77 10.87 19.68 10.10 13.3
P/S 2.77 2.75 2.87 3.48 2.96 2.43 2.36 2.01 2.09 1.81 2.29 2.6
P/B 1.09 1.07 1.12 0.75 1.02 0.92 1.25 1.17 1.12 0.88 1.14 1.0
EV/Sales 2.68 2.19 2.41 2.84 2.10 3.06 2.82 3.59 2.91 2.80 — 2.7
EV/FCF 8.30 10.18 13.20 14.03 24.85 7.35 5.83 9.68 8.86 24.26 — 12.7
Cash, $m
Cash, $m Operating cash flow 11 8 10 9 8 38 44 46 47 32 59 +12.6%
Capex (2) (2) (4) (1) (2) (3) (1) (4) (1) (6) (7) +13.2%
Free cash flow 9 6 6 8 7 35 43 42 46 26 52 +12.5%
Balance, $m
Balance, $m Working capital (139) (114) (157) (294) (520) (1,002) (887) (667) (581) (518) (472) +15.8%
Net debt (3) (17) (14) (26) (67) 53 41 180 114 225 255 n/m
Shareholders’ equity 72 77 80 192 227 222 169 196 260 465 483 +23.1%
Returns, %
Returns, % ROA 1.04 0.98 1.11 0.70 0.94 1.03 0.99 0.86 1.01 0.79 1.25 (0.2) pt
ROIC 7.45 8.91 8.04 3.19 7.37 6.03 8.22 4.25 5.70 4.67 5.66 (2.8) pt
ROE 8.61 8.32 9.34 5.26 7.45 9.82 12.11 11.67 11.72 7.76 11.97 (0.8) pt
People
People Employees 160 173 174 339 359 386 402 389 392 598 — +15.8%
Revenue/emp, $m 0.18 0.17 0.18 0.12 0.22 0.22 0.22 0.29 0.35 0.38 — +8.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

ChoiceOne Financial Services, 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
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% Compare
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
NPB Northpointe Bancshares, Inc. $549.2M 6.8× 7.9× +11.60% (above 0%: growing) +17.31% (above 0%: growing) +105.45% (above 0%: growing) 49.88% 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%
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
BSRR Sierra Bancorp $544.1M 10.8× 10.9× −2.62% (below 0%: shrinking) +63.01% (above 0%: growing) +41.03% (above 0%: growing) 79.16% 0.00% Compare
NRIM Northrim BanCorp Inc $524.3M 9.4× 9.5× −9.44% (below 0%: shrinking) −47.97% (below 0%: shrinking) −115.99% (below 0%: shrinking) 85.30% 0.00% Compare
Median of peers $552.9M 11.4× 11.3× +6.41% +18.84% +32.13% 65.92% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 13 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.18m 983.78k 116.66
2024 888.39k 872.37k 135.60
2023 722.25k 715.36k 107.40

Ownership

Directors and executive officers, together 6.48%
Blackrock, Inc. 5.62% of the votes
The Vanguard Group Inc. 5.32% of the votes
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

ChoiceOne Financial Services, Inc. (COFS) Latest News

30 Oct

Impact 3 · · PR Newswire

24 Jul

Impact 3 ·
Impact 3 ·

14 Jul

Impact 3 ·

10 Jun

Impact 3 · · Zacks

24 Apr

Impact 4 · · Zacks
Impact 4 · · PR Newswire

30 Jan

Impact 4 · · Zacks
Impact 4 · · PR Newswire

28 Jan

Impact 3 · · Simply Wall St.

22 Jan

Impact 3 · · PR NewswireBanking DiveReutersMT NewswiresMT Newswires

3 Jan

Impact 4 · · Simply Wall St.

7 Dec

Impact 4 · · Simply Wall St.

4 Dec

Impact 3 · · Simply Wall St.

3 Dec

Impact 3 · · PR NewswireSimply Wall St.Insider MonkeySimply Wall St.Insider MonkeyInsider MonkeyInsider MonkeyBarchart

27 Oct

Impact 4 · · Simply Wall St.

24 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Zacks
Impact 4 · · PR Newswire

20 Oct

Impact 4 · · Simply Wall St.

17 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

26 Sep

Impact 3 · · Simply Wall St.

27 Aug

Impact 3 ·

26 Aug

Impact 4 · · Simply Wall St.

28 Jul

Impact 3 · · Simply Wall St.

27 Jul

Impact 4 · · Simply Wall St.

25 Jul

Impact 4 ·
Impact 3 · · Zacks

17 Jul

Impact 3 ·
stockrow.com/COFS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com