SoFi Technologies, Inc.SOFI
NasdaqGS•Financial Services•Credit Services
SoFi Technologies, Inc. provides various financial services in the United States, Latin America, Canada, and Hong Kong. The company operates through three segments: Lending, Technology Platform, and Financial Services. It offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money; and personal loans, student loans, home loans, and related services. The company also operates Galileo, a technology platform that offers services to financial and non-financial institution; and Technisys, a cloud-native digital and core banking platform that provides software licenses and associated services, including implementation and maintenance. In addition, it provides SoFi Money offers checking and savings accounts, and cash management products; SoFi Invest, a mobile-first investment platform that offers access to trading and advisory solutions, such as investing and robo-advisory; and SoFI Crypto, a new digital asset trading platform. Further, the company offers SoFi Credit Card that provides cash back rewards on every purchase; Sofi Relay, a personal finance management product that allows to track all of their financial accounts comprising credit score and spending behaviors; SoFi Protect which offers insurance product; SoFi Travel, an application that manages travel search and booking experience; SoFi At Work provides financial benefits to employees, including student loan payments made on their employees' behalf; Lantern Credit, a financial services marketplace platform for seeking alternative products and provide product comparisons; and other lending as a service that offers pre-qualified borrower referrals and offers loans to third-party partner. The company was founded in 2011 and is based in San Francisco, California.
SoFi Technologies, Inc. (SOFI) reported trailing twelve months revenue of $608.48M as of March 2026, a 15.3% increase year-over-year. Quarterly revenue reached $129.50M, reflecting continued top-line momentum.
SoFi Technologies, Inc. generated $576.93M in TTM net income, with quarterly EBITDA of $190.42M. The operating margin expanded from 27.6% to 94.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (94.9%) and net margin (128.7%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 50.7% a year ago, signaling stronger bottom-line efficiency.
SOFI trades at a P/E of 33.5x (a premium multiple) and a P/S of 31.8x. The price-to-book ratio of 1.8x reflects a moderate premium to book value.
The company reported negative free cash flow of $-2.38B, indicating cash consumption over the period. The balance sheet shows $53.70B in total assets with $1.81B in long-term debt against $10.81B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 40.3%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~33.0% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 20.6% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation