Bridgewater Bancshares, Inc. Financial Ratios — 1WA Stock

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	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 (%)	- -	13.38	15.03	13.48	10.66	15.4	15.41	10.46	7.67	9.98
Return on Assets (%)	- -	1.17	1.5	1.48	1.05	1.43	1.36	0.89	0.68	0.88
Return on Capital (%)	- -	7.78	8.53	7.82	6.58	9.91	9.73	5.62	3.75	4.76
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	47.59	47.68	47.78	49.16	38.02	53.63	52.98	47.85	39.67	42.28
Profit Margin (%)	29.57	29.78	40.01	40.28	28.99	39.79	39.45	36.4	30.47	32.46
Net Income to Common Margin (%)	29.57	29.78	40.01	40.28	28.99	38.77	36.45	32.71	26.7	29.6
Effective Tax Rate (%)	37.86	37.54	16.25	18.06	23.75	25.8	25.54	23.92	23.19	23.23
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	13.38	15.03	13.48	10.66	15.4	15.41	10.46	7.67	9.98

Credit (USD)

Credit Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	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	72	110	164	174	142	135	190	413	453	508
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	72	110	164	174	142	135	190	413	453	508
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.15	8.48	11.2	10.79	9.07	8.99	7.54	7.78	7.73	8.33
Long-Term Debt/Equity (%)	62.41	79.85	74.04	71.18	53.59	35.53	48.13	96.95	98.9	98.28
Long-Term Debt/Capital (%)	38.43	44.4	42.54	41.58	34.89	26.21	32.49	49.23	49.72	49.57
Long-Term Debt/Total Assets (%)	5.71	6.78	8.29	7.68	4.86	3.87	4.36	8.94	8.94	9.4
Total Debt/Equity (%)	62.41	79.85	74.04	71.18	53.59	35.53	48.13	96.95	98.9	98.28
Total Debt/Capital (%)	38.43	44.4	42.54	41.58	34.89	26.21	32.49	49.23	49.72	49.57
Total Debt/Total Assets (%)	5.71	6.78	8.29	7.68	4.86	3.87	4.36	8.94	8.94	9.4
Net Debt to Equity	44.04	60.32	59.68	57.05	-8.02	-2.8	25.74	66.74	47.78	74.39
Net Debt/Capital (%)	30.57	37.62	37.37	36.32	-8.72	-2.88	20.47	40.03	32.33	42.66
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	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	9.15	8.48	11.2	10.79	9.07	8.99	7.54	7.78	7.73	8.33
Long-Term Debt/Equity (%)	62.41	79.85	74.04	71.18	53.59	35.53	48.13	96.95	98.9	98.28
Long-Term Debt/Capital (%)	38.43	44.4	42.54	41.58	34.89	26.21	32.49	49.23	49.72	49.57
Long-Term Debt/Total Assets (%)	5.71	6.78	8.29	7.68	4.86	3.87	4.36	8.94	8.94	9.4
Total Debt/Equity (%)	62.41	79.85	74.04	71.18	53.59	35.53	48.13	96.95	98.9	98.28
Total Debt/Capital (%)	38.43	44.4	42.54	41.58	34.89	26.21	32.49	49.23	49.72	49.57
Total Debt/Total Assets (%)	5.71	6.78	8.29	7.68	4.86	3.87	4.36	8.94	8.94	9.4
CFO/Total Liabilities	1.3	1.68	1.68	1.95	0.86	1.75	2.15	0.72	1.01	0.57
CFO/CapEx	6.81	20.16	7.91	2.54	0.93	69.8	52.05	10.11	11.37	4.76
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	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	- -	12.2	11.28	11.67	11.76	12.51	11.94	7.28	6.26	7.75
Days Sales Outstanding	- -	29.91	32.36	31.29	31.03	29.18	30.56	50.17	58.28	47.1
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)

Enterprise Value API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	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	- -	- -	290	396	353	495	484	368	359	486
- Cash & Cash Equivalents	21	27	32	35	164	145	88	129	234	124
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	67	67	67	67	67
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	72	110	164	174	142	135	190	413	453	508
Enterprise Value	- -	- -	169	246	-59	112	104	114	-124	611
Total Capital	187	247	385	419	408	514	584	838	911	1,025
Total Debt/Capital (%)	38.43	44.4	42.54	41.58	34.89	26.21	32.49	49.23	49.72	49.57
Total Debt / EV	- -	- -	0.97	0.71	-2.42	1.2	1.83	3.62	-3.64	0.83
EV/Sales	- -	- -	2.51	3.15	- -	0.97	0.77	1.04	- -	4.3
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	5.73	6.22	- -	2.06	1.22	3.8	- -	21.97
EV/Free Cash Flow to Firm	- -	- -	6.56	10.26	- -	2.09	1.24	4.21	- -	27.82
Diluted Market Cap	- -	- -	284	410	366	509	500	375	363	494
Diluted Enterprise Value	- -	- -	162	260	-46	125	120	121	-119	619
EV per Share	- -	- -	5.6	8.48	- -	3.97	3.74	4.11	- -	22.01
TTM Sales	45	57	67	78	94	115	135	110	108	142
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	15	25	29	40	23	54	85	30	46	28
TTM Free Cash Flow to Firm	13	24	26	24	-2	53	83	27	42	22

Multiples (USD)

Valuation Multiples API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	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	- -	- -	11.04	17.11	-219.33	9.52	6	13.85	8.59	22.48
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	- -	169	246	-59	112	104	114	-124	611
Low Price	- -	- -	9.64	9.83	8.09	12.5	14.99	8.03	10.65	10.53
EV/Sales	- -	- -	2.51	3.15	- -	0.97	0.77	1.04	- -	4.3
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	10.38	12.78	13.19	11.06	9.82	10.27	12.39	11.44
Price/Earnings Average	- -	- -	13.21	10.57	11.26	10.34	9.7	8.79	12.34	10.15
Price/Earnings High	- -	- -	14.58	12.78	14.34	12.55	11.42	13.9	14.92	14.1
Price/Earnings Low	- -	- -	10.38	9.19	8.5	7.87	8.44	6.22	10.15	6.88
Price/Book Value	- -	- -	1.31	1.62	1.33	1.58	1.48	1.02	0.92	1.08
Price/Book Value Average	- -	- -	1.67	1.34	1.14	1.48	1.46	0.88	0.91	0.96
Price/Book Value High	- -	- -	1.84	1.62	1.45	1.8	1.72	1.39	1.1	1.33
Price/Book Value Low	- -	- -	1.31	1.16	0.86	1.13	1.27	0.62	0.75	0.65
Price/Tangible Book Value	- -	- -	1.33	1.64	1.35	1.6	1.49	1.03	0.96	1.13
Price/Tangible Book Value Average	- -	- -	1.7	1.36	1.15	1.5	1.47	0.88	0.96	1
Price/Tangible Book Value High	- -	- -	1.87	1.64	1.47	1.82	1.74	1.4	1.16	1.39
Price/Tangible Book Value Low	- -	- -	1.33	1.18	0.87	1.14	1.28	0.63	0.79	0.68
Price/Sales	- -	- -	4.15	5.15	3.82	4.29	3.58	3.36	3.31	3.39
Price/Sales Average	- -	- -	5.29	4.26	3.26	4.01	3.54	2.87	3.29	3
Price/Sales High	- -	- -	5.84	5.15	4.16	4.86	4.16	4.55	3.98	4.17
Price/Sales Low	- -	- -	4.15	3.7	2.46	3.05	3.08	2.04	2.71	2.04
Price/Cash Flow	- -	- -	9.5	10.15	15.58	9.07	5.7	12.28	7.69	17.29
Price/Cash Flow Average	- -	- -	12.1	8.4	13.3	8.49	5.63	10.51	7.65	15.34
Price/Cash Flow High	- -	- -	13.35	10.15	16.95	10.3	6.63	16.63	9.26	21.31
Price/Cash Flow Low	- -	- -	9.5	7.3	10.04	6.46	4.9	7.45	6.29	10.4
Price/Free Cash Flow Average	- -	- -	14.06	14.16	-187.19	8.9	5.93	11.85	8.56	19.94
Price/Free Cash Flow High	- -	- -	15.51	17.11	-238.53	10.8	6.98	18.74	10.35	27.7
Price/Free Cash Flow Low	- -	- -	11.04	12.31	-141.36	6.77	5.16	8.39	7.04	13.52
EV/Sales Average	- -	- -	3.68	2.28	- -	0.7	0.72	0.56	- -	3.92
EV/Sales High	- -	- -	4.25	3.15	- -	1.56	1.35	2.22	- -	5.1
EV/Sales Low	- -	- -	2.51	1.73	- -	- -	0.26	- -	- -	2.94
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	9.64	13.67	12.55	17.56	17.45	13.25	13.01	17.51
High Price	- -	- -	13.54	13.67	13.65	19.93	20.3	17.93	15.67	21.57
Enterprise Value Average	- -	- -	248	177	-111	80	98	61	-126	556
Enterprise Value High	- -	- -	286	246	-28	179	183	244	-51	724
Enterprise Value Low	- -	- -	169	135	-184	-31	35	-31	-189	417

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	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

Shares Outstanding	29	29	30	29	28	28	28	28	28	28
Diluted Weighted Avg Shares	30	29	29	30	29	29	29	28	28	28
Basic Weighted Avg Shares	30	29	29	29	29	28	28	28	27	27
Revenue per Share	1.49	1.95	2.32	2.66	3.28	4.1	4.88	3.94	3.93	5.17
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.44	0.58	0.93	1.07	0.95	1.59	1.78	1.29	1.05	1.53
Basic EPS from Cont Ops	0.44	0.58	0.93	1.07	0.95	1.63	1.92	1.44	1.2	1.68
Diluted EPS, GAAP	0.44	0.58	0.91	1.05	0.93	1.54	1.72	1.27	1.03	1.49
Diluted EPS from Cont Ops	0.44	0.58	0.91	1.05	0.93	1.58	1.86	1.41	1.18	1.63
Dividend per Share	- -	- -	- -	- -	- -	0.04	0.15	0.15	0.15	0.15
Cash Flow per Share	0.5	0.86	1.01	1.35	0.81	1.94	3.06	1.08	1.69	1.01
Free Cash Flow per Basic Share	0.42	0.81	0.89	0.82	-0.06	1.91	3	0.97	1.54	0.8
Cash & Equivalents per Share	8.2	8.82	9.47	11.2	19.69	20.73	22.95	26.4	36.38	16.2
Book Value per Share	3.97	4.72	7.34	8.45	9.43	11.09	11.8	12.94	14.21	16.23
Tangible Book Value per Share	3.83	4.59	7.22	8.33	9.31	10.98	11.7	12.84	13.49	15.55