Financial Snapshot

Revenue
$179.6M
TTM
Gross Margin
Net Earnings
$43.54M
TTM
Current Assets
Current Liabilities
$64.87M
Q3 2024
Current Ratio
Total Assets
$4.338B
Q3 2024
Total Liabilities
$3.895B
Q3 2024
Book Value
$443.1M
Q3 2024
Cash
Q3 2024
P/E
14.62
Nov 29, 2024 EST
Free Cash Flow
$59.44M
TTM

Revenues

Revenues

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Revenue YoY Change

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Revenues

Concept 2023 2022 2021 2020 2019 2018 2017
Revenue $212.0M $161.2M $135.0M $138.2M $132.9M $118.1M
YoY Change 31.56% 19.35% -2.31% 3.98% 12.57%

Expenses

Cost Of Revenues

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Gross Profit

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Gross Profit Margin

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Gross Profit

Concept 2023 2022 2021 2020 2019 2018 2017
Revenue $212.0M $161.2M $135.0M $138.2M $132.9M $118.1M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

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Research & Development

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Depreciation, Depletion & Amortization

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SGA Expense to Gross Profit Ratio

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R&D To Gross Profit Ratio

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DDA To Gross Profit Ratio

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Operating Expenses Total

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Operating Profits/Loss

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Operational Expenses

Concept 2023 2022 2021 2020 2019 2018 2017
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.412M $6.965M $6.436M $6.575M $5.225M $5.185M $5.280M
YoY Change -7.94% 8.22% -2.11% 25.84% 0.77% -1.8%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change

Interest Expenses

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Interest Expenses To Operating Income %

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Other Expense/Income

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Interest & Other Expense/Income

Concept 2023 2022 2021 2020 2019 2018 2017
Interest Expense $72.29M $22.69M $13.27M $15.95M $28.37M $22.48M
YoY Change 218.55% 70.98% -16.77% -43.79% 26.18%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

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Income Tax

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Net Profits/Loss

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Pretax Income YoY Change

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Income Tax Rate

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Net Profits/Loss YoY Change

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Basic EPS

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Net Income To Revenue Ratio

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Pretax & Net Income

Concept 2023 2022 2021 2020 2019 2018 2017
Pretax Income $79.42M $73.15M $73.12M $56.60M $36.70M $25.39M $23.70M
YoY Change 8.57% 0.04% 29.18% 54.23% 44.55% 7.13%
Income Tax $16.67M $14.91M $14.51M $11.25M $7.481M -$3.901M $100.0K
% Of Pretax Income 20.99% 20.38% 19.84% 19.88% 20.38% -15.36% 0.42%
Net Earnings $62.75M $58.24M $58.61M $45.35M $29.22M $29.29M $23.60M
YoY Change 7.74% -0.64% 29.24% 55.21% -0.24% 24.11%
Net Earnings / Revenue 29.59% 36.14% 43.41% 32.81% 21.98% 24.8%
Basic Earnings Per Share $3.73 $3.35 $3.26 $2.51 $1.74 $1.98
Diluted Earnings Per Share $3.82 $3.420M $3.17 $2.47 $1.71 $1.98 $1.349M

Assets & Liabilities

Cash & Short-Term Investments

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Cash & Equivalents

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Cash To Operating Expenses Ratio

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Inventory

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Receivables

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Total Short-Term Assets

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Property, Plant And Equipment

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Long-Term Investments

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Total Long-Term Assets

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Total Assets

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Net Income To Total Assets Percentage

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Accounts Payable

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Short-Term Debt

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Long Term Debt Due

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Total Short-Term Liabilities

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Long-Term Debt

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Other Long-Term Liabilities

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Total Long-Term Liabilities

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Total Liabilities

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Short-Term To Long-Term Debt Ratio

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Short-Term Assets To Debt Ratio

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Long-Term Debt To Net Income Ratio

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Assets & Liabilities

Concept 2023 2022 2021 2020 2019 2018 2017
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 $55.07M $56.34M $57.70M $60.30M $61.90M $59.80M $61.90M
YoY Change -2.25% -2.36% -4.31% -2.58% 3.51% -3.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.41M $22.82M $3.000M $2.500M
YoY Change -14.92% 660.6% 20.0%
Total Long-Term Assets
YoY Change
Total Assets $4.205B $3.944B $3.902B $3.599B $3.237B $2.713B $2.573B
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $61.36M $58.27M $31.00M $31.20M $28.60M $28.70M $26.00M
YoY Change 5.31% 87.95% -0.64% 9.09% -0.35% 10.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $26.60M $17.20M $17.70M $15.60M
YoY Change -100.0% 54.65% -2.82% 13.46%
Long-Term Debt Due $0.00 $0.00 $7.500M
YoY Change -100.0%
Total Short-Term Liabilities $61.36M $58.27M $31.00M $31.20M $28.60M $36.20M $26.00M
YoY Change 5.31% 87.95% -0.64% 9.09% -20.99% 39.23%
Long-Term Debt $110.2M $122.4M $122.2M $122.0M $72.90M $72.90M $67.30M
YoY Change -9.96% 0.13% 0.16% 67.35% 0.0% 8.32%
Other Long-Term Liabilities $61.36M $58.27M $500.0K $700.0K $100.0K
YoY Change 5.31% -28.57% 600.0%
Total Long-Term Liabilities $171.5M $180.6M $122.2M $122.0M $73.40M $73.60M $67.40M
YoY Change -5.03% 47.81% 0.16% 66.21% -0.27% 9.2%
Total Liabilities $3.798B $3.587B $3.494B $3.229B $2.931B $2.500B $2.358B
YoY Change 5.87% 2.65% 8.22% 10.17% 17.24% 6.02%

Ownership

Basic Shares Outstanding

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Diluted Shares Outstanding

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Preferred Stock

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Treasury Stock Shares

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Stock Issuance & Repurchase

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Ownership Data

Concept 2023 2022 2021 2020 2019 2018 2017
Basic Shares Outstanding 16.84M 17.37M 17.95M 18.05M 16.82M 14.77M
Diluted Shares Outstanding 17.33M 18.02M 18.49M 18.34M 17.04M 14.77M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

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Book Value

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Free Cash Flow

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Free Cash Flow YoY

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Free Cash Flow Margin

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Dividends

Dividends

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Stock Price

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Market Cap: $636.57 Million

About SOUTH PLAINS FINANCIAL, INC.

South Plains Financial, Inc. is a bank holding company, which engages in the provision of commercial and consumer financial services. The company is headquartered in Lubbock, Texas and currently employs 547 full-time employees. The company went IPO on 2019-05-09. The Bank is an independent bank in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. The Bank provides a range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. The Banks principal business activities include commercial and retail banking, along with investment, trust, and mortgage services. The Bank is primarily involved in real estate, commercial, agricultural and consumer lending activities with customers throughout Texas and Eastern New Mexico. The Bank operates about 25 full-service banking locations across seven geographic markets. The Bank also operates about eight loan production offices both in its banking markets and in certain key areas in Texas that focus on mortgage loan origination.

Industry: State Commercial Banks Peers: Bank of Marin Bancorp Business First Bancshares, Inc. EQUITY BANCSHARES INC FARMERS NATIONAL BANC CORP /OH/ FIVE STAR BANCORP MERCANTILE BANK CORP MID PENN BANCORP INC PNC FINANCIAL SERVICES GROUP, INC.