BFH

MKT CAP:$4B

Bread Financial Holdings, Inc.

Market Cap

$4B

Financial Services·Financial - Credit Services·🇺🇸 United States·NYSE

Financials·Financial·🇺🇸·NYSE

Stock Price

$86.16+$10.86 (+14.42%)

Apr 24, 2026

Company Details

Bread Financial Holdings, Inc. provides tech-forward payment and lending solutions to customers and consumer-based industries in North America. It offers credit card and other loans financing services, including risk management solutions, a...

CEO

Ralph J. Andretta

IPO Date

Jun 15, 2001

Website

www.breadfinancial.com

Key Metrics TTM

Revenue

$4.7B

-1.3% YoY

Net Income

$646M

EPS (Diluted)

$13.83

Free Cash Flow

$2.0B

Revenue / Share

$109.63

Gross Margin

57.3%

Operating Margin

17.1%

Net Margin

13.6%

FCF Margin

42.1%

P/S

0.8x

P/E

5.6x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$1.2B+1.3%EPS $4.15

FY 2025

Feb 13, 2026

$4.7B-2.1%EPS $10.96

Q3 2025

Oct 27, 2025

$1.2B-3.4%EPS $3.96

Q2 2025

Jul 28, 2025

$1.1B-2.6%EPS $2.94

Q1 2025

Apr 28, 2025

$1.2B-3.6%EPS $2.78

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$76M	$649M	-$13M
Q1 22	$1.0B	$740M	$302M
Q3 22	$1.1B	$686M	$189M
Q4 22	$1.2B	$341M	-$208M
Q1 23	$1.5B	$1.2B	$638M
Q2 23	$1.2B	$616M	$86M
Q3 23	$1.3B	$727M	$225M
Q4 23	$1.3B	$535M	$18M
Q1 24	$1.2B	$670M	$188M
Q2 24	$1.2B	$649M	$180M
Q3 24	$1.2B	$614M	$40M
Q4 24	$1.2B	$508M	-$27M
Q1 25	$1.2B	$674M	$197M
Q2 25	$1.1B	$655M	$174M
Q3 25	$1.2B	$672M	$196M
Q1 26	$1.2B	$715M	$243M

Valuation

Quarter	P/S	P/E
Q4 21	1.4x	4.3x
Q1 22	1.0x	3.9x
Q3 22	0.5x	2.7x
Q4 22	0.6x	8.6x
Q1 23	0.3x	2.3x
Q2 23	0.3x	3.2x
Q3 23	0.3x	3.1x
Q4 23	0.3x	2.3x
Q1 24	0.4x	4.5x
Q2 24	0.5x	4.7x
Q3 24	0.5x	7.6x
Q4 24	0.6x	11.0x
Q1 25	0.5x	8.8x
Q2 25	0.6x	9.8x
Q3 25	0.6x	5.7x
Q1 26	0.7x	4.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$475M	$451M
Q4 21	$335M	$310M
Q1 22	$497M	$477M
Q3 22	$608M	$597M
Q4 22	$497M	$482M
Q1 23	$398M	$387M
Q2 23	$343M	$343M
Q3 23	$629M	$619M
Q4 23	$617M	$617M
Q1 24	$447M	$430M
Q2 24	$477M	$468M
Q3 24	$456M	$482M
Q4 24	$479M	$479M
Q1 25	$393M	$393M
Q2 25	$526M	$526M
Q3 25	$605M	$597M

Capital Expenditures

Quarter	CapEx
Q3 21	$24M
Q4 21	$25M
Q1 22	$20M
Q3 22	$11M
Q4 22	$15M
Q1 23	$11M
Q2 23	$0
Q3 23	$10M
Q4 23	$0
Q1 24	$17M
Q2 24	$9M
Q3 24	$26M
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$8M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	-93.2%	-89.6%
Q1 22	+26.2%	+137.5%
Q3 22	+47.0%	+221.3%
Q4 22	+44.3%	+206.7%
Q1 23	+1904.0%	+890.9%
Q2 23	+14.3%	+50.8%
Q3 23	+11.3%	+9.7%
Q4 23	+2.2%	-13.9%
Q1 24	-18.1%	+20.1%
Q2 24	+2.0%	-6.6%
Q3 24	-2.2%	+15.4%
Q4 24	-7.9%	-4.4%
Q1 25	-3.6%	-5.0%
Q2 25	-2.6%	-2.5%
Q3 25	-3.4%	-16.7%
Q1 26	+4.8%	-18.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$9M	1.1%
Q4 21	$4M	5.8%
Q1 22	$7M	0.7%
Q3 22	$8M	0.7%
Q4 22	$9M	0.7%
Q1 23	$9M	0.6%
Q2 23	$13M	1.1%
Q3 23	$10M	0.8%
Q4 23	$12M	1.0%
Q1 24	$15M	1.2%
Q2 24	$13M	1.1%
Q3 24	$13M	1.1%
Q4 24	$13M	1.1%
Q1 25	$13M	1.1%
Q2 25	$15M	1.3%
Q3 25	$13M	1.1%

OpEx Breakdown

Quarter	G&A	S&M
Q4 21	$592M	$160M
Q1 22	$179M	$31M
Q3 22	$202M	$44M
Q4 22	$207M	$56M
Q1 23	$220M	$39M
Q2 23	$217M	$40M
Q3 23	$210M	$36M
Q4 23	$220M	$46M
Q1 24	$213M	$28M
Q2 24	$214M	$33M
Q3 24	$228M	$38M
Q4 24	$242M	$48M
Q1 25	$215M	$35M
Q2 25	$212M	$34M
Q3 25	$222M	$38M
Q1 26	$220M	—

Revenue Segments

Quarter

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$3.1B	$131M	$3.2B
Q3 22	$3.6B	$105M	$3.7B
Q4 22	$3.9B	$95M	$4.0B
Q1 23	$3.6B	$44M	$3.7B
Q2 23	$3.3B	$39M	$3.4B
Q3 23	$3.4B	$27M	$3.4B
Q4 23	$3.6B	$171M	$3.8B
Q1 24	$3.8B	$175M	$4.0B
Q2 24	$4.1B	$178M	$4.2B
Q3 24	$3.5B	$182M	$3.6B
Q4 24	$3.7B	$170M	$3.8B
Q1 25	$4.2B	$172M	$4.4B
Q2 25	$3.8B	$176M	$4.0B
Q3 25	$3.8B	$174M	$3.9B
Q4 25	$3.6B	$171M	$3.8B
Q1 26	$3.6B	$0	$3.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	50M	0.0%	+3.3%
Q1 22	50M	0.0%	+0.4%
Q3 22	50M	-0.2%	-0.2%
Q4 22	50M	0.0%	-0.2%
Q1 23	50M	+0.4%	+0.2%
Q2 23	50M	+0.4%	+0.6%
Q3 23	50M	-0.4%	+0.4%
Q4 23	50M	-1.0%	-0.6%
Q1 24	50M	+0.2%	-0.8%
Q2 24	50M	+1.0%	-0.2%
Q3 24	51M	+1.6%	+1.8%
Q4 24	50M	-1.2%	+1.6%
Q1 25	50M	-1.6%	-0.2%
Q2 25	47M	-4.8%	-6.0%
Q3 25	48M	+0.6%	-6.9%
Q1 26	43M	-9.1%	-14.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$12.6K	6K
Q1 22	$168.7K	6K
Q3 22	$187.2K	6K
Q4 22	$163.7K	8K
Q1 23	$201.7K	8K
Q2 23	$154.3K	8K
Q3 23	$166.7K	8K
Q4 23	$179.3K	7K
Q1 24	$177.0K	7K
Q2 24	$168.6K	7K
Q3 24	$174.7K	7K
Q4 24	$192.7K	6K
Q1 25	$199.2K	6K
Q2 25	$191.5K	6K
Q3 25	$196.8K	6K
Q1 26	$201.8K	6K

Revenue / Employee