For the twelve months ended Sep 30, 2026, Arrow Financial Corporation reported $44.16M of net income.
AROW net income was $5.70M in fiscal Q3 2026 (ended Sep 30, 2026), down 55.6% from a year earlier and down 48.0% from the prior quarter. For the full fiscal 2025 it was $43.95M, up 47.9% from fiscal 2024. Compound annual growth was +1.5% over 5 years and +5.9% over 10 years. It rose in 7 of the last 10 fiscal years.
AROW diluted EPS was $0.31 in fiscal Q3 2026 (ended Sep 30, 2026), down 59.7% from a year earlier and down 53.0% from the prior quarter. For the full fiscal 2025 it was $2.65, up 49.7% from fiscal 2024. Compound annual growth was +1.3% over 5 years and +3.9% over 10 years.
AROW free cash flow was $18.76M in fiscal Q3 2026 (ended Sep 30, 2026), up 31.3% from a year earlier and up 61.9% from the prior quarter. For the full fiscal 2025 it was $36.19M, up 25.3% from fiscal 2024. Compound annual growth was -0.5% over 5 years and +2.9% over 10 years. It rose in 7 of the last 10 fiscal years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | $133.95M | $149.24M | $142.72M | $131.86M | $116.60M | $112.97M | $105.30M | $99.39M |
| Interest expense | $76.98M | $83.26M | $57.73M | $11.31M | $5.20M | $12.69M | $21.71M | $12.48M | $7.01M | $5.36M |
| Income tax | $11.44M | $7.65M | $7.45M | $14.11M | $14.55M | $11.04M | $9.60M | $9.03M | $10.53M | $11.21M |
| Net income | $43.95M | $29.71M | $30.07M | $48.80M | $49.86M | $40.83M | $37.48M | $36.28M | $29.33M | $26.53M |
| EPS, basic | $2.65 | $1.77 | $1.77 | $2.86 | $2.93 | $2.49 | $2.36 | $2.37 | $1.99 | $1.87 |
| EPS, diluted | $2.65 | $1.77 | $1.77 | $2.86 | $2.92 | $2.49 | $2.36 | $2.36 | $1.98 | $1.86 |
| Diluted shares | 16.5M | 16.7M | 17.0M | 17.1M | 17.1M | 16.4M | 15.9M | 15.4M | 14.8M | 14.3M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $214.18M | $154.55M | $142.54M | $64.66M | $457.70M | $380.99M | $70.22M | $84.24M | $72.84M | $57.35M |
| Goodwill | $23.79M | $23.79M | $21.87M | $21.87M | $21.87M | $21.87M | $21.87M | $21.87M | $21.87M | $21.87M |
| Total assets | $4.45B | $4.31B | $4.17B | $3.97B | $4.03B | $3.69B | $3.18B | $2.99B | $2.76B | $2.61B |
| Short-term debt | $4.26M | $8.60M | $26.50M | $54.80M | $0 | $17.49M | $181.10M | $288.66M | $169.97M | $158.84M |
| Total debt | $4.26M | $8.60M | $6.50M | $27.80M | $45.00M | $45.00M | $30.00M | $45.00M | $55.00M | $55.00M |
| Total liabilities | $4.01B | $3.91B | $3.79B | $3.62B | $3.66B | $3.35B | $2.88B | $2.72B | $2.51B | $2.37B |
| Shareholders' equity | $431.85M | $400.90M | $379.77M | $353.54M | $371.19M | $334.39M | $301.73M | $269.58M | $249.60M | $232.85M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $41.28M | $34.47M | $20.58M | $59.71M | $68.21M | $42.31M | $43.94M | $41.98M | $37.83M | $34.70M |
| Capital expenditures | $5.09M | $5.60M | $7.08M | $14.25M | $7.14M | $5.13M | $7.79M | $5.10M | $2.60M | $1.44M |
| Free cash flow | $36.19M | $28.87M | $13.50M | $45.46M | $61.07M | $37.18M | $36.16M | $36.87M | $35.23M | $33.25M |
| Investing cash flow | -$61.45M | -$88.95M | -$82.65M | -$393.06M | -$274.60M | -$187.32M | -$192.23M | -$227.77M | -$148.57M | -$157.79M |
| Financing cash flow | $79.81M | $66.49M | $139.95M | -$59.69M | $283.10M | $455.77M | $134.27M | $197.19M | $126.22M | $129.38M |
| Dividends paid | - | - | - | $17.44M | $16.30M | $15.74M | $15.21M | $14.39M | $13.60M | $13.09M |
| Share repurchases | $10.24M | $6.79M | $3.61M | $2.87M | $2.66M | $1.58M | $2.47M | $2.10M | $3.25M | $2.14M |
| Stock-based compensation | $683.0K | $314.0K | $605.0K | $451.0K | $414.0K | $301.0K | $316.0K | $322.0K | $351.0K | $287.0K |
| Depreciation and amortization | $5.42M | $5.36M | $6.72M | $7.55M | $7.83M | $6.87M | $5.50M | $4.75M | $5.40M | $5.94M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | -10.2% | 4.6% | 8.2% | 13.1% | 3.2% | 7.3% | 5.9% | 5.7% |
| Net income growth, YoY | 47.9% | -1.2% | -38.4% | -2.1% | 22.1% | 8.9% | 3.3% | 23.7% | 10.5% | 7.6% |
| EPS growth, YoY | 49.7% | 0.0% | -38.1% | -2.1% | 17.3% | 5.5% | 0.0% | 19.2% | 6.5% | 3.3% |
| Net margin | - | - | 22.5% | 32.7% | 34.9% | 31.0% | 32.1% | 32.1% | 27.9% | 26.7% |
| Free cash flow margin | - | - | 10.1% | 30.5% | 42.8% | 28.2% | 31.0% | 32.6% | 33.5% | 33.5% |
| Return on equity | 10.2% | 7.4% | 7.9% | 13.8% | 13.4% | 12.2% | 12.4% | 13.5% | 11.7% | 11.4% |
| Return on assets | 1.0% | 0.7% | 0.7% | 1.2% | 1.2% | 1.1% | 1.2% | 1.2% | 1.1% | 1.0% |
| Debt to equity | 0.01 | 0.02 | 0.02 | 0.08 | 0.12 | 0.13 | 0.10 | 0.17 | 0.22 | 0.24 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | $35.01M | $34.31M | $33.10M |
| Interest expense | $19.34M | $17.69M | $17.66M | $19.47M | $19.47M | $19.04M | $19.01M | $21.21M | $21.00M | $20.82M | $20.22M | $18.71M |
| Income tax | $1.15M | $2.93M | $3.86M | $2.75M | $3.77M | $3.09M | $1.82M | $752.0K | $2.56M | $2.31M | $2.02M | $1.66M |
| Net income | $5.70M | $10.96M | $13.48M | $14.01M | $12.82M | $10.80M | $6.31M | $4.47M | $8.97M | $8.60M | $7.66M | $7.72M |
| EPS, basic | $0.31 | $0.66 | $0.82 | $0.85 | $0.77 | $0.65 | $0.38 | $0.26 | $0.54 | $0.52 | $0.45 | $0.46 |
| EPS, diluted | $0.31 | $0.66 | $0.82 | $0.85 | $0.77 | $0.65 | $0.38 | $0.27 | $0.53 | $0.52 | $0.45 | $0.46 |
| Diluted shares | 18.5M | 16.5M | 16.4M | - | 16.4M | 16.6M | 16.7M | - | 16.7M | 16.7M | 16.9M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $378.77M | $186.79M | $285.61M | $214.18M | $397.44M | $268.45M | $301.45M | $154.55M | $340.09M | $200.20M | $282.46M | $142.54M |
| Goodwill | $69.81M | $23.79M | $23.79M | $23.79M | $23.79M | $23.79M | $23.79M | $23.79M | $23.79M | $21.87M | $21.87M | $21.87M |
| Total assets | $5.55B | $4.48B | $4.52B | $4.45B | $4.59B | $4.41B | $4.45B | $4.31B | $4.41B | $4.24B | $4.33B | $4.17B |
| Short-term debt | $185.19M | $310.19M | $4.26M | $4.26M | $4.26M | $8.60M | - | $8.60M | - | - | - | $26.50M |
| Total debt | - | - | - | $4.26M | - | - | - | $8.60M | - | - | - | $6.50M |
| Total liabilities | $5.03B | $4.04B | $4.08B | $4.01B | $4.17B | $4.01B | $4.04B | $3.91B | $4.02B | $3.86B | $3.96B | $3.79B |
| Shareholders' equity | $515.09M | $446.31M | $440.14M | $431.85M | $417.69M | $408.51M | $404.41M | $400.90M | $393.31M | $383.02M | $377.99M | $379.77M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $21.00M | $15.79M | $15.24M | $5.91M | $15.02M | $10.28M | $10.07M | $5.63M | $9.42M | $9.08M | $10.35M | -$16.32M |
| Capital expenditures | $2.24M | $4.21M | $1.30M | $1.07M | $739.0K | $2.00M | $1.27M | $1.51M | $1.36M | $1.56M | $1.16M | $607.0K |
| Free cash flow | $18.76M | $11.59M | $13.94M | $4.83M | $14.28M | $8.28M | $8.80M | $4.11M | $8.05M | $7.51M | $9.19M | -$16.93M |
| Investing cash flow | $143.23M | -$57.16M | -$15.11M | -$23.42M | -$49.68M | $6.56M | $5.08M | -$90.12M | $32.70M | $6.16M | -$37.69M | -$1.83M |
| Financing cash flow | $27.75M | -$57.45M | $71.29M | -$165.75M | $163.65M | -$49.84M | $131.75M | -$101.04M | $97.77M | -$97.51M | $167.27M | -$134.06M |
| Share repurchases | $1.04M | $370.0K | $113.0K | $154.0K | $1.43M | $5.17M | $3.48M | $265.0K | $54.0K | $510.0K | $5.96M | $2.76M |
| Stock-based compensation | $292.0K | $323.0K | $228.0K | $136.0K | $125.0K | $297.0K | $125.0K | $87.0K | $63.0K | $81.0K | $83.0K | $88.0K |
| Depreciation and amortization | $942.0K | $1.33M | $1.25M | $1.29M | $1.51M | $1.41M | $1.21M | $1.35M | $1.36M | $1.25M | $1.39M | $1.76M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | - | - | - | - | - | 7.1% | -1.3% | -12.3% |
| Net income growth, YoY | -55.6% | 1.5% | 113.7% | 213.5% | 42.9% | 25.6% | -17.6% | -42.1% | 15.9% | 42.3% | -10.5% | -36.1% |
| EPS growth, YoY | -59.7% | 1.5% | 115.8% | 214.8% | 45.3% | 25.0% | -15.6% | -41.3% | 15.2% | 48.6% | -10.0% | -30.3% |
| Net margin | - | - | - | - | - | - | - | - | - | 24.6% | 22.3% | 23.3% |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | 21.5% | 26.8% | -51.1% |
| Debt to equity | - | - | - | 0.01 | - | - | - | 0.02 | - | - | - | 0.02 |
Source: XBRL data Arrow Financial Corporation files with the SEC, latest filing dated Nov 9, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| AROW | - | - | $44.16M | - | $724.5M |
| JPM | $203.15B | +13.2% | $65.98B | 32.5% | $908.43B |
| BAC | $120.16B | +5.4% | $32.24B | 26.8% | $348.81B |
| WFC | $87.23B | +5.4% | $22.97B | 26.3% | $256.63B |
| C | $85.22B | +5.6% | $14.31B | 16.8% | $201.89B |
| UBS | $49.57B | +2.0% | $7.80B | 15.7% | $151.93B |
| MFG | ¥8.79T | +7.6% | ¥1.16T | 13.2% | $122.19B |
| COF | $63.01B | +31.2% | $10.87B | 17.2% | $119.45B |
| BNS | C$37.74B | +12.1% | C$7.79B | 20.6% | $114.51B |