FINW
Finwise Bancorp
Next earnings Jul 22, 2026 · consensus $0.24 EPS, $48.1M rev
Last earnings -2.4% on 2026-04-30
$14.56
▼ -0.75%$14.56▲ +2.10%
over 1Y
L $12.98H $22.49
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.7%
1W+0.1%
1M+0.8%
3M-8.6%
YTD-16.5%
1Y+2.1%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 9 analysts
Buy
Well-capitalized fintech-partner bank inflecting off a 3-year earnings trough, trading near book at ~13x — cheap enough to own.
Diluted EPS $1.13 · FY2025
The read
Quality fundamentals and an attractive price line up (~195% below fair value) — the rarer case where both the business and the entry look good.
FinWise is a small Utah BaaS bank whose earnings collapsed from $31.6M (FY2021) to a $12.7M trough (FY2024) as its Strategic Programs / third-party loan-origination model reset. FY2025 is the turn: net income rebounded +26.3% to $16.1M and diluted EPS +21.5% to $1.13, while total assets grew +31.0% to $977M and cash surged +49.7% to $163M. The valuation reflects the scar tissue, not the recovery — at $14.56 the stock trades at 12.9x earnings and roughly 1.0x book (equity $193M / 13.7M shares ≈ $14.09/share), so you are paying almost nothing for the re-acceleration.
The balance sheet is the anchor of the bull case. Liabilities/equity of 4.06x is exceptionally conservative for a bank (peers often run 8–10x), and equity still grew +11.2% with retained earnings +13.4% and zero buybacks — meaning capital is being retained, not returned. That low leverage plus a swelling cash pile is dry powder: if management re-levers the book and ROE normalizes off today's mediocre 8.3%, earnings power well above $16.1M is achievable without heroic assumptions. That optionality, bought at book value, is what tips this to a buy rather than a hold.
Is FINW a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread~60d expiry
- Long call 14.5 @ ~0.97 est
- Short call 16 @ ~0.41 est
debit $56max +$94max −$56BE 15.06
BUY verdict with defined risk: the short call finances part of the long one; max loss is the net debit.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $31.6M | $25.1M | $17.5M | $12.7M | $16.1M |
| Diluted EPS | $3.27 | $1.87 | $1.33 | $0.93 | $1.13 |
| Net margin | — | — | — | — | — |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.49
Earnings yield8.1%
FCF yield-14.4%
Quality & risk
ROIC (est.)—
Free cash flow-$28.6M
Total debt—
Net cash$163M
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+3.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K/A Amended 8-K2026-06-29
Amendment adding exhibits/financials to a prior 8-K
- 8-K Officer / director change2026-06-25
Annual meeting vote results plus a board/officer change (Item 5.02/5.07)
- 8-K Reg FD disclosure2026-05-21
Reg FD investor disclosure/presentation; no financial change
- 10-Q Quarterly report2026-05-12
Q1 2026 quarterly results; balance-sheet growth continues
- 8-K Earnings results2026-04-30
Q1 2026 earnings release furnished under Reg FD
- DEF 14A Proxy statement2026-04-28
Annual proxy: director elections and say-on-pay vote
- 8-K Officer / director change2026-04-08
Officer/director change (Item 5.02) plus Reg FD disclosure
- 8-K Reg FD disclosure2026-03-26
Reg FD disclosure, likely an investor presentation
- 10-K Annual report2026-03-23
FY2025 10-K: net income rebounds +26%, assets +31% to $977M
Recent filings
all on EDGAR ↗8-K/APeriod ending 2026-06-252026-06-29open ↗8-KPeriod ending 2026-06-252026-06-25open ↗4Period ending 2026-05-282026-06-01open ↗4Period ending 2026-05-282026-06-01open ↗4Period ending 2026-05-282026-06-01open ↗4Period ending 2026-05-282026-06-01open ↗4Period ending 2026-05-272026-05-28open ↗4Period ending 2026-05-272026-05-28open ↗4Period ending 2026-05-272026-05-28open ↗4Period ending 2026-05-272026-05-28open ↗4/APeriod ending 2026-03-312026-05-21open ↗8-KPeriod ending 2026-05-192026-05-21open ↗
Frequently asked
- Is Finwise Bancorp (FINW) a buy?
- FINW currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. Well-capitalized fintech-partner bank inflecting off a 3-year earnings trough, trading near book at ~13x — cheap enough to own.
- What is FINW's fair value?
- A Modified-Graham model based on FINW's SEC fundamentals estimates a fair value of about $42.94. It is an estimate from reported earnings, not a price target.
- Is FINW overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, FINW currently appears undervalued relative to its SEC-grounded earnings power.
- What is Finwise Bancorp's quality score?
- FINW scores 71.88200505764033/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001856365, latest 10-Q filed 2026-05-12) · EODHD · Proprietary analysis · as of 7/3/2026, 11:29:56 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 7:29 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.