ALRS
Alerus Financial Corporation
ALRS's fundamentals are weak and it looks expensive: trading at 29x earnings, more than twice its usual 12x. Analysts expect earnings growth.
ALRS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| N/A | |
| N/A |
ALRS's revenue and profitability are currently stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like ALRS.
ALRS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.5x | $11.26 | -67% |
| Fair | 12x | $13.75 | -60% |
| Forward | 12x | $34.27 | — |
| Current | 29x | $34.27 | — |
| Expensive | 35x | $41.75 | +22% |
Historical ranges are pointers, not guarantees.
ALRS's PE is in its expensive range at 29x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its fair range.
ALRS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ALRS, with profitability improving.
ALRS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.86 | +140% |
| Q3 2026 | $1.19 | -37% |
| Q2 2026 | $1.08 | -28% |
| Q1 2026 | $1.05 | +1.9% |
| Q4 2025 | $0.68 | -18% |
| Q3 2025 | $1.89 | +1012% |
| Q2 2025 | $1.50 | +317% |
| Q1 2025 | $1.03 | +106% |
| Q4 2024 | $0.83 | +43% |
ALRS's earnings per share have fallen from their peak: $1.19 over the past year, against $3.14 in mid-2021.
ALRS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $81.1M | +12% |
| Q2 2026 | $80.7M | +7.8% |
| Q1 2026 | $75.8M | +10% |
| Q4 2025 | $8.2M | -89% |
| Q3 2025 | $72.6M | +43% |
| Q2 2025 | $74.8M | +46% |
| Q1 2025 | $68.8M | +45% |
| Q4 2024 | $72.2M | +223% |
ALRS's revenue is down over the past year, though its latest quarter was up: $81M last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +0.5 points |
| Q2 2026 | 34% | -1.4 points |
| Q1 2026 | 40% | +14 points |
| Q4 2025 | -527% | -527 points |
| Q3 2025 | 30% | +17 points |
| Q2 2025 | 35% | +19 points |
| Q1 2025 | 26% | +7.6 points |
| Q4 2024 | -0.4% | +79 points |
ALRS's operating margin was 31% last quarter, about level with the same quarter a year ago.
ALRS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $52.7M | +74% |
| Q2 2026 | $17.9M | +137% |
| Q1 2026 | $25.8M | +356% |
| Q4 2025 | $15.3M | +241% |
| Q3 2025 | $30.3M | +87% |
| Q2 2025 | $7.6M | +$22.7M |
| Q1 2025 | $5.7M | -49% |
| Q4 2024 | $4.5M | +$7.5M |
ALRS's free cash flow was $112M over the past year, up 133% from the year before. Free cash flow isn't a meaningful measure for financial services companies like ALRS.
ALRS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -234K shares |
| 1 year | -2.1% | -552K shares |
| 3 years | +25% | +5.1M shares |
| 5 years | +44% | +7.7M shares |
| Available history | +67% | +10.1M shares |
ALRS has 25M diluted shares, down 2.1% from a year ago, with $22M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $8.3M |
| Q2 2026 | $7.1M |
| Q1 2026 | $6.5M |
| Q4 2025 | $219,000 |
| Q3 2025 | $342,000 |
| Q2 2025 | $49,000 |
| Q1 2025 | $127,000 |
| Q4 2024 | $44,000 |
ALRS spent $22M buying back its own shares over the past year, more than ten times what it spent the year before.
ALRS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.9x | High |
| Q2 2026 | 5.8x | High |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 7.9x | High |
| Q3 2025 | 2.1x | Moderate |
| Q2 2025 | 4.6x | High |
| Q1 2025 | 4.0x | High |
| Q4 2024 | 7.2x | High |
ALRS's net debt is about 5.9 years of its operating earnings (EBITDA), up from 2.1 years a year ago. Net leverage isn't a meaningful measure for financial services companies like ALRS.
ALRS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.7 | Neutral |
| Stochastic | 74.9 | Neutral |
ALRS's weekly RSI is 68 (neutral) and its Stochastic is 75 (neutral).
ALRS PE vs Financial Services Sector
| Metric | ALRS | Sector median | Relative |
|---|---|---|---|
| PE | 29x | 13x | 121% above |
| PE % | 76 | 63 | 13 pts above |
ALRS is trading at 29x earnings, a 121% premium to the Financial Services sector's median of 13x.
ALRS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $32.6 | 5.2% above |
| 20 week MA | $32.7 | 4.8% above |
| 50 week MA | $28.3 | 21% above |
| 100 week MA | $24.5 | 40% above |
| 200 week MA | $22.2 | 55% above |
ALRS is in an uptrend: it's above all five of its weekly moving averages, and 55% above its 200-week average.
ALRS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.8 | $27.1 | +19% |
| 2021 | $27.1 | $29.5 | +8.9% |
| 2022 | $29.5 | $23.3 | -21% |
| 2023 | $23.3 | $22.4 | -3.9% |
| 2024 | $22.4 | $19.2 | -14% |
| 2025 | $19.2 | $21.8 | +13% |
| 2026 YTD | $21.8 | $34.3 | +57% |
ALRS is up 57% so far in 2026, after finishing lower in three of the previous six years.