Bankwell Financial Group, Inc. Financial Ratios — BWFG Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	29.32	5.34	10.2	5.04	7.12	8.9	9.01	10.4	10.22	3.29	14.04	17	14.54	3.64	12.31
Return on Assets (%)	2.96	0.4	0.74	0.49	0.74	0.83	0.81	0.95	0.97	0.29	1.13	1.31	1.13	0.3	1.06
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	2.87	2.84	2.32	3.57	3.64	3.34	2.56	2.88	5.72	5.68	4.87	3.44	3.65	4.34	3.77
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	16.98	8.68	25.58	19.41	29.98	35.37	42.6	35.12	38.88	12.65	46.04	49.07	48.38	15.32	44.77
Profit Margin (%)	11.69	5.63	17.97	13.16	19.52	23.86	23.44	28.95	30.87	10.23	36.15	38.28	36.92	11.23	32.49
Net Income to Common Margin (%)	10.6	5.02	17.59	12.85	19.24	23.86	23.44	28.95	30.87	10.23	36.15	38.28	36.92	11.23	32.49
Effective Tax Rate (%)	31.15	35.11	29.73	32.2	34.9	32.55	44.96	17.59	20.6	19.13	21.48	22	23.69	26.7	27.42
Dvd Payout Ratio (%)	- -	- -	- -	- -	4.22	13.45	15.54	21.56	22.39	74.34	18.9	16.54	17.02	64.31	17.8
Sustainable Growth Rate (%)	29.32	5.34	10.2	5.04	6.82	7.7	7.61	8.16	7.93	0.84	11.39	14.19	12.07	1.3	10.12

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	91	44	129	145	185	224	185	175	200	84	159	159	159	180
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	91	44	129	145	185	224	185	175	200	84	159	159	159	180
Total Debt/EBITDA	- -	148.69	66.07	104.12	86.05	107.03	148.12	106.9	51.88	61.13	23.57	47.22	43.94	42.24	44
Net Debt/EBITDA	- -	101.43	-57.08	64.92	56.64	51.49	101.49	63.36	28.77	-62.6	-57.82	-55.25	-29.9	-35.52	-8.54
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	6.65	7.5	10.75	9.9	8.96	8.96	9.3	9.69	7.84	8.22	7.33	8.26	8.28	8.97
Long-Term Debt/Equity (%)	- -	176.58	63.32	99.84	110.04	126.84	139.17	106.29	96.06	113.4	41.81	66.66	59.91	58.94	59.6
Long-Term Debt/Capital (%)	- -	63.84	38.77	49.96	52.39	55.92	58.19	51.52	48.99	53.14	29.48	40	37.46	37.08	37.34
Long-Term Debt/Total Assets (%)	- -	14.92	5.64	11.73	10.9	11.36	12.47	9.88	9.31	8.89	3.44	4.89	4.95	4.88	5.35
Total Debt/Equity (%)	- -	176.58	63.32	99.84	110.04	126.84	139.17	106.29	96.06	113.4	41.81	66.66	59.91	58.94	59.6
Total Debt/Capital (%)	- -	63.84	38.77	49.96	52.39	55.92	58.19	51.52	48.99	53.14	29.48	40	37.46	37.08	37.34
Total Debt/Total Assets (%)	- -	14.92	5.64	11.73	10.9	11.36	12.47	9.88	9.31	8.89	3.44	4.89	4.95	4.88	5.35
Net Debt to Equity	- -	120.45	-54.71	62.26	72.43	61.02	95.36	63	53.27	-116.13	-102.56	-77.98	-40.76	-49.57	-11.57
Net Debt/Capital (%)	- -	54.64	-120.78	38.37	42	37.9	48.81	38.65	34.75	720.09	4,006.91	-354.2	-68.8	-98.3	-13.08
EBITDA	1	1	1	1	2	2	2	2	3	3	4	3	4	4	4
EBITDA-CapEx	- -	- -	- -	-1	1	-7	- -	-2	3	3	4	3	2	3	3
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	6.65	7.5	10.75	9.9	8.96	8.96	9.3	9.69	7.84	8.22	7.33	8.26	8.28	8.97
Long-Term Debt/Equity (%)	- -	176.58	63.32	99.84	110.04	126.84	139.17	106.29	96.06	113.4	41.81	66.66	59.91	58.94	59.6
Long-Term Debt/Capital (%)	- -	63.84	38.77	49.96	52.39	55.92	58.19	51.52	48.99	53.14	29.48	40	37.46	37.08	37.34
Long-Term Debt/Total Assets (%)	- -	14.92	5.64	11.73	10.9	11.36	12.47	9.88	9.31	8.89	3.44	4.89	4.95	4.88	5.35
Total Debt/Equity (%)	- -	176.58	63.32	99.84	110.04	126.84	139.17	106.29	96.06	113.4	41.81	66.66	59.91	58.94	59.6
Total Debt/Capital (%)	- -	63.84	38.77	49.96	52.39	55.92	58.19	51.52	48.99	53.14	29.48	40	37.46	37.08	37.34
Total Debt/Total Assets (%)	- -	14.92	5.64	11.73	10.9	11.36	12.47	9.88	9.31	8.89	3.44	4.89	4.95	4.88	5.35
CFO/Total Liabilities	- -	1.46	0.42	0.95	1.1	1.17	1.26	1.18	0.39	-0.07	1.53	2.74	1.08	1	0.92
CFO/CapEx	67.34	11.94	3.25	4.49	14.02	2.07	10.98	5.96	10.28	- -	- -	- -	15.61	48.84	24.71
Altman's Z-Score	- -	0.13	0.16	0.14	0.13	0.16	0.16	0.15	0.16	0.11	0.15	0.13	0.14	0.14	0.18

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	48.09	20.44	12.85	12.21	12.52	11.47	10.86	9.8	9.57	9.21	10.44	9.5	7.11	5.92	7.06
Days Sales Outstanding	7.59	17.86	28.4	29.89	29.16	31.83	33.62	37.23	38.15	39.64	34.97	38.41	51.33	61.67	51.69
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	89	138	151	149	248	266	225	227	155	256	228	238	245	362
- Cash & Cash Equivalents	- -	29	82	49	50	96	71	75	78	405	292	345	268	294	215
+ Preferred Equity and Hybrid Capital	- -	11	11	11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	91	44	129	145	185	224	185	175	200	84	159	159	159	180
Enterprise Value	- -	121	82	177	204	249	328	242	242	-139	-41	-62	120	79	292
Total Capital	- -	143	113	258	277	331	385	359	358	377	286	397	425	430	481
Total Debt/Capital (%)	- -	63.84	38.77	49.96	52.39	55.92	58.19	51.52	48.99	53.14	29.48	40	37.46	37.08	37.34
Total Debt / EV	- -	0.75	0.54	0.73	0.71	0.74	0.68	0.77	0.73	-1.44	-2.05	-2.56	1.33	2.02	0.61
EV/Sales	- -	5.61	2.85	5.11	4.41	4.81	5.55	4.01	4.1	- -	- -	- -	1.21	0.91	2.7
EV/EBITDA	- -	197.41	122.93	143.11	121.1	143.98	216.49	139.57	71.56	- -	- -	- -	33.07	20.93	71.6
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	14.79	27.76	19.34	15.52	14.33	15.92	12.1	36.44	- -	- -	- -	3.75	2.64	10.34
EV/Free Cash Flow to Firm	- -	13.65	21.23	15.81	14.49	9.66	14.59	10.36	33.21	- -	- -	- -	3.53	2.59	9.94
Diluted Market Cap	86	89	138	118	142	243	263	223	225	151	255	225	231	241	359
Diluted Enterprise Value	86	162	110	209	237	332	417	333	322	-54	48	39	122	107	324
EV per Share	13	18.36	12.44	24.68	27.15	32.67	42.26	30.83	30.71	- -	- -	- -	15.2	10.05	37.01
TTM Sales	19	22	29	35	46	52	59	60	59	58	74	98	99	87	108
TTM EBITDA	1	1	1	1	2	2	2	2	3	3	4	3	4	4	4
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	6	8	3	9	13	17	21	20	7	-2	35	83	32	30	28
TTM Free Cash Flow to Firm	7	9	4	11	14	26	22	23	7	-2	35	83	34	31	29

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	13.04	10.03	35.65	10.5	10.06	9.45	11.73	9.57	30.86	-100.19	7.38	2.72	6.79	7.89	12.19
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	121	82	177	204	249	328	242	242	-139	-41	-62	120	79	292
Low Price	12.6	12.5	13.5	15.91	17.33	18.48	28.79	26.39	24.67	12.07	18.71	27.76	21.22	22.47	26.39
EV/Sales	- -	5.61	2.85	5.11	4.41	4.81	5.55	4.01	4.1	- -	- -	- -	1.21	0.91	2.7
EV/EBITDA	- -	197.41	122.93	143.11	121.1	143.98	216.49	139.57	71.56	- -	- -	- -	33.07	20.93	71.6
Price/Earnings	42.81	82.09	27.23	26.28	15.76	19.46	18.8	12.72	12.28	25.59	9.52	5.95	6.25	24.58	10.09
Price/Earnings Average	45.21	82.36	25.94	24.31	14.98	13.57	18.31	13.95	12.18	23.8	8.07	6.53	5.44	21.58	8.28
Price/Earnings High	52.69	94.25	29.96	27.53	16.77	20.84	21.08	15.84	13.58	38.3	9.85	7.45	6.54	27.82	11.35
Price/Earnings Low	41.49	76.01	17.59	19.91	13.76	11.07	15.76	11.69	10.51	15.8	5.42	5.61	4.39	17.73	5.81
Price/Book Value	- -	2.19	2.35	1.28	1.13	1.7	1.65	1.29	1.24	0.88	1.27	0.95	0.9	0.91	1.2
Price/Book Value Average	- -	2.2	2.24	1.18	1.08	1.18	1.61	1.42	1.23	0.82	1.07	1.05	0.78	0.79	0.99
Price/Book Value High	- -	2.51	2.59	1.34	1.2	1.82	1.85	1.61	1.38	1.31	1.31	1.2	0.94	1.02	1.35
Price/Book Value Low	- -	2.03	1.52	0.97	0.99	0.97	1.39	1.19	1.06	0.54	0.72	0.9	0.63	0.65	0.69
Price/Tangible Book Value	- -	2.19	2.37	1.31	1.16	1.73	1.68	1.31	1.26	0.89	1.29	0.96	0.9	0.91	1.21
Price/Tangible Book Value Average	- -	2.2	2.26	1.22	1.1	1.21	1.64	1.44	1.25	0.83	1.09	1.06	0.79	0.8	0.99
Price/Tangible Book Value High	- -	2.51	2.61	1.38	1.24	1.86	1.89	1.64	1.4	1.33	1.33	1.21	0.95	1.03	1.36
Price/Tangible Book Value Low	- -	2.03	1.53	1	1.01	0.99	1.41	1.21	1.08	0.55	0.73	0.91	0.64	0.66	0.7
Price/Sales	4.54	4.12	4.79	3.38	3.03	4.64	4.41	3.68	3.79	2.62	3.44	2.28	2.31	2.76	3.28
Price/Sales Average	4.79	4.14	4.56	3.12	2.88	3.24	4.29	4.04	3.76	2.43	2.92	2.5	2.01	2.42	2.69
Price/Sales High	5.58	4.73	5.27	3.54	3.23	4.97	4.94	4.58	4.19	3.92	3.56	2.85	2.42	3.12	3.69
Price/Sales Low	4.4	3.82	3.09	2.56	2.65	2.64	3.7	3.38	3.24	1.62	1.96	2.15	1.62	1.99	1.89
Price/Cash Flow	13.23	10.88	46.63	12.77	10.68	13.84	12.64	11.1	33.74	-99.93	7.32	2.69	7.17	8.02	12.56
Price/Cash Flow Average	13.97	10.91	44.42	11.82	10.15	9.65	12.31	12.18	33.45	-92.94	6.21	2.95	6.24	7.04	10.31
Price/Cash Flow High	16.28	12.49	51.31	13.38	11.36	14.82	14.17	13.82	37.31	-149.56	7.58	3.37	7.51	9.08	14.13
Price/Cash Flow Low	12.82	10.07	30.12	9.68	9.32	7.87	10.6	10.2	28.86	-61.69	4.17	2.54	5.04	5.79	7.23
Price/Free Cash Flow Average	13.77	10.07	33.96	9.72	9.56	6.59	11.42	10.5	30.59	-93.18	6.25	2.98	5.91	6.93	10
Price/Free Cash Flow High	16.04	11.52	39.23	11	10.71	10.11	13.16	11.92	34.12	-149.95	7.63	3.41	7.12	8.93	13.71
Price/Free Cash Flow Low	12.63	9.29	23.03	7.95	8.79	5.37	9.84	8.8	26.39	-61.85	4.2	2.57	4.78	5.69	7.02
EV/Sales Average	- -	7.53	3.62	6.66	5.13	5.06	7	5.92	5.46	- -	0.14	0.65	0.99	0.93	2.42
EV/Sales High	- -	8.12	4.33	7.19	5.49	6.84	7.66	6.48	5.9	0.46	0.79	1.01	1.42	1.64	3.44
EV/Sales Low	- -	7.21	2.15	5.93	4.88	4.44	6.39	5.26	4.94	- -	- -	0.29	0.59	0.49	1.6
EV/EBITDA Average	- -	264.97	156.11	186.48	140.79	151.37	272.77	206	95.39	-18.65	2.78	18.93	27.24	21.42	64.2
EV/EBITDA High	- -	286	186.62	201.37	150.85	204.87	298.74	225.23	103.08	8.13	16.21	29.43	38.88	37.87	91.16
EV/EBITDA Low	- -	253.74	92.77	166.05	133.94	132.94	248.99	182.85	86.25	-33.42	-17.07	8.51	16.27	11.26	42.51
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	13	13.5	20.9	21	19.85	32.5	34.34	28.71	28.84	19.55	32.84	29.43	30.18	31.15	45.82
High Price	16	15.5	23	22	21.12	34.8	38.5	35.75	31.89	29.26	33.99	36.87	31.61	35.25	51.54
Enterprise Value Average	- -	162	104	231	237	262	413	357	322	-61	10	64	99	81	262
Enterprise Value High	- -	175	124	250	254	354	452	390	348	27	58	99	141	143	372
Enterprise Value Low	- -	155	62	206	226	230	377	317	291	-109	-61	29	59	43	174

Shares Outstanding	- -	7	7	7	8	8	8	8	8	8	8	8	8	8	8
Diluted Weighted Avg Shares	7	7	7	6	7	7	8	8	8	8	8	8	8	8	8
Basic Weighted Avg Shares	7	7	7	6	7	7	8	8	8	8	8	8	8	8	8
Revenue per Share	2.87	3.28	4.36	6.22	6.54	7	7.79	7.8	7.61	7.47	9.54	12.93	13.09	11.28	13.98
EBITDA per Share	0.08	0.09	0.1	0.22	0.24	0.23	0.2	0.22	0.44	0.42	0.46	0.45	0.48	0.49	0.53
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.3	0.16	0.77	0.8	1.26	1.67	1.83	2.26	2.35	0.76	3.45	4.95	4.83	1.27	4.54
Basic EPS from Cont Ops	0.34	0.18	0.78	0.82	1.28	1.67	1.83	2.26	2.35	0.76	3.45	4.95	4.83	1.27	4.54
Diluted EPS, GAAP	0.3	0.16	0.77	0.8	1.25	1.65	1.8	2.24	2.34	0.76	3.43	4.9	4.79	1.26	4.5
Diluted EPS from Cont Ops	0.34	0.18	0.78	0.81	1.26	1.65	1.8	2.24	2.34	0.76	3.43	4.9	4.79	1.26	4.5
Dividend per Share	0.03	0.02	0.02	0.02	0.07	0.22	0.28	0.49	0.53	0.57	0.65	0.82	0.82	0.81	0.81
Cash Flow per Share	0.98	1.24	0.45	1.64	1.86	2.35	2.72	2.59	0.85	-0.2	4.48	10.93	4.21	3.88	3.65
Free Cash Flow per Basic Share	0.97	1.14	0.31	1.28	1.73	1.21	2.47	2.15	0.77	-0.2	4.48	10.93	3.94	3.8	3.5
Cash & Equivalents per Share	- -	10.64	16.81	15.81	11.99	24.12	20.99	21.49	20.4	62.37	48.93	58.03	35.18	41.38	31.55
Book Value per Share	- -	6.16	8.89	16.45	17.53	19.14	20.77	22.21	23.18	22.3	25.89	30.85	33.71	34.42	38.16
Tangible Book Value per Share	- -	6.16	8.82	15.98	17.1	18.74	20.39	21.85	22.82	21.96	25.55	30.51	33.39	34.09	37.84

Bankwell Financial Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)