NewtekOne, Inc. NEWT
We are a financial holding company subject to the regulation and supervision of the Federal Reserve and the Federal Reserve Bank of Atlanta that, together with our consolidated subsidiaries, provides a wide range of business and financial solutions under the Newtek® and NewtekOne® brands to the independent business owner (SMB) market.
Prior to January 6, 2023 when we acquired Newtek Bank and converted to a financial holding company, we operated as an internally managed non-diversified closed-end management investment company that was regulated as a BDC under the 1940 Act, and was treated as a RIC under the Code for U.S. federal income tax purposes. See "Executive Overview - Conversion to a Financial Holding Company."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Interest expense | $59.9M | $40.3M | $26.6M | $12.3M | $20.5M | — |
| Pre-tax income | $80.0M | $68.7M | $49.3M | $38.8M | $85.5M | — |
| Income tax | $19.5M | $17.8M | $2.0M | $6.5M | $1.3M | — |
| Net income | $60.5M | $50.9M | $47.3M | $32.3M | $84.1M | — |
| EPS, basic | 2.21 | 1.97 | 1.89 | 1.34 | 3.69 | — |
| EPS, diluted | 2.18 | 1.96 | 1.88 | 1.34 | 3.69 | — |
| Shares, diluted (wtd. avg.) | $26.7M | $25.2M | $24.3M | $24.2M | $22.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $310.3M | $381.4M | $184.0M | $125.6M | $186.9M | $51.4M |
| Goodwill | $14.1M | $14.1M | $25.9M | $0 | — | — |
| Other intangibles | $512.0K | $667.0K | $4.2M | $0 | — | — |
| Total assets | $2.74B | $2.06B | $1.43B | $998.9M | — | — |
| Long-term debt | $819.9M | $708.0M | $644.1M | $539.3M | — | — |
| Total liabilities | $2.35B | $1.76B | $1.18B | $623.5M | — | — |
| Retained earnings | $95.0M | $57.8M | $28.1M | $20.6M | — | — |
| Total equity | $397.6M | $296.3M | $249.0M | $375.4M | $403.9M | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$579.2M | -$153.0M | -$169.2M | -$62.4M | $140.9M | — |
| Depreciation and amortisation | $668.0K | $1.8M | $2.9M | $239.0K | $304.0K | — |
| Stock-based compensation | $4.1M | $4.1M | $2.8M | $0 | $0 | — |
| Capital expenditure | $106.0K | $439.0K | $458.0K | $11.0K | $0 | — |
| Investing cash flow | -$245.3M | -$209.1M | -$172.2M | -$11.0K | $0 | — |
| Financing cash flow | $753.5M | $560.9M | $345.0M | $1.2M | -$5.5M | — |
| Dividends paid | $28.0M | $20.3M | $14.1M | $64.5M | $70.1M | — |
| Buybacks | $0 | $402.0K | $0 | $0 | — | — |
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 0001628280-26-027133.
Others in SIC 6021
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |