BVFL

MKT CAP:$178M

BV Financial, Inc.

Market Cap

$178M

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$20.05+$1.88 (+10.35%)

Apr 22, 2026

Company Details

BV Financial, Inc. operates as the holding company for BayVanguard Bank that provides various financial services to individuals and businesses in Maryland. The company offers checking and money market accounts, savings accounts, and certifi...

CEO

Michael J. Dee

IPO Date

Feb 17, 2005

Website

www.bayvanguard.com

Key Metrics TTM

Revenue

$52M

+4.2% YoY

Net Income

$12M

EPS (Diluted)

$1.36

Free Cash Flow

$19M

Revenue / Share

—

Gross Margin

60.1%

Operating Margin

27.4%

Net Margin

24.0%

FCF Margin

36.1%

P/S

3.4x

P/E

14.3x

Earnings Reports

Q1 2026

Apr 24, 2026

NEW

$12M-2.7%EPS $0.13

FY 2025

Mar 27, 2026

$52M+6.6%EPS $1.43

Q4 2025

Mar 27, 2026

$14M+10.1%EPS $0.56

Q3 2025

Nov 13, 2025

$13M+2.9%EPS $0.38

Q2 2025

Aug 13, 2025

$13M+6.4%EPS $0.29

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$9M	$8M	$3M
Q3 22	$9M	$8M	$4M
Q4 22	$12M	$10M	$4M
Q1 23	$10M	$9M	$4M
Q2 23	$12M	$10M	$5M
Q3 23	$12M	$10M	$5M
Q4 23	$12M	$9M	$4M
Q1 24	$12M	$9M	$4M
Q2 24	$12M	$10M	$5M
Q3 24	$13M	$11M	$5M
Q4 24	$13M	$9M	$3M
Q1 25	$12M	$9M	$3M
Q2 25	$13M	$10M	$4M
Q3 25	$13M	$11M	$5M
Q4 25	$14M	$11M	$5M
Q1 26	$12M	$0	$0

Valuation

Quarter	P/S	P/E
Q2 22	4.6x	15.6x
Q3 22	4.6x	15.6x
Q4 22	4.8x	17.6x
Q1 23	4.3x	15.4x
Q2 23	4.4x	15.4x
Q3 23	2.3x	8.1x
Q4 23	2.8x	9.5x
Q1 24	2.0x	7.3x
Q2 24	2.3x	8.8x
Q3 24	2.9x	11.2x
Q4 24	3.8x	15.9x
Q1 25	3.3x	14.7x
Q2 25	3.0x	14.2x
Q3 25	3.1x	15.0x
Q4 25	3.2x	12.5x
Q1 26	3.1x	12.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$2M	$2M
Q2 22	$1M	$1M
Q3 22	$5M	$5M
Q4 22	$2M	$2M
Q1 23	$4M	$4M
Q2 23	$57M	$57M
Q3 23	-$49M	-$49M
Q4 23	$3M	$3M
Q1 24	$5M	$4M
Q2 24	$2M	$1M
Q3 24	$6M	$6M
Q4 24	$4M	$4M
Q1 25	$4M	$4M
Q2 25	$3M	$3M
Q3 25	$8M	$8M
Q4 25	$3M	$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$63.0K
Q2 22	$125.0K
Q3 22	$21.0K
Q4 22	$293.0K
Q1 23	$49.0K
Q2 23	$80.0K
Q3 23	$12.0K
Q4 23	$38.0K
Q1 24	$435.0K
Q2 24	$55.0K
Q3 24	$104.0K
Q4 24	$17.0K
Q1 25	$217.0K
Q2 25	$139.0K
Q3 25	$13.0K
Q4 25	$132.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+17.5%	+16.5%
Q3 22	+18.4%	+13.0%
Q4 22	+41.5%	+56.3%
Q1 23	+17.9%	+14.5%
Q2 23	+33.1%	+21.5%
Q3 23	+34.8%	+31.8%
Q4 23	+4.1%	+5.6%
Q1 24	+10.4%	+28.9%
Q2 24	+2.5%	+11.8%
Q3 24	+3.5%	+3.8%
Q4 24	+3.2%	+19.3%
Q1 25	+7.2%	+21.7%
Q2 25	+6.4%	+20.8%
Q3 25	+2.9%	+5.7%
Q4 25	+10.1%	-10.8%
Q1 26	-2.7%	+24.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$41.0K	0.5%
Q2 22	$72.0K	0.8%
Q3 22	$370.0K	4.0%
Q4 22	-$225.0K	-1.9%
Q1 23	$65.0K	0.6%
Q2 23	$62.0K	0.5%
Q3 23	$333.0K	2.7%
Q4 23	$408.0K	3.4%
Q1 24	$27.0K	0.2%
Q2 24	$217.0K	1.8%
Q3 24	$117.0K	0.9%
Q4 24	$2M	13.7%
Q1 25	$1M	10.2%
Q2 25	$1M	9.8%
Q3 25	$1M	8.3%
Q4 25	-$3M	-24.2%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$2M	$7.0K
Q3 22	$3M	$5.0K
Q4 22	$3M	$6.0K
Q1 23	$3M	$13.0K
Q2 23	$3M	$14.0K
Q3 23	$3M	$5.0K
Q4 23	$3M	$11.0K
Q1 24	$3M	$5.0K
Q2 24	$3M	$6.0K
Q3 24	$4M	$6.0K
Q4 24	$4M	$7.0K
Q1 25	$5M	$6.0K
Q2 25	$4M	$3.0K
Q3 25	$239.0K	$5.0K
Q4 25	$4M	$23.0K
Q1 26	$237.0K	$15.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$105M	$36M	$141M
Q3 22	$78M	$35M	$113M
Q4 22	$69M	$33M	$102M
Q1 23	$65M	$36M	$101M
Q2 23	$110M	$34M	$144M
Q3 23	$114M	$36M	$150M
Q4 23	$74M	$35M	$109M
Q1 24	$79M	$34M	$113M
Q2 24	$91M	$33M	$124M
Q3 24	$94M	$39M	$133M
Q4 24	$71M	$37M	$108M
Q1 25	$71M	$35M	$106M
Q2 25	$5M	$35M	$40M
Q3 25	$64M	$34M	$98M
Q4 25	$6M	$33M	$39M
Q1 26	$7M	$33M	$40M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	7M	+0.3%	+3.2%
Q3 22	8M	+7.3%	+12.2%
Q4 22	8M	+0.6%	+11.5%
Q1 23	8M	-0.5%	+7.8%
Q2 23	7M	-7.0%	-0.1%
Q3 23	11M	+43.1%	+33.2%
Q4 23	11M	+1.1%	+33.8%
Q1 24	11M	-0.2%	+34.2%
Q2 24	11M	-1.0%	+43.0%
Q3 24	11M	+1.5%	+1.4%
Q4 24	11M	+0.5%	+0.9%
Q1 25	10M	-7.8%	-6.8%
Q2 25	10M	-1.4%	-7.2%
Q3 25	10M	0.0%	-8.6%
Q4 25	9M	-13.0%	-20.9%
Q1 26	0	-100.0%	-100.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$263.1K	34
Q3 22	$270.8K	34
Q4 22	$343.6K	34
Q1 23	$308.7K	34
Q2 23	$350.3K	34
Q3 23	$365.0K	34
Q4 23	$113.7K	107
Q1 24	$108.2K	107
Q2 24	$114.0K	107
Q3 24	$120.1K	107
Q4 24	$116.3K	108
Q1 25	$114.9K	108
Q2 25	$120.2K	108
Q3 25	$122.4K	108
Q4 25	$139.6K	99
Q1 26	$122.0K	99

Revenue / Employee