Northwest Bancshares, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Northwest Bancshares, 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
General and administrative	14.9	16.3	14.1	14.1	15.7	13.8	13.3	13	12.4	13.6
Interest expense	38.3	28.1	37.1	56.9	42.3	27.2	28.1	152
Pre-tax income	71.3	136	134	141	92.5	201	174	175	130	163
Income tax	21.6	41.4	28.4	30.7	17.7	46.8	40	40.1	29.3	36.8
Net income	49.7	94.5	105	110	74.9	154	134	135	100	126
EPS, basic	0.50	0.94	1.03	1.05	0.62	1.22	1.05	1.06	0.79	0.93
EPS, diluted	0.49	0.92	1.02	1.04	0.62	1.21	1.05	1.06	0.79	0.92
Shares, basic (weighted)	99.4	101	102	105	120	126	126	127
Shares, diluted (weighted)	101	103	104	106	120	127	127	127
Dividend per share	0.60	0.64	0.68	0.72	0.76	0.79	0.80	0.80	0.80	0.80

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	390	77.7	68.8	60.8	736	1,279	139	122	288	234
Property, plant and equipment	161	152	143	147	162	157	146	139	124	140
Lease right-of-use assets				49.4	48.3	54.9	54.9	61.7	46.2	44.9
Goodwill	307	307	307	346	382	381	381	381	381	444
Intangible assets	32.4	25.7	19.8	23.1	19.9	12.8	8.56	5.29	2.84	39.7
Total assets	9,624	9,364	9,608	10,494	13,806	14,502	14,113	14,419	14,408	16,767
Short-term debt			234	246	160	139	681	399	200
Total liabilities	8,453	8,156	8,350	9,141	12,268	12,918	12,622	12,868	12,811	14,876
Total debt	143	108	234
Paid-in capital	719	731	746	806	1,016	1,010	1,020	1,025	1,033	1,270
Retained earnings	479	508	550	583	555	610	642	675	673	689
Other comprehensive income	-28	-32.1	-39.7	-36.9	-33.5	-37.6	-171	-149	-111	-70.7
Shareholders' equity	1,171	1,208	1,258	1,353	1,539	1,584	1,491	1,551	1,597	1,890
Total equity	1,171	1,208	1,258	1,353	1,539	1,584	1,491	1,551	1,597	1,890
Total liabilities and equity	9,624	9,364	9,608	10,494	13,806	14,502	14,113	14,419	14,408	16,767
Shares outstanding			103	107	127	127	127	127	128	146

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	49.7	94.5	105	110	74.9	154	134	135	100	126
Depreciation and amortization	13.7	12.4	12.1	11.7	11.9	12.1	12	12	11	12
Stock-based compensation	10.9	4.89	7.02	6.85	4.24	4.74	4.07	4.58	6.08	6.12
Deferred income tax	2.73	11.3	-2.77	2.78	-8.08	12.3	-5.5	-4.92	2.8	-6.43
Cash from operations	136	152	139	127	140	205	175	92.9	128	153
Capital expenditures	-15.2	-3.72	-5.23	-10.9	-12.3	-17.5	-4.32	-8.56	-2.31	-11.6
Acquisitions	1,102	0	0	-28.8	262	0	0	0	0	30.9
Purchases of investments	-239	-218	-228	-200	-830	-705	-102	-23.5	-438	-496
Sales and maturities of investments	279	206	210	241	393	449	232	103	84	146
Cash from investing	1,151	-104	-282	-301	-561	-233	-917	-240	175	-127
Debt issued	0	0	0	0	123	0	0
Debt repaid	-775	0	0	0	-207	-22.1	-10.1	0	0	-35.4
Stock issued	10.9	7	8.19	9.73	1.48	14	5.17	0.63	2.46	0.93
Share buybacks	-1.75	0	0	0	-9.28	-23.9	0	0
Dividends paid	-60.2	-65.2	-69.9	-76.2	-93.1	-100	-101	-102	-102	-110
Cash from financing	-1,064	-360	134	165	1,096	570	-398	130	-137	-80.8
Net change in cash	222	-312	-8.92	-7.94	675	543	-1,140	-17.1	166	-54.7
Free cash flow	120	148	134	117	128	188	171	84.3	125	142
Income taxes paid	9.71	32.3	25.8	29.3	29.8	33.6	39.4	48	27.8	40.6

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 $15.31 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	23.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.9%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	25.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-1.9%	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	11.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	16.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-4.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.2%	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	20.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-4.4%	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	1.8%	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	13.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-6.1%	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	2.0%	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	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	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	1.0%	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	18.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.2%	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	4.2%	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	16.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.9%	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	4.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	88.8%	Total liabilities / total assets.
Goodwill and intangibles / assets	2.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.45B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	90.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	10.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
Book value per share	$13.17	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$9.88	Tangible book value / shares outstanding.
Cash per share	$1.70	(Cash + short-term investments) / shares outstanding.
Payout ratio	76.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	85.4%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.24B	Share price x shares outstanding.
Enterprise value	$1.99B	Market cap + total debt - cash - short-term investments.
P/E	14.7x	Market cap / net income. Only when net income is positive.
P/B	1.16x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.55x	Market cap / tangible book value, when positive.
P/FCF	16.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.6x	Market cap / cash from operations, when positive.
EV/FCF	14.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.1%	Free cash flow / market cap.
Earnings yield	6.8%	Net income / market cap (the inverse of P/E).
Dividend yield	5.2%	Dividends paid over the period / market cap.
Shareholder yield	5.2%	(Dividends paid + share buybacks) / market cap.

Was Northwest Bancshares, Inc. profitable in fiscal 2025?

Yes. Net income was $126.0M, a net margin of -.

How much free cash flow did Northwest Bancshares, Inc. generate in fiscal 2025?

Cash from operations of $153.4M minus capital expenditures of $11.6M left free cash flow of $141.8M.

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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