BayFirst Financial (BAFN)
Market Price (5/13/2026): $6.76 | Market Cap: $27.8 MilSector: Financials | Industry: Regional Banks
BayFirst Financial (BAFN)
Market Price (5/13/2026): $6.76Market Cap: $27.8 MilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -652% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 508%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 507% Attractive yieldDividend Yield is 2.3%, FCF Yield is 998% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. | Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -113% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -30%, Rev Chg QQuarterly Revenue Change % is -52% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -82% Key risksBAFN key risks include [1] substantial financial volatility and execution risk stemming from its strategic pivot to exit the Small Business Administration (SBA) lending business. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -652% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 508%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 507% |
| Attractive yieldDividend Yield is 2.3%, FCF Yield is 998% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments. |
| Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -113% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -30%, Rev Chg QQuarterly Revenue Change % is -52% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -82% |
| Key risksBAFN key risks include [1] substantial financial volatility and execution risk stemming from its strategic pivot to exit the Small Business Administration (SBA) lending business. |
Qualitative Assessment
AI Analysis | Feedback
BayFirst Financial (BAFN) stock has gained about 35% since 1/31/2026 because of the following key factors:
1. Significant Deterioration in Q1 2026 Financial Performance. BayFirst Financial reported a substantial net loss of $5.7 million, or $1.48 per common share, for the first quarter of 2026, a significant increase from a $2.5 million net loss in Q4 2025. This was compounded by a decline in net interest income to $9.4 million and a narrowed net interest margin of 3.42%, down 16 basis points from the prior quarter and 35 basis points year-over-year. The company also experienced a contraction in its balance sheet, with loans held for investment decreasing by 3.5% and deposits falling by 8.3% during the first quarter.
2. Strategic Exit from SBA 7(a) Lending and Lingering Asset Quality Issues. The company's strategic decision to discontinue SBA 7(a) lending led to a sharp decrease in noninterest income, which dropped to $0.9 million in Q1 2026 from $8.8 million a year prior due to lower gains on government-guaranteed loan sales. Furthermore, the legacy unguaranteed portion of the SBA 7(a) loan portfolio continued to negatively impact asset quality, driving elevated net charge-offs of $4.4 million in Q1 2026, an increase from $3.3 million in the same quarter last year. Approximately $100 million of the bank's $159 million unguaranteed SBA portfolio carried reserves near 13%, indicating ongoing credit concerns.
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1. Significant Deterioration in Q1 2026 Financial Performance. BayFirst Financial reported a substantial net loss of $5.7 million, or $1.48 per common share, for the first quarter of 2026, a significant increase from a $2.5 million net loss in Q4 2025. This was compounded by a decline in net interest income to $9.4 million and a narrowed net interest margin of 3.42%, down 16 basis points from the prior quarter and 35 basis points year-over-year. The company also experienced a contraction in its balance sheet, with loans held for investment decreasing by 3.5% and deposits falling by 8.3% during the first quarter.
2. Strategic Exit from SBA 7(a) Lending and Lingering Asset Quality Issues. The company's strategic decision to discontinue SBA 7(a) lending led to a sharp decrease in noninterest income, which dropped to $0.9 million in Q1 2026 from $8.8 million a year prior due to lower gains on government-guaranteed loan sales. Furthermore, the legacy unguaranteed portion of the SBA 7(a) loan portfolio continued to negatively impact asset quality, driving elevated net charge-offs of $4.4 million in Q1 2026, an increase from $3.3 million in the same quarter last year. Approximately $100 million of the bank's $159 million unguaranteed SBA portfolio carried reserves near 13%, indicating ongoing credit concerns.
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Stock Movement Drivers
Fundamental Drivers
The 33.4% change in BAFN stock from 1/31/2026 to 5/12/2026 was primarily driven by a 57.6% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5122026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.21 | 6.95 | 33.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 67 | 56 | -15.9% |
| P/S Multiple | 0.3 | 0.5 | 57.6% |
| Shares Outstanding (Mil) | 4 | 4 | 0.6% |
| Cumulative Contribution | 33.4% |
Market Drivers
1/31/2026 to 5/12/2026| Return | Correlation | |
|---|---|---|
| BAFN | 33.4% | |
| Market (SPY) | 3.6% | 19.2% |
| Sector (XLF) | -3.0% | 18.7% |
Fundamental Drivers
The 2.1% change in BAFN stock from 10/31/2025 to 5/12/2026 was primarily driven by a 43.8% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5122026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.81 | 6.95 | 2.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 80 | 56 | -29.4% |
| P/S Multiple | 0.4 | 0.5 | 43.8% |
| Shares Outstanding (Mil) | 4 | 4 | 0.5% |
| Cumulative Contribution | 2.1% |
Market Drivers
10/31/2025 to 5/12/2026| Return | Correlation | |
|---|---|---|
| BAFN | 2.1% | |
| Market (SPY) | 5.5% | 19.7% |
| Sector (XLF) | -0.7% | 17.2% |
Fundamental Drivers
The -39.3% change in BAFN stock from 4/30/2025 to 5/12/2026 was primarily driven by a -30.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5122026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.46 | 6.95 | -39.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 80 | 56 | -30.2% |
| P/S Multiple | 0.6 | 0.5 | -13.6% |
| Shares Outstanding (Mil) | 4 | 4 | 0.5% |
| Cumulative Contribution | -39.3% |
Market Drivers
4/30/2025 to 5/12/2026| Return | Correlation | |
|---|---|---|
| BAFN | -39.3% | |
| Market (SPY) | 30.4% | 13.2% |
| Sector (XLF) | 7.4% | 12.5% |
Fundamental Drivers
The -33.4% change in BAFN stock from 4/30/2023 to 5/12/2026 was primarily driven by a -30.2% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5122026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.44 | 6.95 | -33.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 58 | 56 | -2.9% |
| P/S Multiple | 0.7 | 0.5 | -30.2% |
| Shares Outstanding (Mil) | 4 | 4 | -1.8% |
| Cumulative Contribution | -33.4% |
Market Drivers
4/30/2023 to 5/12/2026| Return | Correlation | |
|---|---|---|
| BAFN | -33.4% | |
| Market (SPY) | 78.7% | 11.9% |
| Sector (XLF) | 63.2% | 14.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BAFN Return | -5% | -25% | -20% | 5% | -40% | -16% | -70% |
| Peers Return | 29% | -28% | 25% | 8% | 29% | -0% | 62% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| BAFN Win Rate | 0% | 50% | 33% | 50% | 33% | 20% | |
| Peers Win Rate | 44% | 50% | 56% | 50% | 65% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| BAFN Max Drawdown | -8% | -31% | -45% | -14% | -50% | -33% | |
| Peers Max Drawdown | -6% | -35% | -27% | -14% | -13% | -15% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NEWT, ATLO, AGBK, NU, FITB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/12/2026 (YTD)
How Low Can It Go
| Event | BAFN | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -33.6% | -9.5% |
| % Gain to Breakeven | 50.6% | 10.5% |
| Time to Breakeven | 106 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -30.9% | -6.7% |
| % Gain to Breakeven | 44.7% | 7.1% |
| Time to Breakeven | 615 days | 31 days |
In The Past
BayFirst Financial's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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Asset Allocation
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| Event | BAFN | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -33.6% | -9.5% |
| % Gain to Breakeven | 50.6% | 10.5% |
| Time to Breakeven | 106 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -30.9% | -6.7% |
| % Gain to Breakeven | 44.7% | 7.1% |
| Time to Breakeven | 615 days | 31 days |
In The Past
BayFirst Financial's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About BayFirst Financial (BAFN)
N/A
AI Analysis | Feedback
- A community bank in Florida, like a local version of a regional bank such as Truist.
- Imagine a much smaller, community-focused Bank of America for the Tampa Bay area.
AI Analysis | Feedback
- Commercial Loans: Provides financing solutions for businesses, including commercial real estate, construction, and government-guaranteed Small Business Administration (SBA) loans.
- Retail Banking Services: Offers a range of personal banking products such as checking, savings, money market accounts, certificates of deposit, and consumer loans including residential mortgages.
- Mortgage Banking: Originates and processes residential mortgage loans for individual customers and through strategic partnerships with other financial institutions.
AI Analysis | Feedback
BayFirst Financial (symbol: BAFN) primarily serves individuals and businesses by providing a range of financial products and services through its banking operations. Its major customer categories include:- Individuals (Retail Customers): This segment includes consumers seeking personal banking products such as checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, and various consumer loans.
- Small and Medium-sized Businesses: This category encompasses local and regional businesses utilizing commercial checking and savings accounts, treasury management services, commercial real estate loans, equipment financing, and lines of credit.
- Borrowers of Government-Guaranteed Loans: BayFirst Financial is particularly active in Small Business Administration (SBA) lending, serving small businesses that seek government-backed loans for purposes such as business acquisition, expansion, real estate, and working capital.
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Thomas G. Zernick, Chief Executive Officer
- Mr. Zernick was appointed Chief Executive Officer of BayFirst Financial Corp. and BayFirst National Bank effective January 1, 2024.
- He joined BayFirst in 2016.
- Prior to his CEO appointment, he served as President of the company since February 2022 and previously as President of its CreditBench Division.
- Before joining BayFirst, he served as Florida Market President for Stearns Bank and as an SBA Product Manager for HomeBanc in Tampa.
- He also served as a Community Bank President and SBA President for Republic Bank in Michigan.
- Mr. Zernick received his BBA from the University of Notre Dame.
Scott J. McKim, EVP, Chief Financial Officer
- Mr. McKim serves as Chief Financial Officer for BayFirst Financial Corp. and BayFirst National Bank, having joined BayFirst in 2023.
- He is a financial services veteran with over 25 years of experience.
- Prior to BayFirst, he served as Chief Strategy Officer at 121 Financial Credit Union since June 2022.
- His previous roles include CFO and Chief Lending Officer of Publix Employees Federal Credit Union, Chief Lending Officer for American Heritage Federal Credit Union, and leadership roles at multiple financial institutions, including Director of Corporate Finance and a Divisional CFO for Huntington Bancshares.
- Mr. McKim holds an MBA from The Ohio State University and a Bachelor's Degree in Accounting from Bowling Green University.
Robin L. Oliver, President and Chief Operating Officer
- Mrs. Oliver serves as President and Chief Operating Officer for BayFirst Financial Corp. and BayFirst National Bank, effective January 1, 2024.
- She joined BayFirst in 2018 and held the role of Chief Operating Officer since 2022.
- Before BayFirst, Mrs. Oliver served as Controller for a financial institution in Kentucky.
- She spent the first 16 years of her career in public accounting as an auditor with Crowe LLP, serving multiple financial institution clients.
- Mrs. Oliver is a Certified Public Accountant and received her BA in Accounting from the University of Kentucky.
Brandi N. Jaber, EVP, Chief Administrative Officer
- Ms. Jaber serves as the Executive Vice President and Chief Administrative Officer for BayFirst.
- She joined the Bank in November 2017 and previously served as the Chief Production Officer.
- Prior to BayFirst, Ms. Jaber accumulated over 17 years of experience in various management roles within the residential mortgage industry.
- She holds a BS in Finance from the University of Florida and an MBA from the University of Tampa.
Adam M. Curtis, EVP, Chief Lending Officer and Market Executive
- Mr. Curtis serves as Executive Vice President and Chief Lending Officer at BayFirst National Bank.
- He joined BayFirst in 2022 as Senior Vice President and Market Executive.
- Before BayFirst, Mr. Curtis was Executive Vice President and Chief Lending Officer at Freedom Bank.
- He brings over 25 years of experience in commercial and retail banking and has held senior leadership positions with Seacoast Bank.
- Mr. Curtis earned his undergraduate degree from Florida State University and completed executive banking programs at the LSU Graduate School of Banking and the University of Florida's Florida School of Banking.
AI Analysis | Feedback
BayFirst Financial (BAFN) faces several key risks as it navigates a significant strategic transformation and a challenging economic landscape.Key Risks to BayFirst Financial (BAFN)
- Challenges in Strategic Transformation and Return to Profitability: BayFirst Financial is undergoing a substantial strategic pivot, exiting its national SBA 7(a) lending business to concentrate on a traditional community banking model in the Tampa Bay-Sarasota region. This strategic shift involved the sale of SBA loans and resulted in significant net losses in the third and fourth quarters of 2025, and for the first nine months of that year, marking a sharp reversal from previous net income. These losses were driven by one-time charges related to the SBA exit and increased credit provisions. The successful execution of this restructuring and a return to sustained profitability within its refocused community banking operations are critical for the company's future.
- Deterioration of Asset Quality and Elevated Credit Risk: The company has experienced an increase in nonperforming loans, particularly those not backed by government guarantees. Credit loss provisions surged in 2025, indicating rising credit risk within its loan portfolio. This deterioration in asset quality is particularly concerning in a higher interest rate environment, which can put pressure on borrowers and potentially lead to further loan defaults.
- Funding Cost and Liquidity Management: BayFirst Financial has shown an increased reliance on wholesale funding sources, such as advances from the Federal Home Loan Bank (FHLB), to support its liquidity and loan portfolio. Additionally, there has been an uptick in the use of brokered deposits, which are generally more expensive and sensitive to interest rate fluctuations. This increased dependence on these funding channels could lead to higher overall funding costs for the bank and expose it to greater interest rate sensitivity and liquidity risks in a competitive deposit market.
AI Analysis | Feedback
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BayFirst Financial (symbol: BAFN) operates primarily through its wholly-owned subsidiary, BayFirst National Bank, focusing on a community banking model within the Tampa Bay-Sarasota region of Florida. The company has strategically shifted away from national government-guaranteed lending (specifically smaller SBA 7(a) loans) and national residential mortgage lending to emphasize local, relationship-driven growth. The addressable markets for BayFirst Financial's main products and services are as follows:Residential Mortgage Loans
The U.S. home loan market reached **USD 2.42 trillion in 2026** and is projected to grow to USD 3.17 trillion by 2031. BayFirst Financial offers residential mortgage lending specifically within the Tampa Bay area.Small Business Loans (including Commercial & Industrial Loans and Construction Lending)
The U.S. small business loan market was valued at **$245.39 billion in 2023** and is projected to reach **$349.64 billion by 2033**, growing at a Compound Annual Growth Rate (CAGR) of 3.4% from 2024 to 2033. BayFirst Financial focuses on commercial and industrial (C&I) loans and construction lending for businesses in the Tampa Bay region.SBA Loans
The U.S. Small Business Administration (SBA) provided **$37.8 billion in 7(a) and 504 funding in fiscal year 2024** (October 1, 2023, through September 30, 2024). This total included $31.1 billion in 7(a) loans and $6.7 billion in 504 loans. While BayFirst Financial exited its national small-dollar SBA 7(a) "Bolt" loan program in Q4 2025, it intends to continue offering larger SBA loans.AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for BayFirst Financial (BAFN) over the next 2-3 years:
- Enhanced Focus on Community Banking within the Tampa Bay and Sarasota Markets: BayFirst Financial has explicitly stated its strategic shift to focus on being the "premier community bank in Tampa Bay." This involves delivering excellent service to customers across the Tampa Bay and Sarasota markets and growing traditional banking services. The bank aims for sustained organic deposit growth, which is identified as a key pillar of its community banking model.
- Expansion of Conventional Commercial and Consumer Loan Portfolios: Following the exit from the SBA 7(a) lending business, BayFirst Financial is pivoting its loan origination strategy. Management highlighted a continued focus on expanding its conventional commercial and consumer loan portfolios, driven by consistent demand within the greater Tampa Bay region. This shift is expected to contribute to more stable and predictable revenue streams.
- Growth in Treasury Management and Merchant Services Revenue: BayFirst Financial has identified treasury management and merchant services as a growing, recurring revenue stream. The bank saw a significant surge of 69% in revenue from these services compared to the previous year, indicating successful traction with business clients in its target markets. This area is crucial for replacing volatile income previously generated from SBA-related activities with more stable, relationship-driven fee income.
- Stabilization and Improvement of Net Interest Margin (NIM): While BayFirst Financial's net interest margin has experienced fluctuations, management believes it has stabilized and anticipates continued efforts to manage it for minimal compression, even with potential future rate declines. Initiatives such as deposit repricing aimed at aligning funding costs with peer levels, along with ongoing deposit growth, are expected to bolster the net interest margin and enable more competitive loan pricing, thereby supporting net interest income growth.
AI Analysis | Feedback
BayFirst Financial (BAFN) has made several capital allocation decisions over the last 3-5 years, focusing on share repurchases, strategic divestitures, and capital expenditures.Share Repurchases
- BayFirst Financial Corp. announced a share repurchase program on January 30, 2025, authorizing the repurchase of up to $2 million worth of its shares. This program is set to continue until December 31, 2025, or until its completion.
- On February 28, 2023, the company initiated a stock repurchase program allowing for the repurchase of up to $1.0 million of its outstanding shares. This program was effective until December 31, 2023.
- The Board of Directors authorized a share repurchase program on January 28, 2025, driven by the belief that the stock is an attractive investment and that repurchases build long-term shareholder value.
Share Issuance
- There is no readily available information detailing specific dollar amounts of share issuances by BayFirst Financial over the last 3-5 years. However, the number of outstanding shares was reported as 4,134,964 as of March 18, 2024, and 4,147,334 as of March 14, 2025, indicating some changes in share count.
Outbound Investments
- In September 2025, BayFirst Financial announced its strategic decision to exit the SBA 7(a) lending business. As part of this move, the company planned to sell $103 million of its SBA 7(a) loan balances to Banesco USA.
- By the fourth quarter of 2025, the company had completed the sale of $96.6 million in loans to Banesco USA, a significant step in its strategic plan to de-risk its loan portfolio.
- During the second quarter of 2022, BayFirst Financial restructured its Residential Mortgage Division, discontinuing its primary consumer direct residential mortgage business line. This decision was in response to reduced volume due to a lack of refinance demand.
Capital Expenditures
- BayFirst Financial reported capital expenditures of $3.21 million in 2024 and $0.60 million in 2023.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 13.17 |
| Mkt Cap | 0.7 |
| Rev LTM | 3,066 |
| Op Inc LTM | - |
| FCF LTM | 210 |
| FCF 3Y Avg | 374 |
| CFO LTM | 315 |
| CFO 3Y Avg | 377 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.9% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | 17.8% |
| QoQ Delta Rev Chg LTM | 4.1% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 27.7% |
| CFO/Rev 3Y Avg | 31.4% |
| FCF/Rev LTM | 22.5% |
| FCF/Rev 3Y Avg | 28.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.7 |
| P/S | 2.5 |
| P/Op Inc | - |
| P/EBIT | - |
| P/E | 8.6 |
| P/CFO | 6.9 |
| Total Yield | 8.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 9.4% |
| D/E | 0.6 |
| Net D/E | -0.8 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.5% |
| 3M Rtn | -5.7% |
| 6M Rtn | 12.6% |
| 12M Rtn | 13.9% |
| 3Y Rtn | 60.5% |
| 1M Excs Rtn | -8.0% |
| 3M Excs Rtn | -12.3% |
| 6M Excs Rtn | 2.4% |
| 12M Excs Rtn | -11.8% |
| 3Y Excs Rtn | -24.7% |
Price Behavior
Price Behavior
| Market Price | $6.95 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/30/2021 | |
| Distance from 52W High | -44.3% | |
| 50 Days | 200 Days | |
| DMA Price | $5.22 | $6.23 |
| DMA Trend | down | up |
| Distance from DMA | 33.3% | 11.5% |
| 3M | 1YR | |
| Volatility | 111.2% | 80.1% |
| Downside Capture | 0.13 | 0.93 |
| Upside Capture | 141.49 | 68.58 |
| Correlation (SPY) | 11.0% | 13.0% |
BAFN Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.46 | 0.76 | 0.81 | 0.87 | 0.66 | 0.39 |
| Up Beta | 1.43 | 0.63 | 1.15 | 1.54 | 0.85 | 0.14 |
| Down Beta | -0.83 | -1.50 | -1.95 | -0.89 | -0.86 | 0.24 |
| Up Capture | 229% | 191% | 179% | 88% | 45% | 17% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 15 | 25 | 33 | 56 | 116 | 330 |
| Down Capture | 51% | 87% | 104% | 137% | 147% | 93% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 6 | 17 | 30 | 62 | 123 | 352 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BAFN | |
|---|---|---|---|---|
| BAFN | -40.7% | 80.3% | -0.33 | - |
| Sector ETF (XLF) | 5.1% | 14.6% | 0.12 | 13.5% |
| Equity (SPY) | 28.3% | 12.5% | 1.80 | 14.4% |
| Gold (GLD) | 41.3% | 26.9% | 1.26 | 2.6% |
| Commodities (DBC) | 47.5% | 18.0% | 2.10 | -3.3% |
| Real Estate (VNQ) | 12.8% | 13.5% | 0.65 | 8.7% |
| Bitcoin (BTCUSD) | -21.0% | 41.7% | -0.46 | 5.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BAFN | |
|---|---|---|---|---|
| BAFN | -12.8% | 56.4% | -0.10 | - |
| Sector ETF (XLF) | 8.7% | 18.6% | 0.35 | 13.0% |
| Equity (SPY) | 12.9% | 17.1% | 0.59 | 10.7% |
| Gold (GLD) | 21.0% | 17.9% | 0.95 | 3.5% |
| Commodities (DBC) | 13.4% | 19.1% | 0.57 | -0.8% |
| Real Estate (VNQ) | 3.9% | 18.8% | 0.11 | 10.3% |
| Bitcoin (BTCUSD) | 7.2% | 55.9% | 0.34 | 3.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BAFN | |
|---|---|---|---|---|
| BAFN | -6.6% | 56.4% | -0.10 | - |
| Sector ETF (XLF) | 12.7% | 22.1% | 0.53 | 13.0% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 10.7% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 3.5% |
| Commodities (DBC) | 9.7% | 17.7% | 0.46 | -0.8% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.24 | 10.3% |
| Bitcoin (BTCUSD) | 68.2% | 66.8% | 1.07 | 3.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/30/2026 | -23.5% | -13.9% | |
| 1/29/2026 | 4.4% | -0.8% | 0.8% |
| 10/30/2025 | -2.3% | -8.1% | -13.2% |
| 7/29/2025 | -9.6% | -18.8% | -38.2% |
| 4/24/2025 | -9.6% | -5.9% | -6.7% |
| 1/30/2025 | 0.5% | 10.1% | 22.4% |
| 10/24/2024 | -0.7% | 3.0% | 0.1% |
| 7/25/2024 | -0.4% | -1.0% | 7.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 8 | 10 |
| # Negative | 7 | 9 | 6 |
| Median Positive | 1.7% | 4.3% | 5.3% |
| Median Negative | -2.3% | -5.9% | -10.6% |
| Max Positive | 6.3% | 12.8% | 22.4% |
| Max Negative | -23.5% | -22.4% | -38.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/27/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/25/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/28/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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