EQBK

MKT CAP:$950M

Equity Bancshares, Inc.

Market Cap

$950M

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

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$45.55+$0.69 (+1.54%)

Apr 20, 2026

Company Details

Equity Bancshares, Inc. operates as the bank holding company for Equity Bank that provides a range of banking, mortgage banking, and financial services to individual and corporate customers. The company accepts various demand, savings, mone...

CEO

Brad S. Elliott

IPO Date

Nov 11, 2015

Website

www.equitybank.com

Key Metrics TTM

Revenue

$347M

+4.5% YoY

Net Income

$25M

EPS (Diluted)

$1.34

Free Cash Flow

$39M

Revenue / Share

$18.09

Gross Margin

51.3%

Operating Margin

10.4%

Net Margin

7.1%

FCF Margin

11.1%

P/S

2.7x

P/E

38.5x

Earnings Reports

Q1 2026

Apr 14, 2026

NEW

$118M+39.3%EPS $0.88

FY 2025

Mar 6, 2026

$314M-3.8%EPS $1.23

Q4 2025

Mar 6, 2026

$100M+20.8%EPS $1.15

Q3 2025

Nov 3, 2025

$48M-42.6%EPS -$1.55

Q2 2025

Aug 8, 2025

$82M-0.4%EPS $0.86

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$52M	$47M	$17M
Q3 22	$57M	$50M	$19M
Q4 22	$61M	$49M	$15M
Q1 23	$65M	$48M	$15M
Q2 23	$67M	$45M	$13M
Q3 23	$73M	$48M	$14M
Q4 23	$20M	-$5M	-$40M
Q1 24	$78M	$53M	$18M
Q2 24	$82M	$54M	$16M
Q3 24	$83M	$53M	$24M
Q4 24	$83M	$57M	$20M
Q1 25	$84M	$57M	$19M
Q2 25	$82M	$58M	$18M
Q3 25	$48M	-$29M	-$31M
Q4 25	$100M	$73M	$26M
Q1 26	$118M	$77M	$22M

Valuation

Quarter	P/S	P/E
Q2 22	2.4x	9.1x
Q3 22	2.3x	8.5x
Q4 22	2.3x	8.9x
Q1 23	1.6x	7.0x
Q2 23	1.4x	7.0x
Q3 23	1.4x	7.7x
Q4 23	2.4x	68.2x
Q1 24	2.1x	53.6x
Q2 24	2.1x	54.2x
Q3 24	2.5x	37.8x
Q4 24	2.1x	10.9x
Q1 25	2.1x	10.8x
Q2 25	2.1x	10.6x
Q3 25	2.4x	40.8x
Q4 25	2.7x	38.0x
Q1 26	2.4x	34.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$8M	$7M
Q2 22	$35M	$35M
Q3 22	$15M	$14M
Q4 22	$16M	$14M
Q1 23	$19M	$15M
Q2 23	$19M	$17M
Q3 23	$25M	$19M
Q4 23	$13M	$9M
Q1 24	$13M	$11M
Q2 24	$16M	$15M
Q3 24	$23M	$20M
Q4 24	$22M	$20M
Q1 25	$22M	$20M
Q2 25	$28M	$26M
Q3 25	$8M	$4M
Q4 25	-$7M	-$12M

Capital Expenditures

Quarter	CapEx
Q1 22	$309.0K
Q2 22	$413.0K
Q3 22	$477.0K
Q4 22	$2M
Q1 23	$4M
Q2 23	$3M
Q3 23	$6M
Q4 23	$4M
Q1 24	$2M
Q2 24	$846.0K
Q3 24	$4M
Q4 24	$2M
Q1 25	$1M
Q2 25	$2M
Q3 25	$4M
Q4 25	$5M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+12.8%	+32.3%
Q3 22	+14.4%	+9.7%
Q4 22	+23.0%	+16.8%
Q1 23	+26.6%	+56.7%
Q2 23	+29.0%	+54.4%
Q3 23	+29.0%	+55.4%
Q4 23	-66.5%	+32.4%
Q1 24	+21.3%	+21.8%
Q2 24	+22.7%	+21.9%
Q3 24	+13.1%	+0.0%
Q4 24	+309.9%	+4.6%
Q1 25	+7.7%	+8.1%
Q2 25	-0.4%	-3.7%
Q3 25	-42.6%	+33.5%
Q4 25	+20.8%	+18.0%
Q1 26	+39.3%	+45.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$804.0K	1.6%
Q2 22	$744.0K	1.4%
Q3 22	$888.0K	1.6%
Q4 22	$889.0K	1.5%
Q1 23	$1M	1.9%
Q2 23	$568.0K	0.8%
Q3 23	$571.0K	0.8%
Q4 23	$862.0K	4.3%
Q1 24	$950.0K	1.2%
Q2 24	$913.0K	1.1%
Q3 24	$996.0K	1.2%
Q4 24	$1M	1.4%
Q1 25	$1M	1.7%
Q2 25	$1M	1.5%
Q3 25	$2M	3.3%
Q4 25	$1M	1.4%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$16M	$972.0K
Q3 22	$16M	$1M
Q4 22	$2M	$2M
Q1 23	$17M	$1M
Q2 23	$16M	$1M
Q3 23	$17M	$1M
Q4 23	$17M	$2M
Q1 24	$19M	$1M
Q2 24	$18M	$1M
Q3 24	$19M	$1M
Q4 24	$19M	$1M
Q1 25	$21M	$1M
Q2 25	$20M	$1M
Q3 25	$487.0K	$1M
Q4 25	$22M	$1M
Q1 26	$40M	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$103M	$1.3B	$1.4B
Q3 22	$155M	$1.2B	$1.4B
Q4 22	$104M	$1.2B	$1.3B
Q1 23	$250M	$1.2B	$1.4B
Q2 23	$263M	$1.1B	$1.4B
Q3 23	$183M	$1.1B	$1.2B
Q4 23	$363M	$920M	$1.3B
Q1 24	$218M	$1.1B	$1.3B
Q2 24	$244M	$1.0B	$1.3B
Q3 24	$218M	$1.0B	$1.3B
Q4 24	$384M	$803M	$1.2B
Q1 25	$431M	$752M	$1.2B
Q2 25	$366M	$973M	$1.3B
Q3 25	$699M	$904M	$1.6B
Q4 25	$608M	$1.0B	$1.6B
Q1 26	$564M	$1.1B	$1.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	16M	-3.3%	+11.2%
Q3 22	16M	-0.2%	+10.9%
Q4 22	16M	-0.4%	-5.5%
Q1 23	16M	-1.1%	-5.0%
Q2 23	16M	-3.0%	-4.7%
Q3 23	16M	-0.3%	-4.7%
Q4 23	15M	-0.6%	-4.9%
Q1 24	16M	+1.0%	-2.9%
Q2 24	15M	-1.2%	-1.1%
Q3 24	15M	+0.5%	-0.4%
Q4 24	16M	+5.2%	+5.5%
Q1 25	18M	+8.6%	+13.5%
Q2 25	18M	-0.1%	+14.8%
Q3 25	19M	+8.4%	+23.8%
Q4 25	19M	+0.4%	+18.1%
Q1 26	19M	0.0%	+8.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$74.1K	702
Q3 22	$80.8K	702
Q4 22	$82.7K	732
Q1 23	$88.3K	732
Q2 23	$91.7K	732
Q3 23	$100.0K	732
Q4 23	$28.3K	717
Q1 24	$109.3K	717
Q2 24	$114.8K	717
Q3 24	$115.4K	717
Q4 24	$102.6K	810
Q1 25	$104.2K	810
Q2 25	$101.2K	810
Q3 25	$58.7K	810
Q4 25	$110.4K	909
Q1 26	$129.3K	909

Revenue / Employee