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Norwood Financial Corp.

NWFL Financial Banks Regional

Norwood Financial Corp.’s revenue for fiscal 2025 (year ended December 2025) was $136.1 million, up 34.2% from fiscal 2024.

Revenue
+28.5%
EPS
+28.4%
Free cash flow
+65.6%
Total debt
−23.2%

Quarter to June 2026, against a year earlier

35.96 0.63 −1.72%
Market cap
$391.5M
P/E
12.4×
Fwd P/E
11.5×
Dividend yield
3.56%
F-score
8/9
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 0.48
Sold, $m 0.10
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 4 — — 3 4 — 1 — — — —
Sell — — — — — — — — — 1 — —
Insider Ownership 8.81%

Capital & Financial Ratios $m

Size
Market Cap 391.51
Revenue ttm 154.34
Net income ttm 28.84
Free cash flow ttm 29.95
Net debt Q 5.22
Valuation
P/E 12.40
Forward P/E 11.50
Price / sales 2.52
Forward P/S Powerpack
Price / FCF 13.01
Price / book 1.35
Financial health
Current ratio Q 0.91
Debt / equity Q 0.23
Interest coverage Q —
Growth
Revenue growth Q +28.48% (above 0%: growing)
Operating income growth Q +49.16% (above 0%: growing)
EPS, this year +14.47%
EPS, next year A +10.25%
Revenue, next year A −14.14% (below 0%: weak)
EPS, past 5 yrs +7.57%
EPS, next 5 yrs A +10.93%

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 31.94%
10-year low 10-year high
P/B against its own 10 years 64.98%
10-year low 10-year high

Dividends raised every year since 2018

Yield
3.56%
Annual rate
1.28
Payout ratio
44.1%
Growth, 2018–26
+4.80%/yr
  1. 0.88 ’18
  2. 0.96 ’19 +9
  3. 1.00 ’20 +4
  4. 1.04 ’21 +4
  5. 1.12 ’22 +8
  6. 1.16 ’23 +4
  7. 1.20 ’24 +3
  8. 1.24 ’25 +3
  9. 1.28 ’26 +3
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 66 72 44 60
Receivables — — — —
Inventory — — — —
Other — — — —
1,659 1,775 1,887 2,308
2023 2024 2025 Q'26
Payables 1,795 1,859 2,079 2,514
ST’ Debt — — — —
Other — — — —
1,880 1,985 2,105 2,523

Compound Annual Growth %

10y 5y 3y
Sales 15.41% 15.50% 16.73%
Cash Flow 12.46% 19.74% 3.39%
Earnings 16.73% 12.98% (1.71%)
Book Value 9.14% 4.45% 13.17%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.95 Actual 1.08

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.85 0.84 Miss by 0.01
Q1 FY26 0.81 0.72 Miss by 0.09
Q2 FY26 0.87 0.86 Miss by 0.01
Q3 FY26 0.95 1.08 Beat by 0.13
Q4 FY26 0.95 — Reports 28 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.35 0.86 — — —
’25 0.63 0.67 0.89 0.80 3.01
’24 0.55 0.52 0.48 (1.54) (0.02)
’23 0.71 0.81 0.51 0.04 2.07
’22 0.87 0.84 1.00 0.88 3.58
’21 0.67 0.70 0.85 0.81 3.04
’20 0.49 0.24 0.62 0.67 2.09
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 41 43 — — —
’25 32 33 35 36 136
’24 29 30 31 12 101
’23 24 25 27 28 104
’22 21 21 22 22 86
’21 19 20 21 20 79
’20 14 13 19 20 66
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 6 9 — — —
’25 9 7 9 9 34
’24 4 9 5 5 23
’23 10 6 7 7 30
’22 9 6 9 6 31
’21 8 7 8 6 29
’20 5 (4) 8 5 14
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 6 8 — — —
’25 8 5 8 8 29
’24 4 9 4 3 20
’23 10 4 9 6 29
’22 11 6 8 5 30
’21 7 7 8 6 28
’20 5 (4) 8 5 14
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
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 37 46 50 54 66 79 86 104 101 136 154 +15.4% 117 125 135 (0.3%)
Gross margin, % 90.24 91.11 88.59 83.95 87.95 92.75 91.51 67.71 50.32 64.59 66.77 (25.6) pt
EBT 9 15 16 17 18 31 36 21 0 35 36 +16.9%
EBT margin, % 22.97 32.13 32.70 31.12 27.73 38.85 42.51 20.40 (0.25) 25.72 23.55 +2.7 pt
Net income 7 8 14 14 15 25 29 17 0 28 29 +17.1%
Per share, $
Per share, $ Revenue 6.46 7.39 7.95 8.64 9.20 9.71 10.52 12.86 12.53 14.75 14.25 +9.6%
Earnings 1.16 1.32 2.19 2.27 2.09 3.05 3.59 2.08 (0.02) 3.01 2.90 +11.2%
Cash flow 1.96 2.58 2.78 2.95 1.92 3.57 3.78 3.70 2.82 3.68 3.05 +7.2%
Capex 0.03 0.36 (0.02) (0.13) (0.02) (0.10) (0.04) (0.09) (0.37) (0.51) (0.28) n/m
Free cash flow 1.99 2.94 2.76 2.81 1.90 3.47 3.74 3.61 2.45 3.17 2.76 +5.3%
Book value 19.17 18.64 19.62 21.95 27.04 25.10 20.53 22.46 26.38 26.23 26.73 +3.5%
Shares, m 6 6 6 6 7 8 8 8 8 9 10 +5.3%
Valuation, ×
Valuation, × P/E 18.31 24.98 15.07 17.21 12.96 8.55 9.25 15.30 2,721.00 9.38 12.40 285.2
P/S 3.29 4.46 4.15 4.50 2.85 2.68 3.16 2.46 2.17 1.90 2.52 3.2
P/B 1.11 1.77 1.68 1.77 0.97 1.04 1.62 1.41 1.03 1.07 1.35 1.3
EV/Sales 3.69 4.88 4.83 5.26 1.80 0.45 3.25 3.02 2.46 2.01 — 3.2
EV/FCF 11.94 12.26 12.36 16.15 8.72 1.26 9.15 10.78 12.62 9.37 — 10.5
Cash, $m
Cash, $m Operating cash flow 11 16 17 18 14 29 31 30 23 34 33 +12.9%
Capex 0 2 0 (1) 0 (1) 0 (1) (3) (5) (3) n/m
Free cash flow 12 18 17 18 14 28 30 29 20 29 30 +10.9%
Balance, $m
Balance, $m Working capital (231) (196) (138) (87) (85) (268) (328) (221) (210) (218) (215) (0.6%)
Net debt 15 19 34 41 (69) (177) 8 58 29 15 5 +0.1%
Shareholders’ equity 111 116 122 137 195 205 167 181 214 242 290 +9.0%
Returns, %
Returns, % ROA 0.72 0.73 1.18 1.18 0.98 1.27 1.42 0.79 (0.01) 1.17 1.09 +0.5 pt
ROIC 5.16 6.83 6.48 5.89 10.16 67.49 12.98 5.53 (0.07) 8.81 9.03 +3.7 pt
ROE 6.33 7.23 11.47 10.95 9.08 12.46 15.70 9.63 (0.08) 12.18 11.20 +5.9 pt
People
People Employees 215 214 210 220 265 266 276 265 271 281 — +3.0%
Revenue/emp, $m 0.17 0.21 0.24 0.25 0.25 0.30 0.31 0.39 0.37 0.48 — +12.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Norwood Financial Corp. 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
CZFS Citizens Financial Services Inc. $413.9M 9.6× 9.8× +8.19% (above 0%: growing) +18.66% (above 0%: growing) +84.04% (above 0%: growing) 66.14% 0.00% Compare
FNLC First Bancorp, Inc (ME) $412.9M 10.3× 10.2× +2.14% (above 0%: growing) +17.07% (above 0%: growing) −23.54% (below 0%: shrinking) 59.15% 0.00% Compare
FCBM FIRST CAROL FIN $410.1M — — — — — 60.28% 0.00% Compare
NECB Northeast Community Bancorp Inc. $399.2M 9.0× 11.9× −5.64% (below 0%: shrinking) −11.76% (below 0%: shrinking) −14.85% (below 0%: shrinking) 68.91% 0.00% Compare
FDBC Fidelity D&D Bancorp Inc. $395.8M 12.7× 22.8× +5.91% (above 0%: growing) +11.67% (above 0%: growing) +157.33% (above 0%: growing) 70.54% 0.00% Compare
NWFL Norwood Financial Corp. $391.5M 12.4× 11.5× +28.48% (above 0%: growing) +28.36% (above 0%: growing) +65.58% (above 0%: growing) 68.32% 0.00%
ISTR Investar Holding Corporation $383.0M 9.8× 9.7× +40.64% (above 0%: growing) +42.11% (above 0%: growing) +36.91% (above 0%: growing) 65.30% 0.00% Compare
PKBK Parke Bancorp, Inc. $382.0M 8.1× — +6.11% (above 0%: growing) +15.56% (above 0%: growing) +15.62% (above 0%: growing) 60.54% 0.00% Compare
AVBH Avidbank Holdings Inc. $375.0M — (loss-making) 10.1× +15.59% (above 0%: growing) −6.49% (below 0%: shrinking) +148.71% (above 0%: growing) 69.18% 0.00% Compare
Median of peers $397.5M 9.7× 10.1× +6.11% +15.56% +36.91% 65.72% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 25 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.01m 1.01m 95.92
2024 874.70k 645.17k 88.52
2023 816.44k 633.36k 102.42

Ownership

Directors and executive officers, together 8.10%
Wellington Management Group LLP. 8.20%
BlackRock, Inc. 5.20%
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

Norwood Financial Corp. (NWFL) Latest News

5 Nov

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9 May

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28 Apr

Impact 4 · · GuruFocus.com

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