Axos Financial Inc

Latest Results (22.11.2025):

Axos Financial Inc reported results for the fourth fiscal quarter ended June 30, 2025. For the quarter Axos reported net income of $110.7 million and diluted EPS of $1.92 (up from $104.9 million and $1.80 in Q4 FY2024). Adjusted earnings were $111.8 million with Adjusted EPS of $1.94. The quarter included strong loan growth, stable margins, higher non-interest income, and an improving capital and book value position.

Quarterly financial results

Net income: $110.7 million and diluted EPS $1.92 for Q4 FY2025 (up 5.5% and 6.7% vs. Q4 FY2024). Adjusted earnings were $111.8 million and Adjusted EPS $1.94 (up ~4.8% and 6.0% vs. prior-year quarter).

Loan growth

Net loans grew by $856 million in the quarter to ending net loan balances of $21.0 billion (up 4% QoQ, ~16% annualized).

Net interest income and margin

Net interest income was $280.2 million (up 7.7% YoY). Net interest margin was 4.84% for the quarter, slightly above the prior quarter's 4.78%.

Non‑interest income and notable items

Non‑interest income rose to $41.3 million (up 33.8% YoY), driven primarily by higher mortgage banking income including a $12.0 million gain on a loan sale in the quarter.

Credit costs and asset quality

Provision for credit losses was $15.0 million for the quarter (vs. $6.0 million in Q4 FY2024), driven by loan growth and macroeconomic model impacts; non‑performing assets to total assets improved to 0.71% (down from 0.79% QoQ).

Balance sheet and deposits

Total assets were $24.8 billion at June 30, 2025 (up 8.4% YoY). Total deposits were $20.8 billion (up $1.5 billion, or 7.6% vs. June 30, 2024). Axos added $214.7 million of net new assets under custody during the quarter.

Capital and book value

Total capital to risk‑weighted assets was 15.39% at June 30, 2025 (up from 14.84% a year earlier). Book value per share increased to $47.46, a 17.9% increase YoY.

Expenses

Non‑interest expense was $150.7 million for the quarter (up $10.1 million YoY), primarily reflecting higher salaries and data/operational processing costs.

Tax outlook

The effective tax rate was about 29% in Q4 FY2025 (includes one‑time non‑cash deferred tax asset adjustment related to California tax methodology). Management currently expects the effective tax rate to decline by approximately three percentage points starting in the period ending September 30, 2025.

Segment performance

Banking segment drove the bulk of net interest income ($276.7 million) and most of the provision for credit losses; the Securities segment contributed the majority of non‑interest income ($29.6 million) in the quarter.