Midwestone Financials
Midwestone (MOFG) reported $294.3M in revenue for fiscal year 2024, up 17.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Cash generation stayed positive even as reported earnings swung sharply negative, showing MidWestOne’s 2024 strain was more accounting than funding stress.
FY2024 produced a-$60.3M net loss but still generated$63.2M of operating cash flow, so earnings and cash diverged sharply rather than collapsing together, which means the loss did not consume day-to-day liquidity at the same pace. With cash balances rising from$81.7M to$204.9M even as liabilities fell, liquidity appears to have been rebuilt by shrinking or repositioning assets rather than by adding leverage.
Leverage eased materially: debt-to-equity fell from 0.4x in FY2020 to 0.2x in FY2024, and long-term debt was reduced along the way. But share count rose from 16.0M to 20.8M, so part of that stronger capital posture came from a larger equity base, not just from retained profits; each existing share now represents a smaller slice of the company.
Dividend cash demands were still covered by free cash flow, with
Financial Health Signals
Scored against banks for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Midwestone'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.
Not available for Midwestone, and counted as zero in the overall score.
Midwestone passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Midwestone reported a net loss of $60.3M while generating $63.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Midwestone generated $294.3M in revenue in fiscal year 2024. This represents an increase of 17.9% from the prior year.
Midwestone reported -$60.3M in net income in fiscal year 2024. This represents a decrease of 389.0% from the prior year.
Midwestone earned -$3.54 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 366.2% from the prior year.
Not reported for fiscal year 2024.
Cash & Balance Sheet
Midwestone generated $60.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 3.9% from the prior year.
Midwestone held $204.9M in cash against $113.4M in long-term debt as of fiscal year 2024.
Midwestone paid $0.97 per share in dividends in fiscal year 2024. That is unchanged from the prior year.
Margins & Returns
Midwestone's net profit margin was -20.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 28.8 percentage points from the prior year.
Midwestone's ROE was -10.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 14.8 percentage points from the prior year.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
Capital Allocation
Midwestone repurchased no shares in fiscal year 2024.
Midwestone invested $2.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 40.7% from the prior year.
Not reported for fiscal year 2024.
MOFG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $309.4M | $294.3M+17.9% | $249.6M+26.9% | $196.8M+11.3% | $176.8M-4.3% | $184.8M+1.3% | $182.4M+42.4% | $128.1M+7.7% | $118.9M+5.9% | $112.3M+11.5% | $100.7M+56.4% | $64.4M-2.6% | $66.1M-4.6% | $69.3M+1.1% | $68.6M-3.4% | $71.0M |
| SG&A Expenses | $101.9M | $82.5M+8.0% | $76.4M-2.2% | $78.1M+11.7% | $69.9M+5.3% | $66.4M+1.1% | $65.7M+32.0% | $49.8M+4.0% | $47.9M-3.5% | $49.6M+18.5% | $41.9M+68.0% | $24.9M+1.3% | $24.6M-19.8% | $30.7M+32.3% | $23.2M+0.1% | $23.2M |
| Interest Expense | $112.0M | $136.7M+29.7% | $105.4M+246.8% | $30.4M+48.4% | $20.5M-35.6% | $31.8M-18.0% | $38.8M+69.8% | $22.8M+50.8% | $15.1M+19.0% | $12.7M+19.5% | $10.6M+11.5% | $9.6M-21.3% | $12.1M-23.9% | $16.0M-19.4% | $19.8M-14.4% | $23.1M |
| Income Tax | $16.3M | -$23.7M-696.4% | $4.0M-74.8% | $15.8M-21.2% | $20.0M+198.4% | $6.7M+1.9% | $6.6M-13.7% | $7.6M-26.6% | $10.4M+51.3% | $6.9M-12.3% | $7.8M+11.2% | $7.0M+5.8% | $6.6M+27.5% | $5.2M+13.1% | $4.6M+35.5% | $3.4M |
| Net Income | $58.5M | -$60.3M-389.0% | $20.9M-65.7% | $60.8M-12.4% | $69.5M+949.2% | $6.6M-84.8% | $43.6M+43.8% | $30.4M+62.3% | $18.7M-8.3% | $20.4M-18.8% | $25.1M+35.6% | $18.5M-0.5% | $18.6M+12.5% | $16.5M+24.2% | $13.3M+31.5% | $10.1M |
| EPS (Diluted) | $2.81 | -$3.54-366.2% | $1.33-65.6% | $3.87-11.4% | $4.37+965.9% | $0.41-86.0% | $2.93+18.1% | $2.48+60.0% | $1.55-12.9% | $1.78-26.4% | $2.42+10.5% | $2.19+0.5% | $2.18+12.4% | $1.94+32.0% | $1.47+37.4% | $1.07 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.
TTM is the trailing twelve months, Q4 FY2024 through Q3 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MOFG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.2B-3.0% | $6.4B-2.3% | $6.6B+9.2% | $6.0B+8.4% | $5.6B+19.4% | $4.7B+41.4% | $3.3B+2.5% | $3.2B+4.3% | $3.1B+3.3% | $3.0B+65.5% | $1.8B+2.6% | $1.8B-2.1% | $1.8B+5.8% | $1.7B+7.2% | $1.6B |
| Cash & Equivalents | $204.9M+150.7% | $81.7M-5.4% | $86.4M-57.6% | $203.8M+146.6% | $82.7M+12.5% | $73.5M+61.6% | $45.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $69.8M+11.7% | $62.5M0.0% | $62.5M0.0% | $62.5M0.0% | $62.5M-32.0% | $91.9M+42.2% | $64.7M0.0% | $64.7M0.0% | $64.7M+0.2% | $64.5M | $0 | N/A | N/A | N/A | N/A |
| Total Liabilities | $5.7B-3.8% | $5.9B-3.0% | $6.1B+10.7% | $5.5B+9.1% | $5.0B+21.6% | $4.1B+41.2% | $2.9B+2.2% | $2.9B+3.5% | $2.8B+3.4% | $2.7B+66.9% | $1.6B+1.9% | $1.6B-2.6% | $1.6B+5.2% | $1.5B+8.1% | $1.4B |
| Long-Term Debt | $113.4M-8.0% | $123.3M-11.4% | $139.2M-10.1% | $154.9M-25.8% | $208.7M-9.9% | $231.7M+37.3% | $168.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $559.7M+6.7% | $524.4M+6.4% | $492.8M-6.6% | $527.5M+2.4% | $515.3M+1.2% | $509.0M+42.5% | $357.1M+4.9% | $340.3M+11.4% | $305.5M+3.1% | $296.2M+53.7% | $192.7M+8.3% | $178.0M+2.3% | $173.9M+11.1% | $156.5M-1.2% | $158.5M |
| Retained Earnings | $217.8M-26.1% | $294.8M+1.9% | $289.3M+18.9% | $243.4M+29.3% | $188.2M-6.4% | $201.1M+19.0% | $169.0M+14.1% | $148.1M+8.1% | $137.0M+10.6% | $123.9M+17.9% | $105.1M+14.9% | $91.5M+18.6% | $77.1M+21.2% | $63.6M+20.2% | $53.0M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.
MOFG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $82.4M | $63.2M+1.0% | $62.6M-30.7% | $90.3M-19.0% | $111.6M+1118.0% | $9.2M-80.6% | $47.3M+10.6% | $42.8M+4.1% | $41.1M+7.6% | $38.2M+16.7% | $32.7M+40.6% | $23.3M-17.7% | $28.3M+25.4% | $22.5M-5.0% | $23.7M+15.9% | $20.5M |
| Capital Expenditures | $3.5M | $2.4M-40.7% | $4.1M+52.3% | $2.7M+32.2% | $2.0M-5.4% | $2.1M-2.7% | $2.2M-60.7% | $5.6M+11.6% | $5.0M-11.5% | $5.6M-62.1% | $14.9M+20.7% | $12.3M+172.5% | $4.5M+28.5% | $3.5M+28.0% | $2.7M-17.7% | $3.3M |
| Free Cash Flow | $78.9M | $60.8M+3.9% | $58.5M-33.3% | $87.7M-20.0% | $109.5M+1458.0% | $7.0M-84.4% | $45.1M+21.3% | $37.2M+3.1% | $36.1M+10.9% | $32.5M+82.5% | $17.8M+63.0% | $10.9M-53.9% | $23.7M+24.8% | $19.0M-9.4% | $21.0M+22.4% | $17.1M |
| Investing Cash Flow | $332.1M | $312.3M+140.7% | $129.7M+147.5% | -$273.3M+36.2% | -$428.3M+50.6% | -$867.4M-1292.4% | $72.7M+177.0% | -$94.4M+36.5% | -$148.8M-20.4% | -$123.6M-2565.3% | $5.0M | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | -$344.2M | -$252.3M-28.1% | -$197.0M-400.6% | $65.5M-85.0% | $437.9M-49.5% | $867.5M+1042.3% | -$92.1M-299.3% | $46.2M-60.0% | $115.4M+41.6% | $81.5M+681.0% | -$14.0M | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | $20.1M | $16.5M+8.5% | $15.2M+2.3% | $14.9M+4.1% | $14.3M+0.8% | $14.2M+23.5% | $11.5M+20.4% | $9.5M+18.3% | $8.1M+10.2% | $7.3M+15.3% | $6.3M+30.3% | $4.9M+14.3% | $4.3M+39.5% | $3.1M+27.0% | $2.4M-4.7% | $2.5M |
| Share Buybacks | N/A | $0 | $0-100.0% | $2.7M-76.4% | $11.6M+149.9% | $4.6M-1.2% | $4.7M+119.8% | $2.1M | $0 | $0 | $0-100.0% | $4.0M+312.3% | $967K-46.6% | $1.8M+20.8% | $1.5M | $0 |
TTM is the trailing twelve months, Q4 FY2024 through Q3 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MOFG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -20.5%-28.8pp | 8.4%-22.6pp | 30.9%-8.4pp | 39.3%+35.7pp | 3.6%-20.3pp | 23.9%+0.2pp | 23.7%+8.0pp | 15.7%-2.4pp | 18.1%-6.8pp | 24.9%-3.8pp | 28.8%+0.6pp | 28.1%+4.3pp | 23.9%+4.4pp | 19.4%+5.2pp | 14.3% |
| Return on Equity | -10.8%-14.8pp | 4.0%-8.4pp | 12.3%-0.8pp | 13.2%+11.9pp | 1.3%-7.3pp | 8.6%+0.1pp | 8.5%+3.0pp | 5.5%-1.2pp | 6.7%-1.8pp | 8.5%-1.1pp | 9.6%-0.8pp | 10.4%+0.9pp | 9.5%+1.0pp | 8.5%+2.1pp | 6.4% |
| Return on Assets | -1.0%-1.3pp | 0.3%-0.6pp | 0.9%-0.2pp | 1.1%+1.0pp | 0.1%-0.8pp | 0.9%0.0pp | 0.9%+0.3pp | 0.6%-0.1pp | 0.7%-0.2pp | 0.8%-0.2pp | 1.0%0.0pp | 1.1%+0.1pp | 0.9%+0.1pp | 0.8%+0.2pp | 0.6% |
| Debt-to-Equity | 0.200.0x | 0.240.0x | 0.280.0x | 0.29-0.1x | 0.41-0.1x | 0.460.0x | 0.47-8.0x | 8.44-0.6x | 9.080.0x | 9.06+0.7x | 8.34-0.5x | 8.86-0.4x | 9.31-0.5x | 9.83+0.9x | 8.98 |
| FCF Margin | 20.6%-2.8pp | 23.4%-21.1pp | 44.5%-17.4pp | 62.0%+58.2pp | 3.8%-20.9pp | 24.7%-4.3pp | 29.0%-1.3pp | 30.3%+1.4pp | 29.0%+11.3pp | 17.7%+0.7pp | 17.0%-18.9pp | 35.9%+8.5pp | 27.5%-3.1pp | 30.6%+6.5pp | 24.1% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
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Where Midwestone Ranks
Frequently Asked Questions
What is Midwestone's annual revenue?
Midwestone (MOFG) reported $294.3M in total revenue for fiscal year 2024. This represents a 17.9% 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 Midwestone's revenue growing?
Midwestone (MOFG) revenue grew by 17.9% year-over-year, from $249.6M to $294.3M in fiscal year 2024.
Is Midwestone profitable?
No, Midwestone (MOFG) reported a net income of -$60.3M in fiscal year 2024, with a net profit margin of -20.5%.
How much debt does Midwestone have?
As of fiscal year 2024, Midwestone (MOFG) had $204.9M in cash and equivalents against $113.4M in long-term debt.
What is Midwestone's net profit margin?
Midwestone (MOFG) had a net profit margin of -20.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Midwestone pay dividends?
Yes, Midwestone (MOFG) paid $0.97 per share in dividends during fiscal year 2024.
What is Midwestone's return on equity (ROE)?
Midwestone (MOFG) has a return on equity of -10.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Midwestone's free cash flow?
Midwestone (MOFG) generated $60.8M in free cash flow during fiscal year 2024. This represents a 3.9% 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 Midwestone's operating cash flow?
Midwestone (MOFG) generated $63.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Midwestone's total assets?
Midwestone (MOFG) had $6.2B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Midwestone's capital expenditures?
Midwestone (MOFG) invested $2.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Midwestone's debt-to-equity ratio?
Midwestone (MOFG) had a debt-to-equity ratio of 0.20 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Midwestone's return on assets (ROA)?
Midwestone (MOFG) 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 Midwestone's Piotroski F-Score?
Midwestone (MOFG) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Midwestone's earnings high quality?
Midwestone (MOFG) reported a net loss of $60.3M while generating $63.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 Midwestone?
Midwestone (MOFG) scores 6 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.