TFS Financial (TFSL) Financials

$16.88 +0.27 (+1.63%)

As of 04:00 PM Eastern

Annual Income Statements for TFS Financial

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	73	81	89	85	67	83	81	75	75	80	91
Consolidated Net Income / (Loss)	73	81	89	85	80	83	81	75	75	80	91
Net Income / (Loss) Continuing Operations	73	81	89	85	67	83	81	75	75	80	91
Total Pre-Tax Income	109	122	133	121	102	100	100	92	93	100	115
Total Revenue	294	295	299	302	273	296	287	291	305	303	321
Net Interest Income / (Expense)	270	270	279	281	265	242	232	267	284	278	293
Total Interest Income	383	388	409	443	482	455	389	409	612	734	763
Loans and Leases Interest Income	369	376	394	423	459	441	382	396	566	664	706
Investment Securities Interest Income	9.57	9.39	9.04	11	-	9.71	3.82	5.50	14	18	19
Other Interest Income	4.60	3.43	5.51	8.96	10	4.89	3.64	8.14	32	52	38
Total Interest Expense	113	118	130	162	217	213	158	142	328	456	470
Deposits Interest Expense	94	90	87	102	143	140	97	77	174	293	309
Long-Term Debt Interest Expense	20	28	43	60	73	73	60	65	154	163	162
Total Non-Interest Income	24	25	20	22	20	53	55	24	21	25	29
Other Service Charges	12	11	4.32	12	4.58	18	12	13	12	12	13
Net Realized & Unrealized Capital Gains on Investments	4.52	6.16	2.18	3.38	1.87	28	33	1.14	0.50	2.75	5.34
Other Non-Interest Income	7.32	7.41	13	6.16	14	7.15	9.96	9.98	9.36	10.00	11
Provision for Credit Losses	-3.00	-8.00	-17	-11	-10	3.00	-9.00	1.00	-1.50	-1.50	2.50
Total Non-Interest Expense	188	181	182	192	194	192	196	198	213	204	204
Salaries and Employee Benefits	96	96	95	101	104	104	109	109	113	108	110
Net Occupancy & Equipment Expense	22	24	25	27	26	25	26	27	28	28	29
Marketing Expense	20	17	20	19	19	17	19	21	25	20	19
Property & Liability Insurance Claims	11	10	10	11	10	11	9.09	9.36	13	15	14
Other Operating Expenses	39	34	33	34	33	36	33	31	34	34	33
Income Tax Expense	37	42	44	36	22	17	19	17	18	21	24
Basic Earnings per Share	$0.25	$0.28	$0.32	$0.31	$0.29	$0.30	$0.29	$0.26	$0.27	$0.28	$0.32
Weighted Average Basic Shares Outstanding	289.94M	281.57M	277.21M	275.59M	275.40M	275.86M	276.69M	277.37M	277.44M	278.18M	278.72M
Diluted Earnings per Share	$0.25	$0.28	$0.32	$0.30	$0.28	$0.29	$0.29	$0.26	$0.26	$0.28	$0.32
Weighted Average Diluted Shares Outstanding	292.21M	283.79M	279.27M	277.30M	277.37M	277.80M	278.58M	278.69M	278.58M	279.14M	279.76M
Weighted Average Basic & Diluted Shares Outstanding	290.40M	287.70M	277.70M	275.50M	280.03M	560.49M	561.53M	560.82M	280.36M	280.71M	280.51M
Cash Dividends to Common per Share	$0.31	$0.43	$0.55	$0.76	$1.02	$1.11	$1.12	$1.13	$1.13	$1.13	$1.13

This table shows TFS Financial'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	9/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	20	21	21	20	18	22	21	22	26	22	23
Consolidated Net Income / (Loss)	20	21	21	20	18	22	21	22	26	22	23
Net Income / (Loss) Continuing Operations	20	21	21	20	18	22	21	22	26	22	23
Total Pre-Tax Income	23	26	26	25	23	28	27	27	32	28	30
Total Revenue	75	75	77	76	75	75	79	82	85	84	85
Net Interest Income / (Expense)	70	69	71	69	69	68	72	75	77	76	78
Total Interest Income	169	177	183	185	189	187	186	191	199	198	195
Loans and Leases Interest Income	155	162	163	166	172	172	172	177	185	185	184
Investment Securities Interest Income	4.14	4.40	4.48	4.66	4.69	4.46	4.76	4.82	4.71	4.24	3.99
Other Interest Income	9.84	11	16	14	11	10	9.69	9.10	9.01	8.59	7.97
Total Interest Expense	98	108	112	116	120	118	114	116	122	122	118
Deposits Interest Expense	56	64	73	76	80	78	75	77	79	79	74
Long-Term Debt Interest Expense	43	44	39	40	40	40	39	40	43	43	44
Total Non-Interest Income	5.10	6.32	5.72	6.25	6.42	6.50	7.07	7.05	8.16	8.05	7.44
Other Service Charges	3.02	2.64	3.09	3.27	2.96	2.71	3.20	3.59	3.20	2.96	2.98
Net Realized & Unrealized Capital Gains on Investments	-0.12	0.48	0.44	0.72	1.10	1.12	1.19	0.73	2.31	2.33	1.74
Other Non-Interest Income	2.20	3.19	2.19	2.25	2.36	2.68	2.68	2.73	2.65	2.76	2.72
Provision for Credit Losses	0.50	-1.00	-1.00	-0.50	1.00	-1.50	1.50	1.50	1.00	-1.00	0.00
Total Non-Interest Expense	51	50	52	51	51	48	51	53	52	56	55
Salaries and Employee Benefits	29	27	28	27	26	27	28	28	28	30	30
Net Occupancy & Equipment Expense	6.89	6.85	7.30	7.01	7.16	6.84	7.62	7.65	7.24	7.76	7.93
Marketing Expense	3.88	4.43	5.10	4.87	5.33	3.65	4.63	5.81	4.54	6.24	4.03
Property & Liability Insurance Claims	3.63	3.78	4.01	3.26	3.52	3.59	3.67	3.52	3.39	3.25	3.55
Other Operating Expenses	8.43	8.11	8.28	8.81	8.75	7.25	7.50	8.55	9.31	8.50	9.71
Income Tax Expense	3.93	5.42	5.19	5.28	4.84	5.96	5.51	5.84	6.44	6.22	6.60
Basic Earnings per Share	$0.07	$0.07	$0.07	$0.07	$0.07	$0.08	$0.07	$0.08	$0.09	$0.08	$0.08
Weighted Average Basic Shares Outstanding	277.44M	277.84M	278.18M	278.29M	278.18M	278.54M	278.73M	278.83M	278.72M	278.75M	278.86M
Diluted Earnings per Share	$0.06	$0.07	$0.07	$0.07	$0.07	$0.08	$0.07	$0.08	$0.09	$0.08	$0.08
Weighted Average Diluted Shares Outstanding	278.58M	279.00M	279.05M	279.22M	279.14M	279.58M	279.72M	279.87M	279.76M	279.91M	279.93M
Weighted Average Basic & Diluted Shares Outstanding	280.36M	280.71M	280.71M	280.71M	280.71M	280.80M	280.84M	280.69M	280.51M	280.57M	280.43M
Cash Dividends to Common per Share	-	$0.28	$0.28	$0.28	-	$0.28	$0.28	$0.28	-	$0.28	$0.28

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	9/30/2025
Net Change in Cash & Equivalents	-26	76	37	1.56	5.37	223	-9.71	-119	97	-3.03	-34
Net Cash From Operating Activities	102	85	101	92	103	122	83	39	91	89	82
Net Cash From Continuing Operating Activities	102	85	101	92	103	122	83	39	91	89	82
Net Income / (Loss) Continuing Operations	73	81	89	85	80	83	81	75	75	80	91
Consolidated Net Income / (Loss)	73	81	89	85	80	83	81	75	75	80	91
Provision For Loan Losses	-3.00	-8.00	-17	-11	-10	3.00	-9.00	1.00	-1.50	-1.50	2.50
Depreciation Expense	17	19	21	25	23	33	33	27	18	19	23
Non-Cash Adjustments to Reconcile Net Income	-12	-6.08	-18	-23	-25	-67	-108	-49	1.72	-17	-22
Changes in Operating Assets and Liabilities, net	27	-0.93	26	16	35	69	87	-14	-2.87	8.86	-12
Net Cash From Investing Activities	-600	-454	-755	-475	-342	148	547	-1,875	-1,009	-125	-384
Net Cash From Continuing Investing Activities	-600	-454	-755	-475	-342	148	547	-1,875	-1,009	-125	-384
Purchase of Property, Leasehold Improvements and Equipment	-5.52	-9.13	-4.15	-8.37	-3.78	-3.21	-1.34	-2.70	-5.10	-3.06	-11
Purchase of Investment Securities	-2,960	-3,120	-3,627	-3,494	-3,037	-206	-393	-5,572	-179	-168	-192
Sale and/or Maturity of Investments	2,366	2,675	2,876	519	2,856	4,589	5,817	3,699	2,725	3,038	3,606
Other Investing Activities, net	-	-	-	2,509	-158	-4,256	-4,875	-	-3,549	-2,992	-3,786
Net Cash From Financing Activities	472	445	691	384	244	-46	-640	1,717	1,015	33	267
Net Cash From Continuing Financing Activities	472	445	691	384	244	-46	-640	1,717	1,015	33	267
Net Change in Deposits	-368	46	-180	340	275	459	-232	-84	520	731	262
Issuance of Debt	1,045	737	1,161	332	603	-31	-425	600	767	-52	508
Repayment of Debt	-20	-186	-222	-286	-421	-337	-9.11	871	-78	-427	-427
Repurchase of Common Equity	-173	-128	-54	-20	-9.09	-2.32	-5.59	-6.29	-5.98	-1.93	-3.98
Payment of Dividends	-19	-23	-28	-38	-50	-55	-57	-58	-58	-59	-60
Other Financing Activities, Net	7.50	1.52	13	56	-154	-80	88	395	-130	-158	-12
Cash Interest Paid	93	90	124	162	225	213	115	114	364	533	529
Cash Income Taxes Paid	23	32	38	33	9.69	1.67	26	40	22	16	16

This table details how cash moves in and out of TFS Financial'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	9/30/2023	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
Net Change in Cash & Equivalents	31	85	43	-34	-97	2.21	-2.35	-11	-23	27	-19
Net Cash From Operating Activities	14	36	14	97	-59	46	21	27	-11	59	18
Net Cash From Continuing Operating Activities	14	36	14	97	-59	46	21	27	-11	59	18
Net Income / (Loss) Continuing Operations	20	21	21	20	18	22	21	22	26	22	23
Consolidated Net Income / (Loss)	20	21	21	20	18	22	21	22	26	22	23
Depreciation Expense	4.73	4.58	4.52	4.98	4.96	5.31	5.55	5.95	6.24	6.26	5.85
Non-Cash Adjustments to Reconcile Net Income	0.78	1.11	-7.85	-16	5.39	11	-2.86	-6.20	-24	13	-2.44
Changes in Operating Assets and Liabilities, net	-12	11	-2.17	88	-88	8.40	-3.99	4.00	-21	18	-9.02
Net Cash From Investing Activities	-285	-42	72	-43	-112	-2.73	-44	-264	-74	14	-8.37
Net Cash From Continuing Investing Activities	-285	-42	72	-43	-112	-2.73	-44	-264	-74	14	-8.37
Purchase of Property, Leasehold Improvements and Equipment	-1.05	-0.70	-0.81	-0.83	-0.72	-0.64	-6.95	-1.73	-2.14	-1.66	-4.25
Purchase of Investment Securities	-3,567	-115	-16	-24	-3,000	-86	-44	-35	-26	-28	-50
Sale and/or Maturity of Investments	769	844	670	744	776	883	828	866	1,029	1,027	929
Other Investing Activities, net	-	-770	-581	-762	-	-799	-821	-1,093	-1,074	-983	-882
Net Cash From Financing Activities	301	91	-44	-88	74	-41	20	226	62	-45	-29
Net Cash From Continuing Financing Activities	301	91	-44	-88	74	-41	20	226	62	-45	-29
Net Change in Deposits	388	463	8.27	80	180	14	180	-49	106	-77	-188
Issuance of Debt	-101	-142	75	-100	115	52	33	446	-12	34	367
Repayment of Debt	-76	-101	-151	-25	-151	-176	-100	-150	-0.48	-101	-27
Repurchase of Common Equity	-0.34	-1.92	-	-0.01	-0.00	-0.77	-	-0.74	-2.47	-2.99	-2.09
Payment of Dividends	-15	-15	-15	-15	-15	-15	-15	-15	-15	-15	-15
Other Financing Activities, Net	105	-113	38	-28	-55	85	-78	-4.85	-15	116	-164
Cash Interest Paid	118	123	132	137	141	137	128	130	133	128	119
Cash Income Taxes Paid	4.33	0.22	10	3.09	1.96	0.11	7.03	4.64	4.70	0.20	7.12

This table presents TFS 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	9/30/2025
Total Assets	12,369	12,906	13,693	14,137	14,542	14,642	14,057	15,790	16,918	17,091	17,456
Cash and Due from Banks	22	28	35	29	32	25	27	19	29	26	24
Interest Bearing Deposits at Other Banks	133	203	233	241	243	473	461	351	438	437	405
Trading Account Securities	585	518	537	533	552	37	431	458	508	544	521
Loans and Leases, Net of Allowance	11,188	11,709	12,419	-3.85	13,196	13,103	12,509	14,257	15,166	0.00	-74
Loans and Leases	11,259	11,771	12,468	39	13,235	13,150	12,573	14,330	15,243	-	0.00
Allowance for Loan and Lease Losses	72	62	49	42	39	47	64	73	77	-	74
Loans Held for Sale	0.12	4.69	0.35	-	-	-	-	9.66	3.26	-	58
Premises and Equipment, Net	57	61	61	63	62	42	37	35	35	33	40
Other Assets	384	382	406	13,275	458	963	592	661	739	16,050	745
Total Liabilities & Shareholders' Equity	12,369	12,906	13,693	14,137	14,542	14,642	14,057	15,790	16,918	17,091	17,456
Total Liabilities	10,640	11,246	12,003	12,379	12,846	12,970	12,325	13,946	14,991	15,228	15,562
Interest Bearing Deposits	8,372	8,424	8,252	8,595	8,870	9,337	9,103	9,038	9,574	10,309	10,560
Long-Term Debt	2,218	2,768	3,707	3,753	3,936	3,568	41	4,823	5,303	4,793	4,901
Other Long-Term Liabilities	-	-	-	-	40	-	89	84	113	98	102
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,729	1,660	1,690	1,758	1,697	1,672	1,732	1,844	1,927	1,863	1,894
Total Preferred & Common Equity	1,729	1,660	1,690	1,758	1,697	1,672	1,732	1,844	1,927	1,863	1,894
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	1,729	1,660	1,690	1,758	1,697	1,672	1,732	1,844	1,927	1,863	1,894
Common Stock	1,711	1,720	1,726	1,730	1,737	1,746	1,750	1,755	1,758	1,758	1,761
Retained Earnings	642	699	760	808	838	866	854	870	887	915	947
Treasury Stock	-549	-682	-736	-754	-765	-768	-768	-772	-776	-772	-774
Accumulated Other Comprehensive Income / (Loss)	-13	-20	-7.49	23	-69	-132	-68	23	85	-16	-21
Other Equity Adjustments	-62	-57	-53	-49	-44	-40	-36	-31	-27	-23	-18

This table presents TFS 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	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	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	16,129	16,262	16,595	17,054	17,017	17,035	17,058	17,112	17,376	17,499	17,480
Cash and Due from Banks	32	28	23	46	27	29	33	36	29	27	25
Interest Bearing Deposits at Other Banks	412	393	413	506	567	531	433	427	424	430	412
Trading Account Securities	473	483	513	525	520	523	509	540	556	454	455
Loans and Leases, Net of Allowance	14,473	14,563	14,884	15,207	15,150	15,190	15,343	15,360	15,596	-75	-75
Loans and Leases	14,548	14,637	14,958	15,276	15,218	15,257	15,413	15,431	15,669	0.00	0.00
Allowance for Loan and Lease Losses	74	74	75	69	68	68	71	71	73	75	75
Loans Held for Sale	13	4.40	0.60	1.10	9.70	30	-	-	-	14	5.05
Premises and Equipment, Net	35	35	35	34	34	34	33	39	39	40	43
Other Assets	691	756	726	734	709	698	708	710	732	791	797
Total Liabilities & Shareholders' Equity	16,129	16,262	16,595	17,054	17,017	17,035	17,058	17,112	17,376	17,499	17,480
Total Liabilities	14,279	14,427	14,709	15,187	15,110	15,120	15,143	15,215	15,488	15,598	15,557
Interest Bearing Deposits	9,123	9,106	9,143	10,030	10,035	10,093	10,347	10,498	10,459	10,506	10,284
Long-Term Debt	5,016	5,232	5,469	5,060	4,981	4,846	4,696	4,615	4,913	4,982	5,172
Other Long-Term Liabilities	140	89	97	97	93	181	100	103	115	110	102
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,850	1,834	1,886	1,867	1,907	1,915	1,914	1,897	1,888	1,901	1,922
Total Preferred & Common Equity	1,850	1,834	1,886	1,867	1,907	1,915	1,914	1,897	1,888	1,901	1,922
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	1,850	1,834	1,886	1,867	1,907	1,915	1,914	1,897	1,888	1,901	1,922
Common Stock	1,754	1,756	1,757	1,754	1,755	1,756	1,758	1,758	1,760	1,760	1,762
Retained Earnings	878	879	882	901	907	912	923	929	936	954	962
Treasury Stock	-775	-776	-776	-772	-772	-772	-772	-771	-772	-774	-776
Accumulated Other Comprehensive Income / (Loss)	23	4.70	51	10	42	43	27	0.79	-16	-21	-8.80
Other Equity Adjustments	-30	-29	-28	-26	-25	-24	-22	-21	-20	-17	-16

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.36%	0.33%	1.14%	1.25%	-9.82%	8.33%	-2.91%	1.49%	4.74%	-0.60%	6.04%
EBITDA Growth	13.11%	11.73%	8.82%	-5.11%	-23.43%	18.74%	-0.30%	-10.23%	-6.39%	7.06%	15.43%
EBIT Growth	10.66%	11.85%	8.97%	-9.13%	-26.45%	12.49%	-0.15%	-8.03%	1.43%	7.44%	14.36%
NOPAT Growth	10.17%	10.97%	10.33%	-3.90%	-6.05%	3.84%	-2.77%	-7.95%	0.92%	5.76%	14.29%
Net Income Growth	10.17%	10.97%	10.33%	-3.90%	-6.05%	3.84%	-2.77%	-7.95%	0.92%	5.76%	14.29%
EPS Growth	13.64%	12.00%	14.29%	-6.25%	-6.67%	3.57%	0.00%	-10.34%	0.00%	7.69%	14.29%
Operating Cash Flow Growth	-1.36%	-16.83%	19.14%	-8.95%	11.82%	18.25%	-31.73%	-53.19%	133.04%	-2.34%	-6.98%
Free Cash Flow Firm Growth	-206.75%	52.43%	-119.56%	96.69%	-40.33%	1,267.41%	644.38%	-235.88%	89.87%	228.29%	-102.70%
Invested Capital Growth	30.16%	12.19%	21.87%	2.12%	2.20%	-6.98%	-66.15%	275.90%	8.45%	-7.56%	1.63%
Revenue Q/Q Growth	0.67%	-0.21%	0.53%	-0.45%	-5.81%	3.57%	-0.40%	4.98%	-1.43%	-0.11%	3.33%
EBITDA Q/Q Growth	10.63%	0.10%	-0.36%	-2.19%	-12.50%	5.12%	-1.85%	12.56%	-7.60%	-0.16%	8.39%
EBIT Q/Q Growth	11.66%	-0.24%	0.34%	-3.66%	-15.64%	2.79%	4.14%	12.90%	-7.59%	-0.42%	8.91%
NOPAT Q/Q Growth	10.96%	-0.27%	0.24%	-1.63%	-0.11%	-8.70%	4.43%	12.73%	-7.26%	-1.64%	9.36%
Net Income Q/Q Growth	10.96%	-0.27%	0.24%	-1.63%	-0.11%	-8.70%	4.43%	12.73%	-7.26%	-1.64%	9.36%
EPS Q/Q Growth	8.70%	0.00%	3.23%	-3.23%	0.00%	-12.12%	7.41%	8.33%	-7.14%	3.70%	6.67%
Operating Cash Flow Q/Q Growth	8.14%	4.97%	-9.11%	4.81%	6.54%	0.03%	-45.21%	201.66%	40.19%	-45.01%	136.55%
Free Cash Flow Firm Q/Q Growth	-17.54%	-8.15%	12.11%	70.93%	18.69%	142.23%	441.26%	-325.84%	59.18%	-7.16%	-140.97%
Invested Capital Q/Q Growth	6.54%	6.55%	2.88%	1.45%	1.25%	-4.00%	-63.65%	9.70%	-1.69%	-1.14%	-0.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	43.09%	47.99%	51.62%	48.38%	41.08%	45.03%	46.24%	40.90%	36.55%	39.37%	42.85%
EBIT Margin	37.16%	41.43%	44.63%	40.06%	32.67%	33.92%	34.88%	31.61%	30.61%	33.09%	35.68%
Profit (Net Income) Margin	24.66%	27.27%	29.75%	28.24%	29.41%	28.19%	28.23%	25.61%	24.67%	26.25%	28.29%
Tax Burden Percent	66.36%	65.83%	66.65%	70.49%	78.50%	83.11%	80.93%	81.00%	80.60%	79.34%	79.29%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	114.70%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	33.64%	34.17%	33.35%	29.51%	21.50%	16.89%	19.07%	19.00%	19.40%	20.66%	20.71%
Return on Invested Capital (ROIC)	2.08%	1.92%	1.81%	1.57%	1.44%	1.53%	2.31%	1.77%	1.08%	1.14%	1.36%
ROIC Less NNEP Spread (ROIC-NNEP)	2.08%	1.92%	1.81%	1.57%	1.44%	1.53%	2.31%	1.77%	1.08%	1.14%	1.36%
Return on Net Nonoperating Assets (RNNOA)	1.99%	2.83%	3.50%	3.39%	3.20%	3.41%	2.45%	2.40%	2.91%	3.06%	3.49%
Return on Equity (ROE)	4.07%	4.75%	5.31%	4.95%	4.64%	4.95%	4.76%	4.17%	3.99%	4.20%	4.84%
Cash Return on Invested Capital (CROIC)	-24.13%	-9.57%	-17.90%	-0.53%	-0.73%	8.76%	101.14%	-114.18%	-7.02%	9.00%	-0.26%
Operating Return on Assets (OROA)	0.91%	0.97%	1.00%	0.87%	0.62%	0.69%	0.70%	0.62%	0.57%	0.59%	0.66%
Return on Assets (ROA)	0.60%	0.64%	0.67%	0.61%	0.56%	0.57%	0.56%	0.50%	0.46%	0.47%	0.53%
Return on Common Equity (ROCE)	4.07%	4.75%	5.31%	4.95%	4.64%	4.95%	4.76%	4.17%	3.99%	4.20%	4.84%
Return on Equity Simple (ROE_SIMPLE)	4.20%	4.85%	5.26%	4.86%	4.73%	4.98%	4.68%	4.04%	3.90%	4.27%	4.80%
Net Operating Profit after Tax (NOPAT)	73	81	89	85	80	83	81	75	75	80	91
NOPAT Margin	24.66%	27.27%	29.75%	28.24%	29.41%	28.19%	28.23%	25.61%	24.67%	26.25%	28.29%
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	46.74%	46.17%	46.48%	48.75%	54.91%	49.34%	53.59%	54.05%	54.36%	51.40%	48.99%
Operating Expenses to Revenue	63.86%	61.28%	61.06%	63.58%	71.00%	65.06%	68.25%	68.04%	69.88%	67.41%	63.54%
Earnings before Interest and Taxes (EBIT)	109	122	133	121	89	100	100	92	93	100	115
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	127	142	154	146	112	133	133	119	111	119	138
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.76	1.89	1.71	1.60	2.12	1.86	2.47	1.66	1.58	1.94	1.95
Price to Tangible Book Value (P/TBV)	1.76	1.89	1.71	1.60	2.12	1.86	2.47	1.66	1.58	1.94	1.95
Price to Revenue (P/Rev)	10.33	10.62	9.70	9.33	13.16	10.54	14.92	10.53	9.95	11.91	11.50
Price to Earnings (P/E)	41.91	38.92	32.59	33.03	53.49	37.37	52.84	41.11	40.34	45.36	40.66
Dividend Yield	2.98%	3.87%	5.30%	7.55%	9.90%	9.99%	7.36%	10.34%	10.43%	8.79%	8.58%
Earnings Yield	2.39%	2.57%	3.07%	3.03%	1.87%	2.68%	1.89%	2.43%	2.48%	2.20%	2.46%
Enterprise Value to Invested Capital (EV/IC)	1.29	1.28	1.17	1.14	1.29	1.18	2.16	1.13	1.09	1.19	1.20
Enterprise Value to Revenue (EV/Rev)	17.34	19.20	21.21	20.84	26.58	20.92	13.36	25.82	25.81	26.28	25.32
Enterprise Value to EBITDA (EV/EBITDA)	40.24	40.02	41.08	43.08	64.71	46.47	28.90	63.14	70.62	66.76	59.08
Enterprise Value to EBIT (EV/EBIT)	46.66	46.36	47.51	52.03	81.38	61.68	38.30	81.68	84.32	79.43	70.95
Enterprise Value to NOPAT (EV/NOPAT)	70.32	70.42	71.28	73.81	90.38	74.21	47.32	100.84	104.62	100.11	89.48
Enterprise Value to Operating Cash Flow (EV/OCF)	50.00	66.80	62.62	68.44	70.40	50.77	46.10	193.15	86.78	89.93	98.75
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	12.98	1.08	0.00	0.00	12.72	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.28	1.67	2.19	2.13	2.32	2.13	0.02	2.62	2.75	2.59	2.57
Long-Term Debt to Equity	1.28	1.67	2.19	2.13	2.32	2.13	0.02	2.62	2.75	2.59	2.57
Financial Leverage	0.96	1.47	1.93	2.16	2.23	2.23	1.06	1.36	2.68	2.67	2.57
Leverage Ratio	6.77	7.46	7.94	8.07	8.30	8.66	8.43	8.35	8.67	8.97	9.20
Compound Leverage Factor	6.77	7.46	7.94	8.07	9.52	8.66	8.43	8.35	8.67	8.97	9.20
Debt to Total Capital	56.19%	62.51%	68.69%	68.10%	69.88%	68.09%	2.34%	72.34%	73.35%	72.13%	72.00%
Short-Term Debt 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%
Long-Term Debt to Total Capital	56.19%	62.51%	68.69%	68.10%	69.88%	68.09%	2.34%	72.34%	73.35%	72.13%	72.00%
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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.81%	37.49%	31.31%	31.90%	30.12%	31.91%	97.66%	27.66%	26.65%	27.87%	28.00%
Debt to EBITDA	17.49	19.53	24.04	25.65	35.12	26.81	0.31	40.50	47.57	40.40	35.35
Net Debt to EBITDA	16.26	17.90	22.30	23.80	32.67	23.07	-3.37	37.40	43.39	36.51	32.23
Long-Term Debt to EBITDA	17.49	19.53	24.04	25.65	35.12	26.81	0.31	40.50	47.57	40.40	35.35
Debt to NOPAT	30.56	34.36	41.71	43.94	49.05	42.82	0.51	64.68	70.48	60.58	53.54
Net Debt to NOPAT	28.42	31.49	38.69	40.79	45.62	36.84	-5.52	59.73	64.28	54.76	48.82
Long-Term Debt to NOPAT	30.56	34.36	41.71	43.94	49.05	42.82	0.51	64.68	70.48	60.58	53.54
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-842	-401	-880	-29	-41	476	3,547	-4,819	-488	626	-18
Operating Cash Flow to CapEx	1,849.00%	930.56%	2,437.78%	1,100.14%	2,726.34%	0.00%	6,219.52%	1,684.51%	1,778.51%	2,891.64%	719.63%
Free Cash Flow to Firm to Interest Expense	-7.43	-3.39	-6.76	-0.18	-0.19	2.24	22.49	-33.95	-1.49	1.37	-0.04
Operating Cash Flow to Interest Expense	0.90	0.72	0.78	0.57	0.48	0.57	0.53	0.27	0.28	0.19	0.18
Operating Cash Flow Less CapEx to Interest Expense	0.85	0.64	0.75	0.52	0.46	0.67	0.52	0.26	0.26	0.19	0.15
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Fixed Asset Turnover	5.18	5.00	4.90	4.87	4.37	5.73	7.26	8.09	8.81	8.93	8.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,947	4,429	5,397	5,512	5,633	5,239	1,774	6,667	7,231	6,684	6,764
Invested Capital Turnover	0.08	0.07	0.06	0.06	0.05	0.05	0.08	0.07	0.04	0.04	0.05
Increase / (Decrease) in Invested Capital	915	481	968	114	121	-393	-3,466	4,894	563	-547	109
Enterprise Value (EV)	5,105	5,672	6,336	6,304	7,252	6,183	3,834	7,519	7,872	7,968	8,139
Market Capitalization	3,042	3,135	2,897	2,821	3,591	3,114	4,280	3,066	3,036	3,610	3,698
Book Value per Share	$5.91	$5.82	$6.00	$6.27	$6.06	$5.97	$6.17	$6.57	$6.88	$6.64	$6.75
Tangible Book Value per Share	$5.91	$5.82	$6.00	$6.27	$6.06	$5.97	$6.17	$6.57	$6.88	$6.64	$6.75
Total Capital	3,947	4,429	5,397	5,512	5,633	5,239	1,774	6,667	7,231	6,684	6,764
Total Debt	2,218	2,768	3,707	3,753	3,936	3,568	41	4,823	5,303	4,822	4,870
Total Long-Term Debt	2,218	2,768	3,707	3,753	3,936	3,568	41	4,823	5,303	4,822	4,870
Net Debt	2,063	2,537	3,439	3,483	3,661	3,070	-447	4,454	4,837	4,358	4,441
Capital Expenditures (CapEx)	5.52	9.13	4.15	8.37	3.78	-21	1.34	2.31	5.10	3.06	11
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)	2,218	2,768	3,707	3,753	3,936	3,568	41	4,823	5,303	4,822	4,870
Total Depreciation and Amortization (D&A)	17	19	21	25	23	33	33	27	18	19	23
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.25	$0.28	$0.32	$0.31	$0.29	$0.30	$0.29	$0.26	$0.27	$0.28	$0.32
Adjusted Weighted Average Basic Shares Outstanding	289.94M	281.57M	277.21M	275.59M	275.40M	275.86M	276.69M	277.37M	277.44M	278.18M	278.72M
Adjusted Diluted Earnings per Share	$0.25	$0.28	$0.32	$0.30	$0.28	$0.29	$0.29	$0.26	$0.26	$0.28	$0.32
Adjusted Weighted Average Diluted Shares Outstanding	292.21M	283.79M	279.27M	277.30M	277.37M	277.80M	278.58M	278.69M	278.58M	279.14M	279.76M
Adjusted Basic & Diluted Earnings per Share	$0.25	$0.28	$0.32	$0.00	$0.29	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	289.90M	283.47M	281.07M	280.21M	280.03M	560.49M	561.53M	560.82M	280.36M	280.71M	280.51M
Normalized Net Operating Profit after Tax (NOPAT)	73	81	89	85	80	83	81	75	75	80	91
Normalized NOPAT Margin	24.66%	27.27%	29.75%	28.24%	29.41%	28.19%	28.23%	25.61%	24.67%	26.25%	28.29%
Pre Tax Income Margin	37.16%	41.43%	44.63%	40.06%	37.47%	33.92%	34.88%	31.61%	30.61%	33.09%	35.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.97	1.04	1.02	0.75	0.41	0.47	0.63	0.65	0.28	0.22	0.24
NOPAT to Interest Expense	0.64	0.68	0.68	0.53	0.37	0.39	0.51	0.53	0.23	0.17	0.19
EBIT Less CapEx to Interest Expense	0.92	0.96	0.99	0.70	0.39	0.57	0.63	0.63	0.27	0.21	0.22
NOPAT Less CapEx to Interest Expense	0.59	0.61	0.65	0.48	0.35	0.49	0.51	0.51	0.21	0.17	0.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	26.85%	29.07%	31.18%	44.06%	62.89%	66.57%	69.92%	78.18%	77.47%	74.07%	65.45%
Augmented Payout Ratio	264.55%	188.42%	91.97%	67.17%	74.22%	69.36%	76.82%	86.62%	85.41%	76.49%	69.82%

This table displays calculated financial ratios and metrics derived from TFS Financial'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	9/30/2023	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
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	280,570,799.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	280,570,799.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.54%	-6.11%	3.36%	1.20%	-0.43%	-0.76%	2.62%	8.64%	13.77%	-	7.74%
EBITDA Growth	-24.53%	-5.00%	23.90%	14.45%	-0.70%	9.73%	5.48%	10.25%	38.08%	-	11.25%
EBIT Growth	-24.62%	-7.08%	29.36%	16.03%	-1.82%	8.65%	2.42%	8.43%	40.73%	-	12.50%
NOPAT Growth	-23.15%	-6.70%	30.20%	13.35%	-6.81%	8.30%	1.49%	7.82%	42.73%	-	10.59%
Net Income Growth	-23.15%	-6.70%	30.20%	13.35%	-6.81%	8.30%	1.49%	7.82%	42.73%	-	10.59%
EPS Growth	-25.00%	-12.50%	16.67%	16.67%	16.67%	14.29%	0.00%	14.29%	28.57%	-	14.29%
Operating Cash Flow Growth	213.48%	-53.91%	139.82%	186.48%	-524.42%	25.38%	49.36%	-72.35%	81.08%	-	-16.89%
Free Cash Flow Firm Growth	88.83%	97.84%	111.91%	148.72%	203.86%	938.67%	100.90%	-103.00%	-113.93%	-	-240.36%
Invested Capital Growth	8.45%	0.89%	-2.52%	-8.07%	-7.56%	-4.57%	-5.48%	0.59%	1.63%	-	8.95%
Revenue Q/Q Growth	1.13%	-0.07%	2.25%	-2.05%	-0.51%	-0.40%	5.73%	3.70%	4.20%	-	1.81%
EBITDA Q/Q Growth	6.86%	8.88%	-0.96%	-0.68%	-7.28%	20.31%	-4.80%	3.81%	16.13%	-	2.69%
EBIT Q/Q Growth	7.97%	11.29%	-0.87%	-2.59%	-8.64%	23.16%	-6.56%	3.12%	18.58%	-	4.72%
NOPAT Q/Q Growth	11.04%	5.94%	0.03%	-3.67%	-8.71%	23.12%	-6.27%	2.34%	20.85%	-	4.37%
Net Income Q/Q Growth	11.04%	5.94%	0.03%	-3.67%	-8.71%	23.12%	-6.27%	2.34%	20.85%	-	4.37%
EPS Q/Q Growth	0.00%	16.67%	0.00%	0.00%	0.00%	14.29%	-12.50%	14.29%	12.50%	-	0.00%
Operating Cash Flow Q/Q Growth	-59.06%	162.74%	-60.88%	580.76%	-160.66%	177.62%	-53.40%	26.04%	-141.50%	-	-69.97%
Free Cash Flow Firm Q/Q Growth	56.82%	92.57%	591.07%	209.17%	-7.94%	-40.00%	17.64%	-104.62%	-348.65%	-	-123.15%
Invested Capital Q/Q Growth	-1.69%	-4.21%	-0.54%	-1.85%	-1.14%	-1.11%	-1.49%	4.45%	-0.55%	-	3.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	37.38%	40.73%	39.45%	40.00%	37.28%	45.03%	40.55%	40.59%	45.24%	-	41.87%
EBIT Margin	31.11%	34.65%	33.60%	33.41%	30.68%	37.94%	33.53%	33.35%	37.95%	-	35.01%
Profit (Net Income) Margin	25.90%	27.46%	26.87%	26.42%	24.24%	29.97%	26.57%	26.22%	30.41%	-	27.27%
Tax Burden Percent	83.25%	79.25%	79.97%	79.08%	79.02%	78.99%	79.24%	78.64%	80.15%	-	77.90%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	-	100.00%
Effective Tax Rate	16.75%	20.75%	20.03%	20.92%	20.98%	21.01%	20.76%	21.36%	19.85%	-	22.10%
Return on Invested Capital (ROIC)	1.14%	1.20%	1.17%	1.14%	1.06%	1.34%	1.21%	1.20%	1.46%	-	1.35%
ROIC Less NNEP Spread (ROIC-NNEP)	1.14%	1.20%	1.17%	1.14%	1.06%	1.34%	1.21%	1.20%	1.46%	-	1.35%
Return on Net Nonoperating Assets (RNNOA)	3.05%	3.24%	3.18%	3.08%	2.82%	3.46%	3.05%	3.09%	3.75%	-	3.46%
Return on Equity (ROE)	4.19%	4.43%	4.34%	4.22%	3.88%	4.80%	4.25%	4.29%	5.21%	-	4.81%
Cash Return on Invested Capital (CROIC)	-7.02%	0.18%	3.67%	9.56%	9.00%	5.88%	6.85%	0.64%	-0.26%	-	-7.20%
Operating Return on Assets (OROA)	0.58%	0.63%	0.61%	0.60%	0.55%	0.67%	0.60%	0.60%	0.71%	-	0.68%
Return on Assets (ROA)	0.48%	0.50%	0.49%	0.48%	0.43%	0.53%	0.47%	0.47%	0.57%	-	0.53%
Return on Common Equity (ROCE)	4.19%	4.43%	4.34%	4.22%	3.88%	4.80%	4.25%	4.29%	5.21%	-	4.81%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.95%	4.12%	4.23%	0.00%	4.25%	4.30%	4.41%	0.00%	-	4.84%
Net Operating Profit after Tax (NOPAT)	20	21	21	20	18	22	21	22	26	-	23
NOPAT Margin	25.90%	27.46%	26.87%	26.42%	24.24%	29.97%	26.57%	26.22%	30.41%	-	27.27%
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%
SG&A Expenses to Revenue	52.25%	50.91%	51.75%	51.27%	51.66%	49.58%	50.45%	50.11%	46.03%	-	49.44%
Operating Expenses to Revenue	68.22%	66.67%	67.70%	67.25%	67.99%	64.07%	64.57%	64.83%	60.88%	-	64.99%
Earnings before Interest and Taxes (EBIT)	23	26	26	25	23	28	27	27	32	-	30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	28	31	30	30	28	34	32	33	39	-	36
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.58	2.02	1.81	1.85	1.94	1.84	1.83	1.93	1.95	-	2.05
Price to Tangible Book Value (P/TBV)	1.58	2.02	1.81	1.85	1.94	1.84	1.83	1.93	1.95	-	2.05
Price to Revenue (P/Rev)	9.95	12.58	11.39	11.67	11.91	11.65	11.42	11.69	11.50	-	11.71
Price to Earnings (P/E)	40.34	51.18	43.85	43.78	45.36	43.36	42.63	43.73	40.66	-	42.37
Dividend Yield	10.43%	8.39%	9.21%	8.95%	8.79%	9.00%	9.12%	8.73%	8.58%	-	8.04%
Earnings Yield	2.48%	1.95%	2.28%	2.28%	2.20%	2.31%	2.35%	2.29%	2.46%	-	2.36%
Enterprise Value to Invested Capital (EV/IC)	1.09	1.20	1.14	1.16	1.19	1.17	1.17	1.19	1.20	-	1.22
Enterprise Value to Revenue (EV/Rev)	25.81	27.60	25.88	25.79	26.28	25.63	25.05	26.03	25.32	-	25.78
Enterprise Value to EBITDA (EV/EBITDA)	70.62	75.39	67.68	65.49	66.76	63.40	61.53	63.71	59.08	-	60.92
Enterprise Value to EBIT (EV/EBIT)	84.32	90.65	80.53	77.71	79.43	75.61	73.94	76.88	70.95	-	73.44
Enterprise Value to NOPAT (EV/NOPAT)	104.62	112.29	99.69	96.74	100.11	95.39	93.49	97.35	89.48	-	93.26
Enterprise Value to Operating Cash Flow (EV/OCF)	86.78	171.71	79.81	48.59	89.93	79.28	72.78	232.41	98.75	-	94.27
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	654.90	30.56	11.61	12.72	19.50	16.61	187.29	0.00	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.75	2.71	2.61	2.53	2.59	2.45	2.43	2.60	2.57	-	2.69
Long-Term Debt to Equity	2.75	2.71	2.61	2.53	2.59	2.45	2.43	2.60	2.57	-	2.69
Financial Leverage	2.68	2.71	2.73	2.71	2.67	2.58	2.52	2.57	2.57	-	2.56
Leverage Ratio	8.67	8.93	8.89	8.85	8.97	9.02	8.97	9.05	9.20	-	9.06
Compound Leverage Factor	8.67	8.93	8.89	8.85	8.97	9.02	8.97	9.05	9.20	-	9.06
Debt to Total Capital	73.35%	73.05%	72.31%	71.68%	72.13%	71.04%	70.87%	72.24%	72.00%	-	72.90%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	73.35%	73.05%	72.31%	71.68%	72.13%	71.04%	70.87%	72.24%	72.00%	-	72.90%
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%
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%
Common Equity to Total Capital	26.65%	26.95%	27.69%	28.32%	27.87%	28.96%	29.13%	27.76%	28.00%	-	27.10%
Debt to EBITDA	47.57	46.05	43.04	40.54	40.40	38.38	37.21	38.66	35.35	-	36.31
Net Debt to EBITDA	43.39	41.03	37.91	35.85	36.51	34.58	33.48	35.10	32.23	-	33.24
Long-Term Debt to EBITDA	47.57	46.05	43.04	40.54	40.40	38.38	37.21	38.66	35.35	-	36.31
Debt to NOPAT	70.48	68.59	63.40	59.89	60.58	57.75	56.54	59.07	53.54	-	55.59
Net Debt to NOPAT	64.28	61.11	55.84	52.96	54.76	52.02	50.86	53.63	48.82	-	50.89
Long-Term Debt to NOPAT	70.48	68.59	63.40	59.89	60.58	57.75	56.54	59.07	53.54	-	55.59
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-544	-40	198	614	565	339	399	-18	-83	-	-560
Operating Cash Flow to CapEx	1,313.01%	5,167.28%	1,750.12%	11,599.88%	-8,206.99%	7,149.92%	305.53%	1,549.94%	-518.11%	-	415.25%
Free Cash Flow to Firm to Interest Expense	-5.53	-0.37	1.77	5.31	4.71	2.86	3.50	-0.16	-0.68	-	-4.76
Operating Cash Flow to Interest Expense	0.14	0.34	0.13	0.84	-0.49	0.38	0.19	0.23	-0.09	-	0.15
Operating Cash Flow Less CapEx to Interest Expense	0.13	0.33	0.12	0.83	-0.50	0.38	0.13	0.22	-0.11	-	0.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	-	0.02
Fixed Asset Turnover	8.81	8.64	8.85	8.85	8.93	9.05	8.42	8.56	8.78	-	8.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,231	6,926	6,889	6,761	6,684	6,610	6,511	6,801	6,764	-	7,094
Invested Capital Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	-	0.05
Increase / (Decrease) in Invested Capital	563	61	-178	-594	-547	-316	-378	40	109	-	583
Enterprise Value (EV)	7,872	8,283	7,832	7,828	7,968	7,756	7,630	8,097	8,139	-	8,676
Market Capitalization	3,036	3,775	3,445	3,543	3,610	3,526	3,479	3,637	3,698	-	3,942
Book Value per Share	$6.88	$6.72	$6.86	$6.82	$6.64	$6.82	$6.75	$6.72	$6.75	-	$6.85
Tangible Book Value per Share	$6.88	$6.72	$6.86	$6.82	$6.64	$6.82	$6.75	$6.72	$6.75	-	$6.85
Total Capital	7,231	6,926	6,889	6,761	6,684	6,610	6,511	6,801	6,764	-	7,094
Total Debt	5,303	5,060	4,981	4,846	4,822	4,696	4,615	4,913	4,870	-	5,172
Total Long-Term Debt	5,303	5,060	4,981	4,846	4,822	4,696	4,615	4,913	4,870	-	5,172
Net Debt	4,837	4,508	4,387	4,286	4,358	4,230	4,151	4,461	4,441	-	4,734
Capital Expenditures (CapEx)	1.05	0.70	0.81	0.83	0.72	0.64	6.95	1.73	2.14	-	4.25
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Nonoperating Obligations (NNO)	5,303	5,060	4,981	4,846	4,822	4,696	4,615	4,913	4,870	-	5,172
Total Depreciation and Amortization (D&A)	4.73	4.58	4.52	4.98	4.96	5.31	5.55	5.95	6.24	-	5.85
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.07	$0.07	$0.07	$0.07	$0.07	$0.08	$0.07	$0.08	$0.09	$0.08	$0.08
Adjusted Weighted Average Basic Shares Outstanding	277.44M	277.84M	278.18M	278.29M	278.18M	278.54M	278.73M	278.83M	278.72M	278.75M	278.86M
Adjusted Diluted Earnings per Share	$0.06	$0.07	$0.07	$0.07	$0.07	$0.08	$0.07	$0.08	$0.09	$0.08	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	278.58M	279.00M	279.05M	279.22M	279.14M	279.58M	279.72M	279.87M	279.76M	279.91M	279.93M
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	280.36M	280.71M	280.71M	280.71M	280.71M	280.80M	280.84M	280.69M	280.51M	280.57M	280.43M
Normalized Net Operating Profit after Tax (NOPAT)	20	21	21	20	18	22	21	22	26	-	23
Normalized NOPAT Margin	25.90%	27.46%	26.87%	26.42%	24.24%	29.97%	26.57%	26.22%	30.41%	-	27.27%
Pre Tax Income Margin	31.11%	34.65%	33.60%	33.41%	30.68%	37.94%	33.53%	33.35%	37.95%	-	35.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.24	0.24	0.23	0.22	0.19	0.24	0.23	0.24	0.27	-	0.25
NOPAT to Interest Expense	0.20	0.19	0.18	0.17	0.15	0.19	0.18	0.18	0.21	-	0.20
EBIT Less CapEx to Interest Expense	0.23	0.24	0.22	0.21	0.19	0.23	0.17	0.22	0.25	-	0.22
NOPAT Less CapEx to Interest Expense	0.19	0.19	0.18	0.17	0.15	0.18	0.12	0.17	0.20	-	0.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	77.47%	79.17%	74.60%	72.62%	74.07%	72.66%	72.60%	71.44%	65.45%	-	64.26%
Augmented Payout Ratio	85.41%	83.21%	77.48%	75.42%	76.49%	73.61%	73.54%	73.26%	69.82%	-	73.16%

Financials Breakdown Chart

Key Financial Trends

TFS Financial (NASDAQ: TFSL) delivered another quarter of solid profitability in Q2 2026, but the broader trend points to a company that is still highly sensitive to funding costs, deposit flows, and balance sheet positioning. Over the last several years, earnings have been fairly steady, while cash flow and balance sheet items have moved around more noticeably because of investment portfolio changes and deposit/debt activity.

For the latest quarter, TFSL reported net income of $23.2 million, up slightly from $22.3 million in Q1 2026 and above $21.5 million in Q3 2025. Revenue also improved modestly sequentially to $85.2 million, helped by stronger net interest income and better non-interest income.

The most important trend is that earnings have remained stable, but deposit and funding dynamics remain a key pressure point. Interest expense is still very large relative to interest income, and the company has relied on debt issuance and investment portfolio activity to support liquidity. That is typical for a thrift, but it means profitability can be affected quickly if funding costs rise or deposits fall.

Net income held steady and trended slightly higher over the last few quarters, with Q2 2026 at $23.2 million versus $22.3 million in Q1 2026 and $21.5 million in Q3 2025.
Revenue improved sequentially in Q2 2026 to $85.2 million from $83.7 million in Q1 2026.
Net interest income expanded to $77.8 million in Q2 2026, helped by a modest decline in interest expense.
Operating cash flow was positive in Q2 2026 at $17.6 million, showing the core business is still generating cash.
Common equity increased slightly to $1.92 billion at March 31, 2026 from $1.90 billion at Dec. 31, 2025.
EPS remained unchanged at $0.08 in Q1 and Q2 2026, suggesting profitability growth is still modest on a per-share basis.
Provision for credit losses was zero in Q2 2026, which helped earnings, but it also leaves less cushion if credit quality weakens later.
Balance sheet assets were essentially flat, with total assets at $17.48 billion in Q2 2026 versus $17.50 billion in Q1 2026.
Net cash declined in Q2 2026 by $19.4 million, after a $27.3 million increase in Q1 2026.
Deposits fell sharply in Q2 2026 by $188.0 million, a sign that funding pressure remains an important risk.

Looking at the longer trend, TFSL’s quarterly earnings have been fairly consistent since 2023, generally landing in the $17 million to $26 million range. That stability is a strength. However, the company’s cash flow shows large swings because of investment purchases/sales and financing activity, and those swings can obscure underlying operating trends.

One encouraging sign is that loan balances have grown over time. Loans and leases net of allowance were about $13.9 billion in Q3 2023 and stood at $15.6 billion in Q2 2026, suggesting the loan portfolio has expanded. At the same time, the allowance for loan and lease losses has risen from the low $70 million range to about $74.9 million, which indicates management is still reserving for potential credit issues.

On the other hand, TFSL’s funding mix remains a challenge. Interest-bearing deposits are still the largest liability, but the company has also carried substantial long-term debt. In Q2 2026, long-term debt was $5.17 billion and interest-bearing deposits were $10.29 billion. That combination supports growth, but it also leaves the bank exposed to higher funding costs if rates stay elevated.

From an investor perspective, TFSL looks like a company with steady earnings, a durable capital base, and recurring dividends, but not a fast grower. The stock may appeal more to income-focused investors than to growth investors, especially given the quarterly dividend of $0.2825 per share and the relatively stable earnings profile.

Bottom line: TFSL continues to generate consistent profits and maintain a strong equity base, but the recent drop in deposits and the heavy reliance on funding and investment activity are worth watching closely. The company appears stable, but future upside will likely depend on improving funding trends and maintaining net interest margin discipline.

06/23/26 08:51 PM ETAI Generated. May Contain Errors.

TFS Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TFS Financial's fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

In the past 10 years, TFS Financial's net income has ranged from $72.59 million in 2015 to $90.96 million in 2025, and is currently $90.96 million as of their latest financial filing in 2025. See where experts think TFS Financial is headed by visiting TFS Financial's forecast page.

Over the last 10 years, TFS Financial's total revenue changed from $294.39 million in 2015 to $321.47 million in 2025, a change of 9.2%.

TFS Financial's total liabilities were at $15.56 billion at the end of 2025, a 2.2% increase from 2024, and a 46.3% increase since 2015.

In the past 10 years, TFS Financial's cash and equivalents has ranged from $18.96 million in 2022 to $35.24 million in 2017, and is currently $24.18 million as of their latest financial filing in 2025.

Over the last 10 years, TFS Financial's book value per share changed from 5.91 in 2015 to 6.75 in 2025, a change of 14.2%.

Related Companies

Financial statements for NASDAQ:TFSL last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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TFS Financial (TFSL) Financials

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TFS Financial Financials - Frequently Asked Questions

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TFS Financial (TFSL) Financials

Annual Income Statements for TFS Financial

Quarterly Income Statements for TFS Financial

Annual Cash Flow Statements for TFS Financial

Quarterly Cash Flow Statements for TFS Financial

Annual Balance Sheets for TFS Financial

Quarterly Balance Sheets for TFS Financial

Annual Metrics And Ratios for TFS Financial

Quarterly Metrics And Ratios for TFS Financial

Financials Breakdown Chart

Key Financial Trends

TFS Financial Financials - Frequently Asked Questions

When does TFS Financial's financial year end?

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

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

How much debt does TFS Financial have?

How much cash does TFS Financial have?

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

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