A Business at a Glance
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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 and during the entirety of the 2022 fiscal year, 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.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 287M | 258M | 203M | 105M |
| Net Income | 59M | 49M | 46M | 32M |
| EPS | $2.24 | $1.96 | $1.88 | $1.34 |
| Free Cash Flow | -520M | -153M | -170M | -62M |
| ROIC | 0.0% | 10.6% | 8.8% | 6.9% |
| Gross Margin | - | - | - | - |
| Debt/Equity | 1.94 | 2.39 | 2.59 | 1.44 |
| Dividends/Share | $0.74 | $0.81 | $0.58 | $2.68 |
| Operating Income | 0 | 96M | 60M | 65M |
| Operating Margin | 0.0% | 37.2% | 29.4% | 61.9% |
| ROE | 15.3% | 18.1% | 18.4% | 8.6% |
| Shares Outstanding | 29M | 25M | 24M | 24M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 105M | 203M | 258M | 287M |
| Gross Margin | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | 65M | 60M | 96M | 0 |
| Op. Margin | 61.9% | 29.4% | 37.2% | 0.0% |
| Net Income | 32M | 46M | 49M | 59M |
| Net Margin | 30.7% | 22.6% | 19.1% | 20.7% |
| Non-Recurring | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | 6.9% | 8.8% | 10.6% | 0.0% |
| ROE | 8.6% | 18.4% | 18.1% | 15.3% |
| ROA | 3.2% | 3.2% | 2.8% | 68.4% |
| Cash Flow | ||||
| Op. Cash Flow | -62M | -169M | -153M | -519M |
| Free Cash Flow | -62M | -170M | -153M | -520M |
| Owner Earnings | -63M | -175M | -159M | -525M |
| CapEx | 11K | 458K | 439K | 160K |
| Maint. CapEx | 239K | 2.9M | 1.8M | 1.8M |
| Growth CapEx | 0 | 0 | 0 | 0 |
| D&A | 239K | 2.9M | 1.8M | 1.8M |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 65M | 14M | 20M | 21M |
| Dividend Yield | 15.8% | 4.5% | 7.1% | 5.9% |
| Share Buybacks | 0 | 0 | 402K | 402K |
| Buyback Yield | N/A | N/A | 0.1% | 0.1% |
| Stock-Based Comp | 0 | 2.8M | 4.1M | 4.1M |
| Debt Repayment | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||
| Net Debt | 414M | 460M | 327M | 532M |
| Cash & Equiv. | N/A | N/A | N/A | 217M |
| Long-Term Debt | 539M | 644M | 708M | 708M |
| Debt/Equity | 1.44 | 2.59 | 2.39 | 1.94 |
| Interest Coverage | 2.5 | 3.8 | 3.3 | 3.3 |
| Equity | 375M | 249M | 296M | 387M |
| Total Assets | 999M | 1.4B | 2.1B | 87M |
| Total Liabilities | 624M | 1.2B | 1.8B | 22M |
| Intangibles | 0 | 60M | 30M | 30M |
| Retained Earnings | 21M | 28M | 58M | 58M |
| Working Capital | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A |
| Per Share Data | ||||
| EPS | 1.34 | 1.88 | 1.96 | 2.24 |
| Owner EPS | -2.60 | -7.17 | -6.32 | -18.18 |
| Book Value | 15.57 | 10.21 | 11.79 | 13.39 |
| Cash Flow/Share | -2.59 | -6.93 | -6.09 | 2.11 |
| Dividends/Share | 2.68 | 0.58 | 0.81 | 0.74 |
| Shares Out. | 24.1M | 24.4M | 25.1M | 28.9M |
| Valuation | ||||
| P/E Ratio | 10.1 | 6.6 | 6.1 | 5.6 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | 11.4 | 12.8 | 6.6 | N/A |
| Price/Book | 0.9 | 1.2 | 1.0 | 0.9 |
| Price/Sales | 3.9 | 1.6 | 1.1 | 1.3 |
| FCF Yield | -19.1% | -56.0% | -51.0% | -143.2% |
| Market Cap | 327M | 303M | 301M | 363M |
| Avg. Price | 16.92 | 12.95 | 11.34 | 12.56 |
| Year-End Price | 13.55 | 12.41 | 11.98 | 12.56 |
NewtekOne, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
NewtekOne, Inc. trades at 5.6x trailing earnings, compared to its 15-year median P/E of 6.6x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 8.7%. Total shareholder yield (dividends + buybacks) is 6.0%. At current prices, the estimated annualized return to fair value is +11.5%.
NewtekOne, Inc. (NEWT) has a current P/E ratio of 5.6, compared to its historical median P/E of 6.6. The stock is currently considered Fair based on its historical valuation range.
NewtekOne, Inc. (NEWT) has a 5-year average return on invested capital (ROIC) of 8.7%. This is below average and may indicate limited pricing power.
NewtekOne, Inc. (NEWT) has a market capitalization of $363M. It is classified as a small-cap stock.
Yes, NewtekOne, Inc. (NEWT) pays a dividend with a trailing twelve-month yield of 5.90%. The company also returns capital through share buybacks, with a buyback yield of 0.11%.
Based on historical P/E analysis, NewtekOne, Inc. (NEWT) appears fair. The current P/E of 5.6 is 15% below its historical median of 6.6. The estimated fair value CAGR (P/E method) is 11.5%.
NewtekOne, Inc. (NEWT) operates in the National Commercial Banks industry, within the Financials sector.
NewtekOne, Inc. (NEWT) reported annual revenue of $258 million in its most recent fiscal year, based on SEC EDGAR filings.
NewtekOne, Inc. (NEWT) has a net profit margin of 19.1%. This is a healthy margin.
NewtekOne, Inc. (NEWT) generated $-153 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
NewtekOne, Inc. (NEWT) has a debt-to-equity ratio of 2.39. This indicates higher leverage, which may increase financial risk.
NewtekOne, Inc. (NEWT) reported earnings per share (EPS) of $1.96 in its most recent fiscal year.
NewtekOne, Inc. (NEWT) has a return on equity (ROE) of 18.1%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 3 years of financial data for NewtekOne, Inc. (NEWT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NewtekOne, Inc. (NEWT) has a book value per share of $11.79, based on its most recent annual SEC filing.