NYSE:AX

Stock Analysis Report

Executive Summary

Axos Financial, Inc. operates as the holding company for Axos Bank that provides consumer and business banking products in the United States.


Snowflake Analysis

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has Axos Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

5.3%

AX

6.3%

US Mortgage

5.3%

US Market


1 Year Return

-39.4%

AX

-26.6%

US Mortgage

-10.7%

US Market

Return vs Industry: AX underperformed the US Mortgage industry which returned -26.6% over the past year.

Return vs Market: AX underperformed the US Market which returned -10.7% over the past year.


Shareholder returns

AXIndustryMarket
7 Day5.3%6.3%5.3%
30 Day-30.1%-26.5%-13.6%
90 Day-39.6%-34.1%-19.8%
1 Year-39.4%-39.4%-24.8%-26.6%-8.9%-10.7%
3 Year-25.4%-25.4%-18.0%-23.8%15.5%8.0%
5 Year-19.0%-19.0%2.8%-8.7%35.2%20.4%

Price Volatility Vs. Market

How volatile is Axos Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Axos Financial undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AX ($18.13) is trading below our estimate of fair value ($53.38)

Significantly Below Fair Value: AX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AX is good value based on its PE Ratio (6.9x) compared to the Mortgage industry average (10.5x).

PE vs Market: AX is good value based on its PE Ratio (6.9x) compared to the US market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: AX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: AX is overvalued based on its PB Ratio (1x) compared to the US Mortgage industry average (0.8x).


Next Steps

Future Growth

How is Axos Financial forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-0.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AX's earnings are forecast to decline over the next 3 years (-0.3% per year).

Earnings vs Market: AX's earnings are forecast to decline over the next 3 years (-0.3% per year).

High Growth Earnings: AX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: AX's revenue (4.1% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: AX's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Axos Financial performed over the past 5 years?

14.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AX has high quality earnings.

Growing Profit Margin: AX's current net profit margins (32%) are lower than last year (38.1%).


Past Earnings Growth Analysis

Earnings Trend: AX's earnings have grown by 14.4% per year over the past 5 years.

Accelerating Growth: AX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AX had negative earnings growth (-1.5%) over the past year, making it difficult to compare to the Mortgage industry average (11.1%).


Return on Equity

High ROE: AX's Return on Equity (13.9%) is considered low.


Next Steps

Financial Health

How is Axos Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: AX has a low level of unsold assets or inventory.

Debt Coverage by Assets: AX's debt is covered by short term assets (assets are 2x debt).


Financial Institutions Analysis

Asset Level: AX's level of assets compared to its equity is moderate.

Allowance for Bad Loans: AX has a sufficient allowance for bad loans.

Low Risk Liabilities: AX's liabilities are made up of primarily low risk sources of funding.

Loan Level: AX has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AX's loans are broadly funded by customer deposits.

Level of Bad Loans: AX has an appropriate level of bad loans (0.5%)


Next Steps

Dividend

What is Axos Financial's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate AX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.3yrs

Average management tenure


CEO

Greg Garrabrants (47yo)

12.5s

Tenure

US$4,798,326

Compensation

Mr. Gregory Garrabrants, also known as Greg, has been the President and Chief Executive Officer of Axos Financial, Inc. (formerly, BofI Holding, Inc.) and Axos Bank since October 2007 and as its Member of  ...


CEO Compensation Analysis

Compensation vs Market: Greg's total compensation ($USD4.80M) is above average for companies of similar size in the US market ($USD3.17M).

Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Gregory Garrabrants
President12.5yrsUS$4.80m2.35% $26.1m
Andrew Micheletti
Executive VP & CFO19yrsUS$1.70m0.88% $9.8m
Eshel Bar-Adon
Executive VP of Specialty Finance & Chief Legal Officer9.25yrsUS$1.08m0.16% $1.8m
Brian Swanson
Executive VP & Head of Consumer Bankno dataUS$1.11m0.036% $401.3k
Raymond Matsumoto
Executive VP & COO2.25yrsno data0.0048% $53.2k
Derrick Walsh
Senior VP & Chief Accounting Officer5.17yrsno data0.023% $251.6k
Johnny Lai
Vice President of Corporate Development & Investor Relations5.25yrsno datano data
John Tolla
Executive VPno datano data0.016% $178.7k
Jan Durrans
Executive VPno datano datano data
Craig Cross
Chief Operating Officer of 1st Mortgage Lendingno dataUS$223.52kno data

7.3yrs

Average Tenure

62yo

Average Age

Experienced Management: AX's management team is seasoned and experienced (7.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gregory Garrabrants
President12.5yrsUS$4.80m2.35% $26.1m
Paul Grinberg
Independent Chairman of the Board3.17yrsUS$997.01k0.19% $2.1m
James Black
Independent Director2.5yrsUS$325.92k0.012% $137.5k
Nicholas Mosich
Independent Vice Chairman of the Board9.5yrsUS$429.65k0.15% $1.7m
Edward Ratinoff
Independent Director10yrsUS$325.92k0.061% $680.9k
Uzair Dada
Independent Director5.25yrsUS$325.92k0.022% $242.9k
Tamara Bohlig
Independent Director0.67yrno datano data
James Court
Independent Director9yrsUS$366.91k0.060% $669.8k
James Argalas
Independent Director8.67yrsUS$325.92k0.096% $1.1m

8.7yrs

Average Tenure

51yo

Average Age

Experienced Board: AX's board of directors are considered experienced (8.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Axos Financial, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Axos Financial, Inc.
  • Ticker: AX
  • Exchange: NYSE
  • Founded: 1999
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$1.112b
  • Shares outstanding: 61.35m
  • Website: https://axosfinancial.com

Number of Employees


Location

  • Axos Financial, Inc.
  • 9205 West Russell Road
  • Suite 400
  • Las Vegas
  • Nevada
  • 89148
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AXNYSE (New York Stock Exchange)YesCommon StockUSUSDMar 2005
BB4DB (Deutsche Boerse AG)YesCommon StockDEEURMar 2005
BB4BST (Boerse-Stuttgart)YesCommon StockDEEURMar 2005
0HKSLSE (London Stock Exchange)YesCommon StockGBUSDMar 2005

Biography

Axos Financial, Inc. operates as the holding company for Axos Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, and money market accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured loans; automobile and RV secured loans; factoring loans; commercial and industrial loans and leases; and other loans, such as unsecured consumer loans, and other small balance business and consumer loans. In addition, the company offers commercial lending, specialty finance factoring, and overdraft lines of credit, as well as fixed rate term unsecured loans to individual borrowers. Further, it provides prepaid card and refund transfer, debit card or ATM card, portfolio management, online bill payment, money transfer, overdraft protection, online and mobile banking, and text message banking services. Additionally, the company offers concierge banking services, bankruptcy and non-bankruptcy trustee and fiduciary services, mobile deposit services, peer to peer payment services, interbank transfer services, digital wallets, securities clearing services, and digital investment advisory services, as well as introduces broker-dealers and registered investment advisor correspondents. The company was formerly known as BofI Holding, Inc. and changed its name to Axos Financial, Inc. in September 2018. Axos Financial, Inc. was incorporated in 1999 and is headquartered in Las Vegas, Nevada. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 08:06
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.