NASDAQ · Financial Statements

Pathward Financial, Inc. (CASH) Financial Statements

$77.50 NASDAQ: CASH Market Cap $1.61B

Pathward Financial, Inc. most recently reported annual revenue of $685.0M, net profit of $186.0M. Revenue grew at an average annual rate of 7.5% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Pathward Financial, Inc.: Revenue rose from $151.0M in 2016 to $685.0M in 2025, a change of +353.6% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 25.7% to 32.5%, a shift of +6.9 percentage points; the most recent year shows net profit of $186.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$151.0M$241.0M$303.0M$514.0M$477.0M$515.0M$523.0M$611.0M$669.0M$685.0M
Operating Expenses$112.0M$186.0M$246.0M$416.0M$362.0M$359.0M$343.0M$456.0M$450.0M$462.0M
Operating Profit$39.0M$55.0M$57.0M$98.0M$115.0M$156.0M$180.0M$155.0M$219.0M$223.0M
Operating Margin25.7%22.9%18.9%19.1%24.1%30.4%34.5%25.4%32.7%32.5%
Other Income$0$0$0$0$0$0$0$0$0$0
Interest$4.0M$15.0M$28.0M$62.0M$34.0M$7.0M$5.0M$11.0M$21.0M$12.0M
Depreciation$0$45.0M$38.0M$55.0M$61.0M$59.0M$62.0M$65.0M$58.0M$60.0M
Profit Before Tax$39.0M$55.0M$57.0M$98.0M$115.0M$156.0M$180.0M$155.0M$219.0M$223.0M
Tax$14.4M$18.6M$8.9M$-3.4M$4.9M$6.8M$14.5M$6.2M$15.6M$16.3M
Net Profit$33.0M$45.0M$52.0M$97.0M$105.0M$142.0M$151.0M$143.0M$183.0M$186.0M
EPS$1.31$1.61$1.67$2.49$2.94$4.38$5.26$5.99$7.20$7.87
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$136.0M$134.0M$222.0M$155.0M$138.0M$136.0M$236.0M$158.0M$155.0M$175.0M$282.0M$191.0M
Operating Expenses$102.0M$100.0M$135.0M$104.0M$100.0M$100.0M$145.0M$111.0M$107.0M$132.0M$195.0M$159.0M
Operating Profit$34.0M$34.0M$87.0M$51.0M$37.0M$36.0M$91.0M$47.0M$48.0M$43.0M$87.0M$32.0M
Operating Margin24.8%25.1%39.3%33.0%27.0%26.6%38.7%29.8%31.1%24.4%30.9%16.9%
Interest$5.0M$6.0M$8.0M$3.0M$4.0M$3.0M$6.0M$1.0M$1.0M$2.0M$6.0M$1.0M
Profit Before Tax$34.0M$34.0M$87.0M$51.0M$37.0M$36.0M$91.0M$47.0M$48.0M$43.0M$87.0M$32.0M
Tax$-7.9M$17.0M$19.4M$11.9M$8.2M$16.6M$17.7M$10.2M$19.2M$16.9M$16.3M$9.5M
Net Profit$36.0M$28.0M$70.0M$45.0M$34.0M$30.0M$75.0M$42.0M$39.0M$35.0M$73.0M$29.0M
EPS$1.36$1.06$2.74$1.78$1.34$1.23$3.14$1.81$1.69$1.57$3.35$1.37

Over the 10 years reported for Pathward Financial, Inc., borrowings decreased from $1.2B in 2016 to $42.0M in 2025, cash stood at $121.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.22 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$4.0B$5.2B$5.8B$6.2B$6.1B$6.7B$6.7B$7.5B$7.5B$7.2B
Current Assets$1.7B$2.4B$1.6B$1.0B$1.3B$2.5B$2.5B$2.4B$2.1B$1.3B
Cash$774.0M$1.3B$100.0M$127.0M$427.0M$314.0M$388.0M$376.0M$158.0M$121.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$17.0M$19.0M$22.0M$20.0M$17.0M$282.0M$229.0M$207.0M$184.0M$188.0M
Fixed Assets$19.0M$19.0M$148.0M$254.0M$248.0M$258.0M$246.0M$251.0M$244.0M$200.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$3.0B$3.6B$5.0B$5.2B$4.8B$5.3B$5.2B$6.1B$6.3B$6.0B
Other Assets$37.0M$99.0M$303.0M$310.0M$310.0M$310.0M$310.0M$310.0M$310.0M$298.0M
Total Liabilities$3.7B$4.8B$5.1B$5.3B$5.2B$5.8B$6.1B$6.9B$6.7B$6.3B
Current Liabilities$3.6B$4.7B$5.0B$5.1B$5.1B$5.7B$6.1B$6.9B$6.3B$5.9B
Borrowings$1.2B$1.5B$515.0M$862.0M$98.0M$98.0M$36.0M$47.0M$410.0M$42.0M
Other Liabilities$2.5B$3.3B$4.6B$4.5B$5.1B$5.7B$6.1B$6.8B$6.3B$6.3B
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$335.0M$434.0M$744.0M$840.0M$844.0M$871.0M$645.0M$652.0M$840.0M$858.0M

For Pathward Financial, Inc., operating cash flow was positive in 9 of 10 reported years; free cash flow in the latest year was $237.0M; free cash flow was positive in 7 of 10 years; financing activities used $140.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$0$120.0M$138.0M$191.0M$467.0M$582.0M$269.0M$303.0M$454.0M$451.0M
Investing Cash Flow$-88.0M$-707.0M$-415.0M$-498.0M$-272.0M$-1.2B$-750.0M$-1.4B$-504.0M$-188.0M
Financing Cash Flow$12.0M$776.0M$-483.0M$-92.0M$805.0M$429.0M$179.0M$597.0M$-802.0M$-140.0M
Net Cash Flow$1.0M$494.0M$-1.2B$27.0M$301.0M$-113.0M$74.0M$-12.0M$-217.0M$-38.0M
Free Cash Flow$-7.0M$113.0M$112.0M$33.0M$401.0M$518.0M$-170.0M$-147.0M$177.0M$237.0M

Valuation & Return Ratios

MetricValue
PEG Ratio1.48
EV / EBITDA—
FCF Yield—
Quick Ratio—
Interest Coverage—
Return 1Y1.52%
Return 3Y46.09%
Return 5Y71.56%

Pathward Financial, Inc. (CASH) financials — frequently asked questions

What is Pathward Financial, Inc.'s annual revenue?

Pathward Financial, Inc. (CASH) reported annual revenue of $685.0M in its most recent fiscal year.

What is Pathward Financial, Inc.'s net profit?

Pathward Financial, Inc. (CASH) reported net profit of $186.0M in its most recent fiscal year.

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