Customers Bancorp, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Customers Bancorp, Inc. 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue		56	43.2	46.7	40.2
Selling and marketing	1.55	1.47	2.45	2.69	1.8	1.52	2.54	3.1	4.49	2.44
Interest expense	73	106	160	186	140	95.8	262	680
Pre-tax income	125	124	91.1	108	190	441	291	331	224	288
Income tax	45.9	45	19.4	26.4	46.7	86.9	63.3	80.6	42.9	64.3
Income from continuing operations	78.7	78.8	71.7	81.4	143	354	228	250	181	224
Net income	78.7	78.8	71.7	79.3	133	315	228	250	181	224
EPS, basic	2.51	2.10	1.81	2.08	3.76	9.29	6.69	7.49	5.28	6.46
EPS, diluted	2.31	1.97	1.78	2.05	3.74	8.91	6.51	7.32	5.09	6.26
Shares, basic (weighted)	27.6	30.7	31.6	31.2	31.5	32.3	32.6	31.4	31.5	32.4
Shares, diluted (weighted)	30	32.6	32.2	31.6	31.7	33.7	33.5	32.2	32.7	33.4

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	265	146	62.1	213	693	518	456	3,846	3,786	4,411
Property, plant and equipment	12.8	12	11.1	9.39	11.2	8.89	9.03	7.37	6.67	16.7
Lease right-of-use assets				20.2	16.6	12.7	16.1	15.6	35.3	34.3
Total assets	9,383	9,840	9,833	11,521	18,439	19,575	20,896	21,316	22,308	24,896
Short-term debt	772	1,767	1,435	1,038	1,100	775	300	0	100	0
Total liabilities	8,527	8,919	8,877	10,468	17,322	18,209	19,493	19,678	20,472	22,780
Total debt	180		0	350	4,415	0
Paid-in capital	427	422	434	444	456	542	552	565	575	667
Retained earnings	194	258	317	382	439	706	924	1,160	1,326	1,535
Treasury stock	-8.23	-8.23	-21.2	-21.8	-21.8	-49.4	-82.6	-122	-142	-68.6
Other comprehensive income	-4.89	-0.36	-22.7	-1.25	-5.76	-4.98	-163	-137	-96.6	-54.1
Shareholders' equity	856	921	957	1,053	1,117	1,366	1,403	1,638	1,837	2,116
Total equity	856	921	957	1,053	1,117	1,366	1,403	1,638	1,837	2,116
Total liabilities and equity	9,383	9,840	9,833	11,521	18,439	19,575	20,896	21,316	22,308	24,896
Shares outstanding	30.3	31.4	31	31.3	31.7	32.9	32.4	31.4	31.3	34.2

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	78.7	78.8	71.7	79.3	133	315	228	250	181	224
Depreciation and amortization	5.9	10.8	14.2	13.6	18.5	21.7	27.2	31.8	33.6	41.8
Stock-based compensation	7.07	7.17	9.74	9.85	12.9	13.9	14.2	12.6	14.4	18.5
Deferred income tax	-2.58	14.8	9.3	9.64	-15.9	17.8	6.91	22.2	-1.14	-11
Cash from operations	91.4	62.2	97.5	78.3	133	296	-20.8	125	145	495
Capital expenditures	-5.43	-2.14	-1.78	-1.52	-4.67	-0.61	-4.05	-0.59	-1.49	-13.7
Acquisitions	-17	0
Purchases of investments		-797	-763	0	-1,202	-3,626	-1,357	-1.43	-846	-941
Sales and maturities of investments	64.7	48.1	44.3	97.6	388	317	464	323	629	406
Cash from investing	-962	-565	-104	-1,444	-6,425	-1,201	-1,298	3,158	-1,006	-2,057
Debt issued	0	98.6	0
Debt repaid	0	0	-63.3
Stock issued	71	2.72	3.59	2.15	0.92	27.8	0.53	3.11	1.76	166
Share buybacks	0	0	-13	-0.57	0	-27.7	-33.2	-39.8	-19.2	-5.64
Cash from financing	870	385	-77.6	1,517	6,773	755	1,257	108	801	2,188
Net change in cash	0.12	-118	-84.2	150	481	-175	-62.2	3,391	-60.4	626
Free cash flow	86	60.1	95.7	76.8	128	295	-24.9	124	144	481
Interest paid	71.2	102	160	183	131	108	227	650	715	601
Income taxes paid	57.3	40.3	4.79	7.41	3.25	94.1	80.1	45	57.6	36.1

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 $77.06 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	22.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.1%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	23.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-0.6%	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	11.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	23.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-1.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	10.9%	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	241.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	30.0%	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	235.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	30.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	15.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	14.7%	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	13.6%	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	11.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.0%	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	6.2%	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	2.2%	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	-0.1%	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	1.1%	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	91.7%	Total liabilities / total assets.
Tangible book value	$2.21B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	125.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$8.35	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	$10.50	Free cash flow / diluted weighted shares.
Operating cash flow per share	$10.91	Cash from operations / diluted weighted shares.
Book value per share	$65.31	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$65.31	Tangible book value / shares outstanding.
Cash per share	$123.74	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	13.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.60B	Share price x shares outstanding.
Enterprise value	-$1.58B	Market cap + total debt - cash - short-term investments.
P/E	8.93x	Market cap / net income. Only when net income is positive.
P/B	1.18x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.18x	Market cap / tangible book value, when positive.
P/FCF	7.10x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.84x	Market cap / cash from operations, when positive.
FCF yield	14.1%	Free cash flow / market cap.
Earnings yield	11.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.9%	(Dividends paid + share buybacks) / market cap.

Was Customers Bancorp, Inc. profitable in fiscal 2025?

Yes. Net income was $224.1M, a net margin of -.

How much free cash flow did Customers Bancorp, Inc. generate in fiscal 2025?

Cash from operations of $494.8M minus capital expenditures of $13.7M left free cash flow of $481.0M.

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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