NewtekOne Inc. 8.00% Fixed Rate Senior Notes due 2028 (NEWTI)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach NEWTI as a lender, not an owner: this is NewtekOne's 8.00% fixed-rate senior note due 2028, so my return is contractual and my risk is the issuer's ability to pay. The filed record is constructive: net income was $47.3M in FY2023, $50.9M in FY2024, and $60.5M in FY2025, while diluted EPS rose from $1.88 to $1.96 to $2.18. In recent quarters, Q2 2026 showed $14.6M of net income and $0.47 diluted EPS versus $13.7M and $0.52 in Q2 2025; Q1 2026 had $13.4M and $0.43. So profit dollars are positive, but per-share progress is less clean. The FairStock Lynch category is SLOW GROWER — Shrinking, with profit -7.9% a year over four years, which I take seriously because it conflicts with the latest two annual increases and suggests the longer record is weaker than the near-term trend. The data give no moat evidence—no margins, returns, or balance sheet—and P/E, P/B, ROE and D/E are N/A, so I cannot underwrite the credit with Graham's usual margin of safety. At the 2026-10-16 close of $25.17, near the top of the $24.35-$25.70 52-week range, the market is paying a full price for an 8% coupon. The coupon is attractive if the issuer remains profitable, but the price offers little cushion for credit or rate disappointment. This is a note to monitor for coverage, not a business compounding story.

In plain English: NewtekOne is a financial-services company that has an 8% fixed-rate senior note due in 2028. The company reported positive net income in fiscal 2023, 2024, and 2025, and net income rose from $47.3M to $60.5M over that span, but a longer-term measure says profit has been shrinking over four years. At the 2026-10-16 close of $25.17, the note is near the top of its $24.35-$25.70 range, so the price looks fair to full rather than cheap.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer