ENTERPRISE FINANCIAL SERVICES CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ENTERPRISE FINANCIAL SERVICES CORP 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
Interest expense	13.7	25.2	45.9	66.4	34.8	23	41.2	202	283
Pre-tax income	74.8	86.5	105	116	91.9	169	259	247	231	284
Income tax	26	38.3	15.4	23.3	17.6	35.6	56.4	52.5	46	82.3
Net income	48.8	48.2	89.2	92.7	74.4	133	203	194	185	201
EPS, basic	2.44	2.10	3.86	3.56	2.76	3.86	5.32	5.09	4.86	5.34
EPS, diluted	2.41	2.07	3.83	3.55	2.76	3.86	5.31	5.07	4.83	5.31
Shares, basic (weighted)	20	23	23.1	26	27	34.4	37.4	37.4	37.4	37
Shares, diluted (weighted)	20.3	23.2	23.3	26.2	27	34.5	37.5	37.5	37.6	37.2
Dividend per share	0.41	0.44	0.47	0.62	0.72	0.75	0.90	1.00	1.06	1.22

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	199	153	197	167	538	2,022	291	433	764	682
Property, plant and equipment	14.9	32.6	32.1	60	53.2	47.9	43	42.7	45	59
Lease right-of-use assets			0	14.8	13.6	13.5	17.4	25.4	22.8	24
Goodwill	30.3	117	117	210	261	365	365	365	365	417
Intangible assets	2.15	11.1	8.55	26.1	23.1	22.3	16.9	12.3	8.48	21.2
Total assets	4,081	5,289	5,646	7,334	9,752	13,537	13,054	14,519	15,596	17,301
Total liabilities	3,694	4,741	5,042	6,467	8,673	12,008	11,532	12,803	13,772	15,261
Paid-in capital	213	350	351	527	698	1,019	983	995	991	1,001
Retained earnings	182	225	305	381	417	493	598	750	878	1,021
Treasury stock	-6.63	-23.3	-42.7	-58.2	-73.5	-73.5	0
Other comprehensive income	-1.74	-3.82	-9.28	17.7	37.1	18.8	-130	-101	-117	-54.6
Shareholders' equity	387	549	604	867	1,079	1,529	1,522	1,716	1,824	2,039
Total equity	387	549	604	867	1,079	1,529	1,522	1,716	1,824	2,039
Total liabilities and equity	4,081	5,289	5,646	7,334	9,752	13,537	13,054	14,519	15,596	17,301
Shares outstanding						39.8	37.3	37.4	37	37

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	48.8	48.2	89.2	92.7	74.4	133	203	194	185	201
Depreciation and amortization	2.4	3.3	3.5	5.7	6.2	6.1	5.6	5.1	5.1	6.8
Stock-based compensation	3.37	3.43	3.45	4.03	4.18	6.02	8.01	10.1	10.9	13.5
Deferred income tax	7.26	21.1	3.31	5.8	-12.6	0.55	2.19	2.38	-3.52	-5.59
Cash from operations	82.5	45.8	109	92.5	136	161	217	268	247	194
Capital expenditures	-2.5	-2.55	-3.04	-6.34	-2.26	-2.5	-1.93	-6.56	-7.48	-12
Acquisitions	0	4.46	0	-23.4	62.1	213	0	0
Purchases of investments				-577	-453	-779	-728	-319	-564	-1,288
Sales and maturities of investments	63.5	144	84.2	146	329	306	239	233	317	435
Cash from investing	-358	-312	-332	-379	-703	-23.1	-1,384	-1,308	-797	-1,079
Debt repaid	0
Stock issued	0
Share buybacks	-4.89	-16.6	-19.4	-15.5	-15.3	-60.6	-32.9	0	-29.6	-14.1
Dividends paid	-8.21	-10.2	-10.8	-16.6	-19.8	-26.2	-33.6	-37.4	-39.6	-45.1
Cash from financing	380	221	266	257	938	1,347	-563	1,181	881	803
Net change in cash	105	-45.5	43.2	-29.3	370	1,484	-1,730	142	331	-82.3
Free cash flow	80	43.2	106	86.1	133	158	215	262	240	182
Interest paid	13.3	24.6	45.7	65.7	35.4	24	40.7	195	284	260
Income taxes paid	26	12.4	10.1	13.6	7.51	56.8	46	50.1	28.1	82.9

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 $60.93 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	9.3%	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	8.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-0.3%	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	22.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	9.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	0.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.0%	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	-21.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-3.7%	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	7.4%	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	-24.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-5.4%	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	6.4%	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	15.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.7%	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	11.1%	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	11.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.2%	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	13.6%	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	10.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.8%	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	12.1%	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	-0.9%	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	-0.2%	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	6.7%	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	88.3%	Total liabilities / total assets.
Goodwill and intangibles / assets	2.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.61B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	111.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.19	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	$5.76	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.98	Cash from operations / diluted weighted shares.
Book value per share	$56.29	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$44.28	Tangible book value / shares outstanding.
Cash per share	$15.23	(Cash + short-term investments) / shares outstanding.
Payout ratio	25.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	22.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	25.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.21B	Share price x shares outstanding.
Enterprise value	$1.65B	Market cap + total debt - cash - short-term investments.
P/E	11.6x	Market cap / net income. Only when net income is positive.
P/B	1.08x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.37x	Market cap / tangible book value, when positive.
P/FCF	10.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.1x	Market cap / cash from operations, when positive.
EV/FCF	7.82x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.6%	Free cash flow / market cap.
Earnings yield	8.6%	Net income / market cap (the inverse of P/E).
Dividend yield	2.2%	Dividends paid over the period / market cap.
Shareholder yield	4.6%	(Dividends paid + share buybacks) / market cap.

Was ENTERPRISE FINANCIAL SERVICES CORP profitable in fiscal 2025?

Yes. Net income was $201.4M, a net margin of -.

How much free cash flow did ENTERPRISE FINANCIAL SERVICES CORP generate in fiscal 2025?

Cash from operations of $193.5M minus capital expenditures of $12.0M left free cash flow of $181.5M.

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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