Latest Ratios: P/E Ratio 13.1x · EV/EBITDA 8.0x · ROE 12.3%. (2003–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $466M | $359M | $241M | $231M | $225M | $255M | $151M | $225M | $223M | $263M | $243M |
| Enterprise Value | $421M | $313M | $107M | $122M | $39M | $48M | $-53599744 | $322M | $333M | $417M | $332M |
| P/E Ratio → | 13.13 | 10.30 | 25.33 | 6.46 | 6.14 | 9.77 | 26.07 | 12.48 | 12.99 | 19.29 | 20.06 |
| P/S Ratio | 2.24 | 1.73 | 1.23 | 1.19 | 1.86 | 2.93 | 1.88 | 2.55 | 2.66 | 3.47 | 3.82 |
| P/B Ratio | 1.52 | 1.19 | 0.89 | 0.87 | 0.94 | 1.26 | 0.86 | 1.23 | 1.28 | 1.64 | 1.67 |
| P/FCF | 17.18 | 13.22 | 8.22 | 7.72 | 2.89 | 6.57 | 83.00 | 37.51 | 13.43 | 14.09 | 27.14 |
| P/OCF | 16.48 | 12.68 | 8.05 | 7.23 | 2.72 | 7.38 | — | 33.86 | 11.17 | 12.80 | 14.01 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.51 | 0.55 | 0.63 | 0.32 | 0.55 | -0.67 | 3.65 | 3.97 | 5.50 | 5.22 |
| EV / EBITDA | 8.00 | 5.96 | 6.25 | 2.37 | 0.76 | 1.28 | -5.07 | 12.22 | 14.55 | 15.65 | 16.59 |
| EV / EBIT | 8.68 | 6.46 | 8.02 | 2.55 | 0.81 | 1.41 | -7.34 | 14.02 | 15.74 | 16.59 | 18.16 |
| EV / FCF | — | 11.55 | 3.65 | 4.10 | 0.50 | 1.23 | -29.37 | 53.74 | 20.03 | 22.30 | 37.06 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 51.6% | 51.6% | 32.9% | 50.9% | 76.3% | 84.6% | 62.4% | 66.4% | 67.6% | 76.0% | 75.2% |
| Operating Margin | 23.3% | 23.3% | 6.8% | 24.9% | 39.7% | 38.9% | 9.1% | 26.0% | 25.2% | 33.1% | 28.8% |
| Net Profit Margin | 16.9% | 16.9% | 5.0% | 19.0% | 30.9% | 30.5% | 7.3% | 20.7% | 20.8% | 18.2% | 19.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.3% | 12.3% | 3.6% | 14.5% | 17.0% | 14.0% | 3.3% | 10.2% | 10.4% | 9.0% | 8.9% |
| ROA | 1.1% | 1.1% | 0.3% | 1.1% | 1.3% | 1.1% | 0.3% | 1.0% | 0.9% | 0.8% | 0.8% |
| ROIC | 8.0% | 8.0% | 2.3% | 8.8% | 10.5% | 7.7% | 1.5% | 4.8% | 4.3% | 5.3% | 4.5% |
| ROCE | 4.4% | 4.4% | 2.8% | 11.0% | 14.0% | 10.2% | 2.0% | 6.4% | 5.7% | 7.0% | 6.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.60 | 0.60 | 0.59 | 0.60 | 0.67 | 0.42 | 1.13 | 0.96 | 1.06 | 1.39 | 1.27 |
| Debt / EBITDA | 3.42 | 3.42 | 9.32 | 3.08 | 3.10 | 2.26 | 18.93 | 6.66 | 8.09 | 8.41 | 9.23 |
| Net Debt / Equity | — | -0.15 | -0.50 | -0.41 | -0.78 | -1.03 | -1.16 | 0.53 | 0.63 | 0.95 | 0.61 |
| Net Debt / EBITDA | -0.86 | -0.86 | -7.84 | -2.10 | -3.62 | -5.53 | -19.39 | 3.69 | 4.80 | 5.76 | 4.44 |
| Debt / FCF | — | -1.67 | -4.57 | -3.62 | -2.39 | -5.34 | -112.37 | 16.23 | 6.60 | 8.21 | 9.92 |
| Interest Coverage | 0.49 | 0.49 | 0.12 | 0.51 | 2.07 | 2.51 | 0.32 | 0.79 | 0.89 | 1.49 | 1.54 |
Net cash position: cash ($225M) exceeds total debt ($180M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.89 | 1.89 | 0.12 | 0.11 | 0.16 | 0.18 | 0.27 | 0.11 | 0.12 | 0.12 | 0.15 |
| Quick Ratio | 1.89 | 1.89 | 0.12 | 0.11 | 0.16 | 0.18 | 0.27 | 0.11 | 0.12 | 0.12 | 0.15 |
| Cash Ratio | 0.14 | 0.14 | 0.11 | 0.10 | 0.12 | 0.13 | 0.22 | 0.05 | 0.05 | 0.05 | 0.07 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.04 | 0.04 | 0.04 | 0.05 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 1.7% | 2.6% | 2.7% | 2.8% | 2.0% | 2.9% | 1.8% | 1.7% | 0.8% | 0.7% |
| Payout Ratio | 17.8% | 17.8% | 64.3% | 17.0% | 16.5% | 18.9% | 74.3% | 22.4% | 21.6% | 15.5% | 13.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.6% | 9.7% | 3.9% | 15.5% | 16.3% | 10.2% | 3.8% | 8.0% | 7.7% | 5.2% | 5.0% |
| FCF Yield | 5.8% | 7.6% | 12.2% | 12.9% | 34.6% | 15.2% | 1.2% | 2.7% | 7.4% | 7.1% | 3.7% |
| Buyback Yield | 0.3% | 0.4% | 0.9% | 0.0% | 2.5% | 2.0% | 0.7% | 0.4% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.7% | 2.1% | 3.5% | 2.7% | 5.2% | 4.0% | 3.6% | 2.3% | 1.7% | 0.8% | 0.7% |
| Shares Outstanding | — | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $7M |
CRE concentration and funding
Based on recent market data, BWFG trades at a P/B of 1.55, which appears to incorporate a persistent concentration discount relative to broader regional peers, suggesting that investors remain cautious regarding the bank's singular geographic focus on the Fairfield County commercial real estate market and its associated risks.
The current valuation multiple implies that the market is pricing the bank as a commodity balance sheet rather than a premium franchise, likely due to the limited geographic diversification. Investors should monitor whether the forward P/E of 11.03 can be sustained if the bank fails to improve its return on tangible equity beyond current low-single-digit levels.
As reported in financial statements, the bank's ROE has struggled to exceed 3.7% in 2026Q1, a trend that appears fundamentally constrained by a compressed net interest margin that has hovered between 0.6% and 0.8% over the last ten quarters, limiting the bank's ability to generate meaningful shareholder returns.
The DuPont decomposition suggests that profitability is currently hampered by the inability of asset yields to outpace the rising cost of interest-bearing deposits. Without a structural improvement in the net interest margin or a significant increase in non-interest income contribution, the bank's ROE will likely remain under pressure regardless of its leverage profile.
According to quarterly filings, the net interest margin has remained stagnant at 0.8% as of 2026Q1, indicating that the bank's funding costs are effectively neutralizing the benefits of its commercial loan portfolio growth, despite management maintaining a disciplined efficiency ratio that has stayed within the 25-31% range.
The stability of the efficiency ratio suggests that management is successfully controlling non-interest expenses, yet this operational discipline is insufficient to offset the margin headwinds. The bank appears to be caught in a cycle where it must offer competitive deposit rates to retain its affluent client base, which directly limits the potential for margin expansion.
Based on the reported equity-to-assets ratio of 0.09, the bank maintains an adequate capital buffer that has remained consistent over the last three quarters, providing a stable foundation for its current risk-weighted asset profile while navigating the complexities of its commercial real estate lending concentration.
The bank's capital position appears sufficient to support current growth, but the high concentration in CRE warrants further investigation regarding potential regulatory capital requirements. Investors should monitor whether management chooses to deploy this capital for further expansion or if they will prioritize maintaining these buffers to mitigate potential credit volatility.
The P/E ratio is the most commonly misapplied metric for BWFG, as it obscures the significant volatility in earnings caused by periodic adjustments to the allowance for credit losses under the CECL accounting framework, which can artificially inflate or deflate reported net income in any given quarter.
Using P/E to value this bank is misleading because it fails to account for the non-cash nature of provision swings, which do not reflect the underlying operational health of the franchise. Analysts should instead focus on P/TBV and core pre-provision net revenue to better assess the bank's true earnings power and valuation relative to its peers.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying BWFG stock.
Bankwell Financial Group, Inc.'s current P/E ratio is 13.1x. The historical average is 31.6x. This places it at the 38th percentile of its historical range.
Bankwell Financial Group, Inc.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.9x.
Bankwell Financial Group, Inc.'s return on equity (ROE) is 12.3%. The historical average is 5.7%.
Based on historical data, Bankwell Financial Group, Inc. is trading at a P/E of 13.1x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Bankwell Financial Group, Inc.'s current dividend yield is 1.37% with a payout ratio of 17.8%.
Bankwell Financial Group, Inc. has 51.6% gross margin and 23.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Bankwell Financial Group, Inc.'s Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.