Choiceone Finl Svcs Inc Financials

COFS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Choiceone Finl Svcs Inc (COFS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

Financial Health Signals

Financial Profile 58/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Choiceone Finl Svcs Inc's revenue surged 22.1% year-over-year to $139.1M, reflecting rapid business expansion. This strong growth earns a score of 92/100.

Leverage

Choiceone Finl Svcs Inc has elevated debt relative to equity (D/E of 9.46), 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

100

Choiceone Finl Svcs Inc converts 33.8% of revenue into free cash flow ($46.9M). This strong cash generation earns a score of 100/100.

Returns

Choiceone Finl Svcs Inc's ROE of 10.3% shows moderate profitability relative to equity, earning a score of 41/100. This is down from 10.9% the prior year.

Piotroski F-Score Neutral

5/9

Choiceone Finl Svcs Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.82x

For every $1 of reported earnings, Choiceone Finl Svcs Inc generates $1.82 in operating cash flow ($48.6M OCF vs $26.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$139.1M

YoY+22.1%

5Y CAGR+33.8%

10Y CAGR+22.0%

Choiceone Finl Svcs Inc generated $139.1M in revenue in fiscal year 2024. This represents an increase of 22.1% from the prior year.

EBITDA

N/A

Free Cash Flow

$46.9M

YoY+11.1%

5Y CAGR+41.0%

10Y CAGR+21.5%

Choiceone Finl Svcs Inc generated $46.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 11.1% from the prior year.

Net Income

$26.7M

YoY+25.7%

5Y CAGR+30.1%

10Y CAGR+16.7%

Choiceone Finl Svcs Inc reported $26.7M in net income in fiscal year 2024. This represents an increase of 25.7% from the prior year.

EPS (Diluted)

$3.25

YoY+15.2%

5Y CAGR+15.5%

10Y CAGR+6.6%

Choiceone Finl Svcs Inc earned $3.25 per diluted share (EPS) in fiscal year 2024. This represents an increase of 15.2% from the prior year.

Cash & Debt

$96.8M

YoY+74.5%

5Y CAGR+10.2%

10Y CAGR+19.2%

Choiceone Finl Svcs Inc held $96.8M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.09

YoY+3.8%

5Y CAGR-4.9%

10Y CAGR+6.3%

Choiceone Finl Svcs Inc paid $1.09 per share in dividends in fiscal year 2024. This represents an increase of 3.8% from the prior year.

Shares Outstanding

YoY+18.8%

5Y CAGR+4.4%

10Y CAGR+10.5%

Choiceone Finl Svcs Inc had 9M shares outstanding in fiscal year 2024. This represents an increase of 18.8% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

19.2%

YoY+0.5pp

5Y CAGR-2.9pp

10Y CAGR-10.7pp

Choiceone Finl Svcs Inc's net profit margin was 19.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.5 percentage points from the prior year.

Return on Equity

10.3%

YoY-0.6pp

5Y CAGR+6.5pp

10Y CAGR+1.7pp

Choiceone Finl Svcs Inc's ROE was 10.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

Choiceone Finl Svcs Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$1.7M

YoY-59.7%

5Y CAGR+17.4%

10Y CAGR+8.1%

Choiceone Finl Svcs Inc invested $1.7M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 59.7% from the prior year.

COFS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$139.1M+22.1%	$113.9M+27.8%	$89.1M+37.9%	$64.6M+16.0%	$55.7M+71.6%	$32.5M
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	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$46.7M+41.0%	$33.1M+327.3%	$7.7M+94.8%	$4.0M-14.4%	$4.6M-1.2%	$4.7M
Income Tax	$6.4M+47.7%	$4.3M+7.2%	$4.0M-9.8%	$4.5M+36.2%	$3.3M+152.9%	$1.3M
Net Income	$26.7M+25.7%	$21.3M-10.1%	$23.6M+7.2%	$22.0M+41.2%	$15.6M+117.7%	$7.2M
EPS (Diluted)	$3.25+15.2%	$2.82-10.5%	$3.15+10.1%	$2.86+38.2%	$2.07+31.0%	$1.58

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$5.3M+9.7%	$4.8M-89.3%	$44.9M-55.2%	$100.1M+2887.0%	$3.4M+5.7%	$3.2M-90.2%	$32.5M-69.2%	$105.4M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$17.1M-2.9%	$17.6M+29.0%	$13.6M+16.8%	$11.7M+2.2%	$11.4M-1.1%	$11.6M-3.2%	$12.0M+4.8%	$11.4M
Income Tax	$3.6M+16.3%	$3.1M+185.0%	-$3.7M-324.9%	$1.6M-14.8%	$1.9M+21.1%	$1.6M+31.7%	$1.2M+4.4%	$1.2M
Net Income	$14.7M+8.5%	$13.5M+197.3%	-$13.9M-294.2%	$7.2M-2.6%	$7.3M+11.6%	$6.6M+16.9%	$5.6M+6.4%	$5.3M
EPS (Diluted)	$0.97+7.8%	$0.90+169.8%	$-1.29-393.2%	$0.44-48.2%	$0.85-2.3%	$0.87+17.6%	$0.74+100.0%	$0.37

COFS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.7B+5.7%	$2.6B+8.0%	$2.4B+0.8%	$2.4B+23.3%	$1.9B+38.5%	$1.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$96.8M+74.5%	$55.4M+26.1%	$43.9M+37.8%	$31.9M-59.9%	$79.5M+33.5%	$59.6M
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	$59.9M0.0%	$59.9M0.0%	$59.9M0.0%	$59.9M-0.9%	$60.5M+14.4%	$52.9M
Total Liabilities	$2.5B+3.4%	$2.4B+7.4%	$2.2B+3.4%	$2.1B+26.8%	$1.7B+41.7%	$1.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$260.4M+33.1%	$195.6M+15.8%	$168.9M-23.8%	$221.7M-2.5%	$227.3M+18.3%	$192.1M
Retained Earnings	$91.4M+24.0%	$73.7M+7.8%	$68.4M+30.7%	$52.3M+39.6%	$37.5M+33.6%	$28.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$4.3B-0.3%	$4.3B+0.1%	$4.3B+58.1%	$2.7B0.0%	$2.7B+2.0%	$2.7B0.0%	$2.7B+3.6%	$2.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$99.0M-36.7%	$156.3M+12.1%	$139.4M+44.1%	$96.8M-33.7%	$145.9M+44.5%	$101.0M-32.7%	$150.1M+170.8%	$55.4M
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	$126.7M0.0%	$126.7M0.0%	$126.7M+111.4%	$59.9M0.0%	$59.9M0.0%	$59.9M0.0%	$59.9M0.0%	$59.9M
Total Liabilities	$3.8B-0.8%	$3.9B0.0%	$3.9B+57.5%	$2.5B-0.6%	$2.5B+2.9%	$2.4B-2.2%	$2.5B+3.5%	$2.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$449.6M+4.1%	$431.8M+1.1%	$427.1M+64.0%	$260.4M+5.1%	$247.7M+15.5%	$214.5M+3.8%	$206.8M+5.7%	$195.6M
Retained Earnings	$93.1M+12.7%	$82.6M+12.7%	$73.3M-19.8%	$91.4M+5.4%	$86.8M+6.0%	$81.8M+5.9%	$77.3M+4.9%	$73.7M

COFS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$48.6M+4.7%	$46.5M+4.9%	$44.3M+17.6%	$37.7M+344.7%	$8.5M-7.9%	$9.2M
Capital Expenditures	$1.7M-59.7%	$4.2M+263.7%	$1.2M-57.8%	$2.8M+49.0%	$1.9M+141.8%	$766K
Free Cash Flow	$46.9M+11.1%	$42.2M-2.1%	$43.2M+23.5%	$34.9M+427.3%	$6.6M-21.5%	$8.4M
Investing Cash Flow	-$97.9M+46.0%	-$181.4M-102.0%	-$89.8M+82.8%	-$521.4M-107.9%	-$250.8M-789.8%	$36.4M
Financing Cash Flow	$90.6M-38.1%	$146.4M+154.4%	$57.5M-86.8%	$436.0M+66.3%	$262.2M+4711.9%	-$5.7M
Dividends Paid	$9.0M+13.9%	$7.9M+4.4%	$7.6M+5.3%	$7.2M+16.6%	$6.2M+6.2%	$5.8M
Share Buybacks	$0	$0-100.0%	$682K-91.2%	$7.8M	$0-100.0%	$67K

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$15.3M+70.7%	$9.0M+238.4%	-$6.5M-125.9%	$25.0M+439.2%	-$7.4M-146.7%	$15.7M+2.8%	$15.3M+241.2%	-$10.8M
Capital Expenditures	$1.6M-22.9%	$2.1M+148.5%	$835K+26.7%	$659K+160.5%	$253K-47.6%	$483K+55.3%	$311K-60.1%	$780K
Free Cash Flow	$13.7M+99.0%	$6.9M+194.2%	-$7.3M-130.1%	$24.3M+419.3%	-$7.6M-149.9%	$15.3M+1.7%	$15.0M+229.0%	-$11.6M
Investing Cash Flow	-$42.1M-518.9%	$10.1M-96.1%	$257.0M+703.7%	-$42.6M+28.3%	-$59.4M-1546.9%	-$3.6M-147.3%	$7.6M+108.9%	-$85.3M
Financing Cash Flow	-$30.5M-1315.6%	-$2.2M+99.0%	-$207.8M-558.3%	-$31.6M-128.3%	$111.6M+282.3%	-$61.3M-185.4%	$71.8M+942.4%	$6.9M
Dividends Paid	$4.2M0.0%	$4.2M+0.3%	$4.2M+67.0%	$2.5M+3.8%	$2.4M+18.3%	$2.0M+0.2%	$2.0M0.0%	$2.0M
Share Buybacks	N/A	N/A	$2.1M	$0-100.0%	$67K	N/A	$0	$0

COFS Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
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	19.2%+0.5pp	18.7%-7.8pp	26.5%-7.6pp	34.1%+6.1pp	28.0%+5.9pp	22.1%
Return on Equity	10.3%-0.6pp	10.9%-3.1pp	14.0%+4.1pp	9.9%+3.1pp	6.9%+3.1pp	3.7%
Return on Assets	1.0%+0.1pp	0.8%-0.2pp	1.0%+0.1pp	0.9%+0.1pp	0.8%+0.3pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	9.46-2.7	12.17-1.0	13.13+3.5	9.68+2.2	7.45+1.2	6.21
FCF Margin	33.8%-3.3pp	37.1%-11.3pp	48.4%-5.6pp	54.1%+42.2pp	11.9%-14.1pp	26.0%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
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	277.8%-3.1pp	280.9%+311.9pp	-31.0%-38.1pp	7.1%-212.1pp	219.3%+11.5pp	207.8%+190.4pp	17.3%+12.3pp	5.0%
Return on Equity	3.3%+0.1pp	3.1%+1.1pp	2.0%-0.8pp	2.8%-0.2pp	3.0%-0.1pp	3.1%+0.4pp	2.7%0.0pp	2.7%
Return on Assets	0.3%+0.0pp	0.3%+0.6pp	-0.3%-0.6pp	0.3%-0.0pp	0.3%+0.0pp	0.3%+0.0pp	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	8.56-0.4	8.98-0.1	9.08-0.4	9.46-0.5	10.00-1.2	11.23-0.7	11.92-0.3	12.17
FCF Margin	259.1%+116.2pp	142.9%+159.1pp	-16.3%-40.5pp	24.3%+251.3pp	-227.1%-708.2pp	481.2%+435.0pp	46.2%+57.2pp	-11.0%

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Frequently Asked Questions

What is Choiceone Finl Svcs Inc's annual revenue?

Choiceone Finl Svcs Inc (COFS) reported $139.1M in total revenue for fiscal year 2024. This represents a 22.1% 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 Choiceone Finl Svcs Inc's revenue growing?

Choiceone Finl Svcs Inc (COFS) revenue grew by 22.1% year-over-year, from $113.9M to $139.1M in fiscal year 2024.

Is Choiceone Finl Svcs Inc profitable?

Yes, Choiceone Finl Svcs Inc (COFS) reported a net income of $26.7M in fiscal year 2024, with a net profit margin of 19.2%.

What is Choiceone Finl Svcs Inc's earnings per share (EPS)?

Choiceone Finl Svcs Inc (COFS) reported diluted earnings per share of $3.25 for fiscal year 2024. This represents a 15.2% 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.

What is Choiceone Finl Svcs Inc's net profit margin?

Choiceone Finl Svcs Inc (COFS) had a net profit margin of 19.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Choiceone Finl Svcs Inc pay dividends?

Yes, Choiceone Finl Svcs Inc (COFS) paid $1.09 per share in dividends during fiscal year 2024.

What is Choiceone Finl Svcs Inc's return on equity (ROE)?

Choiceone Finl Svcs Inc (COFS) has a return on equity of 10.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Choiceone Finl Svcs Inc's free cash flow?

Choiceone Finl Svcs Inc (COFS) generated $46.9M in free cash flow during fiscal year 2024. This represents a 11.1% 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 Choiceone Finl Svcs Inc's operating cash flow?

Choiceone Finl Svcs Inc (COFS) generated $48.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Choiceone Finl Svcs Inc's total assets?

Choiceone Finl Svcs Inc (COFS) had $2.7B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Choiceone Finl Svcs Inc's capital expenditures?

Choiceone Finl Svcs Inc (COFS) invested $1.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Choiceone Finl Svcs Inc have outstanding?

Choiceone Finl Svcs Inc (COFS) had 9M shares outstanding as of fiscal year 2024.

What is Choiceone Finl Svcs Inc's debt-to-equity ratio?

Choiceone Finl Svcs Inc (COFS) had a debt-to-equity ratio of 9.46 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Choiceone Finl Svcs Inc's return on assets (ROA)?

Choiceone Finl Svcs Inc (COFS) had a return on assets of 1.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Choiceone Finl Svcs Inc's Piotroski F-Score?

Choiceone Finl Svcs Inc (COFS) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Choiceone Finl Svcs Inc's earnings high quality?

Choiceone Finl Svcs Inc (COFS) has an earnings quality ratio of 1.82x, 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 Choiceone Finl Svcs Inc?

Choiceone Finl Svcs Inc (COFS) scores 58 out of 100 on our Financial Profile, indicating moderate 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.