Lakeland Financial Corp - Understand $lkfn stock

$LKFN Market Cap: $1.913 Billion

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Financial Snapshot

Revenue

$370.7M

TTM

Gross Margin

Net Earnings

$98.91M

TTM

Current Assets

Current Liabilities

$44.78M

Q3 2024

Current Ratio

Total Assets

$6.645B

Q3 2024

Total Liabilities

$5.946B

Q3 2024

Book Value

$699.1M

Q3 2024

Cash

$160.2M

Q3 2024

P/E

19.34

Nov 29, 2024 EST

Free Cash Flow

$82.64M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Revenue	$343.3M	$239.6M	$193.2M	$193.1M	$215.2M	$199.0M	$165.7M	$139.0M	$122.5M	$117.3M	$107.7M	$114.4M	$121.9M
YoY Change	43.29%	23.99%	0.06%	-10.27%	8.16%	20.08%	19.25%	13.39%	4.48%	8.87%	-5.8%	-6.17%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$343.3M	$239.6M	$193.2M	$193.1M	$215.2M	$199.0M	$165.7M	$139.0M	$122.5M	$117.3M	$107.7M	$114.4M	$121.9M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$6.173M	$6.020M	$6.105M	$6.042M	$5.930M	$5.654M	$5.119M	$4.229M	$3.758M	$3.412M	$2.993M	$2.790M	$2.279M	$2.300M	$2.500M	$2.100M	$1.900M	$1.900M	$2.000M	$2.300M	$2.400M	$2.500M	$3.100M	$3.300M	$3.400M	$2.700M	$1.400M	$1.300M
YoY Change	2.54%	-1.39%	1.04%	1.89%	4.88%	10.45%	21.05%	12.53%	10.14%	14.0%	7.28%	22.42%	-0.91%	-8.0%	19.05%	10.53%	0.0%	-5.0%	-13.04%	-4.17%	-4.0%	-19.35%	-6.06%	-2.94%	25.93%	92.86%	7.69%	8.33%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Interest Expense	$146.2M	$36.68M	$15.13M	$30.10M	$60.16M	$47.70M	$29.81M	$20.47M	$16.61M	$14.99M	$17.30M	$26.70M	$29.81M
YoY Change	298.67%	142.42%	-49.72%	-49.98%	26.13%	60.03%	45.61%	23.22%	10.86%	-13.37%	-35.21%	-10.45%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Pretax Income	$110.3M	$125.2M	$117.4M	$103.9M	$107.4M	$98.94M	$89.63M	$77.22M	$69.20M	$66.19M	$58.40M	$52.58M	$45.38M	$36.80M	$27.80M	$28.90M	$27.60M	$28.20M	$27.40M	$21.80M	$20.70M	$18.90M	$14.90M	$13.40M	$12.40M	$11.80M	$11.50M	$9.900M
YoY Change	-11.85%	6.57%	13.06%	-3.27%	8.53%	10.39%	16.08%	11.59%	4.55%	13.34%	11.07%	15.86%	23.32%	32.37%	-3.81%	4.71%	-2.13%	2.92%	25.69%	5.31%	9.52%	26.85%	11.19%	8.06%	5.08%	2.61%	16.16%	13.79%
Income Tax	$16.57M	$21.35M	$21.71M	$19.54M	$20.34M	$18.53M	$32.30M	$25.13M	$22.83M	$22.39M	$19.56M	$17.18M	$14.72M	$12.20M	$8.900M	$9.200M	$8.400M	$9.500M	$9.500M	$7.300M	$6.800M	$6.500M	$4.700M	$4.100M	$4.100M	$3.900M	$3.900M	$3.500M
% Of Pretax Income	15.01%	17.06%	18.49%	18.81%	18.94%	18.73%	36.04%	32.55%	33.0%	33.82%	33.49%	32.68%	32.43%	33.15%	32.01%	31.83%	30.43%	33.69%	34.67%	33.49%	32.85%	34.39%	31.54%	30.6%	33.06%	33.05%	33.91%	35.35%
Net Earnings	$93.77M	$103.8M	$95.73M	$84.34M	$87.05M	$80.41M	$57.33M	$52.08M	$46.37M	$43.81M	$38.84M	$35.39M	$30.66M	$24.50M	$19.00M	$19.70M	$19.20M	$18.70M	$18.00M	$14.50M	$13.90M	$12.40M	$10.10M	$9.300M	$8.300M	$7.900M	$7.500M	$6.400M
YoY Change	-9.68%	8.44%	13.51%	-3.11%	8.25%	40.26%	10.07%	12.33%	5.85%	12.79%	9.73%	15.43%	25.15%	28.95%	-3.55%	2.6%	2.67%	3.89%	24.14%	4.32%	12.1%	22.77%	8.6%	12.05%	5.06%	5.33%	17.19%	14.29%
Net Earnings / Revenue	27.32%	43.34%	49.55%	43.67%	40.45%	40.41%	34.6%	37.48%	37.84%	37.35%	36.05%	30.95%	25.16%
Basic Earnings Per Share	$3.67	$4.07	$3.76	$3.31	$3.40	$3.18	$2.28	$2.08	$1.86	$1.77	$2.36	$2.17	$1.89
Diluted Earnings Per Share	$3.65	$4.038M	$3.74	$3.30	$3.38	$3.13	$2.23	$2.05	$1.84	$1.74	$2.33	$2.15	$1.88	$1.008M	$979.4K	$1.053M	$1.032M	$1.005M	$978.3K	$796.7K	$772.2K	$692.7K	$577.1K	$534.5K	$477.0K	$454.0K	$431.0K	$367.8K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
Property, Plant & Equipment	$57.90M	$58.10M	$63.50M	$64.00M	$65.30M	$58.10M	$56.50M	$52.10M	$46.70M	$42.00M	$39.30M	$34.80M	$34.70M	$30.40M	$29.60M	$30.50M	$27.50M	$25.20M	$24.60M	$25.10M	$26.20M	$24.80M	$24.30M	$27.30M	$27.80M	$26.40M	$23.10M	$16.00M
YoY Change	-0.34%	-8.51%	-0.78%	-1.99%	12.39%	2.83%	8.45%	11.56%	11.19%	6.87%	12.93%	0.29%	14.14%	2.7%	-2.95%	10.91%	9.13%	2.44%	-1.99%	-4.2%	5.65%	2.06%	-10.99%	-1.8%	5.3%	14.29%	44.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
Total Assets	$6.524B	$6.432B	$6.557B	$5.830B	$4.947B	$4.875B	$4.683B	$4.290B	$3.766B	$3.443B	$3.176B	$3.064B	$2.890B	$2.682B	$2.572B	$2.377B	$1.989B	$1.837B	$1.635B	$1.453B	$1.271B	$1.249B	$1.138B	$1.149B	$1.040B	$978.9M	$796.5M	$656.6M
YoY Change
Accounts Payable	$20.89M	$3.186M	$2.600M	$6.000M	$11.60M	$10.40M	$6.300M	$5.700M	$3.800M	$2.900M	$2.900M	$4.800M
YoY Change	555.78%	22.54%	-56.67%	-48.28%	11.54%	65.08%	10.53%	50.0%	31.03%	0.0%	-39.58%
Accrued Expenses	$4.695M	$5.296M	$4.200M	$4.700M	$5.100M								$13.60M	$11.50M	$14.00M	$17.20M	$15.50M	$12.00M	$10.40M	$7.400M	$7.800M	$12.50M	$6.100M	$6.700M	$4.800M	$6.500M	$5.000M	$5.000M
YoY Change	-11.35%	26.1%	-10.64%	-7.84%									18.26%	-17.86%	-18.6%	10.97%	29.17%	15.38%	40.54%	-5.13%	-37.6%	104.92%	-8.96%	39.58%	-26.15%	30.0%	0.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$22.00M			$0.00	$75.60M	$70.70M	$230.0M	$69.60M	$55.40M	$261.9M	$121.9M	$142.0M	$174.1M	$354.1M	$202.6M	$316.2M	$187.5M	$211.5M	$185.7M	$184.8M	$185.0M	$232.1M	$200.1M	$195.4M	$135.7M	$84.10M	$88.40M
YoY Change	-100.0%				-100.0%	6.93%	-69.26%	230.46%	25.63%	-78.85%	114.85%	-14.15%	-18.44%	-50.83%	74.78%	-35.93%	68.64%	-11.35%	13.89%	0.49%	-0.11%	-20.29%	15.99%	2.41%	43.99%	61.36%	-4.86%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$20.89M	$3.186M	$6.800M	$10.70M	$16.70M	$10.40M	$6.300M	$5.700M	$3.800M	$2.900M	$2.900M	$4.800M	$13.60M	$11.50M	$14.00M	$17.20M	$15.50M	$12.00M	$10.40M	$7.400M	$7.800M	$12.50M	$6.100M	$6.700M	$4.800M	$6.500M	$5.000M	$5.000M
YoY Change	555.78%	-53.15%	-36.45%	-35.93%	60.58%	65.08%	10.53%	50.0%	31.03%	0.0%	-39.58%	-64.71%	18.26%	-17.86%	-18.6%	10.97%	29.17%	15.38%	40.54%	-5.13%	-37.6%	104.92%	-8.96%	39.58%	-26.15%	30.0%	0.0%
Long-Term Debt	$0.00	$0.00	$0.00	$10.50M	$0.00	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$30.90M	$20.60M	$19.30M	$19.30M	$19.30M	$19.20M	$19.20M	$0.00
YoY Change			-100.0%		-100.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	50.0%	6.74%	0.0%	0.0%	0.52%	0.0%
Other Long-Term Liabilities	$82.82M	$102.7M	$35.20M	$40.30M	$28.10M	$22.60M	$17.70M	$18.40M	$15.60M	$14.50M	$12.00M	$12.00M	$2.200M	$2.300M	$1.200M	$1.400M	$1.300M	$300.0K	$2.100M	$1.900M	$1.500M	$2.400M	$1.800M	$1.400M	$1.500M	$1.600M	$1.500M	$1.000M
YoY Change	-19.34%	191.7%	-12.66%	43.42%	24.34%	27.68%	-3.8%	17.95%	7.59%	20.83%	0.0%	445.45%	-4.35%	91.67%	-14.29%	7.69%	333.33%	-85.71%	10.53%	26.67%	-37.5%	33.33%	28.57%	-6.67%	-6.25%	6.67%	50.0%
Total Long-Term Liabilities	$82.82M	$102.7M	$35.20M	$50.80M	$28.10M	$53.50M	$48.60M	$49.30M	$46.50M	$45.40M	$42.90M	$42.90M	$33.10M	$33.20M	$32.10M	$32.30M	$32.20M	$31.20M	$33.00M	$32.80M	$32.40M	$23.00M	$21.10M	$20.70M	$20.80M	$20.80M	$20.70M	$1.000M
YoY Change	-19.34%	191.7%	-30.71%	80.78%	-47.48%	10.08%	-1.42%	6.02%	2.42%	5.83%	0.0%	29.61%	-0.3%	3.43%	-0.62%	0.31%	3.21%	-5.45%	0.61%	1.23%	40.87%	9.0%	1.93%	-0.48%	0.0%	0.48%	1970.0%
Total Liabilities	$5.874B	$5.864B	$5.853B	$5.173B	$4.349B	$4.354B	$4.214B	$3.863B	$3.374B	$3.082B	$2.854B	$2.766B	$2.617B	$2.435B	$2.292B	$2.228B	$1.843B	$1.707B	$1.521B	$1.351B	$1.181B	$1.165B	$1.064B	$1.084B	$985.6M	$923.8M	$748.2M	$614.5M
YoY Change	0.18%	0.19%	13.13%	18.96%	-0.11%	3.3%	9.1%	14.51%	9.46%	7.99%	3.16%	5.73%	7.46%	6.26%	2.87%	20.87%	7.99%	12.17%	12.57%	14.39%	1.39%	9.49%	-1.84%	10.0%	6.69%	23.47%	21.76%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Basic Shares Outstanding	25.60M shares	25.53M shares	25.48M shares	25.47M shares	25.59M shares	25.29M	25.18M	25.06M	24.93M shares	24.80M shares	16.44M shares	16.32M shares	16.20M shares
Diluted Shares Outstanding	25.72M shares	25.71M shares	25.62M shares	25.57M shares	25.76M shares	25.73M	25.66M	25.46M	25.25M shares	25.17M shares	16.63M shares	16.48M shares	16.32M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $1.9127 Billion

About LAKELAND FINANCIAL CORP

Lakeland Financial Corp. is a bank holding company, which engages in the provision of banking products and services. The company is headquartered in Warsaw Indiana, Indiana and currently employs 608 full-time employees. The company offers commercial and consumer banking services, and trust and wealth management, brokerage, and treasury management commercial services. The company serves a diverse customer base, including commercial customers across a wide variety of industries, including commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and health care. The Bank serves Central and Northern Indiana communities with 54 branch offices in 15 counties and a robust digital banking platform. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation (the FDIC) to the maximum extent provided under federal law and FDIC regulations. The company also provides credit card services to retail and commercial customers.

Industry: State Commercial Banks Peers: BANNER CORP FB Financial Corp HEARTLAND FINANCIAL USA INC RENASANT CORP PNC FINANCIAL SERVICES GROUP, INC. Stock Yards Bancorp, Inc. SEACOAST BANKING CORP OF FLORIDA TRUSTMARK CORP WAFD INC