BayFirst Financial Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data BayFirst 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

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Selling and marketing	3.55	2.7	2.66	3.34	2.05	1.43
Interest expense	10.3	7.3	8.57	32.1
Pre-tax income	15.8	11.7	7.04	8.03	13.8	-33
Income tax	3.08	2.69	1.56	2.12	3.52	-8.45
Income from continuing operations		9.03	5.48	5.92	10.3	-24.6
Net income	12.7	24.6	-0.35	5.7	10.2	-24.6
EPS, basic	2.75	4.95	-0.23	0.93	2.09	-6.32
EPS, diluted	2.40	4.71	-0.18	0.89	2.09	-6.32
Shares, basic (weighted)	4.3	4.77	5.04	5.14	4.13	4.13
Shares, diluted (weighted)	5.02	5.1	5.29	5.74	4.13	4.13
Dividend per share	0.21	0.22	0.26	0.26	0.24	0.16

Balance sheet

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	55.4	110	66	58.4	77.8	207
Property, plant and equipment	18.1	29.7	35.4	38.9	33.2	31.2
Lease right-of-use assets	3.74	3.26	3.18	2.42	15.8	14.5
Total assets	1,545	917	939	1,118	1,283	1,294
Total liabilities	1,474	821	847	1,017	1,176	1,213
Paid-in capital	43	51.5	53	54.5	54.8	54.4
Retained earnings	13.4	35.9	33.5	34.4	39.8	13.8
Other comprehensive income	0	-0.42	-3.72	-2.98	-2.96	-1.96
Shareholders' equity	71.1	96.3	91.9	98.8	107	81.6
Total equity	71.1	96.3	91.9	98.8	107	81.6
Total liabilities and equity	1,545	917	939	1,118	1,283	1,294
Shares outstanding	4.37	4.99	5.07	5.15	4.13	4.11

Cash flow statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	12.7	24.6	-0.35	5.7	10.2	-24.6
Depreciation and amortization	1.41	1.34	1.72	2.25	2.46	2.19
Stock-based compensation	0.37	0.46	0.76	0.6	0.4	0.1
Deferred income tax	-3.71	3.41	0.42	2.12	-0.28	-7.76
Cash from operations	-108	495	440	455	393	289
Capital expenditures	-3.05	-13.1	-8.06	-7.58	-1.69	-0.3
Purchases of investments	0	-33.2	-20.3	0	-4.46	-5.72
Sales and maturities of investments	0	1.64	2.81	3.68	7.66	2.87
Cash from investing	-933	208	-511	-641	-519	-198
Stock issued	0.92	1.85	0.51	0.29	-0.02	0.05
Share buybacks		0	-0.05	-0.01	0	-0.34
Dividends paid	-0.92	-1.06	-1.29	-1.31	-1.32	-0.66
Cash from financing	986	-649	26.7	179	145	38.8
Net change in cash	-55.2	54.3	-43.7	-7.66	19.4	129
Free cash flow	-111	482	432	447	392	289
Interest paid	8.5	8.97	8.19	31.9	44.6	39.9
Income taxes paid	9.75	10.4	0.25	0.1	0.01	5.3

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 $6.80 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	-52.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-5.3%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	-341.1%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-402.4%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-26.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-13.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-26.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-12.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	-33.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-14.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-5.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-23.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-3.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	11.3%	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	-3.5%	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	-0.1%	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	-7.9%	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	-3.8%	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	89.8%	Total liabilities / total assets.
Tangible book value	$115.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Capex / operating cash flow	0.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$14.70	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	$35.69	Free cash flow / diluted weighted shares.
Operating cash flow per share	$35.72	Cash from operations / diluted weighted shares.
Book value per share	$28.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$28.22	Tangible book value / shares outstanding.
Cash per share	$33.89	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	0.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	0.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$183.2M	Share price x shares outstanding.
Enterprise value	$44.0M	Market cap + total debt - cash - short-term investments.
P/B	1.58x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.58x	Market cap / tangible book value, when positive.
P/FCF	1.25x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	1.25x	Market cap / cash from operations, when positive.
EV/FCF	0.30x	Enterprise value / free cash flow, when both are positive.
FCF yield	80.0%	Free cash flow / market cap.
Earnings yield	-32.9%	Net income / market cap (the inverse of P/E).
Dividend yield	0.0%	Dividends paid over the period / market cap.
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

Was BayFirst Financial Corp. profitable in fiscal 2025?

No. It reported a net loss of $24.6M.

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

Cash from operations of $288.8M minus capital expenditures of $300.0K left free cash flow of $288.5M.

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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