NWBI

MKT CAP:$2B

Northwest Bancshares, Inc.

Market Cap

$2B

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$13.28+$1.30 (+10.85%)

Apr 24, 2026

Company Details

Northwest Bancshares, Inc. operates as the holding company for Northwest Bank, a state-chartered savings bank that provides personal and business banking solutions. The company accepts various deposits, including checking, savings, money ma...

CEO

Louis J. Torchio

IPO Date

Nov 7, 1994

Website

www.northwest.bank

Key Metrics TTM

Revenue

$877M

+16.3% YoY

Net Income

$126M

EPS (Diluted)

$0.93

Free Cash Flow

$142M

Revenue / Share

$5.98

Gross Margin

68.3%

Operating Margin

18.8%

Net Margin

14.4%

FCF Margin

16.2%

P/S

2.2x

P/E

15.4x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Feb 25, 2026

$877M+16.3%EPS $0.92

Q4 2025

Feb 25, 2026

$241M+14.6%EPS $0.31

Q3 2025

Nov 10, 2025

$226M+13.8%EPS $0.02

Q2 2025

Aug 5, 2025

$202M+28.0%EPS $0.26

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$122M	$116M	$36M
Q2 22	$136M	$124M	$43M
Q3 22	$145M	$128M	$49M
Q4 22	$155M	$135M	$45M
Q1 23	$159M	$131M	$44M
Q2 23	$173M	$129M	$44M
Q3 23	$182M	$138M	$51M
Q4 23	$186M	$127M	$37M
Q1 24	$188M	$128M	$38M
Q2 24	$158M	$98M	$6M
Q3 24	$199M	$134M	$44M
Q4 24	$210M	$137M	$42M
Q1 25	$209M	$148M	$57M
Q2 25	$202M	$141M	$44M
Q3 25	$226M	$136M	$3M
Q4 25	$241M	$174M	$61M

Valuation

Quarter	P/S	P/E
Q1 22	3.4x	12.2x
Q2 22	3.2x	13.0x
Q3 22	3.3x	13.5x
Q4 22	3.2x	13.2x
Q1 23	2.5x	10.8x
Q2 23	2.2x	9.8x
Q3 23	1.9x	9.2x
Q4 23	2.3x	11.8x
Q1 24	2.0x	11.1x
Q2 24	2.0x	14.3x
Q3 24	2.3x	17.6x
Q4 24	2.2x	16.7x
Q1 25	2.0x	13.3x
Q2 25	2.0x	11.4x
Q3 25	1.9x	14.1x
Q4 25	2.0x	13.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$22M	-$22M
Q2 22	$49M	$49M
Q3 22	$83M	$81M
Q4 22	$65M	$62M
Q1 23	$30M	$30M
Q2 23	$23M	$20M
Q3 23	-$5M	-$5M
Q4 23	$45M	$38M
Q1 24	$71M	$65M
Q2 24	$41M	$44M
Q3 24	$93M	$93M
Q4 24	-$77M	-$77M
Q1 25	$108M	$106M
Q2 25	-$2M	-$6M
Q3 25	$42M	$38M
Q4 25	$6M	$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$2M
Q4 22	$4M
Q1 23	$0
Q2 23	$3M
Q3 23	$287.0K
Q4 23	$7M
Q1 24	$5M
Q2 24	$3M
Q3 24	$88.0K
Q4 24	$232.0K
Q1 25	$2M
Q2 25	$4M
Q3 25	$4M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-12.7%	-2.0%
Q2 22	+3.3%	+37.2%
Q3 22	+8.5%	+9.0%
Q4 22	+19.9%	+22.1%
Q1 23	+30.3%	+33.6%
Q2 23	+27.5%	+40.1%
Q3 23	+25.4%	+37.0%
Q4 23	+20.0%	+35.9%
Q1 24	+18.5%	+31.1%
Q2 24	-9.1%	+16.8%
Q3 24	+9.2%	+18.2%
Q4 24	+12.7%	+12.1%
Q1 25	+11.0%	+1.3%
Q2 25	+28.0%	+3.9%
Q3 25	+13.8%	+43.4%
Q4 25	+14.6%	+7.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$699.0K	0.6%
Q2 22	$1M	1.0%
Q3 22	$943.0K	0.6%
Q4 22	$1M	0.6%
Q1 23	$744.0K	0.5%
Q2 23	$1M	0.8%
Q3 23	$1M	0.7%
Q4 23	$1M	0.7%
Q1 24	$1M	0.7%
Q2 24	$1M	0.9%
Q3 24	$2M	0.8%
Q4 24	$2M	0.8%
Q1 25	$2M	0.8%
Q2 25	$2M	1.0%
Q3 25	$885.0K	0.4%
Q4 25	$2M	0.7%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$48M	$2M
Q2 22	$49M	$2M
Q3 22	$48M	$2M
Q4 22	$52M	$3M
Q1 23	$49M	$3M
Q2 23	$50M	$3M
Q3 23	$54M	$2M
Q4 23	$53M	$1M
Q1 24	$55M	$2M
Q2 24	$56M	$2M
Q3 24	$59M	$2M
Q4 24	$56M	$2M
Q1 25	$57M	$2M
Q2 25	$58M	$3M
Q3 25	$66M	$2M
Q4 25	$73M	$2M

Revenue Segments

Quarter	Banking Segment
Q1 25	$209M
Q2 25	$203M
Q3 25	$227M
Q4 25	$241M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.2B	$1.4B	$2.6B
Q2 22	$505M	$1.4B	$1.9B
Q3 22	$119M	$1.3B	$1.4B
Q4 22	$139M	$1.2B	$1.4B
Q1 23	$96M	$1.2B	$1.3B
Q2 23	$128M	$1.1B	$1.2B
Q3 23	$162M	$1.0B	$1.2B
Q4 23	$122M	$1.0B	$1.2B
Q1 24	$119M	$1.1B	$1.2B
Q2 24	$228M	$1.0B	$1.3B
Q3 24	$227M	$1.1B	$1.3B
Q4 24	$288M	$1.1B	$1.4B
Q1 25	$353M	$1.2B	$1.5B
Q2 25	$267M	$1.2B	$1.5B
Q3 25	$279M	$23M	$302M
Q4 25	$234M	$1.6B	$1.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	129M	+2.7%	+1.5%
Q2 22	129M	-0.0%	+0.7%
Q3 22	129M	+0.1%	-0.9%
Q4 22	128M	-0.2%	+2.5%
Q1 23	130M	+0.9%	+0.7%
Q2 23	127M	-2.0%	-1.3%
Q3 23	127M	+0.1%	-1.2%
Q4 23	127M	+0.0%	-1.0%
Q1 24	128M	+0.4%	-1.5%
Q2 24	119M	-7.0%	-6.5%
Q3 24	129M	+9.0%	+1.7%
Q4 24	126M	-2.6%	-0.9%
Q1 25	128M	+1.9%	+0.5%
Q2 25	128M	-0.1%	+8.0%
Q3 25	141M	+10.2%	+9.2%
Q4 25	147M	+3.9%	+16.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$54.0K	2K
Q2 22	$60.4K	2K
Q3 22	$64.5K	2K
Q4 22	$74.3K	2K
Q1 23	$75.9K	2K
Q2 23	$83.0K	2K
Q3 23	$87.1K	2K
Q4 23	$91.7K	2K
Q1 24	$92.5K	2K
Q2 24	$77.6K	2K
Q3 24	$97.9K	2K
Q4 24	$111.4K	2K
Q1 25	$110.7K	2K
Q2 25	$107.0K	2K
Q3 25	$120.0K	2K
Q4 25	$114.4K	2K

Revenue / Employee