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Financials · BWB

Bridgewater Bancshares Inc. (BWB) financials

For the twelve months ended Sep 30, 2026, Bridgewater Bancshares Inc. reported $169.17M of revenue and $59.77M of net income.

Revenue, TTM
$169.17M
Revenue growth, YoY
+26.2%
Net income, TTM
$59.77M
Net income growth, YoY
+45.9%
Net margin
35.3%
Free cash flow, TTM
$73.46M
EPS, diluted, TTM
$1.94
EPS growth, YoY
+45.9%
Cash
$262.56M
P/E
9.50
P/S
3.36
Market cap
$568.1M
Annual revenue$143.35M
FY2016FY2025
Annual net income$46.09M
FY2016FY2025
Annual free cash flow$21.96M
FY2016FY2025

BWB revenue and earnings growth

BWB revenueQ3 2026$43.23M

Quarter YoY
+19.6%
QoQ
+5.7%
FY YoY
+30.8%
5Y CAGR
+8.9%

BWB revenue was $43.23M in fiscal Q3 2026 (ended Sep 30, 2026), up 19.6% from a year earlier and up 5.7% from the prior quarter. For the full fiscal 2025 it was $143.35M, up 30.8% from fiscal 2024. Compound annual growth was +8.9% over 5 years. It rose in 7 of the last 9 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

BWB net incomeQ3 2026$15.03M

Quarter YoY
+29.5%
QoQ
+7.3%
FY YoY
+40.4%
5Y CAGR
+11.1%

BWB net income was $15.03M in fiscal Q3 2026 (ended Sep 30, 2026), up 29.5% from a year earlier and up 7.3% from the prior quarter. For the full fiscal 2025 it was $46.09M, up 40.4% from fiscal 2024. Compound annual growth was +11.1% over 5 years. It rose in 6 of the last 9 fiscal years.

BWB EPSQ3 2026$0.49

Quarter YoY
+28.9%
QoQ
+8.9%
FY YoY
+44.7%
5Y CAGR
+9.9%

BWB diluted EPS was $0.49 in fiscal Q3 2026 (ended Sep 30, 2026), up 28.9% from a year earlier and up 8.9% from the prior quarter. For the full fiscal 2025 it was $1.49, up 44.7% from fiscal 2024. Compound annual growth was +9.9% over 5 years.

BWB free cash flowQ3 2026$45.54M

Quarter YoY
+433.1%
QoQ
+388.7%
FY YoY
-48.1%

BWB free cash flow was $45.54M in fiscal Q3 2026 (ended Sep 30, 2026), up 433.1% from a year earlier and up 388.7% from the prior quarter. For the full fiscal 2025 it was $21.96M, down 48.1% from fiscal 2024. It rose in 2 of the last 4 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$143.35M$109.56M$111.67M$136.03M$114.82M$93.80M$77.96M$67.28M$56.71M$44.69M
Interest expense--$117.18M$34.00M$19.37M$26.86M$29.65M$20.49M$12.17M-
Pre-tax income$60.03M$42.74M$52.52M$71.71M$61.57M$35.67M$38.33M$32.14M$27.04M$21.27M
Income tax$13.94M$9.91M$12.56M$18.32M$15.89M$8.47M$6.92M$5.22M$10.15M$8.05M
Net income$46.09M$32.83M$39.96M$53.39M$45.69M$27.19M$31.40M$26.92M$16.89M$13.21M
EPS, basic$1.53$1.05$1.29$1.78$1.59$0.95$1.07$0.93$0.69$0.59
EPS, diluted$1.49$1.03$1.27$1.72$1.54$0.93$1.05$0.91$0.68$0.58
Diluted shares28.2M27.9M28.3M28.7M29.0M29.2M30.0M29.4M25.0M22.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$123.51M$229.76M$128.56M$87.04M$143.47M$160.68M$31.93M$28.44M$23.73M$16.50M
Goodwill$11.98M$11.98M$2.63M$2.63M$2.63M$2.63M$2.63M$2.63M$2.63M-
Total assets$5.41B$5.07B$4.61B$4.35B$3.48B$2.93B$2.27B$1.97B$1.62B-
Total debt-$13.75M$13.75M$13.75M-$11.00M$13.00M$15.00M$17.00M-
Total liabilities$4.89B$4.61B$4.19B$3.95B$3.10B$2.66B$2.02B$1.75B$1.48B-
Shareholders' equity$517.10M$457.94M$425.51M$394.06M$379.27M$265.40M$244.79M$221.00M$137.16M$115.37M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$27.81M$46.38M$30.02M$85.00M$54.24M$23.02M$39.53M$29.41M$24.90M$14.93M
Capital expenditures$5.85M$4.08M$2.97M$1.63M$777.0K$24.69M$15.57M$3.72M$1.24M$2.19M
Free cash flow$21.96M$42.30M$27.05M$83.37M$53.46M-$1.67M$23.95M$25.69M$23.67M$12.74M
Investing cash flow-$417.47M-$95.24M-$209.18M-$938.24M-$571.42M-$530.33M-$276.21M-$354.24M-$350.18M-$266.10M
Financing cash flow$283.40M$150.06M$220.69M$796.81M$499.99M$636.05M$240.18M$329.55M$332.51M$254.09M
Share repurchases$2.19M$5.19M$4.54M$10.78M$2.30M$10.33M$14.96M--$192.0K
Stock-based compensation$4.20M$3.90M$3.95M$3.34M$2.43M$1.67M$752.0K$799.0K$368.0K$222.0K
Depreciation and amortization$2.47M$2.37M$2.51M$2.56M$2.37M$1.21M$1.01M$761.0K$694.0K$586.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY30.8%-1.9%-17.9%18.5%22.4%20.3%15.9%18.6%26.9%-
Net income growth, YoY40.4%-17.9%-25.2%16.9%68.0%-13.4%16.7%59.4%27.8%-
EPS growth, YoY44.7%-18.9%-26.2%11.7%65.6%-11.4%15.4%33.8%17.2%-
Net margin32.2%30.0%35.8%39.3%39.8%29.0%40.3%40.0%29.8%29.6%
Free cash flow margin15.3%38.6%24.2%61.3%46.6%-1.8%30.7%38.2%41.7%28.5%
Return on equity8.9%7.2%9.4%13.5%12.0%10.2%12.8%12.2%12.3%11.5%
Return on assets0.9%0.6%0.9%1.2%1.3%0.9%1.4%1.4%1.0%-
Debt to equity-0.030.030.03-0.040.050.070.12-

Source: XBRL data Bridgewater Bancshares Inc. files with the SEC, latest filing dated Oct 29, 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.

BWB peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
BWB$169.17M+26.2%$59.77M35.3%$568.1M
JPM$203.15B+13.2%$65.98B32.5%$888.26B
BAC$120.16B+5.4%$32.24B26.8%$340.97B
WFC$87.23B+5.4%$22.97B26.3%$251.98B
C$85.22B+5.6%$14.31B16.8%$199.70B
UBS$49.57B+2.0%$7.80B15.7%$148.27B
COF$63.01B+31.2%$10.87B17.2%$121.43B
MFG¥8.79T+7.6%¥1.16T13.2%$116.96B
BNSC$37.74B+12.1%C$7.79B20.6%$112.48B

BWB FAQ

8 questions
  • What is BWB revenue?
    Bridgewater Bancshares Inc. (BWB) reported $169.17M of revenue for the twelve months ended Sep 30, 2026. That is up 26.2% from the year before. Revenue for fiscal 2025 was $143.35M.
  • Is BWB profitable?
    Yes. Bridgewater Bancshares Inc. earned $59.77M in net income for the twelve months ended Sep 30, 2026, a net margin of 35.3%.
  • How much cash and debt does BWB have?
    Bridgewater Bancshares Inc. reported $262.56M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is BWB revenue growing?
    Bridgewater Bancshares Inc.'s revenue changed +30.8% in fiscal 2025, to $143.35M. Its compound annual growth rate was +8.9% over 5 years.
  • What is BWB free cash flow?
    Bridgewater Bancshares Inc. generated $73.46M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $78.90M less capital expenditures.
  • What is BWB earnings per share?
    Diluted earnings per share were $1.94 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did BWB last report financial results?
    The latest statements here come from Bridgewater Bancshares Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
  • Where does this BWB financial data come from?
    Quantisnow builds these statements from the structured XBRL data Bridgewater Bancshares Inc. files with the SEC. It is provided for information only and is not investment advice.