ChoiceOne Financial Services, Inc. (COFS) Income Statement
COFS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCOFS revenue and net income
Where COFS's revenue goes
2025Each bar shows an amount and its share of revenue. COFS kept 14.6% of revenue as net income.
COFS profit margins
COFS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +38.7% | +29.3% | +19.7% | +21.7% |
| Gross profit | +22.2% | +11.4% | +10.0% | +15.8% |
| Operating income | +3.3% | +7.3% | +12.6% | +16.1% |
| Net income | +5.4% | +6.0% | +12.5% | +17.2% |
| EPS (diluted) | +8.6% | +5.1% | +12.1% | +9.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
COFS quarterly EPS vs estimates
ChoiceOne Financial Services beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 23, 2026 (estimate $0.93).
COFS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $192.9M | $139.1M | $113.9M | $89.1M | $83.8M | $78.4M | $41.6M | $31.4M | $28.9M | $28.2M |
| Cost of revenue | $80.7M | $47.3M | $33.2M | $8.0M | $4.4M | $8.6M | $4.7M | $2.5M | $2.0M | $969,000 |
| Gross profit | $112.2M | $91.8M | $80.6M | $81.1M | $79.4M | $69.8M | $36.9M | $28.9M | $27.0M | $27.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $63.0M | $35.5M | $33.9M | $31.9M | $31.0M | $27.6M | $14.9M | $11.5M | $10.7M | $10.4M |
| Total operating expenses | $78.0M | $58.7M | $55.1M | $53.5M | $52.9M | $50.9M | $28.5M | $20.5M | $18.4M | $19.0M |
| Operating income | $34.2M | $33.1M | $25.6M | $27.7M | $26.5M | $18.9M | $8.5M | $8.5M | $8.6M | $8.3M |
| Interest income | $203.0M | $121.1M | $99.0M | $75.1M | $64.6M | $55.7M | $32.5M | $24.5M | $22.0M | $20.3M |
| Interest expense | $65.9M | $46.7M | $33.1M | $7.7M | $4.0M | $4.6M | $4.7M | $2.5M | $1.5M | $969,000 |
| Income before taxes | $34.2M | $33.1M | $25.6M | $27.7M | $26.5M | $18.9M | $8.5M | $8.5M | $8.6M | $8.3M |
| Income taxes | $6.0M | $6.4M | $4.3M | $4.0M | $4.5M | $3.3M | $1.3M | $1.2M | $2.4M | $2.2M |
| Net income | $28.2M | $26.7M | $21.3M | $23.6M | $22.0M | $15.6M | $7.2M | $7.3M | $6.2M | $6.1M |
| EBITDA | $54.1M | $45.4M | $38.0M | $41.0M | $38.9M | $26.6M | $11.6M | $10.6M | $11.0M | $10.9M |
| EPS (diluted) | $3.66 | $3.37 | $2.82 | $3.15 | $2.86 | $2.07 | $1.52 | $2.00 | $1.75 | $1.71 |
| Gross margin | 58.2% | 66.0% | 70.8% | 91.0% | 94.8% | 89.0% | 88.7% | 92.1% | 93.2% | 96.6% |
| Operating margin | 17.7% | 23.8% | 22.4% | 31.0% | 31.6% | 24.1% | 20.3% | 27.0% | 29.6% | 29.3% |
| Net margin | 14.6% | 19.2% | 18.7% | 26.5% | 26.3% | 19.9% | 17.2% | 23.3% | 21.3% | 21.6% |
| 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 | $1.2M | $59.1M | $60.5M | $61.8M | $60.4M | $44.9M | $36.0M | $36.6M | $34.0M | $32.5M | $32.0M | $30.0M |
| Cost of revenue | $16.6M | $16.6M | $18.3M | $17.3M | $18.3M | $26.8M | $11.9M | $11.9M | $11.6M | $12.0M | $11.8M | $10.1M |
| Gross profit | −$15.4M | $42.5M | $42.1M | $44.5M | $42.2M | $18.1M | $24.1M | $24.7M | $22.5M | $20.5M | $20.2M | $19.9M |
| Sales, general & admin | $1.3M | $1.2M | $15.3M | $14.9M | $14.5M | $11.0M | $9.4M | $8.9M | $8.9M | $8.4M | $8.5M | $8.6M |
| Total operating expenses | $1.3M | $25.8M | $25.3M | $26.2M | $25.5M | $35.7M | $15.3M | $15.4M | $14.3M | $13.7M | $13.8M | $13.7M |
| Operating income | −$16.7M | $16.7M | $16.8M | $18.3M | $16.7M | −$17.6M | $8.8M | $9.3M | $8.2M | $6.8M | $6.4M | $6.2M |
| Interest income | $53.9M | $53.3M | $54.4M | $54.7M | $53.9M | $40.0M | $31.0M | $31.7M | $29.9M | $28.4M | $28.0M | $26.3M |
| Interest expense | $17.2M | $16.6M | $17.5M | $17.1M | $17.6M | $13.6M | $11.7M | $11.4M | $11.6M | $12.0M | $11.4M | $10.1M |
| Income before taxes | $15.0M | $16.7M | $16.8M | $18.3M | $16.7M | −$17.6M | $8.8M | $9.3M | $8.2M | $6.8M | $6.4M | $6.2M |
| Income taxes | $2.6M | $3.0M | $2.9M | $3.6M | $3.1M | −$3.7M | $1.6M | $1.9M | $1.6M | $1.2M | $1.2M | $1.1M |
| Net income | $12.5M | $13.7M | $13.9M | $14.7M | $13.5M | −$13.9M | $7.2M | $7.3M | $6.6M | $5.6M | $5.3M | $5.1M |
| EBITDA | −$11.9M | $21.6M | $22.1M | $23.8M | $22.1M | −$14.0M | $12.0M | $12.4M | $11.2M | $9.9M | $9.5M | $9.4M |
| EPS (diluted) | $0.93 | $0.91 | $0.92 | $0.97 | $0.91 | $0.86 | $0.83 | $0.93 | $0.87 | $0.74 | $0.70 | $0.68 |
| Gross margin | −1,231.7% | 71.9% | 69.7% | 72.0% | 69.8% | 40.3% | 67.0% | 67.5% | 66.0% | 63.2% | 63.2% | 66.4% |
| Operating margin | −1,335.5% | 28.2% | 27.8% | 29.6% | 27.6% | −39.2% | 24.4% | 25.4% | 24.0% | 21.1% | 20.1% | 20.7% |
| Net margin | 997.8% | 23.2% | 22.9% | 23.7% | 22.4% | −31.0% | 19.9% | 20.1% | 19.4% | 17.3% | 16.5% | 17.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in COFS's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
COFS financial results
In fiscal year 2025 (ended December 31, 2025), ChoiceOne Financial Services reported revenue of $192.9 million, up 38.7% from the year before. It had net income of $28.2 million (up 5.4%), a net profit margin of 14.6%. Diluted earnings per share came to $3.66. Over five years revenue grew at an average rate of 19.7% a year.
See the COFS stock overview for the latest quote and news, or the COFS chart for price history and technical indicators.
COFS income statement FAQ
What is ChoiceOne Financial Services's annual revenue?
ChoiceOne Financial Services reported total revenue of $192.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 38.7% from $139.1 million the previous year.
Is ChoiceOne Financial Services profitable?
Yes. ChoiceOne Financial Services reported net income of $28.2 million in fiscal 2025, a net profit margin of 14.6%; its operating margin was 17.7%.
What is ChoiceOne Financial Services's gross margin?
ChoiceOne Financial Services's gross margin was 58.2% in fiscal 2025: for every $100 of revenue, ChoiceOne Financial Services kept $58 after the direct cost of its products and services.
How fast is ChoiceOne Financial Services growing?
Revenue grew 19.7% a year on average over the last five fiscal years, from $78.4 million to $192.9 million.
What are ChoiceOne Financial Services's earnings per share?
ChoiceOne Financial Services earned $3.66 per diluted share in fiscal 2025, compared with $3.37 a year earlier.
When will ChoiceOne Financial Services report its next earnings?
ChoiceOne Financial Services is expected to report results for the quarter ending September 30, 2026 on October 23, 2026 before the market opens.
When does ChoiceOne Financial Services's fiscal year end?
ChoiceOne Financial Services's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.