EPS matched consensus, but the spike in net charge-offs (1.09% vs 0.11% last year) warrants attention. Management attributed it to two previously reserved CI loans, and excluding those, annualized net charge-offs were 0.08%. Monitor the December quarter for loan growth acceleration as management guided for large loans that did not close in September to close in December.
Price Chart
Executive Summary
Axos Financial reported Q1 FY2027 GAAP diluted EPS of $2.25, essentially in line with the $2.26 consensus, and net interest income of $331.3M, up 13.8% YoY. Net income rose 15.4% YoY to $129.6M, driven by strong loan and deposit growth, though net annualized charge-offs spiked to 1.09% from 0.11% a year ago due to two previously reserved CI loan charge-offs.
Key Financial Metrics
Key Facts
- GAAP diluted EPS $2.25 vs consensus $2.26 (in line)
- Net interest income $331.3M, up 13.8% YoY
- Net income $129.6M, up 15.4% YoY
- Net interest margin 4.64%, up 10 bps QoQ from 4.54%
- Net annualized charge-offs to average loans 1.09% vs 0.11% a year ago (driven by two previously reserved CI charge-offs)
- Ending loan balances $25.9B, up $316.6M in the quarter
- Total deposits $25.4B, up $847.8M from June 30, 2026
- Book value per share $57.92, up 17.5% YoY
- Company repurchased $14.0M of stock at avg $87.40 per share; $112.1M remaining authorization
- Non-performing assets to total assets improved to 0.51% from 0.64% a year ago
Financial Impact
EPS in line with consensus; net interest income growth of 13.8% YoY; net charge-offs elevated to 1.09% but attributed to two previously reserved loans
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Banking Business Segment | $365.6M | +22.0% |
| Securities Business Segment | $41.1M | +9.2% |
Risk Factors
- Elevated net charge-offs of 1.09% (annualized) vs 0.11% a year ago, though management says these were previously reserved
- Efficiency ratio increased to 49.46% from 48.32% a year ago
- Non-interest expense rose 25.1% YoY, partly due to acquisitions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001299709-26-000081 |
| Document: ax-20261029.htm | 0001299709-26-000081 |
| Document: septsupplement.htm | 0001299709-26-000081 |
| Document: 0001299709-26-000081-index-headers.html | 0001299709-26-000081 |
| Document: 0001299709-26-000081-index.html | 0001299709-26-000081 |
| Document: 0001299709-26-000081.txt | 0001299709-26-000081 |
| 8-K Data (Synthetic) | 0001299709-26-000081 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $92.91 | awaiting T+60 | awaiting T+60 | $90.38 (−2.72%) |
Sep 21, 2026 5w ago | 8-K | $89.13 | awaiting T+60 | awaiting T+60 | $90.38 (+1.40%) |
Jul 7, 2026 16w ago | 8-K | $98.48 $86.57 | ▼ −12.09% | ▼ −14.09% | $90.38 (−8.23%) |
May 4, 2026 25w ago | 8-K | $87.28 $98.18 | ▲ +12.49% | ▲ +10.63% | $90.38 (+3.55%) |
Apr 23, 2026 27w ago | 8-K | $97.67 $97.59 | ▼ −0.08% | ▼ −5.10% | $90.38 (−7.46%) |
US Market Status
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