Amalgamated Financial Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Amalgamated Financial Corp. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Selling and marketing	3.4	2.91	3.51	3.23	3.74	4.18	3.73	2.35
Interest expense	14.2	19.3	10.5	6.22	18.6	96.8
Pre-tax income	50.3	64.2	61.9	70.7	108	125	146	140
Income tax	5.67	17	15.8	17.8	26.7	36.8	39.2	35.7
Net income to minority interests	0	0	0
Net income	44.7	47.2	46.2	52.9	81.5	88	106	104
EPS, basic	1.47	1.49	1.48	1.70	2.64	2.88	3.48	3.44
EPS, diluted	1.46	1.47	1.48	1.68	2.61	2.86	3.44	3.41
Shares, basic (weighted)	30.4	31.7	31.1	31.1	30.8	30.6	30.6	30.3
Shares, diluted (weighted)	30.6	32.2	31.2	31.5	31.2	30.8	30.9	30.6
Dividend per share	0.06	0.26	0.32	0.32

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	80.8	123	38.8	330	63.5	90.6	60.7	291
Property, plant and equipment		17.8	13	11.7	9.86	7.81	6.39	4.69
Lease right-of-use assets		47.3	36.1	33.1	28.2	21.1	14.2	9.6
Goodwill		12.9	12.9	12.9	12.9	12.9	12.9	12.9
Intangible assets			5.36	4.15	3.11	2.2	1.5	0.9
Total assets		5,325	5,979	7,078	7,843	7,972	8,257	8,870
Total liabilities		4,835	5,443	6,514	7,334	7,387	7,549	8,075
Total debt		75	0
Paid-in capital		306	301	298	287	288	289	294
Retained earnings		181	217	260	330	388	480	567
Treasury stock					0	-5.34	-2.82	-35.2
Other comprehensive income		3.23	17.2	5.41	-109	-86	-58.6	-32.1
Shareholders' equity		490	536	564	509	585	708
Minority interests		0.13	0.13	0.13	0.13	0.13	0
Total equity	439	491	536	564	509	585	708	794
Total liabilities and equity		5,325	5,979	7,078	7,843	7,972	8,257	8,870
Shares outstanding		31.5	31	31.1	30.7	30.4	30.7	29.8

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	44.7	47.2	46.2	52.9	81.5	88	106	104
Depreciation and amortization	4.2	4.63	6.19	3.64	9.3	5.51	4.7	6.22
Stock-based compensation	0.92	2.44	2.39	1.8	2.68	4.69	5.53	6.92
Deferred income tax	4.66	5.03	-0.41	7.05	14.4	4.24	5.18	1.68
Cash from operations	31	83.5	65.8	70.5	147	117	124	136
Capital expenditures	-1.43	-0.75	-1.61	-2.4	-1.67	-1.48	-1.78	-1.38
Acquisitions	31.7	0	0
Purchases of investments	-595	-479	-684	-1,221	-679	-116	-825	-965
Sales and maturities of investments	250	206	279	508	326	168	311	478
Cash from investing	-258	-546	-755	-865	-1,202	-134	-316	-378
Stock issued	0	0	0	0	0.67	0.8	0.79	1.39
Share buybacks	0	-5.79	-7	-2.92	-12.5	-8.32	-1.13	-32.3
Dividends paid	-1.93	-8.3	-9.99	-9.98	-11.2	-12.3	-14.2	-17.2
Cash from financing	192	504	606	1,087	788	44.2	162	473
Net change in cash	-35.6	41.7	-83.8	292	-267	27	-29.8	230
Free cash flow	29.6	82.7	64.2	68.1	146	116	122	134
Interest paid	14.6	19	11.5	6.04	18	85.7	129	124
Income taxes paid	3.56	9.31	9.82	5.69	6.65	22.6	34	20

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $47.58 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	24.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	1.2%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	-1.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	8.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	17.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-0.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	9.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	18.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	9.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-2.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	15.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	9.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-2.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	15.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	8.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	91.1%	Total liabilities / total assets.
Goodwill and intangibles / assets	0.1%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	129.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	10.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.76	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$4.86	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.43	Cash from operations / diluted weighted shares.
Cash per share	$5.61	(Cash + short-term investments) / shares outstanding.
Payout ratio	16.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	12.8%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	15.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.42B	Share price x shares outstanding.
Enterprise value	$1.25B	Market cap + total debt - cash - short-term investments.
P/E	12.5x	Market cap / net income. Only when net income is positive.
P/FCF	9.70x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.68x	Market cap / cash from operations, when positive.
EV/FCF	8.56x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.3%	Free cash flow / market cap.
Earnings yield	8.0%	Net income / market cap (the inverse of P/E).
Dividend yield	1.3%	Dividends paid over the period / market cap.
Shareholder yield	2.9%	(Dividends paid + share buybacks) / market cap.
PEG	1.35x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

Was Amalgamated Financial Corp. profitable in fiscal 2025?

Yes. Net income was $104.4M, a net margin of -.

How much free cash flow did Amalgamated Financial Corp. generate in fiscal 2025?

Cash from operations of $135.8M minus capital expenditures of $1.4M left free cash flow of $134.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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