Alerus Financial Corp

Alerus Financial Corp maintains a conservative capital structure with total assets of $5.23 billion and total liabilities of $4.67 billion, resulting in total equity of $564.9 million. The debt-to-equity ratio stands at 0.1, indicating minimal leverage relative to equity. Liquidity is supported by cash and equivalents of $67.2 million, while operating cash flow of $67.5 million exceeds capital expenditures of $8.7 million, generating positive free cash flow. The current ratio is not explicitly provided, but the low debt load and positive cash generation suggest adequate short-term solvency.

Profitability metrics indicate modest returns, with a return on equity (ROE) of 4.8% and a return on assets (ROA) of 0.52%. The price-to-earnings ratio of 30.66 and price-to-book ratio of 1.47 suggest the market values the company at a premium to its book value, though the high P/E may reflect low earnings relative to price rather than high growth expectations. Without cohort median data, direct comparison to industry peers is not possible, but the ROE and ROA are consistent with a stable, low-growth financial institution.

Revenue surged 61.1% year-over-year to $172.5 million in fiscal 2026, demonstrating strong top-line growth momentum.

Return on equity of 4.8% ranks in the top quartile of the financial services peer group.

Debt-to-equity ratio of 0.10 is substantially lower than the cohort median of 4.09, reflecting a conservative capital structure.

Free cash flow turned positive to $3.2 million in fiscal 2026, recovering from a negative position in the prior year.

Capital expenditures as a percentage of revenue are in the bottom quartile of the peer cohort.

Revenue $44.9M, +9,1% YoY; Net income +72,5% YoY.

• ▍Revenue $44.9M, +9,1% YoY
• ▍Net income +72,5% YoY
• ▍Free cash flow +91,0% YoY
• ▍Net margin 51.1%

Revenue $45.2M, +18,0% YoY; Net income −49 978,8% YoY.

• ▍Revenue $45.2M, +18,0% YoY
• ▍Net income −49 978,8% YoY
• ▍Free cash flow −523,0% YoY
• ▍Net margin -73.2%

Revenue $43.1M, +91,4% YoY; Net income +225,0% YoY.

• ▍Revenue $43.1M, +91,4% YoY
• ▍Net income +225,0% YoY
• ▍Free cash flow +1 855,6% YoY
• ▍Net margin 39.2%

Revenue $43.0M, +79,3% YoY; Net income +226,2% YoY.

• ▍Revenue $43.0M, +79,3% YoY
• ▍Net income +226,2% YoY
• ▍Free cash flow +1 575,0% YoY
• ▍Net margin 47.1%

Revenue $41.2M; Net margin 32.4%.

• ▍Revenue $41.2M
• ▍Net margin 32.4%

Revenue $38.3M; Net margin -0.2%.

• ▍Revenue $38.3M
• ▍Net margin -0.2%

Revenue $22.5M; Net margin 23.1%.

• ▍Revenue $22.5M
• ▍Net margin 23.1%

Revenue $24.0M; Net margin 25.9%.

• ▍Revenue $24.0M
• ▍Net margin 25.9%

Revenue $172.5M, +61,1% YoY; Net income −1,9% YoY.

• ▍Revenue $172.5M, +61,1% YoY
• ▍Net income −1,9% YoY
• ▍Free cash flow +1 777,2% YoY
• ▍Net margin 10.1%

Revenue $107.0M, +21,9% YoY; Net income +52,0% YoY.

• ▍Revenue $107.0M, +21,9% YoY
• ▍Net income +52,0% YoY
• ▍Free cash flow −108,7% YoY
• ▍Net margin 16.6%

Revenue $87.8M, −11,9% YoY; Net income −70,8% YoY.

• ▍Revenue $87.8M, −11,9% YoY
• ▍Net income −70,8% YoY
• ▍Free cash flow −93,4% YoY
• ▍Net margin 13.3%

Revenue $99.7M, +14,5% YoY; Net income −24,1% YoY.

• ▍Revenue $99.7M, +14,5% YoY
• ▍Net income −24,1% YoY
• ▍Free cash flow −31,0% YoY
• ▍Net margin 40.1%