Ballston Spa Bancorp Inc Financials

BSPA

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

This page shows Ballston Spa Bancorp Inc (BSPA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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 BSPA FY2025 2026-05-14

Small asset returns are being amplified by a highly leveraged balance sheet, while incremental revenue is no longer dropping through cleanly.

From FY2024 to FY2025, assets expanded to $928.5M while net income slipped to $4.5M, so balance-sheet growth produced less profit per dollar employed. That matters because ROA eased to 0.5% even as ROE stayed at 6.4%, showing how a 12.1x leverage structure can keep equity returns looking acceptable when asset-level profitability is thin.

Cash conversion remained fairly intact: operating cash flow still slightly exceeded net income in FY2025, so the lower free cash flow of $2.1M reflected heavier reinvestment more than weak earnings quality. Capital spending rose to $2.7M, which helps explain why FCF margin compressed to 4.8%.

The business added revenue, but funding and overhead costs absorbed the gain: interest expense reached $16.9M and SG&A reached $14.1M. That cost shape pushed net margin down to 10.6% from 12.9%, suggesting FY2025 was more about maintaining spread economics than expanding profitability.

Financial Health Signals

Financial Profile 20/100

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 Ballston Spa Bancorp Inc'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.

Growth

Ballston Spa Bancorp Inc's revenue grew 7.6% year-over-year to $42.9M, a solid pace of expansion. This earns a growth score of 46/100.

Leverage

Ballston Spa Bancorp Inc has elevated debt relative to equity (D/E of 12.05), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

Ballston Spa Bancorp Inc has a free cash flow margin of 4.8%, earning a moderate score of 45/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Ballston Spa Bancorp Inc generates a 6.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 26/100. This is down from 7.8% the prior year.

Piotroski F-Score Neutral

4/9

Ballston Spa Bancorp Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.05x

For every $1 of reported earnings, Ballston Spa Bancorp Inc generates $1.05 in operating cash flow ($4.8M OCF vs $4.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$42.9M

YoY+7.6%

Ballston Spa Bancorp Inc generated $42.9M in revenue in fiscal year 2025. This represents an increase of 7.6% from the prior year.

EBITDA

N/A

Net Income

$4.5M

YoY-11.5%

Ballston Spa Bancorp Inc reported $4.5M in net income in fiscal year 2025. This represents a decrease of 11.5% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$2.1M

YoY-61.8%

Ballston Spa Bancorp Inc generated $2.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 61.8% from the prior year.

Cash & Debt

$28.1M

YoY+9.3%

Ballston Spa Bancorp Inc held $28.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.32

YoY+0.0%

Ballston Spa Bancorp Inc paid $1.32 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

10.6%

YoY-2.3pp

Ballston Spa Bancorp Inc's net profit margin was 10.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.3 percentage points from the prior year.

Return on Equity

6.4%

YoY-1.4pp

Ballston Spa Bancorp Inc's ROE was 6.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$2.7M

YoY+301.5%

Ballston Spa Bancorp Inc invested $2.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 301.5% from the prior year.

BSPA Income Statement

Metric	FY25	FY24
Revenue	$42.9M+7.6%	$39.9M
Cost of Revenue	N/A	N/A
Gross Profit	N/A	N/A
R&D Expenses	N/A	N/A
SG&A Expenses	$14.1M+9.9%	$12.8M
Operating Income	N/A	N/A
Interest Expense	$16.9M+4.7%	$16.2M
Income Tax	$1.1M-10.7%	$1.2M
Net Income	$4.5M-11.5%	$5.1M
EPS (Diluted)	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Revenue	$10.9M	N/A	$10.4M	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$3.9M	N/A	$3.4M	N/A
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	$4.2M	N/A	$4.0M	N/A
Income Tax	$233K	N/A	$305K	N/A
Net Income	$244K	N/A	$1.3M	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A

BSPA Balance Sheet

Metric	FY25	FY24
Total Assets	$928.5M+3.6%	$896.3M
Current Assets	N/A	N/A
Cash & Equivalents	$28.1M+9.3%	$25.7M
Inventory	N/A	N/A
Accounts Receivable	N/A	N/A
Goodwill	$1.6M0.0%	$1.6M
Total Liabilities	$857.4M+3.3%	$830.1M
Current Liabilities	N/A	N/A
Long-Term Debt	N/A	N/A
Total Equity	$71.1M+7.4%	$66.2M
Retained Earnings	$61.9M+6.1%	$58.3M

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Total Assets	$941.6M+1.4%	$928.5M	N/A	$896.3M
Current Assets	N/A	N/A	N/A	N/A
Cash & Equivalents	$47.8M+69.9%	$28.1M+10.4%	$25.5M-1.0%	$25.7M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	$1.6M0.0%	$1.6M	N/A	$1.6M
Total Liabilities	$870.9M+1.6%	$857.4M	N/A	$830.1M
Current Liabilities	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$70.7M-0.7%	$71.1M+4.9%	$67.8M+2.4%	$66.2M
Retained Earnings	$61.9M0.0%	$61.9M	N/A	$58.3M

BSPA Cash Flow Statement

Metric	FY25	FY24
Operating Cash Flow	$4.8M-21.4%	$6.0M
Capital Expenditures	$2.7M+301.5%	$672K
Free Cash Flow	$2.1M-61.8%	$5.4M
Investing Cash Flow	-$28.2M+60.4%	-$71.2M
Financing Cash Flow	$25.8M-61.5%	$67.1M
Dividends Paid	$980K0.0%	$980K
Share Buybacks	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Operating Cash Flow	-$588K	N/A	$539K	N/A
Capital Expenditures	$836K	N/A	$510K	N/A
Free Cash Flow	-$1.4M	N/A	$29K	N/A
Investing Cash Flow	$6.6M	N/A	-$2.1M	N/A
Financing Cash Flow	$13.7M	N/A	$1.3M	N/A
Dividends Paid	$245K	N/A	$245K	N/A
Share Buybacks	N/A	N/A	N/A	N/A

BSPA Financial Ratios

Metric	FY25	FY24
Gross Margin	N/A	N/A
Operating Margin	N/A	N/A
Net Margin	10.6%-2.3pp	12.9%
Return on Equity	6.4%-1.4pp	7.8%
Return on Assets	0.5%-0.1pp	0.6%
Current Ratio	N/A	N/A
Debt-to-Equity	12.05-0.5	12.53
FCF Margin	4.8%-8.7pp	13.5%

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	2.2%	N/A	12.5%	N/A
Return on Equity	0.4%	N/A	1.9%	N/A
Return on Assets	0.0%	N/A	N/A	N/A
Current Ratio	N/A	N/A	N/A	N/A
Debt-to-Equity	12.32+0.3	12.05	N/A	12.53
FCF Margin	-13.0%	N/A	0.3%	N/A

Frequently Asked Questions

What is Ballston Spa Bancorp Inc's annual revenue?

Ballston Spa Bancorp Inc (BSPA) reported $42.9M in total revenue for fiscal year 2025. This represents a 7.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ballston Spa Bancorp Inc's revenue growing?

Ballston Spa Bancorp Inc (BSPA) revenue grew by 7.6% year-over-year, from $39.9M to $42.9M in fiscal year 2025.

Is Ballston Spa Bancorp Inc profitable?

Yes, Ballston Spa Bancorp Inc (BSPA) reported a net income of $4.5M in fiscal year 2025, with a net profit margin of 10.6%.

What is Ballston Spa Bancorp Inc's net profit margin?

Ballston Spa Bancorp Inc (BSPA) had a net profit margin of 10.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Ballston Spa Bancorp Inc pay dividends?

Yes, Ballston Spa Bancorp Inc (BSPA) paid $1.32 per share in dividends during fiscal year 2025.

What is Ballston Spa Bancorp Inc's return on equity (ROE)?

Ballston Spa Bancorp Inc (BSPA) has a return on equity of 6.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ballston Spa Bancorp Inc's free cash flow?

Ballston Spa Bancorp Inc (BSPA) generated $2.1M in free cash flow during fiscal year 2025. This represents a -61.8% 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 Ballston Spa Bancorp Inc's operating cash flow?

Ballston Spa Bancorp Inc (BSPA) generated $4.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ballston Spa Bancorp Inc's total assets?

Ballston Spa Bancorp Inc (BSPA) had $928.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ballston Spa Bancorp Inc's capital expenditures?

Ballston Spa Bancorp Inc (BSPA) invested $2.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Ballston Spa Bancorp Inc's debt-to-equity ratio?

Ballston Spa Bancorp Inc (BSPA) had a debt-to-equity ratio of 12.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ballston Spa Bancorp Inc's return on assets (ROA)?

Ballston Spa Bancorp Inc (BSPA) had a return on assets of 0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ballston Spa Bancorp Inc's Piotroski F-Score?

Ballston Spa Bancorp Inc (BSPA) has a Piotroski F-Score of 4 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 Ballston Spa Bancorp Inc's earnings high quality?

Ballston Spa Bancorp Inc (BSPA) has an earnings quality ratio of 1.05x, considered cash-backed (high 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 Ballston Spa Bancorp Inc?

Ballston Spa Bancorp Inc (BSPA) scores 20 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.