Bridgewater Bancshares, Inc. (BWB) Key Metrics
BWB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $574.4M
- Enterprise value
- $889.2M
- P/E (TTM)
- 11.2 10-yr median 11.4
- Forward P/E
- 11.2
- PEG ratio
- 0.73
- Price / sales
- 3.6 10-yr median 3.0
- Price / book
- 1.2 10-yr median 1.3
- EV / EBITDA
- — 10-yr median 4.6
- Dividend yield
- —
- Beta
- 0.63
BWB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBWB valuation Price multiples at each fiscal year-end price.
BWB returns How much profit the business earns on the capital it uses.
BWB per-share figures Results divided by the shares outstanding at year-end.
BWB financial health Debt, liquidity and how easily interest is covered.
BWB efficiency & capital use Working capital cycle and where the cash goes.
BWB valuation history
BWB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BWB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BWB cash returned to shareholders
BWB price vs earnings per share
BWB key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $502.3M | $377.5M | $382.8M | $508.6M | $512.4M | $364.3M | $413.4M | $310.5M | — | — |
| Enterprise value | $560.7M | $210.6M | $62.7M | $348.4M | $62.5M | −$47.6M | $263.1M | $207.1M | — | — |
| P/E ratio | 10.9 | 11.5 | 9.6 | 9.5 | 11.2 | 13.4 | 13.2 | 11.5 | — | — |
| Price / sales | 1.7 | 1.5 | 1.7 | 3.0 | 3.8 | 3.0 | 3.8 | 3.5 | — | — |
| Price / book | 1.0 | 0.8 | 0.9 | 1.3 | 1.4 | 1.4 | 1.7 | 1.4 | — | — |
| Price / free cash flow | 22.9 | 8.9 | 14.2 | 6.1 | 9.6 | — | 17.3 | 12.1 | — | — |
| Price / operating cash flow | 18.1 | 8.1 | 12.8 | 6.0 | 9.4 | 15.8 | 10.5 | 10.6 | — | — |
| EV / sales | 1.9 | 0.8 | 0.3 | 2.1 | 0.5 | -0.4 | 2.4 | 2.4 | — | — |
| EV / EBITDA | 8.6 | 4.6 | 1.1 | 4.6 | 1.0 | — | 6.7 | 6.3 | — | — |
| EV / free cash flow | 25.5 | 5.0 | 2.3 | 4.2 | 1.2 | — | 11.0 | 8.1 | — | — |
| Earnings yield | 9.2% | 8.7% | 10.4% | 10.5% | 8.9% | 7.5% | 7.6% | 8.7% | — | — |
| Free cash flow yield | 4.4% | 11.2% | 7.1% | 16.4% | 10.4% | −0.5% | 5.8% | 8.3% | — | — |
| Dividend yield | 0.8% | 1.1% | 1.1% | 0.8% | 0.2% | 0.1% | 0.1% | 0.4% | — | — |
| Shareholder yield (dividends + buybacks) | 1.2% | 2.6% | 2.4% | 3.1% | 0.8% | 2.9% | 3.7% | 0.4% | — | — |
| Share price at fiscal year-end | $17.53 | $13.51 | $13.52 | $17.74 | $17.69 | $12.49 | $13.78 | $10.55 | — | — |
| Per share | ||||||||||
| Revenue per share | $10.18 | $9.00 | $8.01 | $5.91 | $4.63 | $4.14 | $3.59 | $2.98 | $2.37 | $1.77 |
| Earnings per share | $1.61 | $1.17 | $1.41 | $1.86 | $1.58 | $0.93 | $1.05 | $0.91 | $0.58 | $0.44 |
| Operating cash flow per share | $0.97 | $1.66 | $1.06 | $2.96 | $1.87 | $0.79 | $1.32 | $1.00 | $0.86 | $0.50 |
| Free cash flow per share | $0.77 | $1.51 | $0.96 | $2.91 | $1.85 | −$0.06 | $0.80 | $0.87 | $0.81 | $0.42 |
| Cash per share | $15.70 | $22.18 | $25.87 | $22.21 | $20.18 | $19.00 | $10.82 | $9.69 | $8.82 | $7.93 |
| Book value per share | $18.05 | $16.39 | $15.03 | $13.75 | $13.09 | $9.10 | $8.16 | $7.51 | $4.72 | $3.84 |
| Tangible book value per share | $17.39 | $15.68 | $14.93 | $13.64 | $12.99 | $8.99 | $8.04 | $7.38 | $4.59 | $3.70 |
| Dividends per share | $0.14 | $0.15 | $0.14 | $0.14 | $0.04 | $0.01 | $0.01 | $0.04 | — | — |
| Capex per share | $0.20 | $0.15 | $0.10 | $0.06 | $0.03 | $0.85 | $0.52 | $0.13 | $0.04 | $0.07 |
| Debt per share | $17.74 | $16.21 | $14.57 | $16.63 | $4.65 | $4.88 | $5.81 | $6.17 | $4.56 | $3.86 |
| Shares outstanding | 28.7M | 27.9M | 28.3M | 28.7M | 29.0M | 29.2M | 30.0M | 29.4M | 29.1M | 30.1M |
| Change in shares outstanding | +2.5% | −1.3% | −1.2% | −1.0% | −0.7% | −2.8% | +1.9% | +1.3% | −3.3% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.5% | 7.4% | 9.8% | 13.8% | 14.2% | 10.7% | 13.5% | 15.0% | 13.4% | 11.5% |
| Return on invested capital (ROIC) | 10.9% | 16.6% | 23.6% | 65.4% | — | — | 29.6% | 41.1% | 520.8% | — |
| Return on assets (ROA) | 0.9% | 0.7% | 0.9% | 1.4% | 1.4% | 1.0% | 1.5% | 1.5% | 1.2% | 1.0% |
| Return on tangible assets | 0.9% | 0.7% | 0.9% | 1.2% | 1.3% | 0.9% | 1.4% | 1.4% | 1.0% | 1.1% |
| Free cash flow margin | 7.5% | 16.8% | 11.9% | 49.2% | 39.8% | −1.4% | 22.3% | 29.3% | 34.4% | 23.9% |
| Income quality (OCF / net income) | 0.60 | 1.41 | 0.75 | 1.59 | 1.19 | 0.85 | 1.26 | 1.09 | 1.47 | 1.13 |
| Financial health | ||||||||||
| Total debt | $508.2M | $452.9M | $412.5M | $476.7M | $134.7M | $142.2M | $174.2M | $181.6M | $132.5M | $116.0M |
| Cash & short-term investments | $449.7M | $619.8M | $732.7M | $636.8M | $584.7M | $554.2M | $324.5M | $285.1M | $256.3M | $238.3M |
| Net debt | $58.5M | −$166.9M | −$320.1M | −$160.2M | −$450.0M | −$411.9M | −$150.2M | −$103.5M | −$123.8M | −$122.3M |
| Debt / equity | 0.98 | 0.99 | 0.97 | 1.21 | 0.36 | 0.54 | 0.71 | 0.82 | 0.97 | 1.01 |
| Debt / assets | 0.09 | 0.09 | 0.09 | 0.11 | 0.04 | 0.05 | 0.08 | 0.09 | 0.08 | 0.09 |
| Net debt / EBITDA | 0.89 | −3.65 | −5.75 | −2.14 | −7.02 | −11.11 | −3.80 | −3.13 | −4.43 | −5.57 |
| Current ratio | 0.11 | 0.17 | 0.20 | 0.18 | 0.20 | 0.23 | 0.18 | 0.18 | 0.19 | 0.23 |
| Quick ratio | 0.11 | 0.17 | 0.17 | 0.20 | 0.25 | 0.29 | 0.20 | 0.18 | 0.19 | 0.22 |
| Interest coverage | 0.4 | 0.3 | 0.4 | 2.1 | 3.2 | 1.3 | 1.3 | 1.6 | 2.2 | 2.5 |
| Working capital | −$3.85B | −$3.41B | −$2.97B | −$3.06B | −$2.35B | −$1.94B | −$1.49B | −$1.29B | −$1.10B | −$825.9M |
| Invested capital | $575.6M | $291.0M | $105.4M | $233.9M | −$70.7M | −$146.5M | $94.6M | $117.5M | $13.4M | −$6.9M |
| Tangible asset value | $498.2M | $438.1M | $422.7M | $391.1M | $376.2M | $262.1M | $241.3M | $217.3M | $133.3M | $111.3M |
| Net current asset value | −$4.42B | −$3.93B | −$3.44B | −$3.30B | −$2.50B | −$2.10B | −$1.69B | −$1.46B | −$1.22B | −$902.8M |
| Graham number | $25.56 | $20.81 | $21.84 | $24.00 | $21.55 | $13.81 | $13.86 | $12.43 | $7.86 | $6.16 |
| Graham net-net per share | −$154.48 | −$141.07 | −$119.56 | −$117.05 | −$89.20 | −$74.98 | −$57.18 | −$49.69 | −$41.95 | −$30.00 |
| Capital allocation | ||||||||||
| Dividends paid | $4.1M | $4.1M | $4.1M | $4.1M | $1.2M | $317,000 | $258,000 | $1.2M | — | — |
| Share buybacks (net) | $2.2M | $5.9M | $5.1M | $11.5M | $2.7M | $10.4M | $15.0M | $0 | $0 | $192,000 |
| Dividend payout ratio | 8.8% | 12.4% | 10.1% | 7.6% | 2.6% | 1.2% | 0.8% | 4.3% | — | — |
| Dividends + buybacks / free cash flow | 28.4% | 23.5% | 33.9% | 18.7% | 7.3% | — | 63.5% | 4.6% | 0.0% | 1.5% |
| Capex / revenue | 2.0% | 1.6% | 1.3% | 1.0% | 0.6% | 20.5% | 14.5% | 4.2% | 1.8% | 4.1% |
| Capex / operating cash flow | 21.0% | 8.8% | 9.9% | 1.9% | 1.4% | 107.3% | 39.4% | 12.6% | 5.0% | 14.7% |
| Capex / depreciation | 1.48 | 1.36 | 0.94 | 0.50 | 0.30 | 17.67 | 12.99 | 3.91 | 1.40 | 3.18 |
| Stock-based compensation / revenue | 1.4% | 1.6% | 1.7% | 2.0% | 1.8% | 1.4% | 0.7% | 0.9% | 0.5% | 0.4% |
| SG&A / revenue | 17.7% | 17.5% | 18.2% | 23.8% | 25.1% | 22.5% | 24.1% | 25.4% | 21.8% | 24.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 50.6 | 57.1 | 24.3 | 24.4 | 25.0 | 24.1 | 22.7 | 24.8 | 24.6 | 27.1 |
| Days of inventory on hand | — | — | 15.9 | -1,121.5 | -2,435.6 | -986.3 | -466.8 | — | 53.2 | 129.8 |
| Days payables outstanding | 8.6 | 11.5 | 12.7 | 18.6 | 22.5 | 16.6 | 21.4 | 24.4 | 22.6 | 19.0 |
| Cash conversion cycle (days) | 42.1 | 45.6 | 27.5 | -1,115.6 | -2,433.2 | -978.7 | -465.5 | 0.4 | 55.3 | 137.9 |
| Receivables turnover | 7.21 | 6.39 | 15.04 | 14.94 | 14.62 | 15.13 | 16.10 | 14.71 | 14.82 | 13.46 |
| Payables turnover | 42.57 | 31.70 | 28.84 | 19.67 | 16.22 | 22.03 | 17.08 | 14.97 | 16.19 | 19.22 |
| Inventory turnover | — | — | 23.03 | — | — | — | — | — | 6.86 | 2.81 |
| Asset turnover | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.04 |
| Average receivables | $40.5M | $39.3M | $15.1M | $11.3M | $9.2M | $8.0M | $6.7M | $6.0M | $4.6M | $4.0M |
| Average payables | $3.6M | $4.6M | $4.1M | $2.1M | $1.5M | $1.8M | $1.9M | $1.6M | $1.0M | $612,000 |
| Average inventory | — | — | $5.1M | −$128.1M | −$163.6M | −$107.0M | −$41.4M | — | $2.4M | $4.2M |
| Intangibles / total assets | 0.3% | 0.4% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.3% |
Computed from BWB's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BWB valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Bridgewater Bancshares traded at 10.9 times earnings, against a 10-year median of 11.4. Based on the latest twelve months, the trailing P/E is 11.2 and the forward P/E is 11.2. Bridgewater Bancshares earned a return on equity of 9.5% and a return on invested capital of 10.9% in fiscal 2025. It ended the year with $508.2 million of debt and $449.7 million in cash and short-term investments, net debt of $58.5 million. It returned $6.2 million to shareholders: $4.1 million in dividends and $2.2 million in share buybacks, 28% of free cash flow. The share count fell 4.7% from 30.1M to 28.7M over 9 years.
See the BWB income statement, the BWB chart for price history, or the BWB stock overview for the latest quote and news.
BWB key metrics FAQ
What is Bridgewater Bancshares's P/E ratio?
Bridgewater Bancshares's trailing P/E ratio is 11.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.2. At the end of fiscal 2025 it was 10.9, compared with a 10-year median of 11.4.
What is Bridgewater Bancshares's EV/EBITDA?
Bridgewater Bancshares's enterprise value was 8.6 times EBITDA at the end of fiscal 2025 (enterprise value $560.7 million, EBITDA $65.4 million).
What is Bridgewater Bancshares's return on equity?
Bridgewater Bancshares's return on equity (ROE) was 9.5% in fiscal 2025: net income of $46.1 million on average shareholders' equity of $487.5 million.
What is Bridgewater Bancshares's ROIC?
Bridgewater Bancshares's return on invested capital was 10.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Bridgewater Bancshares have?
Bridgewater Bancshares had total debt of $508.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.98 and $58.5 million of net debt (0.89 times EBITDA).
What is Bridgewater Bancshares's dividend yield?
Bridgewater Bancshares paid $4.1 million in dividends in fiscal 2025 ($0.14 per share), a payout ratio of 8.8%.
Does Bridgewater Bancshares buy back its shares?
Yes. Bridgewater Bancshares spent $2.2 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.5% over the year, to 28.7M..
What is Bridgewater Bancshares's free cash flow yield?
Bridgewater Bancshares generated $22.0 million of free cash flow in fiscal 2025, a free cash flow yield of 4.4% on its market value at year-end ($502.3 million).
What is Bridgewater Bancshares's current ratio?
Bridgewater Bancshares's current ratio was 0.11 at the end of fiscal 2025: current assets were 0.11 times current liabilities.