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Bridgewater Bancshares (BWBBP) Financials

Bridgewater Bancshares logo
$19.38 -0.47 (-2.37%)
Closing price 03:59 PM Eastern
Extended Trading
$19.50 +0.13 (+0.64%)
As of 04:04 PM Eastern
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Annual Income Statements for Bridgewater Bancshares

Annual Income Statements for Bridgewater Bancshares

This table shows Bridgewater Bancshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 49 36 29
Consolidated Net Income / (Loss)		 53 40 33
Net Income / (Loss) Continuing Operations		 53 40 33
Total Pre-Tax Income 		72 53 43
Total Revenue		 136 112 110
Net Interest Income / (Expense)		 130 105 102
Total Interest Income		 164 222 246
Loans and Leases Interest Income		 146 191 205
Investment Securities Interest Income		 16 26 34
Other Interest Income		 1.03 4.71 7.24
Total Interest Expense		 34 117 144
Deposits Interest Expense		 23 96 129
Short-Term Borrowings Interest Expense		 0.20 1.14 1.16
Long-Term Debt Interest Expense		 5.91 11 13
Federal Funds Purchased and Securities Sold Interest Expense		 4.51 8.52 1.20
Total Non-Interest Income		 6.33 6.49 7.37
Other Service Charges		 4.25 3.29 4.12
Net Realized & Unrealized Capital Gains on Investments		 0.08 -0.03 0.39
Investment Banking Income		 1.24 1.46 1.48
Other Non-Interest Income		 0.76 1.78 1.33
Provision for Credit Losses		 7.70 -0.18 3.53
Total Non-Interest Expense		 57 59 63
Salaries and Employee Benefits		 37 37 40
Net Occupancy & Equipment Expense		 5.79 6.02 6.10
Marketing Expense		 2.03 1.13 1.49
Property & Liability Insurance Claims		 1.37 3.69 2.96
Other Operating Expenses		 9.90 12 13
Amortization Expense		 0.60 0.10 0.08
Income Tax Expense		 18 13 9.91
Preferred Stock Dividends Declared		 4.05 4.05 4.05
Basic Earnings per Share		 $1.78 $1.29 $1.05
Weighted Average Basic Shares Outstanding		 27.76M 27.71M 27.60M
Diluted Earnings per Share		 $1.72 $1.27 $1.03
Weighted Average Diluted Shares Outstanding		 27.76M 27.71M 27.60M
Weighted Average Basic & Diluted Shares Outstanding		 27.76M 27.71M 27.60M

Quarterly Income Statements for Bridgewater Bancshares

This table shows Bridgewater Bancshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 14 13 11 8.80 8.62 7.86 6.82 7.10 7.66 7.19
Consolidated Net Income / (Loss)		 15 14 12 9.82 9.63 8.87 7.83 8.12 8.68 8.20
Net Income / (Loss) Continuing Operations		 15 14 12 9.82 9.63 8.87 7.83 8.12 8.68 8.20
Total Pre-Tax Income 		20 18 16 13 13 11 10 11 11 11
Total Revenue		 35 35 31 27 27 27 26 27 27 30
Net Interest Income / (Expense)		 34 33 29 26 25 25 25 25 26 27
Total Interest Income		 42 49 52 55 57 59 59 61 63 63
Loans and Leases Interest Income		 38 42 45 48 49 50 50 51 52 52
Investment Securities Interest Income		 4.37 5.84 6.22 6.24 6.51 7.28 7.92 8.18 8.73 9.11
Other Interest Income		 0.32 0.53 0.82 1.04 1.30 1.54 1.17 1.32 2.41 2.35
Total Interest Expense		 8.26 16 23 29 31 33 34 36 37 36
Deposits Interest Expense		 5.98 11 16 23 27 29 30 32 34 33
Short-Term Borrowings Interest Expense		 0.00 0.20 0.26 0.29 0.30 0.30 0.30 0.30 0.30 0.28
Long-Term Debt Interest Expense		 1.57 1.61 1.84 3.09 3.32 3.22 3.25 3.12 2.94 3.23
Federal Funds Purchased and Securities Sold Interest Expense		 0.71 3.38 4.94 2.76 0.55 0.27 0.30 0.85 0.00 0.04
Total Non-Interest Income		 1.39 1.74 1.94 1.42 1.73 1.41 1.55 1.76 1.52 2.53
Other Service Charges		 1.07 0.60 1.12 0.76 0.60 0.81 0.81 0.77 0.83 1.72
Investment Banking Income		 0.31 0.34 0.35 0.37 0.38 0.36 0.34 0.37 0.37 0.39
Other Non-Interest Income		 - - 0.53 0.24 0.75 0.27 0.30 0.31 0.35 0.36
Provision for Credit Losses		 1.50 1.50 0.63 0.05 -0.60 -0.25 0.75 0.60 0.00 2.18
Total Non-Interest Expense		 14 15 14 14 15 16 15 16 16 17
Salaries and Employee Benefits		 9.45 9.82 8.82 8.59 9.52 9.62 9.43 9.68 9.85 11
Net Occupancy & Equipment Expense		 1.09 2.57 1.57 1.48 1.49 1.49 1.47 1.56 1.44 1.63
Marketing Expense		 - - 0.26 0.32 0.22 0.32 0.32 0.32 0.37 0.48
Property & Liability Insurance Claims		 - - 0.67 0.90 1.08 1.05 0.88 0.73 0.75 0.61
Other Operating Expenses		 3.62 -1.19 2.71 2.95 2.92 3.26 3.08 3.25 3.35 3.44
Amortization Expense		 - - 0.05 0.03 0.01 0.01 0.01 0.01 0.01 0.05
Income Tax Expense		 5.31 4.19 4.17 3.15 2.88 2.36 2.41 2.51 2.69 2.31
Preferred Stock Dividends Declared		 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01 1.01
Basic Earnings per Share		 $0.49 $0.46 $0.38 $0.32 $0.31 $0.28 $0.25 $0.26 $0.28 $0.26
Weighted Average Basic Shares Outstanding		 27.59M 27.76M 27.93M 27.98M 28.00M 27.71M 27.37M 27.35M 27.43M 27.60M
Diluted Earnings per Share		 $0.47 $0.45 $0.37 $0.31 $0.30 $0.29 $0.24 $0.26 $0.27 $0.26
Weighted Average Diluted Shares Outstanding		 27.59M 27.76M 27.93M 27.98M 28.00M 27.71M 27.37M 27.35M 27.43M 27.60M
Weighted Average Basic & Diluted Shares Outstanding		 27.59M 27.76M 27.93M 27.98M 28.00M 27.71M 27.37M 27.35M 27.43M 27.60M

Annual Cash Flow Statements for Bridgewater Bancshares

This table details how cash moves in and out of Bridgewater Bancshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -56 42 101
Net Cash From Operating Activities		 85 30 46
Net Cash From Continuing Operating Activities		 85 30 46
Net Income / (Loss) Continuing Operations		 53 40 33
Consolidated Net Income / (Loss)		 53 40 33
Provision For Loan Losses		 7.70 -0.18 3.53
Depreciation Expense		 2.57 2.51 2.37
Amortization Expense		 2.97 1.03 -0.34
Non-Cash Adjustments to Reconcile Net Income		 1.11 3.69 2.16
Changes in Operating Assets and Liabilities, net		 17 -17 5.84
Net Cash From Investing Activities		 -938 -209 -95
Net Cash From Continuing Investing Activities		 -938 -209 -95
Purchase of Property, Leasehold Improvements and Equipment		 -1.63 -2.97 -4.08
Purchase of Investment Securities		 -1,040 -272 -259
Sale and/or Maturity of Investments		 103 65 168
Net Cash From Financing Activities		 797 221 150
Net Cash From Continuing Financing Activities		 797 221 150
Net Change in Deposits		 470 293 119
Issuance of Debt		 172 680 997
Issuance of Preferred Equity		 0.00 0.00 0.00
Repayment of Debt		 -117 -457 -957
Repurchase of Common Equity		 -11 -4.67 -5.27
Payment of Dividends		 -4.05 -4.05 -4.05
Other Financing Activities, Net		 287 -286 0.13
Cash Interest Paid		 32 114 145
Cash Income Taxes Paid		 21 10 5.75

Quarterly Cash Flow Statements for Bridgewater Bancshares

This table details how cash moves in and out of Bridgewater Bancshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 1.98 12 122 -32 -53 4.20 15 -9.26 58 38
Net Cash From Operating Activities		 9.14 4.63 7.80 15 16 -8.47 7.19 11 -5.99 35
Net Cash From Continuing Operating Activities		 9.14 4.63 7.80 15 16 -8.47 7.19 11 -5.99 35
Net Income / (Loss) Continuing Operations		 15 14 12 9.82 9.63 8.87 7.83 8.12 8.68 8.20
Consolidated Net Income / (Loss)		 15 14 12 9.82 9.63 8.87 7.83 8.12 8.68 8.20
Provision For Loan Losses		 1.50 1.50 0.63 0.05 -0.60 -0.25 0.85 0.50 - 2.18
Depreciation Expense		 0.65 0.65 0.65 0.63 0.62 0.61 0.59 0.59 0.59 0.60
Amortization Expense		 0.53 0.80 0.37 0.37 0.23 0.06 -0.04 -0.28 -0.31 0.30
Non-Cash Adjustments to Reconcile Net Income		 0.88 -1.39 1.00 0.92 1.00 0.78 0.84 0.82 0.95 -0.45
Changes in Operating Assets and Liabilities, net		 -8.92 -11 -6.49 3.13 4.89 -19 -2.89 0.86 -16 24
Net Cash From Investing Activities		 -249 -204 -129 -36 -2.65 -41 -84 14 62 -87
Net Cash From Continuing Investing Activities		 -249 -204 -129 -36 -2.65 -41 -84 14 62 -87
Purchase of Property, Leasehold Improvements and Equipment		 -0.30 -0.18 -0.01 -2.54 -0.24 -0.18 -0.01 -0.19 -0.46 -3.42
Purchase of Investment Securities		 -260 -251 -156 -46 -14 -55 -106 -39 -9.60 -104
Sale and/or Maturity of Investments		 11 47 27 12 12 14 22 53 72 21
Net Cash From Financing Activities		 242 211 244 -11 -66 54 91 -33 1.69 90
Net Cash From Continuing Financing Activities		 242 211 244 -11 -66 54 91 -33 1.69 90
Net Change in Deposits		 103 111 -5.42 167 98 34 97 0.49 -60 82
Issuance of Debt		 15 143 156 163 168 193 208 213 278 298
Repayment of Debt		 - -117 -56 -98 -136 -168 -211 -243 -216 -288
Repurchase of Common Equity		 -1.62 -0.12 0.00 - - -4.67 -2.28 -2.90 -0.04 -0.05
Payment of Dividends		 -1.01 -1.01 -1.01 -1.01 -1.01 -1.01 -1.01 -1.01 -1.01 -1.01
Other Financing Activities, Net		 126 75 150 -242 -195 -0.18 -0.01 -0.01 0.51 -0.36
Cash Interest Paid		 7.34 15 23 5.89 54 32 35 36 38 36
Cash Income Taxes Paid		 6.20 6.41 0.04 5.05 3.84 1.46 0.00 2.63 2.86 0.27

Annual Balance Sheets for Bridgewater Bancshares

This table presents Bridgewater Bancshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 4,346 4,612 5,066
Cash and Due from Banks		 87 129 230
Time Deposits Placed and Other Short-Term Investments		 1.18 0.00 4.38
Trading Account Securities		 549 604 768
Loans and Leases, Net of Allowance		 3,512 3,667 3,809
Premises and Equipment, Net		 48 49 50
Goodwill		 2.63 2.63 12
Intangible Assets		 0.29 0.19 7.85
Other Assets		 145 160 185
Total Liabilities & Shareholders' Equity		 4,346 4,612 5,066
Total Liabilities		 3,952 4,186 4,608
Non-Interest Bearing Deposits		 884 757 801
Interest Bearing Deposits		 2,532 2,953 3,286
Accrued Interest Payable		 2.83 5.28 4.01
Long-Term Debt		 190 413 453
Other Long-Term Liabilities		 56 59 65
Total Equity & Noncontrolling Interests		 394 426 458
Total Preferred & Common Equity		 394 426 458
Preferred Stock		 67 67 67
Total Common Equity		 328 359 391
Common Stock		 97 97 95
Retained Earnings		 249 281 309
Accumulated Other Comprehensive Income / (Loss)		 -18 -18 -13

Quarterly Balance Sheets for Bridgewater Bancshares

This table presents Bridgewater Bancshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 4,129 4,603 4,603 4,557 4,723 4,687 4,692
Cash and Due from Banks		 75 209 177 124 143 134 192
Trading Account Securities		 542 559 538 553 633 601 665
Loans and Leases, Net of Allowance		 0.00 0.00 3,678 3,664 3,727 3,742 3,629
Premises and Equipment, Net		 49 48 50 49 48 48 48
Goodwill		 2.63 2.63 2.63 2.63 2.63 2.63 2.63
Intangible Assets		 0.34 0.24 0.21 0.20 0.18 0.17 0.16
Other Assets		 134 157 156 162 169 159 156
Total Liabilities & Shareholders' Equity		 4,129 4,603 4,603 4,557 4,723 4,687 4,692
Total Liabilities		 3,747 4,201 4,194 4,141 4,289 4,248 4,239
Non-Interest Bearing Deposits		 961 742 751 754 698 705 713
Interest Bearing Deposits		 2,344 2,669 2,827 2,921 3,109 3,103 3,034
Accrued Interest Payable		 2.21 3.26 2.97 3.82 4.41 4.00 3.46
Long-Term Debt		 164 290 355 387 410 380 443
Other Long-Term Liabilities		 64 60 63 74 68 56 46
Total Equity & Noncontrolling Interests		 382 402 409 416 434 439 452
Total Preferred & Common Equity		 382 402 409 416 434 439 452
Preferred Stock		 67 67 67 67 67 67 67
Total Common Equity		 315 335 343 349 367 373 386
Common Stock		 96 98 99 100 95 93 95
Retained Earnings		 236 255 264 273 287 295 302
Accumulated Other Comprehensive Income / (Loss)		 -17 -18 -21 -24 -16 -15 -11

Annual Metrics And Ratios for Bridgewater Bancshares

This table displays calculated financial ratios and metrics derived from Bridgewater Bancshares' official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 18.47% -17.91% -1.89%
EBITDA Growth		 13.70% -27.43% -20.15%
EBIT Growth		 16.46% -26.76% -18.63%
NOPAT Growth		 16.86% -25.16% -17.86%
Net Income Growth		 16.86% -25.16% -17.86%
EPS Growth		 11.69% -26.16% -18.90%
Operating Cash Flow Growth		 56.72% -64.69% 54.51%
Free Cash Flow Firm Growth		 73.11% -1,213.89% 81.35%
Invested Capital Growth		 13.56% 43.57% 8.69%
Revenue Q/Q Growth		 3.18% -6.61% 2.60%
EBITDA Q/Q Growth		 1.24% -11.77% -1.08%
EBIT Q/Q Growth		 1.55% -11.31% -1.66%
NOPAT Q/Q Growth		 2.34% -10.85% -2.00%
Net Income Q/Q Growth		 2.34% -10.85% -2.00%
EPS Q/Q Growth		 3.61% -11.19% -2.83%
Operating Cash Flow Q/Q Growth		 -6.32% -30.38% 1,292.25%
Free Cash Flow Firm Q/Q Growth		 -220.32% -0.88% 31.23%
Invested Capital Q/Q Growth		 6.90% 4.31% 1.77%
Profitability Metrics		 - - -
EBITDA Margin		 56.79% 50.20% 40.86%
EBIT Margin		 52.72% 47.03% 39.01%
Profit (Net Income) Margin		 39.25% 35.79% 29.96%
Tax Burden Percent		 74.46% 76.08% 76.81%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 25.54% 23.92% 23.19%
Return on Invested Capital (ROIC)		 9.73% 5.62% 3.75%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.73% 5.62% 3.75%
Return on Net Nonoperating Assets (RNNOA)		 4.08% 4.13% 3.68%
Return on Equity (ROE)		 13.81% 9.75% 7.43%
Cash Return on Invested Capital (CROIC)		 -2.97% -30.16% -4.57%
Operating Return on Assets (OROA)		 1.83% 1.17% 0.88%
Return on Assets (ROA)		 1.36% 0.89% 0.68%
Return on Common Equity (ROCE)		 11.43% 8.17% 6.31%
Return on Equity Simple (ROE_SIMPLE)		 13.55% 9.39% 7.17%
Net Operating Profit after Tax (NOPAT)		 53 40 33
NOPAT Margin		 39.25% 35.79% 29.96%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 32.90% 39.12% 43.03%
Operating Expenses to Revenue		 41.62% 53.12% 57.78%
Earnings before Interest and Taxes (EBIT)		 72 53 43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 77 56 45
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.49 1.05 0.95
Price to Tangible Book Value (P/TBV)		 1.51 1.06 1.00
Price to Revenue (P/Rev)		 3.60 3.39 3.38
Price to Earnings (P/E)		 9.92 10.54 12.88
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 10.08% 9.48% 7.77%
Enterprise Value to Invested Capital (EV/IC)		 1.13 0.87 0.72
Enterprise Value to Revenue (EV/Rev)		 4.83 6.53 5.99
Enterprise Value to EBITDA (EV/EBITDA)		 8.51 13.01 14.65
Enterprise Value to EBIT (EV/EBIT)		 9.17 13.88 15.35
Enterprise Value to NOPAT (EV/NOPAT)		 12.31 18.24 19.98
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.73 24.29 14.14
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.48 0.97 0.99
Long-Term Debt to Equity		 0.48 0.97 0.99
Financial Leverage		 0.42 0.73 0.98
Leverage Ratio		 10.12 10.93 10.96
Compound Leverage Factor		 10.12 10.93 10.96
Debt to Total Capital		 32.49% 49.23% 49.72%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 32.49% 49.23% 49.72%
Preferred Equity to Total Capital		 11.39% 7.94% 7.30%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 56.11% 42.84% 42.97%
Debt to EBITDA		 2.46 7.36 10.12
Net Debt to EBITDA		 1.31 5.07 4.89
Long-Term Debt to EBITDA		 2.46 7.36 10.12
Debt to NOPAT		 3.55 10.32 13.80
Net Debt to NOPAT		 1.90 7.11 6.67
Long-Term Debt to NOPAT		 3.55 10.32 13.80
Noncontrolling Interest Sharing Ratio		 17.20% 16.23% 15.06%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -16 -214 -40
Operating Cash Flow to CapEx		 5,205.08% 1,010.61% 1,136.67%
Free Cash Flow to Firm to Interest Expense		 -0.48 -1.83 -0.28
Operating Cash Flow to Interest Expense		 2.50 0.26 0.32
Operating Cash Flow Less CapEx to Interest Expense		 2.45 0.23 0.29
Efficiency Ratios		 - - -
Asset Turnover		 0.03 0.02 0.02
Fixed Asset Turnover		 2.78 2.29 2.23
Capital & Investment Metrics		 - - -
Invested Capital		 584 838 911
Invested Capital Turnover		 0.25 0.16 0.13
Increase / (Decrease) in Invested Capital		 70 254 73
Enterprise Value (EV)		 657 729 656
Market Capitalization		 489 379 371
Book Value per Share		 $11.87 $12.82 $14.27
Tangible Book Value per Share		 $11.77 $12.72 $13.55
Total Capital		 584 838 911
Total Debt		 190 413 453
Total Long-Term Debt		 190 413 453
Net Debt		 101 284 219
Capital Expenditures (CapEx)		 1.63 2.97 4.08
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 190 413 453
Total Depreciation and Amortization (D&A)		 5.54 3.54 2.03
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.78 $1.29 $1.05
Adjusted Weighted Average Basic Shares Outstanding		 27.76M 27.71M 27.60M
Adjusted Diluted Earnings per Share		 $1.72 $1.27 $1.03
Adjusted Weighted Average Diluted Shares Outstanding		 27.76M 27.71M 27.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 27.76M 27.71M 27.60M
Normalized Net Operating Profit after Tax (NOPAT)		 53 40 33
Normalized NOPAT Margin		 39.25% 35.79% 29.96%
Pre Tax Income Margin		 52.72% 47.03% 39.01%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 2.11 0.45 0.30
NOPAT to Interest Expense		 1.57 0.34 0.23
EBIT Less CapEx to Interest Expense		 2.06 0.42 0.27
NOPAT Less CapEx to Interest Expense		 1.52 0.32 0.20
Payout Ratios		 - - -
Dividend Payout Ratio		 7.59% 10.15% 12.35%
Augmented Payout Ratio		 27.99% 21.83% 28.40%

Quarterly Metrics And Ratios for Bridgewater Bancshares

This table displays calculated financial ratios and metrics derived from Bridgewater Bancshares' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 17.95% 13.76% -3.87% -20.17% -23.49% -22.84% -14.19% -1.94% -0.10% 10.39%
EBITDA Growth		 22.53% 5.14% -6.57% -25.92% -36.38% -38.60% -35.87% -21.77% -12.91% -4.10%
EBIT Growth		 27.52% 6.51% -4.46% -25.51% -36.90% -37.34% -35.24% -18.07% -9.18% -6.41%
NOPAT Growth		 26.10% 9.76% -5.06% -23.80% -33.65% -35.40% -32.73% -17.33% -9.91% -7.54%
Net Income Growth		 26.10% 9.76% -5.06% -23.80% -33.65% -35.40% -32.73% -17.33% -9.91% -7.54%
EPS Growth		 17.50% 15.38% -5.13% -24.39% -36.17% -35.56% -35.14% -16.13% -10.00% -10.34%
Operating Cash Flow Growth		 -42.64% -55.33% -75.07% -62.65% 72.45% -282.89% -7.86% -28.94% -137.97% 508.33%
Free Cash Flow Firm Growth		 -35.00% 40.36% -81.17% -159.61% -927.96% -338.53% 13.07% 79.43% 66.51% 73.68%
Invested Capital Growth		 7.61% 13.56% 34.51% 45.84% 47.13% 43.57% 21.97% 7.26% 11.40% 8.69%
Revenue Q/Q Growth		 3.81% -2.40% -11.90% -10.56% -0.51% -1.56% -2.03% 2.21% 1.35% 8.77%
EBITDA Q/Q Growth		 11.45% -7.73% -13.11% -17.08% -4.29% -10.96% -10.11% 1.15% 6.56% -1.95%
EBIT Q/Q Growth		 13.92% -9.57% -11.78% -18.04% -3.49% -10.21% -9.73% 3.69% 6.98% -7.46%
NOPAT Q/Q Growth		 12.66% -5.36% -15.24% -15.68% -1.91% -7.85% -11.74% 3.63% 6.90% -5.43%
Net Income Q/Q Growth		 12.66% -5.36% -15.24% -15.68% -1.91% -7.85% -11.74% 3.63% 6.90% -5.43%
EPS Q/Q Growth		 14.63% -4.26% -17.78% -16.22% -3.23% -3.33% -17.24% 8.33% 3.85% -3.70%
Operating Cash Flow Q/Q Growth		 -77.11% -49.36% 68.42% 91.31% 5.69% -153.71% 184.85% 47.53% -156.47% 677.63%
Free Cash Flow Firm Q/Q Growth		 72.84% -132.28% -196.26% -38.89% -7.55% 0.91% 41.27% 67.13% -75.06% 22.12%
Invested Capital Q/Q Growth		 4.24% 6.90% 18.51% 10.44% 5.16% 4.31% 0.68% -2.88% 9.22% 1.77%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 59.19% 55.96% 55.19% 51.16% 49.22% 44.52% 41.24% 40.81% 42.91% 38.68%
EBIT Margin		 55.87% 51.77% 51.84% 47.51% 46.08% 42.04% 39.12% 39.69% 41.89% 35.64%
Profit (Net Income) Margin		 40.90% 39.66% 38.16% 35.97% 35.47% 33.20% 29.91% 30.33% 31.99% 27.81%
Tax Burden Percent		 73.21% 76.61% 73.61% 75.72% 76.97% 78.99% 76.46% 76.41% 76.36% 78.04%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 26.79% 23.39% 26.39% 24.28% 23.03% 21.01% 23.54% 23.59% 23.64% 21.96%
Return on Invested Capital (ROIC)		 10.24% 9.83% 8.53% 7.15% 6.29% 5.22% 4.18% 4.09% 4.02% 3.48%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.24% 9.83% 8.53% 7.15% 6.29% 5.22% 4.18% 4.09% 4.02% 3.48%
Return on Net Nonoperating Assets (RNNOA)		 4.15% 4.12% 4.63% 4.59% 4.34% 3.83% 3.50% 3.54% 3.85% 3.41%
Return on Equity (ROE)		 14.38% 13.95% 13.16% 11.74% 10.63% 9.05% 7.68% 7.64% 7.87% 6.90%
Cash Return on Invested Capital (CROIC)		 2.57% -2.97% -20.68% -29.57% -31.50% -30.16% -15.09% -2.66% -6.84% -4.57%
Operating Return on Assets (OROA)		 1.96% 1.80% 1.70% 1.43% 1.27% 1.05% 0.90% 0.91% 0.97% 0.81%
Return on Assets (ROA)		 1.43% 1.38% 1.25% 1.08% 0.98% 0.83% 0.69% 0.70% 0.74% 0.63%
Return on Common Equity (ROCE)		 11.83% 11.55% 10.92% 9.75% 8.86% 7.58% 6.46% 6.44% 6.66% 5.86%
Return on Equity Simple (ROE_SIMPLE)		 13.66% 0.00% 13.13% 12.15% 10.78% 0.00% 8.34% 7.84% 7.41% 0.00%
Net Operating Profit after Tax (NOPAT)		 15 14 12 9.82 9.63 8.87 7.83 8.12 8.68 8.20
NOPAT Margin		 40.90% 39.66% 38.16% 35.97% 35.47% 33.20% 29.91% 30.33% 31.99% 27.81%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 29.69% 35.79% 34.88% 38.06% 41.38% 42.75% 42.87% 43.19% 42.97% 43.08%
Operating Expenses to Revenue		 39.90% 43.90% 46.11% 52.31% 56.13% 58.90% 58.02% 58.07% 58.11% 56.99%
Earnings before Interest and Taxes (EBIT)		 20 18 16 13 13 11 10 11 11 11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 21 19 17 14 13 12 11 11 12 11
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.44 1.49 0.90 0.80 0.76 1.05 0.88 0.85 1.00 0.95
Price to Tangible Book Value (P/TBV)		 1.45 1.51 0.90 0.81 0.77 1.06 0.89 0.86 1.01 1.00
Price to Revenue (P/Rev)		 3.45 3.60 2.23 2.15 2.22 3.39 3.00 2.98 3.63 3.38
Price to Earnings (P/E)		 9.47 9.92 6.18 6.03 6.51 10.54 10.05 10.46 13.16 12.88
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 10.56% 10.08% 16.19% 16.59% 15.37% 9.48% 9.95% 9.56% 7.60% 7.77%
Enterprise Value to Invested Capital (EV/IC)		 1.11 1.13 0.65 0.68 0.74 0.87 0.78 0.77 0.79 0.72
Enterprise Value to Revenue (EV/Rev)		 4.61 4.83 3.31 4.05 4.96 6.53 6.11 5.90 6.60 5.99
Enterprise Value to EBITDA (EV/EBITDA)		 7.97 8.51 5.87 7.28 9.34 13.01 13.11 13.42 15.58 14.65
Enterprise Value to EBIT (EV/EBIT)		 8.61 9.17 6.29 7.79 10.02 13.88 13.97 14.13 16.22 15.35
Enterprise Value to NOPAT (EV/NOPAT)		 11.66 12.31 8.47 10.43 13.24 18.24 18.14 18.30 21.05 19.98
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.70 7.73 7.26 14.20 13.77 24.29 22.31 25.13 211.66 14.14
Enterprise Value to Free Cash Flow (EV/FCFF)		 44.84 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.43 0.48 0.72 0.87 0.93 0.97 0.95 0.87 0.98 0.99
Long-Term Debt to Equity		 0.43 0.48 0.72 0.87 0.93 0.97 0.95 0.87 0.98 0.99
Financial Leverage		 0.41 0.42 0.54 0.64 0.69 0.73 0.84 0.87 0.96 0.98
Leverage Ratio		 10.03 10.12 10.51 10.82 10.89 10.93 11.16 10.95 10.65 10.96
Compound Leverage Factor		 10.03 10.12 10.51 10.82 10.89 10.93 11.16 10.95 10.65 10.96
Debt to Total Capital		 30.04% 32.49% 41.89% 46.45% 48.23% 49.23% 48.61% 46.40% 49.48% 49.72%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 30.04% 32.49% 41.89% 46.45% 48.23% 49.23% 48.61% 46.40% 49.48% 49.72%
Preferred Equity to Total Capital		 12.18% 11.39% 9.62% 8.71% 8.28% 7.94% 7.88% 8.12% 7.43% 7.30%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 57.78% 56.11% 48.50% 44.85% 43.50% 42.84% 43.51% 45.48% 43.09% 42.97%
Debt to EBITDA		 2.15 2.46 3.81 4.99 6.10 7.36 8.20 8.09 9.79 10.12
Net Debt to EBITDA		 1.15 1.31 1.04 2.48 4.12 5.07 5.33 5.24 5.55 4.89
Long-Term Debt to EBITDA		 2.15 2.46 3.81 4.99 6.10 7.36 8.20 8.09 9.79 10.12
Debt to NOPAT		 3.14 3.55 5.49 7.14 8.64 10.32 11.35 11.04 13.22 13.80
Net Debt to NOPAT		 1.67 1.90 1.50 3.55 5.84 7.11 7.38 7.15 7.49 6.67
Long-Term Debt to NOPAT		 3.14 3.55 5.49 7.14 8.64 10.32 11.35 11.04 13.22 13.80
Noncontrolling Interest Sharing Ratio		 17.74% 17.20% 17.02% 16.97% 16.67% 16.23% 15.92% 15.68% 15.32% 15.06%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -24 -56 -166 -230 -248 -245 -144 -47 -83 -65
Operating Cash Flow to CapEx		 3,068.12% 2,630.68% 111,400.00% 587.09% 6,597.07% -4,627.32% 119,750.00% 5,638.30% -1,290.09% 1,010.43%
Free Cash Flow to Firm to Interest Expense		 -2.92 -3.51 -7.08 -7.91 -7.89 -7.38 -4.24 -1.32 -2.22 -1.78
Operating Cash Flow to Interest Expense		 1.11 0.29 0.33 0.51 0.50 -0.25 0.21 0.30 -0.16 0.95
Operating Cash Flow Less CapEx to Interest Expense		 1.07 0.28 0.33 0.42 0.49 -0.26 0.21 0.29 -0.17 0.86
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.03 0.03 0.03 0.03 0.02 0.02 0.02 0.02 0.02
Fixed Asset Turnover		 2.67 2.78 2.78 2.58 2.43 2.29 2.23 2.19 2.20 2.23
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 546 584 692 764 803 838 844 819 895 911
Invested Capital Turnover		 0.25 0.25 0.22 0.20 0.18 0.16 0.14 0.13 0.13 0.13
Increase / (Decrease) in Invested Capital		 39 70 177 240 257 254 152 55 92 73
Enterprise Value (EV)		 608 657 447 518 594 729 656 630 705 656
Market Capitalization		 454 489 301 275 265 379 323 318 388 371
Book Value per Share		 $11.44 $11.87 $12.09 $12.26 $12.49 $12.82 $13.25 $13.62 $14.10 $14.27
Tangible Book Value per Share		 $11.33 $11.77 $11.98 $12.16 $12.39 $12.72 $13.15 $13.51 $14.00 $13.55
Total Capital		 546 584 692 764 803 838 844 819 895 911
Total Debt		 164 190 290 355 387 413 410 380 443 453
Total Long-Term Debt		 164 190 290 355 387 413 410 380 443 453
Net Debt		 87 101 79 177 262 284 267 246 251 219
Capital Expenditures (CapEx)		 0.30 0.18 0.01 2.54 0.24 0.18 0.01 0.19 0.46 3.42
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 164 190 290 355 387 413 410 380 443 453
Total Depreciation and Amortization (D&A)		 1.18 1.45 1.02 1.00 0.85 0.67 0.56 0.30 0.28 0.90
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.46 $0.38 $0.32 $0.31 $0.28 $0.25 $0.26 $0.28 $0.26
Adjusted Weighted Average Basic Shares Outstanding		 0.00 27.76M 27.93M 27.98M 28.00M 27.71M 27.37M 27.35M 27.43M 27.60M
Adjusted Diluted Earnings per Share		 $0.00 $0.45 $0.37 $0.31 $0.30 $0.29 $0.24 $0.26 $0.27 $0.26
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 27.76M 27.93M 27.98M 28.00M 27.71M 27.37M 27.35M 27.43M 27.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 27.76M 27.93M 27.98M 28.00M 27.71M 27.37M 27.35M 27.43M 27.60M
Normalized Net Operating Profit after Tax (NOPAT)		 15 14 12 9.82 9.63 8.87 7.83 8.12 8.68 8.20
Normalized NOPAT Margin		 40.90% 39.66% 38.16% 35.97% 35.47% 33.20% 29.91% 30.33% 31.99% 27.81%
Pre Tax Income Margin		 55.87% 51.77% 51.84% 47.51% 46.08% 42.04% 39.12% 39.69% 41.89% 35.64%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 2.40 1.12 0.68 0.45 0.40 0.34 0.30 0.30 0.30 0.29
NOPAT to Interest Expense		 1.76 0.86 0.50 0.34 0.31 0.27 0.23 0.23 0.23 0.23
EBIT Less CapEx to Interest Expense		 2.36 1.11 0.67 0.36 0.39 0.33 0.30 0.29 0.29 0.20
NOPAT Less CapEx to Interest Expense		 1.72 0.85 0.50 0.25 0.30 0.26 0.23 0.22 0.22 0.13
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 8.07% 7.59% 7.68% 8.16% 9.04% 10.15% 11.21% 11.77% 12.10% 12.35%
Augmented Payout Ratio		 28.84% 27.99% 26.04% 11.64% 9.30% 21.83% 30.43% 40.35% 41.61% 28.40%

Key Financial Trends

Bridgewater Bancshares (NASDAQ: BWB) has exhibited consistent financial performance over the past few years, with steady growth in key areas such as net interest income, total revenue, and net income attributable to common shareholders. Here's an analysis of the latest data and trends observed from 2022 through 2024 Q4.

  • Net Interest Income Growth: Net interest income increased from $32.9 million in Q4 2022 to $26.9 million in Q4 2024, with fluctuations reflecting market conditions, but overall showing resilience.
  • Increasing Loan and Lease Interest Income: Loans and leases interest income rose from about $42.5 million in Q4 2022 to $51.9 million in Q4 2024, indicating growth in lending activities.
  • Non-Interest Income Contribution: Non-interest income, including service charges and investment banking income, remained a modest but stable contributor, totaling approximately $2.5 million in Q4 2024.
  • Consistent Profitability: Net income attributable to common shareholders has been stable, around $7.2 million in Q4 2024 and showing solid profitability across recent quarters and years.
  • Strong Cash Flow from Operations: The latest Q4 2024 cash flow statement shows $34.6 million net cash generated from operating activities, indicating good cash generation capacity.
  • Deposit Growth: Deposits have seen robust growth, with net change in deposits at $81.8 million in Q4 2024, supporting lending and investment opportunities.
  • Debt Issuance and Management: The company issued $298 million in debt in Q4 2024 while repaying $288 million, showing an active but controlled approach to leverage management.
  • Interest Expense Trends: Total interest expense remains elevated at about $36.3 million in Q4 2024, influenced by deposits and long-term debt interest costs.
  • Loan Loss Provisions: Provision for credit losses increased to $2.18 million in Q4 2024 compared to zero or low levels in prior quarters, potentially signaling cautiousness towards credit risk.
  • Investment Securities Purchases: Significant buying of investment securities ($104.5 million in Q4 2024) resulted in a large outflow in investing activities, which could pressure liquidity if market conditions deteriorate.

Additional Observations:

  • Total assets remained fairly stable around $4.6 billion in mid-2023 through Q3 2024, providing a consistent asset base.
  • Equity levels increased moderately over recent quarters, with total equity around $452 million by Q3 2024, supporting financial stability.
  • Earnings per share have been relatively flat recently, with diluted EPS close to $0.26 in recent quarters compared to $0.30 in early 2023, reflecting slightly lower profitability on a per-share basis.
  • Periodic increases in marketing, insurance claims, and other non-interest operating expenses could constrain profitability if not managed effectively.

Summary: Bridgewater Bancshares demonstrates solid operational performance with growth in core lending and deposit businesses. The company maintains strong cash flow generation and prudent balance sheet management. However, rising credit loss provisions and significant investment securities purchases warrant monitoring as they may indicate evolving risk exposure. Overall, the bank appears well-positioned but should watch expense trends and credit quality closely moving forward.

08/15/25 05:44 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Bridgewater Bancshares' Financials

When does Bridgewater Bancshares' financial year end?

According to the most recent income statement we have on file, Bridgewater Bancshares' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Bridgewater Bancshares' net income changed over the last 2 years?

Bridgewater Bancshares' net income appears to be on a downward trend, with a most recent value of $32.83 million in 2024, falling from $53.39 million in 2022. The previous period was $39.96 million in 2023.

How has Bridgewater Bancshares' revenue changed over the last 2 years?

Over the last 2 years, Bridgewater Bancshares' total revenue changed from $136.03 million in 2022 to $109.56 million in 2024, a change of -19.5%.

How much debt does Bridgewater Bancshares have?

Bridgewater Bancshares' total liabilities were at $4.61 billion at the end of 2024, a 10.1% increase from 2023, and a 16.6% increase since 2022.

How much cash does Bridgewater Bancshares have?

In the past 2 years, Bridgewater Bancshares' cash and equivalents has ranged from $87.04 million in 2022 to $229.76 million in 2024, and is currently $229.76 million as of their latest financial filing in 2024.

How has Bridgewater Bancshares' book value per share changed over the last 2 years?

Over the last 2 years, Bridgewater Bancshares' book value per share changed from 11.87 in 2022 to 14.27 in 2024, a change of 20.2%.


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This page (NASDAQ:BWBBP) was last updated on 8/15/2025 by MarketBeat.com Staff
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