AROWNasdaqNational Commercial BanksFiscal year ends December 31
ARROW FINANCIAL CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$36.84−0.01 (-0.03%)
Close on Oct 19, 2026
- Market cap
- $606.64M
- P/E (TTM)
- 11.9
- Dividend yield
- 3.09%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Net income | +47.9% | -3.4% | +1.5% | +5.9% | |
| EPS, diluted | +49.7% | -2.5% | +1.3% | +3.9% | |
| Free cash flow | +25.3% | -7.3% | -0.5% | +2.9% | |
| Dividend per share | +4.6% | +3.4% | +3.5% | +2.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.9% | 12.8% | 10.6% | |
| Return on assets | 1.1% | 1.2% | 1.0% | |
| Capex to revenue | 1.4% | 3.9% | – | |
| Diluted shares | 14M | 16M | 17M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Arrow Financial generated $224.25M from operations and spent $99.07M on capital expenditure, dividends and share buybacks. 40% of that went back into the business.
Generated
$224.25M
Used
$99.07M
Capital expenditure$39.15M40%Dividends$33.74M34%Share buybacks$26.17M26%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin22.5%
×Asset turnover0.03×
×Equity multiplier11.10×
=Return on equity, FY20238.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | 22.5% | 0.03× | 11.10× | 8.2% |
| FY2022 | 32.7% | 0.04× | 11.04× | 13.5% |
| FY2021 | 34.9% | 0.04× | 10.94× | 14.1% |
| FY2020 | 31.0% | 0.04× | 10.80× | 12.8% |
| FY2019 | 32.1% | 0.04× | 10.80× | 13.1% |
| FY2018 | 32.1% | 0.04× | 11.07× | 14.0% |
| FY2017 | 27.9% | 0.04× | 11.12× | 12.2% |
| FY2016 | 26.7% | 0.04× | 11.31× | 11.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$43.95M
- Cash generatingOperating cash flow above zero$41.28M
- Return on assets improvedROA up on the prior year0.7% → 1.0%
- Earnings backed by cashOperating cash flow above net income$41.28M vs $43.95M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise17M → 17M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose– → –