OFG Bancorp Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
OFG Bancorp's revenue surged 15.6% year-over-year to $750.3M, reflecting rapid business expansion. This strong growth earns a score of 73/100.
OFG Bancorp has elevated debt relative to equity (D/E of 8.17), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
OFG Bancorp converts 30.8% of revenue into free cash flow ($231.2M). This strong cash generation earns a score of 100/100.
OFG Bancorp's ROE of 15.8% shows moderate profitability relative to equity, earning a score of 63/100. This is up from 15.2% the prior year.
OFG Bancorp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, OFG Bancorp generates $1.27 in operating cash flow ($252.5M OCF vs $198.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows OFG Bancorp (OFG) 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).
Key Financial Metrics
OFG Bancorp generated $750.3M in revenue in fiscal year 2024. This represents an increase of 15.6% from the prior year.
OFG Bancorp generated $231.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 16.8% from the prior year.
OFG Bancorp reported $198.2M in net income in fiscal year 2024. This represents an increase of 9.0% from the prior year.
OFG Bancorp earned $4.23 per diluted share (EPS) in fiscal year 2024. This represents an increase of 10.4% from the prior year.
OFG Bancorp held $591.1M in cash against $0 in long-term debt as of fiscal year 2024.
OFG Bancorp paid $0.25 per share in dividends in fiscal year 2024. This represents an increase of 13.6% from the prior year.
OFG Bancorp had 45M shares outstanding in fiscal year 2024. This represents a decrease of 3.6% from the prior year.
OFG Bancorp's net profit margin was 26.4% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.6 percentage points from the prior year.
OFG Bancorp's ROE was 15.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.6 percentage points from the prior year.
OFG Bancorp spent $70.3M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 277.0% from the prior year.
OFG Bancorp invested $21.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 19.5% from the prior year.
OFG Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $200.1M+3.0% | $194.3M+2.7% | $189.2M-0.5% | $190.2M+1.3% | $187.7M+2.3% | $183.4M+4.1% | $176.2M+6.3% | $165.7M |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $45.4M+7.1% | $42.4M+5.6% | $40.2M-2.1% | $41.0M+1.7% | $40.3M+2.6% | $39.3M+20.4% | $32.7M+36.5% | $23.9M |
| Income Tax | $9.5M-32.3% | $14.1M+1.5% | $13.9M+468.7% | $2.4M-87.9% | $20.1M+10.4% | $18.2M-16.5% | $21.8M+3.9% | $21.0M |
| Net Income | $51.8M+0.1% | $51.8M+13.7% | $45.6M-9.5% | $50.3M-1.5% | $51.1M+2.9% | $49.7M+6.6% | $46.6M+3.8% | $44.9M |
| EPS (Diluted) | $1.16+0.9% | $1.15+15.0% | $1.00-9.1% | $1.10+1.9% | $1.08+2.9% | $1.05+6.1% | $0.99+4.2% | $0.95 |
OFG Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.2B0.0% | $12.2B+4.3% | $11.7B+2.0% | $11.5B+2.1% | $11.3B+0.9% | $11.2B-1.6% | $11.3B+10.6% | $10.3B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $740.3M-13.1% | $851.8M+19.9% | $710.6M+20.2% | $591.1M-20.2% | $740.4M-1.9% | $754.4M+0.8% | $748.2M+40.4% | $532.7M |
| 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 | $84.2M0.0% | $84.2M0.0% | $84.2M0.0% | $84.2M0.0% | $84.2M0.0% | $84.2M0.0% | $84.2M0.0% | $84.2M |
| Total Liabilities | $10.9B-0.4% | $10.9B+4.4% | $10.4B+1.8% | $10.2B+2.1% | $10.0B+0.9% | $9.9B-2.0% | $10.2B+10.8% | $9.2B |
| 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 | $1.4B+3.1% | $1.3B+3.0% | $1.3B+3.3% | $1.3B+2.2% | $1.2B+1.0% | $1.2B+1.9% | $1.2B+8.9% | $1.1B |
| Retained Earnings | $866.8M+4.0% | $833.2M+3.9% | $802.0M+3.9% | $772.0M+9.2% | $706.8M+5.1% | $672.5M+5.2% | $639.3M+5.2% | $607.5M |
OFG Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $39.5M+9.9% | $35.9M-56.7% | $83.1M+117.0% | $38.3M-59.7% | $95.1M+55.9% | $61.0M-43.3% | $107.5M+21.1% | $88.8M |
| Capital Expenditures | $4.0M-3.9% | $4.1M-4.6% | $4.3M+7.2% | $4.1M-14.0% | $4.7M-23.7% | $6.2M-1.0% | $6.2M+58.1% | $4.0M |
| Free Cash Flow | $35.5M+11.7% | $31.8M-59.6% | $78.7M+130.0% | $34.2M-62.1% | $90.4M+64.9% | $54.8M-45.9% | $101.3M+19.4% | $84.8M |
| Investing Cash Flow | -$60.1M+80.5% | -$308.9M-217.4% | -$97.3M+52.9% | -$206.8M-95.1% | -$106.0M-164.8% | $163.5M+119.1% | -$856.3M-49.5% | -$572.7M |
| Financing Cash Flow | -$90.9M-121.9% | $414.1M+209.7% | $133.7M+69.1% | $79.1M+2680.7% | -$3.1M+98.6% | -$218.3M-122.6% | $964.2M+343.1% | $217.6M |
| Dividends Paid | $13.5M-0.6% | $13.6M+18.5% | $11.5M-1.5% | $11.6M-2.4% | $11.9M+14.7% | $10.4M-1.5% | $10.5M+1.8% | $10.4M |
| Share Buybacks | $20.4M+165.1% | $7.7M-67.1% | $23.4M-49.1% | $45.9M+89.2% | $24.3M | $0 | $0-100.0% | $2.2M |
OFG Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | 25.9%-0.8pp | 26.7%+2.6pp | 24.1%-2.4pp | 26.5%-0.8pp | 27.3%+0.2pp | 27.1%+0.6pp | 26.5%-0.6pp | 27.1% |
| Return on Equity | 3.8%-0.1pp | 3.9%+0.4pp | 3.5%-0.5pp | 4.0%-0.2pp | 4.2%+0.1pp | 4.1%+0.2pp | 3.9%-0.2pp | 4.1% |
| Return on Assets | 0.4%0.0pp | 0.4%+0.0pp | 0.4%-0.1pp | 0.4%0.0pp | 0.4%0.0pp | 0.4%+0.0pp | 0.4%-0.0pp | 0.4% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 7.89-0.3 | 8.17+0.1 | 8.05-0.1 | 8.170.0 | 8.170.0 | 8.18-0.3 | 8.51+0.1 | 8.36 |
| FCF Margin | 17.8%+1.4pp | 16.4%-25.2pp | 41.6%+23.6pp | 18.0%-30.2pp | 48.2%+18.3pp | 29.9%-27.6pp | 57.5%+6.3pp | 51.2% |
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Frequently Asked Questions
What is OFG Bancorp's annual revenue?
OFG Bancorp (OFG) reported $750.3M in total revenue for fiscal year 2024. This represents a 15.6% 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 OFG Bancorp's revenue growing?
OFG Bancorp (OFG) revenue grew by 15.6% year-over-year, from $648.9M to $750.3M in fiscal year 2024.
Is OFG Bancorp profitable?
Yes, OFG Bancorp (OFG) reported a net income of $198.2M in fiscal year 2024, with a net profit margin of 26.4%.
What is OFG Bancorp's earnings per share (EPS)?
OFG Bancorp (OFG) reported diluted earnings per share of $4.23 for fiscal year 2024. This represents a 10.4% 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.
What is OFG Bancorp's net profit margin?
OFG Bancorp (OFG) had a net profit margin of 26.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does OFG Bancorp pay dividends?
Yes, OFG Bancorp (OFG) paid $0.25 per share in dividends during fiscal year 2024.
What is OFG Bancorp's return on equity (ROE)?
OFG Bancorp (OFG) has a return on equity of 15.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is OFG Bancorp's free cash flow?
OFG Bancorp (OFG) generated $231.2M in free cash flow during fiscal year 2024. This represents a -16.8% 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 OFG Bancorp's operating cash flow?
OFG Bancorp (OFG) generated $252.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are OFG Bancorp's total assets?
OFG Bancorp (OFG) had $11.5B in total assets as of fiscal year 2024, including both current and long-term assets.
What are OFG Bancorp's capital expenditures?
OFG Bancorp (OFG) invested $21.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does OFG Bancorp buy back shares?
Yes, OFG Bancorp (OFG) spent $70.3M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does OFG Bancorp have outstanding?
OFG Bancorp (OFG) had 45M shares outstanding as of fiscal year 2024.
What is OFG Bancorp's debt-to-equity ratio?
OFG Bancorp (OFG) had a debt-to-equity ratio of 8.17 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is OFG Bancorp's return on assets (ROA)?
OFG Bancorp (OFG) had a return on assets of 1.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is OFG Bancorp's Piotroski F-Score?
OFG Bancorp (OFG) has a Piotroski F-Score of 6 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are OFG Bancorp's earnings high quality?
OFG Bancorp (OFG) has an earnings quality ratio of 1.27x, 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 OFG Bancorp?
OFG Bancorp (OFG) scores 59 out of 100 on our Financial Profile, indicating moderate 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.