NWFL

MKT CAP:$284M

Norwood Financial Corp.

Market Cap

$284M

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$30.37+$2.37 (+8.46%)

Apr 22, 2026

Company Details

Norwood Financial Corp. operates as the bank holding company for Wayne Bank that provides various banking products and services. The company accepts a range of deposit products, including interest-bearing and non-interest bearing transactio...

CEO

James O. Donnelly

IPO Date

Mar 4, 1998

Website

wayne.bank

Key Metrics TTM

Revenue

$136M

+34.2% YoY

Net Income

$28M

EPS (Diluted)

$3.02

Free Cash Flow

$30M

Revenue / Share

$14.86

Gross Margin

63.6%

Operating Margin

26.1%

Net Margin

20.4%

FCF Margin

22.3%

P/S

2.1x

P/E

10.2x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Mar 13, 2026

$136M+34.2%EPS $3.03

Q4 2025

Mar 13, 2026

$36M+200.7%EPS $0.81

Q3 2025

Nov 7, 2025

$35M+12.7%EPS $0.90

Q2 2025

Aug 8, 2025

$33M+12.0%EPS $0.68

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$21M	$19M	$9M
Q2 22	$21M	$19M	$9M
Q3 22	$22M	$20M	$10M
Q4 22	$22M	$19M	$9M
Q1 23	$24M	$18M	$7M
Q2 23	$25M	$19M	$8M
Q3 23	$27M	$16M	$5M
Q4 23	$28M	$11M	$452.0K
Q1 24	$29M	$17M	$6M
Q2 24	$30M	$17M	$5M
Q3 24	$31M	$17M	$5M
Q4 24	$12M	-$3M	-$16M
Q1 25	$32M	$19M	$7M
Q2 25	$33M	$20M	$8M
Q3 25	$35M	$23M	$11M
Q4 25	$36M	$23M	$10M

Valuation

Quarter	P/S	P/E
Q1 22	3.5x	10.7x
Q2 22	3.5x	10.3x
Q3 22	3.4x	9.9x
Q4 22	3.3x	9.7x
Q1 23	3.2x	10.2x
Q2 23	3.1x	10.3x
Q3 23	2.9x	12.1x
Q4 23	2.7x	16.9x
Q1 24	2.6x	18.4x
Q2 24	2.5x	21.6x
Q3 24	2.4x	22.1x
Q4 24	2.8x	—
Q1 25	2.7x	240.8x
Q2 25	2.6x	89.5x
Q3 25	2.5x	37.1x
Q4 25	2.1x	10.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$9M	$9M
Q2 22	$6M	$6M
Q3 22	$9M	$8M
Q4 22	$6M	$5M
Q1 23	$10M	$10M
Q2 23	$6M	$6M
Q3 23	$7M	$7M
Q4 23	$7M	$6M
Q1 24	$4M	$4M
Q2 24	$9M	$9M
Q3 24	$5M	$4M
Q4 24	$5M	$3M
Q1 25	$9M	$8M
Q2 25	$7M	$5M
Q3 25	$9M	$12M
Q4 25	$9M	$5M

Capital Expenditures

Quarter	CapEx
Q1 22	$105.0K
Q2 22	$432.0K
Q3 22	$758.0K
Q4 22	$858.0K
Q1 23	$91.0K
Q2 23	$177.0K
Q3 23	$228.0K
Q4 23	$916.0K
Q1 24	$554.0K
Q2 24	$533.0K
Q3 24	$573.0K
Q4 24	$1M
Q1 25	$932.0K
Q2 25	$2M
Q3 25	$3M
Q4 25	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+7.2%	-6.2%
Q2 22	+4.5%	-3.9%
Q3 22	+7.1%	+0.2%
Q4 22	+12.3%	+15.9%
Q1 23	+14.2%	+39.7%
Q2 23	+21.6%	+40.2%
Q3 23	+21.8%	+83.3%
Q4 23	+26.4%	+102.0%
Q1 24	+22.5%	+42.7%
Q2 24	+19.4%	+46.2%
Q3 24	+14.8%	+19.9%
Q4 24	-58.1%	+0.5%
Q1 25	+12.1%	+7.8%
Q2 25	+12.0%	+4.4%
Q3 25	+12.7%	-6.8%
Q4 25	+200.7%	-7.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$149.0K	0.7%
Q2 22	$156.0K	0.8%
Q3 22	$168.0K	0.8%
Q4 22	$168.0K	0.8%
Q1 23	$210.0K	0.9%
Q2 23	$205.0K	0.8%
Q3 23	$198.0K	0.7%
Q4 23	$217.0K	0.8%
Q1 24	$193.0K	0.7%
Q2 24	$189.0K	0.6%
Q3 24	$159.0K	0.5%
Q4 24	$180.0K	1.5%
Q1 25	$179.0K	0.6%
Q2 25	$178.0K	0.5%
Q3 25	$179.0K	0.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$6M	—
Q2 22	$6M	—
Q3 22	$6M	—
Q4 22	$3M	$516.0K
Q1 23	$6M	—
Q2 23	$6M	—
Q3 23	$6M	—
Q4 23	$7M	—
Q1 24	$6M	—
Q2 24	$6M	—
Q3 24	$7M	—
Q4 24	$7M	$930.0K
Q1 25	$7M	—
Q2 25	$6M	—
Q3 25	$7M	—
Q4 25	$11M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$166M	$435M	$601M
Q2 22	$110M	$441M	$551M
Q3 22	$41M	$427M	$468M
Q4 22	$32M	$419M	$451M
Q1 23	$29M	$418M	$447M
Q2 23	$33M	$404M	$437M
Q3 23	$54M	$380M	$435M
Q4 23	$66M	$406M	$472M
Q1 24	$112M	$398M	$510M
Q2 24	$69M	$398M	$467M
Q3 24	$83M	$397M	$480M
Q4 24	$72M	$398M	$470M
Q1 25	$75M	$304M	$379M
Q2 25	$53M	$298M	$351M
Q3 25	$75M	$141M	$216M
Q4 25	$32M	$409M	$441M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	8M	+0.0%	-0.2%
Q2 22	8M	-0.3%	-0.5%
Q3 22	8M	+0.2%	-0.2%
Q4 22	8M	-0.9%	-1.0%
Q1 23	8M	+0.4%	-0.6%
Q2 23	8M	-0.9%	-1.1%
Q3 23	8M	-0.5%	-1.9%
Q4 23	9M	+10.5%	+9.4%
Q1 24	8M	-9.2%	-1.1%
Q2 24	8M	0.0%	-0.2%
Q3 24	8M	-0.1%	+0.2%
Q4 24	8M	+2.0%	-7.4%
Q1 25	9M	+11.5%	+13.7%
Q2 25	9M	0.0%	+13.7%
Q3 25	9M	0.0%	+13.8%
Q4 25	9M	0.0%	+11.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$78.7K	263
Q2 22	$78.3K	263
Q3 22	$83.7K	263
Q4 22	$81.5K	274
Q1 23	$86.2K	274
Q2 23	$91.3K	274
Q3 23	$97.9K	274
Q4 23	$108.1K	261
Q1 24	$110.9K	261
Q2 24	$114.5K	261
Q3 24	$117.9K	261
Q4 24	$44.8K	264
Q1 25	$122.9K	264
Q2 25	$126.7K	264
Q3 25	$131.4K	264
Q4 25	$129.3K	275

Revenue / Employee