SoFi Technologies

SOFI · Nasdaq · Financials · Financials, fiscal 2019 to 2025

SOFI · Last close · October 26, 2026

$14.46

SoFi Technologies' revenue rose 35.1% to $3.6 billion in fiscal 2025. Net income was $481 million, down 3.5%. Its return on equity was 5.7%, down from 8.5% a year earlier. Its efficiency ratio was 84.6%, down from 90.1% a year earlier. The diluted share count rose 13.7%.

SoFi Technologies, Inc. Latest fiscal year ended December 31, 2025 10-K filed February 17, 2026 · 0001818874-26-000013 Updated October 11, 2026

Revenue

$3.6B

35.1%

Net income

$481M

3.5%

Return on equity

5.7%

2.8 pts

Return on tangible equity

7.0%

4.5 pts

Efficiency ratio

84.6%

5.5 pts

Market cap

$19.5B

Oct 26 close

P/E

29.5x

On $0.49 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

About these figures. SoFi carries most of its loans at fair value, separately from the loans it holds at cost, and its filings tag no total, so loans and the ratios built on them are left blank.

What SoFi Technologies does

SoFi is a digital bank for consumers, mostly in the United States. Through one mobile app, its members can take out personal, student and home loans, keep checking and savings accounts, use a credit card, buy and sell stocks and crypto, and get tools for tracking their money. SoFi says it has served about 13.6 million members since it started. It also sells banking software to other companies.

SoFi reports three segments. Lending earns interest and fees on the loans it makes; it can keep loans on its books or sell them to large financial institutions and through securitizations, which bundle loans into bonds. Financial Services covers the checking and savings accounts, investing, credit cards and services for employers and partner lenders. Technology Platform, built on its Galileo and Technisys businesses, rents out payment and core banking systems to banks, government bodies and other firms, mainly in North and Latin America.

SoFi is a bank holding company, and its national bank, SoFi Bank, now makes all its new loans. Deposits there give it a cheaper way to fund loans than borrowing, and accounts can get federal deposit insurance of up to $3 million through a network of banks. At the end of 2025 it had about 6,100 employees, 82% of them in the United States.

Its biggest risks, as it describes them

Making poor credit and pricing decisions, or underestimating how many borrowers will fail to repay their loans.
Its reliance on a small number of buyers for the loans it sells and of partners in its loan platform business.
Changes in interest rates that cut demand for its loans and its checking and savings accounts.
Galileo and Technisys depend on a few large clients, and losing any of them could hurt those businesses.
Its gain-on-sale model ties its results to the cost and availability of funding in the capital markets.

From SoFi Technologies's annual report on Form 10-K, filed February 17, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new 10-K.

Charts show fiscal years, from the 10-K filings.

Revenue and returns

Revenue

US$ billions, fiscal years. Revenue is net of interest expense.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Net income and earnings per share

From fiscal 2024 to 2025, earnings per share grew 0.0% a year and net income fell 3.5% a year, as new shares raised the share count by 14% and diluted each share's earnings.

Net income

US$ billions, fiscal years; loss years in red.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Efficiency and income mix

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

Payouts and share count

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, billions

Valuation

Value SoFi Technologies yourself from its earnings. A bank's cash flow is mostly the money it lends and takes in, so the cash flow model on other company pages doesn't suit it.

What SoFi Technologies says to expect

Full year 2026: adjusted net revenueManagement now expects to deliver adjusted net revenue of approximately $4.75 billion to $4.85 billion which implies approximately 32% to 35% annual adjusted net revenue growth year-over-year.
Full year 2026: adjusted EBITDAManagement continues to expect adjusted EBITDA of approximately $1.6 billion, which equates to an annual adjusted EBITDA margin of approximately 33% to 34%.
Full year 2026: adjusted net income and EPSManagement also continues to expect adjusted net income of approximately $825 million, which equates to a margin of approximately 17%, and adjusted EPS of approximately 60 cents per share.
Full year 2026: member growthFor 2026, management continues to expect to increase total members by at least 30% year-over-year.

The company's own words, from its earnings release (Form 8-K, Exhibit 99), filed July 29, 2026. They are its expectations, not ours, and not a forecast or price target from The Filing Desk. Replaced when the next release is out.

Price-to-earnings (P/E) method

Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.

Value per share on three example scenarios, from SoFi Technologies' earnings per share of $0.49 (over the last four quarters). Each grows earnings for a year at the cash flow scenarios' rates and applies a multiple to next year's earnings: 13.8×, the middle of SoFi Technologies' own P/E today, its peers' median and its sector's median (the Financials median) for the base scenario, 20% less and more for the cautious and optimistic ones. The price is brought back a year at 13%, 12% and 11%. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

Earnings per share, US$

Diluted earnings per share over the four quarters to June 30, 2026, from the 10-Qs and 10-K.

P/E multiple

P/E today is the last close divided by the latest earnings per share, the four quarters' where available. Peers: SLM, Ally Financial, Synchrony Financial, Capital One.

Earnings growth in the years ahead (% a year) Starts at SoFi Technologies' revenue growth over the last 3 years, 31.9% a year, kept between 0% and 20%, as the base scenario does.

Earnings per share in the years ahead, US$

Year 1Year 2Year 3Year 4Year 5

Type your own estimate for any year; the years after it carry on at the growth rate.

Apply the multiple to earnings

A multiple on a future year's earnings gives the price then, brought back to today at the discount rate below.

Discount rate (% a year) The yearly return an investor wants for the risk, as in the cash flow model.

Value per share today at this multiple

—

Last close, October 26, 2026: $14.46
Value at this multiple, against the last close: —
SoFi Technologies' P/E at the last close: 29.5×

Company	Last close	Earnings per share	P/E today
SoFi TechnologiesSOFI	$14.46	$0.49	29.5×
Capital OneCOF	$202.35	$16.70	12.1×
Ally FinancialALLY	$38.81	$4.25	9.1×
Synchrony FinancialSYF	$74.83	$9.60	7.8×
SLMSLM	$19.62	$2.75	7.1×

How the P/E method works. Value per share is earnings per share times the multiple. On a future year's earnings, that gives the price in that year, which is brought back to today at the discount rate: price ÷ (1 + discount rate) for each year ahead. It is quick and easy to compare across companies, but it ignores debt and cash, and earnings can swing with one-off gains and charges, so a multiple says most about steady, profitable businesses. Like the cash flow model, the result depends entirely on the assumptions you choose. It is not a forecast, a price target or a recommendation.

Balance sheet

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	—	—	—	—	—
Deposits	0	7,342	18,621	25,978	37,505
Loans to deposits	—	—	—	—	—
Provision for credit losses	8	54	55	32	30
Provision to average loans	—	—	—	—	—
Total assets	9,176	19,008	30,075	36,251	50,660
Shareholders' equity	4,377	5,208	5,235	6,525	10,490

US$ millions unless stated, at each fiscal year end.

Insider trades

Over the 12 months between October 27, 2025 and October 26, 2026, 3 insiders bought $2.5 million of SoFi Technologies shares on the open market, and 5 insiders sold $11.7 million, $9.8 million of it under trading plans set up in advance.

Date	Insider	Trade	Shares	Price	Value	Filing
Oct 20, 2026	Kelli KeoughEVP, Gbul, Sips	Sold plan	10,203	$14.72	$150,215	Form 4
Sep 21, 2026	Jeremy RishelChief Technology Officer	Sold plan	18,624	$17.50	$325,920	Form 4
Sep 21, 2026	Kelli KeoughEVP, Gbul, Sips	Sold plan	10,203	$16.99	$173,349	Form 4
Aug 20, 2026	Kelli KeoughEVP, Gbul, Sips	Sold plan	11,286	$18.00	$203,148	Form 4
Jul 20, 2026	Kelli KeoughEVP, Gbul, Sips	Sold plan	10,954	$17.19	$188,299	Form 4
Jun 22, 2026	Kelli KeoughEVP, Gbul, Sips	Sold plan	10,954	$17.35	$190,052	Form 4
Jun 18, 2026	Robert S LavetGeneral Counsel	Sold	1,188	$17.55	$20,849	Form 4
Jun 17, 2026	Jeremy RishelChief Technology Officer	Sold plan	102,123	$17.78	$1.8 million	Form 4
Jun 16, 2026	Anthony NotoChief Executive Officer, Director	Bought	13,888	$18.06	$250,817	Form 4
May 20, 2026	Kelli KeoughEVP, Gbul, Sips	Sold plan	10,037	$15.53	$155,875	Form 4
May 11, 2026	Anthony NotoChief Executive Officer, Director	Bought	15,545	$16.00	$248,720	Form 4
May 8, 2026	Anthony NotoChief Executive Officer, Director	Bought	15,878	$15.73	$249,761	Form 4

The latest 12 of 26 trades. Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put SoFi Technologies side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
SoFi Technologies	FY25	35.1%	13.3%	5.7%	7.0%	84.6%
SLM	FY25	7.3%	37.5%	32.3%	32.4%	33.2%	Compare
Ally Financial	FY25	−3.3%	10.8%	5.8%	6.2%	68.1%	Compare
Synchrony Financial	FY25	−2.8%	18.7%	21.3%	24.6%	27.1%	Compare
Capital One	FY25	36.6%	4.6%	2.8%	3.8%	57.1%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

7 years of figures

Fiscal year	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	443	566	985	1,574	2,123	2,675	3,613
Revenue growth	—	27.8%	74.2%	59.8%	34.9%	26.0%	35.1%
Net interest income	330	178	252	584	1,262	1,716	2,219
Noninterest income	113	388	733	989	861	958	1,394
Noninterest expense	682	894	1,466	1,838	2,369	2,410	3,057
Provision for credit losses	—	0	8	54	55	32	30
Net income	−240	−224	−484	−320	−301	499	481
Diluted EPS (US$)	−4.02	−4.30	−1.00	−0.40	−0.36	0.39	0.39
Diluted shares (millions)	66	74	527	901	945	1,101	1,252
Payouts
Dividends paid	0	0	0	0	0	0	0
Share buybacks	9	0	0	0	0	0	0
Balance sheet at fiscal year end
Loans, net	—	—	—	—	—	—	—
Deposits	—	—	0	7,342	18,621	25,978	37,505
Total assets	—	8,564	9,176	19,008	30,075	36,251	50,660
Shareholders' equity	−339	−120	4,377	5,208	5,235	6,525	10,490
Ratios
Return on equity	—	—	−22.7%	−6.7%	−5.8%	8.5%	5.7%
Return on tangible common equity	—	36.7%	−57.6%	−11.4%	−10.3%	11.5%	7.0%
Return on assets	—	—	−5.5%	−2.3%	−1.2%	1.5%	1.1%
Efficiency ratio	154.1%	158.1%	148.9%	116.8%	111.6%	90.1%	84.6%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: SoFi Technologies' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with SoFi Technologies.