Bridgewater Bancshares (BWB) Stock Fundamentals, Analysis & Risk Signals

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

Bridgewater Bancshares

NasdaqCM•Financial Services•Banks - Regional

$20.21-0.13(-0.01%)Market closed

Market Cap

$575.79M

P/E

9.6x

P/S

1.9x

P/B

1.1x

Bridgewater Bancshares, Inc. operates as the bank holding company for Bridgewater Bank that provides banking products and services in the United States. The company provides commercial loans, including loans secured by nonfarm, nonresidential properties, multifamily residential properties, and nonowner occupied single family residential properties; construction, land development, and commercial and industrial loans; commercial real estate loans, such as owner and nonowner occupied properties; single family residential construction, land development, finished lots and raw land, and commercial and multifamily construction loans, as well as paycheck protection program loans. It offers deposit products, including savings and money market accounts, demand deposits, time and brokered deposits, and interest and noninterest bearing transaction accounts, as well as certificates of deposit. In addition, the company offers online, mobile, and direct banking services. The company was incorporated in 2005 and is headquartered in Saint Louis Park, Minnesota.

How this company scores

WeakMetricSide Score: 77/100

Grade capped at D — Interest coverage below 1× (0.5x) — earnings cannot cover interest. Strongest: Cash & Earnings Quality (21/25); weakest: Balance Sheet & Red Flags (16/25).

Profitability20/25

Growth20/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality21/25

Strengths

Rising free cash flowStrong marginsRising earningsLow leverage

Grade capped at D

Interest coverage below 1× (0.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

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

P/E · 9.6x5y range 7.3x – 11.6x

Currently near its 20-quarter median.

P/S · 1.9x5y range 1.5x – 3.0x

Currently near its 20-quarter median.

P/B · 1.1x5y range 0.8x – 1.1x

Watch items

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

Some Concerns

Earnings Quality

Watch

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

Price & Volume

Market Cap $575.79M

Metrics at a Glance

as of September 2026

Revenue & Profit

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

TTM Revenue: $310.18M
Q. Revenue: $79.22M
TTM EBITDA: $80.10M
TTM Op. Income: $77.57M
Q. Op. Income: $19.14M
TTM Net Income: $59.77M
Q. Net Income: $15.03M
EPS: $0.5
Shares Out.: $27.92M

$310.18M in TTM revenue grew 9.9% YoY, reaching $79.22M last quarter. TTM EBITDA of $80.10M and TTM operating income of $77.57M show growth is flowing through to the bottom line. TTM net income of $59.77M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 54.6%
EBITDA Margin: 25.0%
Op. Margin: 24.2%
Net Margin: 19.0%

Op. margin of 24.2% is up 4.2% YoY — cost efficiency is improving. Net margin at 19.0% and gross margin of 54.6% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

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

P/E Ratio: 9.6x
P/S Ratio: 1.9x
P/B Ratio: 1.1x

At 9.6x P/E, the stock trades below typical market levels. P/S of 1.9x and P/B of 1.1x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 15% — an improving trend.

Assets & Liabilities

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

Total Assets: $5.62B
Cash: $262.56M
Long-Term Debt: $108.95M
Book Value: $541.39M
D/E Ratio: 0.2
Debt/EBITDA: 5.5

With $5.62B in assets and $108.95M in long-term debt, D/E is 0.2and book value is $541.39M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 8% — a weakening trend.

Cash Flow

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

Op. Cash Flow: $45.97M
TTM Free Cash Flow: $73.46M
FCF Margin: 23.7%
FCF / Net Income: 1.2

TTM FCF of $73.46M on $45.97M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.