Flagstar Bank, National Association FLG

FinancialsBanking ServicesUnited States of America

Last close 10.51 USD on Nov 1, 2026, −16.3% year to date

Quant rating

Quant rating D Rank 620 of 799 in Financials

Growth A 25 of 799
Valuation D 623 of 799
Quality C 523 of 799
Revisions C 506 of 799
Momentum D 765 of 799

Wall Street consensus Buy (2.22)Average target 13.30 USD +26.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.2B
Enterprise value: 5.4B
52-week range: 9.93 – 15.44
3-year range: 7.95 – 33.96
Dividend yield: 0.38%
Beta (5 years): 1.10
Shares outstanding: 401M
Next earnings: Jan 30, 2027

About the company

Flagstar Bank, National Association (the Bank) is a regional bank. The Bank operates over 360 locations across nine states, in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in Florida and the West Coast markets. Its private banking includes personal private banking, residential lending, financial planning, investment management, insurance solutions, and business credit and lending. Its services also include personal banking, small business, and corporate and commercial banking. Its treasury management services include cash flow optimization, payables and fraud, and receivables management. Its banking services include working capital solutions, asset-based lending, expansion, merger and acquisition, syndications, capital markets, interest rate risk management, foreign exchange, and global trade services. Its Flagstar Corporate Connect provides small business and commercial banking online treasury management services.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	4,466	5,953	5,491	2,092	1,689	–
Revenue growth	−25.0%	8.4%	162.5%	23.9%	−1.1%	21.2%
EPS (basic, normalized)	−0.42	−3.04	1.22	3.37	3.71	–
EPS growth	–	–	−63.9%	−9.1%	26.7%	–
Gross margin	–	–	–	–	–	–
Net margin	−4.7%	−19.4%	−2.1%	29.1%	32.9%	7.2%
ROE	−1.9%	−10.6%	6.7%	8.1%	8.4%	2.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	14.0%
Long-term debt (mil)	1,037
Net debt (mil)	–
Total equity (mil)	7,644
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	4,466	−25.0%	1.2x	18.36	−3.9%	0.6x	−0.37	+86.1%	−28.4x
2026	1,893	−57.6%	2.8x	19.92	+8.5%	0.5x	0.27	+173.2%	38.8x
2027	2,332	+23.2%	2.3x	21.21	+6.5%	0.5x	0.92	+239.6%	11.4x
2028	2,686	+15.2%	2.0x	24.14	+13.8%	0.4x	1.55	+68.1%	6.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,893	−2.2%	−2.2%	−9.5%	0.27	−18.5%	−21.0%	−41.6%
2027	2,332	−4.7%	−5.4%	−11.7%	0.92	−30.2%	−32.4%	−40.2%
2028	2,686	−7.0%	−11.0%	−18.0%	1.55	−18.5%	−24.0%	−35.0%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	624	557	510	461	410	419	425	438	443	440
Sales mean (mil)	651	601	513	482	455	451	441	480	520	492
Surprise	−4.2%	−7.3%	−0.5%	−4.4%	−9.8%	−7.1%	−3.7%	−8.7%	−14.9%	−10.5%
EPS reported	−0.75	−1.05	−0.69	−0.34	−0.23	−0.14	−0.07	0.06	0.04	0.05
EPS mean	−0.45	−0.42	−0.40	−0.54	−0.28	−0.13	−0.07	0.02	0.03	0.07
Surprise	−66.1%	−150.7%	−71.4%	+37.3%	+17.8%	−8.2%	−0.7%	+179.1%	+23.7%	−25.4%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
FLG Flagstar Bank, National Association	4.2B	14.0%	−4.7%	1.11x	38.8x	11.4x	0.5x	0.5x
JPM JPMorgan Chase & Co.	895.9B	15.2%	28.8%	1.74x	13.6x	13.2x	2.5x	2.3x
BAC Bank of America Corporation	346.2B	14.0%	21.0%	1.72x	11.3x	9.7x	1.3x	1.2x
WFC Wells Fargo & Company	250.4B	11.4%	23.2%	1.47x	11.4x	10.4x	1.5x	1.4x
USB U.S. Bancorp	92.6B	12.2%	23.2%	1.36x	11.2x	10.1x	1.5x	1.4x
PNC The PNC Financial Services Group, Inc.	90.5B	11.1%	26.0%	1.35x	12.0x	10.7x	1.6x	1.4x
Mean		13.0%	19.6%	1.46x	16.4x	10.9x	1.5x	1.4x
Median		13.1%	23.2%	1.41x	11.7x	10.5x	1.5x	1.4x

Technical analysis

1M−12.7%
3M−24.8%
1Y−10.2%
3Y−60.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Flagstar Bank, National Association, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	4,466	5,953	5,491	2,092	1,689	1,708
Total interest expense	2,745	3,801	2,414	696	400	608
Net interest income	1,721	2,152	3,077	1,396	1,289	1,100
Loan loss provision	184	1,092	833	133	3.0	–
Net interest income after loan loss provision	1,537	1,060	2,244	1,263	1,286	1,100
Non-interest income	341	400	2,687	247	61.0	61.1
Non-interest expense	−2,076	−2,838	−4,981	−684	−541	−573
Net income before taxes	−198	−1,378	−50.0	826	806	588
Provision for taxes	−21.0	−260	29.0	176	210	145
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	−177	−1,118	−79.0	650	596	443
Extraordinary items	–	–	–	–	–	68.4
Net income	−177	−1,118	−79.0	650	596	511
Basic weighted average shares (mil)	415	331	238	161	155	154
Diluted weighted average shares (mil)	415	331	238	161	155	154
Basic EPS excluding extraordinary items	−0.51	−3.49	−0.49	3.78	3.60	2.62
Basic EPS, normalized	−0.42	−3.04	1.22	3.37	3.71	2.92

Balance sheet in millions of USD, fiscal years

Balance sheet, Flagstar Bank, National Association, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	553	15,430	11,475	2,032	2,211	1,948
Other earning assets	21,372	12,461	11,733	11,456	6,530	6,676
Net loans	59,702	67,071	83,627	68,608	45,539	42,690
Property, plant & equipment	857	978	1,078	491	519	554
Goodwill	–	–	0	2,426	2,426	2,426
Intangibles	381	514	1,736	1,320	–	–
Long-term investments	–	–	–	–	–	–
Other long-term assets	–	–	–	–	–	–
Other assets	4,647	3,706	4,408	3,811	2,302	2,012
Total assets	87,512	100,160	114,057	90,144	59,527	56,306
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	427	463	446	122	249	267
Total deposits	66,000	75,870	81,526	58,721	35,059	32,437
Other bearing liabilities	11,151	13,400	19,250	20,325	15,105	14,628
Short-term borrowings	–	0	1,000	0	800	800
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	1,033	1,026	1,017	1,007	657	656
Minority interest	–	–	–	–	–	–
Other liabilities	758	1,233	2,451	1,145	613	677
Total liabilities	79,369	91,992	105,690	81,320	52,483	49,464
Shareholders' equity
Preferred stock	504	504	–	–	–	–
Common stock	4.0	4.0	7.0	7.0	5.0	4.9
Additional paid-in capital	9,303	9,282	8,231	8,130	6,126	6,123
Retained earnings (accumulated deficit)	−988	−763	443	1,041	741	494
Treasury stock	−190	−219	−218	−237	−246	−258
Other equity	−490	−640	−96.0	−117	418	477
Total equity	8,143	8,168	8,367	8,824	7,044	6,842
Total liabilities & shareholders' equity	87,512	100,160	114,057	90,144	59,527	56,306

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Flagstar Bank, National Association, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−177	−1,118	−79.0	650	596	511
Depreciation, depletion & amortization	148	184	165	18.0	21.0	23.9
Deferred taxes	−63.0	−411	−187	−3.0	−13.0	219
Non-cash items	−189	433	563	−164	26.0	40.5
Changes in working capital	100	998	−199	525	−340	−461
Cash from operations	−181	86.0	263	1,026	290	334
Investing activities
Capital expenditures	−67.0	−36.0	−66.0	−3.0	−4.0	–
Other investing cash flows	2,754	15,489	20,739	−6,320	−2,758	−1,025
Cash from investing	2,687	15,453	20,673	−6,323	−2,762	−1,025
Financing activities
Financing cash flow items	−9,790	−5,644	−10,804	7,473	2,622	780
Cash dividends paid	−48.0	−88.0	−519	−350	−349	−348
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−2,250	−5,857	−86.0	−1,955	462	1,466
Cash from financing	−12,088	−11,589	−11,409	5,168	2,735	1,897
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−9,582	3,950	9,527	−129	263	1,206
Free cash flow	−248	50.0	197	1,023	286	334

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.