Arrow Financial Corporation (AROW) — RQD Stock Rating Cockpit

AROW scores 64 out of 100, graded C, with the verdict "Roarable Hold — Fair / Balanced Risk-Reward." The five pillars are:

• Fundamental Cash Engine: 11 / 20. Per the RQD pillar, this reflects ROIC of 10.2% and an FCF yield of 5.05%. Both are reported in the market data. The pillar sits below midpoint, indicating that cash generation is present but not outstanding relative to the scoring framework.
• Whale 13F Flow: 12 / 20. The pillar is labeled "Institutional accumulation & options positioning." No underlying 13F holdings or options detail is provided in the holders section, so the score cannot be traced to specific positions.
• Macro Regime Fit: 13 / 20. Per the RQD pillar, beta is 1.0 and the score reflects sector sensitivity. A beta of 1.0 implies market-level sensitivity to broad moves.
• Forensic Balance Sheet: 13 / 20. Per the RQD pillar, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 0.5. These figures are mid-range on the scoring scale.

For a prospective investor, the composite reads as balanced rather than compelling. Strength is concentrated in insider flow, while cash-engine and forensic scores are moderate. The valuation inputs (P/E TTM 16.3, forward P/E 15.2) and the 5. This is an educational summary of the rating, not personalized advice.

Arrow Financial Corporation (AROW) is a NASDAQ-listed issuer in the Financials sector, Major Banks industry. The profile identifies the company as a banking-sector business with a market capitalization of $0.7B.

Reported net income rose from $30.1M (FY 2023) to $29.7M (FY 2024) and then to $44.0M (FY 2025), with FCF moving from $20.6M to $28.9M to $36.2M over the same periods. Revenue and operating income are reported as —, so margin analysis cannot be performed from the filings. Per the market data, gross, operating, and net margins are each listed as 0%, which should be treated as non-informative given the zero-reported revenue line. Per the market data, ROIC is 10.2%. Per the Roarable RQD pillar, the Altman Z-Score is 2.5.

• 🐂 Primary Bull Case: Net income rose from $29.7M in FY 2024 to $44.0M in FY 2025 while FCF climbed to $36.2M, with the insider pillar scoring 15 / 20. With Fundamental Cash Engine at 11/20 (ROIC 10.2%, FCF yield 5.05%) and Institutional Whale Flow at 12/20, sustained execution supports upside toward the top of the $28.00 – $42.70 52-week range.
• 🐻 Primary Bear Case: Per the news feed, about $15.6 million in merger costs topped the company's profit tied to the Adirondack deal, and revenue and operating income are unreported at $0.0M. Investors must weigh 16.3x trailing P/E against — operating margins and a 1.00 macro beta if sector demand softens.

The only sector-level information is the classification itself (Financials / Major Banks) and beta of 1.0. Investors should note that the absence of mapped links means ripple effects cannot be traced from this dataset.

• Key Question #1: What are the cash and total debt balances behind the 0.5 Debt/Equity ratio?
• Key Question #2: What were the specific terms and integration timeline of the Adirondack Bancorp acquisition, and how much of the $15.6 million in merger costs is expected to be non-recurring?
• Key Question #3: What is the analyst consensus and price-target distribution, given that analyst data is not provided?