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Pathward Financial (CASH) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 6, 2026 · Pathward Financial (CASH) Q3 FY26 earnings results →

Q3 FY26 Revenue down 3% year over year to $190M · 15¢ of every $1 of revenue kept as net profit · operating margin 17.0%

Pathward Financial made $190M in Q3 FY26 (-3% Y/Y): Consumer $111M, Commercial $78.4M, Corporate Services/Other $503K. Operating margin 17.0%, net earnings $29.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.

Revenue$190M
Year over year-3%
Operating margin17.0%
Net earnings$29.0M
Operating cash flow$52.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $189.6M in Q3 FY26, down 3% year over year and down 31% from the previous quarter. Consumer was the largest line at 58% of revenue. Consumer lost $7.0M year over year (down 6%), 114% of the total change.

Operating profit was $32.2M, a 17.0% margin (down 7.1 points year over year). Total costs grew 6% against a revenue fall of 3%. Net earnings were $29.0M, down 31% year over year. The effective tax rate was 9.5%.

Operating cash flow was $52.0M (up 71% year over year), 178% of net earnings. Non-cash charges added back $10.8M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $9.4M. Capital expenditures of $3.4M left free cash flow of $48.6M.

Quarterly history

Pathward Financial revenue by quarterPathward Financial revenue by quarter$211MQ4 FY24$275MQ2 FY25$196MQ3 FY25$187MQ4 FY25$173MQ1 FY26$276MQ2 FY26$190MQ3 FY26
Pathward Financial net earnings by quarterPathward Financial net earnings by quarter$33.5MQ4 FY24$75.0MQ2 FY25$42.1MQ3 FY25$38.8MQ4 FY25$35.2MQ1 FY26$72.9MQ2 FY26$29.0MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 6, 2026$190M-3%17.0%$29.0M$52.0M
Q2 FY2610-QMay 7, 2026$276M+0.5%31.6%$72.9M$233M
Q1 FY2610-QFeb 5, 2026$173M-5%24.6%$35.2M$108M
Q4 FY2510-KNov 25, 2025$187M+4%25.9%$38.8M$304M
Q3 FY2510-QSep 16, 2025$196M+4%24.1%$42.1M$30.4M
Q2 FY2510-QSep 10, 2025$275M+7%33.2%$75.0M$188M
Q4 FY2410-KNov 26, 2024$211M+14%17.8%$33.5M$143M

Charts

Pathward Financial: revenue growth, year over year and quarter over quarterPathward Financial: revenue growth, year over year and quarter over quarterY/YQ/Q+14%Q4 FY24+7%+30%Q2 FY25+4%-29%Q3 FY25+4%-5%Q4 FY25-5%-7%Q1 FY26+0%+60%Q2 FY26-3%-31%Q3 FY26
Latest (Q3 FY26): Y/Y -3%, Q/Q -31%.
Pathward Financial: where the cash came from (+) and went (−), TTM to Q3 FY26Pathward Financial: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$697MOther investing−$616MTaxes on employees’ shares−$167MCash drawn (+) / kept (−)$109MCapital spending−$13.3MDividends−$4.4MExchange rates−$3.3MOther financing−$2.4MPartners$203KShares issued$1K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Pathward Financial: profit against cash, quarter by quarterPathward Financial: profit against cash, quarter by quarterNet incomeOperating cash flow$34.1M$143MQ4 FY24$30.2M−$71.7MQ1 FY25$75.2M$188MQ2 FY25$42.4M$30.4MQ3 FY25$39.1M$304MQ4 FY25$35.5M$108MQ1 FY26$73.1M$233MQ2 FY26$29.2M$52.0MQ3 FY26
Latest (Q3 FY26): Net income $29.2M, Operating cash flow $52.0M.
Pathward Financial: diluted shares by fiscal yearPathward Financial: diluted shares by fiscal year35MFY2032MFY2129MFY2227MFY2325MFY2424MFY25
-32.5% since FY20: buybacks shrank the count.
Pathward Financial in its industry: growth against margin (68 companies, SIC 6021)Pathward Financial in its industry: growth against margin (68 companies, SIC 6021)revenue growth, year over year →↑ operating marginmedian +8%median 37%JPMBACCWFCCOFUSBPNCTFCHBANKEYPNFPHSBC USA IncZIONUMBFWebster Financial CorpONBCFRVLYBOKFBANCFNBFHNFULTWSFSFFBCWSBCCBUPRKTRMKWAFDFRMENBTBBANFOCFCNWBITBBKNICHOPEFCFDCOMNBHCBHRBAMTBWBHCCHCOALRSHAFCNEWTCACCBNKBFCFMCBWABCSHBIPFISCAREBCALSFSTMRBKFDBCFNLCFUNCLCNBATLOCFBKASRVNKSHCASH (-3%, 17%)
National Commercial Banks; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Pathward Financial

Pathward Financial, a registered bank holding company ("BHC") that has elected to be a financial holding company ("FHC"), was incorporated in Delaware on June 14, 1993. Pathward Financial's principal assets are all the issued and outstanding shares of the Bank, a chartered national bank, the accounts of which are insured up to applicable limits by the Federal Deposit Insurance Corporation ("FDIC") as administrator of the Deposit Insurance Fund (“DIF”). Unless the context otherwise requires, references herein to the Company include Pathward Financial and the Bank, and all subsidiaries of Pathward Financial, direct or indirect, on a consolidated basis.

In its own words, from its 10-K, filed Nov 25, 2025.

Pathward Financial against its National Commercial Banks peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -3% against the peers' median +6%. Operating margin: 17.0% against the peers' median 30.6%.

CompanyQuarterRevenueY/YOp. margin
CASH Pathward FinancialQ3 FY26$190M-3%17.0%
JPM JPMorgan ChaseQ3 2026$50.2B+8%40.1%
BAC Bank of AmericaQ3 2026$30.0B+3%29.9%
C CitigroupQ3 2026$23.8B+8%30.6%
WFC Wells FargoQ3 2026$21.9B+2%32.5%
COF Capital One FinancialQ3 2026$16.3B+6%28.0%
USB US BancorpQ3 2026$8.0B+9%35.1%
PNC PNC Financial Services GroupQ3 2026$6.6B+11%40.0%
TFC Truist FinancialQ3 2026$3.7B-28%23.9%

Source: Pathward Financial 10-Q on SEC EDGAR · CIK 907471 · National Commercial Banks

13F: who owns CASH and who is buying

Largest holders of CASH (13F)Largest holders of CASH (13F)BlackRock$270MFMR LLC$157MState Street$125MAmerican Century Companies$111MVanguard Group$108MDimensional Fund Advisors LP$92.7MPure Financial Advisors, LLC$73.1MGeode Capital Management, LLC$63.8MVanguard Capital Management LLC$63.5MEarnest Partners LLC$49.5M
Funds' net buying of CASH by quarter (13F)Funds' net buying of CASH by quarter (13F)−$27.7M2024-09$3.2M2024-12−$119M2025-03−$26.1M2025-06−$7.0M2025-09−$66.6M2025-12$87.0M2026-03$4.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CASH

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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