Alerus Financial (ALRS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Alerus Financial

NasdaqCM•Financial Services•Banks - Regional

$32.76-0.04(<0.01%)Market open

Market Cap

$821.40M

P/E

29.6x

P/S

2.5x

P/B

1.4x

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States. The company operates in three segments: Banking, Retirement and Benefit Services, and Wealth. It offers demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, noninterest-bearing deposits, interest-bearing checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault, merchant, and other cash management services. The company also provides commercial loans, business term loans, and lines of credit; commercial real estate, and commercial and industrial loans; consumer lending products, including residential first mortgage loans; and installment loans, and loans collateralized by cash and marketable securities. In addition, it offers retirement plan, and investment advisory services, employee stock ownership plan, investment fiduciary services, health savings accounts, flex spending accounts, COBRA recordkeeping, and other administration services, as well as individual retirement accounts; and financial planning, investment management, personal and corporate trust, estate administration, and custody services. Further, the company provides debit cards, personal and business loans, credit cards, online and mobile banking/wallet, private banking, deposit and payment solutions, mortgages, administration, and government health insurance program services. The company was formerly known as First National Bank North Dakota and changed its name to Alerus Financial Corporation in 2000. Alerus Financial Corporation was founded in 1879 and is headquartered in Grand Forks, North Dakota.

How this company scores

AverageMetricSide Score: 46/100

Strongest: Cash & Earnings Quality (21/25); weakest: Growth (1/25).

Profitability8/25

Growth1/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality21/25

Strengths

Rising free cash flowLow leverageConsistent free cash flowNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 29.6x5y range 8.2x – 146.4x

Currently above its 20-quarter median.

P/S · 2.5x5y range 1.2x – 2.5x

Currently above its 20-quarter median.

P/B · 1.4x5y range 0.8x – 1.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 196.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $821.40M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $334.91M
Q. Revenue: $103.57M
TTM EBITDA: $45.24M
TTM Op. Income: $36.20M
Q. Op. Income: $27.28M
TTM Net Income: $27.71M
Q. Net Income: $20.86M
EPS: $0.82
Shares Out.: $25.08M

$334.91M in TTM revenue declined 11.8% YoY, reaching $103.57M last quarter. TTM EBITDA of $45.24M and TTM operating income of $36.20M show growth is flowing through to the bottom line. TTM net income of $27.71M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 77.9%
EBITDA Margin: 28.2%
Op. Margin: 26.3%
Net Margin: 20.1%

Op. margin of 26.3% is up 0.5% YoY — cost efficiency is improving. Net margin at 20.1% and gross margin of 77.9% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 2% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 29.6x
P/S Ratio: 2.5x
P/B Ratio: 1.4x

At 29.6x P/E, the stock trades within typical market levels. P/S of 2.5x and P/B of 1.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 109% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.29B
Cash: $109.01M
Long-Term Debt: $59.24M
Book Value: $583.14M
D/E Ratio: 0.1
Debt/EBITDA: 2.0

With $5.29B in assets and $59.24M in long-term debt, D/E is 0.1and book value is $583.14M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $18.60M
TTM Free Cash Flow: $89.31M
FCF Margin: 26.7%
FCF / Net Income: 3.2

TTM FCF of $89.31M on $18.60M in operating cash flow. The FCF / Net Income ratio of 3.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.