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Credit services · Financial Services · Fiscal year ends Dec 31
Bread Financial reported revenue of $3.8B in the fiscal year ended Dec 2025, up 0.2% from the year before. Net income was $518M. Net debt was $704M.
Ranks among the 35 credit services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 3,272 | 3,826 | 4,289 | 3,838 | 3,845 |
| Net interest incomeBanks | 3,485 | 4,181 | 4,266 | 4,064 | 4,058 |
| Interest expense | 383 | 503 | 879 | 960 | 854 |
| Pre-tax income | 1,044 | 300 | 968 | 381 | 615 |
| Income tax | 247 | 76.0 | 231 | 102 | 94.0 |
| Net income | 801 | 223 | 718 | 277 | 518 |
| Diluted EPS | 16.02 | 4.46 | 14.34 | 5.49 | 10.89 |
| Diluted shares | 50.0 | 50.0 | 50.0 | 50.4 | 47.6 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 3,046 | 3,891 | 3,590 | 3,679 | 3,604 |
| Net PP&E | 215 | 195 | 167 | 142 | 117 |
| Goodwill | 634 | 634 | 634 | 634 | 634 |
| Total assets | 21,746 | 25,407 | 23,141 | 22,891 | 22,663 |
| Long-term debt | 7,439 | 8,007 | 5,292 | 5,557 | 4,308 |
| DepositsBanks | 11,027 | 13,826 | 13,620 | 13,082 | 13,916 |
| Total liabilities | 19,660 | 23,142 | 20,223 | 19,840 | 19,336 |
| Shareholders' equity | 2,086 | 2,265 | 2,918 | 3,051 | 3,327 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,543 | 1,848 | 1,987 | 1,859 | 2,092 |
| Capital expenditure | 84.0 | 68.0 | – | – | – |
| Free cash flow | 1,459 | 1,780 | – | – | – |
| Depreciation & amortisation | 123 | 113 | 116 | 90.0 | 80.0 |
| Stock-based compensation | 29.0 | 33.0 | 44.0 | 54.0 | 56.0 |
| Acquisitions | 75.0 | 0.0 | 0.0 | – | – |
| Share buybacks | 0.0 | 12.0 | 35.0 | 55.0 | 313 |
| Dividends paid | 42.0 | 43.0 | 42.0 | 43.0 | 40.0 |
| Dividend per share | 0.84 | 0.84 | 0.84 | 0.84 | 0.86 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 16.9% | 12.1% | −10.5% | 0.2% |
| EPS growth (YoY) | – | −72.2% | 221.5% | −61.7% | 98.4% |
| Net margin | 24.5% | 5.8% | 16.7% | 7.2% | 13.5% |
| Return on equityBlank when equity is negative | 38.4% | 9.8% | 24.6% | 9.1% | 15.6% |
| Free cash flow margin | 44.6% | 46.5% | – | – | – |
| Cash conversion (CFO ÷ net income) | 1.93x | 8.29x | 2.77x | 6.71x | 4.04x |
| Debt ÷ equity | 3.57x | 3.54x | 1.81x | 1.82x | 1.29x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 4,393 | 4,116 | 1,702 | 1,878 | 704 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.