A Business at a Glance
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Axos Financial, Inc.
AX
$5.6B
Mkt Cap
$95.83
+0.64%
Axos Financial, Inc. (AX) has a current P/E ratio of 12.2, compared to its historical median P/E of 9.8. The stock is currently considered Fair based on its historical valuation range.
Axos Financial, Inc. (AX) has a 5-year average return on invested capital (ROIC) of 15.0%. This indicates solid capital allocation.
Axos Financial, Inc. (AX) has a market capitalization of $5.5B. It is classified as a mid-cap stock.
Axos Financial, Inc. (AX) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.07%.
Based on historical P/E analysis, Axos Financial, Inc. (AX) appears fair. The current P/E of 12.2 is 24% above its historical median of 9.8. The estimated fair value CAGR (P/E method) is 19.8%.
Axos Financial, Inc. (AX) operates in the Savings Institution, Federally Chartered industry, within the Financials sector.
Axos Financial, Inc. (AX) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
ITEM 1. BUSINESS Our Company is a technology-driven, diversified financial services company with approximately $24.8 billion in assets and approximately $39.4 billion of assets under custody and/or administration at Axos Clearing LLC (“Axos Clearing”). Our client-centric, technology-enabled services model provides secure and scalable banking, clearing and custody, and investment advisory solutions to retail and business customers. Axos Bank (the “Bank”) provides consumer and commercial banking products and services through its digital online and mobile banking platforms, low-cost distribution channels and affinity partners. Our Bank offers deposit and lending products to customers nationwide including consumer and business checking, savings and time deposit accounts and single family and multifamily residential mortgages, commercial real estate mortgages and loans, fund and lender finance loans, asset-based loans, auto loans, retail and floor plan marine loans and other consumer loans.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.4B | 1.9B | 1.9B | 1.3B | 773M | 723M |
| Net Income | 476M | 433M | 450M | 307M | 241M | 216M |
| EPS | $8.40 | $7.43 | $7.66 | $5.07 | $3.97 | $3.56 |
| Free Cash Flow | 255M | 436M | 270M | 166M | 195M | 402M |
| ROIC | 0.0% | 15.4% | 18.4% | 14.1% | 13.0% | 14.0% |
| Gross Margin | - | 64.6% | 63.0% | 70.7% | 92.5% | 89.1% |
| Debt/Equity | 0.21 | 0.12 | 0.14 | 0.19 | 0.27 | 0.16 |
| Dividends/Share | $0.00 | - | - | $0.00 | $0.00 | $0.00 |
| Operating Income | 0 | 613M | 635M | 432M | 340M | 306M |
| Operating Margin | 0.0% | 31.5% | 33.8% | 33.8% | 44.0% | 42.3% |
| ROE | 15.5% | 17.4% | 21.4% | 17.3% | 15.8% | 16.4% |
| Shares Outstanding | 57M | 58M | 59M | 61M | 61M | 61M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 195M | 275M | 384M | 455M | 546M | 648M | 726M | 723M | 773M | 1.3B | 1.9B | 1.9B | 1.4B |
| Gross Margin | 78.9% | 79.4% | 82.7% | 81.3% | 75.8% | 71.6% | 74.2% | 89.1% | 92.5% | 70.7% | 63.0% | 64.6% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 32M | 44M | 67M | 82M | 101M | 127M | 144M | 153M | 167M | 204M | 251M | 298M | 55M |
| EBIT | 94M | 141M | 205M | 233M | 240M | 213M | 263M | 306M | 340M | 432M | 635M | 613M | 0 |
| Op. Margin | 48.3% | 51.2% | 53.4% | 51.1% | 43.9% | 32.9% | 36.2% | 42.3% | 44.0% | 33.8% | 33.8% | 31.5% | 0.0% |
| Net Income | 56M | 82M | 119M | 134M | 152M | 155M | 183M | 216M | 241M | 307M | 450M | 433M | 476M |
| Net Margin | 28.5% | 30.0% | 31.0% | 29.5% | 27.9% | 23.9% | 25.2% | 29.8% | 31.1% | 24.0% | 24.0% | 22.2% | 33.5% |
| Non-Recurring | 2.4M | 7.4M | 4.9M | 15M | 6.3M | 2.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 17.4% | 18.2% | 19.6% | 17.7% | 16.4% | 13.7% | 13.5% | 14.0% | 13.0% | 14.1% | 18.4% | 15.4% | 0.0% |
| ROE | 17.4% | 18.2% | 19.6% | 17.7% | 16.9% | 15.2% | 15.9% | 16.4% | 15.8% | 17.3% | 21.4% | 17.4% | 15.5% |
| ROA | 1.5% | 1.6% | 1.8% | 1.7% | 1.7% | 1.5% | 1.5% | 1.5% | 1.5% | 1.6% | 2.1% | 1.8% | 1.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 21M | 116M | 167M | 198M | 168M | 204M | 284M | 413M | 217M | 197M | 305M | 490M | 448M |
| Free Cash Flow | 18M | 111M | 157M | 190M | 156M | 184M | 272M | 402M | 195M | 166M | 270M | 436M | 255M |
| Owner Earnings | 14M | 106M | 151M | 178M | 139M | 165M | 238M | 377M | 182M | 158M | 254M | 427M | 350M |
| CapEx | 3.2M | 5.1M | 10M | 8.8M | 12M | 20M | 12M | 10M | 22M | 30M | 36M | 54M | 193M |
| Maint. CapEx | 2.9M | 3.3M | 4.8M | 6.1M | 8.6M | 16M | 24M | 14M | 13M | 12M | 16M | 22M | 54M |
| Growth CapEx | 289K | 1.8M | 5.4M | 2.7M | 3.2M | 3.6M | 0 | 0 | 8.4M | 18M | 20M | 33M | 139M |
| D&A | 2.9M | 3.3M | 4.8M | 6.1M | 8.6M | 16M | 24M | 14M | 13M | 12M | 16M | 22M | 54M |
| CapEx/OCF | 14.8% | 4.4% | 4.9% | 4.4% | 7.0% | 9.8% | 4.3% | 2.5% | 10.2% | 15.4% | 11.8% | 11.1% | 43.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 309K | 309K | 309K | 309K | 309K | 232K | 386K | 103K | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 35M | 56M | 39M | 17M | 0 | 49M | 96M | 58M | 58M |
| Buyback Yield | N/A | N/A | N/A | N/A | 1.3% | 3.3% | 3.2% | 0.6% | N/A | 2.2% | 2.9% | 1.3% | 1.1% |
| Stock-Based Comp | 4.4M | 6.6M | 11M | 15M | 20M | 23M | 22M | 21M | 21M | 26M | 35M | 42M | 44M |
| Debt Repayment | 65M | 10M | 0 | 15M | 20M | 0 | 0 | 152M | 2.1M | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | -749M | -916M | -1.9B | -1.0B | -1.4B | -1.9B | -1.7B | -1.6B | -534M |
| Cash & Equiv. | 156M | 223M | 487M | 644M | 623M | 857M | 2.0B | 1.0B | 1.6B | 2.2B | 2.0B | 1.9B | 1.2B |
| Long-Term Debt | N/A | N/A | N/A | N/A | 55M | 169M | 236M | 221M | 445M | 362M | 326M | 313M | 200M |
| Debt/Equity | 10.88 | 9.92 | 10.12 | 9.19 | 0.06 | 0.16 | 0.19 | 0.16 | 0.27 | 0.19 | 0.14 | 0.12 | 0.21 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 371M | 534M | 684M | 834M | 961M | 1.1B | 1.2B | 1.4B | 1.6B | 1.9B | 2.3B | 2.7B | 3.1B |
| Total Assets | 4.4B | 5.8B | 7.6B | 8.5B | 9.5B | 11.2B | 13.9B | 14.3B | 17.4B | 20.3B | 22.9B | 24.8B | 29.2B |
| Total Liabilities | 4.0B | 5.3B | 6.9B | 7.7B | 8.6B | 10.1B | 12.6B | 12.9B | 15.8B | 18.4B | 20.6B | 22.1B | 26.2B |
| Intangibles | N/A | N/A | N/A | 0 | 32M | 64M | 54M | 45M | 61M | 54M | 44M | 37M | 67M |
| Retained Earnings | 183M | 266M | 385M | 519M | 671M | 826M | 1.0B | 1.2B | 1.4B | 1.7B | 2.2B | 2.6B | 3.0B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.24 | 0.34 | 1.87 | 2.10 | 2.37 | 2.48 | 2.98 | 3.56 | 3.97 | 5.07 | 7.66 | 7.43 | 8.40 |
| Owner EPS | 0.06 | 0.43 | 2.37 | 2.78 | 2.16 | 2.64 | 3.87 | 6.24 | 3.01 | 2.61 | 4.32 | 7.32 | 6.15 |
| Book Value | 1.60 | 2.17 | 10.74 | 13.03 | 14.97 | 17.19 | 20.03 | 23.14 | 27.10 | 31.64 | 38.99 | 46.01 | 53.89 |
| Cash Flow/Share | 0.09 | 0.47 | 2.62 | 3.10 | 2.62 | 3.27 | 4.62 | 6.82 | 3.57 | 3.25 | 5.20 | 8.42 | 9.32 |
| Dividends/Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | N/A | N/A | 0.00 |
| Shares Out. | 231.9M | 245.9M | 63.6M | 64.0M | 64.2M | 62.4M | 61.5M | 60.5M | 60.6M | 60.6M | 58.7M | 58.3M | 56.9M |
| Valuation | |||||||||||||
| P/E Ratio | 19.5 | 19.9 | 8.8 | 11.3 | 17.2 | 11.0 | 6.6 | 13.1 | 9.3 | 7.4 | 7.5 | 10.3 | 11.4 |
| P/FCF | 239.6 | 59.0 | 6.6 | 8.0 | 16.8 | 9.2 | 4.5 | 7.0 | 11.4 | 13.6 | 12.5 | 10.3 | 21.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 2.9 | 3.1 | 1.5 | 1.8 | 2.7 | 1.6 | 1.0 | 2.0 | 1.4 | 1.2 | 1.5 | 1.7 | 1.8 |
| Price/Sales | 6.7 | 5.6 | 4.5 | 4.0 | 4.8 | 4.1 | 2.7 | 3.4 | 4.1 | 2.7 | 2.4 | 3.2 | 3.8 |
| FCF Yield | 1.7% | 6.8% | 14.9% | 12.4% | 6.0% | 10.8% | 22.4% | 14.3% | 8.7% | 7.4% | 8.0% | 9.7% | 4.7% |
| Market Cap | 1.1B | 1.6B | 1.1B | 1.5B | 2.6B | 1.7B | 1.2B | 2.8B | 2.2B | 2.3B | 3.4B | 4.5B | 5.5B |
| Avg. Price | 18.44 | 20.76 | 22.70 | 23.83 | 32.70 | 32.08 | 25.45 | 36.22 | 48.78 | 40.08 | 47.65 | 68.48 | 95.83 |
| Year-End Price | 18.76 | 26.62 | 16.34 | 23.82 | 40.82 | 27.25 | 19.75 | 46.53 | 36.78 | 37.30 | 57.15 | 76.85 | 95.83 |
Axos Financial, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Axos Financial, Inc. trades at 12.2x trailing earnings, compared to its 15-year median P/E of 9.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.9x vs a median of 9.7x. The company's 5-year average ROIC is 15.0% with a gross margin of 76.0%. Total shareholder yield (buybacks) is 1.1%. At current prices, the estimated annualized return to fair value is +4.4%.
Axos Financial, Inc. (AX) has a net profit margin of 22.2%. This is a strong margin indicating high profitability.
Axos Financial, Inc. (AX) generated $436 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Axos Financial, Inc. (AX) has a debt-to-equity ratio of 0.12. This indicates a conservatively financed balance sheet.
Axos Financial, Inc. (AX) reported earnings per share (EPS) of $7.43 in its most recent fiscal year.
Axos Financial, Inc. (AX) has a return on equity (ROE) of 17.4%. This indicates the company generates strong returns for shareholders.
Axos Financial, Inc. (AX) has a 5-year average gross margin of 76.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for Axos Financial, Inc. (AX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Axos Financial, Inc. (AX) has a book value per share of $46.01, based on its most recent annual SEC filing.