Pathward Financial (CASH) Q4 FY2025 earnings: revenue $187 million, up 4.0% on the year
Pathward Financial, Inc. (CASH) reported revenue of $187 million for Q4 FY2025, the quarter ended 30 September 2025, up 4.0% on the same quarter a year earlier. Net income was $39 million, up 15.5% on the year, and diluted earnings per share $1.69. The figures are the company's own, from the 10-K it filed with the SEC on 25 November 2025.
The quarter, against the one before and a year earlier
| Line | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Change on the year |
|---|---|---|---|---|
| Revenue | 187 | 196 | 180 | +4.0% |
| Selling, general and administrative | 0.0 | 0.0 | n/a | n/a |
| Pre-tax income | 48.4 | 47.2 | 37.5 | +29.0% |
| Income tax | 9.3 | 4.8 | 3.4 | +175.0% |
| Effective tax rate | 19.2% | 10.2% | 9.0% | |
| Net income | 38.8 | 42.1 | 33.6 | +15.5% |
| Net margin | 20.8% | 21.5% | 18.7% | |
| Diluted EPS | $1.69 | $1.81 | $1.35 | +25.2% |
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Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.Cash flow and capital returned
| Line | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Change on the year |
|---|---|---|---|---|
| Operating cash flow | n/a | 30.4 | 135 | n/a |
| Capital expenditure | 3.3 | 2.7 | 4.4 | -23.4% |
| Free cash flow | n/a | 27.7 | 131 | n/a |
| Cash from investing | n/a | -282 | -79.6 | n/a |
| Cash from financing | -241 | 254 | -196 | n/a |
| Depreciation and amortisation | 14.3 | 15.1 | 13.9 | +2.6% |
| Share-based compensation | 2.3 | 2.2 | 2.5 | -9.2% |
| Dividends paid | 1.1 | 1.1 | 1.2 | -8.0% |
| Dividend per share | $0.05 | $0.05 | $0.05 | +0.0% |
| Diluted shares, weighted | n/a | 23m | n/a | n/a |
| Shares outstanding at period end | 22m | 23m | 24m | -7.4% |
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet at quarter end
| Line | Q4 FY2025 | Q3 FY2025 | Q4 FY2024 | Change on the year |
|---|---|---|---|---|
| Shareholders' equity | 858 | 819 | 840 | +2.2% |
| Non-controlling interest | -0.6 | -0.9 | -0.3 | n/a |
| Deposits | 5,887 | 6,005 | 5,875 | +0.2% |
| Short-term borrowings | 9.0 | 115 | 377 | -97.6% |
| Debt | 33.5 | 33.4 | 33.4 | +0.3% |
| Other liabilities | 385 | 258 | 424 | -9.1% |
| Total liabilities and equity | 7,172 | 7,230 | 7,549 | -5.0% |
| Fixed assets | 40.6 | 39.8 | 39.1 | +4.0% |
| Goodwill | 298 | 298 | 310 | -3.7% |
| Intangible assets | 12.5 | 13.3 | 16.6 | -24.6% |
| Securities held for sale or to maturity | 1,357 | 1,398 | 1,774 | -23.5% |
| Loans | 4,612 | 4,637 | 4,030 | +14.4% |
| Cash and equivalents | 121 | 258 | 158 | -23.9% |
| Other assets | 732 | 586 | 1,222 | -40.1% |
| Total assets | 7,172 | 7,230 | 7,549 | -5.0% |
Questions
What was Pathward Financial's revenue in Q4 FY2025?
Pathward Financial (CASH) reported revenue of $187 million for Q4 FY2025, the quarter ended 30 September 2025, up 4.0% on the same quarter a year earlier.
How much did Pathward Financial earn in Q4 FY2025?
Net income for Q4 FY2025 was $39 million, up 15.5% on the year, and diluted earnings per share $1.69.
When did Pathward Financial report Q4 FY2025 results?
Pathward Financial filed its 10-K for the quarter ended 30 September 2025 with the SEC on 25 November 2025.
Quarterly results, the last 12 quarters
| Q4 FY2023 † | Q1 FY2024 † | Q2 FY2024 † | Q3 FY2024 † | Q4 FY2024 † | Q1 FY2025 † | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 170 | 172 | 258 | 189 | 180 | 183 | 275 | 196 | 187 | 173 | 276 | 190 |
| SG&A | n/a | n/a | n/a | n/a | n/a | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Interest expense | 4.7 | 5.9 | 8.5 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Pre-tax income | 21.0 | 42.9 | 87.1 | 51.2 | 37.5 | 36.2 | 91.4 | 47.2 | 48.4 | 42.7 | 87.2 | 32.2 |
| Tax rate | -23% | 18% | 19% | 12% | 9% | 17% | 18% | 10% | 19% | 17% | 16% | 10% |
| Net income | 25.3 | 34.9 | 69.9 | 44.9 | 33.6 | 30.0 | 75.0 | 42.1 | 38.8 | 35.2 | 72.9 | 29.0 |
| Net margin | 15% | 20% | 27% | 24% | 19% | 16% | 27% | 22% | 21% | 20% | 26% | 15% |
| Diluted EPS | $1.36 | $1.06 | $2.56 | $1.66 | $1.35 | $1.29 | $3.14 | $1.81 | $1.69 | $1.57 | $3.35 | $1.37 |
| Operating cash flow | 114 | 29.5 | 193 | 103 | 135 | -71.7 | 193 | 30.4 | n/a | 108 | 233 | 52.0 |
| Capital expenditure | 3.6 | 1.9 | 1.7 | 2.2 | 4.4 | 2.1 | 3.6 | 2.7 | 3.3 | 4.2 | 2.3 | 3.4 |
| Free cash flow | 111 | 27.6 | 191 | 101 | 131 | -73.8 | 190 | 27.7 | n/a | 104 | 231 | 48.6 |
| Dividends paid | 1.3 | 1.3 | 1.3 | 1.3 | 1.2 | 1.2 | 1.2 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 |
| Shares outstanding | 0 | 25m | 25m | 25m | 24m | 24m | 23m | 23m | 22m | 22m | 21m | 21m |
| Filing | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q |
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A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.Source
10-K for the period ended 30 September 2025, filed 25 November 2025, accession 0000907471-25-000116: the filing on EDGAR. All of Pathward Financial, Inc.'s filings: EDGAR company page.
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