BAFN
BayFirst Financial Corp.
Next earnings Jul 22, 2026
Last earnings +4.1% on 2026-04-30
$5.39
▲ +10.68%$5.39▼ -62.28%
over 1Y
L $4.55H $15.31
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+10.7%
1W+16.9%
1M-7.2%
3M-20.3%
YTD-31.5%
1Y-62.3%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Micro-cap FL bank at ~0.31x tangible book after a brutal credit year — deep value, but the losses are real and the business is mid-restructuring.
Price / tangible book ~0.31x · 12/31/2025
BayFirst had a genuinely bad 2025: a $22.9M net loss (EPS -$5.93) versus a $12.6M profit in 2024, driven by a $24.6M provision for credit losses and $18.0M of net charge-offs (1.76% of average loans). Credit is deteriorating — nonperforming loans rose to 2.68% of loans from 1.75%, and the allowance was built to 2.42% of loans from 1.54%. At the same time the company is clearly restructuring: full-time employees fell from 299 to 144, and noninterest income collapsed from $60.5M to $18.4M, consistent with a wind-down of its government-guaranteed/SBA loan-sale engine. ROE was -26.2% and equity shrank 21% to $87.6M as losses ate into retained earnings (down 55%). This is not a healthy year by any measure.
And yet the stock trades at $5.39 against a tangible book value of $17.22 per share — roughly 0.31x book. That is the kind of discount markets apply when they fear further book erosion or a capital event, and it can't be dismissed, but it also means a lot of bad news is already in the price. The core spread business is actually improving: net interest income grew to $45.8M from $38.0M and net interest margin held at 3.75%. Deposits grew to $1.18B and cash more than doubled to $207M, so near-term liquidity is not the problem; credit and profitability are.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $24.6M | -$349K | $5.70M | $12.6M | -$22.9M |
| Diluted EPS | $5.91 | -$0.22 | $1.12 | $2.62 | -$5.93 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF0.1
PEG (trailing)—
Earnings yield-79.3%
FCF yield985.1%
Quality & risk
ROIC (est.)—
Free cash flow$285M
Total debt—
Net cash$207M
Capital returns
Buyback yield1.2%
Dividend yield (est.)2.3%
Shareholder yield3.4%
Shares Δ YoY-0.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Reg FD disclosure2026-06-30
Reg FD investor update furnished; no new financial change disclosed
- DEF 14A Proxy statement2026-06-04
Annual proxy: routine director elections and governance votes
- 8-K Officer / director change2026-05-21
Officer/director change announced (Item 5.02)
- 10-Q Quarterly report2026-05-12
Q1'26: first quarter after slashing headcount 299→144; slimmed operations
- 8-K Reg FD disclosure2026-05-05
Reg FD disclosure / investor materials furnished
- 8-K Officer / director change2026-04-30
S-1 registered offering — signals dilutive capital raise ahead
- S-1 Securities registration2026-04-30
S-1 registered offering — signals dilutive capital raise ahead
- 8-K Reg FD disclosure2026-03-31
Reg FD disclosure furnished to investors
- 10-K Annual report2026-03-27
FY25 net loss $22.9M (EPS -$5.93); book value fell to $17.22 on big provisions
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-302026-06-30open ↗DEF 14APeriod ending 2026-06-042026-06-04open ↗3Period ending 2026-05-142026-05-21open ↗8-KPeriod ending 2026-05-142026-05-21open ↗SCHEDULE 13GFiling2026-05-20open ↗PRE 14APeriod ending 2026-05-192026-05-19open ↗4Period ending 2026-02-192026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗
Frequently asked
- Is BayFirst Financial Corp. (BAFN) a buy?
- BAFN currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Micro-cap FL bank at ~0.31x tangible book after a brutal credit year — deep value, but the losses are real and the business is mid-restructuring.
- What is BayFirst Financial Corp.'s quality score?
- BAFN scores 32.83918164087845/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001649739, latest 10-Q filed 2026-05-12) · EODHD · Proprietary analysis · as of 7/4/2026, 4:23:41 AM.
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