NORTHRIM BANCORP INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NORTHRIM 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
Revenue	6.28	5.83	5.91				134	158	196	256
Gross profit							127	126	152	209
Interest expense	2.56	2.43	2.97	5.64	6.05	3.78	5.21	28.7
Pre-tax income	21	23.8	24.1	26.1	42.4	48	38.5	31.6	47	84.5
Income tax	6.05	10.3	4.07	5.43	9.56	10.5	7.75	6.21	10	19.9
Net income to minority interests	0.58	0.33	0	0
Net income	14.4	13.2	20	20.7	32.9	37.5	30.7	25.4	37	64.6
EPS, basic	0.52	0.48	0.73	0.77	1.29	1.51	1.33	1.13	1.68	2.92
EPS, diluted	0.51	0.47	0.71	0.76	1.27	1.50	1.31	1.12	1.66	2.87
Shares, basic (weighted)	27.6	27.6	27.6	26.9	25.5	24.8	23.1	22.4	22	22.1
Shares, diluted (weighted)	28	28	28	27.3	25.8	25.1	23.4	22.6	22.3	22.5
Dividend per share	0.19	0.21	0.25	0.31	0.34	0.37	0.45	0.60	0.62	0.64

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	50.6	77.8	77.5	95.4	116	646	259	119	62.7	146
Property, plant and equipment	39.3	37.9	39.1	38.4	38.1	37.2	37.8	40.7	37.8	39.7
Lease right-of-use assets			0	14.3	12.4	11	9.87	9.09	7.46	5.91
Goodwill	15	15	15	15	15	15	15	15	50	49.9
Intangible assets	1.31	1.21	1.14	1.08	1.03	0.99	0.97	0.95	0.95	0.95
Total assets	1,526	1,519	1,503	1,644	2,122	2,725	2,674	2,807	3,042	3,290
Total liabilities	1,340	1,326	1,297	1,437	1,900	2,487	2,456	2,573	2,775	2,964
Total debt	31.9	35.1	41.5	8.89	14.8	14.5	14.1	13.7	23	81.7
Paid-in capital	63	61.8	62.1	50.5	41.8	31.2	17.8	9.61	9.31	10.8
Retained earnings	117	124	137	150	173	204	224	236	259	310
Other comprehensive income	-0.4	-0.27	-0.52	0.43	0.02	-3.41	-29.1	-16.4	-7.02	0.62
Shareholders' equity	187	193	206	207	222	238	219	235	267	327
Minority interests	0.12	0
Total equity	187	193	206	207	222	238	219	235	267	327
Total liabilities and equity	1,527	1,519	1,503	1,644	2,122	2,725	2,674	2,807	3,042	3,290
Shares outstanding	27.7	27.5	27.6	26.3	25.1	24.1	22.9	5.51	22.1	22.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	15	13.5	20	20.7	32.9	37.5	30.7	25.4	37	64.6
Depreciation and amortization	2.44	2.97	2.35	3.05	3.1	3.3	3.1	3.3	3.6	3.5
Stock-based compensation	0.78	0.67	0.82	0.83	0.94	1.07	0.74	0.94	0.91	1.73
Deferred income tax	-0.33	4	3.01	0.71	0.56	-1.3	2.11	0.58	-0.15	-1.51
Cash from operations	20.1	19.3	25.2	-0.82	-36.5	112	78.1	38.8	-8.73	139
Capital expenditures	-3.29	-1.56	-3.51	-2.32	-2.85	-2.34	-3.8	-6.17	-0.62	-5.47
Acquisitions	0						0	0	-40.7	0.14
Purchases of investments	-146	-84.3	-88.1	-132	-160	-321	-303	-26	-49.5	-96.4
Sales and maturities of investments	106	103	123	130	189	135	13.4	82.4	221	165
Cash from investing	-47.5	30.4	5.65	-71.9	-383	-159	-406	-255	-198	-223
Debt issued	2.27	3.1	0	1.82	111	0	0	195	698	563
Debt repaid	-0.05	-0.07	-0.12	-0.17	-105	-0.31	-0.41	-195	-728	-573
Stock issued	0	0.1	0.24	0.07	0.08	1.54	0.59	0.56	0.8	0.61
Share buybacks	0	-1.61	-0.49	-12.6	-9.98	-11.5	-14.2	-9.04	-0.79	0
Dividends paid	-5.37	-5.97	-7.06	-8.51	-8.84	-9.39	-10.6	-13.6	-13.8	-14.5
Cash from financing	19.3	-22.4	-31.1	90.6	440	577	-59	75.3	151	167
Net change in cash	-8.12	27.3	-0.3	17.9	20.5	530	-386	-141	-55.8	83.2
Free cash flow	16.8	17.7	21.6	-3.14	-39.3	110	74.3	32.6	-9.35	134
Interest paid	2.55	2.47	2.97	5.64	6.01	3.81	5.19	28.5	40.5	42.6
Income taxes paid	4.41	7.76	1.77	1.66	7.79	6.38	2.02	2.03	6.72	17.6

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 $24.98 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	82.0%	Gross profit / revenue.
Pre-tax margin	33.9%	Pre-tax income / revenue.
Net margin	26.0%	Net income / revenue.
FCF margin	70.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	73.9%	Cash from operations / revenue.
Effective tax rate	23.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	19.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.0%	Net income / average total assets.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.2%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	30.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	23.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	37.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	74.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	28.1%	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	14.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	72.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	29.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	17.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	21.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	21.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	12.1%	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	13.2%	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	22.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	14.3%	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	8.1%	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	8.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.2%	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	9.2%	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	0.7%	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	-1.3%	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	-2.7%	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
Debt / equity	0.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	2.4%	Total debt / total assets.
Liabilities / assets	89.8%	Total liabilities / total assets.
Net debt	-$90.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	1.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$296.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.08x	Revenue / average total assets.
Fixed asset turnover	6.34x	Revenue / average property, plant and equipment.
FCF conversion	271.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.04	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.
Revenue per share	$11.68	Revenue / diluted weighted shares.
FCF per share	$8.25	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.63	Cash from operations / diluted weighted shares.
Book value per share	$15.63	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$13.34	Tangible book value / shares outstanding.
Cash per share	$7.74	(Cash + short-term investments) / shares outstanding.
Payout ratio	21.3%	Dividends paid / net income, when net income is positive.
Dividends / FCF	7.8%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$555.7M	Share price x shares outstanding.
Enterprise value	$465.0M	Market cap + total debt - cash - short-term investments.
P/E	8.11x	Market cap / net income. Only when net income is positive.
P/S	2.11x	Market cap / revenue.
P/B	1.60x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.87x	Market cap / tangible book value, when positive.
P/FCF	2.99x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	2.86x	Market cap / cash from operations, when positive.
EV/Sales	1.77x	Enterprise value / revenue.
EV/FCF	2.50x	Enterprise value / free cash flow, when both are positive.
FCF yield	33.5%	Free cash flow / market cap.
Earnings yield	12.3%	Net income / market cap (the inverse of P/E).
Dividend yield	2.6%	Dividends paid over the period / market cap.
Shareholder yield	2.6%	(Dividends paid + share buybacks) / market cap.
PEG	0.27x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was NORTHRIM BANCORP INC's revenue in fiscal 2025?

NORTHRIM BANCORP INC reported revenue of $255.6M for fiscal 2025, 30.4% higher than the year before.

Was NORTHRIM BANCORP INC profitable in fiscal 2025?

Yes. Net income was $64.6M, a net margin of 25.3%.

How much free cash flow did NORTHRIM BANCORP INC generate in fiscal 2025?

Cash from operations of $139.3M minus capital expenditures of $5.5M left free cash flow of $133.9M.

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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