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Sioux Falls bank providing banking-as-a-service, prepaid cards, tax-refund and commercial finance products for fintech partners.
Sioux Falls bank providing banking-as-a-service, prepaid cards, tax-refund and commercial finance products for fintech partners.
Earns by running programs for fintech and prepaid-card partners: card-swipe (interchange) fees, program fees, and low-cost deposits left in the bank by partners' customers. Tax-refund transfers make the first calendar quarter its busiest. It was known as Meta Financial until its 2022 rename.
In one line: A bank behind other fintechs' cards.
Moat: narrow (regulatory licence, switching costs). Bank charter plus embedded relationships with fintech partners create switching costs once integrated.
Headquarters: Sioux Falls, South Dakota · Employees: 1,224
Size Pathward Financial (CASH) is a United States Financials company (Major Banks) with a market value of $1.58B, the 1953rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $76.26 on 6 Nov 2026.
Performance Over six months the shares fell 11.7%, against +10.8% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue fell 0.5% over the last twelve months (peer median +14.2%); the operating margin is 25.0% (peer median 29.9%).
Valuation It trades at 1.93× book value against a peer median of 0.98× (4th most expensive of 21).
Price implies The share price implies a return on equity of about 12.8%; Pathward Financial delivers 20.9%, so the price asks less than the business earns today.
Short interest Short interest is 14.7% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $832M | $832M | $836M | $819M | $705M |
| Revenue growth | — | -1% | +2% | +16% | — |
| Net income | $175M | $175M | $185M | $182M | $161M |
| Free cash flow | n/a | n/a | $237M | $212M | -$147M |
| Capital expenditure | n/a | n/a | $214M | $277M | $450M |
| Total debt | $368M | $368M | $66.4M | $410M | $75.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Pathward Financial CASH | $1.58B | -12% | -1% | 21% | 1.93× | 12.8% |
| Bancorp TBBK | $1.97B | -15% | -7% | 33% | 2.96× | 26.3% |
| Green Dot GDOT | $697M | -3% | +18% | -3% | 0.74× | 7.8% |
| WEX WEX | $5.99B | +29% | +10% | 36% | 5.27× | 37.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CASH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | -0.4% | 6th highest of 21 |
| 6-month return | -11.7% | +10.8% | 6th lowest of 20 |
| Return on equity | 20.9% | 9.3% | 2nd highest of 21 |
| Price / book | 1.93× | 0.98× | 4th most expensive of 21 |
| Trailing P/E | 9.4× | 12.4× | 4th cheapest of 20 |
| ROE the price implies | 12.8% | 7.4% | 6th most demanding of 21 |
| ROE delivered | 20.9% | 10.5% | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Pathward Financial CASH | United States | $1.58B | -12% | -1% | 21% | 1.93× | 12.8% | 20.9% |
| Esquire Financial ESQ | United States | $1.57B | +21% | +33% | 11% | 2.00× | 10.2% | 10.5% |
| South Indian Bank SOUTHBANK.NS | India | $1.60B | +38% | +5% | 14% | 1.25× | 18.3% | 13.9% |
| QCR QCRH | United States | $1.64B | +11% | +3% | 13% | 1.43× | 10.9% | 12.7% |
| Punjab & Sind Bank PSB.NS | India | $1.52B | -22% | +3% | 11% | 0.99× | 14.8% | 10.7% |
| CHINA BOHAI BANK 9668.HK | Hong Kong | $1.67B | -23% | -5% | 6% | 0.10× | 3.4% | 5.5% |
| Hope Bancorp HOPE | United States | $1.68B | +6% | +7% | 6% | 0.75× | 7.6% | 5.9% |
| Inter & INTR | United States | $1.70B | -40% | +51% | 16% | 0.84× | 8.8% | 15.5% |
| Avarda Bank AVARDA.ST | Sweden | $1.47B | +42% | +22% | 26% | 4.29× | 23.7% | 26.0% |
| iM Financial 139130.KS | South Korea | $1.76B | -20% | +24% | 8% | 0.46× | 4.2% | n/a |
| FirstSun Capital Bancorp FSUN | United States | $1.77B | +5% | +45% | 4% | 0.98× | 6.3% | 4.2% |
| Senshu Ikeda Holdings,Inc 8714.T | Japan | $1.41B | -14% | +29% | 8% | 0.88× | 6.0% | 8.0% |
| Hyakujushi Bank 8386.T | Japan | $1.78B | +4% | +22% | 6% | 0.72× | 6.7% | 5.6% |
| Happen HAPN | United States | $1.84B | n/a | +26% | 14% | 1.16× | 14.5% | 13.8% |
| Far Eastern International Bank 2845.TW | Taiwan | $1.88B | +4% | +5% | 7% | 0.87× | 3.2% | 7.4% |
| Toho Bank 8346.T | Japan | $1.32B | +24% | +30% | 7% | 0.92× | 7.2% | 6.6% |
| SpareBank 1 Nord-Norge NONG.OL | Norway | $1.96B | +26% | -4% | 8% | 0.93× | 6.6% | 7.7% |
| City CHCO | United States | $1.99B | +15% | +3% | 16% | 2.55× | 13.9% | 16.4% |
| Old Second Bancorp OSBC | United States | $1.24B | +15% | +22% | 13% | 1.37× | 10.9% | 12.8% |
| Seven Bank 8410.T | Japan | $2.09B | +28% | +3% | 6% | 1.41× | 5.7% | 6.3% |
| Norion Bank NORION.ST | Sweden | $1.18B | +33% | -2% | 13% | 1.23× | 6.8% | 12.6% |