What is Live Oak Bancshares Inc's earnings per share (EPS)?

Live Oak Bancshares Inc (LOB) reported diluted earnings per share of $2.23 for fiscal year 2025. This represents a 32.0% 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.

Live Oak Bancshares Inc Financials

LOB

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Live Oak Bancshares Inc (LOB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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 LOB FY2025 2026-05-05

Thin asset returns are being amplified by heavy balance-sheet leverage, while cash generation has stabilized after the 2022 funding strain.

From FY2023 to FY2025, operating cash flow stayed near $157M even as net income rose from $74M to $106M, so the recovery looks more like a steadier earnings base than a one-off accounting rebound. At the same time, equity grew from $903M to $1.25B and the debt-to-equity ratio eased from 11.5x to 11.1x, meaning retained earnings are slowly rebuilding capital inside a still highly leveraged structure.

FY2025's return on assets was only 0.7%, yet return on equity reached 8.5%; that gap exists because the company is operating with about 11x liabilities-to-equity leverage. That is the core mechanic here: a thin spread on a huge asset base can still lift equity returns, but it leaves little room for weaker asset yields.

Revenue reached $908M in FY2025, but interest expense also reached $460M, showing that growth came with a much heavier funding bill. That helps explain why net margin was only 11.7% in FY2025 versus 46.2% in FY2021, so scale alone did not preserve prior profitability.

Financial Health Signals

Financial Profile 25/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Live Oak Bancshares Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Live Oak Bancshares Inc's revenue grew 11.8% year-over-year to $908.5M, a solid pace of expansion. This earns a growth score of 58/100.

Leverage

Live Oak Bancshares Inc has elevated debt relative to equity (D/E of 11.11), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

Live Oak Bancshares Inc converts 15.8% of revenue into free cash flow ($143.5M). This strong cash generation earns a score of 65/100.

Returns

Live Oak Bancshares Inc generates a 8.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is up from 7.8% the prior year.

Piotroski F-Score Neutral

4/9

Live Oak Bancshares Inc passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.49x

For every $1 of reported earnings, Live Oak Bancshares Inc generates $1.49 in operating cash flow ($158.2M OCF vs $105.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$908.5M

YoY+11.8%

5Y CAGR+25.8%

10Y CAGR+38.7%

Live Oak Bancshares Inc generated $908.5M in revenue in fiscal year 2025. This represents an increase of 11.8% from the prior year.

EBITDA

N/A

Net Income

$105.9M

YoY+36.7%

5Y CAGR+12.2%

10Y CAGR+17.8%

Live Oak Bancshares Inc reported $105.9M in net income in fiscal year 2025. This represents an increase of 36.7% from the prior year.

EPS (Diluted)

$2.23

YoY+32.0%

5Y CAGR+9.3%

10Y CAGR+13.1%

Live Oak Bancshares Inc earned $2.23 per diluted share (EPS) in fiscal year 2025. This represents an increase of 32.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$143.5M

YoY+33.5%

Live Oak Bancshares Inc generated $143.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 33.5% from the prior year.

Cash & Debt

$864.9M

YoY+42.1%

5Y CAGR+22.1%

Live Oak Bancshares Inc held $864.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.12

YoY+0.0%

5Y CAGR+0.0%

Live Oak Bancshares Inc paid $0.12 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

11.7%

YoY+2.1pp

5Y CAGR-9.0pp

10Y CAGR-48.2pp

Live Oak Bancshares Inc's net profit margin was 11.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.1 percentage points from the prior year.

Return on Equity

8.5%

YoY+0.7pp

5Y CAGR-2.0pp

10Y CAGR-1.9pp

Live Oak Bancshares Inc's ROE was 8.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$14.8M

YoY-70.1%

5Y CAGR-6.8%

10Y CAGR-7.0%

Live Oak Bancshares Inc invested $14.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 70.1% from the prior year.

LOB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$908.5M+11.8%	$812.4M+18.0%	$688.3M+54.9%	$444.5M+23.1%	$361.2M+25.2%	$288.4M
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	$189.4M+8.4%	$174.7M+3.3%	$169.1M-1.0%	$170.8M+36.7%	$124.9M+11.0%	$112.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$460.1M+5.4%	$436.5M+27.3%	$343.0M+193.2%	$117.0M+81.6%	$64.4M-31.2%	$93.7M
Income Tax	$37.2M+214.5%	$11.8M+32.3%	$8.9M-73.8%	$34.1M-22.1%	$43.8M+460.3%	-$12.2M
Net Income	$105.9M+36.7%	$77.5M+4.8%	$73.9M-58.1%	$176.2M+5.5%	$167.0M+180.5%	$59.5M
EPS (Diluted)	$2.23+32.0%	$1.69+3.0%	$1.64-58.2%	$3.92+5.7%	$3.71+159.4%	$1.43

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$233.9M-2.4%	$239.7M+3.6%	$231.4M+3.2%	$224.3M+5.2%	$213.1M+0.3%	$212.6M+1.7%	$208.9M+5.3%	$198.4M
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	$49.4M+17.6%	$42.0M-20.6%	$52.8M+7.5%	$49.1M+7.9%	$45.5M+24.2%	$36.7M-17.7%	$44.5M-3.7%	$46.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$114.5M-1.8%	$116.5M+0.5%	$115.9M+0.8%	$115.1M+2.2%	$112.6M-2.2%	$115.1M+2.8%	$111.9M+4.5%	$107.1M
Income Tax	$10.1M-35.8%	$15.8M+56.2%	$10.1M+29.3%	$7.8M+125.6%	$3.5M+2.3%	$3.4M-29.7%	$4.8M-47.0%	$9.1M
Net Income	$30.0M-35.0%	$46.2M+74.3%	$26.5M+13.2%	$23.4M+141.1%	$9.7M-1.8%	$9.9M-24.0%	$13.0M-51.7%	$27.0M
EPS (Diluted)	$0.60	N/A	$0.55+7.8%	$0.51+142.9%	$0.21	N/A	$0.28-52.5%	$0.59

LOB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$15.1B+16.9%	$12.9B+14.8%	$11.3B+14.4%	$9.9B+20.0%	$8.2B+4.3%	$7.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$864.9M+42.1%	$608.8M+4.5%	$582.5M+39.8%	$416.6M+104.5%	$203.8M-36.0%	$318.3M
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	$1.8M0.0%	$1.8M0.0%	$1.8M	N/A	N/A
Total Liabilities	$13.9B+16.3%	$11.9B+15.2%	$10.4B+14.6%	$9.0B+20.6%	$7.5B+2.7%	$7.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.2B+25.1%	$999.0M+10.7%	$902.7M+11.3%	$811.0M+13.4%	$715.1M+25.9%	$567.9M
Retained Earnings	$809.9M+13.1%	$715.8M+11.3%	$642.8M+12.3%	$572.5M+42.8%	$400.9M+70.1%	$235.7M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$15.3B+1.1%	$15.1B+3.2%	$14.7B+6.0%	$13.8B+1.7%	$13.6B+5.0%	$12.9B+2.7%	$12.6B+6.2%	$11.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$816.1M-5.6%	$864.9M-3.1%	$892.4M+34.7%	$662.8M-11.0%	$744.3M+22.3%	$608.8M-8.7%	$666.6M+8.3%	$615.4M
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	$1.8M	N/A	N/A
Total Liabilities	$14.0B+1.0%	$13.9B+3.1%	$13.5B+5.5%	$12.8B+1.6%	$12.6B+5.2%	$11.9B+2.9%	$11.6B+6.3%	$10.9B
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	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.3B+2.2%	$1.2B+4.3%	$1.2B+12.7%	$1.1B+3.5%	$1.0B+2.8%	$999.0M-0.9%	$1.0B+4.9%	$961.0M
Retained Earnings	$836.4M+3.3%	$809.9M+5.1%	$770.8M+3.3%	$746.5M+3.1%	$724.2M+1.2%	$715.8M+1.2%	$707.0M+1.7%	$695.2M

LOB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$158.2M+0.9%	$156.8M-15.2%	$184.9M+161.5%	-$300.7M-151.2%	-$119.7M+54.1%	-$261.0M
Capital Expenditures	$14.8M-70.1%	$49.3M+5.3%	$46.8M+7.1%	$43.8M+1319.6%	$3.1M-85.3%	$21.0M
Free Cash Flow	$143.5M+33.5%	$107.5M-22.2%	$138.1M+140.1%	-$344.5M-180.5%	-$122.8M+56.5%	-$282.0M
Investing Cash Flow	-$1.9B-12.0%	-$1.7B-26.8%	-$1.3B-31.7%	-$1.0B-579.0%	-$149.8M+94.3%	-$2.6B
Financing Cash Flow	$2.0B+27.6%	$1.6B+18.8%	$1.3B-13.7%	$1.5B+887.9%	$154.9M-94.8%	$3.0B
Dividends Paid	$5.5M+1.5%	$5.4M+1.5%	$5.3M+1.1%	$5.3M+1.5%	$5.2M+5.7%	$4.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$87.4M+9.7%	$79.7M+27.9%	$62.3M+35.3%	$46.0M+254.6%	-$29.8M-159.9%	$49.7M+4.8%	$47.4M+60.5%	$29.5M
Capital Expenditures	$2.0M-78.0%	$9.3M+436.1%	$1.7M+21.8%	$1.4M-37.9%	$2.3M-42.9%	$4.0M-37.3%	$6.4M-62.8%	$17.2M
Free Cash Flow	$85.3M+21.2%	$70.4M+16.2%	$60.6M+35.8%	$44.6M+239.1%	-$32.1M-170.2%	$45.7M+11.4%	$41.0M+232.7%	$12.3M
Investing Cash Flow	-$273.4M+45.0%	-$497.5M+19.7%	-$619.3M-91.8%	-$322.9M+30.5%	-$464.5M+0.1%	-$465.2M+32.1%	-$685.0M-106.8%	-$331.2M
Financing Cash Flow	$137.2M-64.8%	$390.2M-50.4%	$786.7M+302.6%	$195.4M-69.0%	$629.8M+76.0%	$357.8M-48.1%	$688.7M+115.4%	$319.8M
Dividends Paid	$1.4M+0.7%	$1.4M+0.1%	$1.4M+0.4%	$1.4M+0.1%	$1.4M+0.8%	$1.4M+0.1%	$1.4M+0.3%	$1.4M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LOB 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	11.7%+2.1pp	9.5%-1.2pp	10.7%-28.9pp	39.6%-6.6pp	46.2%+25.6pp	20.6%
Return on Equity	8.5%+0.7pp	7.8%-0.4pp	8.2%-13.5pp	21.7%-1.6pp	23.4%+12.9pp	10.5%
Return on Assets	0.7%+0.1pp	0.6%-0.1pp	0.7%-1.1pp	1.8%-0.2pp	2.0%+1.3pp	0.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	11.11-0.8	11.95+0.5	11.49+0.3	11.15+0.7	10.49-2.4	12.86
FCF Margin	15.8%+2.6pp	13.2%-6.8pp	20.1%+97.6pp	-77.5%-43.5pp	-34.0%+63.8pp	-97.8%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	12.8%-6.4pp	19.3%+7.8pp	11.5%+1.0pp	10.4%+5.9pp	4.6%-0.1pp	4.7%-1.6pp	6.2%-7.4pp	13.6%
Return on Equity	2.4%-1.3pp	3.7%+1.5pp	2.2%+0.0pp	2.2%+1.3pp	0.9%-0.0pp	1.0%-0.3pp	1.3%-1.5pp	2.8%
Return on Assets	0.2%-0.1pp	0.3%+0.1pp	0.2%+0.0pp	0.2%+0.1pp	0.1%-0.0pp	0.1%-0.0pp	0.1%-0.1pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	10.97-0.1	11.11-0.1	11.24-0.8	12.01-0.2	12.23+0.3	11.95+0.4	11.51+0.2	11.35
FCF Margin	36.5%+7.1pp	29.4%+3.2pp	26.2%+6.3pp	19.9%+34.9pp	-15.0%-36.5pp	21.5%+1.9pp	19.6%+13.4pp	6.2%

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Frequently Asked Questions

What is Live Oak Bancshares Inc's annual revenue?

Live Oak Bancshares Inc (LOB) reported $908.5M in total revenue for fiscal year 2025. This represents a 11.8% 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 Live Oak Bancshares Inc's revenue growing?

Live Oak Bancshares Inc (LOB) revenue grew by 11.8% year-over-year, from $812.4M to $908.5M in fiscal year 2025.

Is Live Oak Bancshares Inc profitable?

Yes, Live Oak Bancshares Inc (LOB) reported a net income of $105.9M in fiscal year 2025, with a net profit margin of 11.7%.

What is Live Oak Bancshares Inc's net profit margin?

Live Oak Bancshares Inc (LOB) had a net profit margin of 11.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Live Oak Bancshares Inc pay dividends?

Yes, Live Oak Bancshares Inc (LOB) paid $0.12 per share in dividends during fiscal year 2025.

What is Live Oak Bancshares Inc's return on equity (ROE)?

Live Oak Bancshares Inc (LOB) has a return on equity of 8.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Live Oak Bancshares Inc's free cash flow?

Live Oak Bancshares Inc (LOB) generated $143.5M in free cash flow during fiscal year 2025. This represents a 33.5% 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 Live Oak Bancshares Inc's operating cash flow?

Live Oak Bancshares Inc (LOB) generated $158.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Live Oak Bancshares Inc's total assets?

Live Oak Bancshares Inc (LOB) had $15.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Live Oak Bancshares Inc's capital expenditures?

Live Oak Bancshares Inc (LOB) invested $14.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Live Oak Bancshares Inc's debt-to-equity ratio?

Live Oak Bancshares Inc (LOB) had a debt-to-equity ratio of 11.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Live Oak Bancshares Inc's return on assets (ROA)?

Live Oak Bancshares Inc (LOB) had a return on assets of 0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Live Oak Bancshares Inc's Piotroski F-Score?

Live Oak Bancshares Inc (LOB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 Live Oak Bancshares Inc's earnings high quality?

Live Oak Bancshares Inc (LOB) has an earnings quality ratio of 1.49x, considered cash-backed (high quality). 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.

How financially healthy is Live Oak Bancshares Inc?

Live Oak Bancshares Inc (LOB) scores 25 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.