What is Arrow Finl Corp's earnings per share (EPS)?

Arrow Finl Corp (AROW) reported diluted earnings per share of $2.65 for fiscal year 2025. This represents a 49.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Arrow Finl Corp Financials

AROW

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Arrow Finl Corp (AROW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AROW FY2025 2026-05-08

Arrow’s earnings recovery is being driven by a low-capex, cash-generative balance sheet rather than by heavier borrowing.

From FY2023 to FY2025, free cash flow recovered faster than net income, climbing from $13.5M to $36.2M. Net income rose too, but only from $30.1M to $44.0M; with capital spending staying small, the gap suggests the pressure year disrupted cash conversion more than the underlying need to reinvest just to keep the franchise running.

The balance sheet is liability-funded even though stated long-term debt is minimal: FY2025 long-term debt was just $4.3M against total liabilities of $4.0B. Return on equity improved from 7.4% in FY2024 to 10.2% in FY2025, so better shareholder returns came without leaning harder on term borrowing.

This is a physically light business in capital-spending terms: FY2025 operating cash flow was $41.3M while capex was only $5.1M. Because maintenance investment is modest, management has room to direct cash toward dividends and buybacks, which helps explain why repurchases could rise even as the company was still climbing out of its FY2023 earnings trough.

Financial Health Signals

Financial Profile 22/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Arrow Finl Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

100

Arrow Finl Corp carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Returns

Arrow Finl Corp's ROE of 10.2% shows moderate profitability relative to equity, earning a score of 31/100. This is up from 7.4% the prior year.

Piotroski F-Score Neutral

5/9

Arrow Finl Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass.

Earnings Quality Mixed

0.94x

For every $1 of reported earnings, Arrow Finl Corp generates $0.94 in operating cash flow ($41.3M OCF vs $44.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$44.0M

YoY+48.0%

5Y CAGR+1.5%

10Y CAGR+5.9%

Arrow Finl Corp reported $44.0M in net income in fiscal year 2025. This represents an increase of 48.0% from the prior year.

EPS (Diluted)

$2.65

YoY+49.7%

5Y CAGR+1.3%

10Y CAGR+3.9%

Arrow Finl Corp earned $2.65 per diluted share (EPS) in fiscal year 2025. This represents an increase of 49.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$36.2M

YoY+25.3%

5Y CAGR-0.5%

10Y CAGR+2.9%

Arrow Finl Corp generated $36.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 25.3% from the prior year.

Cash & Debt

$214.2M

YoY+38.6%

5Y CAGR-10.9%

10Y CAGR+15.4%

Arrow Finl Corp held $214.2M in cash against $4.3M in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.14

YoY+4.6%

5Y CAGR+3.5%

10Y CAGR+2.1%

Arrow Finl Corp paid $1.14 per share in dividends in fiscal year 2025. This represents an increase of 4.6% from the prior year.

Shares Outstanding

16M

YoY-1.8%

Arrow Finl Corp had 16M shares outstanding in fiscal year 2025. This represents a decrease of 1.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

10.2%

YoY+2.8pp

5Y CAGR-2.0pp

10Y CAGR-1.3pp

Arrow Finl Corp's ROE was 10.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$10.2M

YoY+50.8%

5Y CAGR+45.4%

10Y CAGR+21.2%

Arrow Finl Corp spent $10.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 50.8% from the prior year.

Capital Expenditures

$5.1M

YoY-9.1%

5Y CAGR-0.2%

10Y CAGR+12.1%

Arrow Finl Corp invested $5.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 9.1% from the prior year.

AROW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$56.3M+6.8%	$52.7M+10.6%	$47.7M+1.4%	$47.0M+4.9%	$44.8M+6.5%	$42.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$77.0M-7.5%	$83.3M+44.2%	$57.7M+410.5%	$11.3M+117.7%	$5.2M-59.1%	$12.7M
Income Tax	$11.4M+49.5%	$7.6M+2.7%	$7.4M-47.3%	$14.1M-3.0%	$14.5M+31.8%	$11.0M
Net Income	$44.0M+48.0%	$29.7M-1.3%	$30.1M-38.3%	$48.8M-2.2%	$49.9M+22.2%	$40.8M
EPS (Diluted)	$2.65+49.7%	$1.770.0%	$1.77-38.1%	$2.86-2.1%	$2.92+17.3%	$2.49

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$2.7M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$14.9M	N/A	$14.3M+1.8%	$14.1M+3.9%	$13.6M	N/A	$13.4M+3.1%	$13.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$17.7M	N/A	$19.5M+2.2%	$19.0M+0.2%	$19.0M	N/A	$21.0M+0.9%	$20.8M
Income Tax	$3.9M	N/A	$3.8M+22.1%	$3.1M+69.6%	$1.8M	N/A	$2.6M+10.9%	$2.3M
Net Income	$13.5M	N/A	$12.8M+18.7%	$10.8M+71.2%	$6.3M	N/A	$9.0M+4.3%	$8.6M
EPS (Diluted)	$0.82	N/A	$0.77+18.5%	$0.65+71.1%	$0.38	N/A	$0.53+1.9%	$0.52

AROW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.4B+3.2%	$4.3B+3.3%	$4.2B+5.0%	$4.0B-1.5%	$4.0B+9.2%	$3.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$214.2M+38.6%	$154.5M+8.4%	$142.5M+120.4%	$64.7M-85.9%	$457.7M+20.1%	$381.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$23.8M0.0%	$23.8M+8.8%	$21.9M0.0%	$21.9M0.0%	$21.9M0.0%	$21.9M
Total Liabilities	$4.0B+2.8%	$3.9B+3.0%	$3.8B+4.8%	$3.6B-1.1%	$3.7B+9.0%	$3.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$4.3M-50.4%	$8.6M+32.3%	$6.5M-76.6%	$27.8M-38.2%	$45.0M0.0%	$45.0M
Total Equity	$431.9M+7.7%	$400.9M+5.6%	$379.8M+7.4%	$353.5M-4.8%	$371.2M+11.0%	$334.4M
Retained Earnings	$102.3M+32.4%	$77.2M+17.4%	$65.8M+0.6%	$65.4M+20.9%	$54.1M+29.1%	$41.9M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$4.5B+1.7%	$4.4B-3.1%	$4.6B+3.9%	$4.4B-0.8%	$4.4B+3.3%	$4.3B-2.4%	$4.4B+3.9%	$4.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$285.6M+33.3%	$214.2M-46.1%	$397.4M+48.0%	$268.4M-10.9%	$301.4M+95.1%	$154.5M-54.6%	$340.1M+69.9%	$200.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$23.8M0.0%	$23.8M0.0%	$23.8M0.0%	$23.8M0.0%	$23.8M0.0%	$23.8M0.0%	$23.8M+8.8%	$21.9M
Total Liabilities	$4.1B+1.7%	$4.0B-3.7%	$4.2B+4.1%	$4.0B-0.9%	$4.0B+3.6%	$3.9B-2.8%	$4.0B+4.1%	$3.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	$4.3M	N/A	N/A	N/A	$8.6M	N/A	N/A
Total Equity	$440.1M+1.9%	$431.9M+3.4%	$417.7M+2.2%	$408.5M+1.0%	$404.4M+0.9%	$400.9M+1.9%	$393.3M+2.7%	$383.0M
Retained Earnings	$110.8M+8.3%	$102.3M+9.9%	$93.0M+9.5%	$85.0M+7.8%	$78.8M+2.1%	$77.2M-0.3%	$77.4M+6.1%	$73.0M

AROW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$41.3M+19.8%	$34.5M+67.5%	$20.6M-65.5%	$59.7M-12.5%	$68.2M+61.2%	$42.3M
Capital Expenditures	$5.1M-9.1%	$5.6M-21.0%	$7.1M-50.3%	$14.3M+99.7%	$7.1M+39.1%	$5.1M
Free Cash Flow	$36.2M+25.3%	$28.9M+113.9%	$13.5M-70.3%	$45.5M-25.6%	$61.1M+64.2%	$37.2M
Investing Cash Flow	-$61.5M+30.9%	-$89.0M-7.6%	-$82.7M+79.0%	-$393.1M-43.1%	-$274.6M-46.6%	-$187.3M
Financing Cash Flow	$79.8M+20.0%	$66.5M-52.5%	$139.9M+334.5%	-$59.7M-121.1%	$283.1M-37.9%	$455.8M
Dividends Paid	N/A	N/A	N/A	$17.4M+7.0%	$16.3M+3.5%	$15.7M
Share Buybacks	$10.2M+50.8%	$6.8M+88.2%	$3.6M+25.6%	$2.9M+7.9%	$2.7M+68.7%	$1.6M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$15.2M+158.0%	$5.9M-60.7%	$15.0M+46.2%	$10.3M+2.1%	$10.1M+79.0%	$5.6M-40.3%	$9.4M+3.7%	$9.1M
Capital Expenditures	$1.3M+21.2%	$1.1M+45.3%	$739K-63.1%	$2.0M+57.1%	$1.3M-15.8%	$1.5M+10.8%	$1.4M-12.7%	$1.6M
Free Cash Flow	$13.9M+188.3%	$4.8M-66.2%	$14.3M+72.6%	$8.3M-5.9%	$8.8M+113.9%	$4.1M-48.9%	$8.1M+7.1%	$7.5M
Investing Cash Flow	-$15.1M+35.5%	-$23.4M+52.9%	-$49.7M-856.9%	$6.6M+29.1%	$5.1M+105.6%	-$90.1M-375.6%	$32.7M+430.5%	$6.2M
Financing Cash Flow	$71.3M+143.0%	-$165.7M-201.3%	$163.6M+428.3%	-$49.8M-137.8%	$131.7M+230.4%	-$101.0M-203.3%	$97.8M+200.3%	-$97.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$113K-26.6%	$154K-89.2%	$1.4M-72.3%	$5.2M+48.7%	$3.5M+1212.8%	$265K+390.7%	$54K-89.4%	$510K

AROW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	10.2%+2.8pp	7.4%-0.5pp	7.9%-5.9pp	13.8%+0.4pp	13.4%+1.2pp	12.2%
Return on Assets	1.0%+0.3pp	0.7%-0.0pp	0.7%-0.5pp	1.2%0.0pp	1.2%+0.1pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.01-0.0	0.020.0	0.02-0.1	0.08-0.0	0.12-0.0	0.13
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	497.1%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	3.1%	N/A	3.1%+0.4pp	2.6%+1.1pp	1.6%	N/A	2.3%+0.0pp	2.3%
Return on Assets	0.3%	N/A	0.3%+0.0pp	0.2%+0.1pp	0.1%	N/A	0.2%0.0pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.27+9.3	0.01-10.0	9.98+0.2	9.81-0.2	10.00+10.0	0.02-10.2	10.22+0.1	10.08
FCF Margin	513.9%	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Arrow Finl Corp profitable?

Yes, Arrow Finl Corp (AROW) reported a net income of $44.0M in fiscal year 2025.

How much debt does Arrow Finl Corp have?

As of fiscal year 2025, Arrow Finl Corp (AROW) had $214.2M in cash and equivalents against $4.3M in long-term debt.

Does Arrow Finl Corp pay dividends?

Yes, Arrow Finl Corp (AROW) paid $1.14 per share in dividends during fiscal year 2025.

What is Arrow Finl Corp's return on equity (ROE)?

Arrow Finl Corp (AROW) has a return on equity of 10.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Arrow Finl Corp's free cash flow?

Arrow Finl Corp (AROW) generated $36.2M in free cash flow during fiscal year 2025. This represents a 25.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Arrow Finl Corp's operating cash flow?

Arrow Finl Corp (AROW) generated $41.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Arrow Finl Corp's total assets?

Arrow Finl Corp (AROW) had $4.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Arrow Finl Corp's capital expenditures?

Arrow Finl Corp (AROW) invested $5.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Arrow Finl Corp buy back shares?

Yes, Arrow Finl Corp (AROW) spent $10.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Arrow Finl Corp have outstanding?

Arrow Finl Corp (AROW) had 16M shares outstanding as of fiscal year 2025.

What is Arrow Finl Corp's debt-to-equity ratio?

Arrow Finl Corp (AROW) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Arrow Finl Corp's return on assets (ROA)?

Arrow Finl Corp (AROW) had a return on assets of 1.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Arrow Finl Corp's Piotroski F-Score?

Arrow Finl Corp (AROW) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Arrow Finl Corp's earnings high quality?

Arrow Finl Corp (AROW) has an earnings quality ratio of 0.94x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Arrow Finl Corp?

Arrow Finl Corp (AROW) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.