NewtekOne, Inc.
Description
NewtekOne, Inc. operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans. It is also involved in the provision of electronic payment processing services comprising credit and debit card processing services, check approval services, processing equipment, and software, as well as cloud-based Point of Sale systems for a various restaurant, retail, assisted living, taxi cabs, parks, and golf course businesses. In addition, it offers wholesale brokerage insurance agency services; and payroll management, and related payment and tax reporting services to independent business owners. Further, the company provides website hosting, dedicated server hosting, cloud hosting, web design and development, internet marketing, ecommerce, data storage, backup and disaster recovery, and other related services, including consulting and implementing technology solutions for enterprise and commercial clients as well as SMBs. The company was formerly known as Newtek Business Services Corp. and changed its name to NewtekOne, Inc. in January 2023. NewtekOne, Inc. was founded in 1998 and is headquartered in Boca Raton, Florida.
About
CEO
Mr. Barry Scott Sloane
Employees
570
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNMS
Address
4800 T-Rex Avenue, Boca Raton, FL 33431, United States
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Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 4, 2025 | — | — | — | — |
| Aug 4, 2025 | — | — | — | — |
| May 5, 2025 | — | — | — | — |
| Feb 27, 2025 | 0.65 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 4 | — | 5 |
| Average estimate | — | 0.39 | — | 2.14 |
| Low estimate | — | 0.35 | — | 2.05 |
| High estimate | — | 0.43 | — | 2.23 |
| Last year EPS | — | 0.38 | — | 1.93 |
[stock_revenue_estimate]
Growth estimates
Current qtr
53.490%
Next qtr. (Mar 2025)
1.970%
Current year
2.450%
Next year (Dec 2025)
11.210%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | — | 105.17M | 147.76M | 74.96M | 88.79M |
| Cost of revenue | — | — | — | — | 14.31M |
| Gross profit | — | — | — | — | 44.99M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | — | 27.86M | 25.32M | 9.39M | 10.23M |
| Other operating expenses | — | 31.16M | 31.06M | 18.34M | 19.45M |
| Operating income | — | — | — | — | 11.93M |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | 20.42M |
| Other income expense | — | — | — | — | 49.63M |
| Pretax income | — | 38.78M | 85.47M | 32.62M | 44.30M |
| Tax provision | — | 6.46M | 1.33M | -999,000 | 3.16M |
| Net income | — | 32.31M | 84.14M | 33.62M | 41.14M |
| Basic EPS | 1.89 | 1.34 | 3.69 | 1.59 | 2.13 |
| Diluted EPS | 1.88 | 1.34 | 3.69 | 1.59 | 2.13 |
| Basic average shares | 24.26M | 24.20M | 22.80M | 21.15M | 19.33M |
| Diluted average shares | 24.26M | 24.20M | 22.80M | 21.15M | 19.33M |
| EBITDA | — | — | — | — | 14.82M |
| Net income from continuing op. | — | 32.31M | 84.14M | 33.62M | 41.14M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | 797.41M |
| Current assets | |||||
| Cash | — | 53.69M | 2.40M | 2.07M | 1.76M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | — | 53.69M | 2.40M | 2.07M | 1.76M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | — | — | — | — | 51.17M |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | 31.45M |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | 7.99M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | — | 283.60M | 758.79M | 671.19M | 659.04M |
| Other non current assets | — | — | — | — | 18.61M |
| Total liabilities | — | — | — | — | 475.19M |
| Current liabilities | |||||
| Accounts payable | — | — | — | 27.61M | 20.82M |
| Accrued expenses | — | — | — | — | 3.54M |
| Short term debt | 61.26M | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 589.81M | 453.51M | 481.11M | 460.48M | 441.83M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | 12.41M |
| Derivative product liabilities | — | — | 183,000 | — | — |
| Other non current liabilities | — | — | — | — | 3.10M |
| Shareholders equity | |||||
| Common stock | — | 492,000 | 483,000 | 439,000 | 411,000 |
| Retained earnings | — | 20.62M | 35.74M | 22.29M | 31.85M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | — | 375.36M | 403.89M | 339.35M | 322.23M |
| Additional paid in capital | — | 354.24M | 367.66M | 316.63M | 289.96M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||||||||
| Net Income | — | 32.31M | 84.14M | 33.62M | 41.14M | 35.68M | 38.98M | 27.31M | 35.74M | 7.15M | 5.56M | 3.22M | 1.30M | -1.41M | -11.02M | -11.22M | -2.12M | 7.73M | 10.62M | 9.38M | 4.56M | 929,560 | -3.43M | 5.43M |
| Depreciation | — | — | — | — | 501,000 | 484,000 | 402,000 | 296,000 | 326,000 | 3.28M | 3.04M | 3.96M | 4.71M | 5.85M | 7.58M | 7.36M | 6.37M | 4.55M | 2.46M | 484,484 | 147,681 | 74,054 | 6,151 | 2,273 |
| Deferred Taxes | — | — | — | — | 3.16M | 1.08M | 2.18M | 5.13M | 825,000 | -1.40M | -2.77M | -4.26M | -3.01M | -1.71M | -2.98M | -6.55M | -613,000 | 6.79M | 6.47M | 7.09M | 2.66M | 534,616 | 787,236 | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | — | -36.27M | -76.63M | 3.82M | 10.35M | 11.17M | 8.82M | 10.11M | 3.26M | 2.48M | -533,000 | -726,000 | 2.31M | 784,000 | 1.84M | 322,000 | -3.67M | -14.92M | -16.75M | -31.41M | -17.19M | -7.56M | -746,455 | -6.10M |
| Accounts Receivable | — | 44.54M | 8.19M | -1.56M | -8.56M | -34.08M | -6.14M | 29.68M | -32.08M | 1.81M | -14.55M | 6.64M | -10.57M | -5.97M | -1.72M | 3.61M | 3.62M | -1.60M | -1.69M | 627,389 | 258,252 | 1.19M | -4.21M | — |
| Accounts Payable | — | — | — | — | — | — | — | — | — | 3.72M | — | 2.54M | — | -1.15M | -514,000 | -1.41M | -656,000 | -1.48M | -1.76M | 1.85M | -376,122 | -1.01M | 1.09M | — |
| Other Assets & Liabilities | -165,000 | 7.38M | 2.20M | -11.20M | -81.33M | -60.58M | -65.54M | -64.12M | 190.72M | -11.06M | -4.66M | -40.63M | 35.02M | 4.94M | -5.79M | 5.37M | 4.84M | 5.29M | 2.64M | -1.77M | -331,379 | -1.19M | 4.21M | — |
| Operating Cash Flow | -165,000 | 47.96M | 17.91M | 24.68M | -34.74M | -46.25M | -21.30M | 8.40M | 198.78M | 5.98M | -13.92M | -29.27M | 29.75M | 1.33M | -12.61M | -2.51M | 7.77M | 6.36M | 1.98M | -13.75M | -10.27M | -7.02M | -2.29M | -672,962 |
| Investing Activities | ||||||||||||||||||||||||
| Capital Expenditures | — | -11,000 | — | -10,000 | -126,000 | -627,000 | -446,000 | -375,000 | -105,000 | -2.03M | -3.06M | -1.50M | -2.08M | -1.76M | -3.50M | -6.39M | -5.63M | -3.83M | -1.59M | -323,905 | 69,332 | -107,361 | -28,898 | — |
| Net Intangibles | — | — | — | — | — | — | — | — | 407,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | 1.53M | -1.42M | 242,000 | 238,000 | 2.09M | -572,000 | 3.60M | -391,000 | -1.67M | -11.33M | -8.01M | -8.42M | -24.59M | -14.29M | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | -42.89M | -24.19M | -22.27M | -8.24M | -2.11M | -7.15M | -10.32M | -9.69M | -34.35M | — | -6.42M | — | -489,500 | -981,432 | -8.13M |
| Sale of Investments | — | — | — | — | — | — | — | — | — | 7.41M | 5.00M | 4.67M | 3.21M | 4.01M | 5.44M | 14.19M | 28.96M | 15.59M | 32.62M | 1.92M | 8.74M | 12.07M | 5.65M | 250,000 |
| Investing Cash Flow | — | -11,000 | — | -10,000 | -126,000 | -627,000 | -446,000 | -375,000 | 302,000 | -36.12M | -22.50M | -17.81M | -6.34M | 3.40M | -1.53M | 1.82M | 18.41M | -18.72M | -4.76M | 2.70M | 9.27M | -1.98M | -9.65M | -7.88M |
| Financing Activities | ||||||||||||||||||||||||
| Long-Term Debt Issuance | — | 152.10M | 243.43M | 73.27M | 182.17M | 210.59M | 81.03M | 93.69M | 46.00M | 46.79M | 28.39M | 14.55M | 27.01M | — | 3.20M | 5.07M | 209,000 | 61.46M | 29.48M | 6.66M | 30.48M | 5.78M | 56.26M | 72.82M |
| Long-Term Debt Payments | — | -97.82M | -221.91M | -54.89M | -80.21M | -94.19M | -36.14M | -52.63M | -33.92M | -7.94M | -4.98M | -3.24M | -16.15M | -9.70M | — | -2.57M | -17.14M | -41.19M | -35.03M | -7.49M | -21.98M | -1.66M | -35.04M | -41.39M |
| Other Financing Charges | — | -3.38M | -6.87M | -48,000 | -93,000 | -109,000 | -667,000 | -14,000 | -6.71M | -7.56M | 8.68M | -4.07M | -4.52M | -373,000 | -193,000 | 1.69M | -348,000 | 389,000 | 645,000 | -2.09M | 50,500 | -519,300 | 1.52M | 2.98M |
| Financing Cash Flow | — | -11.63M | -5.49M | 1.32M | 94.75M | 89.06M | 72.69M | 12.89M | 25.55M | 32.74M | 31.13M | 8.26M | 3.24M | -20.50M | 2.55M | 3.81M | -17.34M | 19.66M | 17.93M | 1.55M | 10.64M | 4.29M | 25.39M | 34.16M |
| Other Cash Details | ||||||||||||||||||||||||
| End Cash Position | — | 125.61M | 186.86M | 51.43M | 33.21M | 31.35M | 20.54M | 22.90M | 4.31M | 12.51M | 14.23M | 11.20M | 10.38M | 12.58M | 16.85M | 25.37M | 26.69M | 23.94M | 29.54M | 33.44M | 41.17M | 31.17M | 34.70M | 25.45M |
| Income Tax Paid | — | — | — | — | — | — | — | — | — | 5.78M | 5.40M | 1.28M | 388,000 | 752,000 | 289,000 | 907,000 | — | — | — | — | — | — | — | — |
| Interest Paid | — | — | — | — | — | 13.94M | 10.00M | 6.69M | 4.62M | 3.99M | 2.84M | 1.35M | 1.29M | 1.29M | 1.63M | 2.44M | — | — | — | — | — | — | — | — |
| Free Cash Flow | — | -62.43M | 140.92M | 17.75M | -89.08M | -74.29M | -73.38M | -14.47M | -38.06M | 2.94M | -7.41M | 9.91M | -4.28M | 1.36M | -13.04M | -8.40M | -3.75M | -9.67M | -7.17M | -12.30M | -10.19M | -5.94M | -6.53M | -2.40M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 849,108 | 11.02M | 3.23% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 736,988 | 9.57M | 2.80% |
| Royce Micro Cap Trust | Sep 30, 2024 | 413,748 | 5.37M | 1.57% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 394,307 | 5.12M | 1.50% |
| Royce Small Cap Trust, Inc. | Sep 30, 2024 | 314,894 | 4.09M | 1.20% |
| iShares Russell 2000 Value ETF | Nov 30, 2024 | 235,901 | 3.06M | 0.90% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 237,819 | 3.09M | 0.90% |
| Fidelity Extended Market Index Fund | Nov 30, 2024 | 134,473 | 1.75M | 0.51% |
| Schwab Strategic Tr-Schwab U.S. Small Cap ETF | Nov 30, 2024 | 117,337 | 1.52M | 0.45% |
| Vanguard Russell 2000 Index Fund | Nov 30, 2024 | 108,464 | 1.41M | 0.41% |
Article
What Makes NewtekOne (NEWT) a New Buy Stock
NewtekOne (NEWT) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Jan 7, 2025
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NewtekOne: Bank Conversion Progressing Well
NewtekOne's business model involves issuing loans, selling guaranteed portions, and securitizing unguaranteed portions, generating revenue via a high-risk, high-reward business model. Despite consistent 10% annual loan issuance growth, NewtekOne's valuation remains low at 7.5 P/E due to its unique business model and economic risk exposures. Transitioning to a bank holding company aims to reduce reliance on expensive notes and bonds, to leverage deposits to improve interest margins.
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NewtekOne, Inc. (NEWT) Mergers & Acquisitions Call Transcript
NewtekOne, Inc. (NASDAQ:NEWT ) Mergers & Acquisitions Conference Call January 2, 2025 4:15 PM ET Company Participants Barry Sloane - CEO and Chairman Jason Katz - CEO and Chairman, Paltalk IPM Conference Call Participants Harold Elish - UBS Financial Services Crispin Love - Piper Sandler Steve Moss - Raymond James Allen Klee - Maxim Group Christopher Nolan - Landenburg Thalmann & Company Bryce Rowe - B. Riley Nicholas Bruno - Raymond James Tim Switzer - KBW Operator Good day, and thank you for standing by.
Jan 3, 2025
