What is Carver Bancorp's earnings per share (EPS)?

Carver Bancorp (CARV) reported diluted earnings per share of $-2.65 for fiscal year 2025. This represents a -334.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Carver Bancorp Financials

CARV

Source SEC Filings (10-K/10-Q) Data as of Sep 30, 2025 Currency USD FYE March

This page shows Carver Bancorp (CARV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CARV FY2025 2026-04-22

Thin equity funding means relatively small losses on a $730.0M asset base are hitting capital disproportionately hard.

Between FY2023 and FY2025, assets were roughly flat near $730.0M while equity dropped to $29.6M, meaning the balance sheet stayed large but the loss-absorbing layer got thinner. With operating cash flow negative and ROE at -46.5% in FY2025, the core issue is not simple shrinkage; it is that recurring losses are hitting a very small capital cushion.

Even after long-term debt fell to $20.2M, total liabilities still stood at $700.4M, so deleveraging at one layer did not materially change the company’s liability-funded balance sheet. Retained earnings at -$65.3M show those losses are being stored in the balance sheet rather than offset by enough profitability to rebuild book capital.

FY2025 free cash flow was -$12.9M while cash ended at $50.3M. Because capital spending was only $331K, the drain came mainly from operations rather than expansion spending, which makes this a cash conversion problem as much as an accounting-profit problem.

Financial Health Signals

Financial health score pending refresh

We are recalculating Carver Bancorp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/7

Carver Bancorp passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.92x

For every $1 of reported earnings, Carver Bancorp generates $0.92 in operating cash flow (-$12.6M OCF vs -$13.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.0M

YoY+1.5%

5Y CAGR-32.6%

10Y CAGR-18.2%

Carver Bancorp generated $3.0M in revenue in fiscal year 2025. This represents an increase of 1.5% from the prior year.

EBITDA

N/A

Net Income

-$13.7M

YoY-361.7%

Carver Bancorp reported -$13.7M in net income in fiscal year 2025. This represents a decrease of 361.7% from the prior year.

EPS (Diluted)

$-2.65

YoY-334.4%

Carver Bancorp earned $-2.65 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 334.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$12.9M

YoY-86.7%

Carver Bancorp generated -$12.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 86.7% from the prior year.

Cash & Debt

$50.3M

YoY-14.8%

5Y CAGR+1.1%

10Y CAGR-0.1%

Carver Bancorp held $50.3M in cash against $20.2M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+0.0%

5Y CAGR+6.8%

10Y CAGR+3.4%

Carver Bancorp had 5M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-457.7%

YoY-357.0pp

5Y CAGR-432.6pp

10Y CAGR-456.5pp

Carver Bancorp's net profit margin was -457.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 357.0 percentage points from the prior year.

Return on Equity

-46.5%

YoY-39.4pp

5Y CAGR-35.4pp

10Y CAGR-46.0pp

Carver Bancorp's ROE was -46.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 39.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$331K

YoY-8.1%

5Y CAGR-23.8%

10Y CAGR+1.4%

Carver Bancorp invested $331K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 8.1% from the prior year.

CARV Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.0M+1.5%	$3.0M+2.0%	$2.9M-41.8%	$5.0M+18.5%	$4.2M-80.6%	$21.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$596K+23.9%	$481K-4.8%	$505K0.0%	$505K+215.6%	$160K-34.4%	$244K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$15.1M+32.1%	$11.5M+133.3%	$4.9M+104.7%	$2.4M-45.7%	$4.4M-21.5%	$5.6M
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$13.7M-361.7%	-$3.0M+32.4%	-$4.4M-419.6%	-$847K+78.3%	-$3.9M+28.2%	-$5.4M
EPS (Diluted)	$-2.65-334.4%	$-0.61+40.8%	$-1.03-329.2%	$-0.24+78.9%	$-1.14+22.4%	$-1.47

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$1.2M+25.1%	$964K+26.7%	$761K-20.1%	$953K+34.0%	$711K+23.0%	$578K-25.3%	$774K+5.9%	$731K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$8.8M+8.8%	$8.1M+132.1%	-$25.3M-366.4%	$9.5M+15.3%	$8.2M+0.9%	$8.2M+134.6%	-$23.6M-391.1%	$8.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$3.4M-3.6%	$3.6M-3.9%	$3.7M-4.7%	$3.9M+1.5%	$3.8M+3.5%	$3.7M+4.0%	$3.6M+19.0%	$3.0M
Income Tax	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	-$2.4M-106.5%	-$1.2M+68.8%	-$3.8M+33.2%	-$5.6M-167.3%	-$2.1M+4.5%	-$2.2M-20209.1%	$11K-42.1%	$19K
EPS (Diluted)	$-0.46-109.1%	$-0.22	N/A	$-1.09-165.9%	$-0.41+4.7%	$-0.43	N/A	$0.00

CARV Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$730.0M-3.5%	$756.8M+4.6%	$723.2M-1.6%	$735.3M+8.7%	$676.7M+16.9%	$578.8M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$50.3M-14.8%	$59.0M+38.7%	$42.6M-30.3%	$61.0M-19.3%	$75.6M+59.0%	$47.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$700.4M-2.0%	$714.5M+5.4%	$678.0M-0.3%	$680.2M+8.9%	$624.4M+17.8%	$529.9M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$20.2M-56.5%	$46.4M+13.5%	$40.9M+157.2%	$15.9M	N/A	N/A
Total Equity	$29.6M-30.1%	$42.3M-6.4%	$45.2M-17.9%	$55.1M+5.3%	$52.3M+7.0%	$48.9M
Retained Earnings	-$65.3M-26.7%	-$51.5M-7.6%	-$47.9M-10.1%	-$43.5M-2.0%	-$42.7M+18.4%	-$52.3M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$697.9M-2.2%	$713.6M-2.2%	$730.0M+0.3%	$727.5M-2.8%	$748.8M+0.3%	$746.5M-1.4%	$756.8M-2.4%	$775.3M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$40.7M-7.0%	$43.8M-12.9%	$50.3M+0.7%	$50.0M-8.4%	$54.5M+17.7%	$46.3M-21.5%	$59.0M-21.5%	$75.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$671.0M-2.1%	$685.1M-2.2%	$700.4M+0.7%	$695.3M-1.9%	$708.9M+0.3%	$706.6M-1.1%	$714.5M-2.5%	$732.6M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	$20.2M	N/A	N/A	N/A	$46.4M	N/A
Total Equity	$26.9M-5.6%	$28.5M-3.5%	$29.6M-8.3%	$32.3M-19.1%	$39.9M0.0%	$39.9M-5.8%	$42.3M-1.0%	$42.7M
Retained Earnings	-$68.9M-3.7%	-$66.5M-1.8%	-$65.3M-6.1%	-$61.5M-10.1%	-$55.9M-3.9%	-$53.8M-4.3%	-$51.5M0.0%	-$51.6M

CARV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$12.6M-91.9%	-$6.6M+37.5%	-$10.5M-247.0%	$7.2M+223.3%	$2.2M+7235.5%	-$31K
Capital Expenditures	$331K-8.1%	$360K+60.0%	$225K+17.2%	$192K-25.0%	$256K-80.1%	$1.3M
Free Cash Flow	-$12.9M-86.7%	-$6.9M+35.5%	-$10.7M-254.3%	$7.0M+255.8%	$2.0M+248.5%	-$1.3M
Investing Cash Flow	$15.1M+175.2%	-$20.1M-31.4%	-$15.3M+80.7%	-$79.1M-2.7%	-$77.0M-589.6%	$15.7M
Financing Cash Flow	-$11.2M-125.9%	$43.1M+489.6%	$7.3M-87.3%	$57.4M-44.2%	$102.8M+16511.1%	$619K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	$0-100.0%	$2.5M0.0%	$2.5M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$1.6M-589.1%	-$230K+96.3%	-$6.2M-492.2%	-$1.0M+65.5%	-$3.0M-28.9%	-$2.3M+17.8%	-$2.9M-186.5%	$3.3M
Capital Expenditures	$116K-31.0%	$168K+833.3%	$18K-66.0%	$53K-50.0%	$106K-31.2%	$154K+24.2%	$124K+74.6%	$71K
Free Cash Flow	-$1.7M-327.4%	-$398K+93.6%	-$6.2M-465.2%	-$1.1M+65.0%	-$3.1M-25.2%	-$2.5M+16.0%	-$3.0M-192.3%	$3.2M
Investing Cash Flow	$12.2M+36.4%	$9.0M+2831.1%	-$328K-103.2%	$10.1M+14.3%	$8.9M+346.4%	-$3.6M-245.7%	$2.5M+119.6%	-$12.6M
Financing Cash Flow	-$13.7M+9.8%	-$15.2M-321.3%	$6.9M+150.2%	-$13.7M-680.1%	$2.4M+135.0%	-$6.7M+57.4%	-$15.8M-148.9%	$32.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CARV Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-457.7%-357.0pp	-100.6%+51.2pp	-151.8%-134.8pp	-17.0%+75.7pp	-92.7%-67.6pp	-25.1%
Return on Equity	-46.5%-39.4pp	-7.0%+2.7pp	-9.7%-8.2pp	-1.5%+5.9pp	-7.4%+3.6pp	-11.1%
Return on Assets	-1.9%-1.5pp	-0.4%+0.2pp	-0.6%-0.5pp	-0.1%+0.5pp	-0.6%+0.4pp	-0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.68-0.4	1.10+0.2	0.90+0.6	0.29-11.7	11.94+1.1	10.84
FCF Margin	-430.9%-196.6pp	-234.3%+136.1pp	-370.4%-510.1pp	139.7%+93.2pp	46.5%+52.6pp	-6.1%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-201.6%-79.5pp	-122.1%+373.4pp	-495.5%+97.1pp	-592.6%-295.5pp	-297.2%+85.5pp	-382.7%-384.1pp	1.4%-1.2pp	2.6%
Return on Equity	-9.0%-4.9pp	-4.1%+8.6pp	-12.7%+4.8pp	-17.5%-12.2pp	-5.3%+0.3pp	-5.5%-5.6pp	0.0%-0.0pp	0.0%
Return on Assets	-0.4%-0.2pp	-0.2%+0.4pp	-0.5%+0.3pp	-0.8%-0.5pp	-0.3%+0.0pp	-0.3%-0.3pp	0.0%0.0pp	0.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	24.92+0.9	24.01+23.3	0.68-20.9	21.55+3.8	17.78+0.1	17.73+16.6	1.10-16.0	17.15
FCF Margin	-141.0%-99.8pp	-41.3%+774.2pp	-815.5%-700.3pp	-115.2%+325.4pp	-440.7%-7.6pp	-433.0%-47.9pp	-385.1%-827.0pp	441.9%

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Frequently Asked Questions

What is Carver Bancorp's annual revenue?

Carver Bancorp (CARV) reported $3.0M in total revenue for fiscal year 2025. This represents a 1.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Carver Bancorp's revenue growing?

Carver Bancorp (CARV) revenue grew by 1.5% year-over-year, from $3.0M to $3.0M in fiscal year 2025.

Is Carver Bancorp profitable?

No, Carver Bancorp (CARV) reported a net income of -$13.7M in fiscal year 2025, with a net profit margin of -457.7%.

How much debt does Carver Bancorp have?

As of fiscal year 2025, Carver Bancorp (CARV) had $50.3M in cash and equivalents against $20.2M in long-term debt.

What is Carver Bancorp's net profit margin?

Carver Bancorp (CARV) had a net profit margin of -457.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Carver Bancorp's return on equity (ROE)?

Carver Bancorp (CARV) has a return on equity of -46.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Carver Bancorp's free cash flow?

Carver Bancorp (CARV) generated -$12.9M in free cash flow during fiscal year 2025. This represents a -86.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Carver Bancorp's operating cash flow?

Carver Bancorp (CARV) generated -$12.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Carver Bancorp's total assets?

Carver Bancorp (CARV) had $730.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Carver Bancorp's capital expenditures?

Carver Bancorp (CARV) invested $331K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Carver Bancorp have outstanding?

Carver Bancorp (CARV) had 5M shares outstanding as of fiscal year 2025.

What is Carver Bancorp's debt-to-equity ratio?

Carver Bancorp (CARV) had a debt-to-equity ratio of 0.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Carver Bancorp's return on assets (ROA)?

Carver Bancorp (CARV) had a return on assets of -1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Carver Bancorp's cash runway?

Based on fiscal year 2025 data, Carver Bancorp (CARV) had $50.3M in cash against an annual operating cash burn of $12.6M. This gives an estimated cash runway of approximately 48 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Carver Bancorp's Piotroski F-Score?

Carver Bancorp (CARV) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Carver Bancorp's earnings high quality?

Carver Bancorp (CARV) has an earnings quality ratio of 0.92x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.