Axos Financial, Inc.
- Open
- 97.24
- Day high
- 98.09
- Day low
- 96.21
- Prev close
- 97.85
- Volume
- 287K
- Mkt cap
- $5.5B
- P/E (TTM)
- 11.2
- EPS (TTM)
- $8.66
- P/B
- 1.7
- P/S
- 2.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$229K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Axos Financial, Inc. (AX) is a Financial Services company listed on NYSE. The stock is up 7% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering AX.
Axos Financial, Inc. (AX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $2.16 | $2.20 | +1.9% | $380M | +1.1% |
| Apr 30, 2026 | $2.13 | $1.90 | -10.8% | $392M | +5.3% |
| Jan 29, 2026 | $2.07 | $2.25 | +8.7% | $381M | +10.2% |
| Oct 30, 2025 | $1.86 | $2.07 | +11.3% | $319M | -4.9% |
| Jul 30, 2025 | $1.82 | $1.94 | +6.6% | $317M | -1.1% |
| Apr 30, 2025 | $1.74 | $1.81 | +4.0% | $305M | -0.1% |
| Jan 28, 2025 | $1.75 | $1.82 | +4.0% | $304M | +0.5% |
| Oct 30, 2024 | $1.78 | $1.93 | +8.4% | $316M | +6.0% |
| Jan 30, 2024 | $1.40 | $1.60 | +14.3% | $254M | +2.1% |
| Oct 26, 2023 | $1.36 | $1.38 | +1.6% | $242M | +0.4% |
| Jul 27, 2023 | $1.27 | $1.46 | +15.2% | $233M | +1.8% |
| Apr 27, 2023 | $1.20 | $1.32 | +10.1% | $228M | -0.3% |
AX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 7, 2026 | Santi Roque Adirector | Sell | 500 | $105.30 |
| Jul 1, 2026 | Garrabrants Gregorydirector, officer: President and CEO | Grant | 202,032 | $97.39 |
| Jul 1, 2026 | Garrabrants Gregorydirector, officer: President and CEO | Option | 202,032 | — |
| Jun 9, 2026 | Constantine Thomas Mother: EVP, Chief Credit Officer | Sell | 1,994 | $88.55 |
| May 21, 2026 | Watson Michael Jamesother: EVP, Head of Axos Securities | Sell | 1,653 | $83.77 |
| May 12, 2026 | Santi Roque Adirector | Sell | 500 | $87.77 |
| Mar 24, 2026 | Walsh Derrickofficer: EVP, Chief Financial Officer | Option | 1,360 | $82.93 |
| Mar 24, 2026 | Tolla John Charlesofficer: EVP, Chief Risk Officer | Option | 1,177 | $82.93 |
| Mar 24, 2026 | Swanson Brian Dofficer: President, Consumer Bank | Option | 2,943 | $82.93 |
| Mar 24, 2026 | Swanson Brian Dofficer: President, Consumer Bank | Option | 1,177 | $82.93 |
| Mar 24, 2026 | Watson Michael Jamesofficer: EVP, Head of Axos Securities | Option | 983 | $82.93 |
| Mar 24, 2026 | MATSUMOTO RAYMOND Dofficer: EVP, Chief Operating Officer | Option | 1,621 | $82.93 |
| Mar 24, 2026 | Crow David Mofficer: EVP, Head of Clearing | Option | 583 | $82.93 |
| Mar 24, 2026 | THIELE CANDACE Lofficer: EVP, Chief Administrative Offi | Option | 444 | $82.93 |
| Mar 24, 2026 | GILL ANNofficer: SVP, Chief Accounting Officer | Option | 601 | $82.93 |
Source: AX SEC Form 4 filings, latest Aug 7, 2026. For informational purposes only — not investment advice.
See the full AX insider & 13F page →Axos Financial, Inc. company profile
Overview
Axos Financial, Inc. (NYSE:AX) is a digital-first financial services company that operates primarily through its online banking platform and securities business. Founded in 1999 and originally known as BofI Holding, Inc., the company rebranded to Axos Financial in 2018 to better reflect its technology-focused approach to banking. Based in Las Vegas, Nevada, Axos has grown from a small internet bank into a diversified financial services provider serving both consumer and business customers across the United States. The company went public in 2005 and has built its reputation on leveraging technology to deliver banking services more efficiently than traditional brick-and-mortar institutions.
Business
Axos Financial operates as a digital banking and financial services company with two primary business segments. The Banking Business segment, which generates the majority of revenue, provides a comprehensive suite of deposit and lending products to consumers and businesses. This includes checking and savings accounts, money market accounts, certificates of deposit, and various loan products including single-family and multifamily mortgages, commercial real estate loans, commercial and industrial loans, auto loans, and asset-backed financing. The company's lending portfolio is notably diverse, with approximately 69% consisting of floating-rate loans, 25% hybrid adjustable-rate mortgages (ARMs), and 6% fixed-rate loans. A significant portion of their commercial lending focuses on Commercial Real Estate Specialty Loans (CRESL), totaling $5.1 billion, with 37% in multifamily properties and 21% in hotel and retail properties, maintaining conservative loan-to-value ratios averaging 40%. The Securities Business segment operates through Axos Clearing and provides back-office services to independent broker-dealers and registered investment advisors. These services include trade clearing, custody services, margin lending, record keeping, and regulatory reporting. The company also offers Axos Advisory Services, providing wealth management solutions, and is developing proprietary clearing technology called Axos Universal Core. Based on recent financial reports, the Banking Business generates approximately 95% of total revenue, while the Securities Business contributes roughly 5% of revenues but represents a growing strategic focus for the company.
Revenue model
Axos Financial generates revenue through multiple streams within its banking and securities operations. The primary revenue driver is net interest income, which accounted for approximately $275-280 million per quarter in recent periods. This income comes from the spread between interest earned on loans and interest paid on deposits. The company's asset-sensitive balance sheet benefits from rising interest rate environments, as a majority of their loan portfolio consists of floating-rate or adjustable-rate products. Fee-based income represents the secondary revenue stream, generated through various banking services including account fees, loan origination fees, and wealth management services. The Securities Business generates revenue through clearing fees, custody fees, and advisory services charged to broker-dealers and registered investment advisors. The company's profitability is influenced by several key factors. Interest rate movements significantly impact margins, with rising rates generally benefiting the company due to their asset-sensitive position. Credit quality affects profitability through provision expenses, though Axos maintains conservative underwriting standards with low historical charge-off rates of 5-17 basis points annually. Deposit costs represent a major expense component, and the company's ability to attract and retain lower-cost deposits directly impacts net interest margins. Operational efficiency is crucial, as the company's digital-first model allows for lower overhead costs compared to traditional banks, though continued technology investments are necessary to maintain competitive advantages. Loan growth drives revenue expansion, with management targeting high single-digit to low double-digit annual loan growth rates.
Competitive moat
Axos Financial's competitive moat is moderate but growing, primarily built around its technology infrastructure and operational efficiency. The company's digital-first approach allows it to operate with significantly lower overhead costs than traditional brick-and-mortar banks, enabling competitive pricing on both deposits and loans. This cost advantage creates a sustainable competitive position in an industry where many incumbents struggle with legacy infrastructure and high branch network costs. The company's specialized lending expertise in areas such as asset-based lending, lender finance, and commercial real estate provides some differentiation, particularly in serving niche markets that larger banks may find less attractive. Their development of proprietary technology platforms, including the Universal Digital Bank 2.0 and Axos Universal Core clearing system, could strengthen their moat by creating switching costs for customers and reducing dependence on third-party vendors. However, the moat faces several challenges. The digital banking space is increasingly competitive, with both fintech startups and established banks investing heavily in technology. Large banks have significant resources to replicate Axos's digital capabilities, while fintech companies may offer more innovative solutions. The company's reliance on wholesale funding markets and rate-sensitive deposits makes it vulnerable to funding cost pressures during periods of monetary tightening. Additionally, as a smaller regional bank with approximately $24 billion in assets, Axos lacks the scale advantages of money center banks and may face regulatory constraints that limit growth opportunities. The banking industry's regulatory environment also creates barriers to entry that protect existing players but can limit innovation and expansion strategies.
Risks & safety
Axos Financial demonstrates a strong margin of safety with robust capital position and conservative risk management practices. • Capital and Liquidity: Tier 1 leverage ratio of 9.7% at the bank level, well above regulatory minimums. Cash and short-term investments of approximately $2.0-2.4 billion provide substantial liquidity buffer. • Credit Quality: Exceptionally low net charge-off rates of 5-17 basis points annually, significantly below industry averages. Conservative underwriting with average loan-to-value ratios of 40% on commercial real estate portfolio. • Profitability Metrics: Strong return on equity of 18-19%, demonstrating efficient capital utilization. Price-to-earnings ratio of 7-9x indicates reasonable valuation relative to earnings power. • Balance Sheet Strength: Debt-to-equity ratio of 0.16-0.24, indicating minimal leverage. Strong deposit base of $19-20 billion with 95% in stable demand, money market, and savings accounts. • Operational Efficiency: Efficiency ratio in the mid-50% range, demonstrating effective cost management relative to revenue generation. • Growth Trajectory: Consistent loan growth of 6-17% annually with disciplined underwriting standards maintained throughout expansion.
Recent development
Over the past few years, Axos Financial has pursued several strategic initiatives to diversify revenue streams and enhance technological capabilities. The company has made significant investments in proprietary technology development, including the Universal Digital Bank 2.0 platform for consumer banking and the development of Axos Universal Core, a proprietary securities clearing system designed to reduce dependence on third-party providers and improve margins in their securities business. The company has expanded its commercial lending capabilities by adding specialized teams in treasury management, asset-based lending, lender finance, and middle-market lending. They've also entered new verticals including technology, life sciences, and fund finance, diversifying their loan portfolio beyond traditional real estate lending. Management has strategically reduced exposure to certain segments like auto lending and select real estate-backed loans while growing higher-margin commercial and industrial lending. In the securities business, Axos has been developing a white-label banking platform specifically designed for registered investment advisors, aiming to capture deposits and provide comprehensive banking services to the wealth management industry. The company has also been exploring artificial intelligence applications across various business functions, from customer service chatbots to development tools and marketing applications. Capital allocation strategy has included opportunistic share repurchases totaling approximately $58 million in recent quarters, while maintaining focus on organic growth opportunities. The company has expressed interest in strategic acquisitions, particularly in specialty finance, wealth management, and technology-enabled financial services companies, though they remain disciplined about pricing and strategic fit.
AX company profile · for informational purposes only — not investment advice.
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