What is Burke & Herbert Financial Services' operating income?

Burke & Herbert Financial Services' total operating income in 2025 was $150.05 million, based on the following breakdown: Total Gross Profit: $345.61 million Total Operating Expenses: $195.56 million

Burke & Herbert Financial Services (BHRB) Financials

$66.14 +0.65 (+0.99%)

Closing price 03:59 PM Eastern

Extended Trading

$66.06 -0.08 (-0.12%)

As of 04:10 PM Eastern

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Annual Income Statements for Burke & Herbert Financial Services

This table shows Burke & Herbert Financial Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	36	44	23	35	116
Consolidated Net Income / (Loss)	36	44	23	36	117
Net Income / (Loss) Continuing Operations	36	44	23	36	117
Total Pre-Tax Income	40	52	25	40	145
Total Operating Income	42	44	22	62	150
Total Gross Profit	116	120	109	260	346
Total Revenue	118	120	109	264	345
Operating Revenue	114	118	107	260	338
Other Revenue	3.44	2.72	1.46	3.84	6.92
Total Cost of Revenue	1.74	0.00	-0.02	3.75	-0.80
Other Cost of Revenue	-1.00	0.00	-0.02	3.75	-0.80
Total Operating Expenses	74	76	86	198	196
Amortization Expense	-	-	0.00	11	16
Other Operating Expenses / (Income)	74	76	86	186	180
Total Other Income / (Expense), net	-1.27	7.84	2.62	-22	-5.11
Interest Expense	1.47	0.06	0.09	0.11	0.11
Interest & Investment Income	0.21	0.44	2.95	5.58	7.85
Other Income / (Expense), net	-	7.47	-0.24	-28	-13
Income Tax Expense	4.28	8.29	2.37	4.19	28
Preferred Stock Dividends Declared	-	0.00	0.00	0.68	0.90
Basic Earnings per Share	$4.87	$5.93	$3.05	$2.83	$7.76
Weighted Average Basic Shares Outstanding	-	-	7.44M	14.98M	15.04M
Diluted Earnings per Share	$4.87	$5.89	$3.02	$2.82	$7.72
Weighted Average Diluted Shares Outstanding	-	-	7.44M	14.98M	15.04M
Weighted Average Basic & Diluted Shares Outstanding	-	-	7.44M	14.98M	15.04M
Cash Dividends to Common per Share	$2.00	$2.12	$2.12	$2.14	$2.20

This table shows Burke & Herbert Financial Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	4.06	5.08	5.21	-17	27	20	27	30	30	30	27
Consolidated Net Income / (Loss)	4.06	5.08	5.21	-17	28	20	27	30	30	30	27
Net Income / (Loss) Continuing Operations	4.06	5.08	5.21	-17	28	20	27	30	30	30	27
Total Pre-Tax Income	4.52	5.58	5.89	-19	33	20	33	37	37	38	33
Total Operating Income	3.99	0.93	4.85	2.01	34	18	36	39	38	37	34
Total Gross Profit	26	23	26	66	85	79	85	88	86	86	86
Total Revenue	38	45	26	70	85	27	85	88	86	85	86
Operating Revenue	37	44	26	69	84	25	83	86	84	85	84
Other Revenue	0.76	0.63	0.50	1.49	1.31	2.28	1.32	2.37	2.30	0.84	1.66
Total Cost of Revenue	12	22	0.00	3.81	0.06	-52	-0.40	-0.09	-0.31	-0.40	-0.20
Other Cost of Revenue	0.24	-	-	3.81	0.06	0.46	-0.40	-0.09	-0.31	-	-0.20
Total Operating Expenses	22	22	21	64	51	61	50	49	48	49	51
Amortization Expense	-	-	-	-	4.30	-	4.30	-	3.68	-	3.68
Other Operating Expenses / (Income)	22	22	21	64	47	61	45	49	44	37	48
Total Other Income / (Expense), net	0.53	4.86	1.04	-21	-1.33	2.29	-2.70	-1.70	-1.24	0.54	-1.02
Interest Expense	0.03	-4.11	0.03	0.03	0.03	-3.63	0.03	0.03	0.03	0.03	0.03
Interest & Investment Income	0.56	0.44	0.40	0.91	1.59	1.79	0.96	1.77	2.11	3.02	1.49
Other Income / (Expense), net	0.00	-	0.67	-22	-2.88	-	-3.63	-3.45	-3.32	-2.46	-2.48
Income Tax Expense	0.46	0.50	0.68	-2.15	5.20	0.47	5.64	7.28	7.04	7.67	5.95
Preferred Stock Dividends Declared	0.00	-	0.00	0.23	0.23	-	0.23	0.23	0.23	0.23	0.23
Basic Earnings per Share	$0.55	$0.68	$0.70	($1.41)	$1.83	$1.71	$1.80	$1.98	$1.98	$2.00	$1.80
Weighted Average Basic Shares Outstanding	7.43M	7.44M	14.85M	14.94M	14.97M	14.98M	15.01M	15.02M	15.03M	15.04M	20.15M
Diluted Earnings per Share	$0.55	$0.67	$0.69	($1.41)	$1.82	$1.72	$1.80	$1.97	$1.97	$1.98	$1.79
Weighted Average Diluted Shares Outstanding	7.43M	7.44M	14.85M	14.94M	14.97M	14.98M	15.01M	15.02M	15.03M	15.04M	20.15M
Weighted Average Basic & Diluted Shares Outstanding	7.43M	7.44M	14.85M	14.94M	14.97M	14.98M	15.01M	15.02M	15.03M	15.04M	20.15M

This table details how cash moves in and out of Burke & Herbert Financial Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-151	-27	-5.80	91	154
Net Cash From Operating Activities	55	61	43	86	108
Net Cash From Continuing Operating Activities	55	61	43	86	108
Net Income / (Loss) Continuing Operations	36	44	23	36	117
Consolidated Net Income / (Loss)	36	44	23	36	117
Depreciation Expense	3.21	3.05	2.87	5.87	6.94
Amortization Expense	17	17	15	37	39
Non-Cash Adjustments To Reconcile Net Income	-0.52	-4.94	0.21	39	-9.80
Changes in Operating Assets and Liabilities, net	-0.55	1.67	1.98	-31	-46
Net Cash From Investing Activities	-384	-127	-43	124	137
Net Cash From Continuing Investing Activities	-384	-127	-43	124	137
Purchase of Property, Plant & Equipment	-1.08	-23	-14	-4.57	-12
Acquisitions	-	0.00	0.00	53	0.00
Purchase of Investments	-672	-395	-53	-690	-413
Sale of Property, Plant & Equipment	2.56	8.26	3.38	0.00	0.00
Sale and/or Maturity of Investments	197	432	220	671	261
Other Investing Activities, net	89	-150	-199	95	300
Net Cash From Financing Activities	178	39	-5.14	-119	-91
Net Cash From Continuing Financing Activities	178	39	-5.14	-119	-91
Repayment of Debt	50	68	-130	-27	-74
Payment of Dividends	-15	-16	-16	-29	-34
Issuance of Debt	-	-	-71	93	85
Issuance of Common Equity	0.00	0.00	0.21	3.50	0.71
Other Financing Activities, net	143	-13	212	-159	-69
Cash Interest Paid	1.43	4.32	8.06	17	19

This table details how cash moves in and out of Burke & Herbert Financial Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-39	2.63	9.58	158	80	-156	14	176	-193	157	-220
Net Cash From Operating Activities	9.47	10	7.09	-19	21	77	38	0.04	39	31	27
Net Cash From Continuing Operating Activities	9.47	10	7.09	-19	21	77	38	0.04	39	31	27
Net Income / (Loss) Continuing Operations	4.06	5.08	5.21	-17	28	20	27	30	30	30	27
Consolidated Net Income / (Loss)	4.06	5.08	5.21	-17	28	20	27	30	30	30	27
Depreciation Expense	0.70	0.82	0.82	1.50	1.82	1.74	1.67	1.72	1.75	1.80	1.87
Amortization Expense	3.68	3.64	3.60	6.64	14	12	11	9.50	9.58	9.33	9.13
Non-Cash Adjustments To Reconcile Net Income	2.25	-0.66	-2.31	69	-18	-10	24	14	-7.94	-4.25	-18
Changes in Operating Assets and Liabilities, net	-1.20	1.30	-0.23	-79	-4.87	54	-26	-55	5.94	-6.18	5.79
Net Cash From Investing Activities	-75	6.92	-71	210	64	-79	23	-14	-15	143	-241
Net Cash From Continuing Investing Activities	-75	6.92	-71	210	64	-79	23	-14	-15	143	-241
Purchase of Property, Plant & Equipment	-2.03	-7.86	-1.50	-1.02	-1.75	-0.29	-1.78	-3.43	-3.87	-2.63	-1.87
Acquisitions	-	-	0.00	-	-	53	0.00	-	-	-	-1.30
Purchase of Investments	-27	-11	-78	-436	-52	-124	-79	-152	-107	-75	-323
Sale and/or Maturity of Investments	24	38	39	480	63	90	79	58	55	68	96
Other Investing Activities, net	-70	-16	-29	168	55	-98	24	84	40	153	-10
Net Cash From Financing Activities	26	-14	73	-32	-4.95	-154	-47	190	-217	-17	-5.06
Net Cash From Continuing Financing Activities	26	-14	73	-32	-4.95	-154	-47	190	-217	-17	-5.06
Repayment of Debt	27	80	88	27	32	-46	2.49	49	-35	-22	31
Payment of Dividends	-3.94	-3.94	-3.94	-8.09	-8.15	-8.46	-8.46	-8.48	-8.49	-8.49	-8.50
Issuance of Debt	-	-	-	-	-	-	-65	-	-200	-	75
Issuance of Common Equity	-	0.07	0.87	1.12	0.69	0.82	0.17	0.32	0.17	0.05	0.19
Other Financing Activities, net	3.32	-91	-12	-52	-29	-101	24	-136	26	14	-102
Cash Interest Paid	-1.49	39	0.81	55	-37	-2.19	3.76	-28	5.14	4.81	3.08
Cash Income Taxes Paid	0.17	1.13	0.63	0.15	-	1.20	3.60	1.70	1.25	-	0.03

This table presents Burke & Herbert Financial Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3,563	3,618	7,812	7,921
Total Current Assets	9.12	44	135	53
Cash & Equivalents	9.12	44	135	53
Plant, Property, & Equipment, net	53	61	132	137
Total Noncurrent Assets	3,501	3,512	7,545	7,730
Noncurrent Note & Lease Receivables	-21	-25	-68	-68
Goodwill	-	0.00	33	34
Intangible Assets	-	0.00	57	42
Other Noncurrent Operating Assets	3,522	3,537	7,523	7,722
Total Liabilities & Shareholders' Equity	3,563	3,618	7,812	7,921
Total Liabilities	3,289	3,303	7,082	7,066
Total Current Liabilities	2,920	3,002	6,515	6,404
Short-Term Debt	1,960	2,172	5,135	5,068
Customer Deposits	961	830	1,380	1,336
Total Noncurrent Liabilities	369	301	567	662
Long-Term Debt	-	0.00	112	87
Other Noncurrent Operating Liabilities	369	301	455	575
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	273	315	730	855
Total Preferred & Common Equity	273	315	730	855
Preferred Stock	0.00	0.00	10	10
Total Common Equity	273	315	720	844
Common Stock	16	18	409	414
Retained Earnings	424	427	434	517
Treasury Stock	-	-28	-28	-28
Accumulated Other Comprehensive Income / (Loss)	-139	-103	-96	-59

This table presents Burke & Herbert Financial Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3,585	3,696	7,810	7,865	7,838	8,053	7,889	7,928
Total Current Assets	9.06	9.15	35	45	63	65	55	54
Cash & Equivalents	9.06	9.15	35	45	63	65	55	54
Plant, Property, & Equipment, net	58	62	136	135	132	134	136	137
Total Noncurrent Assets	3,519	3,626	7,640	7,685	7,643	7,854	7,698	7,737
Noncurrent Note & Lease Receivables	-26	-25	-68	-68	-68	-67	-68	-68
Goodwill	-	-	33	33	33	34	34	36
Intangible Assets	-	-	66	62	53	49	45	38
Other Noncurrent Operating Assets	3,545	3,650	7,609	7,659	7,624	7,838	7,686	7,731
Total Liabilities & Shareholders' Equity	3,585	3,696	7,810	7,865	7,838	8,053	7,889	7,928
Total Liabilities	3,314	3,377	7,117	7,127	7,080	7,273	7,067	7,063
Total Current Liabilities	2,986	2,990	6,640	6,601	6,542	6,391	6,412	6,332
Short-Term Debt	2,132	2,167	5,243	5,209	5,159	5,027	5,054	4,965
Customer Deposits	853	823	1,397	1,392	1,382	1,364	1,358	1,367
Total Noncurrent Liabilities	329	387	477	526	538	882	655	731
Long-Term Debt	-	-	109	110	113	115	86	89
Other Noncurrent Operating Liabilities	329	387	368	416	425	767	569	642
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	271	319	693	738	758	780	822	865
Total Preferred & Common Equity	271	319	693	738	758	780	822	865
Preferred Stock	0.00	0.00	10	10	10	10	10	10
Total Common Equity	271	319	683	728	748	770	812	854
Common Stock	18	19	407	408	410	411	412	415
Retained Earnings	427	429	403	423	453	474	495	536
Accumulated Other Comprehensive Income / (Loss)	-146	-101	-100	-76	-88	-88	-68	-69
Other Equity Adjustments	-28	-28	-	-28	-28	-28	-	-28

This table displays calculated financial ratios and metrics derived from Burke & Herbert Financial Services' official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	15,028,524.00
DEI Adjusted Shares Outstanding	-	-	-	-	15,028,524.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	7.75
Growth Metrics	-	-	-	-	-
Profitability Metrics	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	37	37	21	57	121
Return On Investment Capital (ROIC_SIMPLE)	-	1.68%	0.84%	0.95%	2.02%
Earnings before Interest and Taxes (EBIT)	42	52	23	35	137
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	62	72	41	78	183
Valuation Ratios	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-2,187	-197	-3,443	243
Efficiency Ratios	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	2,224	2,442	5,942	5,721
Increase / (Decrease) in Invested Capital	0.00	2,224	218	3,500	-121
Book Value per Share	$0.00	$0.00	$42.37	$48.09	$56.18
Tangible Book Value per Share	$0.00	$0.00	$42.37	$42.07	$51.13
Total Capital	0.00	2,233	2,486	5,977	6,010
Total Debt	0.00	1,960	2,172	5,247	5,155
Total Long-Term Debt	0.00	0.00	0.00	112	87
Net Debt	0.00	1,951	2,127	5,212	4,866
Capital Expenditures (CapEx)	-1.48	15	11	4.57	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-961	-830	-1,380	-1,336
Debt-free Net Working Capital (DFNWC)	0.00	-952	-786	-1,344	-1,047
Net Working Capital (NWC)	0.00	-2,911	-2,957	-6,480	-6,115
Net Nonoperating Expense (NNE)	1.13	-6.60	-1.81	21	4.14
Net Nonoperating Obligations (NNO)	0.00	1,951	2,127	5,212	4,866
Total Depreciation and Amortization (D&A)	20	20	18	43	46
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$3.05	$2.83	$7.76
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	7.44M	14.98M	15.04M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$3.02	$2.82	$7.72
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	7.44M	14.98M	15.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	7.44M	14.98M	15.04M
Normalized Net Operating Profit after Tax (NOPAT)	37	37	21	57	121
Debt Service Ratios	-	-	-	-	-
Payout Ratios	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Burke & Herbert Financial Services' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	15,028,524.00	15,038,857.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	15,028,524.00	15,038,857.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	2.00	1.80
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.59%	0.00%	11.43%	155.99%	228.25%	-39.10%	227.52%	25.40%	1.16%	-	0.82%
EBITDA Growth	-43.77%	12.16%	-17.02%	-215.33%	468.92%	487.17%	346.55%	602.43%	2.72%	-	-3.50%
EBIT Growth	-73.19%	0.00%	-23.22%	-439.15%	684.37%	1,835.88%	478.00%	277.64%	11.70%	-	-0.23%
NOPAT Growth	-71.10%	0.00%	-26.79%	-74.17%	701.45%	1,977.69%	585.64%	2,121.10%	7.77%	-	-4.24%
Net Income Growth	-63.58%	0.00%	-30.73%	-380.39%	581.02%	289.78%	421.89%	276.71%	8.48%	-	0.54%
EPS Growth	-63.09%	0.00%	-31.00%	-276.25%	230.91%	156.72%	160.87%	239.72%	8.24%	-	-0.56%
Operating Cash Flow Growth	0.00%	-18.00%	-35.12%	-262.20%	123.77%	655.66%	431.06%	100.09%	-17.77%	-	-29.60%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	-50.17%	-1,505.31%	-39.92%	103.06%	103.80%	-	103.79%
Invested Capital Growth	0.00%	9.79%	0.00%	0.00%	151.14%	143.34%	140.87%	-2.54%	-1.75%	-	-1.72%
Revenue Q/Q Growth	38.18%	18.91%	-23.74%	64.90%	77.18%	-77.94%	210.29%	3.39%	-2.35%	-	0.04%
EBITDA Q/Q Growth	-18.39%	-35.57%	-14.75%	-186.88%	502.57%	-33.50%	40.38%	5.10%	-0.87%	-	-6.96%
EBIT Q/Q Growth	-32.23%	-76.72%	-20.14%	-317.38%	256.72%	-42.54%	77.66%	11.03%	-1.45%	-	-8.81%
NOPAT Q/Q Growth	-34.38%	-76.38%	-22.38%	-82.67%	1,936.40%	-38.77%	67.71%	6.21%	-0.95%	-	-5.46%
Net Income Q/Q Growth	-32.78%	25.20%	2.64%	-424.62%	263.26%	-28.34%	37.43%	9.91%	0.22%	-	-9.57%
EPS Q/Q Growth	-31.25%	21.82%	2.99%	-304.35%	229.08%	-5.49%	4.65%	9.44%	0.00%	-	-9.60%
Operating Cash Flow Q/Q Growth	-20.67%	7.42%	-30.32%	-373.16%	209.45%	262.77%	-51.03%	-99.89%	95,758.54%	-	-14.35%
Free Cash Flow Firm Q/Q Growth	0.00%	90.92%	-916.56%	-143.31%	40.25%	2.99%	0.63%	105.32%	-25.89%	-	255.30%
Invested Capital Q/Q Growth	0.00%	2.00%	0.00%	142.57%	0.04%	-1.17%	0.43%	-1.85%	0.85%	-	-1.54%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.64%	51.51%	71.22%	94.58%	68.20%	289.05%	100.00%	100.11%	100.36%	-	100.24%
EBITDA Margin	22.04%	11.94%	31.92%	-16.81%	38.20%	115.16%	52.10%	52.97%	53.77%	-	50.10%
Operating Margin	10.51%	2.06%	21.54%	2.86%	27.36%	65.42%	41.72%	44.14%	44.46%	-	40.14%
EBIT Margin	10.51%	2.06%	21.54%	-28.40%	25.12%	65.42%	37.46%	40.23%	40.60%	-	37.24%
Profit (Net Income) Margin	10.70%	11.26%	12.23%	-24.08%	22.19%	72.08%	31.92%	33.94%	34.83%	-	31.98%
Tax Burden Percent	89.73%	91.04%	88.49%	88.71%	84.16%	97.70%	82.82%	80.41%	80.98%	-	82.12%
Interest Burden Percent	113.40%	601.08%	64.18%	95.60%	104.98%	112.76%	102.91%	104.92%	105.95%	-	104.58%
Effective Tax Rate	10.27%	8.96%	11.51%	0.00%	15.84%	2.30%	17.18%	19.59%	19.02%	-	17.88%
Return on Invested Capital (ROIC)	0.00%	0.12%	2.57%	0.14%	1.62%	4.04%	2.65%	2.04%	2.07%	-	1.93%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.33%	2.30%	-0.55%	1.60%	4.10%	2.59%	2.02%	2.05%	-	1.91%
Return on Net Nonoperating Assets (RNNOA)	0.00%	2.27%	15.54%	-4.22%	11.70%	28.79%	17.71%	14.24%	13.62%	-	12.01%
Return on Equity (ROE)	0.00%	2.39%	18.11%	-4.08%	13.32%	32.82%	20.36%	16.28%	15.69%	-	13.94%
Cash Return on Invested Capital (CROIC)	0.00%	-8.44%	-197.56%	-199.31%	-84.90%	-82.15%	-80.73%	4.45%	3.67%	-	3.77%
Operating Return on Assets (OROA)	0.00%	0.09%	1.95%	-1.53%	1.30%	3.03%	2.10%	1.73%	1.77%	-	1.63%
Return on Assets (ROA)	0.00%	0.47%	1.10%	-1.29%	1.15%	3.34%	1.79%	1.46%	1.52%	-	1.40%
Return on Common Equity (ROCE)	0.00%	2.39%	18.11%	-4.01%	13.18%	32.50%	20.17%	16.05%	15.48%	-	13.76%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	6.38%	-0.37%	2.84%	0.00%	7.61%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	3.58	0.84	8.12	1.41	29	18	29	31	31	30	28
NOPAT Margin	9.43%	1.87%	19.06%	2.00%	23.03%	63.92%	34.55%	35.49%	36.00%	-	32.97%
Net Nonoperating Expense Percent (NNEP)	-0.05%	-0.21%	0.27%	0.69%	0.03%	-0.06%	0.06%	0.03%	0.02%	-	0.02%
Return On Investment Capital (ROIC_SIMPLE)	-	0.03%	-	-	-	0.29%	0.49%	0.53%	0.52%	0.50%	0.48%
Cost of Revenue to Revenue	30.36%	48.49%	28.78%	5.42%	31.80%	-189.05%	0.00%	-0.11%	-0.36%	-	-0.24%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	59.13%	49.46%	49.68%	91.71%	40.83%	223.63%	58.28%	55.97%	55.91%	-	60.09%
Earnings before Interest and Taxes (EBIT)	3.99	0.93	9.18	-20	31	18	32	35	35	35	32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	8.36	5.39	14	-12	48	32	44	47	46	46	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	1.42	1.28	1.10	1.25	1.29	1.12	1.16	1.14	-	1.10
Price to Tangible Book Value (P/TBV)	0.00	1.42	1.28	1.28	1.44	1.47	1.27	1.31	1.27	-	1.20
Price to Revenue (P/Rev)	0.00	3.00	2.45	3.58	3.08	3.49	2.59	2.62	2.70	-	2.71
Price to Earnings (P/E)	0.00	19.67	20.06	0.00	44.37	26.42	14.80	8.65	8.75	-	8.04
Dividend Yield	4.76%	3.53%	3.86%	4.19%	3.48%	3.46%	3.85%	3.65%	3.57%	-	3.53%
Earnings Yield	0.00%	5.08%	4.99%	0.00%	2.25%	3.79%	6.76%	11.56%	11.43%	-	12.44%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.05	1.04	1.01	1.03	1.03	1.02	1.02	1.02	-	1.01
Enterprise Value to Revenue (EV/Rev)	0.00	17.31	15.38	28.98	20.91	23.22	18.71	17.50	17.57	-	17.21
Enterprise Value to EBITDA (EV/EBITDA)	0.00	63.25	49.81	118.86	66.54	78.98	53.97	35.57	35.53	-	32.71
Enterprise Value to EBIT (EV/EBIT)	0.00	111.60	75.67	204.32	103.58	174.01	98.19	51.09	49.86	-	43.37
Enterprise Value to NOPAT (EV/NOPAT)	0.00	123.25	84.81	291.89	124.42	108.66	74.78	53.89	53.18	-	49.47
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	60.54	66.38	824.60	324.54	71.65	52.09	36.85	39.14	-	61.45
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	22.68	27.54	-	26.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	7.87	6.90	6.79	7.72	7.21	7.19	6.96	6.59	6.25	-	5.85
Long-Term Debt to Equity	0.00	0.00	0.00	0.16	0.15	0.15	0.15	0.15	0.10	-	0.10
Financial Leverage	7.84	6.93	6.76	7.67	7.33	7.02	6.84	7.06	6.64	-	6.29
Leverage Ratio	13.24	12.21	11.58	11.27	11.35	10.94	10.71	10.77	10.10	-	9.72
Compound Leverage Factor	15.01	73.38	7.43	10.77	11.91	12.33	11.02	11.30	10.70	-	10.16
Debt to Total Capital	88.73%	87.34%	87.16%	88.53%	87.82%	87.78%	87.43%	86.83%	86.21%	-	85.39%
Short-Term Debt to Total Capital	88.73%	87.34%	87.16%	86.73%	85.99%	85.91%	85.55%	84.89%	84.76%	-	83.89%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	1.80%	1.82%	1.87%	1.88%	1.94%	1.44%	-	1.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.17%	0.17%	0.17%	0.17%	0.18%	0.17%	-	0.18%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	11.27%	12.66%	12.84%	11.29%	12.01%	12.04%	12.40%	13.00%	13.62%	-	14.43%
Debt to EBITDA	118.67	53.38	42.05	104.66	57.12	67.41	46.96	30.56	30.33	-	27.80
Net Debt to EBITDA	118.16	52.28	41.88	103.98	56.64	66.96	46.39	30.18	30.00	-	27.50
Long-Term Debt to EBITDA	0.00	0.00	0.00	2.13	1.19	1.44	1.01	0.68	0.51	-	0.49
Debt to NOPAT	0.00	104.01	71.61	257.03	106.81	92.74	65.06	46.31	45.39	-	42.04
Net Debt to NOPAT	0.00	101.87	71.30	255.35	105.91	92.12	64.28	45.73	44.91	-	41.59
Long-Term Debt to NOPAT	0.00	0.00	0.00	5.24	2.22	1.98	1.40	1.03	0.76	-	0.74
Altman Z-Score	0.00	-0.69	-0.68	-0.86	-0.80	-0.80	-0.79	-0.73	-0.74	-	-0.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	1.50%	1.03%	1.00%	0.97%	1.41%	1.33%	-	1.28%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.01	0.00	0.01	0.01	0.01	0.01	0.01	0.01	-	0.01
Quick Ratio	0.00	0.01	0.00	0.01	0.01	0.01	0.01	0.01	0.01	-	0.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,390	-217	-2,469	-6,008	-3,590	-3,482	-3,460	184	136	151	131
Operating Cash Flow to CapEx	467.24%	129.52%	471.66%	-1,898.43%	1,211.03%	26,150.00%	2,117.38%	1.20%	1,014.51%	-	1,414.19%
Free Cash Flow to Firm to Interest Expense	-85,371.86	0.00	-670.48	-214,580.40	-128,203.06	0.00	-128,166.63	7,078.13	5,245.87	-	3,853.18
Operating Cash Flow to Interest Expense	338.25	0.00	1.92	-691.57	756.89	0.00	1,394.33	1.58	1,511.62	-	779.47
Operating Cash Flow Less CapEx to Interest Expense	265.86	0.00	1.52	-728.00	694.39	0.00	1,328.48	-130.19	1,362.62	-	724.35
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.04	0.09	0.05	0.05	0.05	0.06	0.04	0.04	-	0.04
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Fixed Asset Turnover	0.00	2.60	0.00	0.00	3.08	2.74	3.34	2.54	2.53	-	2.57
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,394	2,442	2,478	6,010	6,012	5,942	5,967	5,857	5,907	5,721	5,865
Invested Capital Turnover	0.00	0.06	0.13	0.07	0.07	0.06	0.08	0.06	0.06	-	0.06
Increase / (Decrease) in Invested Capital	2,394	218	2,478	6,010	3,618	3,500	3,490	-153	-105	-121	-103
Enterprise Value (EV)	0.00	2,573	2,567	6,077	6,196	6,147	6,061	5,984	6,022	-	5,947
Market Capitalization	0.00	446	409	750	911	925	841	896	927	-	937
Book Value per Share	$36.46	$42.37	$42.92	$45.98	$48.69	$48.09	$49.90	$51.29	$54.04	$56.18	$56.79
Tangible Book Value per Share	$36.46	$42.37	$42.92	$39.33	$42.37	$42.07	$44.17	$45.74	$48.74	$51.13	$51.85
Total Capital	2,403	2,486	2,487	6,045	6,057	5,977	6,031	5,922	5,962	6,010	5,919
Total Debt	2,132	2,172	2,167	5,352	5,319	5,247	5,273	5,142	5,140	5,155	5,054
Total Long-Term Debt	0.00	0.00	0.00	109	110	112	113	115	86	87	89
Net Debt	2,123	2,127	2,158	5,317	5,274	5,212	5,209	5,077	5,085	4,866	5,000
Capital Expenditures (CapEx)	2.03	7.86	1.50	1.02	1.75	0.29	1.78	3.43	3.87	2.63	1.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-853	-830	-823	-1,397	-1,392	-1,380	-1,382	-1,364	-1,358	-1,336	-1,367
Debt-free Net Working Capital (DFNWC)	-844	-786	-814	-1,362	-1,347	-1,344	-1,319	-1,298	-1,303	-1,047	-1,313
Net Working Capital (NWC)	-2,977	-2,957	-2,981	-6,604	-6,556	-6,480	-6,479	-6,326	-6,357	-6,115	-6,278
Net Nonoperating Expense (NNE)	-0.48	-4.23	2.91	18	1.04	-2.24	2.24	1.37	1.01	-0.43	0.84
Net Nonoperating Obligations (NNO)	2,123	2,127	2,158	5,317	5,274	5,212	5,209	5,077	5,085	4,866	5,000
Total Depreciation and Amortization (D&A)	4.37	4.46	4.42	8.14	16	14	12	11	11	11	11
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-558.42%	-492.93%	-666.13%	-469.87%	-521.14%	-426.69%	-398.92%	-396.20%	-	-395.67%
Debt-free Net Working Capital to Revenue	0.00%	-528.50%	-487.44%	-649.40%	-454.71%	-507.71%	-407.16%	-379.85%	-380.09%	-	-380.06%
Net Working Capital to Revenue	0.00%	-1,988.96%	-1,785.92%	-3,149.14%	-2,212.75%	-2,447.07%	-1,999.64%	-1,850.57%	-1,854.29%	-	-1,817.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.55	$0.68	$0.70	($1.41)	$1.83	$1.71	$1.80	$1.98	$1.98	$2.00	$1.80
Adjusted Weighted Average Basic Shares Outstanding	7.43M	7.44M	14.85M	14.94M	14.97M	14.98M	15.01M	15.02M	15.03M	15.04M	20.15M
Adjusted Diluted Earnings per Share	$0.55	$0.67	$0.69	($1.41)	$1.82	$1.72	$1.80	$1.97	$1.97	$1.98	$1.79
Adjusted Weighted Average Diluted Shares Outstanding	7.43M	7.44M	14.85M	14.94M	14.97M	14.98M	15.01M	15.02M	15.03M	15.04M	20.15M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	7.43M	7.44M	14.85M	14.94M	14.97M	14.98M	15.01M	15.02M	15.03M	15.04M	20.15M
Normalized Net Operating Profit after Tax (NOPAT)	3.58	0.84	8.12	1.41	29	18	29	31	31	30	28
Normalized NOPAT Margin	9.43%	1.87%	19.06%	2.00%	23.03%	63.92%	34.55%	35.49%	36.00%	-	32.97%
Pre Tax Income Margin	11.92%	12.37%	13.83%	-27.15%	26.37%	73.77%	38.55%	42.21%	43.01%	-	38.95%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	142.36	0.00	2.49	-712.46	1,116.61	0.00	1,182.11	1,362.96	1,343.15	-	936.59
NOPAT to Interest Expense	127.74	0.00	2.20	50.28	1,023.80	0.00	1,090.29	1,202.55	1,191.18	-	829.09
EBIT Less CapEx to Interest Expense	69.96	0.00	2.08	-748.89	1,054.11	0.00	1,116.26	1,231.19	1,194.15	-	881.47
NOPAT Less CapEx to Interest Expense	55.35	0.00	1.80	13.85	961.30	0.00	1,024.44	1,070.78	1,042.18	-	773.97
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	69.39%	77.28%	-773.73%	114.88%	80.19%	57.47%	32.10%	31.71%	-	28.91%
Augmented Payout Ratio	0.00%	69.39%	77.28%	-773.73%	114.88%	80.19%	57.47%	32.10%	31.71%	-	28.91%

Financials Breakdown Chart

Key Financial Trends

Burke & Herbert Financial Services (NASDAQ: BHRB) delivered another profitable quarter in Q1 2026, but the bigger story is that the company’s balance sheet has expanded dramatically over the last year, and cash flows have become much more volatile. For retail investors, that means the bank is still earning money, but the quality and consistency of those results deserve a closer look.

In Q1 2026, BHRB reported net income of $27.3 million on total revenue of $85.5 million, with diluted EPS of $1.79. That was down slightly from Q4 2025 net income of $30.2 million and EPS of $1.98, but it remained well above the weaker quarters seen earlier in the year.

Profitability remains strong: Q1 2026 net income of $27.3 million shows the company is still generating solid earnings.
Revenue was stable quarter over quarter: Total revenue was $85.5 million in Q1 2026, essentially unchanged from $85.5 million in Q4 2025.
Operating income held up well: Q1 2026 operating income of $34.3 million was only modestly below Q4 2025’s $37.4 million.
Book equity is much larger than a year ago: Total equity rose to $864.5 million in Q1 2026 from $758.0 million in Q1 2025.
Customer deposits increased year over year: Deposits were $1.37 billion in Q1 2026 versus $1.38 billion in Q1 2025, showing relative stability in funding.
Earnings have been fairly steady in recent quarters: Net income ranged from about $27 million to $30 million across the last four quarters, excluding the earlier 2024 volatility.
The company is carrying a very large balance sheet: Total assets were $7.93 billion in Q1 2026, up sharply from $3.70 billion in Q1 2024, likely reflecting major growth or merger-related changes.
Non-interest items are still meaningful: “Other operating expenses / income” and “other income / expense” remain large drivers of quarterly results, which can make earnings less predictable.
Operating cash flow weakened materially in Q1 2026: Net cash from operations was $26.5 million, down from $30.9 million in Q4 2025 and $39.3 million in Q3 2025.
Cash and equivalents fell sharply: Cash declined to $53.9 million in Q1 2026 from $65.2 million in Q2 2025 and $63.3 million in Q1 2025.

The most important red flag in the latest quarter was cash flow. Despite solid earnings, net change in cash and equivalents was a loss of $219.5 million in Q1 2026, driven largely by investing activity and a small but still negative financing contribution. That’s not necessarily alarming for a bank on its own, but it does show the quarter was capital-intensive and not especially cash-generative after investment activity.

Looking back over the last four years, BHRB has shown a pattern of good headline profitability but uneven cash flow and balance-sheet movement. Earnings improved meaningfully from 2024 into 2025, and Q1 2026 continued that stronger earnings profile. However, the company’s rapid asset growth, large debt balances, and recurring swings in non-operating items suggest investors should focus not just on EPS, but also on funding quality, deposit trends, and cash generation.

Bottom line: Burke & Herbert Financial Services currently looks like a profitable bank with improved earnings power, but the balance sheet is more complicated than it was two years ago. The stock’s outlook will likely depend on whether management can keep earnings steady while improving cash flow consistency and maintaining deposit stability.

06/10/26 04:12 PM ETAI Generated. May Contain Errors.

Burke & Herbert Financial Services Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Burke & Herbert Financial Services' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Burke & Herbert Financial Services' net income appears to be on an upward trend, with a most recent value of $117.31 million in 2025, rising from $36.17 million in 2021. The previous period was $35.71 million in 2024. Find out what analysts predict for Burke & Herbert Financial Services in the coming months.

Burke & Herbert Financial Services' total operating income in 2025 was $150.05 million, based on the following breakdown:

Total Gross Profit: $345.61 million
Total Operating Expenses: $195.56 million

Over the last 4 years, Burke & Herbert Financial Services' total revenue changed from $117.87 million in 2021 to $344.81 million in 2025, a change of 192.5%.

Burke & Herbert Financial Services' total liabilities were at $7.07 billion at the end of 2025, a 0.2% decrease from 2024, and a 114.8% increase since 2022.

In the past 3 years, Burke & Herbert Financial Services' cash and equivalents has ranged from $9.12 million in 2022 to $135.31 million in 2024, and is currently $53.50 million as of their latest financial filing in 2025.

Over the last 4 years, Burke & Herbert Financial Services' book value per share changed from 0.00 in 2021 to 56.18 in 2025, a change of 5,617.6%.

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Financial statements for NASDAQ:BHRB last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Burke & Herbert Financial Services (BHRB) Financials

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Burke & Herbert Financial Services (BHRB) Financials

Annual Income Statements for Burke & Herbert Financial Services

Quarterly Income Statements for Burke & Herbert Financial Services

Annual Cash Flow Statements for Burke & Herbert Financial Services

Quarterly Cash Flow Statements for Burke & Herbert Financial Services

Annual Balance Sheets for Burke & Herbert Financial Services

Quarterly Balance Sheets for Burke & Herbert Financial Services

Annual Metrics And Ratios for Burke & Herbert Financial Services

Quarterly Metrics And Ratios for Burke & Herbert Financial Services

Financials Breakdown Chart

Key Financial Trends

Burke & Herbert Financial Services Financials - Frequently Asked Questions

When does Burke & Herbert Financial Services' financial year end?

How has Burke & Herbert Financial Services' net income changed over the last 4 years?

What is Burke & Herbert Financial Services' operating income?

How has Burke & Herbert Financial Services' revenue changed over the last 4 years?

How much debt does Burke & Herbert Financial Services have?

How much cash does Burke & Herbert Financial Services have?

How has Burke & Herbert Financial Services' book value per share changed over the last 4 years?

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