Bread Financial (BFH) financial statements
Bread Financial reported revenue of $3.8B in fiscal 2025, down 6.6% a year over 9 years.
Net income was $518M.
The diluted share count fell 19% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Bread Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1B | $5.5B | $5.7B | $5.6B | $4.5B | $3.3B | $3.8B | $4.3B | $3.8B | $3.8B |
| Cost of revenue | $4.3B | $2.5B | $2.5B | $2.7B | $2.1B | — | — | — | — | — |
| Gross profit | $2.9B | $3.0B | $3.1B | $2.9B | $2.4B | — | — | — | — | — |
| Selling, general and admin | $143M | $159M | $162M | $356M | $249M | — | — | — | — | — |
| Operating income | $1.3B | $1.5B | $1.8B | $1.3B | $888M | — | — | — | — | — |
| Interest expense | $428M | $455M | $542M | $638M | $499M | $383M | $503M | $879M | — | — |
| Pre-tax income | $837M | $1.1B | $1.2B | $662M | $301M | $1.0B | $300M | $968M | $381M | $615M |
| Income tax | $319M | $293M | $270M | $156M | $93M | $247M | $76M | $231M | $102M | $94M |
| Net income | $516M | $789M | $963M | $278M | $214M | $801M | $223M | $718M | $277M | $518M |
| EPS (diluted) | $7.34 | $14.10 | $17.49 | $5.46 | $4.46 | $16.02 | $4.46 | $14.34 | $5.49 | $10.89 |
| Diluted shares | 59M | 56M | 55M | 51M | 48M | 50M | 50M | 50M | 50M | 48M |
| Gross margin | 40.1% | 54.9% | 55.2% | 51.8% | 54.1% | — | — | — | — | — |
| Operating margin | 17.7% | 27.7% | 31.0% | 23.4% | 19.6% | — | — | — | — | — |
| Net margin | 7.2% | 14.4% | 17.0% | 5.0% | 4.7% | 24.5% | 5.8% | 16.7% | 7.2% | 13.5% |
Balance sheet
Fiscal years, from Bread Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.9B | $4.2B | $3.8B | $3.9B | $2.8B | $3.1B | $4.0B | $3.8B | $4.0B | $3.6B |
| Receivables | $797M | $822M | $404M | $451M | $384M | — | — | — | — | — |
| Inventory | $271M | $234M | $248M | $218M | $164M | — | — | — | — | — |
| Total current assets | $19.6B | $24.7B | $24.7B | $24.1B | $19.6B | — | — | — | — | — |
| Property, plant and equipment | $586M | $614M | $288M | $282M | $213M | $215M | $195M | $167M | $142M | $117M |
| Goodwill | $3.8B | $993M | $955M | $955M | $1.4B | $634M | $634M | $634M | $634M | $634M |
| Total assets | $25.5B | $30.7B | $30.4B | $26.5B | $22.5B | $21.7B | $25.4B | $23.1B | $22.9B | $22.7B |
| Total current liabilities | $9.2B | $10.1B | $11.5B | $11.9B | $10.4B | — | — | — | — | — |
| Long-term debt | $4.8B | $5.9B | $5.6B | — | — | — | — | — | — | — |
| Total liabilities | $23.9B | $28.8B | $28.1B | $24.9B | $21.0B | $19.7B | $23.1B | $20.2B | $19.8B | $19.3B |
| Shareholders' equity | $1.7B | $1.9B | $2.3B | $1.6B | $1.5B | $2.1B | $2.3B | $2.9B | $3.1B | $3.3B |
| Net debt | $3.7B | $1.9B | $1.9B | -$3.9B | -$2.8B | -$3.0B | -$3.9B | -$3.6B | -$3.7B | -$3.6B |
Cash flow
Fiscal years, from Bread Financial's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.1B | $2.6B | $2.8B | $1.2B | $1.9B | $1.5B | $1.8B | $2.0B | $1.9B | $2.1B |
| Capital spending | $207M | $225M | $200M | $142M | $54M | $84M | $68M | — | — | — |
| Free cash flow | $1.9B | $2.4B | $2.6B | $1.1B | $1.8B | $1.5B | $1.8B | — | — | — |
| Stock-based compensation | $76M | $75M | $81M | $55M | $21M | $29M | $33M | $44M | $54M | $56M |
| Dividends paid | $30M | $116M | $125M | $127M | $61M | $42M | $43M | $42M | $43M | $40M |
| Share buybacks (net) | -$799M | -$554M | -$443M | -$976M | — | $0 | -$12M | -$35M | -$55M | -$313M |
| Net borrowing | $601M | $355M | -$318M | — | -$494M | — | — | -$500M | — | — |
| Free cash flow margin | 26.9% | 43.4% | 45.1% | 19.3% | 40.5% | 44.6% | 46.5% | — | — | — |
| Dividends per share | $0.51 | $2.07 | $2.27 | $2.50 | $1.27 | $0.84 | $0.86 | $0.84 | $0.85 | $0.84 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for BFH.
Open BFH in InvestinglyQuestions
What was Bread Financial's revenue in 2025?
$3.8B in fiscal 2025, from its 10-K filing.
From Bread Financial's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.