A Business at a Glance
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We are FinWise Bancorp, a Utah bank holding company headquartered in Murray, Utah. We operate through our wholly-owned subsidiary, FinWise Bank, a Utah state-chartered bank. We currently operate one full-service banking location in Sandy, Utah. We are a nationwide lender to consumers and small businesses. We believe that traditional barriers to servicing banking customers have been substantially lowered due to technological advances in the distribution and management of banking products and services. We seek to capitalize on these advances by leveraging strategic relationships, as well as proprietary loan origination systems and data analytics technology, to expand our reach in marketing channels utilized and credit products offered. As a technology-focused bank, we have utilized technology-oriented loan origination platforms in our Strategic Programs, SBA lending, Residential & Owner Occupied Commercial Real Estate, and Equipment Financing business lines.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 105M | 81M | 76M | 88M | 80M |
| Net Income | 15M | 13M | 17M | 25M | 32M |
| EPS | $1.05 | $0.93 | $1.33 | $1.87 | $3.27 |
| Free Cash Flow | -36M | -20M | 4.8M | 54M | -12M |
| ROIC | 8.0% | 7.3% | 11.3% | 65.5% | 28.2% |
| Gross Margin | - | - | - | - | - |
| Debt/Equity | 0.00 | 3.29 | 2.78 | 1.85 | 2.29 |
| Dividends/Share | $0.00 | - | - | - | - |
| Operating Income | 3.3M | 2.1M | 2.6M | 37M | 44M |
| Operating Margin | 3.2% | 2.5% | 3.4% | 42.4% | 54.5% |
| ROE | 8.0% | 7.8% | 11.3% | 17.9% | 27.4% |
| Shares Outstanding | 14M | 14M | 13M | 13M | 10M |
| Metric | 2021 | 2022 | |||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 80M | 88M | 76M | 81M | 105M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 44M | 37M | 2.6M | 2.1M | 3.3M |
| Op. Margin | 54.5% | 42.4% | 3.4% | 2.5% | 3.2% |
| Net Income | 32M | 25M | 17M | 13M | 15M |
| Net Margin | 39.6% | 28.4% | 23.0% | 15.7% | 14.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | 28.2% | 65.5% | 11.3% | 7.3% | 8.0% |
| ROE | 27.4% | 17.9% | 11.3% | 7.8% | 8.0% |
| ROA | 8.3% | 6.3% | 3.0% | 1.9% | 89.5% |
| Cash Flow | |||||
| Op. Cash Flow | -9.2M | 61M | 12M | -15M | -36M |
| Free Cash Flow | -12M | 54M | 4.8M | -20M | -36M |
| Owner Earnings | -12M | 58M | 6.4M | -22M | -43M |
| CapEx | 2.3M | 7.2M | 7.5M | 4.9M | 278K |
| Maint. CapEx | 1.0M | 2.1M | 3.8M | 5.3M | 5.3M |
| Growth CapEx | 1.3M | 5.1M | 3.6M | 0 | 0 |
| D&A | 1.0M | 2.1M | 3.8M | 5.3M | 5.3M |
| CapEx/OCF | N/A | 11.8% | 60.8% | N/A | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 1.1M | 4.7M | 461K | 461K |
| Buyback Yield | N/A | 0.9% | 2.6% | 0.2% | 0.2% |
| Stock-Based Comp | 2.1M | 778K | 2.0M | 2.0M | 2.0M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | N/A | N/A | N/A | N/A | -106M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | 106M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 2.29 | 1.85 | 2.78 | 3.29 | 0.00 |
| Interest Coverage | 34.4 | 26.1 | 0.3 | 0.1 | 0.1 |
| Equity | 115M | 140M | 155M | 174M | 188M |
| Total Assets | 380M | 401M | 586M | 746M | 17M |
| Total Liabilities | 265M | 260M | 431M | 572M | 131M |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 61M | 86M | 104M | 117M | 117M |
| Working Capital | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||
| EPS | 3.27 | 1.87 | 1.33 | 0.93 | 1.05 |
| Owner EPS | -1.28 | 4.34 | 0.49 | -1.63 | -3.18 |
| Book Value | 11.95 | 10.46 | 11.81 | 12.68 | 13.82 |
| Cash Flow/Share | -0.96 | 4.55 | 0.93 | -1.09 | 1.49 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 9.7M | 13.4M | 13.1M | 13.7M | 13.6M |
| Valuation | |||||
| P/E Ratio | 4.1 | 4.9 | 10.3 | 17.3 | 15.5 |
| P/FCF | N/A | 2.3 | 37.4 | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | 34.6 |
| Price/Book | 1.1 | 0.9 | 1.2 | 1.3 | 1.2 |
| Price/Sales | 1.6 | 2.0 | 1.6 | 2.2 | 2.1 |
| FCF Yield | -8.9% | 44.0% | 2.7% | -9.0% | -16.3% |
| Market Cap | 130M | 123M | 180M | 221M | 221M |
| Avg. Price | 13.18 | 12.84 | 9.39 | 12.89 | 16.29 |
| Year-End Price | 13.50 | 9.13 | 13.69 | 16.11 | 16.29 |
Finwise Bancorp passes 3 of 9 quality checks, indicating weak fundamentals.
Finwise Bancorp trades at 15.5x trailing earnings, compared to its 15-year median P/E of 7.6x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 28.1%. Total shareholder yield (buybacks) is 0.2%. At current prices, the estimated annualized return to fair value is -17.2%.
Finwise Bancorp (FINW) has a current P/E ratio of 15.5, compared to its historical median P/E of 7.6. The stock is currently considered Expensive based on its historical valuation range.
Finwise Bancorp (FINW) has a 5-year average return on invested capital (ROIC) of 28.1%. This indicates strong capital allocation and a potential competitive advantage.
Finwise Bancorp (FINW) has a market capitalization of $221M. It is classified as a small-cap stock.
Finwise Bancorp (FINW) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.21%.
Based on historical P/E analysis, Finwise Bancorp (FINW) appears expensive. The current P/E of 15.5 is 104% above its historical median of 7.6. The estimated fair value CAGR (P/E method) is -22.2%.
Finwise Bancorp (FINW) operates in the State Commercial Banks industry, within the Financials sector.
Finwise Bancorp (FINW) reported annual revenue of $81 million in its most recent fiscal year, based on SEC EDGAR filings.
Finwise Bancorp (FINW) has a net profit margin of 15.7%. This is a healthy margin.
Finwise Bancorp (FINW) generated $-20 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Finwise Bancorp (FINW) has a debt-to-equity ratio of 3.29. This indicates higher leverage, which may increase financial risk.
Finwise Bancorp (FINW) reported earnings per share (EPS) of $0.93 in its most recent fiscal year.
Finwise Bancorp (FINW) has a return on equity (ROE) of 7.8%. This indicates moderate shareholder returns.
The Ledger Terminal provides 4 years of financial data for Finwise Bancorp (FINW), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Finwise Bancorp (FINW) has a book value per share of $12.68, based on its most recent annual SEC filing.