GABC

MKT CAP:$2B

German American Bancorp, Inc.

Market Cap

$2B

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$43.49+$4.61 (+11.86%)

Apr 24, 2026

Company Details

German American Bancorp, Inc. operates as a bank holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insur...

CEO

Bradley Rust

IPO Date

May 21, 1993

Website

www.germanamerican.com

Key Metrics TTM

Revenue

$487M

+54.5% YoY

Net Income

$113M

EPS (Diluted)

$3.05

Free Cash Flow

$154M

Revenue / Share

$13.00

Gross Margin

70.2%

Operating Margin

28.7%

Net Margin

23.1%

FCF Margin

31.6%

P/S

3.4x

P/E

14.5x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Feb 26, 2026

$487M+54.5%EPS $3.06

Q4 2025

Feb 26, 2026

$127M+39.7%EPS $0.95

Q3 2025

Nov 5, 2025

$127M+43.0%EPS $0.94

Q2 2025

Aug 7, 2025

$123M+136.1%EPS $0.86

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$65M	$58M	$10M
Q2 22	$67M	$64M	$29M
Q3 22	$71M	$65M	$31M
Q4 22	$75M	$66M	$30M
Q1 23	$75M	$63M	$25M
Q2 23	$78M	$63M	$27M
Q3 23	$80M	$61M	$26M
Q4 23	$83M	$61M	$25M
Q1 24	$84M	$60M	$23M
Q2 24	$52M	$26M	$27M
Q3 24	$88M	$62M	$26M
Q4 24	$91M	$65M	$29M
Q1 25	$111M	$66M	$13M
Q2 25	$123M	$89M	$39M
Q3 25	$127M	$93M	$44M
Q4 25	$127M	$94M	$44M

Valuation

Quarter	P/S	P/E
Q1 22	4.8x	15.6x
Q2 22	4.2x	14.3x
Q3 22	4.1x	13.9x
Q4 22	3.9x	13.4x
Q1 23	3.5x	10.6x
Q2 23	2.7x	8.8x
Q3 23	2.6x	9.0x
Q4 23	3.0x	11.2x
Q1 24	3.1x	11.8x
Q2 24	3.4x	12.4x
Q3 24	3.7x	14.0x
Q4 24	3.8x	14.4x
Q1 25	3.3x	14.8x
Q2 25	3.2x	15.5x
Q3 25	3.1x	14.2x
Q4 25	3.0x	13.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$46M	$42M
Q2 22	$4M	$3M
Q3 22	$32M	$31M
Q4 22	$28M	$26M
Q1 23	$31M	$30M
Q2 23	$22M	$19M
Q3 23	$24M	$23M
Q4 23	$30M	$29M
Q1 24	$24M	$23M
Q2 24	$19M	$17M
Q3 24	$25M	$23M
Q4 24	$29M	$28M
Q1 25	$38M	$37M
Q2 25	$27M	$26M
Q3 25	$52M	$50M
Q4 25	$43M	$41M

Capital Expenditures

Quarter	CapEx
Q1 22	$4M
Q2 22	$1M
Q3 22	$1M
Q4 22	$2M
Q1 23	$2M
Q2 23	$3M
Q3 23	$1M
Q4 23	$248.0K
Q1 24	$1M
Q2 24	$2M
Q3 24	$1M
Q4 24	$656.0K
Q1 25	$1M
Q2 25	$751.0K
Q3 25	$2M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+15.7%	+72.3%
Q2 22	+20.0%	+46.2%
Q3 22	+19.4%	+21.9%
Q4 22	+28.6%	+25.5%
Q1 23	+15.3%	-9.9%
Q2 23	+16.3%	+33.3%
Q3 23	+13.9%	+36.4%
Q4 23	+10.8%	+28.1%
Q1 24	+11.4%	+21.3%
Q2 24	-33.5%	-50.4%
Q3 24	+10.0%	+15.5%
Q4 24	+9.8%	+8.5%
Q1 25	+32.1%	+60.5%
Q2 25	+136.1%	+228.3%
Q3 25	+43.0%	+31.8%
Q4 25	+39.7%	+33.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$424.0K	0.6%
Q2 22	$1M	1.6%
Q3 22	$398.0K	0.6%
Q4 22	$415.0K	0.6%
Q1 23	$539.0K	0.7%
Q2 23	$830.0K	1.1%
Q3 23	$497.0K	0.6%
Q4 23	$466.0K	0.6%
Q1 24	$524.0K	0.6%
Q2 24	$914.0K	1.8%
Q3 24	$828.0K	0.9%
Q4 24	$681.0K	0.8%
Q1 25	$481.0K	0.4%
Q2 25	$799.0K	0.6%
Q3 25	$787.0K	0.6%
Q4 25	$807.0K	0.6%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$24M	$1M
Q2 22	$21M	$1M
Q3 22	$20M	$1M
Q4 22	$21M	$1M
Q1 23	$23M	$1M
Q2 23	$21M	$1M
Q3 23	$21M	$1M
Q4 23	$22M	$1M
Q1 24	$22M	$1M
Q2 24	$22M	$909.0K
Q3 24	$20M	$941.0K
Q4 24	$21M	$951.0K
Q1 25	$29M	$1M
Q2 25	$2M	$1M
Q3 25	$27M	$1M
Q4 25	$33M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$61M	$1.9B	$2.0B
Q2 22	$113M	$1.8B	$1.9B
Q3 22	$71M	$1.7B	$1.8B
Q4 22	$76M	$1.8B	$1.8B
Q1 23	$71M	$1.7B	$1.7B
Q2 23	$78M	$1.6B	$1.7B
Q3 23	$73M	$1.5B	$1.5B
Q4 23	$79M	$1.6B	$1.7B
Q1 24	$53M	$1.5B	$1.6B
Q2 24	$71M	$1.4B	$1.4B
Q3 24	$78M	$1.5B	$1.6B
Q4 24	$70M	$1.1B	$1.1B
Q1 25	$80M	$1.1B	$1.2B
Q2 25	$100M	$1.1B	$1.2B
Q3 25	$113M	$1.1B	$1.2B
Q4 25	$72M	$1.2B	$1.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	29M	+10.8%	+10.9%
Q2 22	29M	+0.3%	+11.1%
Q3 22	29M	0.0%	+11.1%
Q4 22	29M	+0.0%	+11.1%
Q1 23	30M	+0.1%	+0.4%
Q2 23	30M	+0.2%	+0.3%
Q3 23	30M	0.0%	+0.3%
Q4 23	30M	+0.0%	+0.3%
Q1 24	30M	+0.1%	+0.3%
Q2 24	30M	+0.2%	+0.3%
Q3 24	30M	+0.0%	+0.4%
Q4 24	30M	-0.0%	+0.3%
Q1 25	35M	+16.9%	+17.2%
Q2 25	36M	+4.1%	+21.6%
Q3 25	37M	+1.3%	+23.2%
Q4 25	37M	+2.6%	+26.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$73.2K	894
Q2 22	$75.4K	894
Q3 22	$79.0K	894
Q4 22	$86.1K	866
Q1 23	$87.1K	866
Q2 23	$90.5K	866
Q3 23	$92.9K	866
Q4 23	$98.3K	840
Q1 24	$100.1K	840
Q2 24	$62.1K	840
Q3 24	$105.3K	840
Q4 24	$88.9K	1K
Q1 25	$108.9K	1K
Q2 25	$120.8K	1K
Q3 25	$124.0K	1K
Q4 25	$128.7K	984

Revenue / Employee