Pathward Financial (CASH) Financials

$74.58 +0.06 (+0.07%)

As of 09:32 AM Eastern

Annual Income Statements for Pathward Financial

This table shows Pathward Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	9/30/2014	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024
Net Income / (Loss) Attributable to Common Shareholders	16	18	33	45	52	97	105	142	156	164	168
Consolidated Net Income / (Loss)	16	18	33	45	52	101	109	146	159	166	170
Net Income / (Loss) Continuing Operations	16	18	33	45	52	101	109	146	159	166	170
Total Pre-Tax Income	19	19	39	55	57	98	115	156	187	182	199
Total Revenue	98	117	178	265	315	487	499	550	601	704	755
Net Interest Income / (Expense)	46	59	77	93	131	264	259	279	307	388	455
Total Interest Income	49	62	81	108	159	326	293	286	312	399	476
Loans and Leases Interest Income	20	30	36	52	98	275	261	256	268	324	396
Investment Securities Interest Income	15	14	16	17	15	11	9.03	12	27	41	39
Other Interest Income	14	18	29	39	45	40	23	18	17	34	41
Total Interest Expense	2.40	2.39	4.09	15	28	62	34	6.86	4.87	11	21
Deposits Interest Expense	0.97	0.73	0.61	6.05	15	47	23	1.59	0.50	4.36	13
Long-Term Debt Interest Expense	1.43	1.66	3.48	8.82	13	15	11	5.27	4.37	6.52	8.21
Total Non-Interest Income	52	58	101	172	185	223	240	271	294	317	300
Other Service Charges	51	57	0.01	0.26	8.33	9.98	15	26	17	22	23
Net Realized & Unrealized Capital Gains on Investments	0.01	-1.61	-0.33	-0.01	0.56	7.83	24	12	44	13	13
Other Non-Interest Income	1.14	2.35	101	172	176	205	201	233	233	282	264
Provision for Credit Losses	1.15	1.47	4.61	11	29	56	65	50	29	57	43
Total Non-Interest Expense	78	97	135	200	228	333	319	344	385	465	513
Salaries and Employee Benefits	38	46	70	101	121	163	144	151	171	184	201
Net Occupancy & Equipment Expense	10	13	15	18	20	28	27	29	35	35	37
Property & Liability Insurance Claims	4.15	4.98	4.82	8.38	15	17	21	31	41	27	25
Other Operating Expenses	25	29	37	58	58	71	79	90	96	165	201
Depreciation Expense	-	-	0.00	0.00	5.39	26	33	31	36	46	42
Amortization Expense	-	-	4.83	12	9.64	18	11	8.55	6.59	4.97	4.13
Impairment Charge	0.08	1.35	0.00	-	0.02	9.66	1.98	2.82	0.67	3.27	3.01
Income Tax Expense	2.91	1.37	5.60	10	5.12	-3.37	5.66	11	28	16	29
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	0.67	4.31	4.62	4.04	2.97	2.19	1.29
Basic Earnings per Share	$2.57	$2.68	$1.31	$1.62	$1.68	$2.49	$2.94	$4.38	$5.26	$6.01	$6.63
Weighted Average Basic Shares Outstanding	6.11M	6.73M	8.50M	9.30M	39.41M	37.58M	33.45M	30.55M	28.47M	25.99M	24.12M
Diluted Earnings per Share	$2.53	$2.66	$1.30	$1.61	$1.67	$2.49	$2.94	$4.38	$5.26	$5.99	$6.62
Weighted Average Diluted Shares Outstanding	6.11M	6.73M	8.50M	9.30M	39.41M	37.58M	33.45M	30.55M	28.47M	25.99M	24.12M
Weighted Average Basic & Diluted Shares Outstanding	6.11M	6.73M	8.50M	9.30M	39.41M	37.58M	33.45M	30.55M	28.47M	25.99M	24.12M
Cash Dividends to Common per Share	$0.52	$0.52	$0.17	$0.17	$0.18	$0.20	$0.20	$0.20	$0.20	$0.20	$0.20

This table shows Pathward Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	22	23	28	55	45	36	28	65	42	34	31
Consolidated Net Income / (Loss)	24	24	28	55	46	36	28	66	42	34	32
Net Income / (Loss) Continuing Operations	24	24	28	55	46	36	28	66	42	34	32
Total Pre-Tax Income	31	23	35	65	49	34	34	81	47	37	38
Total Revenue	126	123	150	228	165	161	163	247	177	168	174
Net Interest Income / (Expense)	72	80	84	101	97	105	110	118	111	116	116
Total Interest Income	74	80	85	105	99	110	116	127	114	120	119
Loans and Leases Interest Income	63	65	68	84	81	90	95	103	96	102	103
Investment Securities Interest Income	7.38	10	10	10	10	10	10	10.00	9.75	9.61	8.99
Other Interest Income	3.98	5.11	6.25	10	7.87	9.33	11	14	8.32	7.85	7.52
Total Interest Expense	1.76	0.46	1.00	3.28	1.88	4.71	5.86	8.46	3.08	3.83	3.11
Deposits Interest Expense	0.09	0.10	0.14	2.10	0.16	1.95	3.53	6.69	1.69	1.12	0.78
Long-Term Debt Interest Expense	1.66	0.36	0.86	1.19	1.72	2.75	2.34	1.78	1.39	2.71	2.33
Total Non-Interest Income	54	43	66	127	68	56	53	129	66	52	57
Other Service Charges	53	-184	3.56	128	67	-176	5.18	127	61	-170	51
Net Realized & Unrealized Capital Gains on Investments	1.44	-5.20	11	-0.67	0.82	2.01	2.87	1.70	4.68	3.46	6.10
Provision for Credit Losses	-1.30	-2.65	9.78	37	1.77	9.04	9.89	26	5.88	0.84	12
Total Non-Interest Expense	97	103	105	127	115	118	119	140	124	130	124
Salaries and Employee Benefits	45	43	43	48	47	46	47	54	48	52	49
Net Occupancy & Equipment Expense	9.00	9.06	8.31	8.51	8.60	9.27	8.85	9.29	9.07	9.38	9.71
Property & Liability Insurance Claims	12	13	9.46	4.92	5.09	7.63	4.89	6.14	5.41	8.41	5.23
Other Operating Expenses	19	27	33	50	39	43	47	57	48	49	47
Depreciation Expense	9.15	9.31	9.63	15	11	11	10	10	10	10	11
Amortization Expense	1.53	1.40	1.26	1.44	1.17	1.11	0.98	1.24	0.98	0.92	0.81
Income Tax Expense	6.96	-1.27	6.58	9.18	3.24	-2.67	5.72	15	5.12	3.05	6.29
Net Income / (Loss) Attributable to Noncontrolling Interest	1.45	0.69	0.58	0.60	0.51	0.51	0.26	0.25	0.21	0.58	0.20
Basic Earnings per Share	$0.76	$0.84	$0.98	$1.99	$1.69	$1.35	$1.06	$2.56	$1.66	$1.35	$1.29
Weighted Average Basic Shares Outstanding	29.05M	28.47M	27.56M	26.91M	26.23M	25.99M	25.49M	25.27M	24.98M	24.12M	23.85M
Diluted Earnings per Share	$0.76	$0.84	$0.98	$1.99	$1.68	$1.34	$1.06	$2.56	$1.66	$1.34	$1.29
Weighted Average Diluted Shares Outstanding	29.05M	28.47M	27.56M	26.91M	26.23M	25.99M	25.49M	25.27M	24.98M	24.12M	23.85M
Weighted Average Basic & Diluted Shares Outstanding	29.05M	28.47M	27.56M	26.91M	26.23M	25.99M	25.49M	25.27M	24.98M	24.12M	23.85M
Cash Dividends to Common per Share	$0.05	-	$0.05	$0.05	$0.05	-	$0.05	$0.05	$0.05	-	$0.05

This table details how cash moves in and out of Pathward Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	9/30/2014	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024
Net Change in Cash & Equivalents	-10	-2.17	746	494	-1,168	27	301	-113	74	-12	-217
Net Cash From Operating Activities	26	49	78	120	138	191	467	582	269	303	454
Net Cash From Continuing Operating Activities	26	49	78	120	138	186	467	582	269	303	454
Net Income / (Loss) Continuing Operations	16	18	33	45	52	101	109	146	159	166	170
Consolidated Net Income / (Loss)	16	18	33	45	52	101	109	146	159	166	170
Provision For Loan Losses	1.15	1.47	4.61	11	29	56	65	50	29	57	43
Depreciation Expense	18	29	36	45	38	55	61	59	62	65	58
Non-Cash Adjustments to Reconcile Net Income	-1.70	0.65	-0.74	19	34	-24	233	286	47	-45	16
Changes in Operating Assets and Liabilities, net	-7.50	0.17	5.80	0.34	-15	-2.80	-0.42	41	-28	60	167
Net Cash From Investing Activities	-368	-454	-738	-700	-390	-339	-206	-1,118	-311	-921	-228
Net Cash From Continuing Investing Activities	-368	-454	-738	-700	-390	-339	-206	-1,118	-311	-921	-228
Purchase of Property, Leasehold Improvements and Equipment	-2.33	-5.03	-6.98	-6.80	-10	-158	-66	-63	-439	-450	-276
Purchase of Investment Securities	-1,067	-1,709	-1,992	-2,036	-2,262	-2,032	-853	-1,354	-1,196	-702	-708
Sale of Property, Leasehold Improvements and Equipment	1.18	2.10	0.06	0.06	0.00	0.10	17	16	0.04	15	0.00
Sale and/or Maturity of Investments	700	1,248	1,260	1,342	1,823	1,850	792	479	966	524	619
Other Investing Activities, net	-	-	-	-	-	1.57	-101	-196	359	-307	138
Net Cash From Financing Activities	332	403	1,406	1,074	-916	175	40	423	118	605	-443
Net Cash From Continuing Financing Activities	332	403	1,406	1,074	-916	175	40	423	118	605	-443
Net Change in Deposits	51	291	773	793	87	-92	931	536	351	723	-714
Issuance of Debt	0.00	70	627	308	0.00	283	1.63	0.08	20	0.00	0.00
Issuance of Common Equity	2.41	0.00	0.00	1.19	1.61	2.01	3.22	3.04	2.89	0.00	0.00
Repayment of Debt	0.00	-0.12	-1.89	-5.85	-432	-12	-765	-5.64	-78	11	363
Payment of Dividends	-3.18	-3.49	-4.39	-4.84	-6.00	-12	-12	-10	-5.92	-5.43	-5.07
Other Financing Activities, Net	281	45	13	-18	-566	5.46	-118	-100	-172	-124	-87
Effect of Exchange Rate Changes	-	-	0.00	0.00	0.00	-0.12	-0.10	0.48	-1.74	0.33	0.08
Cash Interest Paid	2.37	2.43	3.49	16	33	60	41	8.21	5.26	11	21
Cash Income Taxes Paid	4.45	5.33	5.98	20	9.15	-2.82	6.22	8.04	14	14	20

This table details how cash moves in and out of Pathward Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-80	231	-19	63	83	-140	296	-324	-49	-141	439
Net Cash From Operating Activities	-4.33	-18	42	141	4.82	114	22	193	103	135	-77
Net Cash From Continuing Operating Activities	-4.33	-18	42	141	4.82	114	22	193	103	135	-77
Net Income / (Loss) Continuing Operations	24	24	28	55	46	36	28	66	42	34	32
Consolidated Net Income / (Loss)	24	24	28	55	46	36	28	66	42	34	32
Provision For Loan Losses	-1.30	-2.65	9.78	37	1.77	9.04	9.89	26	5.88	0.84	12
Depreciation Expense	16	14	15	20	15	15	15	15	14	14	15
Non-Cash Adjustments to Reconcile Net Income	-33	-56	-3.22	-4.38	-60	22	6.65	50	3.31	-44	25
Changes in Operating Assets and Liabilities, net	-9.85	2.05	-7.17	34	2.55	31	-37	37	38	130	-160
Net Cash From Investing Activities	122	100	45	-177	-490	-300	-44	63	-167	-80	298
Net Cash From Continuing Investing Activities	122	100	45	-177	-490	-300	-44	63	-167	-80	298
Purchase of Property, Leasehold Improvements and Equipment	-77	-161	-166	-76	-136	-72	-108	-69	-51	-49	-55
Purchase of Investment Securities	-270	-264	-125	-183	-246	-148	-181	-166	-160	-202	-231
Sale of Property, Leasehold Improvements and Equipment	-	-	1.39	5.20	2.51	5.67	3.29	1.85	2.57	-7.71	5.71
Divestitures	-	-	-	-	-	-	0.00	-	-	-	600
Sale and/or Maturity of Investments	363	202	118	104	123	179	143	138	150	189	304
Other Investing Activities, net	105	323	218	-27	-234	-265	99	157	-109	-9.59	-326
Net Cash From Financing Activities	-197	150	-107	98	567	46	317	-579	15	-196	220
Net Cash From Continuing Financing Activities	-197	150	-107	98	567	46	317	-579	15	-196	220
Net Change in Deposits	-119	155	-77	114	404	282	347	-568	63	-556	656
Issuance of Common Equity	0.00	-	0.00	-	-	-	0.00	0.00	-	-	0.00
Repayment of Debt	-76	-0.59	-1.08	44	186	-217	-13	31	-31	377	-377
Payment of Dividends	-2.57	1.32	-1.40	-1.39	-1.33	-1.31	-1.30	-1.27	-1.26	-1.24	-1.20
Other Financing Activities, Net	-0.11	-26	-28	-56	-22	-17	-16	-41	-15	-16	-58
Effect of Exchange Rate Changes	-0.52	-1.43	0.39	0.06	0.50	-0.61	0.62	-0.58	-0.30	0.34	-2.02
Cash Interest Paid	2.12	0.48	0.48	3.80	1.28	5.26	4.17	8.44	3.38	4.92	2.91
Cash Income Taxes Paid	1.60	2.53	0.49	7.35	3.42	2.80	0.64	9.05	4.30	5.64	1.41

This table presents Pathward Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	9/30/2014	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024
Total Assets	2,054	2,530	4,006	5,228	5,835	6,183	6,092	6,691	6,747	7,536	7,549
Cash and Due from Banks	30	28	774	1,268	100	127	427	314	388	376	158
Trading Account Securities	1,423	1,602	2,089	2,257	2,020	1,407	1,361	1,922	1,925	1,841	1,774
Loans and Leases, Net of Allowance	0.00	0.00	-5.64	0.00	0.00	-29	0.00	0.00	0.00	0.00	0.00
Loans Held for Sale	493	706	-	0.00	16	149	184	56	21	78	689
Premises and Equipment, Net	16	17	19	19	40	254	42	45	246	39	39
Intangible Assets	2.59	34	29	52	71	53	42	343	335	330	326
Other Assets	89	106	1,065	1,534	3,285	3,913	3,728	4,011	3,832	4,872	4,563
Total Liabilities & Shareholders' Equity	2,054	2,530	4,006	5,228	5,835	6,183	6,092	6,691	6,747	7,536	7,549
Total Liabilities	1,879	2,258	3,671	4,794	5,087	5,339	5,245	5,819	6,102	6,885	6,710
Non-Interest Bearing Deposits	1,127	1,449	2,168	2,454	2,405	2,358	4,357	5,515	5,866	6,589	5,875
Short-Term Debt	10	544	1,095	1,405	426	646	-	-	0.00	13	377
Long-Term Debt	17	19	92	86	89	216	98	93	36	34	33
Other Long-Term Liabilities	0.33	0.33	4.60	-	-	131	-	211	200	249	424
Total Equity & Noncontrolling Interests	175	271	335	434	748	844	847	872	645	651	840
Total Preferred & Common Equity	175	271	335	434	744	840	844	871	645	652	840
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	175	271	335	434	744	840	844	871	645	652	840
Common Stock	95	171	185	258	566	581	595	605	618	629	639
Retained Earnings	84	98	127	167	213	253	235	259	245	279	354
Treasury Stock	-0.73	-0.31	0.00	-0.27	-1.99	-0.45	-3.68	-0.86	-4.84	-0.34	-0.25
Accumulated Other Comprehensive Income / (Loss)	-3.41	2.46	23	9.17	-33	6.34	18	7.60	-213	-255	-153
Noncontrolling Interest	-	-	-	0.00	3.57	4.05	3.60	1.16	-0.03	-1.01	-0.28

This table presents Pathward Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	6/30/2022	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024
Total Assets	6,728	6,659	6,868	7,459	7,927	7,437	7,530	7,622
Cash and Due from Banks	157	369	433	515	672	348	299	597
Trading Account Securities	2,000	1,888	1,864	1,952	1,886	1,814	1,759	1,512
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Loans Held for Sale	68	17	25	87	70	26	29	73
Premises and Equipment, Net	42	41	40	39	38	37	246	38
Intangible Assets	337	334	333	331	329	328	327	313
Other Assets	4,124	4,010	4,174	4,534	4,933	4,884	4,869	5,089
Total Liabilities & Shareholders' Equity	6,728	6,659	6,868	7,459	7,927	7,437	7,530	7,622
Total Liabilities	6,003	6,000	6,195	6,781	7,198	6,698	6,765	6,846
Non-Interest Bearing Deposits	5,711	5,789	5,903	6,307	6,936	6,368	6,432	6,519
Short-Term Debt	-	-	43	230	0.00	31	0.00	0.00
Long-Term Debt	17	35	35	34	34	33	33	33
Other Long-Term Liabilities	276	176	215	210	228	265	300	294
Total Equity & Noncontrolling Interests	725	659	673	678	729	739	765	776
Total Preferred & Common Equity	724	659	674	678	730	740	766	777
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	724	659	674	678	730	740	766	777
Common Stock	615	621	624	626	630	635	637	641
Retained Earnings	245	247	245	267	293	318	343	332
Treasury Stock	-4.62	-6.82	-6.94	-6.94	-5.24	-6.18	-6.18	-4.88
Accumulated Other Comprehensive Income / (Loss)	-131	-202	-188	-208	-188	-207	-208	-191
Noncontrolling Interest	0.67	-0.21	-0.55	-0.63	-0.51	-0.42	-0.51	-0.76

This table displays calculated financial ratios and metrics derived from Pathward Financial's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	9/30/2014	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.07%	19.79%	51.69%	49.04%	18.72%	54.49%	2.48%	10.24%	9.32%	17.19%	7.13%
EBITDA Growth	-3.82%	31.39%	54.10%	34.60%	-5.06%	60.92%	14.80%	22.61%	15.51%	-0.74%	3.83%
EBIT Growth	8.74%	4.32%	99.88%	42.06%	4.10%	70.60%	17.42%	36.03%	19.73%	-2.77%	9.15%
NOPAT Growth	17.10%	14.90%	83.99%	35.21%	16.42%	93.75%	7.92%	33.29%	9.34%	4.05%	2.32%
Net Income Growth	17.10%	14.90%	83.99%	35.21%	16.42%	93.75%	7.92%	33.29%	9.34%	4.05%	2.32%
EPS Growth	6.30%	5.14%	83.99%	35.21%	16.42%	49.10%	18.07%	48.98%	20.09%	13.88%	10.52%
Operating Cash Flow Growth	211.90%	90.66%	59.50%	52.86%	14.81%	38.66%	144.60%	24.49%	-53.78%	12.76%	49.63%
Free Cash Flow Firm Growth	-146.26%	-3,436.08%	-6.56%	45.44%	300.06%	-147.88%	354.24%	-85.45%	249.96%	-66.25%	-356.10%
Invested Capital Growth	19.52%	312.20%	82.39%	26.40%	-34.40%	35.12%	-44.57%	2.03%	-29.39%	2.40%	79.21%
Revenue Q/Q Growth	2.41%	5.29%	4.90%	6.08%	6.36%	6.21%	0.74%	2.79%	0.50%	5.67%	0.93%
EBITDA Q/Q Growth	-3.93%	12.47%	3.66%	-5.29%	0.86%	18.28%	-2.53%	1.26%	1.61%	5.08%	0.77%
EBIT Q/Q Growth	-4.19%	3.82%	7.97%	-10.80%	2.00%	24.90%	-4.43%	1.18%	2.75%	6.37%	1.78%
NOPAT Q/Q Growth	-0.70%	7.60%	4.29%	-8.67%	17.14%	13.52%	-6.22%	1.75%	4.86%	8.02%	-1.30%
Net Income Q/Q Growth	-0.70%	7.60%	4.29%	-8.67%	17.14%	13.52%	-6.22%	1.75%	4.86%	8.02%	-1.30%
EPS Q/Q Growth	-1.94%	4.31%	4.29%	-8.67%	17.14%	10.18%	-8.98%	0.69%	7.13%	9.11%	0.00%
Operating Cash Flow Q/Q Growth	-18.49%	18.95%	38.17%	7.95%	-7.86%	-2.92%	54.98%	-8.57%	-35.68%	77.84%	4.75%
Free Cash Flow Firm Q/Q Growth	16.14%	-2,087.93%	-258.55%	-20.46%	148.27%	35.86%	239.45%	-40.49%	16.30%	417.98%	-221.45%
Invested Capital Q/Q Growth	3.85%	248.04%	235.17%	140.60%	126.74%	44.65%	-9.06%	-0.57%	-8.12%	-25.95%	56.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	37.52%	41.15%	41.80%	37.75%	30.19%	31.45%	35.23%	39.19%	41.41%	35.07%	33.99%
EBIT Margin	19.00%	16.55%	21.80%	20.78%	18.22%	20.12%	23.05%	28.45%	31.16%	25.85%	26.34%
Profit (Net Income) Margin	16.03%	15.38%	18.66%	16.92%	16.60%	20.81%	21.92%	26.50%	26.51%	23.54%	22.48%
Tax Burden Percent	84.39%	92.96%	85.57%	81.45%	91.09%	103.44%	95.08%	93.16%	85.07%	91.04%	85.34%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	15.61%	7.04%	14.43%	18.55%	8.91%	-3.44%	4.92%	6.84%	14.93%	8.96%	14.66%
Return on Invested Capital (ROIC)	8.45%	3.48%	2.82%	2.61%	3.28%	6.83%	8.25%	15.26%	19.36%	24.05%	17.42%
ROIC Less NNEP Spread (ROIC-NNEP)	8.45%	3.48%	2.82%	2.61%	3.28%	6.83%	8.25%	15.26%	19.36%	24.05%	17.42%
Return on Net Nonoperating Assets (RNNOA)	1.44%	4.61%	8.14%	9.07%	5.56%	5.90%	4.68%	1.70%	1.64%	1.54%	5.35%
Return on Equity (ROE)	9.89%	8.09%	10.96%	11.67%	8.85%	12.73%	12.93%	16.96%	21.01%	25.59%	22.77%
Cash Return on Invested Capital (CROIC)	-9.34%	-118.42%	-55.53%	-20.72%	44.83%	-23.05%	65.60%	13.25%	53.82%	21.68%	-39.31%
Operating Return on Assets (OROA)	0.99%	0.85%	1.19%	1.19%	1.04%	1.63%	1.87%	2.45%	2.79%	2.55%	2.64%
Return on Assets (ROA)	0.84%	0.79%	1.02%	0.97%	0.95%	1.69%	1.78%	2.28%	2.37%	2.32%	2.25%
Return on Common Equity (ROCE)	9.89%	8.09%	10.96%	11.67%	8.82%	12.67%	12.87%	16.91%	20.99%	25.61%	22.79%
Return on Equity Simple (ROE_SIMPLE)	8.99%	6.65%	9.92%	10.34%	7.03%	12.06%	12.96%	16.74%	24.70%	25.45%	20.20%
Net Operating Profit after Tax (NOPAT)	16	18	33	45	52	101	109	146	159	166	170
NOPAT Margin	16.03%	15.38%	18.66%	16.92%	16.60%	20.81%	21.92%	26.50%	26.51%	23.54%	22.48%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	50.49%	51.77%	49.21%	45.46%	44.60%	39.32%	34.26%	32.80%	34.27%	31.09%	31.54%
Operating Expenses to Revenue	79.83%	82.21%	75.61%	75.23%	72.44%	68.45%	63.96%	62.50%	64.09%	66.00%	68.01%
Earnings before Interest and Taxes (EBIT)	19	19	39	55	57	98	115	156	187	182	199
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	37	48	74	100	95	153	176	215	249	247	257
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.16	1.01	1.48	1.62	1.40	1.44	0.78	1.90	1.47	1.85	1.96
Price to Tangible Book Value (P/TBV)	1.18	1.37	1.84	2.49	2.83	2.52	1.33	3.14	3.07	3.75	3.21
Price to Revenue (P/Rev)	2.08	2.34	2.78	2.66	3.32	2.48	1.31	3.01	1.58	1.71	2.18
Price to Earnings (P/E)	12.96	15.21	14.88	15.71	20.24	12.43	6.25	11.68	6.08	7.36	9.79
Dividend Yield	1.58%	1.31%	0.90%	0.69%	0.67%	0.63%	1.06%	0.39%	0.61%	0.44%	0.30%
Earnings Yield	7.72%	6.57%	6.72%	6.36%	4.94%	8.05%	15.99%	8.56%	16.46%	13.58%	10.21%
Enterprise Value to Invested Capital (EV/IC)	0.99	0.97	0.60	0.48	1.16	1.14	0.35	1.49	0.88	1.25	1.52
Enterprise Value to Revenue (EV/Rev)	2.06	6.90	5.10	3.50	4.64	4.00	0.66	2.61	0.99	1.24	2.52
Enterprise Value to EBITDA (EV/EBITDA)	5.48	16.78	12.20	9.26	15.38	12.71	1.87	6.66	2.40	3.54	7.41
Enterprise Value to EBIT (EV/EBIT)	10.82	41.73	23.39	16.83	25.49	19.86	2.86	9.18	3.19	4.80	9.56
Enterprise Value to NOPAT (EV/NOPAT)	12.82	44.89	27.33	20.66	27.98	19.20	3.01	9.85	3.75	5.28	11.20
Enterprise Value to Operating Cash Flow (EV/OCF)	7.80	16.47	11.57	7.74	10.62	10.18	0.70	2.47	2.22	2.89	4.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	2.05	0.00	0.38	11.34	1.35	5.85	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.16	2.08	3.55	3.43	0.69	1.02	0.12	0.11	0.06	0.07	0.49
Long-Term Debt to Equity	0.10	0.07	0.28	0.20	0.12	0.26	0.12	0.11	0.06	0.05	0.04
Financial Leverage	0.17	1.33	2.89	3.48	1.70	0.86	0.57	0.11	0.08	0.06	0.31
Leverage Ratio	11.79	10.27	10.78	12.00	9.36	7.55	7.26	7.44	8.86	11.02	10.12
Compound Leverage Factor	11.79	10.27	10.78	12.00	9.36	7.55	7.26	7.44	8.86	11.02	10.12
Debt to Total Capital	13.69%	67.50%	78.00%	77.42%	40.77%	50.52%	10.39%	9.62%	5.29%	6.72%	32.83%
Short-Term Debt to Total Capital	5.14%	65.17%	71.93%	72.98%	33.72%	37.87%	0.00%	0.00%	0.00%	1.86%	30.16%
Long-Term Debt to Total Capital	8.55%	2.33%	6.07%	4.44%	7.05%	12.65%	10.39%	9.62%	5.29%	4.86%	2.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.28%	0.24%	0.38%	0.12%	0.00%	-0.14%	-0.02%
Common Equity to Total Capital	86.31%	32.50%	22.00%	22.58%	58.91%	49.24%	89.23%	90.26%	94.72%	93.42%	67.19%
Debt to EBITDA	0.75	11.66	15.95	14.87	5.41	5.63	0.56	0.43	0.14	0.19	1.60
Net Debt to EBITDA	-0.06	11.09	5.56	2.22	4.36	4.80	-1.87	-1.03	-1.41	-1.33	0.98
Long-Term Debt to EBITDA	0.47	0.40	1.24	0.85	0.94	1.41	0.56	0.43	0.14	0.14	0.13
Debt to NOPAT	1.76	31.21	35.75	33.17	9.84	8.51	0.90	0.64	0.23	0.28	2.42
Net Debt to NOPAT	-0.13	29.68	12.45	4.95	7.93	7.26	-3.01	-1.52	-2.21	-1.98	1.49
Long-Term Debt to NOPAT	1.10	1.08	2.78	1.90	1.70	2.13	0.90	0.64	0.23	0.20	0.20
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.34%	0.50%	0.45%	0.28%	0.07%	-0.08%	-0.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-17	-614	-655	-357	714	-342	870	127	443	149	-383
Operating Cash Flow to CapEx	2,242.66%	1,679.09%	1,133.69%	1,780.27%	1,325.84%	120.66%	963.72%	1,234.39%	61.26%	69.70%	164.21%
Free Cash Flow to Firm to Interest Expense	-7.24	-257.32	-159.99	-24.01	25.53	-5.56	25.73	18.44	90.91	13.75	-18.03
Operating Cash Flow to Interest Expense	10.76	20.62	19.19	8.07	4.92	3.10	13.82	84.75	55.17	27.87	21.36
Operating Cash Flow Less CapEx to Interest Expense	10.28	19.39	17.50	7.61	4.55	0.53	12.39	77.89	-34.90	-12.12	8.35
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.05	0.06	0.06	0.08	0.08	0.09	0.09	0.10	0.10
Fixed Asset Turnover	5.74	6.94	9.89	13.99	10.54	3.30	3.37	12.71	4.13	4.94	19.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	203	835	1,523	1,925	1,262	1,706	946	965	681	697	1,250
Invested Capital Turnover	0.53	0.23	0.15	0.15	0.20	0.33	0.38	0.58	0.73	1.02	0.78
Increase / (Decrease) in Invested Capital	33	632	688	402	-662	443	-760	19	-284	16	552
Enterprise Value (EV)	201	810	908	928	1,463	1,945	329	1,436	598	875	1,900
Market Capitalization	204	275	494	706	1,045	1,206	655	1,656	950	1,204	1,649
Book Value per Share	$28.27	$39.05	$39.30	$46.47	$56.95	$22.17	$24.37	$27.28	$22.21	$24.85	$33.63
Tangible Book Value per Share	$27.85	$28.90	$31.57	$30.33	$28.31	$12.61	$14.22	$16.54	$10.67	$12.26	$20.57
Total Capital	203	835	1,523	1,925	1,262	1,706	946	965	681	697	1,250
Total Debt	28	563	1,188	1,490	515	862	98	93	36	47	410
Total Long-Term Debt	17	19	92	86	89	216	98	93	36	34	33
Net Debt	-2.11	536	414	222	415	735	-329	-221	-352	-329	252
Capital Expenditures (CapEx)	1.15	2.93	6.92	6.74	10	158	48	47	439	435	276
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	28	563	1,188	1,490	515	862	98	93	36	47	410
Total Depreciation and Amortization (D&A)	18	29	36	45	38	55	61	59	62	65	58
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.86	$0.89	$1.32	$1.62	$1.68	$2.49	$2.94	$4.38	$5.26	$6.01	$6.63
Adjusted Weighted Average Basic Shares Outstanding	18.58M	24.66M	27.56M	29.00M	39.41M	37.58M	33.45M	30.55M	28.47M	25.99M	24.12M
Adjusted Diluted Earnings per Share	$0.84	$0.89	$1.31	$1.61	$1.67	$2.49	$2.94	$4.38	$5.26	$5.99	$6.62
Adjusted Weighted Average Diluted Shares Outstanding	18.58M	24.66M	27.56M	29.00M	39.41M	37.58M	33.45M	30.55M	28.47M	25.99M	24.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	18.58M	24.66M	27.56M	29.00M	39.41M	37.58M	33.45M	30.55M	28.47M	25.99M	24.12M
Normalized Net Operating Profit after Tax (NOPAT)	16	19	33	45	52	75	111	148	160	169	172
Normalized NOPAT Margin	16.10%	16.45%	18.66%	16.92%	16.60%	15.47%	22.30%	26.98%	26.60%	23.96%	22.82%
Pre Tax Income Margin	19.00%	16.55%	21.80%	20.78%	18.22%	20.12%	23.05%	28.45%	31.16%	25.85%	26.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.76	8.14	9.49	3.71	2.05	1.59	3.40	22.80	38.45	16.75	9.36
NOPAT to Interest Expense	6.55	7.56	8.12	3.02	1.87	1.65	3.23	21.24	32.71	15.25	7.99
EBIT Less CapEx to Interest Expense	7.28	6.91	7.80	3.25	1.68	-0.98	1.97	15.93	-51.62	-23.25	-3.65
NOPAT Less CapEx to Interest Expense	6.07	6.34	6.43	2.57	1.50	-0.93	1.80	14.37	-57.36	-24.75	-5.02
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	20.26%	19.35%	13.21%	10.77%	11.48%	11.45%	11.13%	7.16%	3.72%	3.27%	2.99%
Augmented Payout Ratio	20.26%	19.35%	13.21%	10.77%	11.48%	11.45%	11.13%	7.16%	3.72%	3.27%	2.99%

This table displays calculated financial ratios and metrics derived from Pathward Financial's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.65%	2.50%	-5.29%	18.02%	30.96%	30.65%	8.65%	8.23%	6.98%	4.32%	6.58%
EBITDA Growth	-21.19%	11.82%	-45.48%	14.73%	35.41%	32.08%	-2.51%	13.23%	-3.78%	4.00%	9.35%
EBIT Growth	-31.25%	28.14%	-53.69%	11.08%	58.61%	47.76%	-3.90%	25.13%	-3.43%	10.33%	12.75%
NOPAT Growth	-40.19%	44.18%	-53.64%	10.51%	91.30%	51.05%	-1.79%	18.33%	-7.80%	-6.15%	13.30%
Net Income Growth	-40.19%	44.18%	-53.64%	10.51%	91.30%	51.05%	-1.79%	18.33%	-7.80%	-6.15%	13.30%
EPS Growth	-37.19%	71.43%	-51.00%	19.88%	121.05%	59.52%	8.16%	28.64%	-1.19%	0.00%	21.70%
Operating Cash Flow Growth	-106.68%	-113.91%	-73.03%	5.39%	211.32%	728.57%	-47.03%	36.41%	2,039.40%	17.96%	-441.36%
Free Cash Flow Firm Growth	131.25%	12,575.95%	378.27%	26.58%	-161.30%	-93.47%	-116.17%	-92.18%	219.67%	-2,680.73%	62.60%
Invested Capital Growth	-23.59%	-29.39%	-24.42%	-12.17%	27.05%	2.40%	9.91%	7.07%	-15.22%	79.21%	6.15%
Revenue Q/Q Growth	-34.83%	-2.32%	21.60%	52.46%	-27.69%	-2.55%	1.13%	51.87%	-28.52%	-4.98%	3.32%
EBITDA Q/Q Growth	-35.76%	-21.16%	33.09%	70.22%	-24.19%	-23.10%	-1.76%	97.70%	-35.58%	-16.88%	3.28%
EBIT Q/Q Growth	-47.00%	-25.85%	53.27%	84.42%	-24.32%	-30.93%	-0.32%	140.13%	-41.59%	-21.08%	1.87%
NOPAT Q/Q Growth	-52.42%	1.12%	17.90%	94.81%	-17.63%	-20.15%	-23.34%	134.71%	-35.82%	-18.73%	-7.45%
Net Income Q/Q Growth	-52.42%	1.12%	17.90%	94.81%	-17.63%	-20.15%	-23.34%	134.71%	-35.82%	-18.73%	-7.45%
EPS Q/Q Growth	-54.22%	10.53%	16.67%	103.06%	-15.58%	-20.24%	-20.90%	141.51%	-35.16%	-19.28%	-3.73%
Operating Cash Flow Q/Q Growth	-103.23%	-320.55%	332.69%	233.84%	-96.59%	2,274.73%	-80.39%	759.72%	-46.56%	30.93%	-156.74%
Free Cash Flow Firm Q/Q Growth	100.72%	21.74%	-17.85%	-36.94%	-197.20%	112.96%	-303.52%	130.51%	1,386.64%	-379.60%	97.05%
Invested Capital Q/Q Growth	-13.27%	-8.12%	1.90%	8.17%	25.45%	-25.95%	9.38%	5.37%	-0.65%	56.52%	-35.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	37.45%	30.23%	33.08%	36.93%	38.72%	30.56%	29.68%	38.64%	34.82%	30.46%	30.45%
EBIT Margin	24.41%	18.53%	23.36%	28.25%	29.57%	20.96%	20.66%	32.67%	26.69%	22.17%	21.85%
Profit (Net Income) Margin	18.90%	19.56%	18.97%	24.24%	27.61%	22.62%	17.15%	26.50%	23.79%	20.35%	18.23%
Tax Burden Percent	77.41%	105.57%	81.21%	85.78%	93.36%	107.92%	83.00%	81.12%	89.14%	91.80%	83.40%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	22.59%	-5.57%	18.79%	14.22%	6.64%	-7.92%	17.00%	18.88%	10.86%	8.20%	16.60%
Return on Invested Capital (ROIC)	13.21%	14.29%	13.95%	18.95%	21.87%	23.12%	16.89%	25.10%	20.44%	15.77%	17.74%
ROIC Less NNEP Spread (ROIC-NNEP)	13.21%	14.29%	13.95%	18.95%	21.87%	23.12%	16.89%	25.10%	20.44%	15.77%	17.74%
Return on Net Nonoperating Assets (RNNOA)	0.91%	1.21%	1.19%	2.23%	4.38%	1.48%	0.83%	2.52%	4.21%	4.84%	0.79%
Return on Equity (ROE)	14.12%	15.51%	15.14%	21.18%	26.25%	24.59%	17.72%	27.62%	24.66%	20.61%	18.53%
Cash Return on Invested Capital (CROIC)	44.50%	53.82%	43.51%	29.37%	-5.59%	21.68%	13.25%	15.75%	36.22%	-39.31%	16.08%
Operating Return on Assets (OROA)	2.12%	1.66%	1.94%	2.58%	2.78%	2.07%	2.03%	3.36%	2.66%	2.22%	2.15%
Return on Assets (ROA)	1.64%	1.75%	1.58%	2.21%	2.59%	2.23%	1.69%	2.73%	2.37%	2.04%	1.79%
Return on Common Equity (ROCE)	14.10%	15.49%	15.14%	21.18%	26.24%	24.61%	17.73%	27.64%	24.68%	20.63%	18.55%
Return on Equity Simple (ROE_SIMPLE)	20.99%	0.00%	19.18%	19.55%	22.63%	0.00%	22.65%	23.71%	22.45%	0.00%	22.31%
Net Operating Profit after Tax (NOPAT)	24	24	28	55	46	36	28	66	42	34	32
NOPAT Margin	18.90%	19.56%	18.97%	24.24%	27.61%	22.62%	17.15%	26.50%	23.79%	20.35%	18.23%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	42.88%	42.06%	34.26%	24.54%	33.90%	34.55%	34.09%	25.63%	32.55%	36.73%	34.00%
Operating Expenses to Revenue	76.62%	83.62%	70.12%	55.65%	69.36%	73.42%	73.27%	56.80%	69.98%	77.33%	71.21%
Earnings before Interest and Taxes (EBIT)	31	23	35	65	49	34	34	81	47	37	38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	47	37	50	84	64	49	48	96	62	51	53
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.55	1.47	1.85	1.69	1.83	1.85	1.90	1.74	1.87	1.96	2.28
Price to Tangible Book Value (P/TBV)	2.90	3.07	3.74	3.33	3.58	3.75	3.45	3.12	3.26	3.21	3.82
Price to Revenue (P/Rev)	1.88	1.58	2.06	1.81	1.86	1.71	1.93	1.75	1.91	2.18	2.32
Price to Earnings (P/E)	7.56	6.08	9.91	8.86	8.22	7.36	8.47	7.39	8.38	9.79	10.31
Dividend Yield	0.52%	0.61%	0.47%	0.48%	0.43%	0.44%	0.38%	0.40%	0.35%	0.30%	0.27%
Earnings Yield	13.22%	16.46%	10.09%	11.29%	12.16%	13.58%	11.81%	13.53%	11.94%	10.21%	9.70%
Enterprise Value to Invested Capital (EV/IC)	1.33	0.88	1.27	1.04	1.05	1.25	0.98	1.25	1.46	1.52	1.49
Enterprise Value to Revenue (EV/Rev)	1.65	0.99	1.49	1.25	1.49	1.24	1.04	1.36	1.56	2.52	1.58
Enterprise Value to EBITDA (EV/EBITDA)	4.02	2.40	4.26	3.58	4.22	3.54	3.03	3.90	4.57	7.41	4.63
Enterprise Value to EBIT (EV/EBIT)	5.41	3.19	6.02	5.11	5.79	4.80	4.12	5.08	5.96	9.56	5.96
Enterprise Value to NOPAT (EV/NOPAT)	6.49	3.75	6.99	5.94	6.46	5.28	4.51	5.71	6.77	11.20	6.98
Enterprise Value to Operating Cash Flow (EV/OCF)	2.36	2.22	5.74	4.85	5.82	2.89	2.63	2.99	2.69	4.19	3.41
Enterprise Value to Free Cash Flow (EV/FCFF)	2.59	1.35	2.52	3.32	0.00	5.85	7.72	8.18	3.69	0.00	9.57
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.02	0.06	0.05	0.12	0.39	0.07	0.05	0.09	0.04	0.49	0.04
Long-Term Debt to Equity	0.02	0.06	0.05	0.05	0.05	0.05	0.05	0.05	0.04	0.04	0.04
Financial Leverage	0.07	0.08	0.09	0.12	0.20	0.06	0.05	0.10	0.21	0.31	0.04
Leverage Ratio	8.60	8.86	9.61	9.57	10.12	11.02	10.51	10.13	10.39	10.12	10.33
Compound Leverage Factor	8.60	8.86	9.61	9.57	10.12	11.02	10.51	10.13	10.39	10.12	10.33
Debt to Total Capital	2.24%	5.29%	5.04%	10.33%	28.05%	6.72%	4.41%	8.01%	4.17%	32.83%	4.12%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	5.73%	24.42%	1.86%	0.00%	3.86%	0.00%	30.16%	0.00%
Long-Term Debt to Total Capital	2.24%	5.29%	5.04%	4.60%	3.63%	4.86%	4.41%	4.15%	4.17%	2.67%	4.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.09%	0.00%	-0.03%	-0.07%	-0.07%	-0.14%	-0.07%	-0.05%	-0.06%	-0.02%	-0.09%
Common Equity to Total Capital	97.67%	94.72%	94.99%	89.75%	72.02%	93.42%	95.66%	92.04%	95.89%	67.19%	95.97%
Debt to EBITDA	0.07	0.14	0.17	0.36	1.12	0.19	0.14	0.25	0.13	1.60	0.13
Net Debt to EBITDA	-0.57	-1.41	-1.61	-1.63	-1.07	-1.33	-2.60	-1.10	-1.04	0.98	-2.16
Long-Term Debt to EBITDA	0.07	0.14	0.17	0.16	0.15	0.14	0.14	0.13	0.13	0.13	0.13
Debt to NOPAT	0.11	0.23	0.28	0.59	1.72	0.28	0.20	0.37	0.19	2.42	0.19
Net Debt to NOPAT	-0.93	-2.21	-2.64	-2.70	-1.64	-1.98	-3.86	-1.62	-1.55	1.49	-3.25
Long-Term Debt to NOPAT	0.11	0.23	0.28	0.26	0.22	0.20	0.20	0.19	0.19	0.20	0.19
Noncontrolling Interest Sharing Ratio	0.13%	0.07%	0.03%	-0.02%	0.00%	-0.08%	-0.05%	-0.07%	-0.08%	-0.09%	-0.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	253	308	253	159	-155	20	-41	12	185	-518	-15
Operating Cash Flow to CapEx	-5.65%	-11.32%	25.70%	199.25%	3.62%	173.52%	21.43%	289.26%	213.51%	239.25%	-155.82%
Free Cash Flow to Firm to Interest Expense	144.00	665.92	251.99	48.56	-82.35	4.27	-6.97	1.47	60.13	-135.39	-4.92
Operating Cash Flow to Interest Expense	-2.47	-39.42	42.25	43.10	2.56	24.31	3.83	22.81	33.45	35.27	-24.67
Operating Cash Flow Less CapEx to Interest Expense	-46.16	-387.61	-122.11	21.47	-68.20	10.30	-14.04	14.92	17.78	20.53	-40.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.09	0.09	0.08	0.09	0.09	0.10	0.10	0.10	0.10	0.10	0.10
Fixed Asset Turnover	13.88	4.13	13.92	15.14	16.53	4.94	18.09	19.12	5.25	19.30	20.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	741	681	694	751	942	697	763	804	799	1,250	810
Invested Capital Turnover	0.70	0.73	0.74	0.78	0.79	1.02	0.98	0.95	0.86	0.78	0.97
Increase / (Decrease) in Invested Capital	-229	-284	-224	-104	201	16	69	53	-143	552	47
Enterprise Value (EV)	986	598	884	782	991	875	745	1,002	1,163	1,900	1,210
Market Capitalization	1,126	950	1,218	1,138	1,243	1,204	1,384	1,286	1,430	1,649	1,775
Book Value per Share	$24.66	$22.21	$23.16	$24.45	$25.21	$24.85	$28.63	$29.03	$30.30	$33.63	$32.22
Tangible Book Value per Share	$13.20	$10.67	$11.43	$12.38	$12.89	$12.26	$15.71	$16.16	$17.36	$20.57	$19.24
Total Capital	741	681	694	751	942	697	763	804	799	1,250	810
Total Debt	17	36	35	78	264	47	34	64	33	410	33
Total Long-Term Debt	17	36	35	35	34	34	34	33	33	33	33
Net Debt	-141	-352	-334	-355	-251	-329	-638	-284	-266	252	-564
Capital Expenditures (CapEx)	77	161	165	71	133	66	105	67	48	56	49
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	17	36	35	78	264	47	34	64	33	410	33
Total Depreciation and Amortization (D&A)	16	14	15	20	15	15	15	15	14	14	15
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.76	$0.84	$0.98	$1.99	$1.69	$1.35	$1.06	$2.56	$1.66	$1.35	$1.29
Adjusted Weighted Average Basic Shares Outstanding	29.05M	28.47M	27.56M	26.91M	26.23M	25.99M	25.49M	25.27M	24.98M	24.12M	23.85M
Adjusted Diluted Earnings per Share	$0.76	$0.84	$0.98	$1.99	$1.68	$1.34	$1.06	$2.56	$1.66	$1.34	$1.29
Adjusted Weighted Average Diluted Shares Outstanding	29.05M	28.47M	27.56M	26.91M	26.23M	25.99M	25.49M	25.27M	24.98M	24.12M	23.85M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	29.05M	28.47M	27.56M	26.91M	26.23M	25.99M	25.49M	25.27M	24.98M	24.12M	23.85M
Normalized Net Operating Profit after Tax (NOPAT)	24	16	28	56	48	24	28	67	43	34	32
Normalized NOPAT Margin	19.31%	12.97%	18.98%	24.42%	29.16%	14.67%	17.15%	27.16%	24.30%	20.35%	18.23%
Pre Tax Income Margin	24.41%	18.53%	23.36%	28.25%	29.57%	20.96%	20.66%	32.67%	26.69%	22.17%	21.85%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	17.55	49.43	34.89	19.67	25.97	7.17	5.74	9.55	15.30	9.72	12.21
NOPAT to Interest Expense	13.58	52.18	28.34	16.87	24.24	7.73	4.76	7.74	13.64	8.93	10.18
EBIT Less CapEx to Interest Expense	-26.14	-298.77	-129.46	-1.97	-44.79	-6.84	-12.13	1.66	-0.37	-5.02	-3.62
NOPAT Less CapEx to Interest Expense	-30.10	-296.02	-136.02	-4.76	-46.51	-6.28	-13.11	-0.14	-2.03	-5.82	-5.65
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	6.57%	3.72%	7.48%	6.22%	4.53%	3.27%	3.22%	4.77%	4.83%	2.99%	2.87%
Augmented Payout Ratio	6.57%	3.72%	7.48%	6.22%	4.53%	3.27%	3.22%	4.77%	4.83%	2.99%	2.87%

Financials Breakdown Chart

Key Financial Trends

Pathward Financial (NASDAQ: CASH) has shown several notable financial trends over the last four years through Q1 2025. Here's a summary that highlights key points from its income statements, cash flow statements, and balance sheets:

Steady Net Interest Income Growth: Net interest income increased from roughly $72.2 million in Q3 2022 to $116.1 million in Q1 2025, demonstrating strong growth in primary revenue drivers such as loans and leases interest income.
Consistent Profitability: Pathward has remained consistently profitable with net income attributable to common shareholders rising from around $22.4 million in Q3 2022 to $31.4 million in Q1 2025, supporting stable earnings per share growth (from $0.76 to $1.29 diluted EPS).
Solid Total Revenue Increases: Total revenues have seen an upward trend from about $126.1 million in Q3 2022 to $173.5 million in Q1 2025, indicating improved operational performance and non-interest income growth.
Robust Cash Position: Cash and equivalents surged from about $157.3 million in Q3 2022 to nearly $597.4 million by Q1 2025, bolstering liquidity and financial flexibility.
Equity Growth: Total common equity increased to $777.2 million by Q1 2025 from $724.1 million in Q3 2022 reflecting capital retention and earnings growth.

Elevated Non-Interest Operating Expenses: Total non-interest expenses increased notably from ~$114.6 million in Q3 2022 to ~$123.6 million in Q1 2025, driven primarily by rises in salaries and employee benefits, depreciation, and other operating expenses, which could pressure margins.
Loan Loss Provision Variability: Provisions for credit losses have been volatile — negative provision recorded in Q4 2022 but spiked up to $12 million by Q1 2025, signaling some credit risk concerns or changes in loan loss expectations.
Fluctuations in Non-Interest Income: While non-interest income grew overall, some quarters, like Q4 2024, showed negative other service charges impacting total non-interest income, indicating potential variability in fee-based revenue streams.

Significant Changes in Deposits and Debt: The firm experienced large swings in net changes in deposits and significant repayments and issuances of debt, with repayment of $377 million debt in Q1 2025 and prior quarters showing varied financing activity, potentially impacting leverage and interest expense volatility.
Operating Cash Flow Downturn in Recent Quarter: Net cash from continuing operating activities in Q1 2025 was negative $76.6 million, a sharp decline compared to positive operating cash flows in prior quarters, indicating potential operational or working capital pressures.
Increasing Impairment and Insurance Claims: Impairment charges and property & liability insurance claims have seen rises over the years, e.g., impairment of nearly $1 million in Q1 2025 and insurance claims around $5.2 million, which may negatively affect profitability.

Summary: Overall, Pathward Financial exhibits strong growth in net interest income, total revenue, net income, and equity, supported by a solid liquidity position. However, investors should watch for increasing operational expenses, some volatility in credit loss provisions, and recent negative operating cash flow performance, which may introduce risks or pressures. The balance sheet remains robust with stable equity and asset growth, but swings in financing activities and deposits signal active capital management.

Retail investors should consider both the fundamental profitability progress and the cash flow and expense trends when evaluating Pathward Financial's stock prospects.

10/09/25 07:41 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Pathward Financial's Financials

When does Pathward Financial's fiscal year end?

According to the most recent income statement we have on file, Pathward Financial's financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has Pathward Financial's net income changed over the last 10 years?

Pathward Financial's net income appears to be on an upward trend, with a most recent value of $169.65 million in 2024, rising from $15.71 million in 2014. The previous period was $165.81 million in 2023. See Pathward Financial's forecast for analyst expectations on what’s next for the company.

How has Pathward Financial's revenue changed over the last 10 years?

Over the last 10 years, Pathward Financial's total revenue changed from $98 million in 2014 to $754.71 million in 2024, a change of 670.1%.

How much debt does Pathward Financial have?

Pathward Financial's total liabilities were at $6.71 billion at the end of 2024, a 2.5% decrease from 2023, and a 257.0% increase since 2014.

How much cash does Pathward Financial have?

In the past 10 years, Pathward Financial's cash and equivalents has ranged from $27.66 million in 2015 to $1.27 billion in 2017, and is currently $158.34 million as of their latest financial filing in 2024.

How has Pathward Financial's book value per share changed over the last 10 years?

Over the last 10 years, Pathward Financial's book value per share changed from 28.27 in 2014 to 33.63 in 2024, a change of 19.0%.

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This page (NASDAQ:CASH) was last updated on 10/9/2025 by MarketBeat.com Staff

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Pathward Financial (CASH) Financials

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Pathward Financial (CASH) Financials

Annual Income Statements for Pathward Financial

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Quarterly Cash Flow Statements for Pathward Financial

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Quarterly Balance Sheets for Pathward Financial

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Quarterly Metrics And Ratios for Pathward Financial

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Key Financial Trends

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