|GABC Overview
GABC

GERMAN AMERICAN BANCORP, INC.

Financials • CIK: 0000714395

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Market Cap
$1.37B
P/E (TTM)
13.7x
Rev Growth (TTM)
+76.5%
Net Margin (TTM)
22.2%
FCF Yield (TTM)
10.3%
FCF Margin (TTM)
31.2%

LATEST EARNINGS

Q4 FY2025
about 1 month ago
View source
Revenue
N/A
Net Income
$35.68M
+53.7%
EPS
$0.95
+21.8%
  • Record quarterly earnings of $0.95 per share ($0.96 as adjusted).
  • Annual net income increased 8% year-over-year to $3.06 per share ($3.52 as adjusted, up 24%).
  • Robust net interest margin of 4.13% for the quarter, a 7 basis point increase from the prior quarter.
  • Declared a 7% cash dividend increase, marking the 14th consecutive year of dividend increases.

Cash Flow Health

Free Cash Flow8/8 positive
TTM$141M
Q3 '25
$50M+92%
Q2 '25
$26M-29%
FCF Margin
TTM31.2%
Q3 '2539.6%+87%
Sector: 22.2%Above Avg
OCF Margin32.2%
OCF/NI1.45x
CapEx Coverage33.7x
FCF Yield10.3%
FCF Growth (2Y)+12%
Cash Conversion Cycle
0 days
DSO: 0+DIO: 0DPO: 0

Capital Allocation & Returns

Balanced
Total Shareholder YieldEst.
Est.3.0%
Div Yield3.0%
+
Est. Buyback4.4%

Balancing returns with reinvestment

Dividend & Payout Metrics
Dividend Yield (TTM)3.0%
FCF Payout Ratio28.7%
Free Cash Flow (TTM)$141.0M
Capital Return / FCF28.7%
Est. Dividends Paid (TTM)$40.4M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
Asset Turnover
0.06x
8Q: 0.06x
Leverage (1+D/E)
1.03x
D/E: 0.03x
Asset & CapEx Efficiency
Fixed Asset Turn
3.56x
8Q:3.44x
+247.5%
CapEx/Depreciation
0.27x
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023
Revenue
$451.4M
$126.5M2.7%
$123.2M10.9%
$111.1M22.5%
$90.7M2.5%
$88.5M2.3%
$90.5M7.6%
$84.1M1249.7%
$-7.3M
Operating Income
$263.6M
$76.8M4.3%
$73.7M26.4%
$58.3M6.3%
$54.8M4.8%
$52.3M0.9%
$52.8M11.6%
$47.3M210.0%
$-43.0M
Net Income
$100.2M
$35.1M11.8%
$31.4M198.2%
$10.5M54.7%
$23.2M10.3%
$21.0M2.5%
$20.5M7.9%
$19.0M11.6%
$21.5M
Operating Cash Flow
$145.3M
$51.8M92.5%
$26.9M29.0%
$37.9M32.2%
$28.7M17.1%
$24.5M31.0%
$18.7M21.6%
$23.9M19.4%
$29.6M
Free Cash Flow
$141.0M
$50.1M91.6%
$26.2M28.7%
$36.7M30.8%
$28.0M21.8%
$23.0M35.2%
$17.0M24.7%
$22.6M22.9%
$29.3M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
13.7x
Volatile
8Q: 51.1x+1316%
Valuation Lenses
Earnings
13.7x
vs sector
Cash Flow
8.1x
EV/FCF vs
Growth-Adj
0.2xPEG
Undervalued for growth
Quality-Adj
P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
3.0%
Buyback
Total Yield
3.0%
Market Cap$1.37B
EV$1.14B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
73/100
High Quality

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Above Avg
10.6%
8Q:
Return on Invested Capital (ROIC)
8Q:
vs Sector:0.1%

Earnings Quality

Cash Conversion

1.45x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin

Capital Efficiency

Invested Capital Turnover

Working Capital

Cash Conversion Cycle0 days

Growth Quality & Momentum

Quality Growth
Growth Quality Score
76/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
76.5%
OpInc Growth YoY
46.8%
EPS Growth YoY
3.6%
FCF 3Y CAGR
11.7%

Growth Quality Analysis

Working Capital Drag: FCF growth lagging revenue by 64.8%
Sustainability Index: 7.5/10 - Highly sustainable growth

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
Operating
Net
22.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+9.1 pts
FCF: 31.2% | Net: 22.2%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $223.11M
Interest Coverage
+Net cash position: $223.11M
Leverage Metrics
Debt-to-Equity
0.03x
Balance sheet risk & solvency analysis