PATHWARD FINANCIAL, INC. CASH
Pathward Financial, a registered bank holding company ("BHC") that has elected to be a financial holding company ("FHC"), was incorporated in Delaware on June 14, 1993. Pathward Financial's principal assets are all the issued and outstanding shares of the Bank, a chartered national bank, the accounts of which are insured up to applicable limits by the Federal Deposit Insurance Corporation ("FDIC") as administrator of the Deposit Insurance Fund ("DIF"). Unless the context otherwise requires, references herein to the Company include Pathward Financial and the Bank, and all subsidiaries of Pathward Financial, direct or indirect, on a consolidated basis.
As a nationwide provider of payments and commercial finance products, the Company has offices across the country. The principal executive office is located at 5501 South Broadband Lane, Sioux Falls, South Dakota, 57108. Its telephone number at that address is (877) 497-7497. The Company is subject to comprehensive regulation and supervision. See "Regulation and Supervision" herein.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $839.9M | $797.4M | $421.9M | $329.4M | $285.9M | $292.8M | $325.7M | $158.5M | $108.1M | $81.4M |
| SG&A | $0 | $0 | $0 | — | — | — | — | — | — | — |
| Interest expense | $511.8M | $497.8M | $411.1M | $324.6M | $6.9M | $33.8M | $61.5M | $28.0M | $14.9M | $4.1M |
| Pre-tax income | $223.1M | $218.6M | $155.0M | $180.3M | $156.4M | $115.0M | $97.9M | $57.4M | $55.1M | $38.8M |
| Income tax | $36.3M | $34.1M | $9.6M | $26.2M | $10.7M | $5.7M | $3.4M | $5.1M | $10.2M | $5.6M |
| Net income | $185.9M | $183.2M | $143.3M | $151.1M | $141.7M | $104.7M | $97.0M | $51.6M | $44.9M | $33.2M |
| EPS, basic | 7.91 | 7.21 | 5.26 | 5.09 | 4.38 | 2.94 | 2.49 | 1.68 | 1.62 | 1.31 |
| EPS, diluted | 7.87 | 7.20 | 5.24 | 5.09 | 4.38 | 2.94 | 2.49 | 1.67 | 1.61 | 1.30 |
| Shares, diluted (wtd. avg.) | $23.5M | $25.2M | $26.9M | $29.2M | $31.8M | $34.8M | $38.0M | $30.9M | $27.9M | $25.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $120.6M | $158.3M | $375.6M | $388.0M | $1.23B | $427.4M | $126.5M | $100.0M | $1.27B | $773.8M |
| Property, plant and equipment | $40.6M | $39.1M | $38.6M | $42.1M | $44.1M | $41.6M | $45.9M | $40.5M | $19.3M | $18.6M |
| Goodwill | $297.9M | $309.5M | $309.5M | $309.5M | $309.5M | $309.5M | $309.5M | $303.3M | $98.7M | $36.9M |
| Other intangibles | $12.5M | $16.6M | $20.7M | $25.7M | $33.1M | $41.7M | $52.8M | $70.7M | $52.2M | $28.9M |
| Total assets | $7.17B | $7.53B | $7.50B | $6.72B | $7.60B | $6.09B | $6.18B | $5.84B | $5.23B | $4.01B |
| Short-term debt | $9.0M | $377.0M | $13.0M | $0 | $0 | $0 | $646.0M | $425.8M | $1.40B | $1.10B |
| Long-term debt | $33.5M | $33.4M | $34.2M | $16.6M | $92.3M | $98.2M | $215.8M | $89.0M | — | — |
| Total liabilities | $6.31B | $6.71B | $6.78B | $6.00B | $6.78B | $5.24B | $5.34B | $5.09B | $4.79B | $3.67B |
| Retained earnings | $359.8M | $337.1M | $245.4M | $234.9M | $211.7M | $234.9M | $252.8M | $213.0M | $167.2M | $127.2M |
| Total equity | $858.0M | $822.5M | $618.3M | $633.2M | $819.2M | $847.3M | $844.0M | $747.7M | $434.5M | $335.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $450.6M | $488.8M | $327.9M | $290.0M | $581.6M | $467.2M | $191.0M | $137.8M | $120.0M | $78.5M |
| Depreciation and amortisation | $59.7M | $57.8M | $65.0M | $61.6M | $59.0M | $60.7M | $55.1M | $37.7M | $45.0M | $35.6M |
| Stock-based compensation | $9.5M | $10.3M | $11.1M | $10.0M | $6.9M | $10.2M | $12.9M | $11.1M | $10.4M | $486.0K |
| Capital expenditure | $11.7M | $10.1M | $8.6M | $8.2M | $13.0M | $12.3M | $14.0M | $8.5M | $6.8M | $7.0M |
| Investing cash flow | $25.8M | -$262.9M | -$945.6M | -$332.1M | -$1.12B | -$206.3M | -$339.2M | -$389.8M | -$700.4M | -$738.5M |
| Financing cash flow | -$513.0M | -$443.2M | $604.9M | $117.8M | $422.9M | $40.0M | $174.9M | -$915.6M | $1.07B | $1.41B |
| Dividends paid | $4.7M | $5.1M | $5.4M | $5.9M | $6.4M | $7.1M | $7.8M | $5.7M | $4.8M | $4.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000907471-25-000116.
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