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SmartFinancial (SMBK) Financials

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$35.66 +1.14 (+3.29%)
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Annual Income Statements for SmartFinancial

Annual Income Statements for SmartFinancial

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 43 29 36
Consolidated Net Income / (Loss)		 43 29 36
Net Income / (Loss) Continuing Operations		 43 29 36
Total Pre-Tax Income 		55 36 45
Total Revenue		 165 152 172
Net Interest Income / (Expense)		 138 130 137
Total Interest Income		 159 218 251
Loans and Leases Interest Income		 136 186 214
Investment Securities Interest Income		 14 18 22
Other Interest Income		 8.49 13 16
Total Interest Expense		 21 88 114
Deposits Interest Expense		 18 84 109
Long-Term Debt Interest Expense		 3.11 3.70 4.51
Total Non-Interest Income		 28 22 34
Service Charges on Deposit Accounts		 5.85 6.51 6.86
Other Service Charges		 16 16 20
Net Realized & Unrealized Capital Gains on Investments		 0.14 -6.80 0.06
Investment Banking Income		 4.14 5.11 5.95
Other Non-Interest Income		 1.55 1.04 1.58
Provision for Credit Losses		 4.02 3.03 5.15
Total Non-Interest Expense		 106 113 121
Salaries and Employee Benefits		 63 66 72
Net Occupancy & Equipment Expense		 19 23 24
Marketing Expense		 1.29 1.34 1.32
Property & Liability Insurance Claims		 2.67 3.16 3.39
Other Operating Expenses		 16 17 18
Amortization Expense		 2.61 2.62 2.43
Restructuring Charge		 0.56 0.11 0.00
Income Tax Expense		 12 7.63 9.32
Basic Earnings per Share		 $2.57 $1.70 $2.16
Weighted Average Basic Shares Outstanding		 16.74M 16.81M 16.77M
Diluted Earnings per Share		 $2.55 $1.69 $2.14
Weighted Average Diluted Shares Outstanding		 16.87M 16.91M 16.88M
Weighted Average Basic & Diluted Shares Outstanding		 17.00M 17.06M 17.02M
Cash Dividends to Common per Share		 $0.28 $0.32 $0.32

Quarterly Income Statements for SmartFinancial

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 12 13 12 8.84 2.07 6.19 9.36 8.00 9.14 9.64
Consolidated Net Income / (Loss)		 12 13 12 8.84 2.07 6.19 9.36 8.00 9.14 9.64
Net Income / (Loss) Continuing Operations		 12 13 12 8.84 2.07 6.19 9.36 8.00 9.14 9.64
Total Pre-Tax Income 		15 17 15 11 2.39 7.83 12 10 11 12
Total Revenue		 43 45 43 39 32 39 40 40 44 47
Net Interest Income / (Expense)		 37 38 36 32 31 32 32 33 35 38
Total Interest Income		 42 47 53 52 55 57 60 61 64 66
Loans and Leases Interest Income		 35 40 45 45 48 49 50 51 55 58
Investment Securities Interest Income		 3.70 4.13 4.00 4.69 4.69 4.70 4.90 5.67 5.58 5.40
Other Interest Income		 3.47 3.10 4.45 1.96 3.05 4.03 4.86 4.76 3.64 2.74
Total Interest Expense		 5.59 9.70 17 21 24 26 28 28 29 28
Deposits Interest Expense		 4.87 8.84 16 20 23 25 27 27 27 27
Long-Term Debt Interest Expense		 0.72 0.86 0.85 0.97 0.84 1.05 1.03 1.03 1.57 0.88
Total Non-Interest Income		 6.25 7.13 6.93 7.13 0.69 7.58 8.38 7.60 9.14 9.03
Service Charges on Deposit Accounts		 1.61 1.48 1.45 1.66 1.74 1.67 1.61 1.69 1.78 1.78
Other Service Charges		 3.42 4.47 4.30 3.84 3.99 4.34 5.11 4.26 5.07 5.26
Investment Banking Income		 1.05 0.96 1.01 1.30 1.46 1.34 1.38 1.30 1.88 1.38
Other Non-Interest Income		 - - 0.17 0.33 0.31 0.23 0.28 0.35 0.41 0.54
Provision for Credit Losses		 0.97 0.79 0.55 0.11 0.80 1.57 -0.44 0.88 2.58 2.14
Total Non-Interest Expense		 27 27 28 27 29 30 29 29 31 32
Salaries and Employee Benefits		 16 16 17 16 17 16 17 17 18 20
Net Occupancy & Equipment Expense		 5.04 5.11 5.37 5.55 5.93 5.84 5.86 5.78 5.94 5.97
Marketing Expense		 0.29 0.31 0.36 0.31 0.35 0.34 0.30 0.30 0.33 0.40
Property & Liability Insurance Claims		 0.71 0.65 0.54 0.88 0.83 0.92 0.92 0.83 0.83 0.83
Other Operating Expenses		 4.14 4.32 3.86 4.06 3.88 5.69 4.22 4.44 4.70 4.75
Amortization Expense		 0.65 0.69 0.66 0.68 0.65 0.64 0.61 0.61 0.60 0.60
Income Tax Expense		 3.21 3.53 3.33 2.35 0.32 1.64 2.63 2.33 1.61 2.75
Basic Earnings per Share		 $0.69 $0.78 $0.69 $0.53 $0.12 $0.36 $0.56 $0.48 $0.55 $0.57
Weighted Average Basic Shares Outstanding		 16.75M 16.74M 16.79M 16.81M 16.81M 16.81M 16.85M 16.77M 16.73M 16.77M
Diluted Earnings per Share		 $0.68 $0.77 $0.68 $0.52 $0.12 $0.37 $0.55 $0.48 $0.54 $0.57
Weighted Average Diluted Shares Outstanding		 16.87M 16.87M 16.90M 16.90M 16.92M 16.91M 16.93M 16.85M 16.84M 16.88M
Weighted Average Basic & Diluted Shares Outstanding		 16.89M 17.00M 17.00M 17.00M 16.99M 17.06M 17.06M 16.92M 16.93M 17.02M

Annual Cash Flow Statements for SmartFinancial

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -779 86 35
Net Cash From Operating Activities		 57 40 53
Net Cash From Continuing Operating Activities		 57 40 53
Net Income / (Loss) Continuing Operations		 43 29 36
Consolidated Net Income / (Loss)		 43 29 36
Provision For Loan Losses		 4.02 3.03 5.15
Depreciation Expense		 10 11 8.99
Amortization Expense		 0.45 2.62 2.43
Non-Cash Adjustments to Reconcile Net Income		 1.94 4.93 -3.03
Changes in Operating Assets and Liabilities, net		 -2.67 -10 3.02
Net Cash From Investing Activities		 -841 -135 -420
Net Cash From Continuing Investing Activities		 -841 -135 -420
Purchase of Property, Leasehold Improvements and Equipment		 -12 -6.27 -6.41
Purchase of Investment Securities		 -906 -345 -638
Sale of Property, Leasehold Improvements and Equipment		 1.46 0.68 4.70
Sale and/or Maturity of Investments		 81 215 220
Other Investing Activities, net		 -4.88 0.00 0.00
Net Cash From Financing Activities		 5.37 181 403
Net Cash From Continuing Financing Activities		 5.37 181 403
Net Change in Deposits		 56 191 419
Issuance of Debt		 31 26 160
Issuance of Common Equity		 0.40 0.17 0.07
Repayment of Debt		 -76 -31 -167
Repurchase of Common Equity		 0.00 0.00 -2.97
Payment of Dividends		 -4.72 -5.43 -5.42
Other Financing Activities, Net		 -0.52 0.25 -1.05
Cash Interest Paid		 21 85 114
Cash Income Taxes Paid		 12 9.35 8.77

Quarterly Cash Flow Statements for SmartFinancial

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -112 -277 41 -68 161 -48 126 -135 -150 195
Net Cash From Operating Activities		 13 15 11 9.98 6.68 12 7.08 17 12 17
Net Cash From Continuing Operating Activities		 13 15 11 9.98 6.68 12 7.08 17 12 17
Net Income / (Loss) Continuing Operations		 12 13 12 8.84 2.07 6.19 9.36 8.00 9.14 9.64
Consolidated Net Income / (Loss)		 12 13 12 8.84 2.07 6.19 9.36 8.00 9.14 9.64
Provision For Loan Losses		 0.97 0.79 0.55 0.11 0.80 1.57 -0.44 0.88 2.58 2.14
Depreciation Expense		 2.56 2.56 2.61 2.89 2.87 2.50 2.46 2.21 2.23 2.09
Amortization Expense		 -0.11 -0.71 0.66 0.68 0.65 0.64 0.61 0.61 0.60 0.60
Non-Cash Adjustments to Reconcile Net Income		 -1.50 0.66 1.98 0.55 4.89 -2.49 -0.38 1.47 -3.25 -0.87
Changes in Operating Assets and Liabilities, net		 -0.29 -1.10 -5.95 -3.09 -4.59 3.29 -4.53 3.37 1.10 3.09
Net Cash From Investing Activities		 -128 -111 -97 -46 86 -79 -3.02 -73 -161 -184
Net Cash From Continuing Investing Activities		 -128 -111 -97 -46 86 -79 -3.02 -73 -161 -184
Purchase of Property, Leasehold Improvements and Equipment		 -3.33 -1.80 -1.56 -1.50 -0.96 -2.25 -2.91 -1.10 -1.06 -1.33
Purchase of Investment Securities		 -133 -156 -106 -58 -79 -102 -115 -136 -175 -211
Sale and/or Maturity of Investments		 13 46 9.66 14 166 25 112 63 16 28
Net Cash From Financing Activities		 3.37 -181 126 -32 69 19 122 -79 -1.79 362
Net Cash From Continuing Financing Activities		 3.37 -181 126 -32 69 19 122 -79 -1.71 362
Net Change in Deposits		 -1.13 -203 152 -30 47 21 126 -77 5.85 364
Issuance of Debt		 5.00 26 - - - 0.28 - - 151 5.10
Repayment of Debt		 - -1.30 -25 -28 22 -0.28 -2.00 -2.00 -157 -6.10
Payment of Dividends		 -1.18 -1.18 -1.35 -1.36 -1.36 -1.36 -1.36 -1.35 -1.35 -1.35
Other Financing Activities, Net		 0.87 -1.35 -0.73 0.95 1.12 -1.10 -1.36 1.01 -0.74 0.03
Cash Interest Paid		 6.36 8.73 17 19 24 25 29 28 28 28
Cash Income Taxes Paid		 4.62 3.95 0.02 8.56 0.83 -0.06 0.01 4.29 2.43 2.05

Annual Balance Sheets for SmartFinancial

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 4,637 4,829 5,276
Cash and Due from Banks		 44 62 97
Federal Funds Sold		 15 57 14
Interest Bearing Deposits at Other Banks		 207 233 277
Trading Account Securities		 770 281 127
Loans and Leases, Net of Allowance		 3,230 3,409 3,869
Loans and Leases		 3,254 3,444 3,906
Allowance for Loan and Lease Losses		 23 35 37
Loans Held for Sale		 1.75 4.42 6.00
Premises and Equipment, Net		 93 93 91
Intangible Assets		 110 107 105
Other Assets		 167 582 691
Total Liabilities & Shareholders' Equity		 4,637 4,829 5,276
Total Liabilities		 4,205 4,370 4,784
Non-Interest Bearing Deposits		 1,072 898 966
Interest Bearing Deposits		 3,005 3,370 3,721
Long-Term Debt		 84 55 48
Other Long-Term Liabilities		 44 46 50
Total Equity & Noncontrolling Interests		 432 460 491
Total Preferred & Common Equity		 432 460 491
Total Common Equity		 432 460 491
Common Stock		 311 313 311
Retained Earnings		 157 173 204
Accumulated Other Comprehensive Income / (Loss)		 -35 -26 -24
Noncontrolling Interest		 - 0.00 0.11

Quarterly Balance Sheets for SmartFinancial

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 4,797 4,770 4,746 4,797 4,955 4,891 4,909
Cash and Due from Banks		 46 342 38 63 48 60 65
Federal Funds Sold		 68 67 2.61 40 86 63 2.51
Interest Bearing Deposits at Other Banks		 428 205 199 298 344 220 125
Trading Account Securities		 807 845 824 667 655 630 629
Loans and Leases, Net of Allowance		 3,076 3,250 3,305 3,345 3,443 3,539 3,682
Loans and Leases		 3,099 3,282 3,338 3,379 3,478 3,574 3,717
Allowance for Loan and Lease Losses		 23 32 33 34 34 35 36
Loans Held for Sale		 2.74 - 0.99 2.73 4.86 3.10 5.80
Premises and Equipment, Net		 92 92 92 92 93 91 91
Intangible Assets		 110 109 108 108 107 106 105
Other Assets		 166 148 176 182 175 179 203
Total Liabilities & Shareholders' Equity		 4,797 4,770 4,746 4,797 4,955 4,891 4,909
Total Liabilities		 4,382 3,320 4,301 4,351 4,488 4,419 4,420
Non-Interest Bearing Deposits		 1,186 990 1,003 924 907 903 864
Interest Bearing Deposits		 3,094 2,250 3,196 3,323 3,487 3,413 3,459
Long-Term Debt		 60 42 58 56 52 55 49
Other Long-Term Liabilities		 41 38 44 48 42 47 49
Commitments & Contingencies		 - - - - - 0.00 0.00
Total Equity & Noncontrolling Interests		 415 443 445 447 467 472 489
Total Preferred & Common Equity		 415 443 445 447 467 472 489
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 415 443 445 447 467 472 489
Common Stock		 311 312 312 313 313 311 311
Retained Earnings		 145 160 168 168 181 188 196
Accumulated Other Comprehensive Income / (Loss)		 -41 -29 -35 -34 -27 -26 -17

Annual Metrics And Ratios for SmartFinancial

This table displays calculated financial ratios and metrics derived from SmartFinancial's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 20.29% -7.75% 12.53%
EBITDA Growth		 22.64% -23.96% 14.38%
EBIT Growth		 23.89% -34.02% 25.49%
NOPAT Growth		 23.66% -33.54% 26.40%
Net Income Growth		 23.66% -33.54% 26.40%
EPS Growth		 14.86% -33.73% 26.63%
Operating Cash Flow Growth		 22.98% -30.07% 32.69%
Free Cash Flow Firm Growth		 204.15% -96.97% -60.06%
Invested Capital Growth		 -64.59% -0.24% 4.70%
Revenue Q/Q Growth		 5.14% -3.57% 4.71%
EBITDA Q/Q Growth		 2.55% -12.98% 7.78%
EBIT Q/Q Growth		 17.34% -19.37% 11.14%
NOPAT Q/Q Growth		 17.31% -19.25% 10.55%
Net Income Q/Q Growth		 17.31% -19.25% 10.55%
EPS Q/Q Growth		 18.06% -19.14% 10.31%
Operating Cash Flow Q/Q Growth		 34.54% -8.11% 10.43%
Free Cash Flow Firm Q/Q Growth		 742.27% 288.31% 655.90%
Invested Capital Q/Q Growth		 8.67% 2.43% 0.30%
Profitability Metrics		 - - -
EBITDA Margin		 39.58% 32.63% 33.16%
EBIT Margin		 33.23% 23.77% 26.51%
Profit (Net Income) Margin		 26.04% 18.76% 21.07%
Tax Burden Percent		 78.35% 78.93% 79.50%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 21.65% 21.07% 20.50%
Return on Invested Capital (ROIC)		 4.36% 5.54% 6.86%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.36% 5.54% 6.86%
Return on Net Nonoperating Assets (RNNOA)		 5.63% 0.86% 0.74%
Return on Equity (ROE)		 9.98% 6.41% 7.60%
Cash Return on Invested Capital (CROIC)		 99.76% 5.79% 2.26%
Operating Return on Assets (OROA)		 1.19% 0.77% 0.90%
Return on Assets (ROA)		 0.93% 0.60% 0.72%
Return on Common Equity (ROCE)		 9.98% 6.41% 7.60%
Return on Equity Simple (ROE_SIMPLE)		 9.95% 6.22% 7.36%
Net Operating Profit after Tax (NOPAT)		 43 29 36
NOPAT Margin		 26.04% 18.76% 21.07%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 50.86% 58.91% 56.54%
Operating Expenses to Revenue		 64.33% 74.24% 70.49%
Earnings before Interest and Taxes (EBIT)		 55 36 45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 65 50 57
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.04 0.89 1.06
Price to Tangible Book Value (P/TBV)		 1.40 1.16 1.35
Price to Revenue (P/Rev)		 2.73 2.69 3.05
Price to Earnings (P/E)		 10.49 14.35 14.48
Dividend Yield		 1.31% 1.33% 1.04%
Earnings Yield		 9.53% 6.97% 6.91%
Enterprise Value to Invested Capital (EV/IC)		 0.52 0.22 0.34
Enterprise Value to Revenue (EV/Rev)		 1.63 0.74 1.07
Enterprise Value to EBITDA (EV/EBITDA)		 4.11 2.28 3.23
Enterprise Value to EBIT (EV/EBIT)		 4.90 3.12 4.04
Enterprise Value to NOPAT (EV/NOPAT)		 6.25 3.96 5.08
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.73 2.85 3.48
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.27 3.79 15.39
Leverage & Solvency		 - - -
Debt to Equity		 0.19 0.12 0.10
Long-Term Debt to Equity		 0.19 0.12 0.10
Financial Leverage		 1.29 0.16 0.11
Leverage Ratio		 10.73 10.61 10.62
Compound Leverage Factor		 10.73 10.61 10.62
Debt to Total Capital		 16.24% 10.71% 8.87%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 16.24% 10.71% 8.87%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.02%
Common Equity to Total Capital		 83.76% 89.29% 91.11%
Debt to EBITDA		 1.28 1.11 0.84
Net Debt to EBITDA		 -2.79 -5.97 -5.97
Long-Term Debt to EBITDA		 1.28 1.11 0.84
Debt to NOPAT		 1.95 1.93 1.32
Net Debt to NOPAT		 -4.24 -10.39 -9.40
Long-Term Debt to NOPAT		 1.95 1.93 1.32
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.01%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 985 30 12
Operating Cash Flow to CapEx		 515.04% 710.74% 3,087.29%
Free Cash Flow to Firm to Interest Expense		 46.16 0.34 0.10
Operating Cash Flow to Interest Expense		 2.66 0.45 0.46
Operating Cash Flow Less CapEx to Interest Expense		 2.15 0.39 0.45
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.03 0.03
Fixed Asset Turnover		 1.85 1.64 1.86
Capital & Investment Metrics		 - - -
Invested Capital		 516 515 539
Invested Capital Turnover		 0.17 0.30 0.33
Increase / (Decrease) in Invested Capital		 -942 -1.26 24
Enterprise Value (EV)		 269 113 184
Market Capitalization		 451 410 523
Book Value per Share		 $25.61 $27.06 $29.03
Tangible Book Value per Share		 $19.11 $20.76 $22.84
Total Capital		 516 515 539
Total Debt		 84 55 48
Total Long-Term Debt		 84 55 48
Net Debt		 -183 -297 -340
Capital Expenditures (CapEx)		 11 5.59 1.71
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 84 55 48
Total Depreciation and Amortization (D&A)		 10 13 11
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $2.57 $1.70 $2.16
Adjusted Weighted Average Basic Shares Outstanding		 16.74M 16.81M 16.77M
Adjusted Diluted Earnings per Share		 $2.55 $1.69 $2.14
Adjusted Weighted Average Diluted Shares Outstanding		 16.87M 16.91M 16.88M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 17.00M 17.06M 17.02M
Normalized Net Operating Profit after Tax (NOPAT)		 43 29 36
Normalized NOPAT Margin		 26.31% 18.82% 21.07%
Pre Tax Income Margin		 33.23% 23.77% 26.51%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 2.57 0.41 0.40
NOPAT to Interest Expense		 2.02 0.33 0.32
EBIT Less CapEx to Interest Expense		 2.06 0.35 0.38
NOPAT Less CapEx to Interest Expense		 1.50 0.26 0.30
Payout Ratios		 - - -
Dividend Payout Ratio		 10.98% 18.98% 15.00%
Augmented Payout Ratio		 10.98% 18.98% 23.21%

Quarterly Metrics And Ratios for SmartFinancial

This table displays calculated financial ratios and metrics derived from SmartFinancial's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 17.08% 22.03% 15.25% -3.94% -26.21% -12.61% -6.54% 4.43% 39.35% 19.74%
EBITDA Growth		 41.53% 9.68% 33.79% -9.40% -65.70% -40.32% -16.80% -10.82% 130.26% 37.39%
EBIT Growth		 20.61% 96.41% 41.15% -14.74% -83.83% -52.64% -19.15% -7.58% 350.54% 58.20%
NOPAT Growth		 20.24% 95.39% 39.24% -13.50% -82.09% -52.40% -18.63% -9.43% 342.19% 55.74%
Net Income Growth		 20.24% 95.39% 39.24% -13.50% -82.09% -52.40% -18.63% -9.43% 342.19% 55.74%
EPS Growth		 11.48% 102.63% 38.78% -14.75% -82.35% -51.95% -19.12% -7.69% 350.00% 54.05%
Operating Cash Flow Growth		 -8.32% 2,310.78% 6.17% -43.69% -49.29% -23.04% -37.68% 65.84% 85.58% 42.51%
Free Cash Flow Firm Growth		 -43.59% 198.05% -22,303.83% -169.25% -127.95% -99.22% 200.08% 9.02% -0.17% -295.56%
Invested Capital Growth		 -14.45% -64.59% 199.12% 5.78% 5.83% -0.24% -65.22% 4.96% 6.93% 4.70%
Revenue Q/Q Growth		 6.62% 4.14% -4.09% -9.79% -18.11% 23.34% 2.57% 0.79% 9.29% 5.98%
EBITDA Q/Q Growth		 5.64% 6.93% -1.57% -18.52% -60.00% 86.05% 37.22% -12.66% 3.27% 11.01%
EBIT Q/Q Growth		 12.50% 12.06% -10.32% -24.59% -78.66% 228.16% 53.10% -13.80% 4.03% 15.23%
NOPAT Q/Q Growth		 13.00% 12.67% -11.57% -23.17% -76.61% 199.47% 51.18% -14.48% 14.21% 5.47%
Net Income Q/Q Growth		 13.00% 12.67% -11.57% -23.17% -76.61% 199.47% 51.18% -14.48% 14.21% 5.47%
EPS Q/Q Growth		 11.48% 13.24% -11.69% -23.53% -76.92% 208.33% 48.65% -12.73% 12.50% 5.56%
Operating Cash Flow Q/Q Growth		 -25.63% 15.47% -25.36% -12.15% -33.03% 75.25% -39.56% 133.79% -25.06% 34.58%
Free Cash Flow Firm Q/Q Growth		 241.48% 940.16% -202.80% 98.10% -37.80% 129.06% 13,078.32% -101.72% -51.72% 43.27%
Invested Capital Q/Q Growth		 0.04% 8.67% 188.91% -66.32% 0.09% 2.43% 0.72% 1.65% 1.96% 0.30%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 40.03% 41.10% 42.19% 38.11% 18.61% 28.07% 37.56% 32.54% 30.75% 32.21%
EBIT Margin		 34.35% 36.96% 34.56% 28.89% 7.53% 20.03% 29.89% 25.57% 24.34% 26.46%
Profit (Net Income) Margin		 26.87% 29.07% 26.80% 22.83% 6.52% 15.83% 23.34% 19.80% 20.69% 20.59%
Tax Burden Percent		 78.24% 78.66% 77.56% 79.02% 86.63% 79.05% 78.06% 77.44% 85.02% 77.82%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 21.76% 21.34% 22.44% 20.98% 13.37% 20.95% 21.94% 22.56% 14.98% 22.18%
Return on Invested Capital (ROIC)		 8.19% 4.86% 4.60% 7.91% 2.11% 4.68% 3.47% 5.82% 6.51% 6.70%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.19% 4.86% 4.60% 7.91% 2.11% 4.68% 3.47% 5.82% 6.51% 6.70%
Return on Net Nonoperating Assets (RNNOA)		 1.87% 6.28% 6.01% 1.02% 0.29% 0.73% 4.20% 0.71% 0.73% 0.73%
Return on Equity (ROE)		 10.06% 11.14% 10.61% 8.93% 2.39% 5.41% 7.67% 6.53% 7.24% 7.42%
Cash Return on Invested Capital (CROIC)		 22.69% 99.76% -95.13% 3.57% 1.57% 5.79% 99.42% 0.13% -0.41% 2.26%
Operating Return on Assets (OROA)		 1.18% 1.32% 1.24% 1.03% 0.25% 0.64% 0.92% 0.80% 0.82% 0.90%
Return on Assets (ROA)		 0.92% 1.04% 0.97% 0.81% 0.21% 0.51% 0.72% 0.62% 0.70% 0.70%
Return on Common Equity (ROCE)		 10.06% 11.14% 10.61% 8.93% 2.39% 5.41% 7.67% 6.53% 7.24% 7.42%
Return on Equity Simple (ROE_SIMPLE)		 8.84% 0.00% 10.43% 10.09% 7.93% 0.00% 5.67% 5.42% 6.69% 0.00%
Net Operating Profit after Tax (NOPAT)		 12 13 12 8.84 2.07 6.19 9.36 8.00 9.14 9.64
NOPAT Margin		 26.87% 29.07% 26.80% 22.83% 6.52% 15.83% 23.34% 19.80% 20.69% 20.59%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 50.38% 48.74% 52.36% 56.34% 72.74% 57.42% 56.86% 57.73% 55.96% 55.79%
Operating Expenses to Revenue		 63.39% 61.28% 64.16% 70.82% 89.96% 75.95% 71.20% 72.25% 69.83% 68.98%
Earnings before Interest and Taxes (EBIT)		 15 17 15 11 2.39 7.83 12 10 11 12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 17 18 18 15 5.90 11 15 13 14 15
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.98 1.04 0.87 0.81 0.80 0.89 0.76 0.85 1.01 1.06
Price to Tangible Book Value (P/TBV)		 1.33 1.40 1.15 1.07 1.06 1.16 0.99 1.10 1.28 1.35
Price to Revenue (P/Rev)		 2.58 2.73 2.25 2.12 2.26 2.69 2.39 2.66 3.00 3.05
Price to Earnings (P/E)		 11.06 10.49 8.33 8.01 10.10 14.35 13.50 15.72 15.05 14.48
Dividend Yield		 1.12% 1.31% 1.59% 1.75% 1.81% 1.33% 1.91% 1.36% 1.10% 1.04%
Earnings Yield		 9.04% 9.53% 12.01% 12.48% 9.90% 6.97% 7.41% 6.36% 6.64% 6.91%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.52 0.00 0.35 0.03 0.22 0.00 0.22 0.65 0.34
Enterprise Value to Revenue (EV/Rev)		 0.00 1.63 0.00 1.05 0.09 0.74 0.00 0.76 2.12 1.07
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 4.11 0.00 2.60 0.24 2.28 0.00 2.54 6.59 3.23
Enterprise Value to EBIT (EV/EBIT)		 0.00 4.90 0.00 3.11 0.30 3.12 0.00 3.53 8.50 4.04
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 6.25 0.00 3.97 0.38 3.96 0.00 4.48 10.64 5.08
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 4.73 0.00 3.59 0.31 2.85 0.00 2.73 7.29 3.48
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.27 0.00 10.22 1.76 3.79 0.00 168.95 0.00 15.39
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.15 0.19 0.09 0.13 0.13 0.12 0.11 0.12 0.10 0.10
Long-Term Debt to Equity		 0.15 0.19 0.09 0.13 0.13 0.12 0.11 0.12 0.10 0.10
Financial Leverage		 0.23 1.29 1.31 0.13 0.14 0.16 1.21 0.12 0.11 0.11
Leverage Ratio		 10.94 10.73 10.99 11.02 11.14 10.61 10.68 10.51 10.37 10.62
Compound Leverage Factor		 10.94 10.73 10.99 11.02 11.14 10.61 10.68 10.51 10.37 10.62
Debt to Total Capital		 12.72% 16.24% 8.66% 11.46% 11.18% 10.71% 10.02% 10.41% 9.05% 8.87%
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		 12.72% 16.24% 8.66% 11.46% 11.18% 10.71% 10.02% 10.41% 9.05% 8.87%
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% 0.02%
Common Equity to Total Capital		 87.28% 83.76% 91.34% 88.54% 88.82% 89.29% 89.98% 89.59% 90.95% 91.11%
Debt to EBITDA		 0.95 1.28 0.60 0.84 0.98 1.11 1.11 1.22 0.92 0.84
Net Debt to EBITDA		 -7.57 -2.79 -8.17 -2.65 -6.02 -5.97 -9.12 -6.39 -2.73 -5.97
Long-Term Debt to EBITDA		 0.95 1.28 0.60 0.84 0.98 1.11 1.11 1.22 0.92 0.84
Debt to NOPAT		 1.65 1.95 0.91 1.28 1.59 1.93 1.96 2.14 1.49 1.32
Net Debt to NOPAT		 -13.16 -4.24 -12.36 -4.04 -9.72 -10.39 -16.10 -11.24 -4.41 -9.40
Long-Term Debt to NOPAT		 1.65 1.95 0.91 1.28 1.59 1.93 1.96 2.14 1.49 1.32
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 92 955 -982 -19 -26 7.45 982 -17 -26 -15
Operating Cash Flow to CapEx		 418.22% 846.52% 1,210.45% 665.89% 705.39% 530.93% 0.00% 0.00% 1,175.07% 1,251.61%
Free Cash Flow to Firm to Interest Expense		 16.42 98.43 -57.08 -0.91 -1.06 0.29 35.01 -0.59 -0.89 -0.51
Operating Cash Flow to Interest Expense		 2.36 1.57 0.66 0.49 0.28 0.45 0.25 0.58 0.43 0.59
Operating Cash Flow Less CapEx to Interest Expense		 1.79 1.38 0.61 0.41 0.24 0.37 0.26 0.59 0.39 0.54
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.03 0.04 0.04 0.04 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 1.77 1.85 1.93 1.86 1.72 1.64 1.62 1.65 1.79 1.86
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 475 516 1,492 502 503 515 519 527 538 539
Invested Capital Turnover		 0.31 0.17 0.17 0.35 0.32 0.30 0.15 0.29 0.31 0.33
Increase / (Decrease) in Invested Capital		 -80 -942 993 27 28 -1.26 -973 25 35 24
Enterprise Value (EV)		 -77 269 -187 178 14 113 -69 115 348 184
Market Capitalization		 406 451 385 360 358 410 357 403 492 523
Book Value per Share		 $24.54 $25.61 $26.09 $26.16 $26.27 $27.06 $27.37 $27.69 $28.90 $29.03
Tangible Book Value per Share		 $18.00 $19.11 $19.67 $19.78 $19.93 $20.76 $21.12 $21.48 $22.67 $22.84
Total Capital		 475 516 485 502 503 515 519 527 538 539
Total Debt		 60 84 42 58 56 55 52 55 49 48
Total Long-Term Debt		 60 84 42 58 56 55 52 55 49 48
Net Debt		 -483 -183 -572 -181 -344 -297 -426 -288 -144 -340
Capital Expenditures (CapEx)		 3.15 1.80 0.94 1.50 0.95 2.21 -0.33 -0.35 1.06 1.33
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 60 84 1,048 58 56 55 52 55 49 48
Total Depreciation and Amortization (D&A)		 2.44 1.86 3.27 3.57 3.51 3.15 3.07 2.82 2.83 2.69
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.69 $0.78 $0.69 $0.53 $0.12 $0.36 $0.56 $0.48 $0.55 $0.57
Adjusted Weighted Average Basic Shares Outstanding		 16.75M 16.74M 16.79M 16.81M 16.81M 16.81M 16.85M 16.77M 16.73M 16.77M
Adjusted Diluted Earnings per Share		 $0.68 $0.77 $0.68 $0.52 $0.12 $0.37 $0.55 $0.48 $0.54 $0.57
Adjusted Weighted Average Diluted Shares Outstanding		 16.87M 16.87M 16.90M 16.90M 16.92M 16.91M 16.93M 16.85M 16.84M 16.88M
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		 16.89M 17.00M 17.00M 17.00M 16.99M 17.06M 17.06M 16.92M 16.93M 17.02M
Normalized Net Operating Profit after Tax (NOPAT)		 12 13 12 8.84 2.16 6.19 9.36 8.00 9.14 9.64
Normalized NOPAT Margin		 27.03% 28.99% 26.80% 22.83% 6.82% 15.83% 23.34% 19.80% 20.69% 20.59%
Pre Tax Income Margin		 34.35% 36.96% 34.56% 28.89% 7.53% 20.03% 29.89% 25.57% 24.34% 26.46%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 2.64 1.70 0.86 0.55 0.10 0.30 0.43 0.36 0.37 0.44
NOPAT to Interest Expense		 2.07 1.34 0.67 0.43 0.09 0.24 0.33 0.28 0.32 0.34
EBIT Less CapEx to Interest Expense		 2.08 1.52 0.81 0.47 0.06 0.22 0.44 0.38 0.34 0.39
NOPAT Less CapEx to Interest Expense		 1.50 1.16 0.61 0.36 0.05 0.15 0.35 0.29 0.28 0.29
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 12.41% 10.98% 10.59% 11.31% 14.84% 18.98% 20.54% 21.20% 16.59% 15.00%
Augmented Payout Ratio		 12.24% 10.98% 10.59% 11.31% 15.02% 18.98% 20.54% 32.78% 25.67% 23.21%

Financials Breakdown Chart

Key Financial Trends

SmartFinancial Inc. (NASDAQ: SMBK) has demonstrated solid financial growth over the past two years, as reflected in its quarterly income statements, cash flow, and balance sheets. Here's an analysis of key financial trends and metrics for investors to consider:

  • Increasing Net Interest Income: After a dip in early 2023, net interest income has steadily increased through 2024, reaching approximately $37.8 million in Q4 2024, up from $31.5 million in Q4 2022. This suggests improved profitability from lending and investment activities.
  • Consistent Net Income Growth: Quarterly net income attributable to common shareholders has grown from about $6.2 million in Q4 2022 to $9.6 million in Q4 2024, indicating consistent earnings growth.
  • Strong Operating Cash Flow: Net cash from continuing operating activities increased from $11.7 million in Q4 2023 to $16.7 million in Q4 2024, showing solid cash generation supporting operations.
  • Loan Growth and Asset Expansion: Loans and leases net of allowance rose from approximately $3.44 billion in Q1 2023 to $3.69 billion by Q3 2024, indicating loan portfolio expansion.
  • Deposit Growth: Net changes in deposits, particularly in Q4 2024, surged by $364 million, supporting liquidity and funding.
  • Stable Earnings per Share (EPS): Diluted EPS showed steady improvement from $0.37 in Q4 2022 to $0.57 in Q4 2024, reflecting growing shareholder value.
  • Rising Non-Interest Expense: Non-interest expenses have grown somewhat, with Q4 2024 expenses at $32.3 million compared to $27.5 million in Q4 2022. While expenses grew, they were outpaced by revenue growth.
  • Provision for Credit Losses Varied: The provision for credit losses fluctuated across quarters, increasing in some quarters such as Q3 2024 ($2.6 million) and decreasing or even negative in Q1 2024 (-$440k). This variability reflects changing credit risk assessments.
  • Long-Term Debt Levels Fluctuated: Long-term debt increased to about $54.87 million by Q2 2024 and then decreased to $48.66 million by Q3 2024, indicating active debt management.
  • Investment Securities Activity Resulting in High Cash Outflows: The company engaged in significant purchases of investment securities, notably $211 million in Q4 2024, which led to large net cash outflows in investing activities, reaching -$184 million in Q4 2024. This heavy investment could strain liquidity if not balanced by cash inflows.

Summary: SmartFinancial has shown consistent growth in core banking revenues, especially net interest income, alongside expanding loans and deposits. Earnings and cash flow from operations are trending positively, which supports the firm's financial health. However, rising expenses and significant cash outflows into investment securities warrant monitoring. The company's active balance sheet management with fluctuating long-term debt and provisions for credit losses highlights a focus on risk and capital structure optimization.

Retail investors may find SMBK’s steady earnings growth and strong operating cash flow appealing, but should be aware of investment activity impacts and expense trends. Overall, SmartFinancial appears well-positioned for continued moderate growth.

10/24/25 12:04 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About SmartFinancial's Financials

When does SmartFinancial's fiscal year end?

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

How has SmartFinancial's net income changed over the last 2 years?

SmartFinancial's net income appears to be on a downward trend, with a most recent value of $36.14 million in 2024, falling from $43.02 million in 2022. The previous period was $28.59 million in 2023. View SmartFinancial's forecast to see where analysts expect SmartFinancial to go next.

How has SmartFinancial's revenue changed over the last 2 years?

Over the last 2 years, SmartFinancial's total revenue changed from $165.22 million in 2022 to $171.50 million in 2024, a change of 3.8%.

How much debt does SmartFinancial have?

SmartFinancial's total liabilities were at $4.78 billion at the end of 2024, a 9.5% increase from 2023, and a 13.8% increase since 2022.

How much cash does SmartFinancial have?

In the past 2 years, SmartFinancial's cash and equivalents has ranged from $44.27 million in 2022 to $96.51 million in 2024, and is currently $96.51 million as of their latest financial filing in 2024.

How has SmartFinancial's book value per share changed over the last 2 years?

Over the last 2 years, SmartFinancial's book value per share changed from 25.61 in 2022 to 29.03 in 2024, a change of 13.4%.


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This page (NASDAQ:SMBK) was last updated on 10/24/2025 by MarketBeat.com Staff
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