ConnectOne Bancorp, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ConnectOne Bancorp, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Selling and marketing					1.2	1.32	1.69	1.97	2.42	3.18
Interest expense	31.1	36.3	58.9	85.2	70.2	38.9	71.6	235
Pre-tax income	42.9	68.5	71.1	94	90.4	175	171	117	98.5	113
Income tax	11.8	25.3	10.8	20.6	19.1	44.7	46	30	24.7	32.3
Net income	31.1	43.2	60.4	73.4	71.3	130	125	87	73.8	80.4
EPS, basic	1.02	1.35	1.87	2.08	1.80	3.24	3.03	2.08	1.77	1.64
EPS, diluted	1.01	1.34	1.86	2.07	1.79	3.22	3.01	2.07	1.76	1.63
Shares, basic (weighted)					39.5	39.6	39.3	38.8	38.3	45.2
Shares, diluted (weighted)					39.6	39.9	39.5	39	38.5	45.4
Dividend per share	0.30	0.30	0.30	0.36	0.27	0.48	0.60	0.67	0.71	0.72

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	200	150	172	201	304	266	268	243	356	381
Property, plant and equipment	22.1	21.7	19.1	19.2	30.1	29	27.8	30.8	28.4	55.3
Lease right-of-use assets				15.1	16.2	11	10.2	12	14.5	29.6
Goodwill	146	146	146	163	208	208	208	208	208	220
Total assets	4,426	5,108	5,462	6,174	7,547	8,129	9,645	9,856	9,880	14,003
Short-term debt						4,716
Total liabilities	3,895	4,543	4,848	5,443	6,632	7,005	8,466	8,639	8,638	12,429
Total debt	476	670	600	500
Paid-in capital	11.4	13.6	15.5	21.3	23.9	27.2	30.1	33.2	36.3	38.8
Retained earnings	126	160	211	272	332	440	536	591	631	674
Treasury stock	-16.7	-16.7	-16.7	-29.4	-30.3	-39.7	-52.8	-70.3	-76.1	-76.1
Other comprehensive income	-2.85	-4.02	-8.79	-1.15	2.8	-1.4	-32.4	-35.1	-47.8	-31.9
Shareholders' equity	531	565	614	731	915	1,124	1,179	1,217	1,242	1,573
Total equity	531	565	614	731	915	1,124	1,179	1,217	1,242	1,573
Total liabilities and equity	4,426	5,108	5,462	6,174	7,547	8,129	9,645	9,856	9,880	14,003
Shares outstanding	31.9	32.1	32.3	35.1	39.8	39.6	39.2	38.5	38.4	50.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	31.1	43.2	60.4	73.4	71.3	130	125	87	73.8	80.4
Depreciation and amortization	2.7	3.15	3.06	3.05	4.24	3.76	3.86	4.5	4.42	6.09
Stock-based compensation	2.11	1.78	1.88	2.94	2.95	4.54	4.89	4.86	4.57	4.65
Deferred income tax	1.97	3.7	0.93	0.1	-7.5	0.02	-0.4	4.14	-2.04	-2.77
Cash from operations	49.7	131	89.1	60.7	81.1	202	177	92.9	60.7	106
Capital expenditures	-2.7	-2.66	-2.05	-1.53	-2.2	-2.78	-3.3	-7.43	-3.79	-5.39
Acquisitions								0	0	54.9
Purchases of investments				-226	-338	-350	-339	-42.1	-80.5	-441
Sales and maturities of investments	138	109	142	178	257	286	150	64.6	69.7	162
Cash from investing	-428	-818	-357	-102	-323	-690	-1,543	-248	55.2	-186
Debt issued				1.29	0.61
Debt repaid	-14.8	-4.5	-4.44	-8.18	-37.4	-9.17
Stock issued	0.77	0.42	0.88	0.36	0.23	0.11	0.12	0.1	0	0
Share buybacks		-0.18			-0.91	-9.4	-13.1	-17.5	-5.82	0
Dividends paid	-9.07	-9.61	-9.66	-12.2	-14.3	-17.5	-23.4	-25.9	-27.3	-32
Cash from financing	377	636	291	70.9	345	449	1,369	130	-2.08	104
Net change in cash	-0.5	-50.8	22.8	29.1	102	-38.2	2.78	-25.6	114	24.4
Free cash flow	47	128	87	59.2	78.9	199	173	85.5	56.9	101
Interest paid	30.9	36.7	55.7	88.5	74.7	41.8	67.9	231	271	286
Income taxes paid	22.9	16.2	9.09	18.5	26.5	45.4	49.2	31.6	24	43.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $31.06 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	27.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.1%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	9.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-13.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	2.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-7.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-18.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-1.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	75.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-15.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	5.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	77.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-16.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	5.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	1.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	6.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	21.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	26.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	11.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	41.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	13.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	13.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	18.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	4.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	88.7%	Total liabilities / total assets.
Goodwill and intangibles / assets	1.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.41B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	79.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	5.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.05	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$2.53	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.68	Cash from operations / diluted weighted shares.
Book value per share	$32.32	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$27.95	Tangible book value / shares outstanding.
Cash per share	$7.20	(Cash + short-term investments) / shares outstanding.
Payout ratio	23.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	29.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	1.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.69B	Share price x shares outstanding.
Enterprise value	$1.32B	Market cap + total debt - cash - short-term investments.
P/E	10.5x	Market cap / net income. Only when net income is positive.
P/B	1.04x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.20x	Market cap / tangible book value, when positive.
P/FCF	13.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	12.5x	Market cap / cash from operations, when positive.
EV/FCF	10.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.6%	Free cash flow / market cap.
Earnings yield	9.5%	Net income / market cap (the inverse of P/E).
Dividend yield	2.2%	Dividends paid over the period / market cap.
Shareholder yield	2.3%	(Dividends paid + share buybacks) / market cap.

Was ConnectOne Bancorp, Inc. profitable in fiscal 2025?

Yes. Net income was $80.4M, a net margin of -.

How much free cash flow did ConnectOne Bancorp, Inc. generate in fiscal 2025?

Cash from operations of $106.4M minus capital expenditures of $5.4M left free cash flow of $101.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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