Detailed financial statements for None (CHMG): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Chemung Financial Corporation (CFC) functions as the parent company for Chemung Canal Trust Company, providing a comprehensive suite of banking, financing, and fiduciary services. CFC offers a diverse array of deposit products, including demand, savings, and time accounts, alongside both interest-bearing and non-interest-bearing checking accounts, and insured money market accounts.
Analysis Summary
None reported revenue of $139.9M in the most recent fiscal year, growing at a 5-year CAGR of 10.0%. Net income reached $15.1M, with a -4.7% 5-year CAGR.
Balance sheet quality for CHMG: current ratio of 0.1, net cash position of $298.4M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $43.8M represents 290% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $76.6M | $79.9M | $86.8M | $86.2M | $86.9M | $91.8M | $101.9M | $136.6M | $149.6M | $139.9M |
| Cost of Revenue | $6.3M | $12.1M | $7.2M | $12.3M | $8.2M | $3.4M | $6.7M | $41.9M | $53.5M | $50.1M |
| Gross Profit | $70.4M | $67.8M | $79.5M | $74.0M | $78.6M | $88.4M | $95.2M | $94.7M | $96.2M | $89.8M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $27.9M | $29.0M | $30.2M | $30.8M | $31.4M | $32.7M | $33.4M | $36.6M | $38.9M | $41.8M |
| Operating Expenses | $55.9M | $53.1M | $55.9M | $54.9M | $54.8M | $54.6M | $58.3M | $63.2M | $66.1M | $69.9M |
| Operating Income | $14.4M | $14.7M | $23.6M | $19.0M | $23.9M | $33.8M | $36.9M | $31.5M | $30.1M | $19.9M |
| EBITDA | $19.6M | $19.3M | $27.8M | $23.5M | $28.1M | $37.3M | $39.9M | $34.3M | $32.1M | $22.6M |
| Interest Expense | $3.8M | $3.1M | $4.1M | $6.3M | $4.0M | $3.4M | $7.3M | $38.6M | $53.5M | $45.7M |
| Pre-tax Income | $14.4M | $14.7M | $23.6M | $19.0M | $23.9M | $33.8M | $36.9M | $31.5M | $30.1M | $19.9M |
| Income Tax | $4.4M | $7.3M | $4.0M | $3.4M | $4.6M | $7.3M | $8.1M | $6.5M | $6.4M | $4.8M |
| Net Income | $10.0M | $7.4M | $19.6M | $15.6M | $19.3M | $26.4M | $28.8M | $25.0M | $23.7M | $15.1M |
| EPS | $2.11 | $2.16 | $4.06 | $3.21 | $4.01 | $5.64 | $6.13 | $5.28 | $4.96 | $3.13 |
| EPS (Diluted) | $2.11 | $2.16 | $4.06 | $3.21 | $4.01 | $5.64 | $6.13 | $5.28 | $4.96 | $3.13 |
| Shares Outstanding (Diluted) | $4.8M | $4.8M | $4.8M | $4.9M | $4.8M | $4.7M | $4.7M | $4.7M | $4.8M | $4.8M |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $74.2M | $30.7M | $130.0M | $121.9M | $108.5M | $27.0M | $55.9M | $36.8M | $47.0M | $22.8M |
| Short-term Investments | $303.4M | $293.6M | $242.3M | $284.1M | $554.6M | $792.0M | $632.6M | $584.0M | $421.7M | $280.6M |
| Receivables | $27.0M | $27.1M | $28.5M | $30.4M | $40.0M | $31.7M | $59.5M | 0 | 0 | 0 |
| Inventory | -$2.9M | -$2.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $404.6M | $351.0M | $403.8M | $436.4M | $706.2M | $850.7M | $747.9M | $620.8M | $468.8M | $303.4M |
| Property, Plant & Equipment | $28.9M | $26.7M | $25.0M | $30.4M | $27.3M | $25.2M | $22.6M | $20.2M | $21.8M | $25.1M |
| Goodwill | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M | $21.8M |
| Intangible Assets | $2.9M | $2.1M | $1.4M | $742000 | $258000 | $15000 | 0 | 0 | 0 | 0 |
| Total Assets | $1.66B | $1.71B | $1.76B | $1.79B | $2.28B | $2.42B | $2.65B | $2.71B | $2.78B | $2.71B |
| Accounts Payable | $14.4M | $14.9M | $15.5M | $19.6M | $29.7M | $15.1M | $18.0M | $19.6M | 0 | 0 |
| Short-term Debt | $27.6M | $67.7M | 0 | 0 | 0 | $14.6M | $95.8M | $31.9M | $109.1M | 0 |
| Total Current Liabilities | $1.49B | $1.54B | $1.57B | $1.57B | $2.04B | $2.19B | $2.42B | $2.46B | $2.51B | $2.27B |
| Long-term Debt | $9.1M | $2.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $1.51B | $1.56B | $1.59B | $1.61B | $2.08B | $2.21B | $2.48B | $2.52B | $2.56B | $2.46B |
| Retained Earnings | $124.1M | $128.5M | $143.1M | $153.7M | $168.0M | $188.9M | $211.9M | $229.9M | $247.7M | $256.5M |
| Total Equity | $143.7M | $149.8M | $165.0M | $182.6M | $199.7M | $211.5M | $166.4M | $195.2M | $215.3M | $254.7M |
| Total Debt | $41.4M | $74.2M | $4.3M | $12.2M | $11.1M | $25.5M | $105.8M | $40.8M | $118.5M | $4.9M |
| Net Debt | -$336.1M | -$250.1M | -$367.9M | -$393.8M | -$652.0M | -$793.5M | -$582.7M | -$580.0M | -$350.3M | -$298.4M |
| Working Capital | -$1.08B | -$1.19B | -$1.17B | -$1.14B | -$1.33B | -$1.33B | -$1.68B | -$1.84B | -$2.04B | -$1.97B |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $10.0M | $7.4M | $19.6M | $15.6M | $19.3M | $26.4M | $28.8M | $25.0M | $23.7M | $15.1M |
| Depreciation & Amortization | $5.2M | $4.6M | $4.2M | $4.4M | $4.3M | $3.5M | $3.0M | $2.8M | $2.0M | $2.7M |
| Stock-based Compensation | $402000 | $410000 | $494000 | $603000 | $773000 | $667000 | $795000 | $1.1M | $1.2M | $23000 |
| Change in Working Capital | $5.2M | -$3.1M | -$3.2M | $1.5M | -$1.7M | $8.3M | $26.2M | $844000 | $2.6M | $7.4M |
| Operating Cash Flow | $22.1M | $23.6M | $27.8M | $26.4M | $28.7M | $35.5M | $35.0M | $30.9M | $29.8M | $45.5M |
| Capital Expenditure | -$1.7M | -$1.5M | -$1.8M | -$883000 | -$867000 | -$367000 | -$426000 | -$462000 | -$3.6M | -$1.7M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | -$7.6M | -$1.6M | -$933000 | -$316000 | -$344000 | -$396000 |
| Dividends Paid | -$4.9M | -$4.9M | -$5.0M | -$5.0M | -$5.0M | -$5.3M | -$5.8M | -$5.8M | -$7.4M | -$6.3M |
| Free Cash Flow | $20.4M | $22.2M | $26.0M | $25.5M | $27.8M | $35.1M | $34.6M | $30.4M | $26.2M | $43.8M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +4.2% | +8.7% | -0.6% | +0.7% | +5.7% | +11.0% | +34.0% | +9.5% | -6.5% | |
| Net Income Growth (YoY) | -25.9% | +164.1% | -20.5% | +23.4% | +37.2% | +8.9% | -13.1% | -5.3% | -36.2% | |
| EPS Growth (YoY) | +2.4% | +88.0% | -20.9% | +24.9% | +40.6% | +8.7% | -13.9% | -6.1% | -36.9% | |
| Shares Change (YoY) | +0.8% | +0.7% | +0.8% | -1.4% | -2.5% | +0.2% | +0.8% | +0.8% | +0.9% | |
| FCF Growth (YoY) | +8.4% | +17.3% | -1.8% | +8.9% | +26.3% | -1.3% | -12.1% | -13.9% | +67.3% | |
| Gross Margin | 91.8% | 84.9% | 91.7% | 85.8% | 90.5% | 96.3% | 93.4% | 69.3% | 64.3% | 64.2% |
| Operating Margin | 18.8% | 18.4% | 27.2% | 22.1% | 27.5% | 36.8% | 36.2% | 23.1% | 20.1% | 14.2% |
| EBITDA Margin | 25.6% | 24.1% | 32.0% | 27.2% | 32.4% | 40.6% | 39.2% | 25.1% | 21.5% | 16.2% |
| Net Margin | 13.1% | 9.3% | 22.6% | 18.1% | 22.2% | 28.8% | 28.2% | 18.3% | 15.8% | 10.8% |
| FCF Margin | 26.7% | 27.8% | 30.0% | 29.6% | 32.0% | 38.2% | 34.0% | 22.3% | 17.5% | 31.3% |
| Effective Tax Rate | 30.5% | 49.4% | 17.0% | 18.0% | 19.3% | 21.7% | 22.0% | 20.6% | 21.3% | 24.2% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $4.29 | $4.62 | $5.38 | $5.24 | $5.79 | $7.49 | $7.38 | $6.43 | $5.49 | $9.11 |
| Dividends Per Share | $1.02 | $1.02 | $1.03 | $1.03 | $1.04 | $1.14 | $1.24 | $1.23 | $1.54 | $1.31 |
| Shares Outstanding (Basic) | $4.8M | $4.8M | $4.8M | $4.9M | $4.8M | $4.7M | $4.7M | $4.7M | $4.8M | $4.8M |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 17.23 | 22.27 | 10.17 | 13.24 | 8.47 | 8.24 | 7.48 | 9.43 | 9.84 | 17.83 |
| P/B | 1.20 | 1.54 | 1.21 | 1.13 | 0.82 | 1.03 | 1.29 | 1.21 | 1.08 | 1.05 |
| P/S | 2.26 | 2.89 | 2.30 | 2.40 | 1.88 | 2.37 | 2.11 | 1.73 | 1.56 | 1.92 |
| Gross Margin | 91.8% | 84.9% | 91.7% | 85.8% | 90.5% | 96.3% | 93.4% | 69.3% | 64.3% | 64.2% |
| Operating Margin | 18.8% | 18.4% | 27.2% | 22.1% | 27.5% | 36.8% | 36.2% | 23.1% | 20.1% | 14.2% |
| Net Margin | 13.1% | 9.3% | 22.6% | 18.1% | 22.2% | 28.8% | 28.2% | 18.3% | 15.8% | 10.8% |
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