FLG
FLAGSTAR BANK, NATIONAL ASSOCIATION
Financials • CIK: 0000910073
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Market Cap
$5.23B
P/E (TTM)
-25.2x
Rev Growth (TTM)
-19.2%
Net Margin (TTM)
-10.2%
FCF Yield (TTM)
-3.5%
FCF Margin (TTM)
-8.8%
Cash Flow Health
Free Cash Flow4/8 positive
TTM$-181M
Q4 '25
$-189M-178%
Q3 '25
$243M-32%
FCF Margin
TTM-8.8%
Q4 '25-33.9%-172%
Sector: 22.2%Below Avg
OCF Margin-8.8%
OCF/NI0.86x
CapEx Coverage–
FCF Yield-3.5%
FCF Growth (2Y)–
Cash Conversion Cycle
0 days
DSO: 0+DIO: –−DPO: –
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM0.5%
Div Yield0.3%
+Buyback (TTM)0.2%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.3%
Free Cash Flow (TTM)$-181.0M
Stock Repurchases (TTM)$10.0M
Capital Return / FCF-13.8%
Est. Dividends Paid (TTM)$16.6M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
–
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
0.02x
8Q: 0.02x
Leverage (1+D/E)
1.49x
D/E: 0.49x
Asset & CapEx Efficiency
Fixed Asset Turn
4.24x
8Q:4.02x
+82.6%
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $2.1B | $557.0M↑7.3% | $519.0M↑4.6% | $496.0M↑1.2% | $490.0M↓21.6% | $625.0M↑0.3% | $623.0M↓7.2% | $671.0M↑6.0% | $633.0M |
Operating Income | $-14.0M | $48.0M↑1700.0% | $-3.0M↑82.4% | $-17.0M↑59.5% | $-42.0M↑54.8% | $-93.0M↓0.0% | $-93.0M↓173.5% | $-34.0M↑48.5% | $-66.0M |
Net Income | $-210.0M | $21.0M↑146.7% | $-45.0M↑42.3% | $-78.0M↑27.8% | $-108.0M↑44.9% | $-196.0M↑32.2% | $-289.0M↑13.2% | $-333.0M↑0.6% | $-335.0M |
Operating Cash Flow | $-181.0M | $-189.0M↓177.8% | $243.0M↓31.5% | $355.0M↑160.2% | $-590.0M↓194.7% | $623.0M↑160.0% | $-1.0B↓230.5% | $796.0M↑370.7% | $-294.0M |
Free Cash Flow | $-181.0M | $-189.0M↓177.8% | $243.0M↓31.5% | $355.0M↑160.2% | $-590.0M↓194.7% | $623.0M↑160.0% | $-1.0B↓230.5% | $796.0M↑370.7% | $-294.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-25.2x
Volatile
8Q: -21.7x+7661%
Valuation Lenses
Earnings
-25.2x
vs – sector
Cash Flow
88.2x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
0.3%
Buyback
0.2%
Total Yield
0.5%
Market Cap$5.23B
EV$-15.96B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
30/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Bottom 25%
-2.6%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
0.86x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover–
Working Capital
Cash Conversion Cycle0 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
31/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-19.2%
OpInc Growth YoY
151.6%
EPS Growth YoY
86.2%
FCF 3Y CAGR
N/A
Growth Quality Analysis
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
—
Operating
—
Net
-10.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+1.4 pts
FCF: -8.8% | Net: -10.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.98B
Interest Coverage
–
+Net cash position: $1.98B
Leverage Metrics
Debt-to-Equity
0.49x
Balance sheet risk & solvency analysis