AMAL

MKT CAP:$1B

Amalgamated Financial Corp.

Market Cap

$1B

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$40.49+$8.55 (+26.77%)

Apr 24, 2026

Company Details

Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United State...

CEO

Priscilla Sims Brown

IPO Date

Aug 9, 2018

Website

www.amalgamatedbank.com

Key Metrics TTM

Revenue

$468M

+6.4% YoY

Net Income

$105M

EPS (Diluted)

$3.44

Free Cash Flow

$131M

Revenue / Share

$15.52

Gross Margin

68.6%

Operating Margin

29.8%

Net Margin

22.4%

FCF Margin

27.9%

P/S

2.6x

P/E

11.5x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$123M+11.9%EPS $0.84

FY 2025

Mar 5, 2026

$455M+4.5%EPS $3.41

Q4 2025

Mar 5, 2026

$115M+6.8%EPS $0.88

Q3 2025

Nov 4, 2025

$118M+4.9%EPS $0.88

Q2 2025

Jun 29, 2025

$112M+2.1%EPS $0.84

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$67M	$61M	$26M
Q3 22	$77M	$68M	$31M
Q4 22	$84M	$69M	$32M
Q1 23	$90M	$67M	$29M
Q2 23	$93M	$66M	$29M
Q3 23	$97M	$68M	$31M
Q4 23	$102M	$69M	$35M
Q1 24	$105M	$75M	$39M
Q2 24	$110M	$77M	$36M
Q3 24	$113M	$80M	$38M
Q4 24	$108M	$75M	$33M
Q1 25	$110M	$79M	$35M
Q2 25	$112M	$76M	$35M
Q3 25	$118M	$80M	$37M
Q4 25	$115M	$85M	$33M
Q1 26	$123M	$80M	$34M

Valuation

Quarter	P/S	P/E
Q2 22	5.2x	18.8x
Q3 22	4.7x	16.6x
Q4 22	4.2x	14.8x
Q1 23	3.8x	13.6x
Q2 23	3.5x	13.3x
Q3 23	3.3x	13.4x
Q4 23	3.1x	13.7x
Q1 24	3.0x	12.8x
Q2 24	2.9x	12.2x
Q3 24	2.8x	11.5x
Q4 24	2.8x	11.3x
Q1 25	2.7x	11.6x
Q2 25	2.7x	11.6x
Q3 25	2.7x	11.8x
Q4 25	2.6x	11.5x
Q1 26	2.6x	11.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$17M	$16M
Q2 22	$51M	$51M
Q3 22	$26M	$26M
Q4 22	$52M	$52M
Q1 23	$35M	$35M
Q2 23	$27M	$27M
Q3 23	$40M	$39M
Q4 23	$15M	$15M
Q1 24	$31M	$31M
Q2 24	$28M	$28M
Q3 24	$36M	$35M
Q4 24	$29M	$28M
Q1 25	$34M	$32M
Q2 25	$25M	$26M
Q3 25	$39M	$38M
Q4 25	$37M	$34M

Capital Expenditures

Quarter	CapEx
Q1 22	$818.0K
Q2 22	$107.0K
Q3 22	$562.0K
Q4 22	$181.0K
Q1 23	$263.0K
Q2 23	$580.0K
Q3 23	$376.0K
Q4 23	$258.0K
Q1 24	$207.0K
Q2 24	$245.0K
Q3 24	$585.0K
Q4 24	$738.0K
Q1 25	$2M
Q2 25	$712.0K
Q3 25	$1M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+32.3%	+11.1%
Q3 22	+48.1%	+40.7%
Q4 22	+52.0%	+52.4%
Q1 23	+56.6%	+59.3%
Q2 23	+40.2%	+59.4%
Q3 23	+26.6%	+44.3%
Q4 23	+20.8%	+26.4%
Q1 24	+16.8%	+9.0%
Q2 24	+17.6%	+15.9%
Q3 24	+15.5%	+12.1%
Q4 24	+6.1%	+12.5%
Q1 25	+4.3%	+12.5%
Q2 25	+2.1%	+3.6%
Q3 25	+4.9%	+9.6%
Q4 25	+6.8%	+9.5%
Q1 26	+11.9%	+18.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$890.0K	1.5%
Q2 22	$456.0K	0.7%
Q3 22	$608.0K	0.8%
Q4 22	$728.0K	0.9%
Q1 23	$1M	1.2%
Q2 23	$1M	1.3%
Q3 23	$1M	1.2%
Q4 23	$1M	1.2%
Q1 24	$1M	1.0%
Q2 24	$2M	1.4%
Q3 24	$1M	1.2%
Q4 24	$2M	1.5%
Q1 25	$1M	1.3%
Q2 25	$2M	1.5%
Q3 25	$2M	1.5%
Q4 25	$2M	1.7%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 22	$19M	$761.0K	—
Q3 22	$21M	$795.0K	—
Q4 22	$7M	$1M	—
Q1 23	$23M	$2M	—
Q2 23	$22M	$1M	—
Q3 23	$23M	$816.0K	—
Q4 23	$22M	$750.0K	—
Q1 24	$23M	$1M	—
Q2 24	$24M	$1M	—
Q3 24	$25M	$1M	—
Q4 24	$25M	$314.0K	—
Q1 25	$24M	$51.0K	—
Q2 25	$24M	$412.0K	—
Q3 25	$26M	$497.0K	—
Q4 25	—	—	$46M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$333M	$2.1B	$2.4B
Q3 22	$66M	$2.0B	$2.0B
Q4 22	$64M	$1.8B	$1.9B
Q1 23	$131M	$1.6B	$1.8B
Q2 23	$66M	$1.6B	$1.6B
Q3 23	$140M	$1.5B	$1.6B
Q4 23	$91M	$1.5B	$1.6B
Q1 24	$155M	$1.5B	$1.7B
Q2 24	$58M	$1.7B	$1.8B
Q3 24	$149M	$557M	$706M
Q4 24	$61M	$1.6B	$1.7B
Q1 25	$66M	$457M	$523M
Q2 25	$171M	$601M	$772M
Q3 25	$116M	$555M	$670M
Q4 25	$5M	$49M	$53M
Q1 26	$12M	$0	$12M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	31M	-0.8%	-1.2%
Q3 22	31M	-0.5%	-1.4%
Q4 22	31M	+0.1%	-1.5%
Q1 23	31M	-0.4%	-1.6%
Q2 23	31M	-0.5%	-1.3%
Q3 23	31M	-0.6%	-1.4%
Q4 23	31M	+0.1%	-1.4%
Q1 24	31M	+0.4%	-0.7%
Q2 24	31M	+0.3%	+0.2%
Q3 24	31M	+0.3%	+1.0%
Q4 24	31M	+0.1%	+1.0%
Q1 25	31M	+0.0%	+0.7%
Q2 25	31M	-0.6%	-0.2%
Q3 25	30M	-1.1%	-1.6%
Q4 25	30M	-0.5%	-2.1%
Q1 26	30M	-0.4%	-2.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$177.5K	375
Q3 22	$205.3K	375
Q4 22	$205.8K	409
Q1 23	$220.0K	409
Q2 23	$228.1K	409
Q3 23	$238.3K	409
Q4 23	$239.3K	425
Q1 24	$247.3K	425
Q2 24	$258.3K	425
Q3 24	$264.9K	425
Q4 24	$251.5K	429
Q1 25	$255.5K	429
Q2 25	$261.2K	429
Q3 25	$275.4K	429
Q4 25	$256.0K	450
Q1 26	$272.4K	450

Revenue / Employee