TFS Financial CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TFS 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Interest expense	118	130	162	217	213	158	142	328
Pre-tax income	122	133	121	102	100	100	92.1	93.4	100	115
Income tax	41.8	44.5	35.8	22	16.9	19.1	17.5	18.1	20.7	23.8
Net income	80.6	88.9	85.4	80.2	83.3	81	74.6	75.3	79.6	91
EPS, basic	0.28	0.32	0.31	0.29	0.30	0.29	0.26	0.27	0.28	0.32
EPS, diluted	0.28	0.32	0.30	0.28	0.29	0.29	0.26	0.26	0.28	0.32
Shares, basic (weighted)	282	277	276	275	276	277	277	277	278	279
Shares, diluted (weighted)	284	279	277	277	278	279	279	279	279	280
Dividend per share	0.43	0.55	0.76	1.02	1.11	1.12	1.13	1.13	1.13	1.13

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	231	268	270	275	498	488	370	467	464	429
Property, plant and equipment	61	60.9	63.4	61.6	41.6	37.4	34.5	34.7	33.2	40
Lease right-of-use assets					20.8	27.9	30.2	37.5	17.8	17.5
Total assets	12,906	13,693	14,137	14,542	14,642	14,057	15,790	16,918	17,091	17,456
Total liabilities	11,246	12,003	12,379	12,846	12,970	12,325	13,946	14,991	15,228	15,562
Paid-in capital	1,717	1,723	1,727	1,734	1,743	1,747	1,751	1,755	1,754	1,758
Retained earnings	699	760	808	838	866	854	870	887	915	947
Treasury stock	-682	-736	-754	-765	-768	-768	-772	-776	-772	-774
Other comprehensive income	-19.6	-7.49	23.2	-69.4	-132	-67.8	23.1	85.2	-15.6	-21.2
Shareholders' equity	1,660	1,690	1,758	1,697	1,672	1,732	1,844	1,927	1,863	1,894
Total equity	1,660	1,690	1,758	1,697	1,672	1,732	1,844	1,927	1,863	1,894
Total liabilities and equity	12,906	13,693	14,137	14,542	14,642	14,057	15,790	16,918	17,091	17,456
Shares outstanding	284	281	280	280	280	281	281	280	281	281

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	80.6	88.9	85.4	80.2	83.3	81	74.6	75.3	79.6	91
Depreciation and amortization	5.51	5.63	5.72	5.89	5.44	5.42	5.39	4.92	4.62	4.62
Stock-based compensation	13.4	11.3	11.4	11.8	12.1	13.7	11	10	9.5	9.65
Deferred income tax	11.1	3.55	3.95	21.9	21.8	-14.2	-26.9	3.73	2.7	1.35
Cash from operations	84.9	101	92.1	103	122	83.2	38.9	90.7	88.6	82.4
Capital expenditures	-9.13	-4.15	-8.37	-3.78	-3.21	-1.34	-2.7	-5.1	-3.06	-11.5
Purchases of investments				-158	-171	-297	-250	-145	-134	-160
Cash from investing	-454	-755	-475	-342	148	547	-1,875	-1,009	-125	-384
Debt issued	40.3	0	15.1	275	250	100	600	350	725	225
Debt repaid	-186	-208	-282	-421	-350	-4.69	-3.65	-77.9	-427	-427
Share buybacks	-128	-54	-19.7	-9.09	-2.32	-5.59	-6.29	-5.98	-1.93	-3.98
Dividends paid	-23.4	-27.7	-37.6	-50.5	-55.5	-56.6	-58.3	-58.3	-59	-59.5
Cash from financing	445	691	384	244	-46.5	-640	1,717	1,015	33.1	267
Net change in cash	75.9	37	1.56	5.37	223	-9.71	-119	97.2	-3.03	-34.3
Free cash flow	75.8	97	83.7	99.2	119	81.8	36.2	85.6	85.5	71
Income taxes paid	31.8	38.2	32.5	9.69	1.67	25.8	39.6	21.8	15.7	16.5

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 $16.72 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	21.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	5.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.6%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	14.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.8%	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	1.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	14.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	2.0%	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	-7.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	28.4%	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	-7.5%	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	-17.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	25.1%	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	-9.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	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	0.4%	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	1.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.9%	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	2.5%	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	2.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.4%	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	3.6%	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	0.2%	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	0.1%	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	89.2%	Total liabilities / total assets.
Tangible book value	$1.96B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	84.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.36	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	$0.31	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.35	Cash from operations / diluted weighted shares.
Book value per share	$6.98	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.98	Tangible book value / shares outstanding.
Cash per share	$2.03	(Cash + short-term investments) / shares outstanding.
Payout ratio	58.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	69.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	10.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.69B	Share price x shares outstanding.
Enterprise value	$4.12B	Market cap + total debt - cash - short-term investments.
P/E	45.9x	Market cap / net income. Only when net income is positive.
P/B	2.40x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.40x	Market cap / tangible book value, when positive.
P/FCF	54.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	47.9x	Market cap / cash from operations, when positive.
EV/FCF	47.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.8%	Free cash flow / market cap.
Earnings yield	2.2%	Net income / market cap (the inverse of P/E).
Dividend yield	1.3%	Dividends paid over the period / market cap.
Shareholder yield	1.5%	(Dividends paid + share buybacks) / market cap.
PEG	6.41x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

Was TFS Financial CORP profitable in fiscal 2025?

Yes. Net income was $91.0M, a net margin of -.

How much free cash flow did TFS Financial CORP generate in fiscal 2025?

Cash from operations of $82.4M minus capital expenditures of $11.5M left free cash flow of $71.0M.

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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