AX

MKT CAP:$5B

Axos Financial, Inc.

Market Cap

$5B

Financial Services·Banks - Regional·🇺🇸 United States·NYSE

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$95.50+$8.12 (+9.29%)

Apr 24, 2026

Company Details

Axos Financial, Inc., together with its subsidiaries, provides consumer and business banking products in the United States. It operates through Banking Business and Securities Business segments. The company offers deposits products, includi...

CEO

Gregory Garrabrants

IPO Date

Mar 16, 2005

Website

axosfinancial.com

Key Metrics TTM

Revenue

$2.0B

+3.0% YoY

Net Income

$457M

EPS (Diluted)

$7.89

Free Cash Flow

$421M

Revenue / Share

$34.31

Gross Margin

62.6%

Operating Margin

31.5%

Net Margin

22.9%

FCF Margin

21.1%

P/S

2.7x

P/E

11.9x

Earnings Reports

Q3 2026

Apr 30, 2026

PENDING

Q2 2026

Jan 29, 2026

$563M+17.4%EPS $2.22

Q1 2026

Oct 30, 2025

$494M-2.9%EPS $1.94

FY 2025

Aug 21, 2025

$1.9B+9.2%EPS $7.43

Q4 2025

Aug 21, 2025

$479M-0.2%EPS $1.92

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$185M	$170M	$87M
Q4 22	$207M	$183M	$82M
Q1 23	$248M	$196M	$83M
Q2 23	$304M	$221M	$117M
Q3 23	$336M	$222M	$115M
Q4 23	$376M	$226M	$117M
Q1 24	$394M	$235M	$118M
Q2 24	$420M	$241M	$217M
Q3 24	$472M	$284M	$156M
Q4 24	$480M	$281M	$144M
Q1 25	$509M	$302M	$159M
Q2 25	$480M	$291M	$150M
Q3 25	$462M	$290M	$148M
Q4 25	$479M	$302M	$156M
Q1 26	$494M	$302M	$150M
Q2 26	$563M	$356M	$176M

Valuation

Quarter	P/S	P/E
Q3 22	7.5x	22.9x
Q4 22	7.2x	22.5x
Q1 23	6.6x	22.7x
Q2 23	5.7x	20.9x
Q3 23	4.9x	19.5x
Q4 23	4.3x	17.6x
Q1 24	3.8x	16.4x
Q2 24	3.6x	13.5x
Q3 24	3.3x	12.5x
Q4 24	3.1x	12.0x
Q1 25	2.9x	11.3x
Q2 25	2.8x	12.5x
Q3 25	2.8x	12.7x
Q4 25	2.8x	12.5x
Q1 26	2.8x	12.5x
Q2 26	2.7x	11.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$142M	$139M
Q4 22	$145M	$135M
Q1 23	$71M	$63M
Q2 23	$106M	$100M
Q3 23	-$58M	-$64M
Q4 23	$69M	$58M
Q1 24	$34M	$28M
Q2 24	$119M	$108M
Q3 24	$116M	$107M
Q4 24	$44M	$33M
Q1 25	$71M	$53M
Q2 25	$163M	$156M
Q3 25	$74M	$65M
Q4 25	$183M	$162M
Q1 26	$118M	$109M
Q2 26	$104M	$85M

Capital Expenditures

Quarter	CapEx
Q3 22	$3M
Q4 22	$10M
Q1 23	$8M
Q2 23	$6M
Q3 23	$6M
Q4 23	$11M
Q1 24	$6M
Q2 24	$11M
Q3 24	$8M
Q4 24	$10M
Q1 25	$18M
Q2 25	$6M
Q3 25	$9M
Q4 25	$22M
Q1 26	$9M
Q2 26	$19M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+5.2%	-1.8%
Q4 22	+21.6%	+31.9%
Q1 23	+37.1%	+72.0%
Q2 23	+65.1%	+91.1%
Q3 23	+81.4%	+125.1%
Q4 23	+81.2%	+105.9%
Q1 24	+58.9%	+67.1%
Q2 24	+38.2%	+8.6%
Q3 24	+40.5%	+43.0%
Q4 24	+27.9%	+29.9%
Q1 25	+28.9%	+26.5%
Q2 25	+14.1%	+62.1%
Q3 25	-2.2%	-0.9%
Q4 25	-0.2%	-3.7%
Q1 26	-2.9%	-1.5%
Q2 26	+17.4%	+17.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$7M	4.0%
Q4 22	$5M	2.6%
Q1 23	$5M	2.1%
Q2 23	$6M	2.1%
Q3 23	$8M	2.3%
Q4 23	$7M	1.8%
Q1 24	$7M	1.7%
Q2 24	$7M	1.6%
Q3 24	$9M	2.0%
Q4 24	$13M	2.6%
Q1 25	$10M	2.0%
Q2 25	$10M	2.0%
Q3 25	$11M	2.4%
Q4 25	$11M	2.3%
Q1 26	$11M	2.2%
Q2 26	$11M	1.9%

OpEx Breakdown

Quarter	G&A	S&M
Q3 22	$53M	$3M
Q4 22	$67M	$3M
Q1 23	$75M	$6M
Q2 23	$7M	$11M
Q3 23	$64M	$12M
Q4 23	$69M	$8M
Q1 24	$71M	$10M
Q2 24	$71M	$10M
Q3 24	$80M	$10M
Q4 24	$84M	$12M
Q1 25	$88M	$14M
Q2 25	$90M	$11M
Q3 25	$89M	$11M
Q4 25	$92M	$11M
Q1 26	$91M	$12M
Q2 26	$108M	$13M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$998M	$230M	$1.2B
Q4 22	$1.2B	$263M	$1.5B
Q1 23	$1.4B	$258M	$1.6B
Q2 23	$1.8B	$248M	$2.0B
Q3 23	$2.3B	$280M	$2.6B
Q4 23	$2.2B	$233M	$2.5B
Q1 24	$2.2B	$237M	$2.4B
Q2 24	$1.6B	$240M	$1.8B
Q3 24	$2.1B	$208M	$2.3B
Q4 24	$2.0B	$141M	$2.1B
Q1 25	$2.6B	$138M	$2.7B
Q2 25	$2.4B	$97M	$2.5B
Q3 25	$2.0B	$80M	$2.1B
Q4 25	$1.9B	$66M	$2.0B
Q1 26	$2.6B	$58M	$2.6B
Q2 26	$1.0B	$61M	$1.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	61M	-0.2%	+0.2%
Q4 22	60M	-0.5%	-0.4%
Q1 23	60M	+0.3%	-0.3%
Q2 23	61M	+0.0%	-0.4%
Q3 23	61M	+0.2%	+0.0%
Q4 23	60M	-1.5%	-1.0%
Q1 24	60M	+0.2%	-1.1%
Q2 24	58M	-3.1%	-4.3%
Q3 24	58M	+0.2%	-4.3%
Q4 24	58M	+0.2%	-2.6%
Q1 25	58M	+0.0%	-2.7%
Q2 25	58M	+0.1%	+0.5%
Q3 25	58M	0.0%	+0.3%
Q4 25	58M	-1.1%	-1.0%
Q1 26	58M	+1.2%	+0.1%
Q2 26	58M	0.0%	+0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$159.1K	1K
Q4 22	$155.3K	1K
Q1 23	$185.9K	1K
Q2 23	$227.8K	1K
Q3 23	$251.9K	1K
Q4 23	$258.2K	1K
Q1 24	$271.1K	1K
Q2 24	$289.0K	1K
Q3 24	$324.6K	1K
Q4 24	$269.8K	2K
Q1 25	$285.5K	2K
Q2 25	$269.3K	2K
Q3 25	$259.4K	2K
Q4 25	$241.0K	2K
Q1 26	$248.3K	2K
Q2 26	$283.0K	2K

Revenue / Employee