What is Pathward Financial's earnings per share (EPS)?

Pathward Financial (CASH) reported diluted earnings per share of $7.87 for fiscal year 2025. This represents a 9.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Pathward Financial Financials

CASH

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE September

This page shows Pathward Financial (CASH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CASH FY2025 2026-05-07

Pathward’s high cash conversion rides on a liability-funded balance sheet, with profits rising even as assets shrank and leverage stayed modest in FY2025.

From FY2023 to FY2025, net income rose from $143.3M to $185.9M while total assets fell from $7.5B to $7.2B, lifting ROA from 1.9% to 2.6%. That pattern means recent improvement came from earning more on each balance-sheet dollar, not from simply expanding the funding base.

In FY2025, operating cash flow was $450.6M against net income of $185.9M. Capital spending was only $11.7M, so most operating cash survived into free cash flow at $438.9M; cash generation is constrained far more by funding flows than by physical reinvestment.

The balance sheet is not debt-heavy in the usual sense: long-term debt was just $33.5M and debt-to-equity only 3.9% in FY2025. But liabilities still totaled $6.3B against equity of $858M, so the company depends on liabilities other than long-term borrowings to fund most of its assets; the year-end cash line is less informative than the full funding structure.

Financial Health Signals

Financial Profile 51/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Pathward Financial's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Pathward Financial's revenue grew 5.3% year-over-year to $839.9M, a solid pace of expansion. This earns a growth score of 46/100.

Leverage

100

Pathward Financial carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

Pathward Financial converts 52.3% of revenue into free cash flow ($438.9M). This strong cash generation earns a score of 100/100.

Returns

Pathward Financial's ROE of 21.7% shows moderate profitability relative to equity, earning a score of 60/100. This is down from 22.3% the prior year.

Piotroski F-Score Neutral

5/9

Pathward Financial passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.42x

For every $1 of reported earnings, Pathward Financial generates $2.42 in operating cash flow ($450.6M OCF vs $185.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$839.9M

YoY+5.3%

5Y CAGR+11.0%

10Y CAGR+29.9%

Pathward Financial generated $839.9M in revenue in fiscal year 2025. This represents an increase of 5.3% from the prior year.

EBITDA

N/A

Net Income

$185.9M

YoY+1.4%

5Y CAGR+12.2%

10Y CAGR+26.3%

Pathward Financial reported $185.9M in net income in fiscal year 2025. This represents an increase of 1.4% from the prior year.

EPS (Diluted)

$7.87

YoY+9.3%

5Y CAGR+21.8%

Pathward Financial earned $7.87 per diluted share (EPS) in fiscal year 2025. This represents an increase of 9.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$438.9M

YoY-8.3%

5Y CAGR-0.7%

10Y CAGR+25.8%

Pathward Financial generated $438.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 8.3% from the prior year.

Cash & Debt

$120.6M

YoY-23.9%

5Y CAGR-22.4%

10Y CAGR+15.9%

Pathward Financial held $120.6M in cash against $33.5M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.20

YoY+0.0%

5Y CAGR+0.0%

Pathward Financial paid $0.20 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

23M

5Y CAGR-7.9%

Pathward Financial had 23M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

22.1%

YoY-0.9pp

5Y CAGR+1.1pp

10Y CAGR-7.2pp

Pathward Financial's net profit margin was 22.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.9 percentage points from the prior year.

Return on Equity

21.7%

YoY-0.6pp

5Y CAGR+9.2pp

10Y CAGR+15.0pp

Pathward Financial's ROE was 21.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$11.7M

YoY+15.2%

5Y CAGR-1.0%

10Y CAGR+8.8%

Pathward Financial invested $11.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 15.2% from the prior year.

CASH Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$839.9M+5.3%	$797.4M+9.6%	$727.7M+21.1%	$601.1M+9.3%	$549.9M+10.2%	$498.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$0	$0	$0-100.0%	$171.1M+13.3%	$151.1M+10.9%	$136.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$11.6M-45.4%	$21.2M+95.3%	$10.9M+123.2%	$4.9M-29.0%	$6.9M-79.7%	$33.8M
Income Tax	$36.3M+6.3%	$34.1M+255.8%	$9.6M-63.4%	$26.2M+144.8%	$10.7M+89.0%	$5.7M
Net Income	$185.9M+1.4%	$183.2M+27.9%	$143.3M-5.2%	$151.1M+6.7%	$141.7M+35.3%	$104.7M
EPS (Diluted)	$7.87+9.3%	$7.20+37.4%	$5.24+2.9%	$5.09+16.2%	$4.38+49.0%	$2.94

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$276.3M+59.6%	$173.1M+33.7%	$129.4M-33.9%	$195.8M-28.8%	$274.8M+50.5%	$182.6M+39.0%	$131.3M-30.4%	$188.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$0	$0	N/A	$48.6M	$0	$0-100.0%	$52.3M+7.9%	$48.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$5.8M+205.3%	$1.9M+26.6%	$1.5M+16.3%	$1.3M-77.7%	$5.7M+84.3%	$3.1M-18.9%	$3.8M+24.2%	$3.1M
Income Tax	$14.2M+97.0%	$7.2M	N/A	$4.8M-70.3%	$16.2M+169.2%	$6.0M+77.6%	$3.4M-44.6%	$6.1M
Net Income	$72.9M+107.3%	$35.2M-9.4%	$38.8M-7.9%	$42.1M-43.8%	$75.0M+150.1%	$30.0M-10.6%	$33.5M-25.3%	$44.9M
EPS (Diluted)	$3.35+113.4%	$1.57-7.1%	$1.69-6.6%	$1.81-42.4%	$3.14+155.3%	$1.23-8.2%	$1.34-24.7%	$1.78

CASH Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$7.2B-4.8%	$7.5B+0.4%	$7.5B+11.4%	$6.7B+0.7%	$6.7B+9.8%	$6.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$120.6M-23.9%	$158.3M-57.8%	$375.6M-3.2%	$388.0M+23.6%	$314.0M-26.5%	$427.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$297.9M-3.7%	$309.5M0.0%	$309.5M0.0%	$309.5M0.0%	$309.5M0.0%	$309.5M
Total Liabilities	$6.3B-5.9%	$6.7B-2.5%	$6.9B+12.8%	$6.1B+4.9%	$5.8B+10.9%	$5.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$33.5M+0.3%	$33.4M-1.5%	$33.9M-6.0%	$36.0M-61.2%	$92.8M-5.5%	$98.2M
Total Equity	$858.0M+4.3%	$822.5M+32.8%	$619.4M-2.2%	$633.2M-27.3%	$870.7M+3.2%	$843.7M
Retained Earnings	$359.8M+6.8%	$337.1M+36.8%	$246.4M+5.5%	$233.5M-9.9%	$259.2M+10.3%	$234.9M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$7.1B-5.9%	$7.6B+5.4%	$7.2B-0.8%	$7.2B+3.4%	$7.0B-8.0%	$7.6B+0.9%	$7.5B+0.3%	$7.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$157.6M-52.4%	$331.2M+174.7%	$120.6M-53.3%	$258.3M+1.6%	$254.2M-57.4%	$597.4M+277.3%	$158.3M-47.0%	$298.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$297.9M0.0%	$297.9M0.0%	$297.9M0.0%	$297.9M0.0%	$297.9M0.0%	$297.9M-3.7%	$309.5M0.0%	$309.5M
Total Liabilities	$6.3B-6.6%	$6.7B+6.2%	$6.3B-1.5%	$6.4B+3.7%	$6.2B-9.7%	$6.8B+2.0%	$6.7B-0.8%	$6.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$33.5M+0.1%	$33.5M+0.1%	$33.5M+0.1%	$33.4M+0.1%	$33.4M+0.1%	$33.4M+0.1%	$33.4M+0.1%	$33.3M
Total Equity	$851.5M-0.4%	$854.5M-0.4%	$858.0M+4.8%	$819.0M+0.5%	$814.7M+7.4%	$758.3M-7.8%	$822.5M+9.9%	$748.4M
Retained Earnings	$340.7M-1.7%	$346.5M-3.7%	$359.8M+6.7%	$337.3M-1.3%	$341.8M+9.0%	$313.4M-7.0%	$337.1M+3.4%	$326.0M

CASH Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$450.6M-7.8%	$488.8M+49.1%	$327.9M+13.1%	$290.0M-50.1%	$581.6M+24.5%	$467.2M
Capital Expenditures	$11.7M+15.2%	$10.1M+17.6%	$8.6M+5.5%	$8.2M-36.9%	$13.0M+5.7%	$12.3M
Free Cash Flow	$438.9M-8.3%	$478.7M+49.9%	$319.3M+13.3%	$281.9M-50.4%	$568.7M+25.0%	$455.0M
Investing Cash Flow	$25.8M+109.8%	-$262.9M+72.2%	-$945.6M-184.7%	-$332.1M+70.3%	-$1.1B-442.1%	-$206.3M
Financing Cash Flow	-$513.0M-15.8%	-$443.2M-173.3%	$604.9M+413.4%	$117.8M-72.1%	$422.9M+956.8%	$40.0M
Dividends Paid	$4.7M-7.5%	$5.1M-6.6%	$5.4M-8.4%	$5.9M-7.5%	$6.4M-9.9%	$7.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$232.9M+115.1%	$108.3M-64.3%	$303.7M+900.1%	$30.4M-83.9%	$188.3M+362.5%	-$71.7M-150.1%	$143.1M+26.5%	$113.2M
Capital Expenditures	$2.3M-45.6%	$4.2M+26.9%	$3.3M+25.0%	$2.7M-25.4%	$3.6M+71.6%	$2.1M-52.1%	$4.4M+98.8%	$2.2M
Free Cash Flow	$230.6M+121.6%	$104.1M-65.3%	$300.3M+984.6%	$27.7M-85.0%	$184.7M+350.3%	-$73.8M-153.2%	$138.8M+25.0%	$111.0M
Investing Cash Flow	$141.2M+147.0%	-$300.4M-50.5%	-$199.6M+29.3%	-$282.4M-231.3%	$215.1M-26.5%	$292.8M+433.9%	-$87.7M+50.5%	-$177.2M
Financing Cash Flow	-$546.6M-236.0%	$401.9M+267.1%	-$240.6M-194.7%	$254.0M+134.0%	-$746.5M-439.2%	$220.1M+212.1%	-$196.4M-1375.4%	$15.4M
Dividends Paid	$1.1M-1.4%	$1.1M-3.1%	$1.1M-0.5%	$1.1M-3.4%	$1.2M-1.0%	$1.2M-3.3%	$1.2M-1.2%	$1.3M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CASH Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	22.1%-0.9pp	23.0%+3.3pp	19.7%-5.5pp	25.1%-0.6pp	25.8%+4.8pp	21.0%
Return on Equity	21.7%-0.6pp	22.3%-0.9pp	23.1%-0.7pp	23.9%+7.6pp	16.3%+3.9pp	12.4%
Return on Assets	2.6%+0.2pp	2.4%+0.5pp	1.9%-0.3pp	2.2%+0.1pp	2.1%+0.4pp	1.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.040.0	0.04-0.0	0.050.0	0.06-0.0	0.110.0	0.12
FCF Margin	52.3%-7.8pp	60.0%+16.1pp	43.9%-3.0pp	46.9%-56.5pp	103.4%+12.2pp	91.2%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	26.4%+6.1pp	20.3%-9.7pp	30.0%+8.5pp	21.5%-5.8pp	27.3%+10.9pp	16.4%-9.1pp	25.5%+1.7pp	23.8%
Return on Equity	8.6%+4.4pp	4.1%-0.4pp	4.5%-0.6pp	5.1%-4.0pp	9.2%+5.3pp	4.0%-0.1pp	4.1%-1.9pp	6.0%
Return on Assets	1.0%+0.6pp	0.5%-0.1pp	0.5%-0.0pp	0.6%-0.5pp	1.1%+0.7pp	0.4%-0.1pp	0.4%-0.2pp	0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.040.0	0.040.0	0.040.0	0.040.0	0.040.0	0.040.0	0.040.0	0.04
FCF Margin	83.5%+23.4pp	60.1%-171.9pp	232.0%+217.9pp	14.1%-53.1pp	67.2%+107.7pp	-40.4%-146.1pp	105.7%+46.8pp	58.8%

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Frequently Asked Questions

What is Pathward Financial's annual revenue?

Pathward Financial (CASH) reported $839.9M in total revenue for fiscal year 2025. This represents a 5.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pathward Financial's revenue growing?

Pathward Financial (CASH) revenue grew by 5.3% year-over-year, from $797.4M to $839.9M in fiscal year 2025.

Is Pathward Financial profitable?

Yes, Pathward Financial (CASH) reported a net income of $185.9M in fiscal year 2025, with a net profit margin of 22.1%.

How much debt does Pathward Financial have?

As of fiscal year 2025, Pathward Financial (CASH) had $120.6M in cash and equivalents against $33.5M in long-term debt.

What is Pathward Financial's net profit margin?

Pathward Financial (CASH) had a net profit margin of 22.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Pathward Financial pay dividends?

Yes, Pathward Financial (CASH) paid $0.20 per share in dividends during fiscal year 2025.

What is Pathward Financial's return on equity (ROE)?

Pathward Financial (CASH) has a return on equity of 21.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pathward Financial's free cash flow?

Pathward Financial (CASH) generated $438.9M in free cash flow during fiscal year 2025. This represents a -8.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pathward Financial's operating cash flow?

Pathward Financial (CASH) generated $450.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pathward Financial's total assets?

Pathward Financial (CASH) had $7.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pathward Financial's capital expenditures?

Pathward Financial (CASH) invested $11.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Pathward Financial have outstanding?

Pathward Financial (CASH) had 23M shares outstanding as of fiscal year 2025.

What is Pathward Financial's debt-to-equity ratio?

Pathward Financial (CASH) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pathward Financial's return on assets (ROA)?

Pathward Financial (CASH) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pathward Financial's Piotroski F-Score?

Pathward Financial (CASH) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pathward Financial's earnings high quality?

Pathward Financial (CASH) has an earnings quality ratio of 2.42x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Pathward Financial?

Pathward Financial (CASH) scores 51 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.