BFC (Bank First Corporation) Stock Financials & Earnings | Market Cap Arena

BFC (Bank First Corporation) Stock Financials & Earnings | Market Cap Arena

BFCBank First Corporation

Mkt Cap$2B

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

Revenue (TTM)$240M

Net Income (TTM)$71M

EPS (TTM)$7.23

Free Cash Flow (TTM)-$118M

Gross Margin70.3%

Op. Margin36.7%

Net Margin29.7%

FCF Margin-48.9%

P/S Ratio (TTM)6.4x

P/E Ratio (TTM)21.6x

YoY Rev Growth+7.7%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$45M	$32M	$14M
Q2 23	$48M	$37M	$19M
Q3 23	$51M	$38M	$20M
Q4 23	$43M	$27M	$46M
Q1 24	$53M	$37M	$17M
Q2 24	$54M	$38M	$20M
Q3 24	$58M	$40M	$21M
Q4 24	$58M	$41M	$22M
Q1 25	$60M	$42M	$22M
Q2 25	$59M	$40M	$21M
Q3 25	$60M	$42M	$22M
Q4 25	$61M	$45M	$23M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	10.4x	33.7x
Q2 23	9.3x	32.0x
Q3 23	8.5x	29.4x
Q4 23	8.3x	20.7x
Q1 24	7.9x	19.4x
Q2 24	7.7x	19.0x
Q3 24	7.4x	18.6x
Q4 24	6.9x	23.5x
Q1 25	6.7x	22.5x
Q2 25	6.6x	22.3x
Q3 25	6.5x	21.8x
Q4 25	6.4x	21.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$4M	$1M
Q2 23	$11M	$7M
Q3 23	$17M	$13M
Q4 23	$20M	$18M
Q1 24	$1M	$551K
Q2 24	$15M	$14M
Q3 24	$19M	$17M
Q4 24	$31M	$27M
Q1 25	$6M	$4M
Q2 25	$12M	$8M
Q3 25	$15M	$12M
Q4 25	-$140M	-$142M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$3M
Q2 23	$4M
Q3 23	$5M
Q4 23	$2M
Q1 24	$778K
Q2 24	$1M
Q3 24	$2M
Q4 24	$3M
Q1 25	$2M
Q2 25	$4M
Q3 25	$3M
Q4 25	$3M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+60.1%	+112.7%
Q2 23	+61.0%	+100.3%
Q3 23	+47.2%	+51.6%
Q4 23	+11.4%	-114.5%
Q1 24	+17.9%	+16.4%
Q2 24	+12.5%	+17.3%
Q3 24	+14.3%	+20.2%
Q4 24	+36.2%	+1264.0%
Q1 25	+14.7%	+8.0%
Q2 25	+7.7%	+9.7%
Q3 25	+3.9%	+1.2%
Q4 25	+5.2%	+5.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$456K	1.0%
Q2 23	$564K	1.2%
Q3 23	$561K	1.1%
Q4 23	$561K	1.3%
Q1 24	$554K	1.1%
Q2 24	$539K	1.0%
Q3 24	$540K	0.9%
Q4 24	$539K	0.9%
Q1 25	$551K	0.9%
Q2 25	$484K	0.8%
Q3 25	$551K	0.9%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$10M	$81K
Q2 23	$10M	$85K
Q3 23	$10M	$60K
Q4 23	$3M	$99K
Q1 24	$11M	$95K
Q2 24	$10M	$79K
Q3 24	$10M	$61K
Q4 24	$12M	$78K
Q1 25	$12M	$65K
Q2 25	$11M	$61K
Q3 25	$11M	$78K
Q4 25	$22M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$170M	$207M	$377M
Q2 23	$111M	$201M	$313M
Q3 23	$76M	$22M	$98M
Q4 23	$247M	$160M	$407M
Q1 24	$83M	$138M	$222M
Q2 24	$99M	$128M	$227M
Q3 24	$204M	$25M	$229M
Q4 24	$261M	$153M	$414M
Q1 25	$301M	$87M	$388M
Q2 25	$120M	$100M	$220M
Q3 25	$126M	$99M	$225M
Q4 25	$134M	$0	$134M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	10M	+8.3%
Q2 23	10M	+6.3%
Q3 23	10M	-0.2%
Q4 23	10M	+0.1%
Q1 24	10M	-1.6%
Q2 24	10M	-1.5%
Q3 24	10M	-0.1%
Q4 24	10M	+0.0%
Q1 25	10M	-0.4%
Q2 25	10M	-0.7%
Q3 25	10M	-0.7%
Q4 25	10M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	—	—
FY 15	—	—
FY 16	—	—
FY 17	—	—
FY 18	$334K	253
FY 19	$342K	284
FY 20	$373K	314
FY 21	$407K	287
FY 22	$342K	382
FY 23	$492K	379
FY 24	$610K	366
FY 25	$633K	380