BWBNasdaqState Commercial BanksFiscal year ends December 31Also trades as BWBBP
Bridgewater Bancshares Inc
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$20.33−0.27 (-1.31%)
Close on Oct 19, 2026
- Market cap
- $581.22M
- P/E (TTM)
- 11.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Net margin
32.2%+3.2 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 | +30.8% | +1.8% | +8.9% | – | |
| Net income | +40.4% | -4.8% | +11.1% | – | |
| EPS, diluted | +44.7% | -4.7% | +9.9% | – | |
| Free cash flow | -48.1% | -35.9% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 13.5% | 10.7% | 9.5% | |
| Return on assets | – | 1.0% | 0.9% | |
| Capex to revenue | 4.9% | 26.3% | 4.1% | |
| Diluted shares | 23M | 29M | 28M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Bridgewater Bancshares generated $243.44M from operations and spent $40.31M on capital expenditure, dividends and share buybacks. 38% of that went back into the business.
Generated
$243.44M
Used
$40.31M
Capital expenditure$15.31M38%Dividends$00%Share buybacks$25.01M62%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin32.2%
×Asset turnover0.03×
×Equity multiplier10.74×
=Return on equity, FY20259.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 32.2% | 0.03× | 10.74× | 9.5% |
| FY2024 | 30.0% | 0.02× | 10.96× | 7.4% |
| FY2023 | 35.8% | 0.02× | 10.93× | 9.8% |
| FY2022 | 39.3% | 0.03× | 10.12× | 13.8% |
| FY2021 | 39.8% | 0.04× | 9.94× | 14.2% |
| FY2020 | 29.0% | 0.04× | 10.18× | 10.7% |
| FY2019 | 40.3% | 0.04× | 9.11× | 13.5% |
| FY2018 | 40.0% | 0.04× | 10.02× | 15.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$46.09M
- Cash generatingOperating cash flow above zero$27.81M
- Return on assets improvedROA up on the prior year0.7% → 0.9%
- Earnings backed by cashOperating cash flow above net income$27.81M vs $46.09M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise28M → 28M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.02 → 0.03