QCR Holdings (QCRH) just wrapped up Q1 2026 with recent quarterly revenue running around US$101.5 million and basic EPS of about US$2.13, backed by trailing twelve month revenue of roughly US$351.5 million and EPS of US$7.54 that has been associated with an 11.7% earnings growth rate over the past year. Over recent periods, the company has seen revenue move from US$330.2 million and EPS of US$6.77 on a trailing basis in Q4 2024 to US$351.5 million and EPS of US$7.54 by Q4 2025, supported by a net profit margin of 36.2% compared with 34.5% the prior year. For investors, that kind of margin profile sets the stage for a results season in which the key question is how durable this profitability really looks.

See our full analysis for QCR Holdings.

With the latest numbers on the table, the next step is to see how this earnings profile lines up against the main narratives around QCR Holdings, and where the data starts to challenge those stories.

Margins and costs tracked through the year

• Across the last twelve months, QCR Holdings reported a net profit margin of 36.2%, alongside a net interest margin of 3.49% and a cost to income ratio of 57.63%, giving a fuller picture of how much of that US$351.5 million in revenue is turning into profit after funding costs and operating expenses.
• Analysts' consensus view links future earnings strength to digital transformation and wealth management growth, and the current margins create both support and questions for that view.
  • On one hand, the move from a 3.33% net interest margin and 58.37% cost to income ratio in the earlier trailing data to 3.49% and 57.63% aligns with the idea that efficiency projects and a better deposit mix can support profitability.
  • On the other hand, consensus expects profit margins to move from 36.2% to 27.8% over the next few years, which sits in tension with the recent margin profile and means the bullish efficiency story is not fully reflected in the forecasts.

Loan book steady with contained problem credits

• Total loans at the end of 2025 sat at US$7.2b on a trailing twelve month basis, with non performing loans at US$42.3 million, which is a small share of the overall portfolio and gives context for the 11.7% earnings growth over the past year.
• Critics in the consensus narrative focus on exposures such as commercial real estate, agriculture and the M2 equipment finance portfolio, and the current numbers give a mixed read on those concerns.
  • The presence of US$42.3 million in non performing loans plus references to runoff and charge offs in specific portfolios show that credit issues exist but are not dominating the overall loan book at this size.
  • At the same time, the mention of criticized loans ticking up from a single large downgrade and heavy use of areas like LIHTC and commercial real estate means bears can still point to areas where that US$7.2b of loans could be more sensitive if conditions in those segments change.

🐻 QCR Holdings Bear Case

Valuation gap versus earnings profile

• QCR Holdings trades on a trailing P/E of 11.5x at a share price of US$88.56, compared with a DCF fair value of US$134.24 and an analyst price target of US$100.80, so the stock sits below both the internal cash flow estimate and the external target while earnings have grown at 8.4% per year over five years and 11.7% over the past year.
• Consensus narrative supporters point to digital transformation, LIHTC driven fee income and Midwest loan growth as reasons this valuation gap may exist, and the figures highlight where the thesis lines up with current performance.
  • The 11.7% earnings growth over the last year, on top of a 5 year compound rate of 8.4%, fits with the idea that affordable housing demand, regional loan growth and expanding wealth management are already contributing to profit, even before any future step up from technology investments.
  • However, the fact that the P/E sits below the peer average of 14.4x while consensus still builds in margin compression from 36.2% to 27.8% shows that the market price may be giving weight to execution risks around digital projects, LIHTC exposure and the expected US$3 million Durbin impact as the bank approaches US$10b in assets.

🐂 QCR Holdings Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for QCR Holdings on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If this mix of optimism and caution feels familiar, use it as a prompt to move quickly and test the numbers yourself against your own expectations. To see the specific bright spots that current holders are focusing on, take a closer look at the 2 key rewards

See What Else Is Out There

QCR Holdings carries credit and concentration concerns across areas like commercial real estate and criticized loans, which leaves some investors uneasy about future resilience.

If that credit risk focus feels uncomfortably high, compare it with companies that score better on resilience by checking out the 74 resilient stocks with low risk scores.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.