AROW
Arrow Financial Corporation
NASDAQ: AROW · FINANCIAL SERVICES · BANKS - REGIONAL
$36.85
+2.19% today
Updated 2026-04-30
Market cap
$609.01M
P/E ratio
11.93
P/S ratio
3.85x
EPS (TTM)
$3.09
Dividend yield
—
52W range
$24 – $38
Volume
0.1M
Arrow Financial Corporation (AROW) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51.35M | $102.86M | $107.39M | $103.86M | $104.06M | $102.72M | $96.48M | $92.20M | $95.18M | $98.86M | $104.75M | $112.30M | $125.45M | $138.31M | $144.55M | $147.92M | $149.24M | $191.68M | $223.07M | $242.58M |
| Revenue growth (YoY) | — | +100.3% | +4.4% | -3.3% | +0.2% | -1.3% | -6.1% | -4.4% | +3.2% | +3.9% | +6.0% | +7.2% | +11.7% | +10.3% | +4.5% | +2.3% | +0.9% | +28.4% | +16.4% | +8.7% |
| Cost of revenue | $35.57M | $40.80M | $33.95M | $28.27M | $25.00M | $19.52M | $12.80M | $8.12M | $7.62M | $6.16M | $7.39M | $9.74M | $15.09M | $23.79M | $22.01M | $5.47M | — | $61.11M | $88.44M | $84.26M |
| Gross profit | $15.78M | $62.07M | $73.44M | $75.58M | $79.06M | $83.19M | $83.68M | $84.08M | $87.56M | $92.70M | $97.36M | $102.56M | $110.36M | $114.53M | $122.54M | $142.45M | $149.24M | $130.57M | $134.63M | $158.32M |
| Gross margin | 30.7% | 60.3% | 68.4% | 72.8% | 76.0% | 81.0% | 86.7% | 91.2% | 92.0% | 93.8% | 92.9% | 91.3% | 88.0% | 82.8% | 84.8% | 96.3% | 100.0% | 68.1% | 60.4% | 65.3% |
| R&D | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $22.10M | $21.42M | $24.55M | $27.04M | $34.00M | $36.11M | $37.81M | $38.28M | $38.40M | $40.84M | $43.24M | $40.36M | $41.43M | $40.44M | $44.79M | $45.84M | $48.18M | $49.72M | $55.48M | $84.84M |
| Operating income | $24.02M | $24.14M | $29.44M | $31.58M | $31.65M | $31.65M | $31.84M | $30.87M | $33.53M | $35.27M | $37.75M | $39.85M | $45.30M | $47.08M | $51.86M | $64.40M | $74.22M | $37.52M | $37.36M | $55.39M |
| Operating margin | 46.8% | 23.5% | 27.4% | 30.4% | 30.4% | 30.8% | 33.0% | 33.5% | 35.2% | 35.7% | 36.0% | 35.5% | 36.1% | 34.0% | 35.9% | 43.5% | 49.7% | 19.6% | 16.7% | 22.8% |
| EBITDA | $27.04M | $27.01M | $32.01M | $34.40M | $35.21M | $38.16M | $40.70M | $39.74M | $40.58M | $41.56M | $43.69M | $45.25M | $50.06M | $52.58M | $58.73M | $72.23M | — | $44.24M | $42.72M | $55.39M |
| EBITDA margin | 52.7% | 26.3% | 29.8% | 33.1% | 33.8% | 37.1% | 42.2% | 43.1% | 42.6% | 42.0% | 41.7% | 40.3% | 39.9% | 38.0% | 40.6% | 48.8% | 0.0% | 23.1% | 19.2% | 22.8% |
| EBIT | $24.02M | $24.14M | $29.44M | $31.58M | $31.65M | $31.65M | $31.84M | $30.87M | $33.53M | $35.27M | $37.75M | $39.85M | $45.30M | $47.08M | $51.86M | $64.40M | $74.22M | $37.52M | $37.36M | — |
| Interest expense | $34.74M | $40.28M | $32.28M | $26.49M | $23.70M | $18.68M | $11.96M | $7.92M | $5.77M | $4.81M | $5.36M | $7.01M | $12.48M | $21.71M | $12.69M | $5.20M | $11.31M | $57.73M | $83.26M | $76.98M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $16.89M | $17.33M | $20.44M | $21.79M | $21.89M | $21.93M | $22.18M | $21.80M | $23.36M | $24.66M | $26.53M | $29.33M | $36.28M | $37.48M | $40.83M | $49.86M | $48.80M | $30.07M | $29.71M | $43.95M |
| Net income growth (YoY) | — | +2.6% | +17.9% | +6.6% | +0.5% | +0.2% | +1.1% | -1.7% | +7.2% | +5.6% | +7.6% | +10.5% | +23.7% | +3.3% | +8.9% | +22.1% | -2.1% | -38.4% | -1.2% | +47.9% |
| Profit margin | 32.9% | 16.8% | 19.0% | 21.0% | 21.0% | 21.4% | 23.0% | 23.6% | 24.5% | 24.9% | 25.3% | 26.1% | 28.9% | 27.1% | 28.2% | 33.7% | 32.7% | 15.7% | 13.3% | 18.1% |