NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 (NEWTI) Financials

$25.12 -0.12 (-0.46%)

As of 09:30 AM Eastern

Annual Income Statements for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

This table shows NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	84	32	46	49	58
Consolidated Net Income / (Loss)	84	32	47	51	61
Net Income / (Loss) Continuing Operations	84	32	47	51	61
Total Pre-Tax Income	85	39	45	69	80
Total Operating Income	104	40	87	111	122
Total Gross Profit	147	86	167	195	204
Total Revenue	165	106	245	299	327
Operating Revenue	165	106	245	299	327
Total Cost of Revenue	18	20	77	104	123
Operating Cost of Revenue	18	20	66	78	85
Other Cost of Revenue	0.00	0.00	12	26	39
Total Operating Expenses	43	46	80	85	81
Selling, General & Admin Expense	13	15	35	37	44
Depreciation Expense	0.30	0.24	2.88	1.78	0.67
Other Operating Expenses / (Income)	30	31	42	46	36
Total Other Income / (Expense), net	-19	-1.54	-42	-42	-42
Interest Expense	22	26	52	52	57
Interest & Investment Income	9.90	25	11	11	14
Income Tax Expense	1.33	6.46	-1.96	18	19
Preferred Stock Dividends Declared	0.00	0.00	1.45	1.60	2.34
Basic Earnings per Share	$3.69	$1.34	$1.89	$1.97	$2.21
Weighted Average Basic Shares Outstanding	-	-	24.71M	26.29M	28.83M
Diluted Earnings per Share	$3.69	$1.34	$1.88	$1.96	$2.18
Weighted Average Diluted Shares Outstanding	-	-	24.71M	26.29M	28.83M
Weighted Average Basic & Diluted Shares Outstanding	-	-	24.71M	26.29M	28.83M

This table shows NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	10	9.25	11	12	18	8.97	13	17	18	12	14
Consolidated Net Income / (Loss)	11	9.65	11	12	18	9.37	14	18	20	13	15
Net Income / (Loss) Continuing Operations	11	9.65	11	12	18	9.37	14	18	20	13	15
Total Pre-Tax Income	15	13	15	17	24	12	19	25	24	17	19
Total Operating Income	24	24	26	27	29	21	28	36	37	22	26
Total Gross Profit	47	44	45	47	53	41	48	58	57	43	46
Total Revenue	65	69	72	73	75	76	80	86	86	76	82
Operating Revenue	65	69	72	73	75	76	80	86	86	76	82
Total Cost of Revenue	17	25	27	26	21	35	32	28	29	33	35
Operating Cost of Revenue	13	21	21	19	12	21	23	20	20	23	23
Other Cost of Revenue	4.37	4.02	5.80	6.93	9.47	14	9.12	7.71	8.40	9.61	12
Total Operating Expenses	23	21	20	20	25	20	19	22	20	21	21
Selling, General & Admin Expense	12	9.62	7.13	8.82	12	8.27	8.46	11	17	7.87	8.03
Other Operating Expenses / (Income)	11	10	12	10	13	12	11	11	2.88	13	13
Total Other Income / (Expense), net	-9.03	-11	-11	-10	-4.86	-9.30	-9.69	-11	-13	-4.97	-6.50
Interest Expense	13	13	13	13	14	14	13	14	16	14	13
Interest & Investment Income	2.63	2.01	2.57	2.72	3.26	4.82	3.55	2.94	3.12	8.77	6.23
Income Tax Expense	3.98	3.45	3.84	5.12	5.43	2.28	5.07	7.17	4.95	3.69	4.54
Preferred Stock Dividends Declared	0.41	0.40	0.40	0.40	0.40	0.40	0.40	0.47	1.06	1.06	1.06
Basic Earnings per Share	$0.43	$0.38	$0.43	$0.45	$0.71	$0.36	$0.53	$0.68	$0.64	$0.43	$0.48
Weighted Average Basic Shares Outstanding	24.71M	24.73M	25.96M	26.31M	26.29M	26.34M	26.32M	28.89M	28.83M	28.86M	28.88M
Diluted Earnings per Share	$0.44	$0.38	$0.43	$0.45	$0.70	$0.35	$0.52	$0.67	$0.64	$0.43	$0.47
Weighted Average Diluted Shares Outstanding	24.71M	24.73M	25.96M	26.31M	26.29M	26.34M	26.32M	28.89M	28.83M	28.86M	28.88M
Weighted Average Basic & Diluted Shares Outstanding	24.71M	24.73M	25.96M	26.31M	26.29M	26.34M	26.32M	28.89M	28.83M	28.86M	28.88M

This table details how cash moves in and out of NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	191	-61	3.52	199	-71
Net Cash From Operating Activities	141	-62	-169	-153	-579
Net Cash From Continuing Operating Activities	196	-62	-169	-153	-579
Net Income / (Loss) Continuing Operations	84	32	47	51	61
Consolidated Net Income / (Loss)	84	32	47	51	61
Depreciation Expense	4.25	-24	-0.34	-8.93	5.07
Amortization Expense	2.65	2.49	3.38	3.73	3.08
Non-Cash Adjustments To Reconcile Net Income	-27	-90	-196	-199	-632
Changes in Operating Assets and Liabilities, net	132	17	-23	-0.01	-16
Net Cash From Investing Activities	0.00	-0.01	-172	-209	-245
Net Cash From Continuing Investing Activities	0.00	-0.01	-172	-209	-245
Purchase of Property, Plant & Equipment	0.00	-0.01	-0.46	-0.44	-10
Acquisitions	0.00	0.00	11	0.00	0.00
Purchase of Investments	0.00	0.00	-15	-26	-0.09
Divestitures	-	-	0.00	0.00	4.00
Sale and/or Maturity of Investments	0.00	0.00	42	133	100
Other Investing Activities, net	0.00	0.00	-210	-316	-339
Net Cash From Financing Activities	-5.49	1.18	345	561	753
Net Cash From Continuing Financing Activities	-5.49	1.18	345	561	753
Repayment of Debt	-227	-85	-423	-359	-452
Repurchase of Common Equity	0.00	0.00	0.00	-0.40	-1.49
Payment of Dividends	-70	-65	-14	-20	-28
Issuance of Debt	243	152	443	424	733
Issuance of Preferred Equity	0.00	0.00	19	0.00	48
Issuance of Common Equity	50	2.02	0.05	14	5.36
Other Financing Activities, net	-1.58	-3.38	320	502	449
Cash Interest Paid	20	25	66	79	97
Cash Income Taxes Paid	0.00	0.00	6.88	7.43	13

This table details how cash moves in and out of NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-72	-21	46	-8.67	181	-87	-81	3.64	93	93	-8.01
Net Cash From Operating Activities	-68	-39	2.92	-26	-92	-61	-200	-167	-151	-257	-163
Net Cash From Continuing Operating Activities	-68	-39	5.88	-20	-102	-61	-200	-167	-151	-257	-163
Net Income / (Loss) Continuing Operations	11	9.65	11	12	18	9.37	14	18	20	13	15
Consolidated Net Income / (Loss)	11	9.65	11	12	18	9.37	14	18	20	13	15
Depreciation Expense	0.26	0.36	-1.51	0.17	-11	-0.96	1.48	0.77	3.79	2.56	-0.30
Amortization Expense	2.32	0.93	1.06	0.61	1.14	0.08	0.97	0.76	1.28	1.82	-0.90
Non-Cash Adjustments To Reconcile Net Income	-90	-55	-3.67	-33	-103	-54	-229	-171	-180	-260	-158
Changes in Operating Assets and Liabilities, net	8.66	5.45	-0.93	0.02	-7.31	-16	13	-16	3.89	-15	-18
Net Cash From Investing Activities	-34	-44	-54	-25	-86	-79	-45	-70	-51	-85	-140
Net Cash From Continuing Investing Activities	-34	-44	-54	-25	-86	-79	-45	-70	-51	-85	-140
Purchase of Property, Plant & Equipment	-0.17	-0.06	-0.07	-0.25	-0.06	-0.04	-0.05	-0.01	-10	-0.09	0.03
Sale and/or Maturity of Investments	0.56	4.07	-0.20	4.89	53	29	0.03	67	22	25	23
Other Investing Activities, net	-21	-41	63	-147	-80	-112	-45	-122	-79	-112	-163
Net Cash From Financing Activities	29	62	94	36	369	53	164	241	296	435	295
Net Cash From Continuing Financing Activities	29	62	94	36	369	53	164	241	296	435	295
Repayment of Debt	-22	-26	-37	-66	-27	-93	-17	-313	-73	-295	-27
Payment of Dividends	-4.77	-4.77	-5.02	-5.23	-5.24	-5.23	-5.24	-5.71	-12	-6.48	-6.48
Issuance of Debt	27	44	28	75	72	159	69	405	143	298	36
Issuance of Common Equity	0.05	0.00	-	0.03	0.07	0.05	0.11	5.12	0.08	0.07	0.10
Other Financing Activities, net	30	49	94	33	330	-7.76	117	101	239	439	292
Cash Interest Paid	17	19	18	22	20	25	21	26	26	30	31
Cash Income Taxes Paid	4.33	0.07	3.26	3.88	0.21	0.00	0.92	9.77	1.80	0.23	15

This table presents NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,057	999	1,430	2,060	2,745
Total Current Assets	2.40	126	66	50	31
Cash & Equivalents	2.40	54	15	6.94	4.20
Restricted Cash	-	72	31	28	26
Plant, Property, & Equipment, net	0.00	0.00	324	591	0.00
Total Noncurrent Assets	296	606	1,302	1,971	2,692
Long-Term Investments	0.39	17	19	19	26
Noncurrent Note & Lease Receivables	-	0.00	3.64	3.59	-45
Goodwill	-	0.00	30	15	15
Noncurrent Deferred & Refundable Income Taxes	-	0.00	5.23	-	0.00
Other Noncurrent Operating Assets	295	590	1,243	1,934	2,697
Total Liabilities & Shareholders' Equity	1,057	999	1,430	2,060	2,745
Total Liabilities	653	624	1,180	1,764	2,347
Total Current Liabilities	11	21	506	1,025	43
Accounts Payable	11	21	37	41	43
Total Noncurrent Liabilities	642	602	675	738	2,304
Long-Term Debt	472	539	644	708	2,238
Noncurrent Deferred & Payable Income Tax Liabilities	13	19	0.00	2.24	11
Other Noncurrent Operating Liabilities	157	44	31	28	55
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	404	375	249	296	398
Total Preferred & Common Equity	404	375	249	296	398
Preferred Stock	0.00	0.00	20	20	48
Total Common Equity	404	375	229	277	349
Common Stock	368	355	201	219	254
Retained Earnings	36	21	28	58	95
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.15	-0.02	-0.00

This table presents NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	1,250	1,439	1,380	1,510	1,617	1,674	2,137	2,126	2,399	2,887	3,185
Total Current Assets	297	115	86	839	81	298	9.83	4.90	29	27	28
Cash & Equivalents	27	49	16	12	37	9.69	10	10	3.98	5.22	5.19
Restricted Cash	73	67	71	36	37	28	24	23	25	22	23
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	431	492	673	725	0.00	0.00	0.00
Total Noncurrent Assets	977	1,324	1,294	1,021	1,484	1,338	2,032	1,942	2,370	2,842	3,139
Long-Term Investments	26	-	-	18	19	19	19	16	-	26	26
Noncurrent Note & Lease Receivables	1.29	-4.76	-8.21	3.77	3.77	3.61	3.86	3.94	-45	-47	-53
Goodwill	28	28	27	30	30	15	15	15	15	15	15
Noncurrent Deferred & Refundable Income Taxes	8.23	4.62	8.66	2.72	1.94	0.00	-	0.19	-	6.27	11
Other Noncurrent Operating Assets	913	1,296	1,266	966	1,430	1,301	1,994	1,906	2,401	2,842	3,141
Total Liabilities & Shareholders' Equity	1,250	1,439	1,380	1,510	1,617	1,674	2,137	2,126	2,399	2,887	3,185
Total Liabilities	1,032	1,218	1,153	1,255	1,343	1,392	1,834	1,814	2,012	2,482	2,772
Total Current Liabilities	293	45	44	560	662	705	1,014	1,128	43	43	43
Accounts Payable	45	41	39	42	47	45	42	39	38	43	43
Total Noncurrent Liabilities	738	1,173	1,110	695	681	688	821	686	1,969	2,440	2,728
Long-Term Debt	697	1,145	1,081	662	652	656	774	657	1,927	2,409	2,705
Noncurrent Deferred & Payable Income Tax Liabilities	3.52	0.00	0.00	-	-	4.70	5.04	0.00	5.34	0.00	0.00
Other Noncurrent Operating Liabilities	37	28	29	33	29	27	42	28	37	30	24
Commitments & Contingencies	-	-	-	-	-	-	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	218	221	227	254	274	282	302	312	387	405	413
Total Preferred & Common Equity	219	221	227	254	274	282	302	312	387	405	413
Preferred Stock	20	20	20	20	20	20	20	20	48	48	48
Total Common Equity	199	201	207	234	254	262	283	292	339	357	365
Common Stock	192	193	193	202	216	217	221	222	257	255	255
Retained Earnings	7.05	9.08	14	33	38	45	62	70	82	102	110
Accumulated Other Comprehensive Income / (Loss)	-0.08	-0.20	-0.18	-0.14	-0.14	0.03	0.01	0.01	0.01	-0.01	-0.01

This table displays calculated financial ratios and metrics derived from NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	28,887,295.00
DEI Adjusted Shares Outstanding	-	-	-	-	28,887,295.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	2.01
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	-35.64%	130.20%	22.39%	9.19%
EBITDA Growth	0.00%	-82.09%	380.45%	17.10%	23.88%
EBIT Growth	0.00%	-58.71%	115.62%	27.18%	10.68%
NOPAT Growth	0.00%	-67.32%	169.91%	-9.74%	13.12%
Net Income Growth	0.00%	-61.60%	46.48%	7.45%	18.99%
EPS Growth	0.00%	-63.69%	40.30%	4.26%	11.22%
Operating Cash Flow Growth	0.00%	-144.29%	-171.11%	9.58%	-278.55%
Free Cash Flow Firm Growth	0.00%	0.00%	-94.79%	14.32%	95.94%
Invested Capital Growth	0.00%	0.00%	199.78%	57.38%	5.20%
Revenue Q/Q Growth	0.00%	0.00%	15.76%	-3.06%	0.07%
EBITDA Q/Q Growth	0.00%	0.00%	61.23%	-4.13%	6.41%
EBIT Q/Q Growth	0.00%	0.00%	21.94%	8.39%	2.51%
NOPAT Q/Q Growth	0.00%	0.00%	28.50%	3.11%	3.65%
Net Income Q/Q Growth	0.00%	0.00%	38.15%	17.23%	2.05%
EPS Q/Q Growth	0.00%	0.00%	39.26%	15.29%	-2.68%
Operating Cash Flow Q/Q Growth	0.00%	54.89%	-366.18%	-18.46%	-11.51%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-100.94%	93.26%
Invested Capital Q/Q Growth	0.00%	0.00%	23.53%	40.44%	11.69%
Profitability Metrics	-	-	-	-	-
Gross Margin	89.18%	81.01%	68.36%	65.22%	62.23%
EBITDA Margin	63.30%	17.62%	36.77%	35.18%	39.91%
Operating Margin	63.22%	37.93%	35.52%	36.92%	37.42%
EBIT Margin	59.12%	37.93%	35.52%	36.92%	37.42%
Profit (Net Income) Margin	50.95%	30.40%	19.34%	16.98%	18.50%
Tax Burden Percent	98.45%	83.33%	104.31%	74.03%	75.66%
Interest Burden Percent	87.53%	96.18%	52.20%	62.14%	65.36%
Effective Tax Rate	1.55%	16.67%	-4.31%	25.97%	24.34%
Return on Invested Capital (ROIC)	0.00%	13.29%	8.97%	4.20%	3.71%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	11.32%	2.77%	2.35%	2.22%
Return on Net Nonoperating Assets (RNNOA)	0.00%	1.89%	6.19%	14.45%	13.73%
Return on Equity (ROE)	0.00%	15.18%	15.16%	18.65%	17.44%
Cash Return on Invested Capital (CROIC)	0.00%	-186.71%	-90.97%	-40.39%	-1.36%
Operating Return on Assets (OROA)	0.00%	3.92%	7.16%	6.34%	5.09%
Return on Assets (ROA)	0.00%	3.14%	3.90%	2.91%	2.52%
Return on Common Equity (ROCE)	0.00%	15.18%	14.68%	17.30%	15.74%
Return on Equity Simple (ROE_SIMPLE)	0.00%	8.61%	19.00%	17.16%	0.00%
Net Operating Profit after Tax (NOPAT)	103	34	91	82	93
NOPAT Margin	62.24%	31.60%	37.06%	27.33%	28.31%
Net Nonoperating Expense Percent (NNEP)	0.00%	1.97%	6.21%	1.85%	1.49%
Return On Investment Capital (ROIC_SIMPLE)	-	3.67%	6.73%	4.16%	3.51%
Cost of Revenue to Revenue	10.82%	18.99%	31.64%	34.78%	37.77%
SG&A Expenses to Revenue	7.91%	13.93%	14.48%	12.38%	13.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.96%	43.08%	32.84%	28.31%	24.81%
Earnings before Interest and Taxes (EBIT)	98	40	87	111	122
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	105	19	90	105	131
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.94	1.39	1.21	0.91
Price to Tangible Book Value (P/TBV)	0.00	0.94	1.61	1.28	0.95
Price to Revenue (P/Rev)	1.03	3.34	1.31	1.12	0.97
Price to Earnings (P/E)	2.01	10.98	6.97	6.82	5.47
Dividend Yield	14.06%	18.94%	5.55%	5.95%	6.90%
Earnings Yield	49.63%	9.11%	14.35%	14.66%	18.29%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.49	0.88	0.82	1.00
Enterprise Value to Revenue (EV/Rev)	0.00	7.07	5.47	6.50	7.79
Enterprise Value to EBITDA (EV/EBITDA)	0.00	40.15	14.89	18.49	19.53
Enterprise Value to EBIT (EV/EBIT)	0.00	18.65	15.41	17.62	20.83
Enterprise Value to NOPAT (EV/NOPAT)	0.00	22.38	14.77	23.80	27.53
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	1.44	4.41	5.64	5.63
Long-Term Debt to Equity	0.00	1.44	2.59	2.39	5.63
Financial Leverage	0.00	0.17	2.24	6.15	6.19
Leverage Ratio	0.00	2.64	3.89	6.40	6.92
Compound Leverage Factor	0.00	2.54	2.03	3.98	4.53
Debt to Total Capital	0.00%	58.96%	81.51%	84.93%	84.92%
Short-Term Debt to Total Capital	0.00%	0.00%	33.67%	48.92%	0.00%
Long-Term Debt to Total Capital	0.00%	58.96%	47.83%	36.01%	84.92%
Preferred Equity to Total Capital	0.00%	0.00%	1.47%	1.00%	1.83%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	41.04%	17.03%	14.06%	13.26%
Debt to EBITDA	0.00	28.80	12.20	15.85	17.15
Net Debt to EBITDA	0.00	21.21	11.11	15.11	16.72
Long-Term Debt to EBITDA	0.00	28.80	7.16	6.72	17.15
Debt to NOPAT	0.00	16.05	12.11	20.40	24.18
Net Debt to NOPAT	0.00	11.82	11.03	19.45	23.57
Long-Term Debt to NOPAT	0.00	16.05	7.10	8.65	24.18
Altman Z-Score	0.00	0.73	0.19	-0.09	0.39
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	3.16%	7.24%	9.79%
Liquidity Ratios	-	-	-	-	-
Current Ratio	0.00	5.86	0.13	0.05	0.71
Quick Ratio	0.00	2.51	0.09	0.03	0.10
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-472	-919	-788	-34
Operating Cash Flow to CapEx	0.00%	-567,436.36%	-36,947.38%	-34,855.13%	-5,664.39%
Free Cash Flow to Firm to Interest Expense	0.00	-18.01	-17.62	-15.02	-0.60
Operating Cash Flow to Interest Expense	6.39	-2.38	-3.24	-2.92	-10.20
Operating Cash Flow Less CapEx to Interest Expense	6.39	-2.38	-3.25	-2.93	-10.38
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.10	0.20	0.17	0.14
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.65	0.00
Accounts Payable Turnover	0.00	1.25	2.64	2.67	2.95
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	292.56	138.44	136.87	123.79
Cash Conversion Cycle (CCC)	0.00	-292.56	-138.44	-136.87	-123.79
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	505	1,515	2,385	2,557
Invested Capital Turnover	0.00	0.42	0.24	0.15	0.13
Increase / (Decrease) in Invested Capital	0.00	505	1,010	869	126
Enterprise Value (EV)	0.00	752	1,339	1,948	2,548
Market Capitalization	170	355	320	336	318
Book Value per Share	$0.00	$15.37	$9.30	$10.51	$12.09
Tangible Book Value per Share	$0.00	$15.37	$8.08	$9.95	$11.59
Total Capital	0.00	915	1,347	1,966	2,636
Total Debt	0.00	539	1,098	1,670	2,238
Total Long-Term Debt	0.00	539	644	708	2,238
Net Debt	0.00	397	1,000	1,592	2,182
Capital Expenditures (CapEx)	0.00	0.01	0.46	0.44	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-21	-65	-72	-43
Debt-free Net Working Capital (DFNWC)	0.00	104	14	-13	-12
Net Working Capital (NWC)	0.00	104	-440	-975	-12
Net Nonoperating Expense (NNE)	19	1.28	43	31	32
Net Nonoperating Obligations (NNO)	0.00	130	1,266	2,089	2,160
Total Depreciation and Amortization (D&A)	6.91	-22	3.04	-5.20	8.15
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-20.16%	-26.45%	-24.15%	-13.14%
Debt-free Net Working Capital to Revenue	0.00%	98.02%	5.63%	-4.42%	-3.76%
Net Working Capital to Revenue	0.00%	98.02%	-179.69%	-325.62%	-3.76%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.89	$1.97	$2.21
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	24.71M	26.29M	28.83M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.88	$1.96	$2.18
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	24.71M	26.29M	28.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	24.71M	26.29M	28.83M
Normalized Net Operating Profit after Tax (NOPAT)	103	34	61	82	93
Normalized NOPAT Margin	62.24%	31.60%	24.87%	27.33%	28.31%
Pre Tax Income Margin	51.75%	36.48%	18.54%	22.94%	24.46%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	4.42	1.54	1.67	2.11	2.15
NOPAT to Interest Expense	4.66	1.28	1.74	1.56	1.63
EBIT Less CapEx to Interest Expense	4.42	1.54	1.66	2.10	1.97
NOPAT Less CapEx to Interest Expense	4.66	1.28	1.73	1.55	1.45
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	83.36%	199.76%	29.89%	39.82%	46.34%
Augmented Payout Ratio	83.36%	199.76%	29.89%	40.62%	48.81%

This table displays calculated financial ratios and metrics derived from NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	26,290,668.00	26,342,027.00	26,321,852.00	28,887,295.00	28,887,295.00	28,858,921.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	26,290,668.00	26,342,027.00	26,321,852.00	28,887,295.00	28,887,295.00	28,858,921.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	0.34	0.51	0.66	0.64	0.43	0.47
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	212.10%	29.82%	22.41%	22.65%	15.40%	9.84%	11.05%	17.21%	0.27%	0.40%	2.13%
EBITDA Growth	192.88%	60.14%	23.87%	16.10%	-29.07%	-19.66%	29.38%	68.11%	22.98%	31.80%	-20.88%
EBIT Growth	1,084.32%	33.24%	31.82%	12.26%	19.92%	-11.54%	11.30%	31.70%	8.82%	5.32%	-9.86%
NOPAT Growth	1,217.83%	-60.49%	39.61%	1.71%	26.47%	-3.45%	9.73%	34.43%	12.55%	2.73%	-5.78%
Net Income Growth	588.25%	-47.98%	56.11%	9.30%	68.90%	-2.93%	25.20%	50.00%	6.64%	43.07%	6.63%
EPS Growth	588.89%	-48.65%	59.26%	4.65%	59.09%	-7.89%	20.93%	48.89%	-8.57%	22.86%	-9.62%
Operating Cash Flow Growth	-203.94%	66.76%	103.38%	-125.32%	-35.21%	-56.96%	-6,935.92%	-551.85%	-65.30%	-324.12%	18.27%
Free Cash Flow Firm Growth	0.00%	31.06%	58.10%	62.63%	14.62%	-27.43%	-31.22%	-25.19%	89.10%	78.66%	22.82%
Invested Capital Growth	199.78%	67.56%	43.03%	38.42%	57.38%	51.06%	39.25%	34.85%	5.20%	7.75%	21.89%
Revenue Q/Q Growth	5.97%	-6.68%	-3.11%	1.46%	-0.30%	1.31%	5.63%	7.23%	0.20%	0.00%	7.45%
EBITDA Q/Q Growth	9.30%	-5.89%	-10.37%	11.83%	-33.23%	6.96%	54.09%	21.31%	12.18%	0.00%	-7.50%
EBIT Q/Q Growth	-1.92%	-11.62%	8.00%	6.80%	4.77%	-26.80%	35.89%	26.38%	2.85%	0.00%	16.30%
NOPAT Q/Q Growth	-12.80%	-10.74%	8.50%	0.23%	8.43%	-23.70%	23.36%	23.64%	14.91%	0.00%	13.14%
Net Income Q/Q Growth	-0.64%	-18.17%	13.42%	9.04%	53.54%	-48.88%	46.29%	30.64%	9.16%	0.00%	9.03%
EPS Q/Q Growth	2.33%	-22.45%	13.16%	4.65%	55.56%	-50.00%	48.57%	28.85%	-4.48%	0.00%	9.30%
Operating Cash Flow Q/Q Growth	-166.82%	26.38%	107.56%	-978.14%	-256.85%	33.73%	-229.16%	16.26%	9.51%	0.00%	36.57%
Free Cash Flow Firm Q/Q Growth	17.76%	35.75%	21.37%	13.21%	-87.89%	0.43%	18.98%	17.19%	82.88%	0.00%	-193.08%
Invested Capital Q/Q Growth	23.53%	8.39%	6.48%	-5.39%	40.44%	6.76%	-1.84%	-8.37%	11.69%	0.00%	11.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	73.06%	60.48%	63.97%	65.17%	71.35%	53.96%	59.63%	67.68%	66.52%	56.93%	56.67%
EBITDA Margin	40.87%	36.79%	34.03%	37.51%	25.12%	26.52%	38.69%	43.77%	49.00%	34.82%	29.97%
Operating Margin	36.88%	33.36%	37.17%	38.86%	38.33%	27.69%	35.63%	41.99%	43.10%	29.05%	31.44%
EBIT Margin	36.88%	31.09%	34.65%	36.48%	38.33%	27.69%	35.63%	41.99%	43.10%	29.05%	31.44%
Profit (Net Income) Margin	16.77%	12.67%	14.83%	15.94%	24.55%	12.39%	17.15%	20.90%	22.77%	17.65%	17.91%
Tax Burden Percent	73.15%	73.67%	74.04%	69.97%	77.14%	80.41%	73.00%	71.42%	79.79%	78.43%	76.30%
Interest Burden Percent	62.16%	55.33%	57.81%	62.46%	83.02%	55.62%	65.96%	69.69%	66.20%	77.46%	74.65%
Effective Tax Rate	26.85%	26.33%	25.96%	30.03%	22.86%	19.59%	27.00%	28.58%	20.21%	21.57%	23.70%
Return on Invested Capital (ROIC)	6.53%	5.14%	5.33%	5.74%	4.54%	3.22%	3.81%	4.91%	4.51%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	5.59%	4.33%	4.59%	5.05%	4.32%	2.82%	3.42%	4.45%	4.04%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	12.50%	20.33%	23.72%	23.96%	26.56%	18.60%	21.66%	22.07%	25.03%	0.00%	0.00%
Return on Equity (ROE)	19.03%	25.48%	29.05%	29.71%	31.10%	21.83%	25.47%	26.99%	29.54%	0.00%	0.00%
Cash Return on Invested Capital (CROIC)	-90.97%	-45.05%	-30.22%	-26.80%	-40.39%	-36.84%	-28.95%	-25.20%	-1.36%	-7.46%	-19.73%
Operating Return on Assets (OROA)	7.43%	6.34%	6.69%	7.38%	6.58%	4.65%	5.98%	6.74%	5.87%	0.00%	0.00%
Return on Assets (ROA)	3.38%	2.59%	2.86%	3.22%	4.21%	2.08%	2.88%	3.35%	3.10%	0.00%	0.00%
Return on Common Equity (ROCE)	18.43%	23.37%	26.76%	27.40%	28.85%	20.28%	23.75%	24.25%	26.65%	0.00%	0.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	15.12%	15.46%	15.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	17	19	20	20	22	17	21	26	30	17	20
NOPAT Margin	26.98%	24.58%	27.52%	27.19%	29.57%	22.27%	26.01%	29.99%	34.39%	22.79%	23.99%
Net Nonoperating Expense Percent (NNEP)	0.95%	0.82%	0.73%	0.70%	0.22%	0.41%	0.38%	0.47%	0.46%	0.17%	0.21%
Return On Investment Capital (ROIC_SIMPLE)	1.30%	-	-	-	1.12%	0.83%	1.03%	1.11%	1.12%	0.61%	0.63%
Cost of Revenue to Revenue	26.94%	39.52%	36.03%	34.83%	28.65%	46.04%	40.37%	32.32%	33.48%	43.07%	43.33%
SG&A Expenses to Revenue	18.32%	12.64%	9.66%	11.77%	15.43%	10.93%	14.00%	12.47%	19.44%	10.36%	9.85%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.18%	27.12%	26.80%	26.31%	33.03%	26.26%	24.00%	25.69%	23.42%	27.88%	25.23%
Earnings before Interest and Taxes (EBIT)	24	24	26	27	29	21	28	36	37	22	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	26	28	25	28	19	20	31	37	42	26	24
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.39	1.14	1.20	1.22	1.21	1.02	1.00	0.88	0.91	0.89	1.17
Price to Tangible Book Value (P/TBV)	1.61	1.31	1.36	1.29	1.28	1.08	1.05	0.91	0.95	0.93	1.22
Price to Revenue (P/Rev)	1.31	0.95	1.04	1.03	1.12	0.94	0.93	0.91	0.97	0.00	0.00
Price to Earnings (P/E)	6.97	7.25	7.52	7.63	6.82	5.90	5.65	5.14	5.47	0.00	0.00
Dividend Yield	5.55%	6.74%	5.89%	6.03%	5.95%	6.91%	6.85%	6.75%	6.90%	8.68%	5.13%
Earnings Yield	14.35%	13.78%	13.31%	13.11%	14.66%	16.94%	17.69%	19.45%	18.29%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.88	0.81	0.82	0.91	0.82	0.77	0.78	0.98	1.00	0.99	1.03
Enterprise Value to Revenue (EV/Rev)	5.47	4.84	4.96	5.03	6.50	6.43	6.20	6.86	7.79	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	14.89	13.47	13.80	14.13	18.49	19.61	18.13	18.28	19.53	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	15.41	14.67	14.77	15.22	17.62	18.27	17.60	18.78	20.83	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	14.77	18.57	18.49	19.56	23.80	24.29	23.51	25.10	27.53	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.41	4.60	4.59	4.59	5.64	5.72	5.45	4.98	5.63	5.95	6.54
Long-Term Debt to Equity	2.59	2.61	2.38	2.33	2.39	2.56	2.11	4.98	5.63	5.95	6.54
Financial Leverage	2.24	4.70	5.16	4.75	6.15	6.61	6.33	4.97	6.19	6.48	6.64
Leverage Ratio	3.89	5.84	6.18	6.00	6.40	6.55	6.39	6.09	6.92	7.11	7.32
Compound Leverage Factor	2.42	3.23	3.57	3.75	5.31	3.64	4.21	4.25	4.58	5.50	5.46
Debt to Total Capital	81.51%	82.15%	82.11%	82.12%	84.93%	85.11%	84.49%	83.28%	84.92%	85.62%	86.74%
Short-Term Debt to Total Capital	33.67%	35.64%	39.54%	40.51%	48.92%	47.00%	51.82%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	47.83%	46.52%	42.57%	41.61%	36.01%	38.12%	32.67%	83.28%	84.92%	85.62%	86.74%
Preferred Equity to Total Capital	1.47%	1.39%	1.29%	1.25%	1.00%	0.97%	0.98%	2.08%	1.83%	1.71%	1.55%
Noncontrolling Interests 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%
Common Equity to Total Capital	17.03%	16.46%	16.60%	16.63%	14.06%	13.91%	14.53%	14.63%	13.26%	12.67%	11.71%
Debt to EBITDA	12.20	11.57	11.86	11.78	15.85	17.21	15.82	15.71	17.15	0.00	0.00
Net Debt to EBITDA	11.11	10.63	10.73	11.05	15.11	16.54	15.22	15.47	16.72	0.00	0.00
Long-Term Debt to EBITDA	7.16	6.55	6.15	5.97	6.72	7.71	6.12	15.71	17.15	0.00	0.00
Debt to NOPAT	12.11	15.94	15.89	16.31	20.40	21.32	20.51	21.57	24.18	0.00	0.00
Net Debt to NOPAT	11.03	14.66	14.37	15.29	19.45	20.48	19.74	21.25	23.57	0.00	0.00
Long-Term Debt to NOPAT	7.10	9.03	8.24	8.26	8.65	9.55	7.93	21.57	24.18	0.00	0.00
Altman Z-Score	0.05	0.62	-0.03	0.12	-0.22	-0.25	-0.30	0.31	0.29	0.14	0.16
Noncontrolling Interest Sharing Ratio	3.16%	8.26%	7.88%	7.76%	7.24%	7.09%	6.73%	10.16%	9.79%	9.61%	9.36%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.13	1.50	0.12	0.42	0.05	0.01	0.00	0.67	0.71	0.64	0.65
Quick Ratio	0.09	0.75	0.10	0.05	0.03	0.02	0.02	0.09	0.10	0.12	0.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-992	-661	-520	-451	-847	-844	-684	-566	-97	-180	-528
Operating Cash Flow to CapEx	-41,057.58%	-67,849.12%	4,116.90%	-10,391.90%	-143,117.19%	-164,064.86%	-370,025.93%	-3,346,360.00%	-1,494.62%	-289,280.90%	0.00%
Free Cash Flow to Firm to Interest Expense	-75.02	-52.51	-38.89	-34.75	-62.77	-59.79	-51.64	-40.89	-6.20	-13.10	-41.44
Operating Cash Flow to Interest Expense	-5.12	-3.07	0.22	-1.98	-6.78	-4.30	-15.09	-12.09	-9.69	-18.73	-12.83
Operating Cash Flow Less CapEx to Interest Expense	-5.13	-3.08	0.21	-2.00	-6.79	-4.30	-15.10	-12.09	-10.34	-18.74	-12.83
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.20	0.19	0.20	0.17	0.17	0.17	0.16	0.14	0.00	0.00
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.65	0.00	0.54	0.00	0.00	0.00	0.00
Accounts Payable Turnover	2.64	2.33	2.46	2.77	2.67	2.72	2.79	2.94	2.95	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	138.44	156.88	148.59	131.92	136.87	134.37	130.79	124.26	123.79	0.00	0.00
Cash Conversion Cycle (CCC)	-138.44	-156.88	-148.59	-131.92	-136.87	-134.37	-130.79	-124.26	-123.79	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,515	1,685	1,795	1,698	2,385	2,546	2,499	2,290	2,557	2,743	3,046
Invested Capital Turnover	0.24	0.21	0.19	0.21	0.15	0.14	0.15	0.16	0.13	0.00	0.00
Increase / (Decrease) in Invested Capital	1,010	680	540	471	869	861	704	592	126	197	547
Enterprise Value (EV)	1,339	1,362	1,463	1,552	1,948	1,970	1,948	2,242	2,548	2,721	3,127
Market Capitalization	320	267	306	319	336	289	292	296	318	316	427
Book Value per Share	$9.30	$9.51	$10.28	$10.09	$10.51	$10.75	$11.10	$12.86	$12.09	$12.35	$12.65
Tangible Book Value per Share	$8.08	$8.29	$9.08	$9.52	$9.95	$10.19	$10.54	$12.31	$11.59	$11.85	$12.15
Total Capital	1,347	1,424	1,531	1,576	1,966	2,031	2,012	2,313	2,636	2,814	3,118
Total Debt	1,098	1,170	1,257	1,294	1,670	1,728	1,700	1,927	2,238	2,409	2,705
Total Long-Term Debt	644	662	652	656	708	774	657	1,927	2,238	2,409	2,705
Net Debt	1,000	1,076	1,137	1,214	1,592	1,661	1,636	1,898	2,182	2,356	2,651
Capital Expenditures (CapEx)	0.17	0.06	0.07	0.25	0.06	0.04	0.05	0.01	10	0.09	-0.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-65	711	-78	170	-72	-98	-128	-43	-43	-43	-43
Debt-free Net Working Capital (DFNWC)	14	787	24	232	-13	-50	-81	-14	-12	-15	-15
Net Working Capital (NWC)	-440	279	-581	-407	-975	-1,004	-1,124	-14	-12	-15	-15
Net Nonoperating Expense (NNE)	6.60	9.07	9.37	8.42	3.75	7.47	7.07	7.79	9.98	3.90	4.96
Net Nonoperating Obligations (NNO)	1,266	1,431	1,521	1,416	2,089	2,244	2,187	1,903	2,160	2,339	2,633
Total Depreciation and Amortization (D&A)	2.58	4.34	-0.46	0.77	-9.86	-0.89	2.45	1.52	5.07	4.38	-1.20
Debt-free, Cash-free Net Working Capital to Revenue	-26.45%	252.32%	-26.43%	55.15%	-24.15%	-32.03%	-40.82%	-13.21%	-13.14%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	5.63%	279.38%	8.19%	75.03%	-4.42%	-16.20%	-25.69%	-4.42%	-3.76%	0.00%	0.00%
Net Working Capital to Revenue	-179.69%	99.16%	-197.00%	-131.63%	-325.62%	-327.83%	-357.58%	-4.42%	-3.76%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.43	$0.38	$0.43	$0.45	$0.71	$0.36	$0.53	$0.68	$0.64	$0.43	$0.48
Adjusted Weighted Average Basic Shares Outstanding	24.71M	24.73M	25.96M	26.31M	26.29M	26.34M	26.32M	28.89M	28.83M	28.86M	28.88M
Adjusted Diluted Earnings per Share	$0.44	$0.38	$0.43	$0.45	$0.70	$0.35	$0.52	$0.67	$0.64	$0.43	$0.47
Adjusted Weighted Average Diluted Shares Outstanding	24.71M	24.73M	25.96M	26.31M	26.29M	26.34M	26.32M	28.89M	28.83M	28.86M	28.88M
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	24.71M	24.73M	25.96M	26.31M	26.29M	26.34M	26.32M	28.89M	28.83M	28.86M	28.88M
Normalized Net Operating Profit after Tax (NOPAT)	17	19	20	20	22	17	21	26	30	17	20
Normalized NOPAT Margin	26.98%	24.58%	27.52%	27.19%	29.57%	22.27%	26.01%	29.99%	34.39%	22.79%	23.99%
Pre Tax Income Margin	22.93%	17.20%	20.03%	22.78%	31.82%	15.40%	23.50%	29.26%	28.53%	22.50%	23.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.80	1.88	1.91	2.10	2.12	1.48	2.15	2.60	2.37	1.60	2.02
NOPAT to Interest Expense	1.32	1.49	1.52	1.57	1.64	1.19	1.57	1.86	1.89	1.26	1.54
EBIT Less CapEx to Interest Expense	1.79	1.88	1.91	2.09	2.11	1.48	2.15	2.60	1.72	1.60	2.02
NOPAT Less CapEx to Interest Expense	1.31	1.48	1.51	1.55	1.63	1.19	1.57	1.85	1.24	1.25	1.54
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.89%	49.23%	45.61%	45.61%	39.82%	40.96%	39.25%	36.11%	46.34%	0.00%	0.00%
Augmented Payout Ratio	29.89%	49.23%	45.61%	45.61%	40.62%	40.96%	40.32%	37.07%	48.81%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

NewtekOne’s latest results show continued earnings growth, but also a more leveraged balance sheet and persistently weak operating cash flow. These trends are particularly important for holders of the company’s 8.00% senior notes due 2028, because debt-service capacity and liquidity are more relevant than common-stock earnings alone.

Revenue has grown steadily. Second-quarter revenue increased from $60.3 million in 2023 to $71.9 million in 2024, $79.9 million in 2025 and $81.6 million in 2026. This represents growth of roughly 35% over the period.
Net income remains profitable and has generally improved. Second-quarter net income rose from $7.0 million in 2023 to $10.9 million in 2024, $13.7 million in 2025 and $14.6 million in 2026. Net income attributable to common shareholders reached $13.5 million in Q2 2026.
Interest expense declined sequentially in the latest quarter. Q2 2026 interest expense was $12.7 million, down from $13.7 million in Q1 2026 and $13.2 million in Q2 2025. Interest and investment income also remained meaningful at $6.2 million.
Shareholders’ equity has expanded. Total equity increased to $413.4 million at June 30, 2026, from $312.2 million at June 30, 2025. Retained earnings also rose to $109.9 million from $70.0 million over the same period, providing a larger equity cushion for creditors.
Recent financing activity has supported liquidity. Financing activities provided $295.1 million in Q2 2026 and $435.4 million in Q1 2026. This more than offset negative operating and investing cash flow in both quarters and helped limit the Q2 decline in cash to $8.0 million.
Cash flow is heavily affected by noncash and balance-sheet movements. Operating cash flow was negative $163.3 million in Q2 2026, but the result included a $158.2 million negative noncash adjustment. The large adjustments and sizable “other investing activities” make reported cash flow more volatile and difficult to interpret as a direct measure of recurring earnings power.
Cash and restricted cash remain modest relative to the balance sheet. Cash and equivalents totaled $5.2 million at June 30, 2026, while restricted cash was $22.7 million. Combined cash and restricted cash of $27.9 million was below the $33.3 million reported at June 30, 2025, although the company also has substantial operating assets and investment holdings.
Operating cash flow has been consistently weak in recent periods. NewtekOne reported negative operating cash flow of $199.8 million in Q2 2025, negative $257.5 million in Q1 2026 and negative $163.3 million in Q2 2026. The company has relied heavily on borrowing and other financing inflows rather than internally generated cash to fund cash needs.
Leverage has increased sharply. Long-term debt rose to approximately $2.70 billion at June 30, 2026, from $1.93 billion at September 30, 2025 and $657.3 million at June 30, 2025. Total liabilities reached $2.77 billion, or about 87% of total assets. The increase raises refinancing and interest-rate risks for senior-note investors.
Margins have deteriorated despite higher revenue. Gross profit increased to $46.2 million in Q2 2026, but gross margin fell to approximately 56.7%, compared with about 59.6% in Q2 2025, 63.1% in Q2 2024 and 65.2% in Q2 2023. Operating income also declined year over year to $25.7 million from $28.5 million.

For the 2028 senior notes, the key takeaway is mixed. NewtekOne continues to produce positive net income, growing revenue and a larger equity base, which are supportive factors. However, the company’s debt burden has expanded considerably, while operating cash flow remains negative and cash interest paid reached $31.2 million in Q2 2026. Investors should monitor debt issuance and repayment activity, unrestricted liquidity, recurring cash generation and the company’s ability to refinance maturities before 2028.

The reported figures also include restated periods and unusually large noncash adjustments, so quarter-to-quarter comparisons should be interpreted cautiously. In particular, the balance-sheet presentation changed substantially between 2025 and 2026, making some liquidity and leverage comparisons less precise than they would be under fully consistent classifications.

09/14/26 08:35 AM ETAI Generated. May Contain Errors.

NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's net income appears to be on a downward trend, with a most recent value of $60.51 million in 2025, falling from $84.14 million in 2021. The previous period was $50.85 million in 2024.

NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's total operating income in 2025 was $122.36 million, based on the following breakdown:

Total Gross Profit: $203.51 million
Total Operating Expenses: $81.14 million

Over the last 4 years, NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's total revenue changed from $165.16 million in 2021 to $327.01 million in 2025, a change of 98.0%.

NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's total liabilities were at $2.35 billion at the end of 2025, a 33.1% increase from 2024, and a 259.6% increase since 2021.

In the past 4 years, NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's cash and equivalents has ranged from $2.40 million in 2021 to $53.69 million in 2022, and is currently $4.20 million as of their latest financial filing in 2025.

Over the last 4 years, NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's book value per share changed from 0.00 in 2021 to 12.09 in 2025, a change of 1,209.5%.

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Financial statements for NASDAQ:NEWTI last updated on 9/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 (NEWTI) Financials

Financials Breakdown Chart

Key Financial Trends

NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 Financials - Frequently Asked Questions

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NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 (NEWTI) Financials

Annual Income Statements for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Quarterly Income Statements for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Annual Cash Flow Statements for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Quarterly Cash Flow Statements for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Annual Balance Sheets for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Quarterly Balance Sheets for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Annual Metrics And Ratios for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Quarterly Metrics And Ratios for NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028

Financials Breakdown Chart

Key Financial Trends

NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 Financials - Frequently Asked Questions

When does NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's financial year end?

How has NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's net income changed over the last 4 years?

What is NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's operating income?

How has NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's revenue changed over the last 4 years?

How much debt does NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 have?

How much cash does NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028 have?

How has NewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 2028's book value per share changed over the last 4 years?

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