Bread Financial (BFH) Financials

$66.23 -0.46 (-0.69%)

Closing price 03:59 PM Eastern

Extended Trading

$66.18 -0.05 (-0.07%)

As of 04:20 PM Eastern

Annual Income Statements for Bread Financial

This table shows Bread 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
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	597	516	789	963	278	214	801	223	718	277
Consolidated Net Income / (Loss)	605	518	789	963	278	214	801	223	718	277
Net Income / (Loss) Continuing Operations	605	518	769	946	506	208	797	224	737	279
Total Pre-Tax Income	932	837	1,063	1,215	662	301	1,044	300	968	381
Total Revenue	6,110	6,710	5,019	5,124	4,050	3,298	3,272	3,826	4,289	3,838
Net Interest Income / (Expense)	-330	-429	-455	-542	4,189	3,453	3,485	4,181	4,266	4,064
Total Interest Income	0.00	0.00	0.00	0.00	4,827	3,952	3,868	4,684	5,145	5,024
Loans and Leases Interest Income	-	-	-	-	4,729	3,931	3,861	4,615	4,961	4,820
Investment Securities Interest Income	-	-	-	-	98	21	7.00	69	184	204
Total Interest Expense	330	429	455	542	638	499	383	503	879	960
Deposits Interest Expense	54	85	125	166	307	238	167	243	541	608
Long-Term Debt Interest Expense	277	344	174	377	331	261	216	260	338	352
Total Non-Interest Income	6,440	7,138	5,475	5,667	-139	-155	-213	-355	23	-226
Other Service Charges	-	3,640	-	4,695	219	177	146	114	128	144
Net Realized & Unrealized Capital Gains on Investments	3,900	994	5,107	676	-	-	10	0.00	230	11
Other Non-Interest Income	-	-	-	-	-358	-332	-369	-469	-335	-381
Provision for Credit Losses	668	941	-	-	1,188	1,266	544	1,594	1,229	1,397
Total Non-Interest Expense	4,510	4,932	3,957	3,909	2,200	1,731	1,684	1,932	2,092	2,060
Salaries and Employee Benefits	-	-	-	-	721	609	671	779	867	897
Net Occupancy & Equipment Expense	-	-	-	-	187	191	216	274	301	300
Marketing Expense	-	-	-	-	205	143	160	180	161	147
Other Operating Expenses	4,018	4,420	3,769	3,716	991	682	545	586	647	626
Depreciation Expense	142	167	74	81	96	106	92	113	116	90
Income Tax Expense	326	319	293	270	156	93	247	76	231	102
Net Income / (Loss) Discontinued Operations	-	-	20	18	-228	6.00	4.00	-1.00	-19	-2.00
Basic Earnings per Share	$8.91	$7.37	$14.17	$17.56	$5.38	$4.47	$16.09	$4.47	$14.39	$5.58
Weighted Average Basic Shares Outstanding	61.90M	58.60M	55.70M	54.90M	50M	47.80M	49.70M	49.90M	49.80M	49.60M
Diluted Earnings per Share	$8.85	$7.34	$14.10	$17.49	$5.46	$4.46	$16.02	$4.46	$14.34	$5.49
Weighted Average Diluted Shares Outstanding	62.30M	58.90M	55.90M	55.10M	50.90M	47.90M	50M	50M	50M	50.40M
Weighted Average Basic & Diluted Shares Outstanding	59.26M	55.93M	55.46M	53.00M	47.63M	49.70M	49.95M	50.12M	49.42M	49.09M
Cash Dividends to Common per Share	$0.00	$0.52	$2.08	$0.57	$0.63	$1.26	$0.84	$0.84	$0.84	$0.84

This table shows Bread 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	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	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	134	-133	455	48	171	44	134	133	2.00	8.00	138
Consolidated Net Income / (Loss)	134	-133	455	48	171	44	134	133	2.00	8.00	138
Net Income / (Loss) Continuing Operations	134	-133	455	64	173	45	135	133	3.00	8.00	142
Total Pre-Tax Income	189	-207	638	86	225	19	188	180	40	-27	197
Total Revenue	979	1,033	1,289	952	1,031	1,017	991	939	983	925	970
Net Interest Income / (Expense)	1,085	1,129	1,117	992	1,082	1,075	1,052	987	1,037	988	1,006
Total Interest Income	1,218	1,325	1,335	1,197	1,301	1,312	1,300	1,228	1,277	1,219	1,231
Loans and Leases Interest Income	1,195	1,290	1,289	1,153	1,256	1,263	1,247	1,174	1,224	1,175	1,185
Investment Securities Interest Income	23	35	46	44	45	49	53	54	53	44	46
Total Interest Expense	133	196	218	205	219	237	248	241	240	231	225
Deposits Interest Expense	66	102	117	127	143	154	155	152	153	148	138
Long-Term Debt Interest Expense	67	94	101	78	76	83	93	89	87	83	87
Total Non-Interest Income	-106	-96	172	-40	-51	-58	-61	-48	-54	-63	-36
Other Service Charges	30	39	29	34	33	32	31	31	37	45	47
Other Non-Interest Income	-136	-135	-87	-74	-84	-90	-92	-84	-95	-110	-83
Provision for Credit Losses	304	693	107	336	304	482	321	290	369	417	296
Total Non-Interest Expense	486	547	544	530	502	516	482	469	574	535	477
Salaries and Employee Benefits	202	207	220	217	210	220	213	214	228	242	215
Net Occupancy & Equipment Expense	75	82	75	75	73	78	74	73	73	80	81
Marketing Expense	44	55	39	40	36	46	28	33	38	48	35
Other Operating Expenses	136	170	176	163	160	148	144	126	213	143	125
Depreciation Expense	29	33	34	35	23	24	23	23	22	22	21
Income Tax Expense	55	-74	183	22	52	-26	53	47	37	-35	55
Net Income / (Loss) Discontinued Operations	0.00	-	0.00	-16	-2.00	-1.00	-1.00	0.00	-1.00	-	-4.00
Basic Earnings per Share	$2.69	($2.67)	$9.10	$0.95	$3.44	$0.88	$2.71	$2.69	$0.05	$0.13	$2.81
Weighted Average Basic Shares Outstanding	49.80M	49.90M	50M	50.10M	49.90M	49.80M	49.50M	49.60M	49.70M	49.60M	49M
Diluted Earnings per Share	$2.69	($2.67)	$9.08	$0.95	$3.42	$0.88	$2.70	$2.66	$0.05	$0.08	$2.78
Weighted Average Diluted Shares Outstanding	49.90M	50M	50.10M	50.30M	50.10M	50M	49.70M	50.20M	51M	50.40M	49.60M
Weighted Average Basic & Diluted Shares Outstanding	49.85M	50.12M	50.12M	50.22M	49.33M	49.42M	49.58M	49.68M	49.72M	49.09M	46.55M
Cash Dividends to Common per Share	$0.21	$0.22	$0.21	$0.21	$0.21	$0.20	$0.21	$0.21	$0.21	-	$0.21

This table details how cash moves in and out of Bread 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
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	91	487	2,346	-347	-10	-495	460	4.00	-311	98
Net Cash From Operating Activities	1,760	2,127	2,599	2,755	1,218	1,883	1,543	1,848	1,987	1,859
Net Cash From Continuing Operating Activities	1,760	2,127	2,599	2,755	1,218	1,883	1,543	1,848	1,987	1,859
Net Income / (Loss) Continuing Operations	605	518	789	963	278	214	801	223	718	277
Consolidated Net Income / (Loss)	605	518	789	963	278	214	801	223	718	277
Provision For Loan Losses	668	941	1,140	1,016	1,188	1,266	544	1,594	1,229	1,397
Depreciation Expense	492	512	498	487	249	184	123	113	116	90
Amortization Expense	32	35	44	47	284	74	106	110	118	113
Non-Cash Adjustments to Reconcile Net Income	-43	327	-96	227	-519	-138	10	-145	-222	49
Changes in Operating Assets and Liabilities, net	5.30	-204	225	14	-262	283	-41	-47	28	-67
Net Cash From Investing Activities	-3,363	-4,292	-4,268	-1,872	2,861	1,774	-1,691	-5,111	788	-1,169
Net Cash From Continuing Investing Activities	-3,363	-4,292	-4,268	-1,872	2,861	1,774	-1,691	-5,111	788	-1,169
Purchase of Investment Securities	-3,377	-4,742	-4,877	-3,031	-3,662	1,449	-2,163	-5,141	-1,725	-1,284
Sale and/or Maturity of Investments	39	525	840	1,201	2,122	366	585	30	2,513	115
Net Cash From Financing Activities	1,719	2,637	4,005	-1,218	-4,092	-4,167	608	3,267	-3,086	-592
Net Cash From Continuing Financing Activities	1,719	2,637	4,005	-1,218	-4,092	-4,167	608	3,267	-3,086	-592
Net Change in Deposits	849	2,790	2,543	864	356	-2,370	1,228	2,778	-209	-541
Issuance of Debt	4,389	8,228	7,697	3,419	1,981	2,375	4,104	4,147	2,111	1,796
Repayment of Debt	-2,258	-7,187	-7,341	-4,919	-5,310	-4,115	-4,551	-3,600	-4,909	-1,742
Repurchase of Common Equity	-952	-799	-554	-443	-976	-	0.00	-12	-35	-55
Payment of Dividends	0.00	-30	-116	-125	-127	-61	-42	-43	-42	-43
Other Financing Activities, Net	-327	-384	-29	-31	-28	4.00	-131	-3.00	-2.00	-7.00
Cash Interest Paid	311	405	551	720	672	488	357	466	861	922
Cash Income Taxes Paid	304	467	344	234	1,071	268	325	338	292	227

This table details how cash moves in and out of Bread 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	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	3/31/2025
Net Change in Cash & Equivalents	-89	319	-295	-281	44	221	192	264	-601	243	522
Net Cash From Operating Activities	608	497	398	343	629	617	447	477	456	479	393
Net Cash From Continuing Operating Activities	608	497	398	343	629	617	447	477	456	479	393
Net Income / (Loss) Continuing Operations	134	-134	455	48	172	43	134	134	2.00	7.00	138
Consolidated Net Income / (Loss)	134	-134	455	48	172	43	134	134	2.00	7.00	138
Provision For Loan Losses	304	692	107	335	305	482	321	290	369	417	296
Depreciation Expense	29	33	34	35	23	24	23	23	22	22	21
Amortization Expense	27	28	29	28	30	31	32	29	28	24	23
Non-Cash Adjustments to Reconcile Net Income	-10	-89	-231	-4.00	22	-9.00	-37	11	80	-5.00	36
Changes in Operating Assets and Liabilities, net	124	-33	4.00	-99	77	46	-26	-10	-45	14	-121
Net Cash From Investing Activities	-591	-3,623	3,141	-281	-281	-1,791	720	31	-569	-1,351	691
Net Cash From Continuing Investing Activities	-591	-3,623	3,141	-281	-281	-1,791	720	31	-569	-1,351	691
Purchase of Investment Securities	-591	-3,653	636	-281	-285	-1,795	717	-73	-572	-1,356	686
Sale and/or Maturity of Investments	-	30	2,505	-	4.00	4.00	3.00	104	3.00	5.00	5.00
Net Cash From Financing Activities	-106	3,445	-3,834	-343	-304	1,395	-975	-244	-488	1,115	-562
Net Cash From Continuing Financing Activities	-106	3,445	-3,834	-343	-304	1,395	-975	-244	-488	1,115	-562
Net Change in Deposits	1,417	1,383	-689	-90	220	350	-293	-334	-148	234	17
Issuance of Debt	110	2,500	300	596	123	1,092	93	500	151	1,052	289
Repayment of Debt	-1,622	-428	-3,425	-806	-640	-38	-744	-401	-480	-117	-732
Repurchase of Common Equity	-	-	0.00	-	-35	-	-11	-	-	-44	-103
Payment of Dividends	-10	-11	-11	-10	-11	-10	-11	-11	-10	-11	-12
Other Financing Activities, Net	11	1.00	-9.00	-33	39	1.00	-9.00	2.00	-1.00	1.00	-21

This table presents Bread 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
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	22,350	25,514	30,685	30,388	26,495	22,547	21,746	25,407	23,141	22,891
Cash and Due from Banks	1,168	1,859	4,190	3,817	3,874	2,796	3,046	3,891	3,590	3,679
Trading Account Securities	-	-	-	-	-	225	239	221	253	266
Loans and Leases, Net of Allowance	13,058	15,596	17,495	16,817	18,292	14,776	15,567	18,901	17,005	16,655
Loans and Leases	13,800	16,544	18,614	17,855	19,463	16,784	17,399	21,365	19,333	18,896
Allowance for Loan and Lease Losses	742	948	1,119	1,038	1,171	2,008	1,832	2,464	2,328	2,241
Premises and Equipment, Net	577	586	614	288	282	213	215	195	167	142
Intangible Assets	1,204	1,003	801	217	153	711	687	799	762	746
Other Assets	2,073	2,345	3,116	7,735	2,337	3,826	1,992	1,400	1,364	1,403
Total Liabilities & Shareholders' Equity	22,350	25,514	30,685	30,388	26,495	22,547	21,746	25,407	23,141	22,891
Total Liabilities	20,173	23,856	28,830	28,056	24,907	21,025	19,660	23,142	20,223	19,840
Non-Interest Bearing Deposits	5,606	4,673	6,366	11,794	6,942	9,793	11,027	13,826	13,620	13,082
Long-Term Debt	11,131	11,742	14,756	13,238	10,033	8,516	7,439	8,007	5,292	5,557
Other Long-Term Liabilities	1,062	4,523	5,267	795	6,033	2,716	1,194	1,309	1,311	1,201
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,010	1,658	1,855	2,332	1,588	1,522	2,086	2,265	2,918	3,051
Total Preferred & Common Equity	2,010	1,658	1,855	2,332	1,588	1,522	2,086	2,265	2,918	3,051
Total Common Equity	2,010	1,658	1,855	2,332	1,588	1,522	2,086	2,265	2,918	3,051
Common Stock	2,982	3,047	3,101	3,174	3,259	3,428	2,175	2,193	2,170	2,074
Retained Earnings	3,093	3,495	4,167	5,012	5,163	4,832	-87	93	767	999
Accumulated Other Comprehensive Income / (Loss)	-137	-151	-140	-138	-100	-5.00	-2.00	-21	-19	-22

This table presents Bread 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	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	21,960	21,970	21,609	21,608	22,299	22,144	21,736	22,382
Cash and Due from Banks	3,583	3,611	3,325	3,380	3,789	4,053	3,451	4,212
Trading Account Securities	218	228	239	240	258	264	277	272
Loans and Leases, Net of Allowance	16,053	15,837	15,754	15,715	15,930	15,579	15,743	15,643
Loans and Leases	18,126	18,060	17,962	17,922	18,185	17,743	17,933	17,815
Allowance for Loan and Lease Losses	2,073	2,223	2,208	2,207	2,255	2,164	2,190	2,172
Premises and Equipment, Net	204	180	162	160	166	157	148	133
Intangible Assets	690	790	780	771	753	744	754	738
Other Assets	1,212	1,324	1,349	1,342	1,403	1,347	1,363	1,384
Total Liabilities & Shareholders' Equity	21,960	21,970	21,609	21,608	22,299	22,144	21,736	22,382
Total Liabilities	19,561	19,254	18,873	18,744	19,267	18,974	18,624	19,314
Non-Interest Bearing Deposits	12,444	13,138	13,048	13,268	13,327	12,994	12,847	13,099
Long-Term Debt	5,931	4,884	4,698	4,223	4,652	4,754	4,584	5,121
Other Long-Term Liabilities	1,186	1,232	1,127	1,253	1,288	1,226	1,193	1,094
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,399	2,716	2,736	2,864	3,032	3,170	3,112	3,068
Total Preferred & Common Equity	2,399	2,716	2,736	2,864	3,032	3,170	3,112	3,068
Total Common Equity	2,399	2,716	2,736	2,864	3,032	3,170	3,112	3,068
Common Stock	2,182	2,198	2,182	2,156	2,164	2,180	2,125	1,961
Retained Earnings	238	537	574	735	890	1,012	1,003	1,126
Accumulated Other Comprehensive Income / (Loss)	-21	-19	-20	-27	-22	-22	-16	-19

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	42.33%	9.82%	-25.19%	2.09%	-20.96%	-18.57%	-0.79%	16.93%	12.10%	-10.52%
EBITDA Growth	47.71%	-4.91%	15.92%	9.07%	-31.70%	-53.22%	583.18%	-172.61%	1,638.62%	-87.85%
EBIT Growth	11.18%	-10.15%	26.94%	14.35%	-45.51%	-54.53%	1,287.38%	-171.26%	768.00%	-86.88%
NOPAT Growth	34.61%	-14.50%	48.61%	22.92%	-46.48%	-58.89%	283.17%	-143.79%	1,674.11%	-81.07%
Net Income Growth	17.30%	-14.50%	52.38%	22.11%	-71.13%	-23.02%	274.30%	-216.48%	665.92%	-61.42%
EPS Growth	12.45%	-17.06%	92.10%	24.04%	-71.13%	-23.02%	259.19%	-72.16%	443.05%	-61.72%
Operating Cash Flow Growth	61.84%	20.88%	22.18%	5.99%	-55.79%	54.60%	-18.06%	39.53%	22.56%	-6.44%
Free Cash Flow Firm Growth	70.82%	85.79%	-1,162.62%	216.44%	118.26%	-53.13%	-908.94%	146.53%	-14.33%	308.03%
Invested Capital Growth	26.12%	4.70%	17.66%	-6.89%	-25.76%	-16.51%	-5.11%	-64.05%	-240.15%	-65.05%
Revenue Q/Q Growth	4.50%	0.19%	-27.14%	43.19%	-19.28%	-2.64%	21.87%	4.88%	-0.37%	-2.34%
EBITDA Q/Q Growth	-16.59%	-40.71%	-41.22%	45.63%	22.83%	-71.60%	38.18%	-33.63%	389.61%	-8.61%
EBIT Q/Q Growth	-26.72%	-53.26%	-51.38%	82.93%	10.02%	-80.29%	68.48%	5.08%	291.37%	-10.77%
NOPAT Q/Q Growth	20.74%	-24.69%	45.74%	0.49%	-27.58%	-21.66%	7.22%	-46.28%	163.69%	-11.71%
Net Income Q/Q Growth	20.74%	-24.69%	49.43%	1.42%	-40.27%	-28.48%	0.59%	-40.21%	32.72%	-11.50%
EPS Q/Q Growth	20.08%	-22.57%	49.21%	2.16%	-40.27%	-28.48%	0.19%	-40.45%	32.29%	-12.86%
Operating Cash Flow Q/Q Growth	25.04%	2.10%	2.68%	-3.87%	-46.10%	60.06%	-3.71%	9.61%	6.43%	-6.91%
Free Cash Flow Firm Q/Q Growth	65.95%	76.18%	-140.48%	82,542.31%	-10.04%	-31.31%	-3,898.20%	1,062.66%	-534.85%	5,663.48%
Invested Capital Q/Q Growth	11.71%	6.06%	14.19%	0.12%	2.99%	14.76%	187.65%	146.63%	247.54%	11.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	47.64%	20.62%	31.96%	34.14%	29.51%	16.95%	116.72%	41.01%	140.13%	15.22%
EBIT Margin	30.50%	12.47%	63.50%	23.71%	16.35%	9.13%	127.63%	15.68%	67.71%	9.93%
Profit (Net Income) Margin	19.82%	7.71%	31.43%	18.79%	6.86%	6.49%	48.96%	23.31%	33.48%	7.22%
Tax Burden Percent	129.97%	61.84%	148.46%	79.27%	41.99%	71.10%	153.45%	297.33%	222.52%	72.70%
Interest Burden Percent	200.00%	100.00%	300.00%	100.00%	100.00%	100.00%	300.00%	200.00%	400.00%	100.00%
Effective Tax Rate	70.03%	38.16%	82.81%	22.18%	23.57%	30.90%	70.98%	50.67%	47.73%	26.77%
Return on Invested Capital (ROIC)	4.55%	3.58%	4.78%	5.63%	3.59%	1.89%	8.15%	5.51%	5.13%	1.68%
ROIC Less NNEP Spread (ROIC-NNEP)	14.25%	3.58%	0.00%	5.75%	1.71%	1.95%	0.00%	9.82%	14.84%	1.66%
Return on Net Nonoperating Assets (RNNOA)	93.24%	23.41%	0.00%	40.37%	10.60%	11.88%	0.00%	40.62%	40.68%	5.96%
Return on Equity (ROE)	117.18%	26.99%	0.00%	46.00%	14.18%	13.76%	0.00%	30.81%	101.86%	7.64%
Cash Return on Invested Capital (CROIC)	-7.71%	-1.01%	-11.44%	12.76%	33.16%	19.88%	-181.36%	42.50%	-18.17%	98.09%
Operating Return on Assets (OROA)	22.76%	3.50%	3.78%	3.98%	2.33%	1.23%	0.00%	1.27%	19.94%	1.66%
Return on Assets (ROA)	2.84%	2.16%	2.81%	3.15%	0.98%	0.87%	0.00%	4.46%	11.83%	1.20%
Return on Common Equity (ROCE)	106.84%	25.81%	0.00%	46.00%	14.18%	13.76%	0.00%	50.50%	25.47%	7.64%
Return on Equity Simple (ROE_SIMPLE)	30.12%	31.21%	85.02%	41.30%	17.50%	14.06%	76.80%	19.69%	98.42%	9.08%
Net Operating Profit after Tax (NOPAT)	605	518	769	946	506	208	797	224	1,474	279
NOPAT Margin	19.82%	7.71%	15.32%	18.45%	12.49%	6.31%	48.72%	11.71%	34.37%	7.27%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	-0.27%	-0.12%	1.88%	-0.06%	-0.20%	0.08%	0.36%	0.02%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	27.48%	28.59%	96.00%	64.45%	92.96%	35.02%
Operating Expenses to Revenue	147.63%	73.51%	157.66%	76.29%	54.32%	52.49%	154.40%	252.48%	97.55%	53.67%
Earnings before Interest and Taxes (EBIT)	932	837	1,063	1,215	662	301	4,176	600	2,904	381
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,455	1,384	1,604	1,750	1,195	559	3,819	523	4,808	584
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.42	7.04	6.73	3.16	2.99	2.17	1.84	2.42	0.54	0.99
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	6.35	9.88	4.08	2.75	2.48	1.50	1.31
Price to Revenue (P/Rev)	2.44	1.74	2.49	1.44	1.17	1.00	2.14	0.95	0.37	0.79
Price to Earnings (P/E)	25.00	22.62	15.84	7.65	17.07	15.46	8.76	8.08	2.21	10.92
Dividend Yield	0.00%	0.26%	0.92%	1.69%	2.45%	1.82%	3.43%	2.90%	6.50%	1.38%
Earnings Yield	7.89%	4.42%	6.31%	13.07%	5.86%	6.47%	71.31%	12.37%	45.20%	9.16%
Enterprise Value to Invested Capital (EV/IC)	1.80	1.53	1.34	1.04	0.89	0.90	0.86	1.16	0.40	0.57
Enterprise Value to Revenue (EV/Rev)	8.38	3.37	4.63	3.29	2.64	2.74	2.52	1.55	1.55	1.28
Enterprise Value to EBITDA (EV/EBITDA)	17.45	16.34	29.16	9.63	8.96	16.15	6.47	45.47	2.74	8.40
Enterprise Value to EBIT (EV/EBIT)	27.26	27.01	21.88	13.87	16.17	30.00	22.38	59.42	6.85	12.87
Enterprise Value to NOPAT (EV/NOPAT)	84.61	43.68	30.23	17.83	21.16	43.41	10.33	53.00	9.00	17.57
Enterprise Value to Operating Cash Flow (EV/OCF)	14.43	10.63	8.95	6.12	8.79	4.80	10.24	6.42	3.34	2.64
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	7.86	2.29	4.12	0.00	0.72	0.00	0.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.48	7.92	8.38	5.94	6.57	5.60	0.00	14.14	3.63	1.82
Long-Term Debt to Equity	0.00	7.08	0.00	5.68	6.32	5.60	0.00	17.68	5.44	1.82
Financial Leverage	9.07	6.54	8.16	7.02	6.20	6.09	0.00	17.36	20.55	3.59
Leverage Ratio	26.58	12.48	47.99	14.58	14.51	15.77	0.00	33.27	28.10	7.71
Compound Leverage Factor	26.58	12.48	31.99	14.58	14.51	15.77	0.00	33.27	28.10	7.71
Debt to Total Capital	84.58%	88.78%	0.00%	85.60%	86.79%	84.84%	0.00%	233.85%	322.29%	64.56%
Short-Term Debt to Total Capital	0.00%	9.35%	4.50%	3.86%	3.35%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	78.83%	79.43%	84.83%	81.74%	83.44%	84.84%	0.00%	233.85%	257.83%	64.56%
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	14.24%	11.22%	10.67%	14.40%	13.21%	15.16%	0.00%	66.15%	106.63%	35.44%
Debt to EBITDA	8.21	9.48	9.69	7.92	8.73	15.23	11.69	15.31	13.21	9.52
Net Debt to EBITDA	21.27	7.91	13.41	5.42	4.99	10.23	13.80	31.48	4.25	3.22
Long-Term Debt to EBITDA	15.30	8.49	18.40	7.57	8.40	15.23	17.53	15.31	13.21	9.52
Debt to NOPAT	59.18	25.36	20.20	14.66	20.62	40.94	18.67	71.49	21.54	19.92
Net Debt to NOPAT	51.13	21.14	27.97	10.03	11.78	27.50	16.54	55.13	4.62	6.73
Long-Term Debt to NOPAT	55.16	22.69	38.37	14.00	19.83	40.94	37.34	107.24	21.54	19.92
Noncontrolling Interest Sharing Ratio	26.28%	4.36%	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)	-1,026	-146	-1,841	2,144	4,678	2,193	-17,740	23,495	-7,836	16,301
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	76.20	-0.34	-4.04	3.95	7.33	4.39	-46.32	16.41	-5.94	16.98
Operating Cash Flow to Interest Expense	10.66	4.96	11.41	5.08	1.91	3.77	20.14	7.35	11.30	1.94
Operating Cash Flow Less CapEx to Interest Expense	10.66	4.96	11.41	5.08	1.91	3.77	8.06	7.35	9.04	1.94
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.89	0.28	0.57	0.17	0.14	0.13	0.15	0.76	0.88	0.17
Fixed Asset Turnover	10.75	11.54	8.37	11.36	14.20	13.32	15.29	18.66	71.09	24.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	14,120	14,783	17,393	16,195	12,023	10,038	28,575	20,544	24,630	8,608
Invested Capital Turnover	1.44	0.46	0.00	0.31	0.29	0.30	0.33	2.43	1.19	0.23
Increase / (Decrease) in Invested Capital	1,631	663	2,610	-1,198	-4,172	-1,985	18,537	12,513	16,344	-16,022
Enterprise Value (EV)	25,397	22,610	23,250	16,855	10,705	9,029	8,234	5,918	3,291	4,903
Market Capitalization	14,911	11,668	12,491	7,368	4,746	3,309	3,841	1,802	1,589	3,025
Book Value per Share	$32.88	$28.71	$33.58	$42.81	$34.49	$31.89	$41.90	$181.73	$177.46	$61.37
Tangible Book Value per Share	($49.20)	($54.46)	($51.14)	$21.29	$10.42	$16.99	$28.10	$58.81	$131.12	$46.36
Total Capital	14,120	14,783	17,393	16,195	12,023	10,038	38,100	30,816	16,420	8,608
Total Debt	11,943	13,125	15,538	13,863	10,435	8,516	14,878	24,021	21,168	5,557
Total Long-Term Debt	11,131	11,742	14,756	13,238	10,033	8,516	14,878	8,007	15,876	5,557
Net Debt	10,318	10,942	10,759	9,487	5,960	5,720	17,572	12,348	5,106	1,878
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	-20	-18	228	-6.00	-12	2.00	76	2.00
Net Nonoperating Obligations (NNO)	11,943	13,125	15,538	13,863	10,435	8,516	29,756	16,014	15,876	5,557
Total Depreciation and Amortization (D&A)	524	547	542	535	533	258	687	669	702	203
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.26	$6.01	$11.55	$14.31	$4.37	$3.64	$16.09	$4.47	$14.39	$5.58
Adjusted Weighted Average Basic Shares Outstanding	75.91M	71.90M	68.34M	67.36M	61.35M	58.65M	49.70M	49.90M	49.80M	49.60M
Adjusted Diluted Earnings per Share	$7.21	$5.98	$11.49	$14.26	$4.45	$3.64	$16.02	$4.46	$14.34	$5.49
Adjusted Weighted Average Diluted Shares Outstanding	76.44M	72.26M	68.58M	67.60M	62.45M	58.77M	50M	50M	50M	50.40M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	72.71M	68.62M	68.05M	65.02M	58.43M	60.97M	49.95M	50.12M	49.42M	49.09M
Normalized Net Operating Profit after Tax (NOPAT)	605	518	769	946	506	208	1,594	224	1,474	279
Normalized NOPAT Margin	19.82%	7.71%	30.65%	18.45%	12.49%	6.31%	48.72%	17.56%	85.92%	7.27%
Pre Tax Income Margin	30.50%	12.47%	21.17%	23.71%	16.35%	9.13%	31.91%	15.68%	45.14%	9.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.82	1.95	2.33	2.24	1.04	0.60	5.45	1.19	2.20	0.40
NOPAT to Interest Expense	5.50	1.21	3.38	1.74	0.79	0.42	6.24	1.34	1.68	0.29
EBIT Less CapEx to Interest Expense	2.82	1.95	4.67	2.24	1.04	0.60	5.45	2.39	1.10	0.40
NOPAT Less CapEx to Interest Expense	3.67	1.21	1.69	1.74	0.79	0.42	4.16	1.34	2.52	0.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	5.80%	14.64%	13.00%	45.68%	28.50%	15.73%	57.85%	11.70%	15.52%
Augmented Payout Ratio	157.19%	160.12%	254.55%	59.02%	396.76%	28.50%	20.97%	73.99%	42.90%	35.38%

This table displays calculated financial ratios and metrics derived from Bread 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	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	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.04%	20.82%	39.96%	6.61%	5.31%	-1.55%	-23.12%	-1.37%	-4.66%	-9.05%	-2.12%
EBITDA Growth	-22.71%	-222.69%	100.29%	101.35%	13.47%	252.05%	-65.34%	55.70%	-67.63%	-91.44%	-0.82%
EBIT Growth	-27.03%	-423.44%	111.26%	437.50%	19.05%	127.54%	-70.53%	109.30%	-82.22%	-147.37%	4.79%
NOPAT Growth	-34.95%	-341.50%	115.64%	866.67%	58.21%	131.06%	-70.33%	107.81%	-98.27%	-142.00%	5.19%
Net Income Growth	-40.18%	-882.35%	116.67%	300.00%	27.61%	133.08%	-70.55%	177.08%	-98.83%	-81.82%	2.99%
EPS Growth	-39.82%	-885.29%	116.19%	280.00%	27.14%	132.96%	-70.26%	180.00%	-98.54%	-90.91%	2.96%
Operating Cash Flow Growth	28.00%	48.36%	-19.92%	78.86%	3.45%	24.14%	12.31%	39.07%	-27.50%	-22.37%	-12.08%
Free Cash Flow Firm Growth	277.15%	-2,048.32%	1,826.61%	7,223.14%	-37.04%	137.34%	-97.32%	-115.24%	-142.80%	86.93%	-811.76%
Invested Capital Growth	-16.14%	7.84%	-15.99%	-23.46%	-14.92%	-240.15%	1.11%	6.59%	8.59%	-47.58%	6.57%
Revenue Q/Q Growth	9.63%	5.52%	24.78%	-26.14%	8.30%	-1.36%	-2.56%	-5.25%	4.69%	-5.90%	4.86%
EBITDA Q/Q Growth	231.08%	-159.59%	580.14%	-156.57%	173.15%	-20.14%	9.46%	-4.53%	-61.21%	-78.89%	1,168.42%
EBIT Q/Q Growth	1,081.25%	-209.52%	408.21%	-173.04%	323.26%	-74.67%	229.82%	-4.26%	-77.78%	-167.50%	829.63%
NOPAT Q/Q Growth	1,016.67%	-208.13%	414.01%	-171.87%	170.31%	-73.99%	200.00%	-1.48%	-97.74%	-730.00%	851.32%
Net Income Q/Q Growth	1,016.67%	-199.25%	442.11%	-89.45%	512.50%	-74.27%	204.55%	-0.75%	-98.50%	300.00%	1,625.00%
EPS Q/Q Growth	976.00%	-199.26%	440.07%	-179.07%	260.00%	-74.27%	206.82%	-1.48%	-98.12%	60.00%	3,375.00%
Operating Cash Flow Q/Q Growth	147.15%	-18.26%	-19.92%	-13.82%	166.76%	-1.91%	-27.55%	6.71%	-4.40%	5.04%	-17.95%
Free Cash Flow Firm Q/Q Growth	2,654.04%	-742.42%	117.03%	23.20%	-79.08%	194.42%	-98.78%	-800.00%	-69.75%	1,385.99%	-104.66%
Invested Capital Q/Q Growth	-14.23%	146.63%	-63.01%	-2.18%	-9.34%	131.69%	-53.20%	3.12%	-2.88%	11.85%	-4.87%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	25.03%	-14.13%	54.38%	31.30%	53.93%	7.28%	24.52%	24.71%	9.16%	2.05%	24.85%
EBIT Margin	19.31%	-20.04%	49.50%	9.03%	43.65%	1.87%	18.97%	19.17%	4.07%	-2.92%	20.31%
Profit (Net Income) Margin	13.69%	-12.88%	35.30%	10.08%	16.59%	4.33%	13.52%	14.16%	0.20%	0.86%	14.23%
Tax Burden Percent	70.90%	64.25%	71.32%	55.81%	76.00%	0.00%	71.28%	73.89%	5.00%	-29.63%	70.05%
Interest Burden Percent	100.00%	0.00%	100.00%	100.00%	200.00%	0.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	29.10%	0.00%	28.68%	51.16%	46.22%	-136.84%	28.19%	26.11%	92.50%	0.00%	27.92%
Return on Invested Capital (ROIC)	5.47%	-5.42%	17.79%	3.34%	18.74%	1.32%	7.11%	7.34%	0.16%	-0.63%	7.04%
ROIC Less NNEP Spread (ROIC-NNEP)	5.47%	-5.27%	17.79%	3.07%	18.66%	1.31%	7.09%	7.34%	0.14%	-0.43%	6.96%
Return on Net Nonoperating Assets (RNNOA)	16.03%	-18.70%	41.62%	7.44%	18.00%	7.43%	11.77%	11.74%	0.21%	-1.90%	11.15%
Return on Equity (ROE)	21.50%	-24.12%	59.41%	10.77%	27.37%	8.75%	18.88%	19.08%	0.37%	-2.53%	18.19%
Cash Return on Invested Capital (CROIC)	22.13%	237.36%	23.00%	32.64%	23.38%	-109.01%	4.36%	-0.05%	-3.96%	130.26%	-2.76%
Operating Return on Assets (OROA)	3.19%	-3.25%	9.68%	3.54%	4.31%	0.33%	3.42%	3.49%	0.74%	-0.49%	3.47%
Return on Assets (ROA)	2.26%	-2.09%	6.90%	0.99%	3.28%	0.76%	2.44%	2.58%	0.04%	0.14%	2.43%
Return on Common Equity (ROCE)	21.50%	-24.12%	59.41%	10.77%	27.37%	8.75%	18.88%	19.08%	0.37%	-2.53%	18.19%
Return on Equity Simple (ROE_SIMPLE)	15.55%	0.00%	17.23%	18.42%	18.89%	0.00%	13.09%	15.21%	10.06%	0.00%	9.16%
Net Operating Profit after Tax (NOPAT)	134	-145	455	64	173	45	135	133	3.00	-19	142
NOPAT Margin	13.69%	-14.03%	35.30%	6.72%	16.78%	4.42%	13.62%	14.16%	0.31%	-2.04%	14.64%
Net Nonoperating Expense Percent (NNEP)	0.00%	-0.15%	0.00%	0.26%	0.04%	0.01%	0.02%	0.00%	0.02%	-0.20%	0.08%
SG&A Expenses to Revenue	32.79%	33.30%	25.91%	34.87%	30.94%	33.83%	31.79%	34.08%	34.49%	40.00%	34.12%
Operating Expenses to Revenue	49.64%	52.95%	42.20%	111.34%	97.38%	50.74%	48.64%	49.95%	58.39%	57.84%	49.18%
Earnings before Interest and Taxes (EBIT)	189	-207	638	86	225	57	188	180	40	-27	197
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	245	-146	701	149	278	222	243	232	90	19	241
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.62	0.80	0.54	0.56	0.59	0.54	0.60	0.69	0.76	0.99	0.80
Price to Tangible Book Value (P/TBV)	0.88	1.23	0.77	0.79	0.81	0.74	0.80	0.91	1.00	1.31	1.06
Price to Revenue (P/Rev)	0.41	0.95	0.35	0.36	0.39	1.90	0.46	0.55	0.60	0.79	0.64
Price to Earnings (P/E)	4.02	8.08	3.15	3.06	3.13	6.77	4.59	4.56	7.55	10.92	8.75
Dividend Yield	2.79%	5.79%	3.57%	6.82%	6.24%	12.91%	1.71%	1.42%	1.32%	1.38%	1.68%
Earnings Yield	24.89%	36.80%	31.71%	32.71%	32.00%	133.95%	21.78%	21.91%	13.24%	9.16%	11.43%
Enterprise Value to Invested Capital (EV/IC)	0.46	0.58	0.36	0.39	0.36	1.62	0.35	0.37	0.45	0.57	0.41
Enterprise Value to Revenue (EV/Rev)	1.05	1.55	0.66	0.69	0.59	1.55	0.67	0.73	0.89	1.28	0.88
Enterprise Value to EBITDA (EV/EBITDA)	4.88	11.32	3.15	3.07	5.52	1.38	3.61	3.51	5.47	8.40	5.79
Enterprise Value to EBIT (EV/EBIT)	6.74	19.79	4.32	4.13	3.41	1.13	5.19	4.74	8.19	12.87	8.63
Enterprise Value to NOPAT (EV/NOPAT)	9.22	53.00	5.87	5.60	4.53	6.76	6.44	5.97	11.07	17.57	11.77
Enterprise Value to Operating Cash Flow (EV/OCF)	2.28	9.65	1.57	1.58	1.36	5.02	1.32	1.34	1.75	2.64	1.87
Enterprise Value to Free Cash Flow (EV/FCFF)	1.90	0.25	1.44	1.04	1.41	0.00	8.07	0.00	0.00	0.30	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.47	7.07	1.80	3.43	1.47	5.44	1.53	1.50	1.47	1.82	1.67
Long-Term Debt to Equity	2.47	7.07	1.80	1.72	2.95	5.44	1.53	1.50	1.47	1.82	1.67
Financial Leverage	2.93	7.10	2.34	2.42	3.86	11.31	1.66	1.60	1.47	4.48	1.60
Leverage Ratio	9.52	44.49	8.61	8.66	8.28	28.10	7.70	7.41	7.25	7.71	7.32
Compound Leverage Factor	9.52	0.00	8.61	17.33	16.56	0.00	7.70	7.41	7.25	7.71	7.32
Debt to Total Capital	71.20%	155.90%	64.26%	63.20%	59.59%	193.37%	60.54%	60.00%	59.56%	64.56%	62.54%
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	71.20%	77.95%	64.26%	63.20%	59.59%	64.46%	60.54%	60.00%	59.56%	64.56%	62.54%
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	28.80%	44.10%	35.74%	36.80%	80.82%	177.71%	39.46%	40.01%	40.44%	35.44%	37.46%
Debt to EBITDA	7.53	15.31	5.59	4.95	4.30	2.20	6.25	5.75	7.17	9.52	8.80
Net Debt to EBITDA	2.98	39.35	1.46	1.45	1.83	0.71	1.16	0.85	1.77	3.22	1.56
Long-Term Debt to EBITDA	7.53	45.93	5.59	9.90	4.30	3.30	6.25	5.75	7.17	9.52	8.80
Debt to NOPAT	14.22	71.49	10.44	9.03	7.55	14.36	11.16	9.78	14.51	19.92	17.91
Net Debt to NOPAT	5.63	18.38	2.72	2.64	3.02	2.31	2.07	1.44	3.59	6.73	3.18
Long-Term Debt to NOPAT	14.22	107.24	10.44	9.03	7.55	10.77	11.16	9.78	14.51	19.92	17.91
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)	1,738	-11,164	1,901	2,342	1,416	4,169	51	-357	-606	7,793	-363
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	13.07	-56.96	8.72	22.85	6.47	17.59	0.21	-1.48	-2.53	33.74	-1.61
Operating Cash Flow to Interest Expense	4.57	2.54	1.83	1.67	2.87	2.60	1.80	1.98	1.90	2.07	1.75
Operating Cash Flow Less CapEx to Interest Expense	4.57	2.54	1.83	3.35	5.74	2.60	1.80	1.98	1.90	2.07	1.75
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.17	1.07	0.20	0.20	0.40	0.35	0.18	0.18	0.18	0.17	0.17
Fixed Asset Turnover	14.70	18.66	20.97	22.33	23.65	94.78	23.07	24.94	25.52	24.84	25.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,330	20,544	7,600	7,434	7,087	16,420	7,684	7,924	7,696	8,608	8,189
Invested Capital Turnover	0.40	1.13	0.50	0.50	0.56	0.30	0.52	0.52	0.53	0.31	0.48
Increase / (Decrease) in Invested Capital	-1,604	11,019	-1,446	-2,278	-1,243	-12,372	84	490	609	-7,812	505
Enterprise Value (EV)	3,847	5,918	2,749	2,914	2,534	13,308	2,686	2,901	3,497	4,903	3,368
Market Capitalization	1,499	1,802	1,476	1,541	1,691	1,589	1,823	2,200	2,364	3,025	2,459
Book Value per Share	$48.13	$181.73	$54.19	$54.59	$57.02	$118.30	$61.35	$63.93	$62.64	$61.37	$62.49
Tangible Book Value per Share	$34.29	$58.81	$38.43	$39.03	$41.67	$87.41	$46.11	$48.93	$47.47	$46.36	$47.46
Total Capital	8,330	41,088	7,600	7,434	7,087	24,630	7,684	7,924	7,696	8,608	8,189
Total Debt	5,931	24,021	4,884	4,698	4,223	10,584	4,652	4,754	4,584	5,557	5,121
Total Long-Term Debt	5,931	24,021	4,884	4,698	4,223	15,876	4,652	4,754	4,584	5,557	5,121
Net Debt	2,348	12,348	1,273	1,373	843	3,404	863	701	1,133	1,878	909
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	-12	0.00	16	2.00	2.00	1.00	0.00	1.00	-27	4.00
Net Nonoperating Obligations (NNO)	5,931	24,021	4,884	4,698	4,223	21,168	4,652	4,754	4,584	5,557	5,121
Total Depreciation and Amortization (D&A)	56	183	63	63	53	110	55	52	50	46	44
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.69	($2.67)	$9.10	$0.95	$3.44	$0.88	$2.71	$2.69	$0.05	$0.13	$2.81
Adjusted Weighted Average Basic Shares Outstanding	49.80M	49.90M	50M	50.10M	49.90M	49.80M	49.50M	49.60M	49.70M	49.60M	49M
Adjusted Diluted Earnings per Share	$2.69	($2.67)	$9.08	$0.95	$3.42	$0.88	$2.70	$2.66	$0.05	$0.08	$2.78
Adjusted Weighted Average Diluted Shares Outstanding	49.90M	50M	50.10M	50.30M	50.10M	50M	49.70M	50.20M	51M	50.40M	49.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	($2.67)	$0.00	$0.00	$0.00	$0.88	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	49.85M	50.12M	50.12M	50.22M	49.33M	49.42M	49.58M	49.68M	49.72M	49.09M	46.55M
Normalized Net Operating Profit after Tax (NOPAT)	134	-145	455	64	173	27	135	133	28	-19	142
Normalized NOPAT Margin	13.69%	-14.03%	35.30%	6.72%	16.78%	1.31%	13.62%	14.16%	2.85%	-2.04%	14.64%
Pre Tax Income Margin	19.31%	-20.04%	49.50%	18.07%	21.82%	1.87%	18.97%	19.17%	4.07%	-2.92%	20.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.42	-1.06	2.93	0.84	1.03	0.08	0.76	0.75	0.17	-0.12	0.88
NOPAT to Interest Expense	1.01	-0.74	2.09	0.31	1.58	0.19	0.54	0.55	0.01	-0.08	0.63
EBIT Less CapEx to Interest Expense	1.42	-1.06	2.93	0.84	1.03	0.08	0.76	0.75	0.17	-0.12	0.88
NOPAT Less CapEx to Interest Expense	1.01	-0.74	2.09	0.62	1.58	0.19	0.54	0.55	0.01	-0.08	0.63
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	11.53%	38.57%	9.40%	16.67%	7.95%	11.70%	10.58%	8.92%	13.42%	15.52%	15.66%
Augmented Payout Ratio	14.75%	98.65%	9.40%	16.67%	14.42%	10.72%	22.17%	18.46%	16.93%	35.38%	67.97%

Key Financial Trends

Bread Financial (NYSE: BFH) has shown notable financial performance improvements over the trailing year through Q1 2025 compared to prior periods, following several years of fluctuating results impacted by credit losses and operational costs.

Key positive financial trends and highlights:

Net income attributable to common shareholders surged to $138 million in Q1 2025 from just $8 million in Q4 2024, reflecting a strong quarterly turnaround.
Q1 2025 delivered a robust basic earnings per share (EPS) of $2.81, markedly higher than $0.13 in the previous quarter, indicating improved profitability on a per-share basis.
Net interest income has been steadily increasing, reaching $1.006 billion in Q1 2025, supported by strong loans and leases interest income stable around $1.18 billion.
Provision for credit losses significantly decreased from elevated levels in prior quarters ($417 million in Q4 2024 down to $296 million in Q1 2025), indicating easing credit risk pressures.
Operating cash flow remained strong at $393 million in Q1 2025, showing good cash generation from core operations over time.
Total assets increased slightly to $22.38 billion as of Q1 2025, supported by healthy net loans and leases balances around $15.6 billion, reflecting growth in core lending activities.
The company maintains a solid equity base of approximately $3.07 billion as of Q1 2025, bolstering financial stability.

Neutral observations:

Non-interest income remains a drag with a negative total of approximately -$36 million in Q1 2025, largely due to negative "Other Non-Interest Income" components.
Marketing and operating expenses, while stable, constitute a considerable portion of non-interest expense with $35 million in marketing and total non-interest expense of $477 million in Q1 2025.
Repayment of debt and repurchase of common equity in Q1 2025 were sizable at $732 million and $103 million respectively, reflecting active capital management strategies.

Potential concerns or negative trends:

Prior periods show volatile and historically high provisions for credit losses (peaking at $693 million in Q4 2022), indicating ongoing credit risk challenges in past years.
Operating expenses including salaries and benefits, occupancy, and other operating costs remain high, totaling in the range of $470-$547 million per quarter historically, which pressures profitability.
In Q4 2022, the company recorded a net loss of $133 million, illustrating the impact of elevated credit losses and expense pressures during that period.
Trading account securities and intangible assets have remained relatively flat or slightly increased, which may limit growth opportunities from other asset categories.

Summary: Bread Financial has made substantial progress in improving profitability and net income through the first quarter of 2025, driven by stabilized interest income and a decline in credit loss provisions. The operating cash flow remains healthy, and loans growth supports total assets expansion. However, non-interest expense remains a significant factor, and the company continues to manage historical challenges from credit losses. Investors should watch for sustained improvement in credit expense and continued operational efficiency to support further earnings growth.

08/29/25 05:51 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Bread Financial's Financials

When does Bread Financial's financial year end?

According to the most recent income statement we have on file, Bread Financial's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Bread Financial's net income changed over the last 9 years?

Bread Financial's net income appears to be on a downward trend, with a most recent value of $277 million in 2024, falling from $605.40 million in 2015. The previous period was $718 million in 2023. Find out what analysts predict for Bread Financial in the coming months.

How has Bread Financial's revenue changed over the last 9 years?

Over the last 9 years, Bread Financial's total revenue changed from $6.11 billion in 2015 to $3.84 billion in 2024, a change of -37.2%.

How much debt does Bread Financial have?

Bread Financial's total liabilities were at $19.84 billion at the end of 2024, a 1.9% decrease from 2023, and a 1.6% decrease since 2015.

How much cash does Bread Financial have?

In the past 9 years, Bread Financial's cash and equivalents has ranged from $1.17 billion in 2015 to $4.19 billion in 2017, and is currently $3.68 billion as of their latest financial filing in 2024.

How has Bread Financial's book value per share changed over the last 9 years?

Over the last 9 years, Bread Financial's book value per share changed from 32.88 in 2015 to 61.37 in 2024, a change of 86.7%.

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This page (NYSE:BFH) was last updated on 8/29/2025 by MarketBeat.com Staff

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Bread Financial (BFH) Financials

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Bread Financial (BFH) Financials

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