Arrow Financial Corporation
Financial ServicesNASDAQ:AROW · NASDAQ Global Select
+$1.75 today
Vol 0.09M · Avg 0.08M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$246.8M of revenue converted into $51.1M of net income for the selected period. Gross margin is 68.2% and net margin is 20.7%, showing how much revenue survives after costs and taxes. EPS is $3.10, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $242.6M +8.7% | $223.1M +16.4% | $191.7M +19.4% | $160.5M +8.5% | $147.9M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $84.3M -4.7% | $88.4M +44.7% | $61.1M +279.4% | $16.1M +194.6% | $5.5M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $158.3M +17.6% | $134.6M +3.1% | $130.6M -9.6% | $144.4M +1.4% | $142.5M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 65.3% +4.9pp | 60.4% -7.8pp | 68.1% -21.9pp | 90.0% -6.3pp | 96.3% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $84.8M +49.5% | $56.7M +11.5% | $50.9M +3.1% | $49.4M +5.2% | $46.9M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $102.9M +5.8% | $97.3M +4.5% | $93.0M +14.1% | $81.5M +4.5% | $78.0M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $0 -100.0% | $5.4M -20.2% | $6.7M -11.0% | $7.5M -3.6% | $7.8M | $374.2M | $1.2B | $631.8M |
| EBITDA | $55.4M +29.7% | $42.7M -3.4% | $44.2M -37.2% | $70.5M -2.4% | $72.2M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 22.8% +3.7pp | 19.2% -3.9pp | 23.1% -20.8pp | 43.9% -4.9pp | 48.8% | 5.6% | 46.3% | 42.0% |
| Operating Income | $55.4M +48.3% | $37.4M -0.4% | $37.5M -40.4% | $62.9M -2.3% | $64.4M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 22.8% +6.1pp | 16.7% -2.8pp | 19.6% -19.6pp | 39.2% -4.4pp | 43.5% | 16.6% | 24.1% | 22.0% |
| Interest Income | $210.1M +7.8% | $195.0M +19.9% | $162.6M +25.4% | $129.7M +12.2% | $115.5M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $77.0M -7.5% | $83.3M +44.2% | $57.7M +410.5% | $11.3M +117.7% | $5.2M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $0 | $0 | $0 | $0 | $0 | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $55.4M +48.3% | $37.4M -0.4% | $37.5M -40.4% | $62.9M -2.3% | $64.4M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 22.8% +6.1pp | 16.7% -2.8pp | 19.6% -19.6pp | 39.2% -4.4pp | 43.5% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $11.4M +49.5% | $7.6M +2.7% | $7.4M -47.3% | $14.1M -3.0% | $14.5M | $1.3B | -$1.6B | $745.2M |
| Net Income | $44.0M +47.9% | $29.7M -1.2% | $30.1M -38.4% | $48.8M -2.1% | $49.9M | $4.9B | $4.8B | $4.7B |
| Net Margin | 18.1% +4.8pp | 13.3% -2.4pp | 15.7% -14.7pp | 30.4% -3.3pp | 33.7% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $3 +49.4% | $2 +0.6% | $2 -38.3% | $3 -2.0% | $3 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $3 +49.7% | $2 +0.0% | $2 -38.1% | $3 -2.1% | $3 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $16.5M -1.4% | $16.7M -1.7% | $17.0M +0.2% | $17.0M +0.1% | $17.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $16.5M -1.4% | $16.7M -1.7% | $17.0M -0.1% | $17.1M +0.0% | $17.1M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Alerus Financial Corporation
NASDAQ:ALRS
$761.40M
Peoples Financial Services Corp.
NASDAQ:PFIS
$635.89M
Midland States Bancorp, Inc.
NASDAQ:MSBI
$625.21M
Bar Harbor Bankshares
AMEX:BHB
$618.96M
ACNB Corporation
NASDAQ:ACNB
$587.19M
Northrim BanCorp, Inc.
NASDAQ:NRIM
$573.91M
Farmers National Banc Corp.
NASDAQ:FMNB
$570.48M
Unity Bancorp, Inc.
NASDAQ:UNTY
$568.62M
Bridgewater Bancshares, Inc.
NASDAQ:BWB
$557.67M
Capital Bancorp, Inc.
NASDAQ:CBNK
$554.94M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does AROW generate?
Arrow Financial Corporation (AROW) reported $242.58M of revenue in fiscal 2025.
Is AROW profitable?
Arrow Financial Corporation (AROW) reported $43.95M of net income, with a net margin of 18.1%.
Explore More
Continue the stock analysis
Jump to another research area for this company.