RBKB

MKT CAP:$178M

Rhinebeck Bancorp, Inc.

Market Cap

$178M

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$16.49+$4.51 (+37.65%)

Apr 24, 2026

Company Details

Rhinebeck Bancorp, Inc. operates as the bank holding company for Rhinebeck Bank that provides banking and financial products and services to consumer and commercial customers in the Hudson Valley region of New York. The company offers depos...

CEO

Matthew J. Smith

IPO Date

Jan 17, 2019

Website

www.rhinebeckbank.com

Key Metrics TTM

Revenue

$74M

+33.5% YoY

Net Income

$10M

EPS (Diluted)

$0.91

Free Cash Flow

$11M

Revenue / Share

$6.74

Gross Margin

53.0%

Operating Margin

13.2%

Net Margin

13.5%

FCF Margin

15.3%

P/S

2.4x

P/E

17.9x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$17M-9.7%EPS $0.20

FY 2025

Mar 13, 2026

$76M+39.8%EPS $0.92

Q4 2025

Mar 13, 2026

$19M+40.6%EPS $0.21

Q3 2025

Nov 13, 2025

$20M+227.7%EPS $0.25

Q2 2025

Aug 12, 2025

$18M+6.2%EPS $0.25

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$13M	$12M	$3M
Q3 22	$14M	$12M	$3M
Q4 22	$15M	$11M	$1M
Q1 23	$16M	$10M	$1M
Q2 23	$16M	$11M	$2M
Q3 23	$17M	$10M	$2M
Q4 23	$17M	$10M	$1M
Q1 24	$17M	$10M	$1M
Q2 24	$17M	$10M	$1M
Q3 24	$6M	-$1M	-$10M
Q4 24	$14M	$7M	-$3M
Q1 25	$18M	$12M	$3M
Q2 25	$18M	$13M	$3M
Q3 25	$20M	$13M	$3M
Q4 25	$19M	$13M	$3M
Q1 26	$17M	$0	$0

Valuation

Quarter	P/S	P/E
Q2 22	2.0x	10.4x
Q3 22	2.0x	11.6x
Q4 22	1.8x	14.3x
Q1 23	1.4x	14.2x
Q2 23	1.2x	14.5x
Q3 23	1.2x	17.3x
Q4 23	1.3x	20.3x
Q1 24	1.3x	18.8x
Q2 24	1.2x	19.9x
Q3 24	1.7x	—
Q4 24	1.9x	—
Q1 25	1.9x	—
Q2 25	2.2x	—
Q3 25	1.8x	24.4x
Q4 25	1.8x	13.4x
Q1 26	2.2x	16.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$8M	$7M
Q2 22	$3M	$3M
Q3 22	$6M	$6M
Q4 22	-$1M	-$1M
Q1 23	$3M	$3M
Q2 23	$1M	$1M
Q3 23	$2M	$2M
Q4 23	$160.0K	-$80.0K
Q1 24	-$4M	-$4M
Q2 24	$12M	$12M
Q3 24	-$4M	-$4M
Q4 24	$4M	$3M
Q1 25	$4M	$4M
Q2 25	$2M	$2M
Q3 25	$2M	$3M
Q4 25	$3M	$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$579.0K
Q2 22	$80.0K
Q3 22	$183.0K
Q4 22	$290.0K
Q1 23	$63.0K
Q2 23	$141.0K
Q3 23	$134.0K
Q4 23	$240.0K
Q1 24	$244.0K
Q2 24	$129.0K
Q3 24	$49.0K
Q4 24	$369.0K
Q1 25	$116.0K
Q2 25	$182.0K
Q3 25	$298.0K
Q4 25	$414.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+9.5%	+21.1%
Q3 22	+9.8%	+22.4%
Q4 22	+12.4%	+50.7%
Q1 23	+25.8%	+46.7%
Q2 23	+22.9%	+35.1%
Q3 23	+23.2%	+38.8%
Q4 23	+15.8%	+16.9%
Q1 24	+7.5%	+5.2%
Q2 24	+6.2%	+10.9%
Q3 24	-65.0%	+4.6%
Q4 24	-18.7%	+8.6%
Q1 25	+7.2%	-1.6%
Q2 25	+6.2%	-7.3%
Q3 25	+227.7%	+0.3%
Q4 25	+40.6%	-3.8%
Q1 26	-9.7%	+7.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$210.0K	1.7%
Q2 22	$206.0K	1.6%
Q3 22	$207.0K	1.5%
Q4 22	$208.0K	1.4%
Q1 23	$199.0K	1.2%
Q2 23	$189.0K	1.2%
Q3 23	$132.0K	0.8%
Q4 23	$38.0K	0.2%
Q1 24	$46.0K	0.3%
Q2 24	$43.0K	0.2%
Q3 24	$55.0K	0.9%
Q4 24	$61.0K	0.4%
Q1 25	$64.0K	0.3%
Q2 25	$70.0K	0.4%
Q3 25	-$105.0K	-0.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$6M	$201.0K
Q3 22	$6M	$140.0K
Q4 22	$6M	$235.0K
Q1 23	$6M	$104.0K
Q2 23	$5M	$143.0K
Q3 23	$5M	$131.0K
Q4 23	$5M	$177.0K
Q1 24	$5M	$121.0K
Q2 24	$5M	$115.0K
Q3 24	$5M	$129.0K
Q4 24	$6M	$223.0K
Q1 25	$477.0K	$200.0K
Q2 25	$492.0K	$223.0K
Q3 25	$501.0K	$151.0K
Q4 25	$10M	$285.0K
Q1 26	$393.0K	$145.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$40M	$246M	$286M
Q3 22	$28M	$229M	$257M
Q4 22	$17M	$224M	$240M
Q1 23	$26M	$222M	$249M
Q2 23	$16M	$207M	$223M
Q3 23	$14M	$194M	$209M
Q4 23	$15M	$144M	$159M
Q1 24	$15M	$183M	$198M
Q2 24	$15M	$174M	$189M
Q3 24	$36M	$169M	$205M
Q4 24	$19M	$128M	$147M
Q1 25	$24M	$53M	$76M
Q2 25	$24M	$53M	$77M
Q3 25	$14M	$149M	$163M
Q4 25	$17M	$162M	$179M
Q1 26	$18M	$156M	$174M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	11M	-0.2%	+0.6%
Q3 22	11M	+0.0%	+0.5%
Q4 22	11M	+0.2%	-0.5%
Q1 23	11M	+0.0%	+0.1%
Q2 23	11M	-1.3%	-1.0%
Q3 23	11M	-1.1%	-2.1%
Q4 23	11M	-0.1%	-2.5%
Q1 24	11M	+0.9%	-1.6%
Q2 24	11M	-0.2%	-0.6%
Q3 24	11M	-0.6%	-0.0%
Q4 24	11M	+0.1%	+0.2%
Q1 25	11M	+1.4%	+0.7%
Q2 25	11M	+0.3%	+1.2%
Q3 25	11M	+0.0%	+1.8%
Q4 25	11M	+0.0%	+1.8%
Q1 26	11M	+0.2%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$69.7K	190
Q3 22	$73.4K	190
Q4 22	$80.5K	182
Q1 23	$87.7K	182
Q2 23	$89.4K	182
Q3 23	$94.4K	182
Q4 23	$103.5K	164
Q1 24	$104.6K	164
Q2 24	$105.4K	164
Q3 24	$36.7K	164
Q4 24	$87.9K	157
Q1 25	$117.1K	157
Q2 25	$116.9K	157
Q3 25	$125.5K	157
Q4 25	$122.8K	158
Q1 26	$105.1K	158

Revenue / Employee