A Business at a Glance
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Table of Contents Part I Burke & Herbert Financial Services Corp. was organized as a Virginia corporation in 2022 to serve as the holding company for Burke & Herbert Bank & Trust Company. The Company became a bank holding company when it commenced operations on October 1, 2022, following a reorganization transaction in which it acquired control of the Bank under the Bank Holding Company Act of 1956 (“BHCA”). This transaction was treated as an internal reorganization as all shareholders of the Bank became shareholders of the Company. The Company has no material operations other than owning the Bank. In September 2023, the Company elected to become a financial holding company under the BHCA.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 342M | 342M | 262M | 112M | 121M | 114M |
| Net Income | 116M | 116M | 35M | 23M | 44M | 36M |
| EPS | $7.72 | $7.72 | $2.82 | $3.02 | $5.89 | $4.87 |
| Free Cash Flow | 96M | 96M | 81M | 28M | 38M | 54M |
| ROIC | 8.9% | 0.6% | 0.4% | 0.5% | 1.0% | 0.8% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.53 | 0.53 | 0.50 | 0.86 | 0.02 | -1.01 |
| Dividends/Share | $2.25 | $2.25 | $2.31 | $2.10 | $2.12 | $2.00 |
| Operating Income | 6.9M | 6.9M | 3.8M | 3.2M | 2.7M | 3.4M |
| Operating Margin | 2.0% | 2.0% | 1.5% | 2.9% | 2.3% | 3.0% |
| ROE | 13.6% | 14.7% | 4.8% | 7.2% | 13.3% | 9.3% |
| Shares Outstanding | 15M | 15M | 12M | 8M | 7M | 7M |
| Metric | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 114M | 121M | 112M | 262M | 342M | 342M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 74M | 76M | 86M | 198M | 196M | 196M |
| EBIT | 3.4M | 2.7M | 3.2M | 3.8M | 6.9M | 6.9M |
| Op. Margin | 3.0% | 2.3% | 2.9% | 1.5% | 2.0% | 2.0% |
| Net Income | 36M | 44M | 23M | 35M | 116M | 116M |
| Net Margin | 31.8% | 36.4% | 20.3% | 13.4% | 34.0% | 34.0% |
| Non-Recurring | 1.1M | 4.5M | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 0.8% | 1.0% | 0.5% | 0.4% | 0.6% | 8.9% |
| ROE | 9.3% | 13.3% | 7.2% | 4.8% | 14.7% | 13.6% |
| ROA | N/A | 2.5% | 0.6% | 0.4% | 1.5% | 1.5% |
| Cash Flow | ||||||
| Op. Cash Flow | 55M | 61M | 43M | 86M | 108M | 108M |
| Free Cash Flow | 54M | 38M | 28M | 81M | 96M | 96M |
| Owner Earnings | 51M | 56M | 37M | 77M | 96M | 96M |
| CapEx | 1.1M | 23M | 14M | 4.6M | 12M | 12M |
| Maint. CapEx | 3.2M | 3.1M | 2.9M | 5.9M | 6.9M | 6.9M |
| Growth CapEx | 0 | 20M | 11M | 0 | 4.8M | 4.8M |
| D&A | 3.2M | 3.1M | 2.9M | 5.9M | 6.9M | 6.9M |
| CapEx/OCF | 2.0% | 37.8% | 33.5% | 5.3% | 10.8% | 10.8% |
| Capital Allocation | ||||||
| Dividends Paid | 15M | 16M | 16M | 29M | 34M | 34M |
| Dividend Yield | 4.7% | 4.2% | 3.7% | 4.2% | 3.8% | 3.4% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 283K | 2.0M | 2.5M | 2.9M | 4.8M | 4.8M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | N/A | -45M | 219M | 194M | 107M | 161M |
| Cash & Equiv. | 77M | 50M | 44M | 135M | 289M | 289M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | 450M |
| Debt/Equity | -1.01 | 0.02 | 0.86 | 0.50 | 0.53 | 0.53 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | 0.1 |
| Equity | 390M | 273M | 315M | 730M | 855M | 855M |
| Total Assets | -2.6M | 3.6B | 3.6B | 7.8B | 7.9B | 7.9B |
| Total Liabilities | -392M | 3.3B | 3.3B | 7.1B | 7.1B | 7.1B |
| Intangibles | N/A | N/A | 0 | 90M | 76M | 76M |
| Retained Earnings | N/A | 424M | 427M | 434M | 517M | 517M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | ||||||
| EPS | 4.87 | 5.89 | 3.02 | 2.82 | 7.72 | 7.72 |
| Owner EPS | 6.93 | 7.49 | 4.95 | 6.20 | 6.38 | 6.38 |
| Book Value | 52.47 | 36.59 | 41.89 | 58.77 | 56.68 | 56.68 |
| Cash Flow/Share | 7.40 | 8.17 | 5.66 | 6.91 | 7.16 | 8.18 |
| Dividends/Share | 2.00 | 2.12 | 2.10 | 2.31 | 2.25 | 2.25 |
| Shares Out. | 7.4M | 7.5M | 7.5M | 12.4M | 15.1M | 15.1M |
| Valuation | ||||||
| P/E Ratio | 9.7 | 10.7 | 19.9 | 21.2 | 8.1 | 8.5 |
| P/FCF | 6.5 | 12.4 | 16.0 | 9.1 | 9.8 | 10.3 |
| EV/EBIT | N/A | 156.0 | 209.8 | 243.9 | 151.9 | 166.9 |
| Price/Book | 0.9 | 1.7 | 1.4 | 1.0 | 1.1 | 1.2 |
| Price/Sales | 2.8 | 3.1 | 3.8 | 2.6 | 2.6 | 2.9 |
| FCF Yield | 15.4% | 8.1% | 6.3% | 10.9% | 10.2% | 9.7% |
| Market Cap | 350M | 470M | 452M | 742M | 944M | 994M |
| Avg. Price | 42.97 | 49.69 | 57.11 | 55.11 | 58.74 | 65.89 |
| Year-End Price | 47.14 | 62.85 | 60.15 | 59.73 | 62.57 | 65.89 |
Burke & Herbert Financial Services Corp. passes 2 of 9 quality checks, indicating weak fundamentals.
Burke & Herbert Financial Services Corp. trades at 8.5x trailing earnings, compared to its 15-year median P/E of 10.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 10.3x vs a median of 9.8x. The company's 5-year average ROIC is 0.7%. Total shareholder yield (dividends) is 3.4%. At current prices, the estimated annualized return to fair value is -12.5%.
Burke & Herbert Financial Services Corp. (BHRB) has a current P/E ratio of 8.5, compared to its historical median P/E of 10.7. The stock is currently considered Fair based on its historical valuation range.
Burke & Herbert Financial Services Corp. (BHRB) has a 5-year average return on invested capital (ROIC) of 0.7%. This is below average and may indicate limited pricing power.
Burke & Herbert Financial Services Corp. (BHRB) has a market capitalization of $994M. It is classified as a small-cap stock.
Yes, Burke & Herbert Financial Services Corp. (BHRB) pays a dividend with a trailing twelve-month yield of 3.41%.
Based on historical P/E analysis, Burke & Herbert Financial Services Corp. (BHRB) appears fair. The current P/E of 8.5 is 20% below its historical median of 10.7. The estimated fair value CAGR (P/E method) is -5.7%.
Burke & Herbert Financial Services Corp. (BHRB) operates in the National Commercial Banks industry, within the Financials sector.
Burke & Herbert Financial Services Corp. (BHRB) reported annual revenue of $342 million in its most recent fiscal year, based on SEC EDGAR filings.
Burke & Herbert Financial Services Corp. (BHRB) has a net profit margin of 34.0%. This is a strong margin indicating high profitability.
Burke & Herbert Financial Services Corp. (BHRB) generated $96 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Burke & Herbert Financial Services Corp. (BHRB) has a debt-to-equity ratio of 0.53. This indicates moderate leverage.
Burke & Herbert Financial Services Corp. (BHRB) reported earnings per share (EPS) of $7.72 in its most recent fiscal year.
Burke & Herbert Financial Services Corp. (BHRB) has a return on equity (ROE) of 14.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 5 years of financial data for Burke & Herbert Financial Services Corp. (BHRB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Burke & Herbert Financial Services Corp. (BHRB) has a book value per share of $56.68, based on its most recent annual SEC filing.