EBC

MKT CAP:$4B

Eastern Bankshares, Inc.

Market Cap

$4B

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$20.51+$1.97 (+10.63%)

Apr 23, 2026

Company Details

Eastern Bankshares, Inc. operates as the bank holding company for Eastern Bank that provides banking products and services primarily to retail, commercial, and small business customers. It operates in two segments, Banking Business and Insu...

CEO

Denis K. Sheahan

IPO Date

Oct 15, 2020

Website

www.easternbank.com

Key Metrics TTM

Revenue

$1.0B

+18.0% YoY

Net Income

$371M

EPS (Diluted)

$1.78

Free Cash Flow

$413M

Revenue / Share

$4.60

Gross Margin

73.4%

Operating Margin

36.7%

Net Margin

36.2%

FCF Margin

40.2%

P/S

4.3x

P/E

11.9x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$0-100.0%EPS $0.29

FY 2025

Mar 2, 2026

$1.1B-1.4%EPS $0.40

Q4 2025

Mar 2, 2026

$382M+24.1%EPS $0.46

Q3 2025

Nov 6, 2025

$323M+7.7%EPS $0.53

Q2 2025

Aug 8, 2025

$322M+38.3%EPS $0.50

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$145M	$146M	$48M
Q4 21	$173M	$175M	$32M
Q1 22	$176M	$173M	$66M
Q2 22	$181M	$177M	$67M
Q3 22	$175M	$163M	$69M
Q4 22	$217M	$181M	$51M
Q1 23	-$122M	-$173M	-$267M
Q1 24	$230M	$150M	$49M
Q2 24	$232M	$148M	$38M
Q3 24	$300M	$156M	-$3M
Q4 24	$308M	$210M	$72M
Q1 25	$30M	-$54M	-$184M
Q2 25	$322M	$237M	$100M
Q3 25	$323M	$233M	$94M
Q4 25	$382M	$284M	$94M
Q1 26	$0	$0	$89M

Valuation

Quarter	P/S	P/E
Q3 21	5.8x	45.8x
Q4 21	5.6x	22.7x
Q1 22	5.8x	23.3x
Q2 22	4.7x	18.1x
Q3 22	4.6x	16.8x
Q4 22	3.8x	14.3x
Q1 23	4.6x	—
Q1 24	4.4x	—
Q2 24	4.0x	—
Q3 24	4.2x	—
Q4 24	3.2x	28.4x
Q1 25	3.8x	—
Q2 25	3.2x	—
Q3 25	3.7x	72.8x
Q4 25	3.5x	42.0x
Q1 26	4.0x	11.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$5M	-$6M
Q3 21	$67M	$65M
Q4 21	$47M	$45M
Q1 22	$68M	$65M
Q2 22	$97M	$96M
Q3 22	$61M	$59M
Q4 22	$3M	$1M
Q1 23	$101M	$99M
Q1 24	$33M	$30M
Q2 24	$54M	$50M
Q3 24	$108M	$107M
Q4 24	$89M	$83M
Q1 25	$47M	$46M
Q2 25	$124M	$119M
Q3 25	$157M	$148M
Q4 25	$104M	$100M

Capital Expenditures

Quarter	CapEx
Q2 21	$1M
Q3 21	$2M
Q4 21	$2M
Q1 22	$3M
Q2 22	$2M
Q3 22	$2M
Q4 22	$2M
Q1 23	$1M
Q1 24	$2M
Q2 24	$4M
Q3 24	$2M
Q4 24	$5M
Q1 25	$2M
Q2 25	$5M
Q3 25	$9M
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-1.1%	-12.7%
Q4 21	+13.3%	-29.5%
Q1 22	+13.9%	+18.5%
Q2 22	+21.1%	+10.1%
Q3 22	+20.7%	+9.3%
Q4 22	+25.4%	+17.9%
Q1 23	-169.4%	+32.4%
Q1 24	+27.2%	+59.5%
Q2 24	+32.7%	+84.0%
Q3 24	+38.3%	+82.8%
Q4 24	+352.4%	+62.3%
Q1 25	-87.2%	+17.7%
Q2 25	+38.3%	+13.8%
Q3 25	+7.7%	-24.5%
Q4 25	+24.1%	+22.2%
Q1 26	-100.0%	-141.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$3M	1.7%
Q3 21	$2M	1.5%
Q4 21	$3M	1.5%
Q1 22	$4M	2.4%
Q2 22	$5M	2.9%
Q3 22	$6M	3.5%
Q4 22	$5M	2.2%
Q1 23	$5M	—
Q1 24	$5M	2.3%
Q2 24	$6M	2.5%
Q3 24	$8M	2.6%
Q4 24	$8M	2.5%
Q1 25	$7M	23.5%
Q2 25	$6M	1.9%
Q3 25	$6M	1.9%
Q4 25	$6M	1.6%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q3 21	$67M	$2M	—
Q4 21	$98M	$2M	—
Q1 22	$71M	$2M	—
Q2 22	$75M	$3M	—
Q3 22	$63M	$2M	—
Q4 22	$79M	$3M	—
Q1 23	$65M	$1M	—
Q1 24	$67M	$2M	—
Q2 24	$70M	$2M	—
Q3 24	$97M	$2M	—
Q4 24	$83M	$3M	—
Q1 25	$83M	$2M	—
Q2 25	$84M	$2M	—
Q3 25	$87M	$3M	—
Q4 25	—	—	$92M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$369M	$7.5B	$7.9B
Q3 22	$158M	$6.8B	$7.0B
Q4 22	$170M	$6.7B	$6.9B
Q1 23	$2.1B	$4.7B	$6.8B
Q2 23	$873M	$4.5B	$5.4B
Q3 23	$609M	$4.3B	$4.9B
Q4 23	$693M	$4.4B	$5.1B
Q1 24	$738M	$4.3B	$5.0B
Q2 24	$749M	$4.1B	$4.8B
Q3 24	$889M	$4.2B	$5.1B
Q4 24	$1.0B	$4.0B	$5.0B
Q1 25	$369M	$57M	$426M
Q2 25	$554M	$27M	$581M
Q3 25	$410M	$7M	$417M
Q4 25	$126M	$191M	$317M
Q1 26	$111M	$220M	$332M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	172M	+0.1%	-14.6%
Q4 21	172M	+0.1%	+0.4%
Q1 22	170M	-1.5%	-1.2%
Q2 22	167M	-2.0%	-3.3%
Q3 22	164M	-1.5%	-4.8%
Q4 22	162M	-1.1%	-5.9%
Q1 23	162M	-0.2%	-4.7%
Q1 24	163M	+0.7%	-2.0%
Q2 24	163M	+0.2%	-0.3%
Q3 24	198M	+20.9%	+21.8%
Q4 24	203M	+2.5%	+25.1%
Q1 25	201M	-0.6%	+23.4%
Q2 25	199M	-1.2%	+21.7%
Q3 25	200M	+0.3%	+0.9%
Q4 25	216M	+8.5%	+6.8%
Q1 26	223M	+3.2%	+10.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$3M	44
Q4 21	$91.4K	2K
Q1 22	$93.2K	2K
Q2 22	$95.9K	2K
Q3 22	$92.7K	2K
Q4 22	$111.1K	2K
Q1 23	-$62.6K	2K
Q1 24	$147.4K	2K
Q2 24	$148.8K	2K
Q3 24	$191.8K	2K
Q4 24	$169.9K	2K
Q1 25	$16.3K	2K
Q2 25	$177.4K	2K
Q3 25	$178.0K	2K
Q4 25	$156.0K	2K
Q1 26	$0	2K

Revenue / Employee