Burke & Herbert Financial Services Corp.
BHRB Nasdaq National Commercial Banks Financials FY2021–FY2025
Revenue
Total sales reported in the income statement.
$342M
30.6%
vs prior year
Efficiency ratio
Noninterest expense as a share of revenue. Lower is better for banks.
57.2%
18.3 pts
Net income
Profit after all expenses, interest and tax.
$117M
228.5%
Return on equity
Net income as a share of average shareholders' equity.
14.8%
8.0 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $6.24 EPS (TTM)
What Burke & Herbert Financial Services Corp. does
No business description yet.
- Legal name
- Burke & Herbert Financial Services Corp.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 27, 2026
- Accession · CIK
- 0001964333-26-000016
0001964333
Revenue and margins
Burke & Herbert Financial Services Corp. had $342M of revenue in fiscal 2025, up 30.6% on the year before.
FY21
Revenue $114M
FY22
Revenue $121M
FY23
Revenue $112M
FY24
Revenue $262M
FY25
Revenue $342M
Q3 '23
Revenue $27.2M
Q4 '23
Revenue $27.1M
Q1 '24
Revenue $26.4M
Q2 '24
Revenue $69.3M
Q3 '24
Revenue $83.8M
Q4 '24
Revenue $82.5M
Q1 '25
Revenue $83.0M
Q2 '25
Revenue $87.1M
Q3 '25
Revenue $85.4M
Q4 '25
Revenue $86.5M
Q1 '26
Revenue $84.7M
Q2 '26
Revenue $107M
FY21
Net interest share 84.8%
Efficiency ratio 65.4%
FY22
Net interest share 85.9%
Efficiency ratio 62.9%
FY23
Net interest share 84.5%
Efficiency ratio 77.4%
FY24
Net interest share 86.5%
Efficiency ratio 75.5%
FY25
Net interest share 86.5%
Efficiency ratio 57.2%
Net interest share
Efficiency ratio
Q3 '23
Net interest share 84.2%
Efficiency ratio 82.5%
Q4 '23
Net interest share 84.6%
Efficiency ratio 82.2%
Q1 '24
Net interest share 83.9%
Efficiency ratio 80.2%
Q2 '24
Net interest share 86.3%
Efficiency ratio 93.0%
Q3 '24
Net interest share 87.3%
Efficiency ratio 60.7%
Q4 '24
Net interest share 86.8%
Efficiency ratio 74.4%
Q1 '25
Net interest share 87.9%
Efficiency ratio 59.8%
Q2 '25
Net interest share 85.2%
Efficiency ratio 56.6%
Q3 '25
Net interest share 86.4%
Efficiency ratio 56.3%
Q4 '25
Net interest share 86.6%
Efficiency ratio 56.0%
Q1 '26
Net interest share 84.8%
Efficiency ratio 60.7%
Q2 '26
Net interest share 87.0%
Efficiency ratio 87.5%
Net interest share
Efficiency ratio
Net income and earnings per share
From fiscal 2021 to 2025, diluted EPS grew 12.2% a year. Loss periods are shown in red.
FY21
Net income $36.2M
FY22
Net income $44.0M
FY23
Net income $22.7M
FY24
Net income $35.7M
FY25
Net income $117M
Q3 '23
Net income $4.1M
Q4 '23
Net income $5.1M
Q1 '24
Net income $5.2M
Q2 '24
Net income −$16.9M
Q3 '24
Net income $27.6M
Q4 '24
Net income $19.8M
Q1 '25
Net income $27.2M
Q2 '25
Net income $29.9M
Q3 '25
Net income $30.0M
Q4 '25
Net income $30.2M
Q1 '26
Net income $27.3M
Q2 '26
Net income $9.5M
FY21
Diluted EPS $4.87
FY22
Diluted EPS $5.89
FY23
Diluted EPS $3.02
FY24
Diluted EPS $2.82
FY25
Diluted EPS $7.72
Q3 '23
Diluted EPS $0.55
Q4 '23
Diluted EPS $0.67
Q1 '24
Diluted EPS $0.69
Q2 '24
Diluted EPS −$1.41
Q3 '24
Diluted EPS $1.82
Q4 '24
Diluted EPS $1.72
Q1 '25
Diluted EPS $1.80
Q2 '25
Diluted EPS $1.97
Q3 '25
Diluted EPS $1.97
Q4 '25
Diluted EPS $1.98
Q1 '26
Diluted EPS $1.79
Q2 '26
Diluted EPS $0.50
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
FY21
ROE 9.3%
ROTE 9.3%
Efficiency ratio 65.4%
FY22
ROE 13.3%
ROTE 16.1%
Efficiency ratio 62.9%
FY23
ROE 7.7%
ROTE 7.2%
Efficiency ratio 77.4%
FY24
ROE 6.8%
ROTE 5.5%
Efficiency ratio 75.5%
FY25
ROE 14.8%
ROTE 14.9%
Efficiency ratio 57.2%
ROE
ROTE
Efficiency ratio
Dividends, buybacks and share count
Burke & Herbert Financial Services Corp. returned $33.9M to shareholders in fiscal 2025, 35% of free cash flow. The diluted share count rose 21.2%.
FY21
Dividends $14.9M
Buybacks —
FY22
Dividends $15.7M
Buybacks —
FY23
Dividends $15.7M
Buybacks —
FY24
Dividends $28.6M
Buybacks —
FY25
Dividends $33.9M
Buybacks —
Dividends
Buybacks
Q3 '23
Dividends $3.9M
Buybacks —
Q4 '23
Dividends $3.9M
Buybacks —
Q1 '24
Dividends $3.9M
Buybacks —
Q2 '24
Dividends $8.1M
Buybacks —
Q3 '24
Dividends $8.1M
Buybacks —
Q4 '24
Dividends $8.5M
Buybacks —
Q1 '25
Dividends $8.5M
Buybacks —
Q2 '25
Dividends $8.5M
Buybacks —
Q3 '25
Dividends $8.5M
Buybacks —
Q4 '25
Dividends $8.5M
Buybacks —
Q1 '26
Dividends $8.5M
Buybacks —
Q2 '26
Dividends $11.3M
Buybacks —
Dividends
Buybacks
FY21
Diluted shares 0.01B
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.01B
FY24
Diluted shares 0.01B
FY25
Diluted shares 0.02B
Balance sheet
Loans, deposits and capital at each fiscal year end.
FY21
Loans —
Deposits —
FY22
Loans $1.9B
Deposits $2.9B
FY23
Loans $2.1B
Deposits $3.0B
FY24
Loans $5.6B
Deposits $6.5B
FY25
Loans $5.3B
Deposits $6.4B
Loans
Deposits
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | — | $1.9B | $2.1B | $5.6B | $5.3B |
| Deposits | — | $2.9B | $3.0B | $6.5B | $6.4B |
| Loans / deposits | — | 63.9% | 68.7% | 86.0% | 83.1% |
| Total assets | — | $3.6B | $3.6B | $7.8B | $7.9B |
| Shareholders' equity | $390M | $273M | $315M | $730M | $855M |
| Goodwill | $0.0M | $0.0M | $0.0M | $32.8M | $34.1M |
| Intangible assets | — | — | $0.0M | $57.3M | $41.7M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
5 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $114M | $121M | $112M | $262M | $342M |
| Net interest income | $96.6M | $104M | $94.4M | $227M | $296M |
| Noninterest income | $17.3M | $17.1M | $17.3M | $35.3M | $46.1M |
| Noninterest expense | $74.4M | $75.9M | $86.4M | $198M | $196M |
| Interest expense | $4.2M | $8.9M | $53.1M | — | — |
| Pretax income | $40.4M | $52.3M | $25.1M | $39.9M | $145M |
| Income tax | $4.3M | $8.3M | $2.4M | $4.2M | $27.6M |
| Net income | $36.2M | $44.0M | $22.7M | $35.7M | $117M |
| Net income to common | — | $44.0M | $22.7M | $35.0M | $116M |
| Diluted EPS | $4.87 | $5.89 | $3.02 | $2.82 | $7.72 |
| Diluted shares | 0.01B | 0.01B | 0.01B | 0.01B | 0.02B |
| Cash flow | |||||
| Cash from operations | $55.0M | $61.1M | $42.5M | $85.8M | $108M |
| Capital expenditure | $1.1M | $23.1M | $14.2M | $4.6M | $11.7M |
| Free cash flow | $53.9M | $38.0M | $28.3M | $81.2M | $96.2M |
| Depreciation and amortization | $3.2M | $3.1M | $2.9M | $5.9M | $6.9M |
| Stock-based compensation | $0.3M | $2.0M | $2.5M | $2.9M | $4.8M |
| Acquisitions | — | $0.0M | $0.0M | −$52.6M | $0.0M |
| Dividends paid | $14.9M | $15.7M | $15.7M | $28.6M | $33.9M |
| Dividends and buybacks | $14.9M | $15.7M | $15.7M | $28.6M | $33.9M |
| Balance sheet | |||||
| Cash and short-term investments | $77.4M | $50.3M | $44.5M | $135M | $289M |
| Total debt | — | — | $272M | $365M | $450M |
| Finance lease liabilities | — | $2.7M | $3.8M | $3.6M | $4.2M |
| Loans, net | — | $1.9B | $2.1B | $5.6B | $5.3B |
| Deposits | — | $2.9B | $3.0B | $6.5B | $6.4B |
| Property and equipment, net | — | $53.2M | $61.1M | $132M | $137M |
| Goodwill | $0.0M | $0.0M | $0.0M | $32.8M | $34.1M |
| Intangible assets | — | — | $0.0M | $57.3M | $41.7M |
| Total assets | — | $3.6B | $3.6B | $7.8B | $7.9B |
| Total liabilities | — | $3.3B | $3.3B | $7.1B | $7.1B |
| Preferred stock | — | $0.0M | $0.0M | $10.4M | $10.4M |
| Shareholders' equity | $390M | $273M | $315M | $730M | $855M |
| Margins | |||||
| Net margin | 31.8% | 36.4% | 20.3% | 13.6% | 34.3% |
| FCF margin | 47.3% | 31.4% | 25.3% | 31.0% | 28.1% |
| Net interest share of revenue | 84.8% | 85.9% | 84.5% | 86.5% | 86.5% |
| Efficiency ratio | 65.4% | 62.9% | 77.4% | 75.5% | 57.2% |
| Returns | |||||
| Return on equity | 9.3% | 13.3% | 7.7% | 6.8% | 14.8% |
| Return on assets | — | 1.2% | 0.6% | 0.6% | 1.5% |
| Return on tangible equity | 9.3% | 16.1% | 7.2% | 5.5% | 14.9% |
| Growth | |||||
| Revenue growth | — | 6.1% | −7.5% | 134.5% | 30.6% |
| Net income growth | — | 21.7% | −48.4% | 57.4% | 228.5% |
| EPS growth | — | 20.9% | −48.7% | −6.6% | 173.8% |
| FCF growth | — | −29.5% | −25.6% | 187.4% | 18.5% |
| Share count change | — | 0.5% | 0.5% | 65.7% | 21.2% |
| Financial health | |||||
| Debt / equity | — | — | 0.9x | 0.5x | 0.5x |
| Loans / deposits | — | 63.9% | 68.7% | 86.0% | 83.1% |
| Capital allocation | |||||
| Capex / revenue | 1.0% | 19.1% | 12.8% | 1.7% | 3.4% |
| Stock comp / revenue | 0.2% | 1.7% | 2.2% | 1.1% | 1.4% |
| Payouts / FCF | 27.6% | 41.4% | 55.7% | 35.3% | 35.2% |
| Quality scores | |||||
| Piotroski F-score | — | — | — | 5.0 | 4.0 |
| Accruals ratio | — | −0.5% | −0.6% | −0.9% | 0.1% |
Source: SEC EDGAR XBRL filings (CIK 0001964333). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.