Bankwell Financial Group, Inc. (BWFG) Income Statement
BWFG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBWFG revenue and net income
Where BWFG's revenue goes
2025Each bar shows an amount and its share of revenue. BWFG kept 16.9% of revenue as net income.
BWFG profit margins
BWFG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.1% | +19.7% | +20.9% | +14.4% |
| Gross profit | +66.6% | +5.1% | +16.4% | +9.6% |
| Operating income | +263.8% | +0.4% | +46.0% | +13.3% |
| Net income | +260.3% | −2.0% | +42.9% | +14.6% |
| EPS (diluted) | +276.3% | −2.6% | +32.7% | +13.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BWFG quarterly EPS vs estimates
Bankwell Financial beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.41).
BWFG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $207.7M | $195.7M | $193.3M | $121.0M | $87.0M | $80.4M | $88.2M | $84.0M | $75.8M | $63.7M |
| Cost of revenue | $100.4M | $131.3M | $94.9M | $28.6M | $13.4M | $30.3M | $29.6M | $27.2M | $18.2M | $15.8M |
| Gross profit | $107.3M | $64.4M | $98.4M | $92.3M | $73.6M | $50.1M | $58.6M | $56.8M | $57.7M | $47.9M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $34.9M | $29.4M | $31.2M | $25.6M | $21.3M | $24.0M | $21.3M | $22.4M | $19.5M | $18.1M |
| Total operating expenses | $58.8M | $51.1M | $50.4M | $44.4M | $39.7M | $42.8M | $35.6M | $35.6M | $32.5M | $29.5M |
| Operating income | $48.5M | $13.3M | $48.0M | $48.0M | $33.9M | $7.3M | $22.9M | $21.2M | $25.1M | $18.3M |
| Interest income | $198.3M | $192.0M | $178.7M | $117.9M | $81.4M | $77.5M | $82.9M | $80.1M | $71.2M | $61.0M |
| Interest expense | $99.4M | $108.7M | $94.0M | $23.2M | $13.5M | $22.7M | $29.2M | $23.7M | $16.8M | $11.9M |
| Income before taxes | $48.5M | $13.3M | $48.0M | $48.0M | $33.9M | $7.3M | $22.9M | $21.2M | $25.1M | $18.3M |
| Income taxes | $13.3M | $3.6M | $11.4M | $10.6M | $7.3M | $1.4M | $4.7M | $3.7M | $11.3M | $6.0M |
| Net income | $35.2M | $9.8M | $36.7M | $37.4M | $26.6M | $5.9M | $18.2M | $17.4M | $13.8M | $12.3M |
| EBITDA | $52.6M | $17.1M | $51.7M | $51.3M | $37.4M | $10.6M | $26.3M | $22.9M | $26.6M | $20.0M |
| EPS (diluted) | $4.44 | $1.18 | $4.69 | $4.81 | $3.36 | $1.08 | $2.32 | $2.17 | $2.05 | $1.62 |
| Gross margin | 51.6% | 32.9% | 50.9% | 76.3% | 84.6% | 62.4% | 66.4% | 67.6% | 76.0% | 75.2% |
| Operating margin | 23.3% | 6.8% | 24.9% | 39.7% | 38.9% | 9.1% | 26.0% | 25.2% | 33.1% | 28.8% |
| Net margin | 16.9% | 5.0% | 19.0% | 30.9% | 30.5% | 7.3% | 20.7% | 20.8% | 18.2% | 19.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $55.5M | $54.1M | $54.0M | $53.1M | $50.7M | $50.0M | $48.8M | $49.3M | $48.4M | $49.2M | $50.5M | $49.0M |
| Cost of revenue | $24.0M | $22.6M | $24.3M | $25.0M | $24.3M | $26.9M | $32.1M | $33.8M | $34.6M | $30.8M | $26.2M | $24.0M |
| Gross profit | $31.6M | $31.5M | $29.7M | $28.1M | $26.4M | $23.1M | $16.7M | $15.6M | $13.7M | $18.4M | $24.3M | $25.1M |
| Sales, general & admin | $13.7M | $12.7M | $8.8M | $9.1M | $8.8M | $8.3M | $6.4M | $7.4M | $7.3M | $8.2M | $7.9M | $7.6M |
| Total operating expenses | $15.2M | $17.1M | $15.5M | $14.6M | $14.5M | $14.1M | $12.6M | $12.9M | $12.2M | $13.3M | $12.9M | $12.2M |
| Operating income | $16.3M | $14.4M | $14.2M | $13.5M | $11.8M | $9.0M | $4.1M | $2.7M | $1.5M | $5.1M | $11.5M | $12.9M |
| Interest income | $52.2M | $50.5M | $50.6M | $50.6M | $48.6M | $48.5M | $47.8M | $48.2M | $47.7M | $48.3M | $49.4M | $48.3M |
| Interest expense | $22.7M | $23.6M | $23.7M | $24.6M | $24.7M | $26.4M | $27.6M | $27.5M | $26.5M | $27.1M | $27.1M | $25.6M |
| Income before taxes | $16.3M | $14.4M | $14.2M | $13.5M | $11.8M | $9.0M | $4.1M | $2.7M | $1.5M | $5.1M | $11.5M | $12.9M |
| Income taxes | $3.9M | $3.1M | $5.1M | $3.4M | $2.7M | $2.1M | $1.1M | $786,000 | $356,000 | $1.3M | $2.9M | $3.1M |
| Net income | $12.4M | $11.3M | $9.1M | $10.1M | $9.1M | $6.9M | $3.0M | $1.9M | $1.1M | $3.8M | $8.5M | $9.8M |
| EBITDA | $17.4M | $15.5M | $15.3M | $14.5M | $12.8M | $9.9M | $5.0M | $3.6M | $2.4M | $6.0M | $12.4M | $13.8M |
| EPS (diluted) | $1.52 | $1.41 | $1.15 | $1.27 | $1.15 | $0.87 | $0.32 | $0.24 | $0.14 | $0.48 | $1.09 | $1.25 |
| Gross margin | 56.8% | 58.2% | 55.0% | 53.0% | 52.0% | 46.2% | 34.2% | 31.6% | 28.4% | 37.4% | 48.2% | 51.1% |
| Operating margin | 29.4% | 26.6% | 26.4% | 25.4% | 23.3% | 17.9% | 8.3% | 5.5% | 3.0% | 10.3% | 22.7% | 26.2% |
| Net margin | 22.3% | 20.8% | 16.9% | 19.0% | 17.9% | 13.8% | 6.1% | 3.9% | 2.3% | 7.6% | 16.9% | 19.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BWFG's financial statements (latest annual report filed March 4, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BWFG financial results
In fiscal year 2025 (ended December 31, 2025), Bankwell Financial reported revenue of $207.7 million, up 6.1% from the year before. It had net income of $35.2 million (up 260.3%), a net profit margin of 16.9%. Diluted earnings per share came to $4.44. Over five years revenue grew at an average rate of 20.9% a year.
See the BWFG stock overview for the latest quote and news, or the BWFG chart for price history and technical indicators.
BWFG income statement FAQ
What is Bankwell Financial's annual revenue?
Bankwell Financial reported total revenue of $207.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 6.1% from $195.7 million the previous year.
Is Bankwell Financial profitable?
Yes. Bankwell Financial reported net income of $35.2 million in fiscal 2025, a net profit margin of 16.9%; its operating margin was 23.3%.
What is Bankwell Financial's gross margin?
Bankwell Financial's gross margin was 51.6% in fiscal 2025: for every $100 of revenue, Bankwell Financial kept $52 after the direct cost of its products and services.
How fast is Bankwell Financial growing?
Revenue grew 20.9% a year on average over the last five fiscal years, from $80.4 million to $207.7 million.
What are Bankwell Financial's earnings per share?
Bankwell Financial earned $4.44 per diluted share in fiscal 2025, compared with $1.18 a year earlier.
When will Bankwell Financial report its next earnings?
Bankwell Financial is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Bankwell Financial's fiscal year end?
Bankwell Financial's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 4, 2026.