A Business at a Glance
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PATHWARD FINANCIAL, INC.
CASH
$2.0B
Mkt Cap
$85.90
+3.34%
PATHWARD FINANCIAL, INC. (CASH) has a current P/E ratio of 10.5, compared to its historical median P/E of 10.6. The stock is currently considered Fair based on its historical valuation range.
PATHWARD FINANCIAL, INC. (CASH) has a 5-year average return on invested capital (ROIC) of 19.5%. This indicates strong capital allocation and a potential competitive advantage.
PATHWARD FINANCIAL, INC. (CASH) has a market capitalization of $1.9B. It is classified as a small-cap stock.
Yes, PATHWARD FINANCIAL, INC. (CASH) pays a dividend with a trailing twelve-month yield of 0.24%. The company also returns capital through share buybacks, with a buyback yield of 0.18%.
Based on historical P/E analysis, PATHWARD FINANCIAL, INC. (CASH) appears fair. The current P/E of 10.5 is 1% below its historical median of 10.6. The estimated fair value CAGR (P/E method) is 21.0%.
PATHWARD FINANCIAL, INC. (CASH) operates in the National Commercial Banks industry, within the Financials sector.
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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 832M | 851M | 819M | 739M | 623M | 557M |
| Net Income | 189M | 185M | 182M | 141M | 149M | 139M |
| EPS | $8.28 | $7.87 | $7.20 | $5.24 | $5.09 | $4.38 |
| Free Cash Flow | 663M | 237M | 212M | -122M | -143M | 518M |
| ROIC | 0.0% | 21.2% | 22.8% | 19.9% | 18.7% | 15.0% |
| Gross Margin | - | 92.7% | 91.4% | 83.7% | 94.6% | 89.8% |
| Debt/Equity | 0.07 | 0.06 | 0.96 | 0.13 | 0.05 | 0.11 |
| Dividends/Share | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 |
| Operating Income | 0 | 27M | 23M | 22M | 17M | 26M |
| Operating Margin | 0.0% | 3.1% | 2.8% | 3.0% | 2.8% | 4.7% |
| ROE | 22.2% | 22.0% | 23.8% | 20.9% | 20.3% | 16.7% |
| Shares Outstanding | 22M | 24M | 25M | 27M | 29M | 32M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 100M | 120M | 182M | 280M | 343M | 548M | 533M | 557M | 623M | 739M | 819M | 851M | 832M |
| Gross Margin | 96.5% | 96.8% | 95.2% | 90.9% | 83.3% | 78.6% | 81.5% | 89.8% | 94.6% | 83.7% | 91.4% | 92.7% | 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 | 38M | 46M | 62M | 89M | 109M | 156M | 136M | 151M | 171M | 184M | 201M | 200M | -101M |
| EBIT | 19M | 19M | 39M | 55M | 8.3M | 10.0M | 15M | 26M | 17M | 22M | 23M | 27M | 0 |
| Op. Margin | 18.5% | 16.2% | 21.3% | 19.7% | 2.4% | 1.8% | 2.7% | 4.7% | 2.8% | 3.0% | 2.8% | 3.1% | 0.0% |
| Net Income | 16M | 18M | 33M | 45M | 52M | 95M | 102M | 139M | 149M | 141M | 182M | 185M | 189M |
| Net Margin | 15.7% | 15.1% | 18.2% | 16.0% | 15.0% | 17.3% | 19.2% | 25.0% | 23.9% | 19.1% | 22.2% | 21.7% | 22.7% |
| Non-Recurring | 0 | 0 | 0 | 10M | 0 | 0 | 19M | 0 | 0 | 0 | 0 | 15M | 15M |
| Returns on Capital | |||||||||||||
| ROIC | 9.9% | 7.8% | 9.3% | 9.5% | 7.6% | 10.0% | 10.2% | 15.0% | 18.7% | 19.9% | 22.8% | 21.2% | 0.0% |
| ROE | 9.9% | 8.1% | 11.0% | 11.7% | 8.8% | 11.9% | 12.2% | 16.7% | 20.3% | 20.9% | 23.8% | 22.0% | 22.2% |
| ROA | 0.8% | 0.8% | 1.0% | 1.0% | 0.9% | 1.6% | 1.7% | 2.0% | 2.1% | 1.9% | 2.4% | 2.5% | 2.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 26M | 49M | 78M | 120M | 138M | 191M | 467M | 582M | 290M | 328M | 489M | 451M | 675M |
| Free Cash Flow | 23M | 44M | 72M | 113M | 127M | 33M | 401M | 518M | -143M | -122M | 212M | 237M | 663M |
| Owner Earnings | 22M | 43M | 68M | 92M | 111M | 152M | 437M | 557M | 262M | 301M | 464M | 428M | 616M |
| CapEx | 2.3M | 5.0M | 7.0M | 6.8M | 10M | 158M | 66M | 63M | 433M | 450M | 277M | 214M | 13M |
| Maint. CapEx | 3.5M | 6.2M | 10M | 18M | 15M | 26M | 20M | 18M | 18M | 16M | 14M | 13M | 48M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 132M | 46M | 45M | 415M | 434M | 262M | 201M | 0 |
| D&A | 3.5M | 6.2M | 10M | 18M | 15M | 26M | 20M | 18M | 18M | 16M | 14M | 13M | 48M |
| CapEx/OCF | 9.0% | 10.3% | 8.9% | 5.7% | 7.5% | 82.9% | 14.1% | 10.9% | 149.3% | 137.1% | 56.6% | 47.5% | 1.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 3.2M | 3.5M | 4.4M | 4.8M | 5.7M | 7.8M | 7.1M | 6.4M | 5.9M | 5.4M | 5.1M | 4.7M | 4.5M |
| Dividend Yield | 1.1% | 1.0% | 0.8% | 0.5% | 0.1% | 0.8% | 0.8% | 0.5% | 0.4% | 0.4% | 0.4% | 0.3% | 0.2% |
| Share Buybacks | 0 | 0 | 0 | 0 | 1.7M | 3.4M | 3.2M | 2.9M | 4.0M | 2.5M | 6.1M | 4.6M | 3.5M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.2% |
| Stock-Based Comp | 88K | 258K | 486K | 10M | 11M | 13M | 10M | 6.9M | 10M | 11M | 10M | 9.5M | 11M |
| Debt Repayment | 0 | 0 | 0 | 0 | 258K | 0 | 0 | 0 | 75M | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -41M | -145M | -364M | -1.4B | 109M | -1.6B | -1.1B | -334M | -582M | 629M | -69M | -98M |
| Cash & Equiv. | 30M | 28M | 774M | 1.3B | 100M | 127M | 427M | 1.2B | 369M | 672M | 158M | 121M | 158M |
| Long-Term Debt | N/A | 19M | 92M | 86M | 89M | 216M | 98M | 92M | 35M | 34M | 33M | 33M | 34M |
| Debt/Equity | 10.75 | 2.08 | 3.55 | 3.43 | 0.69 | 1.80 | 0.12 | 0.11 | 0.05 | 0.13 | 0.96 | 0.06 | 0.07 |
| 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 | 175M | 271M | 335M | 434M | 744M | 840M | 844M | 819M | 647M | 705M | 822M | 858M | 851M |
| Total Assets | 2.1B | 2.5B | 4.0B | 5.2B | 5.8B | 6.2B | 6.1B | 7.6B | 6.6B | 7.9B | 7.5B | 7.2B | 7.1B |
| Total Liabilities | 1.9B | 2.3B | 3.7B | 4.8B | 5.1B | 5.3B | 5.2B | 6.8B | 6.0B | 7.2B | 6.7B | 6.3B | 6.3B |
| Intangibles | 2.6M | 34M | 29M | 52M | 71M | 53M | 42M | 0 | 0 | 0 | 17M | 13M | 11M |
| Retained Earnings | 84M | 98M | 127M | 167M | 213M | 253M | 235M | 212M | 235M | 268M | 337M | 360M | 341M |
| 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 | 0.63 | 0.67 | 0.90 | 1.16 | 0.42 | 2.49 | 2.94 | 4.38 | 5.09 | 5.24 | 7.20 | 7.87 | 8.28 |
| Owner EPS | 0.89 | 1.57 | 1.84 | 2.37 | 0.90 | 3.99 | 12.55 | 17.54 | 8.98 | 11.17 | 18.41 | 18.19 | 27.91 |
| Book Value | 7.04 | 9.99 | 9.11 | 11.24 | 6.02 | 22.10 | 24.25 | 25.81 | 22.17 | 26.17 | 32.62 | 36.47 | 38.59 |
| Cash Flow/Share | 1.04 | 1.81 | 2.14 | 3.10 | 1.11 | 5.03 | 13.43 | 18.33 | 9.93 | 12.18 | 19.39 | 19.15 | 10.73 |
| Dividends/Share | 0.13 | 0.13 | 0.12 | 0.13 | 0.05 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| Shares Out. | 24.8M | 27.2M | 36.8M | 38.7M | 123.6M | 38.0M | 34.8M | 31.7M | 29.2M | 26.9M | 25.2M | 23.5M | 22.1M |
| Valuation | |||||||||||||
| P/E Ratio | 13.0 | 14.9 | 14.8 | 15.7 | 15.9 | 12.7 | 6.5 | 11.6 | 6.5 | 8.7 | 9.0 | 9.7 | 10.4 |
| P/FCF | 11.6 | 8.1 | 9.9 | 8.6 | 25.8 | 36.7 | 1.7 | 3.1 | N/A | N/A | 7.7 | 7.6 | 2.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | 248.9 | N/A | 42.2 | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 1.2 | 1.0 | 1.5 | 1.6 | 1.1 | 1.5 | 0.8 | 1.9 | 1.5 | 1.8 | 2.0 | 2.1 | 2.2 |
| Price/Sales | 2.3 | 2.1 | 2.2 | 2.9 | 3.1 | 2.0 | 1.8 | 2.5 | 2.3 | 1.7 | 1.7 | 2.2 | 2.3 |
| FCF Yield | 11.5% | 16.4% | 14.5% | 16.1% | 15.5% | 2.7% | 58.6% | 31.5% | -14.7% | -9.8% | 12.8% | 13.2% | 35.0% |
| Market Cap | 204M | 270M | 493M | 704M | 821M | 1.2B | 684M | 1.6B | 976M | 1.2B | 1.7B | 1.8B | 1.9B |
| Avg. Price | 12.03 | 12.37 | 15.13 | 27.14 | 31.46 | 24.44 | 25.16 | 42.36 | 48.06 | 45.28 | 53.99 | 76.57 | 85.90 |
| Year-End Price | 10.94 | 13.24 | 19.33 | 25.22 | 26.56 | 31.53 | 19.22 | 50.80 | 32.88 | 45.42 | 64.99 | 75.99 | 85.90 |
PATHWARD FINANCIAL, INC. passes 6 of 9 quality checks, suggesting mixed fundamentals.
PATHWARD FINANCIAL, INC. trades at 10.5x trailing earnings, compared to its 15-year median P/E of 10.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 3.0x vs a median of 8.2x. The company's 5-year average ROIC is 19.5% with a gross margin of 90.5%. Total shareholder yield (dividends + buybacks) is 0.4%. At current prices, the estimated annualized return to fair value is +23.1%.
PATHWARD FINANCIAL, INC. (CASH) reported annual revenue of $851 million in its most recent fiscal year, based on SEC EDGAR filings.
PATHWARD FINANCIAL, INC. (CASH) has a net profit margin of 21.7%. This is a strong margin indicating high profitability.
PATHWARD FINANCIAL, INC. (CASH) generated $237 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PATHWARD FINANCIAL, INC. (CASH) has a debt-to-equity ratio of 0.06. This indicates a conservatively financed balance sheet.
PATHWARD FINANCIAL, INC. (CASH) reported earnings per share (EPS) of $7.87 in its most recent fiscal year.
PATHWARD FINANCIAL, INC. (CASH) has a return on equity (ROE) of 22.0%. This indicates the company generates strong returns for shareholders.
PATHWARD FINANCIAL, INC. (CASH) has a 5-year average gross margin of 90.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for PATHWARD FINANCIAL, INC. (CASH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PATHWARD FINANCIAL, INC. (CASH) has a book value per share of $36.47, based on its most recent annual SEC filing.