10-Q · May 8, 2026
Capitol Federal Financial, Inc. reported Q2 2026 results indicating a revenue of $53.2 million, slightly below the consensus estimate of $57.5 million. There was steady performance in net income and EPS, both reported…
Earnings analysis · 10-Q
CFFN earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Capitol Federal reported diluted EPS of $0.19 versus a $0.17 consensus estimate, but revenue of $53.483 million missed the $59.24 million estimate. The filing shows improved projected net interest income and a $1.190…
Read full summary
Capitol Federal reported diluted EPS of $0.19 versus a $0.17 consensus estimate, but revenue of $53.483 million missed the $59.24 million estimate. The filing shows improved projected net interest income and a $1.190 billion MVPE, supported by continued commercial-loan growth and lower FHLB borrowings. Offsetting these positives, the one-year interest-rate gap deteriorated to a $1.131 billion deficiency, or 11.7% of assets, and modeled MVPE remains highly sensitive to rising rates.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.19
What stood out
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MVPE increased year to date
Estimated market value of portfolio equity increased to $1.190 billion at June 30, 2026 from $1.162 billion at September 30, 2025, supported by balance-sheet repositioning toward commercial loans and tighter mortgage-related asset discount spreads.
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Higher projected net interest income
Base-case projected net interest income was $234.675 million for the cumulative four-quarter period at June 30, 2026, versus $210.700 million at September 30, 2025, primarily reflecting higher average loan rates and lower FHLB borrowings.
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Commercial loan mix expanding
Commercial lending is increasingly rate-sensitive: adjustable-rate commercial loans totaled $1.557 billion at a 5.92% yield, while fixed-rate commercial loans totaled $916.185 million at a 5.79% yield.
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Meaningful share repurchases
The company repurchased 1,837,832 shares during the quarter at an average price of $7.73, leaving $25.218 million authorized under the existing plan at June 30, 2026.
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EPS beat despite revenue miss
The reported diluted EPS of $0.19 exceeded the $0.17 consensus estimate by $0.02, or 11.8%, although reported revenue of $53.483 million was below the $59.24 million estimate.
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Overdraft litigation dismissed
The APPSN overdraft-fee class-action lawsuit was dismissed with prejudice on July 16, 2026, reducing uncertainty around that specific legal proceeding.
What to watch
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Worsening one-year rate gap
The one-year interest-rate gap was a $1.131 billion deficiency, equal to 11.7% of total assets, compared with a $983.6 million deficiency, or 10.1%, at September 30, 2025. A larger liability repricing exposure could pressure earnings if rates rise.
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Rate-shock sensitivity
Under an instantaneous 200-basis-point rate increase, the projected one-year gap widened to a $1.280 billion deficiency, or 13.2% of total assets; under a 200-basis-point decrease, it was a $669.0 million deficiency, or 6.9%.
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Long-duration asset exposure
A 300-basis-point rate increase reduced estimated MVPE by $423.623 million, or 35.6%, from the base case at June 30, 2026, underscoring the balance sheet's exposure to long-duration fixed-rate assets.
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Deposit behavior assumption risk
If all non-maturity deposits were treated as non-core, liabilities repricing within one year would exceed comparable assets by $3.98 billion, or 41.2% of total assets, versus the reported gap based on core-deposit assumptions.
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Mortgage portfolio concentration
Fixed-rate one- to four-family loans totaled $4.718 billion and had a 6.6-year weighted-average life, making the portfolio sensitive to changes in long-term rates, mortgage prepayments, and valuation spreads.
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No formal risk-factor additions
The company reported no material changes to the risk factors disclosed in the fiscal 2025 Form 10-K; the filing therefore adds no formal new risk-factor category as of June 30, 2026.
Management's outlook
No quantitative revenue or EPS guidance is included in the supplied 10-Q text. Prior commercial-loan and total-loan outlook was provided in the July 29, 2026 earnings release rather than this filing.
Earlier filings 4
10-Q · February 6, 2026
Capitol Federal reported a stronger quarter with net income of $20,304,000 and diluted EPS of $0.16 for the three months ended December 31, 2025, up from $15,431,000 and $0.12 a year ago. Net interest income expanded to…
10-Q · May 9, 2025
Capitol Federal reported a quarter of modest improvement: total interest and dividend income was $98,175,000 and non‑interest income was $4,953,000, giving implied total revenue of $103,128,000 for the three months…
10-K · November 27, 2024
Capitol Federal positions itself as a community-focused savings bank with a portfolio-oriented mortgage lending strategy, emphasis on deposit gathering and treasury management, and a capital-return focus (dividends and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.