IF Bancorp Inc. delivered a profitable QQ3 2025 with revenue of $11.821 million and net income of $1.011 million, translating to an EPS of $0.31. The quarter posted a gross margin of 59.9% and an operating margin of 11.77%, supported by a disciplined cost structure and an investment-heavy balance sheet. Operating cash flow totaled $1.831 million and free cash flow was $1.807 million, underscoring cash-generative fundamentals despite a small‑cap profile. The balance sheet shows a substantial investment portfolio (short-term investments of $167.8 million and long-term investments of $655.0 million against total assets of $879.1 million), which provides liquidity but also introduces sensitivity to fair value changes and rate moves. Leverage remains modest on a net-debt basis, with total debt of $104.9 million and net debt of $95.8 million, while equity stands at $78.9 million, yielding a near‑1.0x price-to-book ratio and a P/E multiple in the high-teen range.
Key takeaway for investors: the quarter confirms attractive profitability on a small revenue base and strong investment liquidity, but the earnings trajectory hinges on loan growth, net interest income dynamics, and the ability to manage securities fair value risk amid ongoing rate volatility. The stock trades with a valuation premium relative to many regional peers, suggesting investors are pricing in modest growth and stable liquidity, but upside will require clearer loan deployment and improved return on equity over time.