SHBI

MKT CAP:$640M

Shore Bancshares, Inc.

Market Cap

$640M

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$19.25+$1.84 (+10.57%)

Apr 23, 2026

Company Details

Shore Bancshares, Inc. operates as a bank holding company for the Shore United Bank that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings...

CEO

James Burke

IPO Date

Apr 9, 2001

Website

www.shoreunitedbank.com/shore-bancshares--inc-

Key Metrics TTM

Revenue

$343M

+5.0% YoY

Net Income

$60M

EPS (Diluted)

$1.78

Free Cash Flow

$12M

Revenue / Share

$10.25

Gross Margin

63.2%

Operating Margin

23.0%

Net Margin

17.4%

FCF Margin

3.6%

P/S

1.9x

P/E

10.8x

Earnings Reports

FY 2025

Mar 2, 2026

$343M+5.0%EPS $1.78

Q4 2025

Mar 2, 2026

$89M+4.2%EPS $0.48

Q3 2025

Nov 4, 2025

$85M+3.6%EPS $0.43

Q2 2025

Aug 7, 2025

$86M+5.4%EPS $0.46

Q1 2025

May 8, 2025

$83M+6.9%EPS $0.41

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$30M	$28M	$8M
Q2 22	$33M	$30M	$10M
Q3 22	$36M	$32M	$13M
Q4 22	$38M	$32M	$11M
Q1 23	$40M	$30M	$9M
Q2 23	$42M	$27M	$6M
Q3 23	$77M	$24M	-$15M
Q4 23	$79M	$48M	$11M
Q1 24	$78M	$47M	$11M
Q2 24	$82M	$48M	$15M
Q3 24	$82M	$49M	$15M
Q4 24	$85M	$52M	$18M
Q1 25	$83M	$52M	$18M
Q2 25	$86M	$55M	$21M
Q3 25	$85M	$53M	$19M
Q4 25	$89M	$56M	$21M

Valuation

Quarter	P/S	P/E
Q1 22	4.3x	24.4x
Q2 22	3.4x	18.1x
Q3 22	2.7x	13.6x
Q4 22	2.5x	11.1x
Q1 23	1.9x	8.9x
Q2 23	2.5x	13.7x
Q3 23	1.7x	37.5x
Q4 23	1.9x	57.6x
Q1 24	1.3x	38.5x
Q2 24	1.2x	22.4x
Q3 24	1.5x	12.3x
Q4 24	1.6x	12.0x
Q1 25	1.4x	9.1x
Q2 25	1.6x	9.8x
Q3 25	1.6x	9.7x
Q4 25	1.7x	10.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$25M	$24M
Q2 22	$18M	$17M
Q3 22	$7M	$6M
Q4 22	$3M	$2M
Q1 23	$11M	$11M
Q2 23	-$570.0K	-$2M
Q3 23	-$24M	-$26M
Q4 23	$36M	$34M
Q1 24	$2M	$614.0K
Q2 24	$3M	$1M
Q3 24	$9M	$8M
Q4 24	$32M	$31M
Q1 25	$20M	$19M
Q2 25	-$8M	-$9M
Q3 25	$42M	$42M
Q4 25	-$36M	-$39M

Capital Expenditures

Quarter	CapEx
Q1 22	$974.0K
Q2 22	$746.0K
Q3 22	$554.0K
Q4 22	$141.0K
Q1 23	$619.0K
Q2 23	$1M
Q3 23	$2M
Q4 23	$2M
Q1 24	$2M
Q2 24	$2M
Q3 24	$610.0K
Q4 24	$1M
Q1 25	$1M
Q2 25	$881.0K
Q3 25	$586.0K
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+69.7%	+83.1%
Q2 22	+76.3%	+72.5%
Q3 22	+81.3%	+68.7%
Q4 22	+38.6%	+13.8%
Q1 23	+33.0%	+38.0%
Q2 23	+29.0%	+63.0%
Q3 23	+115.5%	+303.5%
Q4 23	+106.3%	+152.1%
Q1 24	+92.4%	+113.0%
Q2 24	+94.5%	+82.7%
Q3 24	+5.9%	-27.3%
Q4 24	+8.4%	-0.6%
Q1 25	+6.9%	-3.4%
Q2 25	+5.4%	-1.9%
Q3 25	+3.6%	-1.7%
Q4 25	+4.2%	+1.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$130.0K	0.4%
Q2 22	$172.0K	0.5%
Q3 22	$175.0K	0.5%
Q4 22	$159.0K	0.4%
Q1 23	$155.0K	0.4%
Q2 23	$170.0K	0.4%
Q3 23	$528.0K	0.7%
Q4 23	$321.0K	0.4%
Q1 24	$354.0K	0.5%
Q2 24	$410.0K	0.5%
Q3 24	$488.0K	0.6%
Q4 24	$478.0K	0.6%
Q1 25	$511.0K	0.6%
Q2 25	$459.0K	0.5%
Q3 25	$387.0K	0.5%
Q4 25	$533.0K	0.6%

OpEx Breakdown

Quarter	G&A
Q1 22	$13M
Q2 22	$12M
Q3 22	$11M
Q4 22	$15M
Q1 23	$12M
Q2 23	$12M
Q3 23	$19M
Q4 23	$18M
Q1 24	$17M
Q2 24	$18M
Q3 24	$18M
Q4 24	$19M
Q1 25	$18M
Q2 25	$19M
Q3 25	$20M
Q4 25	$27M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$403M	$95M	$498M
Q3 22	$163M	$86M	$250M
Q4 22	$55M	$84M	$139M
Q1 23	$38M	$82M	$119M
Q2 23	$46M	$78M	$124M
Q3 23	$109M	$79M	$188M
Q4 23	$372M	$111M	$483M
Q1 24	$115M	$179M	$294M
Q2 24	$139M	$132M	$270M
Q3 24	$184M	$133M	$317M
Q4 24	$460M	$149M	$609M
Q1 25	$389M	$179M	$568M
Q2 25	$185M	$188M	$373M
Q3 25	$417M	$114M	$531M
Q4 25	$50M	$0	$50M
Q1 26	$0	$0	$0

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	20M	+15.4%	+68.8%
Q2 22	20M	+0.1%	+68.9%
Q3 22	20M	+0.0%	+68.9%
Q4 22	20M	+0.1%	+15.6%
Q1 23	20M	+0.1%	+0.3%
Q2 23	20M	+0.1%	+0.3%
Q3 23	33M	+66.5%	+66.9%
Q4 23	33M	+0.6%	+67.8%
Q1 24	33M	-0.4%	+66.9%
Q2 24	33M	+0.1%	+67.0%
Q3 24	33M	+0.3%	+0.6%
Q4 24	33M	+0.1%	+0.1%
Q1 25	33M	+0.0%	+0.6%
Q2 25	33M	+0.0%	+0.5%
Q3 25	33M	+0.0%	+0.2%
Q4 25	33M	+0.2%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$66.9K	454
Q2 22	$71.6K	454
Q3 22	$79.1K	454
Q4 22	$82.2K	464
Q1 23	$87.1K	464
Q2 23	$90.4K	464
Q3 23	$166.8K	464
Q4 23	$124.9K	630
Q1 24	$123.3K	630
Q2 24	$129.4K	630
Q3 24	$130.1K	630
Q4 24	$142.8K	597
Q1 25	$139.1K	597
Q2 25	$143.9K	597
Q3 25	$142.2K	597
Q4 25	$146.1K	608

Revenue / Employee