Shore Bancshares, Inc. (SHBI) Income Statement
SHBI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSHBI revenue and net income
Where SHBI's revenue goes
2025Each bar shows an amount and its share of revenue. SHBI kept 17.4% of revenue as net income.
SHBI profit margins
SHBI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +5.0% | +35.8% | +37.2% | +20.4% |
| Gross profit | +10.0% | +21.0% | +29.5% | +16.2% |
| Operating income | +34.0% | +23.1% | +30.2% | +21.2% |
| Net income | +35.6% | +24.0% | +30.5% | +23.7% |
| EPS (diluted) | +33.8% | +3.4% | +7.0% | +12.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SHBI quarterly EPS vs estimates
Shore Bancshares beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 22, 2026 (estimate $0.53).
SHBI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $342.7M | $326.5M | $238.4M | $136.9M | $83.7M | $70.4M | $69.8M | $64.4M | $55.6M | $56.8M |
| Cost of revenue | $126.0M | $129.5M | $109.7M | $14.5M | $5.7M | $11.0M | $10.3M | $6.9M | $4.6M | $4.3M |
| Gross profit | $216.7M | $197.0M | $128.7M | $122.5M | $78.0M | $59.4M | $59.5M | $57.5M | $51.1M | $52.5M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $85.9M | $72.5M | $61.6M | $49.0M | $31.7M | $23.8M | $23.3M | $23.6M | $21.3M | $24.6M |
| Total operating expenses | $138.0M | $138.3M | $114.5M | $80.3M | $56.8M | $38.4M | $37.6M | $36.3M | $33.1M | $36.6M |
| Operating income | $78.7M | $58.7M | $14.2M | $42.1M | $21.2M | $21.0M | $21.9M | $21.1M | $18.0M | $15.9M |
| Interest income | $310.0M | $295.3M | $175.2M | $113.8M | $70.2M | $59.7M | $59.8M | $55.9M | $47.8M | $40.7M |
| Interest expense | $117.7M | $124.8M | $78.8M | $12.5M | $6.0M | $7.1M | $9.6M | $5.3M | $2.3M | $2.4M |
| Income before taxes | $78.7M | $58.7M | $14.2M | $42.1M | $21.2M | $21.0M | $21.9M | $21.1M | $18.0M | $15.9M |
| Income taxes | $19.1M | $14.8M | $3.0M | $11.0M | $5.8M | $5.3M | $5.6M | $5.4M | $8.7M | $6.3M |
| Net income | $59.5M | $43.9M | $11.2M | $31.2M | $15.4M | $15.7M | $16.2M | $25.0M | $11.3M | $9.6M |
| EBITDA | $94.0M | $74.7M | $25.1M | $48.0M | $24.3M | $23.5M | $24.3M | $23.4M | $19.6M | $18.3M |
| EPS (diluted) | $1.78 | $1.33 | $0.95 | $1.61 | $1.58 | $1.27 | $1.28 | $1.32 | $0.95 | $0.76 |
| Gross margin | 63.2% | 60.3% | 54.0% | 89.4% | 93.2% | 84.4% | 85.2% | 89.2% | 91.8% | 92.5% |
| Operating margin | 23.0% | 18.0% | 5.9% | 30.8% | 25.3% | 29.9% | 31.4% | 32.8% | 32.3% | 28.0% |
| Net margin | 17.4% | 13.4% | 4.7% | 22.8% | 18.4% | 22.3% | 23.2% | 38.8% | 20.2% | 17.0% |
| 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 | $86.8M | $85.6M | $88.8M | $84.9M | $85.9M | $83.1M | $85.3M | $82.0M | $81.5M | $77.7M | $78.7M | $77.4M |
| Cost of revenue | $25.9M | $25.9M | $32.5M | $31.5M | $30.9M | $31.1M | $33.2M | $32.9M | $33.0M | $30.4M | $30.5M | $53.8M |
| Gross profit | $60.9M | $59.7M | $56.3M | $53.4M | $55.0M | $52.0M | $52.1M | $49.1M | $48.5M | $47.3M | $48.2M | $23.6M |
| Sales, general & admin | $29.0M | $23.1M | $27.4M | $20.4M | $19.0M | $17.9M | $18.7M | $28.7M | $18.3M | $33.2M | $18.4M | $18.7M |
| Total operating expenses | $35.7M | $37.1M | $35.5M | $34.4M | $34.4M | $33.7M | $33.9M | $34.1M | $33.5M | $36.7M | $37.0M | $38.3M |
| Operating income | $25.2M | $22.7M | $20.8M | $19.0M | $20.6M | $18.3M | $18.1M | $15.0M | $15.0M | $10.6M | $11.2M | −$14.7M |
| Interest income | $77.4M | $78.4M | $80.2M | $77.2M | $76.6M | $76.1M | $76.4M | $74.7M | $73.1M | $71.1M | $71.1M | $71.2M |
| Interest expense | $25.8M | $25.8M | $29.7M | $28.5M | $29.4M | $30.0M | $32.4M | $31.4M | $31.0M | $30.0M | $29.6M | $25.6M |
| Income before taxes | $25.2M | $22.7M | $20.8M | $19.0M | $20.6M | $18.3M | $18.1M | $15.0M | $15.0M | $10.6M | $11.2M | −$14.7M |
| Income taxes | $6.3M | $5.6M | $4.9M | $4.6M | $5.1M | $4.5M | $4.9M | $3.8M | $3.8M | $2.4M | $4.0M | −$5.0M |
| Net income | $18.9M | $17.1M | $15.9M | $14.3M | $15.5M | $13.8M | $13.3M | $11.2M | $11.2M | $8.2M | $7.1M | −$9.7M |
| EBITDA | $28.8M | $26.2M | $24.4M | $22.6M | $24.7M | $22.3M | $22.1M | $18.8M | $19.1M | $14.7M | $15.2M | −$10.6M |
| EPS (diluted) | $0.60 | $0.51 | $0.48 | $0.43 | $0.46 | $0.41 | $0.40 | $0.34 | $0.34 | $0.25 | $0.33 | $0.10 |
| Gross margin | 70.1% | 69.7% | 63.4% | 62.9% | 64.0% | 62.6% | 61.1% | 59.9% | 59.5% | 60.9% | 61.2% | 30.5% |
| Operating margin | 29.0% | 26.5% | 23.4% | 22.4% | 24.0% | 22.0% | 21.3% | 18.3% | 18.4% | 13.6% | 14.2% | −19.0% |
| Net margin | 21.7% | 20.0% | 17.9% | 16.9% | 18.0% | 16.6% | 15.6% | 13.6% | 13.8% | 10.5% | 9.1% | −12.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SHBI's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SHBI financial results
In fiscal year 2025 (ended December 31, 2025), Shore Bancshares reported revenue of $342.7 million, up 5.0% from the year before. It had net income of $59.5 million (up 35.6%), a net profit margin of 17.4%. Diluted earnings per share came to $1.78. Over five years revenue grew at an average rate of 37.2% a year.
See the SHBI stock overview for the latest quote and news, or the SHBI chart for price history and technical indicators.
SHBI income statement FAQ
What is Shore Bancshares's annual revenue?
Shore Bancshares reported total revenue of $342.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 5.0% from $326.5 million the previous year.
Is Shore Bancshares profitable?
Yes. Shore Bancshares reported net income of $59.5 million in fiscal 2025, a net profit margin of 17.4%; its operating margin was 23.0%.
What is Shore Bancshares's gross margin?
Shore Bancshares's gross margin was 63.2% in fiscal 2025: for every $100 of revenue, Shore Bancshares kept $63 after the direct cost of its products and services.
How fast is Shore Bancshares growing?
Revenue grew 37.2% a year on average over the last five fiscal years, from $70.4 million to $342.7 million.
What are Shore Bancshares's earnings per share?
Shore Bancshares earned $1.78 per diluted share in fiscal 2025, compared with $1.33 a year earlier.
When will Shore Bancshares report its next earnings?
Shore Bancshares is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 after the market closes.
When does Shore Bancshares's fiscal year end?
Shore Bancshares's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.