German American Bancorp, Inc.

GABC

Financial ServicesSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

German American Bancorp, Inc. operates as a financial holding company for German American Bank that provides retail and commercial banking, and wealth management services. The company operates through Core Banking, and Wealth Management segments. The Core Banking segment accepts deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market. The Wealth Management segment provides trust, investment advisory, brokerage, and retirement planning services. It also offers demand deposits, savings, interest-bearing checking, money market accounts, and certificates of deposit; home equity and credit card loans; and wealth advisory and trust services. The company was founded in 1910 and is based in Jasper, Indiana.

Valuation

Market Cap$1.6B

Current Price$43.04

P/E Ratio14.07

P/B Ratio1.39

EV / EBITDA-

EV / Sales4.62

Profitability

Operating Margin-

Net Profit Margin31.2%

EBITDA Margin-

Returns

ROE9.7%

ROCE-

ROIC %-

ROA1.3%

Solvency

Current Ratio-

Debt / Equity0.12

Debt / Assets0.02

CFO / Net Profit1.41

Price History▲ 14.07% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

No margin data.

Growth Summary

Latest fiscal year: 2025

Revenue$361M▲ 68.2%

EBITDA-

Net Profit$113M▲ 34.4%

Cash from Ops (CFO)$159M

Free Cash Flow (FCF)$154M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$361M	-	$113M	$154M	9.7%	68.2%	34.4%
2024	$215M	-	$84M	$91M	11.7%	-14.3%	-2.4%
2023	$251M	-	$86M	$101M	12.9%	-3.5%	5.0%
2022	$260M	-	$82M	$102M	14.7%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	259.72	250.69	214.93	361.44
Pretax Income	99.18	103.65	104.10	140.07
Tax Provision	17.35	17.76	20.29	27.43
Net Income	81.83	85.89	83.81	112.64
Net Income Common Stockholders	81.83	85.89	83.81	112.64
Interest Expense	18.34	66.22	100.45	125.96
Interest Income	218.93	256.66	291.04	420.09
Selling General And Administration	90.42	90.93	89.10	116.69
Normalized Income	81.83	85.89	52.96	112.64
Basic EPS	2.78	2.91	2.83	0
Diluted EPS	2.78	2.91	2.83	0
Tax Effect Of Unusual Items	0	0	7.47	0
Tax Rate For Calcs	0.17	0.17	0.19	0.20
Total Unusual Items	0	0	38.32	0
Total Unusual Items Excluding Goodwill	0	0	38.32	0
Net Income From Continuing Operation Net Minority Interest	81.83	85.89	83.81	112.64
Reconciled Depreciation	10.12	9.56	9.28	18.71
Net Interest Income	200.58	190.43	190.59	294.13
Net Income From Continuing And Discontinued Operation	81.83	85.89	83.81	112.64
Diluted Average Shares	29.46	29.56	29.66	0
Basic Average Shares	29.46	29.56	29.66	0
Diluted NI Availto Com Stockholders	81.83	85.89	83.81	112.64
Net Income Including Noncontrolling Interests	81.83	85.89	83.81	112.64
Net Income Continuous Operations	81.83	85.89	83.81	112.64
Special Income Charges	0	0	38.32	0
Other Special Charges	0	0	-38.32	0
Gain On Sale Of Security	0.56	0.04	-34.79	0
Depreciation Amortization Depletion Income Statement	3.71	2.84	2.03	10.15
Depreciation And Amortization In Income Statement	3.71	2.84	2.03	10.15
Amortization	3.71	2.84	2.03	10.15
Amortization Of Intangibles Income Statement	3.71	2.84	2.03	10.15
Selling And Marketing Expense	4.42	4.86	3.94	5.15
General And Administrative Expense	86	86.07	85.17	111.54
Other Gand A	0	0	0	0
Insurance And Claims	1.86	2.83	2.91	3.80
Salaries And Wages	84.14	83.24	82.26	107.74
Operating Revenue	259.72	250.69	214.93	361.44
Occupancy And Equipment	14.92	14.47	14.94	19.63
Professional Expense And Contract Services Expense	6.29	5.58	8.15	10.42
Other Non Interest Expense	38.84	30.68	32.15	45.05

Peer Comparison

Financial Services sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
German American Bancorp, Inc.this co.	GABC	$1.6B	14.07	1.39	9.7%	-
Live Oak Bancshares, Inc.	LOB	$1.7B	14.44	1.51	8.4%	-
1st Source Corporation	SRCE	$1.7B	11.13	1.39	-	-
National Bank Holdings Corporation	NBHC	$1.6B	17.37	1.37	7.9%	-
Bank First Corporation	BFC	$1.6B

Learn while you research

Hand-picked academy chapters to deepen your understanding of German American Bancorp, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Growth Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$361M

$113M

$154M

9.7%

68.2%

34.4%

2024

$215M

$84M

$91M

11.7%

-14.3%

-2.4%

2023

$251M

$86M

$101M

12.9%

-3.5%

5.0%

2022

$260M

$82M

$102M

14.7%

Metric

2022

2023

2024

2025

Total Revenue

259.72

250.69

214.93

361.44

Pretax Income

99.18

103.65

104.10

140.07

Tax Provision

17.35

17.76

20.29

27.43

Net Income

81.83

85.89

83.81

112.64

Net Income Common Stockholders

81.83

85.89

83.81

112.64

Interest Expense

18.34

66.22

100.45

125.96

Interest Income

218.93

256.66

291.04

420.09

Selling General And Administration

90.42

90.93

89.10

116.69

Normalized Income

81.83

85.89

52.96

112.64

Basic EPS

2.78

2.91

2.83

Diluted EPS

2.78

2.91

2.83

Tax Effect Of Unusual Items

7.47

Tax Rate For Calcs

0.17

0.19

0.20

Total Unusual Items

38.32

Total Unusual Items Excluding Goodwill

38.32

Net Income From Continuing Operation Net Minority Interest

81.83

85.89

83.81

112.64

Reconciled Depreciation

10.12

9.56

9.28

18.71

Net Interest Income

200.58

190.43

190.59

294.13

Net Income From Continuing And Discontinued Operation

81.83

85.89

83.81

112.64

Diluted Average Shares

29.46

29.56

29.66

Basic Average Shares

29.46

29.56

29.66

Diluted NI Availto Com Stockholders

81.83

85.89

83.81

112.64

Net Income Including Noncontrolling Interests

81.83

85.89

83.81

112.64

Net Income Continuous Operations

81.83

85.89

83.81

112.64

Special Income Charges

38.32

Other Special Charges

-38.32

Gain On Sale Of Security

0.56

0.04

-34.79

Depreciation Amortization Depletion Income Statement

3.71

2.84

2.03

10.15

Depreciation And Amortization In Income Statement

3.71

2.84

2.03

10.15

Amortization

3.71

2.84

2.03

10.15

Amortization Of Intangibles Income Statement

3.71

2.84

2.03

10.15

Selling And Marketing Expense

4.42

4.86

3.94

5.15

General And Administrative Expense

86.07

85.17

111.54

Other Gand A

Insurance And Claims

1.86

2.83

2.91

3.80

Salaries And Wages

84.14

83.24

82.26

107.74

Operating Revenue

259.72

250.69

214.93

361.44

Occupancy And Equipment

14.92

14.47

14.94

19.63

Professional Expense And Contract Services Expense

6.29

5.58

8.15

10.42

Other Non Interest Expense

38.84

30.68

32.15

45.05

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

German American Bancorp, Inc.this co.

GABC

$1.6B

14.07

1.39

9.7%

Live Oak Bancshares, Inc.

LOB

$1.7B

14.44

1.51

8.4%

1st Source Corporation

SRCE

$1.7B

11.13

1.39

National Bank Holdings Corporation

NBHC

$1.6B

17.37

1.37

7.9%

Bank First Corporation

BFC

$1.6B

German American Bancorp, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

German American Bancorp, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on