Executive Summary
- IF Bancorp Inc reported QQ4 2024 revenue of $11.865 million, up 91.7% year over year and 119.8% quarter over quarter, driven by a strong top-line surge that culminated in an operating margin of 14.6% and a net income of $0.431 million ($0.13 per share). Despite the robust revenue delta, pretax income was $0.531 million and net income after taxes stood at $0.431 million, reflecting a material negative swing from other income/expenses and interest costs.
- The quarter highlights a highly liquid balance sheet with substantial investment holdings. Total assets reached $887.7 million and total liabilities $813.8 million, yielding tangible equity of $73.9 million. The liquidity profile is supported by sizable short- and long-term investments (total investments ≈ $381.0 million) and a favorable current ratio, though notable non-current liabilities and an unusual tax asset positioning warrant close monitoring.
- The earnings cadence shows a very strong YoY revenue uplift alongside a compressed net income margin (3.6%) and an annualized earnings profile that suggests profitability is sensitive to interest expense and other non-operating items. The company’s free cash flow generation was positive ($1.091 million) but cash burn from investing/financing activities produced a negative net change in cash for the period. Investors should assess how sustainable the revenue growth is given the current expense structure and balance-sheet complexity.
- Absent an available earnings call transcript in the provided data, management commentary quotes could not be incorporated. The analyst takeaway remains anchored in the disclosed KPIs, balance sheet composition, and the four-quarter trend. The outlook hinges on loan originations, net interest income evolution, and continued liquidity management amid a still-evolving rate environment.
Key Performance Indicators
QoQ: 119.76% | YoY:91.74%
QoQ: -11.13% | YoY:-15.93%
QoQ: 82.33% | YoY:125.49%
QoQ: -39.12% | YoY:-27.81%
QoQ: -40.91% | YoY:-31.58%
Key Insights
Revenue: $11.865 million (Q4 2024) vs. $6.188 million (YoY Q4 2023) for a YoY growth of 91.74%; QoQ revenue growth +119.76% (Q3 2024 to Q4 2024). Gross profit: $4.798 million; Gross margin: 40.44%. Operating income: $1.734 million; Operating margin: 14.61%. Net income: $0.431 million; Net margin: 3.63%. EPS: $0.13; Diluted EPS: $0.13. Interest expense: $6.162 million; Depreciation & amortization: $0.157 million. Total other income/expense: -$1.203 million. Income before tax: $0.531 million; ...
Financial Highlights
Revenue: $11.865 million (Q4 2024) vs. $6.188 million (YoY Q4 2023) for a YoY growth of 91.74%; QoQ revenue growth +119.76% (Q3 2024 to Q4 2024). Gross profit: $4.798 million; Gross margin: 40.44%. Operating income: $1.734 million; Operating margin: 14.61%. Net income: $0.431 million; Net margin: 3.63%. EPS: $0.13; Diluted EPS: $0.13. Interest expense: $6.162 million; Depreciation & amortization: $0.157 million. Total other income/expense: -$1.203 million. Income before tax: $0.531 million; Tax expense: $0.100 million; Cash flow from operations: $1.145 million; Free cash flow: $1.091 million. Net cash used in investing activities: -$11.44 million; Net cash used in financing activities: -$19.074 million; Net change in cash: -$6.489 million; Cash end of period: $9.571 million.
Balance sheet highlights: Total assets $887.745 million; Total liabilities $813.829 million; Stockholders’ equity $73.916 million; Long-term debt $58.249 million; Short-term/deferred tax items show $-174.825 million (tax assets) and $750.171 million (other non-current liabilities). Current ratio 37.67, cash and short-term investments total $200.296 million, with $190.475 million in short-term investments generating liquidity; P/BV 0.727; P/S 4.53; P/E 31.15; Dividend yield 0% (dividends paid $0.64 million in the period).
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
11.87M |
91.74% |
119.76% |
| Gross Profit |
4.80M |
-15.93% |
-11.13% |
| Operating Income |
1.73M |
125.49% |
82.33% |
| Net Income |
431.00K |
-27.81% |
-39.12% |
| EPS |
0.13 |
-31.58% |
-40.91% |
Key Financial Ratios
operatingProfitMargin
14.6%
operatingCashFlowPerShare
$0.36
freeCashFlowPerShare
$0.34
dividendPayoutRatio
148.5%