German American Bancorp (GABC) financial statements
German American Bancorp reported revenue of $487M in fiscal 2025, up 16.1% a year over 9 years.
Net income was $113M.
Free cash flow was $154M, and the company returned $43M in dividends.
The diluted share count rose 64% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from German American Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $127M | $132M | $152M | $191M | $210M | $220M | $278M | $317M | $354M | $487M |
| Interest expense | $8M | $11M | $19M | $31M | $19M | $10M | $18M | $66M | — | — |
| Pre-tax income | $49M | $52M | $56M | $71M | $75M | $103M | $99M | $104M | $104M | $140M |
| Income tax | $14M | $12M | $10M | $12M | $13M | $19M | $17M | $18M | $20M | $27M |
| Net income | $35M | $41M | $47M | $59M | $62M | $84M | $82M | $86M | $84M | $113M |
| EPS (diluted) | $1.57 | $1.77 | $1.99 | $2.29 | $2.34 | $3.17 | $2.78 | $2.91 | $2.83 | $3.06 |
| Diluted shares | 22M | 23M | 23M | 26M | 27M | 27M | 29M | 30M | 30M | 37M |
| Net margin | 27.7% | 30.9% | 30.7% | 31.1% | 29.7% | 38.2% | 29.4% | 27.1% | 23.7% | 23.1% |
Balance sheet
Fiscal years, from German American Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | — | $70M | $97M | $104M | $344M | $395M | $117M | $115M | $189M | $118M |
| Property, plant and equipment | $48M | $54M | $81M | $97M | $97M | $89M | $112M | $107M | $104M | $139M |
| Goodwill | $54M | $54M | $104M | $121M | $122M | $122M | $180M | $180M | $179M | $375M |
| Total assets | $3.0B | $3.1B | $3.9B | $4.4B | $5.0B | $5.6B | $6.2B | $6.2B | $6.3B | $8.4B |
| Total liabilities | $2.6B | $2.8B | $3.5B | $3.8B | $4.4B | $4.9B | $5.6B | $5.5B | $5.6B | $7.2B |
| Shareholders' equity | $330M | $365M | $459M | $574M | $625M | $668M | $558M | $664M | $715M | $1.2B |
| Net debt | — | -$70M | -$97M | -$104M | -$344M | -$395M | -$117M | -$115M | -$189M | -$118M |
Cash flow
Fiscal years, from German American Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $42M | $55M | $62M | $65M | $92M | $101M | $110M | $107M | $96M | $159M |
| Capital spending | $5M | $11M | $15M | $9M | $7M | $5M | $8M | $6M | $5M | $5M |
| Free cash flow | $37M | $44M | $47M | $56M | $85M | $96M | $102M | $101M | $91M | $154M |
| Stock-based compensation | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $3M | $3M |
| Dividends paid | $11M | $12M | $14M | $18M | $20M | $22M | $27M | $29M | $32M | $43M |
| Net borrowing | -$65M | $17M | $28M | -$58M | -$155M | -$43M | -$12M | -$10M | $16M | -$56M |
| Free cash flow margin | 28.9% | 33.2% | 31.1% | 29.3% | 40.7% | 43.7% | 36.7% | 32.0% | 25.6% | 31.6% |
| Dividends per share | $0.47 | $0.52 | $0.60 | $0.68 | $0.76 | $0.84 | $0.92 | $1.00 | $1.07 | $1.18 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for GABC.
Open GABC in InvestinglyQuestions
What was German American Bancorp's revenue in 2025?
$487M in fiscal 2025, from its 10-K filing.
How much free cash flow does German American Bancorp generate?
$154M in fiscal 2025 (operating cash flow minus capital spending).
From German American Bancorp's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.