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Pathward Financial, Inc. operates as the bank holding company for Pathward, National Association that provides various banking products and services in the United States. It operates through three segments: Consumer, Commercial, and Corporate Services/Other. The company offers demand deposit accounts, savings accounts, and money market savings accounts. It also provides commercial finance product comprising term lending, asset-based lending, factoring, lease financing, insurance premium finance, government guaranteed lending, and other commercial finance products; installment and revolving consumer lending products; tax services, which includes short-term refund advance loans and short-term electronic return originator advance loans; and warehouse financing services. In addition, the company offers payment solutions, such as acceptance, processing, and settlement of credit card and debit card payments, financial processing services for freestanding ATMs; digital payments; and merchant services, as well as issues debit and prepaid cards. The company was formerly known as Meta Financial Group, Inc. and changed its name to Pathward Financial, Inc. in July 2022. Pathward Financial, Inc. was founded in 1954 and is based in Sioux Falls, South Dakota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $674M | - | $186M | $237M | 21.7% | 4.0% | 1.4% |
| 2024 | $648M | - | $183M | $212M | 22.3% | 7.8% | 27.9% |
| 2023 | $601M | - | $143M | $-122M | 23.1% | 15.8% | -5.2% |
| 2022 | $519M | - | $151M | $-149M | 23.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 518.52 | 600.59 | 647.67 | 673.63 |
| Operating Revenue | - | 518.52 | 600.59 | 647.67 | 673.63 |
| Selling General And Administration | - | 171.13 | 184.32 | 201.47 | 200.50 |
| Interest Income | - | 329.44 | 421.95 | 519.06 | 523.39 |
| Interest Expense | - | 4.87 | 10.87 | 21.23 | 11.60 |
| Net Interest Income | - | 324.57 | 411.08 | 497.82 | 511.79 |
| Pretax Income | - | 180.30 | 155.04 | 218.62 | 223.05 |
| Tax Provision | - | 26.20 | 9.59 | 34.11 | 36.27 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 6.25 | 0.56 | 0.58 | 2.33 |
| Net Income Continuous Operations | - | 154.10 | 145.46 | 184.51 | 186.79 |
| Net Income From Continuing And Discontinued Operation | - | 151.13 | 143.27 | 183.22 | 185.87 |
| Net Income From Continuing Operation Net Minority Interest | - | 151.13 | 143.27 | 183.22 | 185.87 |
| Net Income | - | 151.13 | 143.27 | 183.22 | 185.87 |
| Net Income Common Stockholders | - | 148.66 | 141.12 | 181.54 | 185.18 |
| Net Income Including Noncontrolling Interests | - | 154.10 | 145.46 | 184.51 | 186.79 |
| Normalized Income | - | 114.26 | 134.84 | 180.06 | 173.92 |
| Diluted NI Availto Com Stockholders | - | 148.66 | 141.12 | 181.54 | 185.18 |
| Basic Average Shares | - | 29.23 | 26.83 | 25.17 | 23.40 |
| Diluted Average Shares | - | 29.23 | 26.93 | 25.20 | 23.52 |
| Reconciled Depreciation | - | 61.60 | 64.96 | 57.76 | 59.72 |
| Total Unusual Items | - | 43.12 | 8.98 | 3.74 | 14.28 |
| Total Unusual Items Excluding Goodwill | - | 43.12 | 8.98 | 3.74 | 14.28 |
| Minority Interests | - | -2.97 | -2.19 | -1.29 | -0.92 |
| Special Income Charges | - | 49.33 | 6.73 | -3.01 | 9.13 |
| Gain On Sale Of Business | - | 0 | 0 | 0 | 15.04 |
| Other Special Charges | - | -50 | -10 | - | - |
| Write Off | - | 0.67 | 3.27 | 3.01 | 5.92 |
| Gain On Sale Of Security | - | -1.29 | 0.41 | 5.92 | 11.94 |
| Depreciation Amortization Depletion Income Statement | - | 42.22 | 50.68 | 45.89 | 49.09 |
| Depreciation And Amortization In Income Statement | - | 42.22 | 50.68 | 45.89 | 49.09 |
| General And Administrative Expense | - | 171.13 | 184.32 | 201.47 | 200.50 |
| Salaries And Wages | - | 171.13 | 184.32 | 201.47 | 200.50 |
| Otherunder Preferred Stock Dividend | - | 2.48 | 2.15 | 1.68 | 0.69 |
| Average Dilution Earnings | - | 0 | 0.01 | 0 | 0 |
| Amortization | - | 6.58 | 4.97 | 4.13 | 3.46 |
| Amortization Of Intangibles Income Statement | - | 6.58 | 4.97 | 4.13 | 3.46 |
| Occupancy And Equipment | - | 34.91 | 34.69 | 36.59 | 42.09 |
| Depreciation Income Statement | - | 35.64 | 45.71 | 41.76 | 45.64 |
| Professional Expense And Contract Services Expense | - | 40.63 | 27.10 | 24.86 | 36.47 |
| Other Non Interest Expense | - | 41.87 | 46.24 | 59.13 | 74.78 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Pathward Financial, Inc.this co. | CASH | $1.7B | 9.01↓ discount | 1.94 | 21.6% | - |
| Triumph Financial, Inc. | TFIN | $1.7B | 66.83 | 1.89 | 2.8% | - |
| Dime Community Bancshares, Inc. | DCOM | $1.7B | 14.97 | 1.22 | 8.1% | - |
| Republic Bancorp, Inc. | RBCAA | $1.7B | 12.58 | 1.50 | 11.9% | - |
| FirstSun Capital Bancorp | FSUN |
| - |
| - |
| - |
| - |
| - |
| $1.6B |
| 16.83 |
| 1.43 |
| 8.5% |
| - |
| German American Bancorp, Inc. | GABC | $1.6B | 14.58 | 1.41 | 9.7% | - |
| S&T Bancorp, Inc. | STBA | $1.6B | 12.15 | 1.11 | 9.2% | - |
| TriCo Bancshares | TCBK | $1.6B | 13.41 | 1.23 | 9.2% | - |
| Hope Bancorp, Inc. | HOPE | $1.6B | 26.13 | 0.70 | 2.7% | - |
| Peer Median | - | 14.77 | 1.32 | 8.8% | - | |