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olivLaw · US equity research

Axos Financial, Inc. AX

Savings Institution, Federally Chartered · SIC 6035 · Vertical: Savings Institution, Federally Chartered (SIC 6035)

94.57USD+1.62% · 1 dayClose 04 Nov 2026

Axos Financial is a technology-driven, diversified financial services company offering digital banking, securities clearing and custody, and investment advisory services to retail and business clients. Its consolidated assets stood at roughly $30.0 billion at June 30, 2026, and it reported net income of $490.4 million for fiscal 2026, making it a company of interest in US digital banking.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Axos Financial, Inc. (AX) stock was 94.57 USD (+1.62% on the day), with market capitalisation 5.4 bn USD, P/E 10.7 on diluted EPS of 8.82 USD over the last 12 months, beta 1.13, 52-week range 75.60–105.10 USD. Latest reported quarter (Q1 2027): net income of 129.6 m USD (+15.4% YoY), diluted EPS 2.25 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
5.4 bn USD
shares as of 16 Oct 2026
P/E (TTM)
10.7
Diluted EPS TTM 8.82 · TTM to 30 Sept 2026
E/P (TTM)
9.32%
TTM to 30 Sept 2026
Dividend yield
unavailable
Beta (2y)
1.13
Volatility (1y) 30%
52-week range
75.60105.10

Price history

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Technical reading

RSI (14)
60.2
strong (55–70)
Bollinger (20, 2)
85.81 – 95.15
in the upper half of the band · %B 0.94 · band width 10.3%
SMA 50 / 200
91.40 / 92.35
mixed trend
MACD (12, 26, 9)
0.85 / 0.25
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+6.8%−2.0%+8.8 pp—
3 months−8.9%−2.2%−6.7 pp—
6 months+7.4%+4.3%+3.2 pp—
Year to date+9.8%+10.6%−0.8 pp—
1 year+19.7%+10.5%+9.2 pp+26.3%
3 years+132.4%+73.7%+58.7 pp+63.0%
5 years+57.1%+61.7%−4.6 pp—
Max drawdown (1y)
−19.0%
06 Feb 2026 → 18 Mar 2026
Max drawdown (5y)
−46.3%
24 Nov 2021 → 13 Nov 2023
Compound annual growth (5y)
+9.5%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q1 2027 · 30 Sept 2026

Revenue
unavailable USD
unavailable YoY
Net income
129.6 m USD
+15.4% YoY
Diluted EPS
2.25
+16.0% YoY
net / operating
unavailable / unavailable

Quarterly statements · USD

Fiscal yearQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26Q1 '27
Depreciation & amortisation7.0 m6.8 m272.0 k8.3 m23.2 m22.3 m-24.1 m29.2 m
Interest expense176.0 m157.3 m162.3 m174.7 m182.1 m172.0 m181.2 m185.8 m
Pre-tax income150.3 m148.1 m155.8 m149.9 m175.5 m165.3 m156.0 m175.2 m
Income tax45.6 m42.9 m45.1 m37.5 m47.1 m40.6 m31.0 m45.5 m
Net income104.7 m105.2 m110.7 m112.4 m128.4 m124.7 m124.9 m129.6 m
Diluted EPS1.801.811.96 ≈1.942.222.152.20 ≈2.25
Operating cash flow162.5 m ≈73.7 m ≈183.4 m118.4 m104.1 m ≈42.0 m ≈293.0 m294.9 m
Capex6.1 m ≈8.6 m ≈21.8 m9.1 m18.7 m ≈143.3 m ≈95.3 m59.4 m
Share repurchases0 ≈25.9 m ≈32.3 m0——22.0 m4.0 m

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 48 percentile of its own 40-quarter history (min 6.3, median 10.8, max 17.6; quarters with earnings only).

Fiscal years

Fiscal year20192020202120222023202420252026
Revenue27.6 m26.8 m31.3 m59.4 m65.3 m64.6 m65.8 m81.3 m
Revenue YoY+212.8%−2.9%+16.8%+89.7%+9.8%−1.0%+1.8%+23.5%
Net income155.1 m183.4 m215.7 m240.7 m307.2 m450.0 m432.9 m490.4 m
Net income YoY+1.8%+18.2%+17.6%+11.6%+27.6%+46.5%−3.8%+13.3%
Diluted EPS2.482.983.563.975.077.667.438.48
Diluted EPS YoY+4.6%+20.2%+19.5%+11.5%+27.7%+51.1%−3.0%+14.1%
net %561.5%684.0%688.4%405.0%470.7%696.2%658.0%603.5%
Free cash flow184.3 m271.8 m402.1 m195.1 m166.5 m269.5 m436.1 m291.1 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2026 · 30 Jun 2026

Cash
1.1 bn USD
Financial debt
342.9 m USD
Net debt
-765.7 m USD
Equity
3.2 bn USD
Total assets
30.0 bn USD
Debt / equity
0.11x
Current ratio
unavailable
ROE
16.8%
ROA
1.8%
FCF margin
358.3%

Financial statements (source on every figure)

Revenue and net income (USD)

Income statement · USD

Net interest income
2024
961.4 m
2025
1.1 bn
2026
1.2 bn

SEC (XBRL)· 20 Aug 2026verified

Net fee income
2024
222.7 m
2025
131.1 m
2026
233.6 m

SEC (XBRL)· 20 Aug 2026verified

Non-interest expense
2024
516.1 m
2025
589.7 m
2026
732.7 m

SEC (XBRL)· 20 Aug 2026verified

Pre-tax income
2024
635.5 m
2025
613.4 m
2026
646.7 m

SEC (XBRL)· 20 Aug 2026verified

Net income
2024
450.0 m
2025
432.9 m
2026
490.4 m

SEC (XBRL)· 20 Aug 2026verified

Diluted EPS
2024
7.66
2025
7.43
2026
8.48

SEC (XBRL)· 20 Aug 2026verified

Balance sheet · USD

Cash
2024
2.0 bn
2025
1.9 bn
2026
1.1 bn

SEC (XBRL)· 20 Aug 2026verified

Loans
2024
19.2 bn
2025
21.0 bn
2026
25.6 bn

SEC (XBRL)· 20 Aug 2026verified

Total assets
2024
22.9 bn
2025
24.8 bn
2026
30.0 bn

SEC (XBRL)· 20 Aug 2026verified

Deposits
2024
19.4 bn
2025
20.8 bn
2026
24.6 bn

SEC (XBRL)· 20 Aug 2026verified

Long-term debt
2024
325.7 m
2025
312.7 m
2026
342.9 m

SEC (XBRL)· 20 Aug 2026verified

Total liabilities
2024
20.6 bn
2025
22.1 bn
2026
26.8 bn

SEC (XBRL)· 20 Aug 2026verified

Equity
2024
2.3 bn †
2025
2.7 bn †
2026
3.2 bn †

SEC (XBRL)· 20 Aug 2026verified

Cash flow · USD

Share repurchases
2024
96.3 m
2025
58.2 m
2026
22.0 m

SEC (XBRL)· 20 Aug 2026verified

Computed indicators

Growth

Revenue growth (YoY)
23.5%
computed by olivLawFY 2026
Revenue CAGR 3Y
7.6%
computed by olivLawFY 2023 → FY 2026
Revenue CAGR 5Y
21.0%
computed by olivLawFY 2021 → FY 2026
Net income growth (YoY)
13.3%
computed by olivLawFY 2026
Net income CAGR 3Y
16.9%
computed by olivLawFY 2023 → FY 2026
Net income CAGR 5Y
17.9%
computed by olivLawFY 2021 → FY 2026
EPS growth (YoY)
14.1%
computed by olivLawFY 2026
EPS CAGR 3Y
18.7%
computed by olivLawFY 2023 → FY 2026
EPS CAGR 5Y
19.0%
computed by olivLawFY 2021 → FY 2026

Profitability

Net margin
624.8%
computed by olivLawFY 2026

Returns

ROE
16.7%
computed by olivLawFY 2026 · balance sheet at 30 Sept 2026
ROA
1.7%
computed by olivLawFY 2026 · balance sheet at 30 Sept 2026
Payout ratio (EPS)
unavailable
input data missing

Market and valuation

Market capitalisation
5.4 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Market cap / net income TTM
10.6x
computed by olivLawTTM to 30 Sept 2026
P/E (TTM)
10.7x
computed by olivLawTTM to 30 Sept 2026
Earnings yield
9.3%
computed by olivLawTTM to 30 Sept 2026
P/B
1.6x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
66.0x
computed by olivLawFY 2026 · balance sheet at 30 Sept 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
0.5%
computed by olivLawFY 2026 · balance sheet at 30 Sept 2026

Banking

Net interest margin
4.4%
computed by olivLawFY 2026 · balance sheet at 30 Sept 2026
Cost-to-income
49.7%
computed by olivLawFY 2026
Loan-to-deposit
102.0%
computed by olivLawbalance sheet at 30 Sept 2026
NPL ratio
unavailable
input data missing
CET1 ratio
unavailable
input data missing
Cost of risk
unavailable
input data missing

32 indicators that do not apply to the sector.

Valuation

olivLaw classification

Neutral profile

Score: 73 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

94.57 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 5.4 bn USD

Key indicators

Market capitalisation
5.4 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
10.7x
computed by olivLawTTM to 30 Sept 2026
P/B
1.6x
computed by olivLawbalance sheet at 30 Sept 2026
ROE
16.7%
computed by olivLawFY 2026 · balance sheet at 30 Sept 2026
Net margin
624.8%
computed by olivLawFY 2026
Revenue growth (YoY)
23.5%
computed by olivLawFY 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

14/20 reporting lines present
Latest full fiscal year: 2026
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 16 Oct 2026
Source: SEC (XBRL)published 29 Oct 2026
verified 2176derived 128

Score by group

  • Balance sheet0
  • Growth90
  • Valuation46
  • Quality89

Estimated value range

Low
82.82
USD per share
Mid
88.92
USD per share
High
95.67
USD per share
Price: 94.57 USD
The price is within the range
Potential to the central value: -6.0% (value / price − 1)
Margin of safety: -6.4% (1 − price / value)
Agreement between methods: medium · 4 methods used · 3 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 58.84 – 141.90 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • Residual income66.82 – 70.00 (Mid 68.38)
  • Justified P/B105.51 – 141.90 (Mid 121.03)
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
  • Peers: P/E98.83 – 117.98 (Mid 109.45)
    10 companies used · median multiple 12.4x · quartiles 11.2x – 13.4x
    BKU, CFFN, EBC, FCAP, HFBL, HTB, KRNY, NRIM, PFS, WNEB
  • Peers: P/B58.84 – 73.35 (Mid 64.21)
    12 companies used · median multiple 1.1x · quartiles 1.0x – 1.3x
    BKU, CFFN, EBC, FCAP, FDSB, HFBL, HTB, KFFB, KRNY, NRIM, PFS, WNEB
Multiple comparisons use the SIC vertical: Savings Institution, Federally Chartered (SIC 6035)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 73/100

FactorValueScoreWeight used
ROE · Quality16.7%100 (vs peers)21%
ROA · Quality1.7%96 (on a fixed band)8%
Cost-to-income · Quality49.7%61 (on a fixed band)13%
Net interest margin · Quality4.4%100 (on a fixed band)8%
EPS CAGR 3Y · Growth18.7%100 (on a fixed band)11%
Revenue CAGR 3Y · Growth7.6%76 (on a fixed band)8%
NPL ratio · Balance sheetunavailableunavailable—
Cost of risk · Balance sheetunavailableunavailable—
Loan-to-deposit · Balance sheet102.0%0 (on a fixed band)5%
P/B · Valuation1.6x8 (vs peers)13%
P/E (TTM) · Valuation10.7x85 (vs peers)13%
Dividend yield · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial0/100 · 1/3 factors with a value
  • Growth90/100 · 2/2 factors with a value
  • Quality89/100 · 4/4 factors with a value
  • Returns· partialunavailable · 0/1 factors with a value
  • Valuation46/100 · 2/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

AXOS FINANCIAL, INC. (AX). Latest full fiscal year: 2026; data up to 2026-09-30.

Figures computed from the financial statements: net interest income 1.2 bn USD in 2026; YoY growth 23.5%; net margin 624.8%; ROE 16.7%.

The estimated value range is 82.82–95.67 USD per share (median of 4 methods, agreement: medium); assumptions are illustrative. Against the central value of 88.92 USD, the price of 94.57 USD leaves a potential of -6.0% (value / price − 1) and a margin of safety of -6.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 73/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, returns. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • ROE: 16.7%
  • ROA: 1.7%
  • Net interest margin: 4.4%
  • EPS CAGR 3Y: 18.7%
  • Revenue CAGR 3Y: 7.6%
  • P/E (TTM): 10.7x

What contradicts it

  • Loan-to-deposit: 102.0%
  • P/B: 1.6x

Not assessed (insufficient data or a ratio without meaning): NPL ratio, Cost of risk, Dividend yield.

Versus the vertical median

Savings Institution, Federally Chartered (SIC 6035) · same industry (4-digit SIC) · compared with 14 companies

Multiples and returns vs the median

P/E
10.7x
vertical median 13.3x
below median (−19.4%)
EV/EBITDA
—
vertical median —
P/S
66.0x
vertical median 40.2x
above median (+64.3%)
P/B
1.6x
vertical median 1.1x
above median (+43.8%)
ROE
16.7%
vertical median 8.6%
above median (+94.1%)
Net margin
624.8%
vertical median 273.6%
above median (+128.4%)
EBIT margin
—
vertical median —
Revenue YoY
23.5%
vertical median 7.1%
above median (+233.0%)
Net debt/EBITDA
—
vertical median —
Dividend yield
—
vertical median 2.6%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
AXAxos Financial, Inc.5.4 bn10.716.7%624.8%+23.5%+20% / +132%
EBCEastern Bankshares, Inc.5.3 bn13.39.4%257.2%+19.1%+24% / +95%
TFSLTfs Financial Corporation4.7 bn46.05.3%—unavailable+17% / +26%
BKUBankUnited, Inc.3.2 bn12.39.2%1,154.5%+7.4%+4% / +63%
PFSProvident Financial Services Inc3.1 bn9.811.1%411.6%+7.1%+23% / +55%
CFFNCapitol Federal Financial, Inc.1.1 bn13.48.0%508.2%+6.5%+33% / +63%
HTBHomeTrust Bancshares, Inc.798.6 m12.511.0%—−1.9%+17% / +107%
KRNYKearny Financial Corp.605.1 m16.44.8%—+36.0%+36% / +18%
NRIMNorthrim Bancorp, Inc.545.0 m9.916.6%21.8%+30.4%−0% / +99%
WNEBWestern New England Bancorp, Inc.281.6 m16.76.9%—−34.3%+15% / +79%
FCAPFirst Capital, Inc.215.3 m11.613.9%252.8%+1.6%+29% / +145%
FDSBFifth District Bancorp, Inc.92.5 m52.41.3%273.6%−2.3%+29% / unavailable
HFBLHome Federal Bancorp, Inc. of Louisiana67.7 m11.110.8%364.5%+30.0%+40% / +72%
KFFBKentucky First Federal Bancorp44.4 m32.02.9%—−11.8%+31% / +18%
BYFCBroadway Financial Corporation——-7.6%-11,027.1%+18.7%+86% / +54%

1- and 3-year price returns: for AX from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
58.50
Total return -38% · Per year -38%
103.27
Total return 9% · Per year 9%
155.36
Total return 64% · Per year 64%
3 years
60.34
Total return -36% · Per year -14%
119.52
Total return 26% · Per year 8%
196.90
Total return 108% · Per year 28%
5 years
62.25
Total return -34% · Per year -8%
138.33
Total return 46% · Per year 8%
249.56
Total return 164% · Per year 21%
What moves the 3-year price the most
  • Exit P/E± 29.88
  • Net margin± 20.92
  • Annual revenue growth± 16.68
  • Annual dilution± 1.76

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 20 Aug 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).

In brief

Axos Financial is a technology-driven, diversified financial services company offering digital banking, securities clearing and custody, and investment advisory services to retail and business clients. Its consolidated assets stood at roughly $30.0 billion at June 30, 2026, and it reported net income of $490.4 million for fiscal 2026, making it a company of interest in US digital banking 12.

SWOT

Strengths

  • Management describes its net interest margin as best-in-class, and its deposit base is growing through low-cost digital channels 12.
  • The model combines banking, clearing and custody, diversifying non-interest income beyond a traditional bank's revenue mix.
  • Allowance coverage of non-accrual loans is high and net charge-offs have stayed low, signalling disciplined credit risk management 2.

Weaknesses

  • Geographic concentration of real estate loans in a few states makes the company sensitive to local property market declines.
  • Operating costs rose with acquisitions and staffing, and a legal accrual in the clearing unit weighed on the fourth quarter 2.
  • Reliance on deposits gathered through digital channels and partners could create volatility if clients move funds quickly.

Opportunities

  • Integrating acquired deposits and leasing assets could add recurring revenue if completed on schedule 12.
  • Growth in assets under custody at Axos Clearing could build fee income that is steadier than interest income.
  • The Arc Technologies cash management platform for small businesses could extend the offer to business clients 2.

Threats

  • Changes in Federal Reserve policy rates could compress net interest margin and reduce demand for mortgages.
  • An economic slowdown, especially in California and New York, could raise non-performing loans and credit losses.
  • Shifts in trade policy and tariffs could weigh on clients and collateral values, with indirect effects on the balance sheet 1.

Risks

  • Interest rate riskhigh

    Rapid changes in rates could reduce net interest income and affect the value of rate-sensitive assets, and the company cannot assure that it will fully manage this risk 1.

  • Credit risk in a weaker economyhigh

    If the economy deteriorates, borrowers could fall behind and property collateral could lose value, raising loss provisions 1.

  • Geographic concentrationmedium

    Heavy exposure to real estate loans in a few states means local events could affect the portfolio disproportionately 1.

  • Regulatory and policy riskmedium

    Changes to banking rules or to the activity of the consumer financial regulator could raise compliance costs or restrict operations 1.

  • Acquisition integration risklow

    Integrating acquired deposits and assets could prove costlier or slower than expected, with amortization and related costs staying elevated 12.

Investment thesis

What would need to be true (bull case)

  • If net interest margin stays strong and deposit growth continues, the company could sustain solid growth in diluted earnings per share.
  • Diversification across banking, clearing and custody could reduce reliance on interest income, and growth in client assets could support fee revenue.
  • Improved asset quality and high loss coverage could offer a cushion if the credit cycle weakens only moderately.

What would break the thesis

  • An economic slowdown, particularly in states with high loan concentration, could lead to larger losses than currently seen and lower profits.
  • Abrupt rate changes could compress net interest margin, especially if deposit costs rise faster than loan yields.
  • Acquisitions and their integration could bring extra operating costs and high amortization without the profit growth initially anticipated.

What to watch

  • Completion of the Capital One deposit acquisition and its effect on funding2026
  • Trend in net interest margin and deposit costsQ1 2027
  • Non-performing loans and net charge-offs in the real estate portfolioQ1 2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 20 Aug 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).

The business

Axos Bank provides deposit and lending products nationwide through digital channels and affinity partners, including single family mortgages, commercial real estate loans and commercial and industrial loans. Non-interest income comes from fees on loans sold, operating lease income, deposit service fees and payment processing. Axos Clearing and Axos Advisor Services offer clearing and custody to independent advisors and broker-dealers, while Axos Invest offers self-directed trading and digital investment services 1.

The company runs two operating segments, Banking and Securities, and its shares trade on the New York Stock Exchange under the symbol AX 1. Recent acquisitions, including Verdant Commercial Capital, the Jenius Bank deposits and Arc Technologies, have widened its equipment leasing, deposit and small-business payments activities 12.

Market context

The US digital banking and niche financial services market is intensely competitive, and the company says it wins customers through service quality and competitive deposit rates. In fiscal 2026, growth in net interest income and non-interest income supported a 14.1% rise in diluted earnings per share 12.

Real estate lending, where the company competes with traditional banks and private funds, remains sensitive to interest rates, and the high share of real estate loans in California and New York could make it vulnerable if those state economies slow 1.

Trends

  • Deposit growth through acquisitionstailwind

    The Jenius Bank and Capital One deposit deals could accelerate funding growth without building branches, if integration proceeds as planned 12.

  • Expansion of leasing and business lendingmixed

    The Verdant acquisition brought operating lease income and widened the commercial book, but it also adds credit exposure and higher amortization costs 12.

  • Rate pressure on deposit costsheadwind

    Rising rates could reduce mortgage demand and raise deposit costs, squeezing net interest margin if rate moves are rapid or unexpected 1.

  • Improving asset qualitytailwind

    Non-performing assets fell year on year and loss coverage is high, suggesting a solid credit base if the economy stays stable 2.

Competitive position

In banking, Axos competes with a broad range of depository and non-depository institutions for deposits, and with commercial banks, mortgage bankers and private funds for real estate lending. In clearing and advisory, competitors include large national firms, regional banks and niche companies, and some rivals are not broker-dealers and so fall outside the same regulatory framework 1.

  • Large and regional commercial banks

    Compete for deposits and commercial and real estate lending, with greater brand recognition and resources according to the company's filings 1.

  • Savings banks and mortgage lenders

    Compete in mortgage and real estate lending, where the company pursues direct borrower channels 1.

  • Broker-dealers and financial advisory firms

    Compete in clearing and advisory services for independent advisors, and some are not subject to broker-dealer regulation 1.

  • Private funds and other non-bank lenders

    Compete in commercial real estate and some commercial lending, often outside bank regulatory requirements 1.

News & filings

In the press

No news in our archive over the last 180 days.

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / Axos Financial, Inc. · 20 Aug 2026
  2. [2] Form 8-K, results release (exhibit 99.1) · SEC / Axos Financial, Inc. · 30 Jul 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.