LSBK

MKT CAP:$125M

Lake Shore Bancorp, Inc.

Market Cap

$125M

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$15.85+$1.16 (+7.90%)

Apr 23, 2026

Company Details

Lake Shore Bancorp, Inc. operates as the savings and loan holding company for Lake Shore Savings Bank that provides banking products and services. It accepts various deposit products, such as regular savings deposits, including Christmas Cl...

CEO

Kim C. Liddell

IPO Date

Apr 5, 2006

Website

lakeshoresavings.com

Key Metrics TTM

Revenue

$40M

+6.2% YoY

Net Income

$8M

EPS (Diluted)

$1.08

Free Cash Flow

$7M

Revenue / Share

$5.44

Gross Margin

73.1%

Operating Margin

24.5%

Net Margin

20.2%

FCF Margin

18.5%

P/S

3.1x

P/E

15.4x

Earnings Reports

Q1 2026

Mar 30, 2026

$10M+7.3%EPS $0.26

FY 2025

Jan 21, 2026

$40M+3.8%EPS $0.96

Q4 2025

Jan 21, 2026

$10M+5.0%EPS $0.26

Q3 2025

Sep 29, 2025

$10M+8.0%EPS $0.31

Q2 2025

Jun 29, 2025

$10M+4.4%EPS $0.25

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$7M	$7M	$2M
Q3 22	$8M	$7M	$2M
Q4 22	$8M	$7M	$1M
Q1 23	$9M	$7M	$2M
Q2 23	$9M	$7M	$1M
Q3 23	$9M	$7M	$2M
Q4 23	$10M	$7M	$1M
Q1 24	$9M	$6M	$1M
Q2 24	$9M	$6M	$1M
Q3 24	$10M	$6M	$2M
Q4 24	$10M	$7M	$2M
Q1 25	$9M	$6M	$1M
Q2 25	$10M	$7M	$2M
Q3 25	$10M	$8M	$3M
Q4 25	$10M	$7M	$2M
Q1 26	$10M	$7M	$2M

Valuation

Quarter	P/S	P/E
Q2 22	3.0x	13.2x
Q3 22	2.7x	12.2x
Q4 22	2.6x	13.3x
Q1 23	1.8x	9.1x
Q2 23	2.0x	11.9x
Q3 23	1.7x	11.0x
Q4 23	2.0x	14.8x
Q1 24	1.9x	16.8x
Q2 24	1.8x	15.0x
Q3 24	2.0x	18.4x
Q4 24	2.0x	15.6x
Q1 25	2.4x	18.0x
Q2 25	2.3x	15.5x
Q3 25	2.6x	14.7x
Q4 25	2.9x	15.7x
Q1 26	2.7x	13.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$1M	$1M
Q2 22	$3M	$3M
Q3 22	$2M	$2M
Q4 22	$2M	$2M
Q1 23	$1M	$1M
Q2 23	$2M	$2M
Q3 23	$1M	$1M
Q4 23	$2M	$2M
Q1 24	-$32.0K	-$37.0K
Q2 24	$574.0K	$573.0K
Q3 24	-$1M	-$1M
Q4 24	$3M	$3M
Q1 25	$718.0K	$568.0K
Q2 25	$2M	$1M
Q3 25	$3M	$3M
Q4 25	$2M	$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$137.0K
Q2 22	$55.0K
Q3 22	$106.0K
Q4 22	$108.0K
Q1 23	$146.0K
Q2 23	$177.0K
Q3 23	$41.0K
Q4 23	$27.0K
Q1 24	$5.0K
Q2 24	$1.0K
Q3 24	$0
Q4 24	$6.0K
Q1 25	$150.0K
Q2 25	$386.0K
Q3 25	$41.0K
Q4 25	$17.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+4.4%	-8.9%
Q3 22	+5.8%	+6.3%
Q4 22	+16.0%	+40.0%
Q1 23	+27.6%	+21.4%
Q2 23	+26.2%	+55.4%
Q3 23	+22.9%	+36.4%
Q4 23	+18.4%	+24.3%
Q1 24	+9.5%	+23.9%
Q2 24	+5.2%	+2.4%
Q3 24	+3.4%	+8.5%
Q4 24	+1.3%	-3.8%
Q1 25	-2.4%	-3.6%
Q2 25	+4.4%	-6.7%
Q3 25	+8.0%	-6.0%
Q4 25	+5.0%	-1.5%
Q1 26	+7.3%	-5.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$72.0K	1.1%
Q2 22	$102.0K	1.4%
Q3 22	$85.0K	1.1%
Q4 22	$76.0K	0.9%
Q1 23	-$27.0K	-0.3%
Q2 23	$53.0K	0.6%
Q3 23	$62.0K	0.7%
Q4 23	$15.0K	0.2%
Q1 24	$38.0K	0.4%
Q2 24	$88.0K	0.9%
Q3 24	$109.0K	1.1%
Q4 24	$110.0K	1.1%
Q1 25	$120.0K	1.3%
Q2 25	$106.0K	1.1%
Q3 25	$161.0K	1.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$3M	$123.0K
Q3 22	$3M	$197.0K
Q4 22	$3M	$258.0K
Q1 23	$3M	$178.0K
Q2 23	$3M	$179.0K
Q3 23	$3M	$157.0K
Q4 23	$3M	$64.0K
Q1 24	$3M	$51.0K
Q2 24	$3M	$16.0K
Q3 24	$3M	$11.0K
Q4 24	$3M	$15.0K
Q1 25	$3M	$11.0K
Q2 25	$3M	$15.0K
Q3 25	$3M	$18.0K
Q4 25	$3M	$14.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$31M	$85M	$115M
Q2 22	$27M	$78M	$105M
Q3 22	$20M	$71M	$91M
Q4 22	$10M	$73M	$83M
Q1 23	$39M	$74M	$112M
Q2 23	$36M	$65M	$101M
Q3 23	$46M	$58M	$104M
Q4 23	$54M	$60M	$114M
Q1 24	$55M	$59M	$114M
Q2 24	$61M	$57M	$118M
Q3 24	$50M	$59M	$109M
Q4 24	$33M	$56M	$90M
Q1 25	$30M	$52M	$82M
Q2 25	$75M	$48M	$123M
Q3 25	$84M	$48M	$131M
Q4 25	$64M	$53M	$117M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	8M	+1.2%	-0.3%
Q3 22	8M	-0.3%	+0.1%
Q4 22	8M	-3.1%	+0.2%
Q1 23	8M	+3.1%	+0.8%
Q2 23	8M	-0.6%	-1.0%
Q3 23	8M	+0.0%	-0.7%
Q4 23	8M	-2.7%	-0.3%
Q1 24	8M	+2.8%	-0.6%
Q2 24	8M	+0.7%	+0.7%
Q3 24	8M	-4.2%	-3.5%
Q4 24	8M	+1.7%	+0.9%
Q1 25	8M	-1.5%	-3.3%
Q2 25	8M	-0.1%	-4.1%
Q3 25	8M	0.0%	+0.1%
Q4 25	7M	-2.8%	-4.3%
Q1 26	7M	-0.6%	-3.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$68.8K	104
Q3 22	$72.9K	104
Q4 22	$71.3K	113
Q1 23	$75.3K	113
Q2 23	$79.8K	113
Q3 23	$82.5K	113
Q4 23	$82.9K	115
Q1 24	$81.0K	115
Q2 24	$82.5K	115
Q3 24	$83.8K	115
Q4 24	$103.8K	93
Q1 25	$97.8K	93
Q2 25	$106.5K	93
Q3 25	$112.0K	93
Q4 25	$109.0K	93
Q1 26	$104.9K	93

Revenue / Employee