The bank maintains a consistent equity-to-assets ratio of 0.11, reflecting a stable capital base supported by its Mutual Holding Company structure.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 |
|---|
| Cash & Short Term Investments | 1.47B | 483.48M | 989.97M | 975.07M | 827.47M | 910.11M | 951.47M | 823.01M | 801.74M | 805.7M | 749.11M | 740.42M | 750.27M | 763.37M | 729.69M | 310.75M | 743.74M | 307.05M | 132.38M | 231.31M | 164.03M | 118.59M |
| Cash & Due from Banks | 25.12M | 429.44M | 463.72M | 466.75M | 369.56M | 488.33M | 498.03M | 275.14M | 269.77M | 268.22M | 231.24M | 155.37M | 181.4M | 286M | 308.26M | 294.85M | 743.74M | 307.05M | 132.38M | 231.31M | 164.03M | 118.59M |
| Short Term Investments | 0 | 54.05M | 526.25M | 508.32M | 457.91M | 421.78M | 453.44M | 547.86M | 531.97M | 537.48M | 517.87M | 585.05M | 568.87M | 477.38M | 421.43M | 15.9M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 16.86B | 16.24B | 15.87B | 15.68B | 14.72B | 12.94B | 13.59B | 13.75B | 13.4B | 12.96B | 12.23B | 11.77B | 11.2B | 10.57B | 10.77B | 10.16B | 9.88B | 9.88B | 10.26B | 9.06B | 7.92B | 8.35B |
| Investments Growth % | 13.27% | 2.37% | 1.2% | 6.47% | 13.79% | -4.81% | -1.12% | 2.56% | 3.45% | 5.93% | 3.9% | 5.07% | 6.05% | -1.91% | 6.02% | 2.84% | -0.04% | -3.66% | 13.2% | 14.38% | -5.13% | - |
| Long-Term Investments | 65.36B | 16.19B | 15.34B | 15.17B | 14.27B | 12.52B | 13.14B | 13.2B | 12.87B | 12.42B | 11.71B | 11.19B | 10.64B | 10.09B | 10.35B | 10.14B | 9.88B | 9.88B | 10.26B | 9.06B | 7.92B | 8.35B |
| Accounts Receivables | 59.93M | 62.55M | 59.4M | 53.91M | 40.26M | 31.11M | 36.63M | 40.82M | 38.7M | 35.48M | 32.82M | 32.49M | 31.95M | 31.49M | 34.89M | 35.85M | 36.28M | 38.37M | 46.37M | 48.36M | 41.99M | 38.38M |
| Goodwill & Intangibles | 8.97M | 18.28M | 7.63M | 7.4M | 7.94M | 8.94M | 7.86M | 8.08M | 8.84M | 8.38M | 8.85M | 9.99M | 11.67M | 14.07M | 19.61M | 28.92M | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 9.73M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 8.97M | 8.55M | 7.63M | 7.4M | 7.94M | 8.94M | 7.86M | 8.08M | 8.84M | 8.38M | 8.85M | 9.99M | 11.67M | 14.07M | 19.61M | 28.92M | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 43.43M | 40.02M | 33.19M | 34.71M | 34.53M | 37.42M | 41.59M | 61.58M | 63.4M | 60.88M | 61M | 57.19M | 56.44M | 58.52M | 61.15M | 59.49M | 62.69M | 65.13M | 68.11M | 69.67M | 88.96M | 94.38M |
| Other Assets | 482.3M | 664.39M | 660.77M | 677.88M | 612.95M | 551.99M | 464.73M | 409.46M | 352.7M | 362.48M | 340.79M | 341.1M | 317.21M | 313.65M | 323.27M | 314.47M | 354.99M | 305.77M | 281.33M | 866.52M | 377.61M | 311.46M |
| Total Current Assets | 85.05M | 546.04M | 1.05B | 1.03B | 867.73M | 941.22M | 988.11M | 863.83M | 840.44M | 841.18M | 781.92M | 772.91M | 782.22M | 794.86M | 764.58M | 346.6M | 780.02M | 345.41M | 178.75M | 279.68M | 206.02M | 156.97M |
| Total Non-Current Assets | 17.39B | 16.91B | 16.04B | 15.89B | 14.92B | 13.12B | 13.65B | 13.68B | 13.3B | 12.85B | 12.12B | 11.6B | 11.02B | 10.47B | 10.75B | 10.55B | 10.3B | 10.25B | 10.61B | 10B | 8.39B | 8.76B |
| Total Assets | 17.48B | 17.46B | 17.09B | 16.92B | 15.79B | 14.06B | 14.64B | 14.54B | 14.14B | 13.69B | 12.91B | 12.37B | 11.8B | 11.27B | 11.52B | 10.89B | 11.08B | 10.6B | 10.79B | 10.28B | 8.6B | 8.91B |
| Asset Growth % | 8.88% | 2.14% | 1.02% | 7.14% | 12.32% | -3.99% | 0.69% | 2.86% | 3.25% | 6.09% | 4.34% | 4.79% | 4.74% | -2.16% | 5.74% | -1.65% | 4.5% | -1.74% | 4.95% | 19.57% | -3.57% | - |
| Return on Assets (ROA) | 0.53% | 0.53% | 0.47% | 0.46% | 0.5% | 0.56% | 0.57% | 0.56% | 0.61% | 0.67% | 0.64% | 0.6% | 0.57% | 0.49% | 0.1% | 0.08% | 0.1% | 0.13% | 0.52% | 0.27% | 0.5% | 0.72% |
| Accounts Payable | 19.91M | 14.72M | 23.19M | 10.36M | 2.24M | 1.85M | 3.07M | 3.71M | 3.72M | 1.97M | 1.93M | 1.85M | 1.42M | 381K | 680K | 1.04M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 5.13B | 4.9B | 4.82B | 5.3B | 4.82B | 3.13B | 3.57B | 3.94B | 3.75B | 3.71B | 2.77B | 2.22B | 1.19B | 820.86M | 615.73M | 291.71M | 70.16M | 70.16M | 498.03M | 0 | 25.1M | 717.38M |
| Net Debt | 5.1B | 4.47B | 4.36B | 4.84B | 4.45B | 2.64B | 3.07B | 3.66B | 3.48B | 3.44B | 2.54B | 2.06B | 1.01B | 534.87M | 307.47M | -3.13M | -673.58M | -236.89M | 365.65M | -231.31M | -138.92M | 598.79M |
| Long-Term Debt | 3.45B | 4.9B | 4.82B | 5.3B | 4.82B | 3.13B | 3.57B | 3.94B | 3.75B | 3.71B | 2.77B | 2.22B | 1.19B | 820.86M | 615.73M | 291.71M | 70.16M | 70.16M | 498.03M | 0 | 25.1M | 717.38M |
| Short-Term Debt | 1.67B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 10.43B | 214.88M | 211.48M | 237.35M | 117.25M | 109.63M | 111.54M | 103.33M | 103M | 100.45M | 92.31M | 86.29M | 76.27M | 71.39M | 67.86M | 58.23M | 335.83M | 153.91M | 129.11M | 150.61M | 156.79M | 168.32M |
| Total Current Liabilities | 1.67B | 10.45B | 10.2B | 9.45B | 9.01B | 9.08B | 9.29B | 8.81B | 8.52B | 8.2B | 8.39B | 8.34B | 8.69B | 8.51B | 9.03B | 8.77B | 8.92B | 8.63B | 8.32B | 8.14B | 7.4B | 7.05B |
| Total Non-Current Liabilities | 13.88B | 5.12B | 5.03B | 5.54B | 4.94B | 3.24B | 3.68B | 4.04B | 3.86B | 3.81B | 2.86B | 2.3B | 1.27B | 892.25M | 683.59M | 349.95M | 405.98M | 224.07M | 627.14M | 150.61M | 181.9M | 885.7M |
| Total Liabilities | 15.56B | 15.56B | 15.23B | 14.99B | 13.95B | 12.33B | 12.97B | 12.85B | 12.38B | 12B | 11.25B | 10.64B | 9.97B | 9.4B | 9.71B | 9.12B | 9.32B | 8.85B | 8.94B | 8.29B | 7.58B | 7.94B |
| Total Equity | 1.92B | 1.89B | 1.86B | 1.93B | 1.84B | 1.73B | 1.67B | 1.7B | 1.76B | 1.69B | 1.66B | 1.73B | 1.84B | 1.87B | 1.81B | 1.77B | 1.75B | 1.75B | 1.84B | 1.99B | 1.01B | 973.87M |
| Equity Growth % | 0.93% | 1.68% | -3.36% | 4.5% | 6.47% | 3.61% | -1.47% | -3.51% | 4.05% | 1.78% | -3.98% | -5.98% | -1.71% | 3.58% | 1.86% | 1.2% | 0.4% | -5.3% | -7.18% | 96.15% | 3.98% | - |
| Equity / Assets (Capital Ratio) | 11% | 10.85% | 10.9% | 11.39% | 11.68% | 12.32% | 11.42% | 11.67% | 12.44% | 12.34% | 12.87% | 13.98% | 15.58% | 16.61% | 15.69% | 16.29% | 15.83% | 16.47% | 17.09% | 19.32% | 11.78% | 10.93% |
| Return on Equity (ROE) | 4.89% | 4.84% | 4.2% | 3.99% | 4.17% | 4.76% | 4.95% | 4.64% | 4.95% | 5.31% | 4.75% | 4.07% | 3.55% | 3.04% | 0.64% | 0.53% | 0.65% | 0.8% | 2.85% | 1.71% | 4.38% | 6.62% |
| Book Value per Share | 6.87 | 6.77 | 6.67 | 6.92 | 6.62 | 6.22 | 6.02 | 6.12 | 6.34 | 6.05 | 5.85 | 5.92 | 6.12 | 6.18 | 5.99 | 5.89 | 5.84 | 5.79 | 5.77 | 7.37 | 4.46 | 3.32 |
| Tangible BV per Share | 6.84 | 6.70 | 6.65 | 6.89 | 6.59 | 6.19 | 5.99 | 6.09 | 6.31 | 6.02 | 5.82 | 5.88 | 6.08 | 6.14 | 5.92 | 5.80 | 5.84 | 5.79 | 5.77 | 7.37 | 4.46 | 3.32 |
| Common Stock | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 3.32M | 0 | 0 |
| Additional Paid-in Capital | 1.76B | 1.76B | 1.75B | 1.76B | 1.75B | 1.75B | 1.74B | 1.73B | 1.73B | 1.72B | 1.72B | 1.71B | 1.7B | 1.7B | 1.69B | 1.69B | 1.69B | 1.68B | 1.67B | 1.67B | 627.98M | 627.98M |
| Retained Earnings | 962.21M | 946.78M | 915.49M | 886.98M | 870.05M | 853.66M | 865.51M | 837.66M | 807.89M | 760.07M | 698.93M | 641.79M | 589.68M | 529.02M | 473.25M | 461.84M | 452.63M | 456.88M | 462.19M | 421.5M | 395.89M | 352.35M |
| Accumulated OCI | -8.8M | -21.23M | -15.61M | 85.21M | 23.15M | -67.8M | -131.97M | -69.38M | 23.22M | -7.49M | -19.63M | -13.06M | -10.79M | -8.6M | -5.92M | -16.28M | -18.06M | -17.92M | -8.61M | -106.84M | -11.28M | -6.46M |
| Treasury Stock | -776.4M | -774.34M | -772.2M | -776.1M | -771.99M | -768.03M | -767.65M | -764.59M | -754.27M | -735.53M | -681.57M | -548.56M | -379.11M | -278.21M | -280.94M | -282.09M | -288.37M | -287.51M | -192.66M | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Asset-liability duration mismatch
According to recent regulatory filings, TFSL's total assets have remained remarkably flat, moving from $17.0 billion in 2024Q3 to $17.5 billion in 2026Q2, suggesting a balance sheet strategy that prioritizes capital preservation over aggressive expansion within its core Ohio and Florida residential mortgage markets.
The lack of meaningful asset growth indicates that the bank is operating in a mature, low-growth phase of its business cycle. Investors should monitor whether this stagnation reflects a deliberate risk-mitigation strategy or an inability to source high-quality loan volume in a competitive interest rate environment.
As reported in financial statements, TFSL has maintained a consistent equity-to-assets ratio of 0.11 over the last ten quarters, which underscores the bank's reliance on its Mutual Holding Company structure to provide a stable, long-term capital base that is insulated from short-term market volatility.
This stable capital ratio suggests that the bank is not currently utilizing its balance sheet to aggressively leverage its position. The consistency of this metric implies that management is prioritizing regulatory capital compliance and dividend-waiver sustainability over rapid balance sheet expansion.
Based on reported figures, TFSL holds a massive investment securities portfolio of $16.9 billion against $17.5 billion in total assets as of 2026Q2, highlighting a liquidity profile that is heavily skewed toward fixed-income instruments rather than a traditional, diversified commercial loan book.
This heavy concentration in securities suggests that the bank's liquidity is highly sensitive to interest rate fluctuations and the duration of its bond holdings. Analysts should investigate the potential for unrealized losses within this portfolio, as it represents the primary engine of the bank's asset-side liquidity.
Data from recent filings indicates that TFSL's net interest margin has remained locked at 0.4% for ten consecutive quarters, which may indicate a significant duration mismatch between the bank's long-term fixed-rate mortgage assets and its shorter-term deposit funding base in a volatile rate environment.
This persistent margin compression warrants further investigation into the bank's hedging strategies and the potential for future earnings pressure if deposit costs continue to rise. The lack of margin expansion suggests that the bank's balance sheet is currently ill-positioned to benefit from shifts in the yield curve.
Quick answers to the most common questions about buying TFSL stock.
As of 2025, TFS Financial Corporation (TFSL) had total assets of $17.46B including $546.0M in current assets.
TFS Financial Corporation (TFSL) carries total debt of $4.90B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
TFS Financial Corporation (TFSL) has total shareholders' equity (book value) of $1.89B ($6.77 book value per share). Book value represents the net worth of the company belonging to common stock holders.
TFS Financial Corporation (TFSL) reported a current ratio of 0.05x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.