Bread Financial Holdings Inc. (BFH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.77	$3.55	+28.2%	—	$993M	—
Q3 25	$2.11	$4.02	+90.5%	—	$971M	—
Q2 25	$1.96	$3.14	+60.2%	—	$929M	—
Q1 25	$2.23	$2.9	+30.0%	—	$970M	—
Q4 24	$0.37	$0.41	+10.8%	—	$925M	—
Q3 24	$1.95	$1.84	-5.6%	—	$983M	—
Q2 24	$1.64	$2.66	+62.2%	—	$939M	—
Q1 24	$2.97	$2.73	-8.1%	—	$991M	—
Q4 23	-$0.83	$0.9	+208.4%	—	$1B	—
Q3 23	$2.28	$3.46	+51.8%	—	$1B	—
Q2 23	$0.05	$1.27	+2440.0%	—	$952M	—
Q1 23	$6.59	$9.08	+37.8%	—	$1.3B	—
Q4 22	-$2.8	-$2.68	+4.3%	—	$1B	—
Q3 22	$2.19	$2.69	+22.8%	—	$990M	—
Q2 22	$2.2	$0.56	-74.5%	—	$914M	—
Q1 22	$4.41	$4.21	-4.5%	—	$933M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$11.1	—	—	$3.8B	—
FY24	—	$5.58	—	—	$3.8B	—
FY23	—	$14.4	—	—	$4.3B	—
FY22	—	$4.47	—	—	$3.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$7.1B	$5.5B	$5.7B	$3.3B	$3.3B	$3.3B	$3.9B	$4.3B	$3.8B	$3.8B
YoY change	+10.8%	-23.3%	+3.51%	-40.9%	-1.49%	-0.85%	+18.3%	+11%	-10.6%	+0.18%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	7.1B	5.5B	5.7B	3.3B	3.3B	3.3B	3.9B	4.3B	3.8B	3.8B
Cost of revenue	4.7B	2.9B	3.1B	3.3B	2.6B	1.6B	—	—	—	—
Gross profit	2.4B	2.5B	2.6B	2.3B	2B	2.1B	—	—	—	—
Gross margin	34.1%	46.6%	45.7%	69.4%	59.1%	63.1%	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	143.2M	159.3M	162.5M	926M	752M	831M	959M	1B	1B	1B
Operating expenses	1.1B	1.3B	1.2B	1B	860M	917M	959M	1B	1B	1B
Operating income	837M	1.1B	1.2B	810.3M	394.5M	1B	—	—	—	—
Operating margin	11.7%	19.4%	21.4%	24.2%	12%	31.9%	—	—	—	—
Non-operating income, net	—	—	—	-71.9M	-64M	—	—	—	—	—
Pretax income	837M	1.1B	1.2B	662M	301M	1B	300M	968M	381M	615M
Income tax	319.4M	293.3M	269.5M	156M	93M	247M	76M	231M	102M	94M
Net income	517.6M	788.7M	963.1M	278M	214M	801M	223M	718M	277M	518M
Net margin	7.25%	14.4%	17%	8.3%	6.49%	24.5%	5.76%	16.7%	7.22%	13.5%
EBITDA	1.3B	1.6B	1.7B	1.1B	613M	1.2B	—	—	—	—
EPS	7.37	14.2	17.6	6.02	4.47	16.1	4.47	14.4	5.58	11.1
Diluted EPS	7.34	14.1	17.5	6.02	4.46	16	4.46	14.3	5.49	10.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1B	1B	991M	939M	983M	925M	970M	929M	971M	975M	1B	993M
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	246M	266M	241M	247M	266M	290M	250M	246M	260M	276M	255M	261M
Operating expenses	246M	266M	241M	247M	266M	290M	250M	246M	260M	276M	255M	261M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	225M	18M	188M	180M	40M	-27M	197M	174M	196M	47M	243M	197M
Income tax	52M	-26M	53M	47M	37M	-34M	55M	35M	8M	-6M	62M	51M
Net income	171M	43M	134M	133M	2M	7M	138M	139M	188M	54M	181M	146M
Net margin	16.6%	4.23%	13.5%	14.2%	0.2%	0.76%	14.2%	15%	19.4%	5.54%	17.8%	14.7%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	3.44	—	2.71	2.69	0.05	0.14	2.81	2.97	4.04	—	4.19	3.62
Diluted EPS	3.42	—	2.7	2.66	0.05	0.14	2.78	2.94	3.96	—	4.15	3.55

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	10.7B	11.3B	6.6B	4.5B	2.8B	3.3B	1.9B	1.6B	3B	3.5B	3.9B
Enterprise value	21.4B	22B	16.1B	7.4B	8.5B	7.7B	6B	3.3B	4.9B	4.3B	3.6B
Shares outstanding	58.6M	55.7M	54.9M	50M	47.8M	49.7M	49.9M	49.8M	49.6M	46.8M	46.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20.6	14.3	6.83	16.1	13.2	4.13	8.43	2.28	10.9	6.69	7.85
P/S	1.5	2.06	1.16	1.34	0.86	1.01	0.49	0.38	0.79	0.9	1.46
P/B	6.44	6.07	2.82	2.82	1.86	1.59	0.83	0.56	0.99	1.04	1.16
EV/EBITDA	15.9	14.1	9.48	6.83	13.8	6.57	—	—	—	—	—
EV/Sales	3	4.01	2.85	2.2	2.57	2.34	1.56	0.77	1.27	1.11	1.33
Earnings yield	4.84%	7%	14.6%	6.21%	7.57%	24.2%	11.9%	43.8%	9.15%	15%	12.7%
FCF yield	18%	21.1%	38.9%	24%	64.7%	46.6%	98.3%	121.1%	61.4%	60.4%	13.3%
PEG	—	—	—	—	—	—	—	—	—	—	0.36

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	34.1%	46.6%	45.7%	69.4%	59.1%	63.1%	—	—	—	—	—
Operating margin	11.7%	19.4%	21.4%	24.2%	12%	31.9%	—	—	—	—	29%
Net margin	7.25%	14.4%	17%	8.3%	6.49%	24.5%	5.76%	16.7%	7.22%	13.5%	21.4%
ROE	31.2%	42.5%	41.3%	17.5%	14.1%	38.4%	9.85%	24.6%	9.08%	15.6%	17.4%
ROA	2.03%	2.57%	3.17%	1.05%	0.95%	3.68%	—	—	1.21%	2.29%	2.57%
ROIC	4.19%	6.13%	7.95%	13.9%	3.8%	12.4%	—	—	—	—	—
Return on tangible assets	3.25%	3.7%	3.43%	1.15%	1.01%	3.93%	—	—	1.29%	2.44%	2.62%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.12	2.43	2.15	2.03	1.72	1.69	—	—	—	—	—
Quick ratio	2.09	2.41	2.13	2.01	1.71	1.69	—	—	—	—	—
Debt / equity	7.57	8.02	5.74	4.61	5.7	3.63	3.59	1.86	1.86	1.32	0.01
Debt / assets	0.49	0.49	0.44	0.28	0.38	0.35	—	—	0.25	0.19	0.15
Net debt / EBITDA	7.93	6.86	5.62	2.67	9.23	3.73	—	—	—	—	—
Interest coverage	3.84	6.12	7.77	5.73	3.36	—	—	—	—	—	—
Effective tax rate	38.2%	27.6%	22.2%	23.6%	30.9%	23.7%	25.3%	23.9%	26.8%	15.3%	16.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	121.8	98.3	103.2	67	69	65.8	77.6	86.2	77.4	82.2	61.3
EPS (basic)	7.37	14.2	17.6	6.02	4.47	16.1	4.47	14.4	5.58	11.1	11.1
EPS (diluted)	7.34	14.1	17.5	6.02	4.46	16	4.46	14.3	5.49	10.9	12.9
Book value per share	28.3	33.3	42.5	31.8	31.8	42	45.4	58.6	61.5	71.1	87
FCF per share	32.8	42.6	46.5	21.5	38.3	31	37	39.9	37.5	44.7	53.9
Cash per share	31.7	75.2	69.5	88.7	63.2	64.8	79.9	75.5	77.6	77	95.9

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	5.8%	14.6%	13%	45.7%	28.5%	5.24%	19.3%	5.85%	15.5%	8.11%	6.98%
Dividend yield	0.28%	1.03%	1.9%	2.84%	2.16%	1.27%	2.29%	2.56%	1.42%	1.21%	0.91%

Yield

0.91%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.23

ex-dividend Aug 31, 2026

Payout ratio

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.23
May 29, 2026	$0.23
Feb 27, 2026	$0.23
Nov 7, 2025	$0.23
Aug 8, 2025	$0.21
May 9, 2025	$0.21
Feb 14, 2025	$0.21
Nov 8, 2024

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1B	$1B	$991M	$939M	$983M	$925M	$970M	$929M	$971M	$975M	$1B	$993M
YoY change	+4.14%	-1.55%	-23.5%	-1.37%	-4.66%	-9.05%	-2.12%	-1.06%	-1.22%	+5.41%	+4.95%	+6.89%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	1.9B	4.2B	3.8B	4.4B	3B	3.2B	4B	3.8B	3.8B	3.6B
Receivables	797.2M	822.3M	404M	451.1M	114M	151M	164M	144M	145M	148M
Inventory	271.3M	234.1M	248M	218M	164.3M	—	—	—	—	—
Total current assets	19.6B	24.7B	24.7B	24.1B	20.7B	19.9B	—	—	—	—
Property, plant & equipment	586M	613.9M	310.6M	546.6M	422M	388M	693M	-78M	229M	180M
Goodwill & intangibles	9.6B	9.4B	2.3B	2.2B	1.4B	1.4B	1.6B	1.5B	1.5B	1.4B
Total assets	25.5B	30.7B	30.4B	26.5B	22.5B	21.7B	—	—	22.9B	22.7B
Accounts payable	568.3M	651.2M	486.2M	300.8M	354M	291M	398M	422M	326M	289M
Short-term debt	2.5B	1.5B	2.9B	22.6M	0	0	0	0	0	0
Total current liabilities	9.2B	10.1B	11.5B	11.9B	12B	11.8B	—	—	—	—
Long-term debt	10.1B	13.4B	10.5B	7.3B	8.7B	7.6B	8.1B	5.4B	5.7B	4.4B
Total liabilities	23.9B	28.8B	28.1B	24.9B	21B	19.7B	—	—	19.8B	19.3B
Shareholders' equity	1.7B	1.9B	2.3B	1.6B	1.5B	2.1B	2.3B	2.9B	3.1B	3.3B
Total debt	12.6B	14.9B	13.4B	7.3B	8.7B	7.6B	8.1B	5.4B	5.7B	4.4B
Net debt	10.7B	10.7B	9.6B	3.4B	5.9B	4.5B	4.2B	1.9B	2B	789M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3.4B	3.8B	4B	4.2B	3.6B	3.8B	4.4B	4B	3.9B	3.8B	3.8B	3.9B
Receivables	—	144M	—	—	—	145M	—	—	—	148M	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	-78M	—	—	—	229M	—	—	—	180M	—	—
Goodwill & intangibles	771M	1.5B	753M	744M	754M	1.5B	738M	731M	723M	1.4B	708M	701M
Total assets	—	—	22.3B	22.1B	21.7B	22.9B	22.4B	21.8B	21.7B	22.7B	22.3B	22.5B
Accounts payable	—	422M	—	—	—	326M	—	—	—	289M	—	—
Short-term debt	0	0	—	—	0	0	0	0	0	0	—	—
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	4.2B	5.4B	4.7B	4.8B	4.6B	5.7B	5.1B	4.2B	3.8B	4.4B	3.9B	3.3B
Total liabilities	—	—	—	19B	18.6B	19.8B	19.3B	18.7B	18.4B	19.3B	19B	19.1B
Shareholders' equity	2.9B	2.9B	3B	3.2B	3.1B	3.1B	3.1B	3.2B	3.3B	3.3B	3.3B	3.4B
Total debt	4.2B	5.4B	4.7B	4.8B	4.6B	5.7B	5.1B	4.2B	3.8B	4.4B	3.9B	3.3B
Net debt	843M	1.9B	863M	701M	1.1B	2B	909M	428M	23M	789M	304M	-386M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	517.6M	788.7M	963.1M	278M	214M	801M	223M	718M	277M	518M
Depreciation & amortization	512.1M	497.6M	487.3M	249M	184M	123M	113M	116M	90M	80M
Stock-based compensation	76.5M	75.1M	80.8M	55M	21M	29M	33M	44M	54M	56M
Change in working capital	-347.6M	84.3M	-184.2M	-510M	470.8M	-41M	-47M	28M	-67M	-39M
Operating cash flow	1.2B	1.5B	1.7B	170M	740.8M	1B	254M	981M	243M	2.1B
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-4.1B	-4B	-1.7B	4.5B	-245M	-288M	-85M	-84M	-53M	-26M
Dividends paid	-30M	-115.5M	-125.2M	-127M	-61M	-42M	-43M	-42M	-43M	-42M
Share repurchases	-798.8M	-553.7M	-443.2M	-976M	0	0	-12M	-35M	-55M	-313M
Financing cash flow	2.6B	4B	-1.2B	-4.4B	-1.8B	-616M	489M	-2.9B	-51M	-1.6B
Net change in cash	-260.4M	1.4B	-1.2B	175M	-1.3B	105M	658M	-2B	139M	424M
Free cash flow	1.9B	2.4B	2.6B	1.1B	1.8B	1.5B	1.8B	2B	1.9B	2.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	172M	43M	134M	134M	2M	7M	138M	138M	188M	54M	181M	147M
Depreciation & amortization	23M	24M	23M	23M	22M	22M	21M	21M	19M	19M	19M	18M
Stock-based compensation	10M	12M	15M	13M	13M	13M	13M	15M	13M	15M	15M	16M
Change in working capital	77M	46M	-26M	-10M	-45M	14M	-121M	56M	-13M	39M	-73M	42M
Operating cash flow	327M	135M	126M	163M	-37M	28M	74M	526M	605M	568M	487M	533M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-11M	-21M	-9M	-7M	-3M	2M	-6M	-4M	-7M	-2M	-11M	-1M
Dividends paid	-11M	-10M	-11M	-11M	-10M	-11M	-12M	-10M	-9M	-11M	-14M	-11M
Share repurchases	-35M	0	-11M	0	0	-44M	-103M	-47M	-40M	-123M	-153M	-243M
Financing cash flow	-524M	1B	-682M	90M	-340M	881M	-579M	-964M	-502M	332M	-632M	-847M
Net change in cash	-208M	1.2B	-565M	246M	-380M	911M	-511M	-442M	96M	898M	-156M	-315M
Free cash flow	619M	644M	430M	451M	453M	508M	393M	514M	605M	568M	487M	533M

Bread Financial Holdings Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history