vs
Side-by-side financial comparison of PATHWARD FINANCIAL, INC. (CASH) and Paymentus Holdings, Inc. (PAY). Click either name above to swap in a different company.
Paymentus Holdings, Inc. is the larger business by last-quarter revenue ($330.5M vs $173.1M, roughly 1.9× PATHWARD FINANCIAL, INC.). PATHWARD FINANCIAL, INC. runs the higher net margin — 20.3% vs 6.3%, a 14.1% gap on every dollar of revenue. On growth, Paymentus Holdings, Inc. posted the faster year-over-year revenue change (28.1% vs -0.2%). PATHWARD FINANCIAL, INC. produced more free cash flow last quarter ($104.1M vs $45.0M). Over the past eight quarters, Paymentus Holdings, Inc.'s revenue compounded faster (33.7% CAGR vs -18.0%).
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
Paymentus Holdings, Inc. is a leading cloud-based bill payment and customer engagement technology provider. It offers integrated digital payment solutions, billing automation tools, and self-service portals for enterprises across utilities, financial services, government, healthcare, and telecommunications segments, primarily operating in the North American market.
CASH vs PAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.1M | $330.5M |
| Net Profit | $35.2M | $20.7M |
| Gross Margin | — | 25.4% |
| Operating Margin | 24.6% | 7.3% |
| Net Margin | 20.3% | 6.3% |
| Revenue YoY | -0.2% | 28.1% |
| Net Profit YoY | 11.9% | 57.2% |
| EPS (diluted) | $1.57 | $0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $173.1M | $330.5M | ||
| Q3 25 | $186.7M | $310.7M | ||
| Q2 25 | $195.8M | $280.1M | ||
| Q1 25 | $274.8M | $275.2M | ||
| Q4 24 | $182.6M | $257.9M | ||
| Q3 24 | $179.5M | $231.6M | ||
| Q2 24 | $188.6M | $197.4M | ||
| Q1 24 | $257.6M | $184.9M |
| Q4 25 | $35.2M | $20.7M | ||
| Q3 25 | $38.8M | $17.7M | ||
| Q2 25 | $42.1M | $14.7M | ||
| Q1 25 | $75.0M | $13.8M | ||
| Q4 24 | $30.0M | $13.1M | ||
| Q3 24 | $33.5M | $14.4M | ||
| Q2 24 | $44.9M | $9.4M | ||
| Q1 24 | $69.9M | $7.2M |
| Q4 25 | — | 25.4% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 25.5% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | — | 25.6% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 29.8% | ||
| Q1 24 | — | 28.5% |
| Q4 25 | 24.6% | 7.3% | ||
| Q3 25 | 25.9% | 6.4% | ||
| Q2 25 | 24.1% | 5.7% | ||
| Q1 25 | 33.2% | 5.7% | ||
| Q4 24 | 19.8% | 5.5% | ||
| Q3 24 | 20.9% | 5.2% | ||
| Q2 24 | 27.1% | 5.2% | ||
| Q1 24 | 33.8% | 4.5% |
| Q4 25 | 20.3% | 6.3% | ||
| Q3 25 | 20.8% | 5.7% | ||
| Q2 25 | 21.5% | 5.3% | ||
| Q1 25 | 27.3% | 5.0% | ||
| Q4 24 | 16.4% | 5.1% | ||
| Q3 24 | 18.7% | 6.2% | ||
| Q2 24 | 23.8% | 4.7% | ||
| Q1 24 | 27.1% | 3.9% |
| Q4 25 | $1.57 | $0.16 | ||
| Q3 25 | $1.69 | $0.14 | ||
| Q2 25 | $1.81 | $0.11 | ||
| Q1 25 | $3.14 | $0.11 | ||
| Q4 24 | $1.23 | $0.11 | ||
| Q3 24 | $1.34 | $0.11 | ||
| Q2 24 | $1.78 | $0.07 | ||
| Q1 24 | $2.74 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $331.2M | $320.9M |
| Total DebtLower is stronger | $33.5M | — |
| Stockholders' EquityBook value | $854.5M | $560.4M |
| Total Assets | $7.6B | $667.9M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $331.2M | $320.9M | ||
| Q3 25 | $120.6M | $287.9M | ||
| Q2 25 | $258.3M | $266.4M | ||
| Q1 25 | $254.2M | $245.8M | ||
| Q4 24 | $597.4M | $205.9M | ||
| Q3 24 | $158.3M | $187.5M | ||
| Q2 24 | $298.9M | $188.8M | ||
| Q1 24 | $347.9M | $180.1M |
| Q4 25 | $33.5M | — | ||
| Q3 25 | $33.5M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $33.4M | — | ||
| Q4 24 | $33.4M | — | ||
| Q3 24 | $33.4M | — | ||
| Q2 24 | $33.3M | — | ||
| Q1 24 | $33.4M | — |
| Q4 25 | $854.5M | $560.4M | ||
| Q3 25 | $858.0M | $537.4M | ||
| Q2 25 | $819.0M | $516.7M | ||
| Q1 25 | $814.7M | $500.4M | ||
| Q4 24 | $758.3M | $485.6M | ||
| Q3 24 | $822.5M | $468.8M | ||
| Q2 24 | $748.4M | $451.6M | ||
| Q1 24 | $719.5M | $439.4M |
| Q4 25 | $7.6B | $667.9M | ||
| Q3 25 | $7.2B | $644.4M | ||
| Q2 25 | $7.2B | $609.5M | ||
| Q1 25 | $7.0B | $590.9M | ||
| Q4 24 | $7.6B | $576.2M | ||
| Q3 24 | $7.5B | $552.9M | ||
| Q2 24 | $7.5B | $527.7M | ||
| Q1 24 | $7.4B | $514.0M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.04× | — | ||
| Q1 24 | 0.05× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $108.3M | $45.1M |
| Free Cash FlowOCF − Capex | $104.1M | $45.0M |
| FCF MarginFCF / Revenue | 60.1% | 13.6% |
| Capex IntensityCapex / Revenue | 2.4% | 0.0% |
| Cash ConversionOCF / Net Profit | 3.08× | 2.18× |
| TTM Free Cash FlowTrailing 4 quarters | $616.8M | $161.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.3M | $45.1M | ||
| Q3 25 | $303.7M | $35.1M | ||
| Q2 25 | $30.4M | $31.5M | ||
| Q1 25 | $188.3M | $50.4M | ||
| Q4 24 | $-71.7M | $27.9M | ||
| Q3 24 | $143.1M | $6.7M | ||
| Q2 24 | $113.2M | $18.0M | ||
| Q1 24 | $203.0M | $11.0M |
| Q4 25 | $104.1M | $45.0M | ||
| Q3 25 | $300.3M | $35.0M | ||
| Q2 25 | $27.7M | $31.4M | ||
| Q1 25 | $184.7M | $50.4M | ||
| Q4 24 | $-73.8M | $27.8M | ||
| Q3 24 | $138.8M | $6.7M | ||
| Q2 24 | $111.0M | $17.8M | ||
| Q1 24 | $201.3M | $10.8M |
| Q4 25 | 60.1% | 13.6% | ||
| Q3 25 | 160.9% | 11.3% | ||
| Q2 25 | 14.1% | 11.2% | ||
| Q1 25 | 67.2% | 18.3% | ||
| Q4 24 | -40.4% | 10.8% | ||
| Q3 24 | 77.3% | 2.9% | ||
| Q2 24 | 58.8% | 9.0% | ||
| Q1 24 | 78.1% | 5.9% |
| Q4 25 | 2.4% | 0.0% | ||
| Q3 25 | 1.8% | 0.0% | ||
| Q2 25 | 1.4% | 0.0% | ||
| Q1 25 | 1.3% | 0.0% | ||
| Q4 24 | 1.1% | 0.0% | ||
| Q3 24 | 2.4% | 0.0% | ||
| Q2 24 | 1.2% | 0.1% | ||
| Q1 24 | 0.7% | 0.1% |
| Q4 25 | 3.08× | 2.18× | ||
| Q3 25 | 7.83× | 1.98× | ||
| Q2 25 | 0.72× | 2.14× | ||
| Q1 25 | 2.51× | 3.65× | ||
| Q4 24 | -2.39× | 2.12× | ||
| Q3 24 | 4.27× | 0.47× | ||
| Q2 24 | 2.52× | 1.93× | ||
| Q1 24 | 2.90× | 1.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
