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NEW YORK STOCK EXCHANGE, INC. · Banking · CIK 0000910073
$11.07
-0.45% · live
Updated
$4.60B market value
From FLAGSTAR BANK, NATIONAL ASSOCIATION's FY2025 10-K, filed Feb 27, 2026 · read the filing
FLAGSTAR BANK, NATIONAL ASSOCIATION takes deposits and lends money.
The financial picture is mixed, with debt needing attention and profitability weaker.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Several areas of financial weakness.
From FLAGSTAR BANK, NATIONAL ASSOCIATION's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Profit
-$1.12B → -$177.0M
Earnings per share
-$2.69 → -$0.43
Cash
$15.43B → $5.98B
Dividends paid
$53.0M → $15.0M
Measured against FY2024, from the 10-K filed Feb 27, 2026
Improved: $941.0M narrower
-$1.12B to -$177.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
FLG fell 0.45% on the latest quote. The average Financials company tracked here moved +1.11%, and the S&P 500 −1.04%. That is 1.6 points below its sector and 0.6 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 11.3% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $177.0M last year.
Not enough history has been reported to judge growth.
For every $1 it owes, it owns $1.10 in assets. Banks and insurers always carry high debt — that is how lending works — so this is normal for the industry and not comparable with other sectors.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It paid a dividend while making a loss, so the payment did not come out of profits — it came from reserves, borrowing or asset sales. It has paid in each of the last 12 years.
WeakNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it lost $177.0M and generated -$181.0M of cash from operations.
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 27, 2026Filing for FY2025 | FY202410-K · Feb 27, 2026Filing for FY2024 | FY202310-K · Feb 27, 2026Filing for FY2023 | FY202210-K/A · Mar 14, 2024Filing for FY2022 | FY202110-K · Feb 25, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | — | — | — | $27.0M | $23.0M | — |
| Selling, general and administrative | $307.0M | $513.0M | $389.0M | $158.0M | $127.0M | −40.2% |
| Interest expense | $606.0M | $1.22B | $2.41B | $696.0M | $400.0M | −50.2% |
| Income before tax | -$198.0M | -$1.38B | -$50.0M | $826.0M | $806.0M | +85.6% |
| Net income | -$177.0M | -$1.12B | -$79.0M | $650.0M | $596.0M | +84.2% |
| Net marginNet income ÷ revenueWhat is this? | — | — | — | 2407.4% | 2591.3% | — |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-0.4255 | $-2.69 | $-0.3282 | $0.9542 | $1.28 | +84.2% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Had shares withheld to cover taxes — 6,643 shares
Holds 149,533 shares after this filing.
Had shares withheld to cover taxes — 2,701 shares
Holds 85,963 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q2 FY2026
Profit turned positive · Earnings per share turned positive · Long-term debt -49.3% — against Q2 FY2025
Read the filingPublished results · Made a Regulation FD disclosure · Reported another event
Read the filingWrite down why you are following FLAGSTAR BANK, NATIONAL ASSOCIATION, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from FLG's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 27, 2026), reported under the US GAAP taxonomy. View the source filing.
2 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Growth and Accounting had too few reported figures and are left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 6 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 4.0 | 3/6 | 10-K, filed Feb 27, 2026 |
| FY2024 | 4.0 | 3/6 | 10-K, filed Mar 4, 2025 |
| FY2023 | 4.0 | 3/6 | 10-K, filed Mar 14, 2024 |
| FY2022 | 8.7 | 4/6 | 10-K, filed Mar 1, 2023 |
| FY2021 | 7.3 | 4/6 | 10-K, filed Feb 25, 2022 |
| FY2020 | 6.0 | 4/6 | 10-K, filed Feb 25, 2022 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
3 of 6 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. 3 could not be evaluated and are excluded from the total rather than counted as failures.
not reported — Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: $2.27 narrower
-$2.69 to -$0.43Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -61.3%
$15.43B to $5.98BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: -71.7%
$53.0M to $15.0MCritical
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Improved: -29.9%
$11.68B to $8.18BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 6, 2026 — read it.
Improved: turned positive
-$70.0M to $34.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: turned positive
-$0.17 to $0.08Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -49.3%
$13.18B to $6.69BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Deteriorated: -36.0%
$8.09B to $5.18BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 6, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +61.9%
$21.0M to $34.0MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +61.8%
$0.05 to $0.08Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -26.9%
$7.08B to $5.18BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -13.0%
$7.68B to $6.69BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
1 other measure barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
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Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
Not meaningful for banks, insurers and other financial companies. Their balance sheets have no working capital and are leveraged by design, which this model misreads as distress.
Reported annual figures
Had shares withheld to cover taxes — 1,259 shares
Holds 88,664 shares after this filing.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join · Held a shareholder vote · Made a Regulation FD disclosure
Had a director or senior officer leave or join · Reported another event
Read the filingQuarterly report for Q1 FY2026
Profit turned positive · Earnings per share turned positive · Cash -44.0% — against Q1 FY2026
Read the filingProxy statement for a shareholder meeting
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingMade a Regulation FD disclosure
Read the filingAnnual report for FY2025
Profit $941.0M narrower · Earnings per share $2.27 narrower · Cash -61.3% — against FY2024
Read the filingMade a Regulation FD disclosure
Read the filingPublished results
Read the filingQuarterly report for Q3 FY2025
Profit $244.0M narrower · Earnings per share $0.59 narrower · Cash -63.2% — against Q3 FY2024
Read the filingHad a director or senior officer leave or join
Read the filingRegistration statement for an offering of securities
Read the filingMade a Regulation FD disclosure
Read the filingPublished results
Read the filingReceived a delisting or listing-standard notice · Signed a material agreement · Completed an acquisition or disposal · Took on a direct financial obligation · Sold shares outside a public offering · Changed the rights attached to its shares · Changed control of the company · Had a director or senior officer leave or join · Reported another event
Read the filingHeld a shareholder vote
Read the filingReported another event
Read the filingFLAGSTAR BANK, N.A. TO REPORT THIRD QUARTER 2026 EARNINGS AND HOST CONFERENCE CALL ON OCTOBER 23RD
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Primary sources and further research