Camden National Corp CAC

FinancialsBanking ServicesUnited States of America

Last close 57.34 USD on Nov 1, 2026, +36.6% year to date

Quant rating

Quant rating B Rank 248 of 799 in Financials

Growth B 227 of 799
Valuation C 422 of 799
Quality B 267 of 799
Revisions C 516 of 799
Momentum B 120 of 799

Wall Street consensus Hold (2.75)Average target 60.25 USD +5.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 969M
Enterprise value: 1.1B
52-week range: 37.94 – 60.10
3-year range: 28.65 – 60.10
Dividend yield: 2.93%
Beta (5 years): 0.58
Shares outstanding: 16.9M
Next earnings: Jan 27, 2027

About the company

Camden National Corporation is a bank holding company for Camden National Bank (the Bank). The business of the Company is to attract deposits from and to extend loans to consumer, institutional, municipal, non-profit and commercial customers. The Company, through the Bank, provides a range of banking and other financial services, including wealth management and trust services, brokerage, investment advisory and insurance services to consumers, business, non-profit and municipal customers. The Bank’s digital offerings provide customers with access to banking services and include digital banking for self-service transactions; MortgageTouch, an easy-to-use online platform for consumer borrowers; BusinessTouch, an online loan application system for small business customers, making borrowing faster and easier for small businesses, and TreasuryLink, a secure online platform providing cash management services, monitoring capabilities, and control features for commercial customers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	321	250	226	173	148	–
Revenue growth	28.5%	10.3%	30.9%	16.4%	−5.5%	15.3%
EPS (basic, normalized)	4.16	3.70	2.98	4.18	4.45	–
EPS growth	12.4%	24.3%	−28.9%	−5.9%	−3.8%	−2.1%
Gross margin	–	–	–	–	–	–
Net margin	20.3%	21.2%	19.2%	35.5%	46.4%	28.5%
ROE	12.1%	10.4%	9.3%	13.2%	12.7%	11.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	13.5%
Long-term debt (mil)	62.7
Net debt (mil)	–
Total equity (mil)	721
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	321	+28.5%	3.4x	41.16	+12.5%	1.4x	4.39	+20.3%	13.1x
2026	270	−15.9%	4.1x	44.54	+8.2%	1.3x	5.35	+21.9%	10.7x
2027	284	+5.4%	3.9x	48.89	+9.8%	1.2x	5.74	+7.2%	10.0x
2028	299	+5.4%	3.7x	53.34	+9.1%	1.1x	6.10	+6.3%	9.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	270	−0.1%	−0.4%	−1.5%	5.35	−0.7%	−0.8%	−1.3%
2027	284	0.0%	−0.9%	−2.9%	5.74	−0.5%	−1.5%	−2.9%
2028	299	−0.9%	–	–	6.10	−2.5%	–	–

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	70.5	42.8	45.0	47.6	60.1	62.3	65.4	68.1	64.3	67.4
Sales mean (mil)	41.9	41.7	43.9	45.2	57.8	61.2	62.8	66.2	65.6	66.4
Surprise	+68.3%	+2.7%	+2.5%	+5.2%	+3.9%	+1.8%	+4.2%	+2.9%	−2.0%	+1.5%
EPS reported	0.91	0.81	0.94	1.03	0.95	0.89	1.24	1.33	1.29	1.35
EPS mean	0.70	0.71	0.83	0.89	0.99	1.11	1.18	1.32	1.24	1.29
Surprise	+29.1%	+14.7%	+13.6%	+16.4%	−3.6%	−19.7%	+4.9%	+0.8%	+3.7%	+4.4%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
CAC Camden National Corp	969M	13.5%	20.3%	1.13x	10.7x	10.0x	1.3x	1.2x
MBWM Mercantile Bank Corporation	1.0B	12.3%	26.9%	1.11x	10.7x	10.3x	1.3x	1.2x
Mean		12.9%	23.6%	1.12x	10.7x	10.1x	1.3x	1.2x
Median		12.9%	23.6%	1.12x	10.7x	10.1x	1.3x	1.2x

Technical analysis

1M+0.6%
3M−0.1%
1Y+57.1%
3Y+131.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Camden National Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	321	250	226	173	148	157
Total interest expense	117	117	94.0	25.1	11.0	20.9
Net interest income	203	132	132	148	137	136
Loan loss provision	22.3	−0.4	2.1	4.5	–	–
Net interest income after loan loss provision	181	133	130	143	137	136
Non-interest income	52.5	44.5	31.0	40.7	49.7	50.5
Non-interest expense	−155	−112	−107	−107	−101	−112
Net income before taxes	78.7	65.5	53.8	77.0	86.6	74.4
Provision for taxes	13.5	12.5	10.5	15.6	17.6	14.9
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	65.2	53.0	43.4	61.4	69.0	59.5
Extraordinary items	–	–	–	–	–	–
Net income	65.2	53.0	43.4	61.4	69.0	59.5
Basic weighted average shares (mil)	16.9	14.6	14.6	14.6	14.9	15.0
Diluted weighted average shares (mil)	17.0	14.6	14.6	14.7	15.0	15.0
Basic EPS excluding extraordinary items	3.86	3.63	2.98	4.18	4.62	3.96
Basic EPS, normalized	4.16	3.70	2.98	4.18	4.45	4.62

Balance sheet in millions of USD, fiscal years

Balance sheet, Camden National Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	71.5	62.4	77.6	50.6	38.9	49.5
Other earning assets	1,489	1,303	1,223	1,289	1,711	1,271
Net loans	4,920	4,080	4,061	3,973	3,398	3,182
Property, plant & equipment	73.1	53.7	50.8	52.8	55.2	58.4
Goodwill	152	94.7	94.7	94.7	94.7	94.7
Intangibles	42.6	0.4	1.0	1.6	2.2	2.8
Long-term investments	–	–	–	–	–	–
Other long-term assets	51.1	40.0	42.2	50.2	19.2	12.0
Other assets	176	171	164	159	181	229
Total assets	6,975	5,805	5,715	5,672	5,500	4,899
Liabilities
Accounts payable	75.0	80.3	77.7	68.8	78.5	101
Payable/accrued	–	–	–	–	–	–
Accrued expenses	14.6	8.9	10.0	10.7	11.0	11.8
Total deposits	5,538	4,633	4,597	4,827	4,609	4,005
Other bearing liabilities	327	325	150	68.7	0	25.0
Short-term borrowings	255	176	336	196	212	162
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	68.9	50.9	48.8	48.9	49.1	64.3
Minority interest	–	–	–	–	–	–
Other liabilities	0	0	0	0	0	0
Total liabilities	6,278	5,274	5,219	5,221	4,959	4,369
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	216	116	116	115	123	131
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	545	509	481	462	424	378
Treasury stock	–	–	–	–	–	–
Other equity	−64.4	−94.6	−102	−126	−6.2	20.7
Total equity	697	531	495	451	541	529
Total liabilities & shareholders' equity	6,975	5,805	5,715	5,672	5,500	4,899

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Camden National Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	65.2	53.0	43.4	61.4	69.0	59.5
Depreciation, depletion & amortization	11.1	3.9	4.0	4.1	4.4	4.5
Deferred taxes	0.6	0.3	1.3	1.8	–	–
Non-cash items	−26.2	2.4	15.0	37.7	35.1	−21.3
Changes in working capital	13.3	1.4	3.9	0.1	34.2	−24.5
Cash from operations	63.9	60.9	67.5	105	143	18.2
Investing activities
Capital expenditures	−5.7	−5.6	−2.6	−2.2	−1.9	−2.9
Other investing cash flows	−50.7	35.9	−4.4	−486	−647	−292
Cash from investing	−56.4	30.3	−7.0	−488	−649	−294
Financing activities
Financing cash flow items	−111	261	−94.6	218	579	483
Cash dividends paid	−28.5	−24.6	−24.5	−23.5	−21.1	−19.8
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	14.8	−212	83.0	42.8	23.7	−116
Cash from financing	−125	23.9	−36.1	237	581	346
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−117	115	24.4	−145	74.9	70.1
Free cash flow	58.2	55.4	64.9	103	141	15.3

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

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Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.