BWFG Financial Services

Bankwell Financial Group, Inc.

$71.68-1.73%

Price as of close on Nov 3, 2026 · Financials updated Nov 3, 2026

Basics

Sector: Financial Services
Industry: Banks - Regional
Country: United States
Market cap: 571.4M USD
Full-time employees: 186

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Ranks #184 of 791 banks & insurance companies (top 24%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $8M vs $3M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +3.1% from December 2022 to July 2026.
Over three fiscal years Bankwell Financial recorded $8M of stock-based pay expense and spent $3M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Bankwell Financial recorded $8M of stock-based pay expense and spent $3M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Stock-based pay is a large cost. Stock pay was 83% of revenue in 2025.
Bankwell Financial paid employees $2M in stock in 2025, 83% of its $3M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1M in 2020 to $3M in 2025.
Bankwell Financial's fiscal-year revenue rose in each of the five years to 2025, from $1M to $3M.
Fast revenue growth. Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 80% of peers, from a small base ($3.0M of revenue over 12 months).
Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 80% of its peers.

StockQuotient Score

63/ 100▼ 1 since Oct 27 close

Oct 5 65 → Nov 4 63 (-2)

Valuation

Is the price right?

36/100

Weak▼ 4 since Oct 27 close

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 40 → 36

Share price +7.2%-6
Company's reported figures updated+3
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ P/B

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield58.0%

SEC filings · latest balance sheetReported value40% base weight · Z-score -0.76Sector median: 0.7950 · MAD: 0.2843

Earnings yield7.7%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score -0.08Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield6.2%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported valueInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

92/100

Strong

1/1 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ EPS growth

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growth103.0%

SEC filings · 12 months to Jun 2026Reported value100% base weight · Z-score 4.90Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth34.5%

SEC filings · 3 years to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth22.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

60/100

Moderate

2/2 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROE

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets1.2%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.10Sector median: 0.0117 · MAD: 0.0062

Return on equity13.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.65Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Bankwell Financial

Is Bankwell Financial getting weaker?: Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is 63/100, down 1 since Oct 28, 2026.
How is Bankwell Financial valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 36/100 against 950 banks & insurance peers. Book yield 58.0% vs a peer median of 79.5% (weaker than 72% of peers).Book yield 58.0% vs peers 79.5% (weaker than 72% of peers).
Is Bankwell Financial growing?: Yes, faster than most of its peers. Growth scores 92/100 against 950 banks & insurance peers. Earnings per share growth 103.0% vs a peer median of 16.0% (stronger than 92% of peers).Earnings per share growth 103.0% vs peers 16.0% (stronger than 92% of peers).
How profitable is Bankwell Financial?: More profitable than most of its peers. Profitability scores 60/100 against 950 banks & insurance peers. Return on equity 13.3% vs a peer median of 10.7% (stronger than 66% of peers).Return on equity 13.3% vs peers 10.7% (stronger than 66% of peers).
How risky is Bankwell Financial?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	3.0M USD	3.0M USD	−0.3%
Net income (12 months)	39.6M USD	42.9M USD	+8.3%
Free cash flow (12 months)	30.6M USD	34.5M USD	+12.9%
Cash	217.9M USD	203.4M USD	−6.7%
Shares outstanding	8.0M	8.0M	−0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Banks - Regional · 119 companies

Valuations in Banks - Regional are within their usual range since 2016.

45% of months since 2016 were valued lower than now.
14% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +29% and earnings +32% (medians): prices and earnings moved broadly together.
Median price-to-book is −61% vs the whole market, against a usual −59%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Net margin	3048.9%	3491.5%	2250.6%	497.7%	1245.5%	▲ 748 pts
Return on assets (ROA)	1.1%	1.2%	1.1%	0.3%	1.0%	▲ 0.7 pts
Return on equity (ROE)	13.2%	15.7%	13.8%	3.6%	11.7%	▲ 8.1 pts

BWFG price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Ranks #184 of 791 banks & insurance companies (top 24%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock pay outran buybacks. Stock-based pay expense $8M vs $3M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +3.1% from December 2022 to July 2026.

Over three fiscal years Bankwell Financial recorded $8M of stock-based pay expense and spent $3M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Bankwell Financial recorded $8M of stock-based pay expense and spent $3M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Stock-based pay is a large cost. Stock pay was 83% of revenue in 2025.

Bankwell Financial paid employees $2M in stock in 2025, 83% of its $3M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $1M in 2020 to $3M in 2025.

Bankwell Financial's fiscal-year revenue rose in each of the five years to 2025, from $1M to $3M.

Fast revenue growth. Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 80% of peers, from a small base ($3.0M of revenue over 12 months).

Revenue grew 23% in the 12 months to June 2026 vs the 12 months before, faster than 80% of its peers.

Questions investors ask about Bankwell Financial

Is Bankwell Financial getting weaker?

Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is 63/100, down 1 since Oct 28, 2026.

How is Bankwell Financial valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 36/100 against 950 banks & insurance peers. Book yield 58.0% vs a peer median of 79.5% (weaker than 72% of peers).Book yield 58.0% vs peers 79.5% (weaker than 72% of peers).

Is Bankwell Financial growing?

Yes, faster than most of its peers. Growth scores 92/100 against 950 banks & insurance peers. Earnings per share growth 103.0% vs a peer median of 16.0% (stronger than 92% of peers).Earnings per share growth 103.0% vs peers 16.0% (stronger than 92% of peers).

How profitable is Bankwell Financial?

More profitable than most of its peers. Profitability scores 60/100 against 950 banks & insurance peers. Return on equity 13.3% vs a peer median of 10.7% (stronger than 66% of peers).Return on equity 13.3% vs peers 10.7% (stronger than 66% of peers).

How risky is Bankwell Financial?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Revenue (12 months)

3.0M USD

3.0M USD

−0.3%

Net income (12 months)

39.6M USD

42.9M USD

+8.3%

Free cash flow (12 months)

30.6M USD

34.5M USD

+12.9%

Cash

217.9M USD

203.4M USD

−6.7%

Shares outstanding

8.0M

8.0M

−0.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Net margin

3048.9%

3491.5%

2250.6%

497.7%

1245.5%

▲ 748 pts

Return on assets (ROA)

1.1%

1.2%

1.1%

0.3%

1.0%

▲ 0.7 pts

Return on equity (ROE)

13.2%

15.7%

13.8%

3.6%

11.7%

▲ 8.1 pts