FNWD
Finward Bancorp
NASDAQ: FNWD · FINANCIAL SERVICES · BANKS - REGIONAL
$32.18
+0.81% today
Updated 2026-04-30
Market cap
$146.37M
P/E ratio
17.98
P/S ratio
2.21x
EPS (TTM)
$1.88
Dividend yield
1.08%
52W range
$26 – $40
Volume
0.0M
Finward Bancorp (FNWD) 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 | $39.20M | $40.20M | $39.70M | $37.79M | $36.00M | $33.23M | $33.61M | $31.52M | $33.26M | $36.23M | $40.01M | $41.11M | $48.55M | $62.92M | $69.77M | $66.60M | $83.54M | $96.53M | $111.83M | $101.06M |
| Revenue growth (YoY) | — | +2.6% | -1.3% | -4.8% | -4.7% | -7.7% | +1.1% | -6.2% | +5.5% | +8.9% | +10.4% | +2.7% | +18.1% | +29.6% | +10.9% | -4.5% | +25.4% | +15.5% | +15.8% | -9.6% |
| Cost of revenue | $15.75M | $18.43M | $15.32M | $17.38M | $10.56M | $6.74M | $4.70M | $2.18M | $2.69M | $2.97M | $3.61M | $3.79M | $6.40M | $11.68M | $9.43M | $3.59M | $4.89M | $33.25M | $40.23M | $34.81M |
| Gross profit | $23.45M | $21.77M | $24.37M | $20.41M | $25.45M | $26.49M | $28.91M | $29.34M | $30.56M | $33.27M | $36.40M | $37.32M | $42.15M | $51.24M | $60.34M | $63.01M | $78.66M | $63.28M | $71.60M | $66.25M |
| Gross margin | 59.8% | 54.1% | 61.4% | 54.0% | 70.7% | 79.7% | 86.0% | 93.1% | 91.9% | 91.8% | 91.0% | 90.8% | 86.8% | 81.4% | 86.5% | 94.6% | 94.2% | 65.6% | 64.0% | 65.6% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $7.33M | $7.47M | $10.02M | $11.44M | $11.49M | $10.90M | $11.35M | $11.10M | $11.88M | $13.67M | $14.43M | $14.55M | $16.82M | $19.92M | $23.64M | $25.10M | $30.22M | $29.66M | $29.53M | $37.75M |
| Operating income | $9.15M | $7.24M | $7.38M | $1.68M | $5.98M | $6.56M | $8.79M | $9.52M | $9.55M | $9.65M | $11.69M | $11.83M | $10.77M | $13.86M | $18.71M | $16.38M | $16.56M | $8.04M | $13.46M | $8.11M |
| Operating margin | 23.3% | 18.0% | 18.6% | 4.4% | 16.6% | 19.8% | 26.2% | 30.2% | 28.7% | 26.6% | 29.2% | 28.8% | 22.2% | 22.0% | 26.8% | 24.6% | 19.8% | 8.3% | 12.0% | 8.0% |
| EBITDA | $10.68M | $8.71M | $8.80M | $3.28M | $8.12M | $8.89M | $11.20M | $11.64M | $11.58M | $11.97M | $14.24M | $14.44M | $13.43M | $15.80M | $21.91M | $20.94M | $22.53M | $15.21M | $20.75M | $8.11M |
| EBITDA margin | 27.2% | 21.7% | 22.2% | 8.7% | 22.6% | 26.8% | 33.3% | 36.9% | 34.8% | 33.0% | 35.6% | 35.1% | 27.7% | 25.1% | 31.4% | 31.4% | 27.0% | 15.8% | 18.6% | 8.0% |
| EBIT | $9.15M | $7.24M | $7.38M | $1.68M | $5.98M | $6.56M | $8.79M | $9.52M | $9.55M | $9.65M | $11.69M | $11.83M | $10.77M | $13.86M | $18.71M | $16.38M | $16.56M | $8.04M | $13.46M | — |
| Interest expense | $15.74M | $17.88M | $12.93M | $8.84M | $4.99M | $3.23M | $2.35M | $1.73M | $1.82M | $2.01M | $2.35M | $2.59M | $5.09M | $9.09M | $5.74M | $2.08M | $4.89M | $31.23M | $40.73M | $35.02M |
| Income tax | $2.67M | $1.65M | $1.45M | $-813000.00 | $797000.00 | $1.18M | $1.94M | $2.40M | $2.15M | $1.80M | $2.55M | $2.87M | $1.43M | $1.76M | $2.77M | $1.41M | $1.48M | $-335000.00 | $1.32M | $23000.00 |
| Effective tax rate | 29.2% | 22.8% | 19.6% | -48.5% | 13.3% | 18.0% | 22.1% | 25.2% | 22.6% | 18.6% | 21.8% | 24.3% | 13.3% | 12.7% | 14.8% | 8.6% | 8.9% | -4.2% | 9.8% | 0.3% |
| Net income | $6.47M | $5.59M | $5.93M | $2.49M | $5.18M | $5.38M | $6.85M | $7.12M | $7.39M | $7.85M | $9.14M | $8.96M | $9.34M | $12.10M | $15.93M | $14.96M | $15.08M | $8.38M | $12.13M | $8.09M |
| Net income growth (YoY) | — | -13.7% | +6.1% | -58.0% | +108.2% | +4.0% | +27.3% | +3.9% | +3.9% | +6.2% | +16.4% | -2.0% | +4.2% | +29.6% | +31.7% | -6.1% | +0.8% | -44.4% | +44.7% | -33.3% |
| Profit margin | 16.5% | 13.9% | 14.9% | 6.6% | 14.4% | 16.2% | 20.4% | 22.6% | 22.2% | 21.7% | 22.8% | 21.8% | 19.2% | 19.2% | 22.8% | 22.5% | 18.1% | 8.7% | 10.8% | 8.0% |