JMSB

MKT CAP:$298M

John Marshall Bancorp, Inc.

Market Cap

$298M

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$21.24+$1.52 (+7.71%)

Apr 22, 2026

Company Details

John Marshall Bancorp, Inc. operates as the bank holding company for John Marshall Bank that provides banking products and financial services. The company accepts checking, demand, NOW, savings, and money market accounts, as well as certifi...

CEO

Christopher W. Bergstrom

IPO Date

Mar 2, 2017

Website

www.johnmarshallbank.com

Key Metrics TTM

Revenue

$115M

+2.6% YoY

Net Income

$21M

EPS (Diluted)

$1.50

Free Cash Flow

$22M

Revenue / Share

$8.16

Gross Margin

52.8%

Operating Margin

23.7%

Net Margin

18.4%

FCF Margin

19.1%

P/S

2.6x

P/E

14.0x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Mar 13, 2026

$115M+2.6%EPS $1.49

Q4 2025

Mar 13, 2026

$30M+4.6%EPS $0.42

Q3 2025

Nov 14, 2025

$30M+1.9%EPS $0.38

Q2 2025

Aug 12, 2025

$28M+3.7%EPS $0.36

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$20M	$18M	$10M
Q2 22	$20M	$17M	$10M
Q3 22	$22M	$18M	$10M
Q4 22	$24M	$18M	$11M
Q1 23	$24M	$16M	$8M
Q2 23	$25M	$14M	$6M
Q3 23	$9M	-$4M	-$12M
Q4 23	$27M	$13M	$6M
Q1 24	$28M	$13M	$5M
Q2 24	$27M	$13M	$5M
Q3 24	$29M	$13M	$5M
Q4 24	$28M	$14M	$6M
Q1 25	$28M	$14M	$6M
Q2 25	$28M	$15M	$7M
Q3 25	$30M	$16M	$7M
Q4 25	$30M	$16M	$8M

Valuation

Quarter	P/S	P/E
Q1 22	3.9x	10.6x
Q2 22	3.8x	10.0x
Q3 22	3.7x	9.6x
Q4 22	3.5x	9.4x
Q1 23	3.3x	9.8x
Q2 23	3.1x	11.0x
Q3 23	3.6x	33.6x
Q4 23	3.5x	57.8x
Q1 24	3.3x	97.4x
Q2 24	3.2x	120.4x
Q3 24	2.7x	17.7x
Q4 24	2.7x	17.4x
Q1 25	2.6x	16.8x
Q2 25	2.6x	15.7x
Q3 25	2.6x	14.8x
Q4 25	2.6x	14.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$10M	$10M
Q2 22	$7M	$7M
Q3 22	$9M	$9M
Q4 22	$8M	$8M
Q1 23	$6M	$6M
Q2 23	$4M	$4M
Q3 23	$2M	$2M
Q4 23	$5M	$5M
Q1 24	$175.0K	$100.0K
Q2 24	$10M	$10M
Q3 24	$1M	$1M
Q4 24	$5M	$5M
Q1 25	$7M	$7M
Q2 25	$8M	$7M
Q3 25	$1M	$1M
Q4 25	$7M	$7M

Capital Expenditures

Quarter	CapEx
Q1 22	$66.0K
Q2 22	$55.0K
Q3 22	$21.0K
Q4 22	$14.0K
Q1 23	$400.0K
Q2 23	$58.0K
Q3 23	$17.0K
Q4 23	$137.0K
Q1 24	$75.0K
Q2 24	$50.0K
Q3 24	$106.0K
Q4 24	$252.0K
Q1 25	$342.0K
Q2 25	$161.0K
Q3 25	$33.0K
Q4 25	$18.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+4.9%	-16.6%
Q2 22	+3.3%	-12.1%
Q3 22	+17.9%	+16.8%
Q4 22	+26.3%	+40.4%
Q1 23	+19.1%	+50.5%
Q2 23	+27.8%	+95.5%
Q3 23	-56.4%	+84.0%
Q4 23	+12.1%	+56.1%
Q1 24	+15.5%	+39.7%
Q2 24	+8.8%	+15.0%
Q3 24	+207.4%	+12.3%
Q4 24	+3.9%	+3.9%
Q1 25	+0.3%	-3.1%
Q2 25	+3.7%	-2.5%
Q3 25	+1.9%	-4.1%
Q4 25	+4.6%	-1.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$139.0K	0.7%
Q2 22	$130.0K	0.7%
Q3 22	$133.0K	0.6%
Q4 22	$171.0K	0.7%
Q1 23	$197.0K	0.8%
Q2 23	$137.0K	0.5%
Q3 23	$130.0K	1.4%
Q4 23	$132.0K	0.5%
Q1 24	$132.0K	0.5%
Q2 24	$133.0K	0.5%
Q3 24	$132.0K	0.5%
Q4 24	$158.0K	0.6%
Q1 25	$118.0K	0.4%
Q2 25	$120.0K	0.4%
Q3 25	$120.0K	—
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$6M	$39.0K
Q2 22	$5M	$61.0K
Q3 22	$5M	$47.0K
Q4 22	$5M	$46.0K
Q1 23	$5M	$77.0K
Q2 23	$5M	$76.0K
Q3 23	$6M	$87.0K
Q4 23	$5M	$49.0K
Q1 24	$5M	$97.0K
Q2 24	$5M	$97.0K
Q3 24	$5M	$96.0K
Q4 24	$5M	$96.0K
Q1 25	$6M	$162.0K
Q2 25	$6M	—
Q3 25	$6M	$154.0K
Q4 25	$5M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$182M	$298M	$480M
Q2 22	$121M	$365M	$486M
Q3 22	$75M	$367M	$441M
Q4 22	$62M	$358M	$419M
Q1 23	$103M	$340M	$444M
Q2 23	$130M	$325M	$455M
Q3 23	$193M	$169M	$362M
Q4 23	$99M	$170M	$269M
Q1 24	$153M	$159M	$312M
Q2 24	$183M	$148M	$330M
Q3 24	$177M	$145M	$322M
Q4 24	$122M	$21M	$143M
Q1 25	$169M	$75M	$244M
Q2 25	$117M	$74M	$191M
Q3 25	$9M	$66M	$75M
Q4 25	$130M	$17M	$147M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	14M	+0.8%	+1.3%
Q2 22	14M	+0.7%	+1.6%
Q3 22	14M	+0.2%	+1.6%
Q4 22	14M	+0.2%	+1.8%
Q1 23	14M	+0.2%	+1.2%
Q2 23	14M	-0.1%	+0.4%
Q3 23	14M	-0.4%	-0.2%
Q4 23	14M	+0.5%	+0.1%
Q1 24	14M	+0.3%	+0.2%
Q2 24	14M	+0.1%	+0.4%
Q3 24	14M	+0.1%	+1.0%
Q4 24	14M	+0.1%	+0.6%
Q1 25	14M	+0.1%	+0.4%
Q2 25	14M	-0.1%	+0.2%
Q3 25	14M	0.0%	+0.1%
Q4 25	14M	-0.6%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$174.6K	139
Q1 23	$172.8K	139
Q2 23	$180.9K	139
Q3 23	$68.0K	139
Q4 23	$204.7K	133
Q1 24	$208.5K	133
Q2 24	$205.6K	133
Q3 24	$218.4K	133
Q4 24	$217.5K	130
Q1 25	$213.9K	130
Q2 25	$218.1K	130
Q3 25	$227.7K	130
Q4 25	$214.3K	138

Revenue / Employee