Bridgewater Bancshares (BWB) financial statements
Bridgewater Bancshares reported revenue of $143M in fiscal 2025, up 13.8% a year over 9 years.
Net income was $46M.
Free cash flow was $22M, and the company returned $2M in net buybacks.
The diluted share count rose 24% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Bridgewater Bancshares's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $45M | $57M | $67M | $78M | $94M | $115M | $136M | $112M | $110M | $143M |
| Interest expense | — | $12M | $20M | $30M | $27M | $19M | $34M | $117M | — | — |
| Pre-tax income | $21M | $27M | $32M | $38M | $36M | $62M | $72M | $53M | $43M | $60M |
| Income tax | $8M | $10M | $5M | $7M | $8M | $16M | $18M | $13M | $10M | $14M |
| Net income | $13M | $17M | $27M | $31M | $27M | $46M | $53M | $40M | $33M | $46M |
| EPS (diluted) | $0.58 | $0.68 | $0.91 | $1.05 | $0.93 | $1.54 | $1.72 | $1.27 | $1.03 | $1.49 |
| Diluted shares | 23M | 25M | 29M | 30M | 29M | 29M | 29M | 28M | 28M | 28M |
| Net margin | 29.6% | 29.8% | 40.0% | 40.3% | 29.0% | 39.8% | 39.3% | 35.8% | 30.0% | 32.2% |
Balance sheet
Fiscal years, from Bridgewater Bancshares's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $16M | $24M | $28M | $32M | $161M | $143M | $87M | $129M | $230M | $124M |
| Property, plant and equipment | — | $10M | $13M | $28M | $51M | $49M | $48M | $49M | $50M | $52M |
| Goodwill | — | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $12M | $12M |
| Total assets | — | $1.6B | $2.0B | $2.3B | $2.9B | $3.5B | $4.3B | $4.6B | $5.1B | $5.4B |
| Total liabilities | — | $1.5B | $1.8B | $2.0B | $2.7B | $3.1B | $4.0B | $4.2B | $4.6B | $4.9B |
| Shareholders' equity | $115M | $137M | $221M | $245M | $265M | $379M | $394M | $426M | $458M | $517M |
| Net debt | -$16M | -$24M | -$28M | -$32M | -$161M | -$143M | -$87M | -$129M | -$230M | -$124M |
Cash flow
Fiscal years, from Bridgewater Bancshares's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $15M | $25M | $29M | $40M | $23M | $54M | $85M | $30M | $46M | $28M |
| Capital spending | $2M | $1M | $4M | $16M | $25M | $777,000 | $2M | $3M | $4M | $6M |
| Free cash flow | $13M | $24M | $26M | $24M | -$2M | $53M | $83M | $27M | $42M | $22M |
| Stock-based compensation | $222,000 | $368,000 | $799,000 | $752,000 | $2M | $2M | $3M | $4M | $4M | $4M |
| Share buybacks (net) | -$192,000 | — | — | -$15M | -$10M | -$2M | -$11M | -$5M | -$5M | -$2M |
| Free cash flow margin | 28.5% | 41.7% | 38.2% | 30.7% | -1.8% | 46.6% | 61.3% | 24.2% | 38.6% | 15.3% |
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Open BWB in InvestinglyQuestions
What was Bridgewater Bancshares's revenue in 2025?
$143M in fiscal 2025, from its 10-K filing.
How much free cash flow does Bridgewater Bancshares generate?
$22M in fiscal 2025 (operating cash flow minus capital spending).
From Bridgewater Bancshares's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.