Carter Bankshares (CARE) Financials

$15.86 -0.13 (-0.81%)

Closing price 05/21/2025 04:00 PM Eastern

Extended Trading

$15.87 +0.01 (+0.06%)

As of 05/21/2025 04:02 PM Eastern

Annual Income Statements for Carter Bankshares

This table shows Carter Bankshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	25	23	50
Consolidated Net Income / (Loss)	25	23	50
Net Income / (Loss) Continuing Operations	25	23	50
Total Pre-Tax Income	31	29	62
Total Revenue	136	141	162
Net Interest Income / (Expense)	114	122	140
Total Interest Income	222	196	160
Loans and Leases Interest Income	191	163	139
Investment Securities Interest Income	31	33	21
Deposits and Money Market Investments Interest Income	0.09	0.06	0.03
Total Interest Expense	107	74	20
Deposits Interest Expense	95	53	19
Long-Term Debt Interest Expense	12	21	1.45
Federal Funds Purchased and Securities Sold Interest Expense	0.00	0.37	0.19
Total Non-Interest Income	21	18	22
Trust Fees by Commissions	3.69	1.95	1.96
Other Service Charges	16	16	18
Net Realized & Unrealized Capital Gains on Investments	0.07	-1.52	0.05
Other Non-Interest Income	1.47	1.38	1.36
Provision for Credit Losses	-5.05	6.40	2.93
Total Non-Interest Expense	110	105	97
Salaries and Employee Benefits	58	56	52
Net Occupancy & Equipment Expense	21	18	18
Marketing Expense	2.54	1.69	1.43
Property & Liability Insurance Claims	6.20	4.90	2.02
Other Operating Expenses	23	25	23
Amortization Expense	0.00	0.00	0.62
Income Tax Expense	6.35	5.34	12
Basic Earnings per Share	$1.06	$1.00	$2.03
Weighted Average Basic Shares Outstanding	22.82M	23.24M	24.60M
Diluted Earnings per Share	$1.06	$1.00	$2.03
Weighted Average Diluted Shares Outstanding	22.82M	23.24M	24.60M
Weighted Average Basic & Diluted Shares Outstanding	23.13M	23.02M	23.92M

This table shows Carter Bankshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	8.28	5.63	4.80	5.81	-1.89	3.63	5.70	16	16	14
Consolidated Net Income / (Loss)	8.28	5.63	4.80	5.81	-1.89	3.63	5.70	16	16	14
Net Income / (Loss) Continuing Operations	8.28	5.63	4.80	5.81	-1.89	3.63	5.70	16	16	14
Total Pre-Tax Income	11	7.03	5.92	7.23	-1.89	4.41	5.76	20	19	19
Total Revenue	35	34	34	33	31	33	32	46	47	43
Net Interest Income / (Expense)	29	29	28	28	27	27	27	41	42	38
Total Interest Income	57	57	55	54	52	49	44	52	48	42
Loans and Leases Interest Income	50	49	46	46	43	41	36	44	41	37
Investment Securities Interest Income	6.97	7.54	8.09	8.19	8.56	8.37	8.17	7.80	6.94	5.66
Deposits and Money Market Investments Interest Income	0.01	0.04	0.03	0.01	0.03	0.01	0.01	0.02	0.00	0.00
Total Interest Expense	27	28	26	26	24	21	17	11	6.69	4.60
Deposits Interest Expense	26	26	23	21	18	15	12	7.52	5.34	4.47
Long-Term Debt Interest Expense	0.88	2.28	3.77	4.91	6.43	6.06	5.15	3.48	1.20	0.11
Total Non-Interest Income	5.37	5.42	5.53	5.05	3.25	5.27	5.03	4.74	5.54	5.24
Trust Fees by Commissions	1.07	1.06	0.93	0.61	0.40	0.87	0.51	0.17	-	-
Other Service Charges	3.88	3.98	4.20	4.08	4.01	4.06	4.18	4.23	17	0.47
Net Realized & Unrealized Capital Gains on Investments	0.03	0.00	0.04	0.00	-1.51	-0.00	0.00	-0.01	-0.34	-0.01
Other Non-Interest Income	0.39	0.38	0.37	0.35	0.35	0.35	0.34	0.34	-13	4.77
Provision for Credit Losses	-5.08	-0.24	0.26	0.02	3.57	0.98	0.45	1.42	0.37	0.08
Total Non-Interest Expense	29	27	27	26	29	27	26	24	28	23
Salaries and Employee Benefits	15	15	14	14	15	14	14	14	15	14
Net Occupancy & Equipment Expense	5.58	5.28	5.03	4.64	4.55	4.62	4.66	4.12	5.00	4.25
Marketing Expense	1.07	0.59	0.53	0.36	0.56	0.36	0.43	0.34	0.56	0.37
Property & Liability Insurance Claims	1.42	1.53	1.57	1.69	2.19	1.37	0.70	0.64	0.48	0.54
Other Operating Expenses	5.91	5.44	6.11	5.37	7.17	6.97	6.10	4.82	6.75	5.55
Income Tax Expense	2.40	1.40	1.12	1.42	-0.00	0.78	0.05	4.50	3.47	5.01
Basic Earnings per Share	$0.36	$0.24	$0.21	$0.25	($0.07)	$0.16	$0.24	$0.67	$0.64	$0.59
Weighted Average Basic Shares Outstanding	22.82M	22.83M	22.83M	22.77M	23.24M	22.95M	23.51M	23.77M	24.60M	24.27M
Diluted Earnings per Share	$0.36	$0.24	$0.21	$0.25	($0.07)	$0.16	$0.24	$0.67	$0.64	$0.59
Weighted Average Diluted Shares Outstanding	22.82M	22.83M	22.83M	22.77M	23.24M	22.95M	23.51M	23.77M	24.60M	24.27M
Weighted Average Basic & Diluted Shares Outstanding	23.13M	23.07M	23.07M	23.02M	23.02M	22.96M	23.33M	23.94M	23.92M	24.11M

This table details how cash moves in and out of Carter Bankshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	77	7.66	-231
Net Cash From Operating Activities	37	47	71
Net Cash From Continuing Operating Activities	37	47	71
Net Income / (Loss) Continuing Operations	25	23	50
Consolidated Net Income / (Loss)	25	23	50
Provision For Loan Losses	-5.05	6.40	2.93
Depreciation Expense	7.06	6.25	6.06
Amortization Expense	4.11	8.46	6.37
Non-Cash Adjustments to Reconcile Net Income	2.87	2.29	4.68
Changes in Operating Assets and Liabilities, net	3.43	-0.05	0.64
Net Cash From Investing Activities	-68	-307	-382
Net Cash From Continuing Investing Activities	-68	-307	-382
Purchase of Property, Leasehold Improvements and Equipment	-8.13	-9.80	-5.89
Purchase of Investment Securities	-146	-396	-486
Sale of Property, Leasehold Improvements and Equipment	0.00	0.00	0.41
Sale and/or Maturity of Investments	86	99	109
Net Cash From Financing Activities	108	268	80
Net Cash From Continuing Financing Activities	108	268	80
Net Change in Deposits	432	89	-68
Issuance of Debt	1,870	3,442	301
Repayment of Debt	-2,193	-3,229	-127
Repurchase of Common Equity	0.00	-16	-43
Other Financing Activities, Net	0.00	-18	18
Cash Interest Paid	106	69	19
Cash Income Taxes Paid	0.48	5.72	5.79

This table details how cash moves in and out of Carter Bankshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	26	43	-46	54	-0.87	2.12	-28	35	-19	-4.53
Net Cash From Operating Activities	11	10	-2.46	18	7.88	9.26	7.16	22	23	21
Net Cash From Continuing Operating Activities	11	10	-2.46	18	7.88	9.26	7.16	22	23	21
Net Income / (Loss) Continuing Operations	8.28	5.63	4.80	5.81	-1.89	3.63	5.70	16	16	14
Consolidated Net Income / (Loss)	8.28	5.63	4.80	5.81	-1.89	3.63	5.70	16	16	14
Provision For Loan Losses	-5.03	-0.24	0.26	-0.03	3.48	0.98	0.45	1.50	0.37	0.08
Depreciation Expense	1.84	1.79	1.75	1.67	1.56	1.61	1.57	1.51	1.57	1.52
Amortization Expense	1.02	0.89	0.99	1.21	3.32	1.65	1.60	1.88	1.36	0.62
Non-Cash Adjustments to Reconcile Net Income	1.78	2.47	-1.65	0.27	1.97	-0.30	0.31	0.30	3.54	0.11
Changes in Operating Assets and Liabilities, net	3.57	-0.23	-8.61	8.70	-0.57	1.70	-2.48	1.30	0.64	4.16
Net Cash From Investing Activities	-34	-23	-22	10	-52	-79	-51	-125	-112	-20
Net Cash From Continuing Investing Activities	-34	-23	-22	10	-52	-79	-51	-125	-112	-20
Purchase of Property, Leasehold Improvements and Equipment	-3.14	-1.88	-1.81	-1.31	-1.82	-2.00	-4.05	-1.93	-1.70	-1.66
Purchase of Investment Securities	-48	-39	-54	-4.87	-107	-81	-71	-136	-125	-40
Sale and/or Maturity of Investments	17	18	34	16	58	4.18	24	13	14	21
Net Cash From Financing Activities	48	56	-22	26	43	72	16	138	70	-5.18
Net Cash From Continuing Financing Activities	48	56	-22	26	43	72	16	138	70	-5.18
Net Change in Deposits	68	204	51	109	164	-21	44	-97	-96	-27
Issuance of Debt	1,870	-	-	0.00	3,108	107	-28	255	278	23
Repayment of Debt	-1,890	-148	-73	-83	-3,229	-	-	0.00	-127	7.00
Cash Interest Paid	27	28	26	25	24	21	15	9.10	5.64	4.66
Cash Income Taxes Paid	0.02	0.19	0.24	0.03	0.06	0.11	5.53	0.03	2.54	2.92

This table presents Carter Bankshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	4,659	4,513	4,205
Cash and Due from Banks	131	55	47
Trading Account Securities	718	779	836
Loans and Leases, Net of Allowance	3,549	3,409	3,055
Loans and Leases	3,625	3,506	3,149
Allowance for Loan and Lease Losses	76	97	94
Premises and Equipment, Net	74	74	72
Other Assets	176	196	194
Total Liabilities & Shareholders' Equity	4,659	4,513	4,205
Total Liabilities	4,275	4,161	3,876
Non-Interest Bearing Deposits	634	685	706
Interest Bearing Deposits	3,519	3,037	2,927
Long-Term Debt	70	393	181
Other Long-Term Liabilities	48	43	43
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	384	351	329
Total Preferred & Common Equity	384	351	329
Total Common Equity	384	351	329
Common Stock	115	114	129
Retained Earnings	334	309	286
Accumulated Other Comprehensive Income / (Loss)	-65	-71	-86

This table presents Carter Bankshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	4,613	4,533	4,555	4,452	4,384	4,366	4,114
Cash and Due from Banks	105	62	108	55	53	81	61
Trading Account Securities	743	746	769	793	822	863	853
Loans and Leases, Net of Allowance	3,515	3,453	3,413	3,316	3,236	3,154	2,937
Loans and Leases	3,596	3,550	3,509	3,411	3,330	3,249	3,031
Allowance for Loan and Lease Losses	81	97	97	94	94	95	94
Premises and Equipment, Net	73	73	73	74	75	72	73
Other Assets	172	193	192	213	198	194	185
Total Liabilities & Shareholders' Equity	4,613	4,533	4,555	4,452	4,384	4,366	4,114
Total Liabilities	4,227	4,168	4,196	4,122	4,040	4,011	3,799
Non-Interest Bearing Deposits	629	653	672	661	686	687	719
Interest Bearing Deposits	3,456	3,228	3,159	2,895	2,891	2,846	3,007
Long-Term Debt	90	238	311	514	407	435	30
Other Long-Term Liabilities	48	46	52	51	48	42	44
Total Equity & Noncontrolling Interests	387	364	359	331	344	355	315
Total Preferred & Common Equity	387	364	359	331	344	355	315
Total Common Equity	387	364	359	331	344	355	315
Common Stock	115	114	114	113	119	127	131
Retained Earnings	325	320	315	311	307	302	270
Accumulated Other Comprehensive Income / (Loss)	-53	-70	-70	-94	-82	-73	-86

This table displays calculated financial ratios and metrics derived from Carter Bankshares' official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	-3.39%	-13.03%	15.41%
EBITDA Growth	-3.20%	-41.44%	53.10%
EBIT Growth	7.48%	-53.46%	72.89%
NOPAT Growth	4.87%	-53.34%	58.65%
Net Income Growth	4.87%	-53.34%	58.65%
EPS Growth	6.00%	-50.74%	70.59%
Operating Cash Flow Growth	-20.95%	-33.99%	-8.70%
Free Cash Flow Firm Growth	248.46%	-376.99%	-148.24%
Invested Capital Growth	-38.99%	46.24%	22.81%
Revenue Q/Q Growth	2.92%	-10.45%	8.92%
EBITDA Q/Q Growth	34.06%	-31.11%	18.02%
EBIT Q/Q Growth	69.89%	-42.88%	24.24%
NOPAT Q/Q Growth	70.83%	-42.80%	24.92%
Net Income Q/Q Growth	70.83%	-42.80%	24.92%
EPS Q/Q Growth	68.25%	-41.52%	27.67%
Operating Cash Flow Q/Q Growth	10.72%	-24.57%	8.55%
Free Cash Flow Firm Q/Q Growth	-17.64%	53.80%	-133.90%
Invested Capital Q/Q Growth	-4.72%	-11.85%	47.67%
Profitability Metrics	-	-	-
EBITDA Margin	30.95%	30.89%	45.87%
EBIT Margin	22.73%	20.43%	38.18%
Profit (Net Income) Margin	18.05%	16.63%	31.00%
Tax Burden Percent	79.44%	81.42%	81.21%
Interest Burden Percent	100.00%	100.00%	100.00%
Effective Tax Rate	20.56%	18.58%	18.79%
Return on Invested Capital (ROIC)	4.09%	3.73%	10.85%
ROIC Less NNEP Spread (ROIC-NNEP)	4.09%	3.73%	10.85%
Return on Net Nonoperating Assets (RNNOA)	2.58%	3.15%	2.76%
Return on Equity (ROE)	6.67%	6.88%	13.61%
Cash Return on Invested Capital (CROIC)	52.52%	-33.83%	-9.63%
Operating Return on Assets (OROA)	0.67%	0.66%	1.48%
Return on Assets (ROA)	0.53%	0.54%	1.20%
Return on Common Equity (ROCE)	6.67%	6.88%	13.61%
Return on Equity Simple (ROE_SIMPLE)	6.38%	6.66%	15.25%
Net Operating Profit after Tax (NOPAT)	25	23	50
NOPAT Margin	18.05%	16.63%	31.00%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	59.62%	53.70%	44.18%
Operating Expenses to Revenue	80.99%	75.02%	60.01%
Earnings before Interest and Taxes (EBIT)	31	29	62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	42	43	74
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.06	0.98	1.22
Price to Tangible Book Value (P/TBV)	1.06	0.98	1.22
Price to Revenue (P/Rev)	2.99	2.44	2.47
Price to Earnings (P/E)	16.55	14.70	7.98
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	6.04%	6.80%	12.53%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.92	1.05
Enterprise Value to Revenue (EV/Rev)	2.54	4.85	3.30
Enterprise Value to EBITDA (EV/EBITDA)	8.20	15.72	7.20
Enterprise Value to EBIT (EV/EBIT)	11.17	23.76	8.65
Enterprise Value to NOPAT (EV/NOPAT)	14.05	29.19	10.65
Enterprise Value to Operating Cash Flow (EV/OCF)	9.33	14.61	7.54
Enterprise Value to Free Cash Flow (EV/FCFF)	1.09	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.18	1.12	0.55
Long-Term Debt to Equity	0.18	1.12	0.55
Financial Leverage	0.63	0.84	0.25
Leverage Ratio	12.47	12.82	11.33
Compound Leverage Factor	12.47	12.82	11.33
Debt to Total Capital	15.41%	52.83%	35.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	15.41%	52.83%	35.46%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	84.59%	47.17%	64.54%
Debt to EBITDA	1.67	9.06	2.43
Net Debt to EBITDA	-1.46	7.80	1.80
Long-Term Debt to EBITDA	1.67	9.06	2.43
Debt to NOPAT	2.85	16.82	3.60
Net Debt to NOPAT	-2.49	14.49	2.67
Long-Term Debt to NOPAT	2.85	16.82	3.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	315	-212	-44
Operating Cash Flow to CapEx	454.17%	476.93%	1,291.34%
Free Cash Flow to Firm to Interest Expense	2.94	-2.86	-2.20
Operating Cash Flow to Interest Expense	0.34	0.63	3.50
Operating Cash Flow Less CapEx to Interest Expense	0.27	0.50	3.22
Efficiency Ratios	-	-	-
Asset Turnover	0.03	0.03	0.04
Fixed Asset Turnover	1.84	1.93	2.19
Capital & Investment Metrics	-	-	-
Invested Capital	454	745	509
Invested Capital Turnover	0.23	0.22	0.35
Increase / (Decrease) in Invested Capital	-290	235	95
Enterprise Value (EV)	345	683	534
Market Capitalization	406	344	400
Book Value per Share	$16.66	$15.30	$13.63
Tangible Book Value per Share	$16.66	$15.30	$13.63
Total Capital	454	745	509
Total Debt	70	393	181
Total Long-Term Debt	70	393	181
Net Debt	-61	339	134
Capital Expenditures (CapEx)	8.13	9.80	5.48
Net Nonoperating Expense (NNE)	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	70	393	181
Total Depreciation and Amortization (D&A)	11	15	12
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.06	$1.00	$2.03
Adjusted Weighted Average Basic Shares Outstanding	22.82M	23.24M	24.60M
Adjusted Diluted Earnings per Share	$1.06	$1.00	$2.03
Adjusted Weighted Average Diluted Shares Outstanding	22.82M	23.24M	24.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	23.13M	23.02M	23.92M
Normalized Net Operating Profit after Tax (NOPAT)	25	23	50
Normalized NOPAT Margin	18.05%	16.63%	31.00%
Pre Tax Income Margin	22.73%	20.43%	38.18%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.29	0.39	3.05
NOPAT to Interest Expense	0.23	0.32	2.47
EBIT Less CapEx to Interest Expense	0.21	0.26	2.78
NOPAT Less CapEx to Interest Expense	0.15	0.18	2.20
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	70.20%	85.65%

This table displays calculated financial ratios and metrics derived from Carter Bankshares' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.56%	4.76%	5.94%	-26.49%	-34.85%	-23.97%	-16.61%	35.65%	39.14%	18.30%
EBITDA Growth	367.32%	26.73%	-2.97%	-57.91%	-86.79%	-64.44%	-44.90%	66.37%	105.86%	41.10%
EBIT Growth	643.64%	59.47%	2.88%	-64.97%	-110.34%	-77.30%	-54.19%	92.72%	171.19%	61.22%
NOPAT Growth	726.18%	55.20%	-15.80%	-63.55%	-108.47%	-74.83%	-47.08%	70.99%	178.24%	28.95%
Net Income Growth	538.56%	55.20%	-15.80%	-63.55%	-112.10%	-74.83%	-47.08%	70.99%	178.24%	28.95%
EPS Growth	614.29%	50.00%	-12.50%	-62.69%	-110.94%	-72.88%	-45.45%	86.11%	220.00%	40.48%
Operating Cash Flow Growth	45.41%	11.32%	-134.36%	-21.40%	-65.90%	-55.68%	-50.05%	79.91%	31.83%	-42.87%
Free Cash Flow Firm Growth	226.11%	175.27%	137.36%	130.39%	-199.84%	-570.61%	-489.17%	-705.22%	-219.31%	124.83%
Invested Capital Growth	-38.99%	-43.55%	-19.83%	-15.25%	46.24%	144.99%	124.87%	120.33%	22.81%	-20.89%
Revenue Q/Q Growth	0.87%	1.77%	0.48%	9.13%	-6.12%	2.91%	-30.27%	-3.28%	9.56%	12.87%
EBITDA Q/Q Growth	39.85%	12.12%	-13.96%	246.41%	-62.07%	-14.16%	-62.68%	6.23%	2.12%	33.00%
EBIT Q/Q Growth	52.62%	18.64%	-17.62%	464.47%	-144.77%	-23.46%	-71.95%	4.81%	-1.75%	54.47%
NOPAT Q/Q Growth	47.10%	17.20%	-17.35%	539.46%	-136.46%	-36.41%	-64.22%	2.13%	8.34%	33.68%
Net Income Q/Q Growth	47.10%	17.20%	-17.35%	407.79%	-152.05%	-36.41%	-64.22%	2.13%	8.34%	33.68%
EPS Q/Q Growth	50.00%	14.29%	-16.00%	457.14%	-143.75%	-33.33%	-64.18%	4.69%	8.47%	34.09%
Operating Cash Flow Q/Q Growth	11.05%	519.36%	-113.94%	123.92%	-14.98%	29.43%	-68.10%	-2.85%	10.49%	45.87%
Free Cash Flow Firm Q/Q Growth	-20.06%	142.94%	21.78%	153.32%	52.29%	-20.60%	0.96%	-426.16%	-174.88%	-0.27%
Invested Capital Q/Q Growth	-4.72%	-20.85%	-10.03%	-10.08%	-11.85%	12.43%	-4.89%	55.16%	47.67%	3.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	39.36%	28.39%	25.77%	30.09%	9.48%	23.47%	28.13%	52.55%	46.77%	50.17%
EBIT Margin	31.08%	20.54%	17.62%	21.49%	-6.43%	13.49%	18.14%	45.10%	40.53%	45.20%
Profit (Net Income) Margin	23.99%	16.45%	14.28%	17.36%	-6.16%	11.10%	17.97%	35.02%	33.16%	33.54%
Tax Burden Percent	77.51%	80.09%	81.08%	80.33%	99.95%	82.30%	99.06%	77.97%	81.82%	74.20%
Interest Burden Percent	99.60%	100.00%	100.00%	100.60%	95.74%	100.00%	100.00%	99.59%	100.00%	100.00%
Effective Tax Rate	22.49%	19.91%	18.92%	19.67%	0.00%	17.70%	0.94%	22.03%	18.18%	25.80%
Return on Invested Capital (ROIC)	5.44%	3.29%	2.75%	3.06%	-0.97%	2.93%	5.54%	10.59%	11.61%	12.75%
ROIC Less NNEP Spread (ROIC-NNEP)	5.44%	3.29%	2.75%	3.06%	-1.16%	2.93%	5.54%	10.59%	11.61%	12.75%
Return on Net Nonoperating Assets (RNNOA)	3.42%	2.77%	2.51%	3.19%	-0.98%	2.47%	3.32%	6.46%	2.96%	1.06%
Return on Equity (ROE)	8.86%	6.05%	5.26%	6.25%	-1.95%	5.40%	8.86%	17.04%	14.56%	13.81%
Cash Return on Invested Capital (CROIC)	52.52%	57.85%	23.83%	18.32%	-33.83%	-77.18%	-67.35%	-65.25%	-9.63%	33.60%
Operating Return on Assets (OROA)	0.92%	0.60%	0.52%	0.62%	-0.21%	0.49%	0.71%	1.84%	1.57%	1.63%
Return on Assets (ROA)	0.71%	0.48%	0.42%	0.50%	-0.20%	0.41%	0.71%	1.43%	1.29%	1.21%
Return on Common Equity (ROCE)	8.86%	6.05%	5.26%	6.25%	-1.95%	5.40%	8.86%	17.04%	14.56%	13.81%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.71%	3.39%	3.69%	0.00%	12.36%	15.01%	15.99%	0.00%	12.74%
Net Operating Profit after Tax (NOPAT)	8.28	5.63	4.80	5.81	-1.32	3.63	5.70	16	16	14
NOPAT Margin	23.99%	16.45%	14.28%	17.36%	-4.31%	11.10%	17.97%	35.02%	33.16%	33.54%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	62.40%	59.82%	58.80%	57.36%	64.26%	57.99%	59.04%	39.79%	43.00%	42.21%
Operating Expenses to Revenue	83.63%	80.17%	81.62%	78.46%	94.81%	83.52%	80.46%	51.79%	58.68%	54.62%
Earnings before Interest and Taxes (EBIT)	11	7.03	5.92	7.19	-1.97	4.41	5.76	21	19	19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	9.71	8.66	10	2.91	7.67	8.93	24	22	22
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.06	1.04	0.95	0.81	0.98	0.88	1.03	0.94	1.22	1.26
Price to Tangible Book Value (P/TBV)	1.06	1.04	0.95	0.81	0.98	0.88	1.03	0.94	1.22	1.26
Price to Revenue (P/Rev)	2.99	3.04	2.67	2.26	2.44	1.86	2.12	1.93	2.47	2.67
Price to Earnings (P/E)	16.55	27.95	28.17	21.96	14.70	7.15	6.85	5.90	7.98	9.86
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.04%	3.58%	3.55%	4.55%	6.80%	13.99%	14.59%	16.94%	12.53%	10.14%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.81	0.87	0.74	0.92	0.89	0.94	0.87	1.05	1.04
Enterprise Value to Revenue (EV/Rev)	2.54	2.93	4.02	3.84	4.85	4.78	4.23	3.97	3.30	2.43
Enterprise Value to EBITDA (EV/EBITDA)	8.20	12.32	17.89	16.69	15.72	11.91	9.20	8.18	7.20	5.73
Enterprise Value to EBIT (EV/EBIT)	11.17	21.26	33.72	32.07	23.76	14.94	10.84	9.55	8.65	7.25
Enterprise Value to NOPAT (EV/NOPAT)	14.05	26.91	42.44	37.23	29.19	18.37	13.70	12.14	10.65	8.97
Enterprise Value to Operating Cash Flow (EV/OCF)	9.33	11.58	16.22	11.77	14.61	12.12	9.62	8.53	7.54	5.52
Enterprise Value to Free Cash Flow (EV/FCFF)	1.09	1.01	3.25	3.69	0.00	0.00	0.00	0.00	0.00	2.74
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.18	0.23	0.65	0.86	1.12	1.56	1.18	1.23	0.55	0.10
Long-Term Debt to Equity	0.18	0.23	0.65	0.86	1.12	1.56	1.18	1.23	0.55	0.10
Financial Leverage	0.63	0.84	0.91	1.04	0.84	0.84	0.60	0.61	0.25	0.08
Leverage Ratio	12.47	12.64	12.58	12.49	12.82	13.27	12.54	11.90	11.33	11.45
Compound Leverage Factor	12.42	12.64	12.58	12.57	12.28	13.27	12.54	11.85	11.33	11.45
Debt to Total Capital	15.41%	18.87%	39.51%	46.37%	52.83%	60.86%	54.19%	55.08%	35.46%	8.70%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	15.41%	18.87%	39.51%	46.37%	52.83%	60.86%	54.19%	55.08%	35.46%	8.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	84.59%	81.13%	60.49%	53.63%	47.17%	39.14%	45.81%	44.92%	64.54%	91.30%
Debt to EBITDA	1.67	2.87	8.12	10.50	9.06	8.16	5.29	5.17	2.43	0.48
Net Debt to EBITDA	-1.46	-0.48	6.01	6.84	7.80	7.28	4.60	4.20	1.80	-0.57
Long-Term Debt to EBITDA	1.67	2.87	8.12	10.50	9.06	8.16	5.29	5.17	2.43	0.48
Debt to NOPAT	2.85	6.27	19.27	23.43	16.82	12.58	7.88	7.67	3.60	0.75
Net Debt to NOPAT	-2.49	-1.04	14.27	15.27	14.49	11.22	6.85	6.24	2.67	-0.89
Long-Term Debt to NOPAT	2.85	6.27	19.27	23.43	16.82	12.58	7.88	7.67	3.60	0.75
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	299	374	154	126	-237	-496	-412	-416	-79	105
Operating Cash Flow to CapEx	365.03%	548.51%	-135.78%	1,351.26%	432.93%	462.69%	176.63%	1,165.45%	1,359.21%	1,256.76%
Free Cash Flow to Firm to Interest Expense	10.92	13.44	5.80	4.93	-9.69	-23.09	-24.20	-37.20	-11.80	22.92
Operating Cash Flow to Interest Expense	0.42	0.37	-0.09	0.69	0.32	0.43	0.42	2.01	3.45	4.54
Operating Cash Flow Less CapEx to Interest Expense	0.30	0.30	-0.16	0.64	0.25	0.34	0.18	1.84	3.20	4.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.03	0.03	0.03	0.03	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	1.84	1.79	1.76	1.76	1.93	2.13	2.26	2.38	2.19	2.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	454	477	602	670	745	845	751	790	509	345
Invested Capital Turnover	0.23	0.20	0.19	0.18	0.22	0.26	0.31	0.30	0.35	0.38
Increase / (Decrease) in Invested Capital	-290	-368	-149	-120	235	500	417	431	95	-91
Enterprise Value (EV)	345	386	524	493	683	751	708	689	534	360
Market Capitalization	406	401	348	291	344	292	354	335	400	396
Book Value per Share	$16.66	$16.77	$15.83	$15.60	$15.30	$14.17	$14.38	$14.83	$13.63	$12.81
Tangible Book Value per Share	$16.66	$16.77	$15.83	$15.60	$15.30	$14.17	$14.38	$14.83	$13.63	$12.81
Total Capital	454	477	602	670	745	845	751	790	509	345
Total Debt	70	90	238	311	393	514	407	435	181	30
Total Long-Term Debt	70	90	238	311	393	514	407	435	181	30
Net Debt	-61	-15	176	202	339	459	354	354	134	-36
Capital Expenditures (CapEx)	3.14	1.88	1.81	1.31	1.82	2.00	4.05	1.93	1.70	1.66
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.57	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	70	90	238	311	393	514	407	435	181	30
Total Depreciation and Amortization (D&A)	2.86	2.69	2.74	2.88	4.88	3.26	3.17	3.39	2.93	2.14
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.36	$0.24	$0.21	$0.25	($0.07)	$0.16	$0.24	$0.67	$0.64	$0.59
Adjusted Weighted Average Basic Shares Outstanding	22.82M	22.83M	22.83M	22.77M	23.24M	22.95M	23.51M	23.77M	24.60M	24.27M
Adjusted Diluted Earnings per Share	$0.36	$0.24	$0.21	$0.25	($0.07)	$0.16	$0.24	$0.67	$0.64	$0.59
Adjusted Weighted Average Diluted Shares Outstanding	22.82M	22.83M	22.83M	22.77M	23.24M	22.95M	23.51M	23.77M	24.60M	24.27M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	23.13M	23.07M	23.07M	23.02M	23.02M	22.96M	23.33M	23.94M	23.92M	24.11M
Normalized Net Operating Profit after Tax (NOPAT)	8.28	5.63	4.80	5.81	-1.32	3.63	5.70	16	16	14
Normalized NOPAT Margin	23.99%	16.45%	14.28%	17.36%	-4.31%	11.10%	17.97%	35.02%	33.16%	33.54%
Pre Tax Income Margin	30.95%	20.54%	17.62%	21.62%	-6.16%	13.49%	18.14%	44.91%	40.53%	45.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.39	0.25	0.22	0.28	-0.08	0.21	0.34	1.84	2.85	4.22
NOPAT to Interest Expense	0.30	0.20	0.18	0.23	-0.05	0.17	0.34	1.43	2.33	3.13
EBIT Less CapEx to Interest Expense	0.28	0.19	0.16	0.23	-0.16	0.11	0.10	1.67	2.60	3.86
NOPAT Less CapEx to Interest Expense	0.19	0.13	0.11	0.18	-0.13	0.08	0.10	1.25	2.08	2.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	51.25%	106.81%	70.20%	46.99%	39.87%	38.46%	85.65%	100.42%

Frequently Asked Questions About Carter Bankshares' Financials

When does Carter Bankshares's fiscal year end?

According to the most recent income statement we have on file, Carter Bankshares' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Carter Bankshares' net income changed over the last 2 years?

Carter Bankshares' net income appears to be on a downward trend, with a most recent value of $24.52 million in 2024, falling from $50.12 million in 2022. The previous period was $23.38 million in 2023. See Carter Bankshares' forecast for analyst expectations on what’s next for the company.

How has Carter Bankshares revenue changed over the last 2 years?

Over the last 2 years, Carter Bankshares' total revenue changed from $161.65 million in 2022 to $135.83 million in 2024, a change of -16.0%.

How much debt does Carter Bankshares have?

Carter Bankshares' total liabilities were at $4.27 billion at the end of 2024, a 2.7% increase from 2023, and a 10.3% increase since 2022.

How much cash does Carter Bankshares have?

In the past 2 years, Carter Bankshares' cash and equivalents has ranged from $46.87 million in 2022 to $131.17 million in 2024, and is currently $131.17 million as of their latest financial filing in 2024.

How has Carter Bankshares' book value per share changed over the last 2 years?

Over the last 2 years, Carter Bankshares' book value per share changed from 13.63 in 2022 to 16.66 in 2024, a change of 22.2%.

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This page (NASDAQ:CARE) was last updated on 5/22/2025 by MarketBeat.com Staff

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Carter Bankshares (CARE) Financials

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Carter Bankshares (CARE) Financials

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