BFCNasdaqNational Commercial BanksFiscal year ends December 31
Bank First Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$146.01−1.69 (-1.14%)
Close on Oct 19, 2026
- Market cap
- $1.62B
- P/E (TTM)
- 19.0
- Dividend yield
- 3.63%
Margins
Share of revenue, fiscal years 2015 to 2025
Net margin
41.1%+5.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.4% | +12.0% | +10.5% | – | |
| Net income | +9.0% | +16.5% | +13.4% | – | |
| EPS, diluted | +11.2% | +9.0% | +7.4% | – | |
| Free cash flow | -12.9% | +15.5% | +7.5% | – | |
| Dividend per share | +241.9% | +78.0% | +45.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.1% | 14.5% | 11.1% | |
| Return on assets | – | 1.5% | 1.6% | |
| Capex to revenue | 2.6% | 7.9% | 6.6% | |
| Diluted shares | 6M | 7M | 10M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Bank First generated $261.57M from operations and spent $134.35M on capital expenditure, dividends and share buybacks. 36% of that went back into the business.
Generated
$261.57M
Used
$134.35M
Capital expenditure$47.74M36%Dividends$00%Share buybacks$86.60M64%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin41.1%
×Asset turnover0.04×
×Equity multiplier7.01×
=Return on equity, FY202511.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 41.1% | 0.04× | 7.01× | 11.1% |
| FY2024 | 41.6% | 0.04× | 6.92× | 10.4% |
| FY2023 | 38.9% | 0.05× | 7.35× | 13.9% |
| FY2022 | 36.5% | 0.04× | 8.51× | 11.7% |
| FY2021 | 40.0% | 0.04× | 9.16× | 14.7% |
| FY2020 | 36.0% | 0.04× | 9.39× | 14.5% |
| FY2019 | 32.4% | 0.04× | 9.90× | 13.2% |
| FY2018 | 34.1% | 0.04× | 10.55× | 15.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$71.50M
- Cash generatingOperating cash flow above zero$62.48M
- Return on assets improvedROA up on the prior year1.6% → 1.6%
- Earnings backed by cashOperating cash flow above net income$62.48M vs $71.50M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise10M → 10M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.04 → 0.04