VersaBank financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data VersaBank files with the SEC in its annual reports.

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

Income statement

	FY2021	FY2021	FY2021	FY2023	FY2024	FY2025
Revenue	54.2	65.4	82.4	109	112	125
Pre-tax income	26.8	30.8	32.5	57.6	54.8	41.5
Income tax	7.35	8.41	9.89	15.5	15	13
Net income	19.4	22.4	22.7	42.2	39.7	28.5
EPS, basic	0.82	0.96	0.79	1.57	1.49	0.90
EPS, diluted	0.82	0.96	0.79	1.57	1.49	0.90

Balance sheet

	FY2021	FY2021	FY2021	FY2023	FY2024	FY2025
Cash and equivalents	258	272	88.6	132	225	582
Property, plant and equipment	7.43	7.08	6.87	6.54	23.9	23.9
Lease right-of-use assets	3.02	4.82	4.12	3.43	2.73	2.42
Goodwill	0	5.75	5.75	5.75	12.3	12.3
Intangible assets	0	3.64	3.19	2.79	12.1	10.6
Total assets	1,944	2,415	3,266	4,202	4,838	5,808
Total liabilities	1,689	2,083	2,915	3,824	4,439	5,276
Retained earnings	73.2	90.6	109	146	181	204
Total equity	255	332	351	377	399	533
Total liabilities and equity	1,944	2,415	3,266	4,202	4,838	5,808

Cash flow statement

	FY2021	FY2021	FY2021	FY2023	FY2024	FY2025
Net income	19.4	22.4	22.7	42.2	39.7	28.5
Cash from operations	140	-108	-32.7	94.7	273	44.5
Capital expenditures	-0.25	-0.01	-0.58	-0.36	-18.6	-0.95
Cash from investing	9.76	-8.44	-142	-28.1	-158	212
Debt repaid	0	-1.41	0
Stock issued					0.61	115
Dividends paid	-4.28	-3.85	-3.73	-3.6	-3.59	-3.24
Cash from financing	-30.9	131	-6.3	-17.3	-23.3	102
Exchange rate effect	0	-0.78	-2.38	-5.6	1.22	-2.3
Free cash flow	139	-108	-33.2	94.4	254	43.5
Interest paid	30.9	30.8	36	93.8	168	187

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	33.3%	Pre-tax income / revenue.
Net margin	22.8%	Net income / revenue.
FCF margin	34.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	35.7%	Cash from operations / revenue.
Effective tax rate	31.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	0.5%	Net income / average total assets.
Capex / revenue	0.8%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	14.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	18.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-28.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	7.9%	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	8.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-39.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	4.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	1.9%	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	-83.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-20.5%	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	-82.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-20.8%	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	20.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	21.2%	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	24.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	90.8%	Total liabilities / total assets.
Goodwill and intangibles / assets	0.4%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.02x	Revenue / average total assets.
Fixed asset turnover	5.21x	Revenue / average property, plant and equipment.
FCF conversion	152.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	2.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	CA$0.90	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.
EPS, basic	CA$0.90	Net income per basic share, as reported (split-adjusted).
Payout ratio	11.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	7.4%	Dividends paid / free cash flow, when free cash flow is positive.

What was VersaBank's revenue in fiscal 2025?

VersaBank reported revenue of CA$124.6M for fiscal 2025, 11.7% higher than the year before.

Was VersaBank profitable in fiscal 2025?

Yes. Net income was CA$28.5M, a net margin of 22.8%.

How much free cash flow did VersaBank generate in fiscal 2025?

Cash from operations of CA$44.5M minus capital expenditures of CA$954.0K left free cash flow of CA$43.5M.

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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