South Plains Financial (SPFI) Financials

$34.17 +0.43 (+1.27%)

Closing price 05/2/2025 04:00 PM Eastern

Extended Trading

$34.14 -0.04 (-0.10%)

As of 05/2/2025 04:05 PM Eastern

Annual Income Statements for South Plains Financial

This table shows South Plains Financial'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	58	63	50
Consolidated Net Income / (Loss)	58	63	50
Net Income / (Loss) Continuing Operations	58	63	50
Total Pre-Tax Income	73	79	63
Total Revenue	215	219	195
Net Interest Income / (Expense)	138	140	147
Total Interest Income	161	212	241
Loans and Leases Interest Income	138	177	202
Investment Securities Interest Income	20	25	24
Federal Funds Sold and Securities Borrowed Interest Income	3.68	9.97	14
Total Interest Expense	23	72	94
Deposits Interest Expense	17	65	87
Long-Term Debt Interest Expense	5.69	7.30	6.72
Total Non-Interest Income	76	79	48
Service Charges on Deposit Accounts	6.83	7.13	8.03
Other Service Charges	44	23	25
Net Realized & Unrealized Capital Gains on Investments	21	45	11
Investment Banking Income	1.83	1.70	1.70
Other Non-Interest Income	2.39	2.43	2.72
Provision for Credit Losses	-2.62	4.61	4.30
Total Non-Interest Expense	144	135	128
Salaries and Employee Benefits	86	79	74
Net Occupancy & Equipment Expense	20	20	20
Marketing Expense	3.61	3.45	3.78
Other Operating Expenses	34	33	29
Income Tax Expense	15	17	14
Basic Earnings per Share	$3.35	$3.73	$3.03
Weighted Average Basic Shares Outstanding	17.05M	16.43M	16.49M
Diluted Earnings per Share	$3.23	$3.62	$2.92
Weighted Average Diluted Shares Outstanding	17.05M	16.43M	16.49M
Weighted Average Basic & Diluted Shares Outstanding	17.05M	16.43M	16.49M
Cash Dividends to Common per Share	$0.46	$0.52	$0.56

This table shows South Plains Financial'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	15	13	9.24	30	13	10	11	11	11	16
Consolidated Net Income / (Loss)	15	13	9.24	30	13	10	11	11	11	16
Net Income / (Loss) Continuing Operations	15	13	9.24	30	13	10	11	11	11	16
Total Pre-Tax Income	19	16	12	37	17	13	14	14	14	21
Total Revenue	56	49	45	82	48	44	47	49	48	52
Net Interest Income / (Expense)	35	36	34	35	36	35	35	36	37	39
Total Interest Income	41	46	47	51	57	57	59	59	62	61
Loans and Leases Interest Income	34	39	40	43	46	48	49	51	52	51
Investment Securities Interest Income	5.35	5.99	6.36	6.47	6.26	6.38	6.32	6.09	6.10	5.80
Federal Funds Sold and Securities Borrowed Interest Income	1.29	1.55	1.50	1.48	4.03	2.96	3.48	2.55	4.03	4.27
Total Interest Expense	6.01	9.91	13	16	21	22	23	23	24	23
Deposits Interest Expense	4.54	8.26	11	14	19	20	22	22	23	21
Long-Term Debt Interest Expense	1.47	1.65	1.76	1.81	1.87	1.86	1.70	1.69	1.69	1.64
Total Non-Interest Income	21	13	11	47	12	9.15	11	13	11	13
Service Charges on Deposit Accounts	1.76	1.68	1.70	1.75	1.84	1.84	1.81	1.95	2.02	2.24
Other Service Charges	14	7.16	5.08	7.33	6.50	4.24	5.75	6.80	4.89	7.65
Net Realized & Unrealized Capital Gains on Investments	4.45	2.84	2.92	37	2.92	1.95	2.65	2.79	2.72	2.37
Investment Banking Income	0.39	0.42	0.39	0.42	0.43	0.46	0.43	0.45	0.39	0.43
Other Non-Interest Income	0.57	0.58	0.60	0.60	0.58	0.65	0.75	0.72	0.61	0.63
Provision for Credit Losses	-0.78	0.25	1.01	3.70	-0.70	0.60	0.83	1.78	0.50	1.20
Total Non-Interest Expense	37	33	32	40	31	31	32	33	33	30
Salaries and Employee Benefits	23	19	19	23	19	18	19	19	19	17
Net Occupancy & Equipment Expense	5.04	4.96	4.70	5.19	4.93	4.70	4.91	5.12	5.35	5.02
Marketing Expense	0.91	1.22	0.94	0.78	0.85	0.88	0.75	0.86	1.02	1.15
Other Operating Expenses	8.52	7.82	7.48	11	7.00	7.04	7.28	7.40	8.00	6.39
Income Tax Expense	3.96	3.42	2.39	7.81	3.68	2.79	3.14	3.12	3.09	4.22
Basic Earnings per Share	$0.89	$0.74	$0.54	$1.74	$0.80	$0.65	$0.66	$0.68	$0.68	$1.01
Weighted Average Basic Shares Outstanding	17.00M	17.05M	17.06M	16.91M	16.48M	16.43M	16.42M	16.39M	16.39M	16.49M
Diluted Earnings per Share	$0.86	$0.71	$0.53	$1.71	$0.78	$0.60	$0.64	$0.66	$0.66	$0.96
Weighted Average Diluted Shares Outstanding	17.00M	17.05M	17.06M	16.91M	16.48M	16.43M	16.42M	16.39M	16.39M	16.49M
Weighted Average Basic & Diluted Shares Outstanding	17.00M	17.05M	17.06M	16.91M	16.48M	16.43M	16.42M	16.39M	16.39M	16.49M

This table details how cash moves in and out of South Plains Financial'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	-252	95	29
Net Cash From Operating Activities	124	59	59
Net Cash From Continuing Operating Activities	124	59	59
Net Income / (Loss) Continuing Operations	58	63	50
Consolidated Net Income / (Loss)	58	63	50
Provision For Loan Losses	-2.62	4.75	4.41
Depreciation Expense	6.97	6.41	6.51
Amortization Expense	4.07	3.38	2.84
Non-Cash Adjustments to Reconcile Net Income	41	-13	-6.26
Changes in Operating Assets and Liabilities, net	16	-5.84	2.17
Net Cash From Investing Activities	-409	-143	-14
Net Cash From Continuing Investing Activities	-409	-143	-14
Purchase of Property, Leasehold Improvements and Equipment	-4.47	-4.68	-3.35
Purchase of Investment Securities	-488	-470	-351
Sale of Property, Leasehold Improvements and Equipment	0.48	0.97	0.38
Divestitures	0.00	36	0.00
Sale and/or Maturity of Investments	83	294	340
Net Cash From Financing Activities	33	180	-17
Net Cash From Continuing Financing Activities	33	180	-17
Net Change in Deposits	65	220	-5.28
Repayment of Debt	0.00	-12	0.00
Repurchase of Common Equity	-23	-18	-1.34
Payment of Dividends	-8.01	-8.75	-9.15
Other Financing Activities, Net	-1.17	-0.73	-0.76
Cash Interest Paid	22	70	93
Cash Income Taxes Paid	14	19	13

This table details how cash moves in and out of South Plains Financial'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	-46	-95	93	-32	57	-22	42	-74	173	-112
Net Cash From Operating Activities	29	4.65	25	0.35	26	6.56	19	18	18	4.17
Net Cash From Continuing Operating Activities	29	4.65	25	0.35	26	6.56	19	18	18	4.17
Net Income / (Loss) Continuing Operations	15	13	9.24	30	13	10	11	11	11	16
Consolidated Net Income / (Loss)	15	13	9.24	30	13	10	11	11	11	16
Provision For Loan Losses	-0.78	0.25	1.01	3.80	-0.70	0.65	0.83	1.78	0.50	1.31
Depreciation Expense	1.77	1.69	1.70	1.54	1.54	1.63	1.63	1.63	1.66	1.60
Amortization Expense	1.01	0.98	0.99	0.99	0.75	0.65	0.59	0.75	0.75	0.75
Non-Cash Adjustments to Reconcile Net Income	10	-2.78	12	-33	0.95	7.03	-1.33	-1.22	6.27	-9.99
Changes in Operating Assets and Liabilities, net	1.87	-8.12	0.61	-2.94	10	-14	6.57	4.10	-2.51	-5.99
Net Cash From Investing Activities	-98	-39	-31	-94	-3.95	-14	12	-75	64	-15
Net Cash From Continuing Investing Activities	-98	-39	-31	-94	-3.95	-14	12	-75	64	-15
Purchase of Property, Leasehold Improvements and Equipment	-1.30	-1.18	-1.56	-1.89	-1.23	0.00	-0.47	-1.08	-0.77	-1.03
Purchase of Investment Securities	-109	-59	-42	-191	-15	-222	-299	-84	55	-24
Sale of Property, Leasehold Improvements and Equipment	0.01	0.24	0.64	0.25	0.04	0.03	0.00	0.07	-	0.31
Sale and/or Maturity of Investments	13	21	11	63	12	209	312	9.15	9.16	10
Net Cash From Financing Activities	23	-61	99	62	35	-15	10	-17	92	-102
Net Cash From Continuing Financing Activities	23	-61	99	62	35	-15	10	-17	92	-102
Net Change in Deposits	35	-54	102	66	46	5.54	12	-14	95	-98
Payment of Dividends	-2.08	-2.04	-2.21	-2.21	-2.19	-2.14	-2.13	-2.29	-2.29	-2.45
Other Financing Activities, Net	-0.09	-0.88	-0.34	0.00	-0.05	-0.34	-0.13	-	-	-0.63
Cash Interest Paid	6.33	8.82	13	15	21	21	24	21	26	21
Cash Income Taxes Paid	5.71	5.35	0.00	1.08	15	3.16	0.00	3.63	4.70	4.21

This table presents South Plains Financial'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	3,944	4,205	4,232
Cash and Due from Banks	62	63	54
Interest Bearing Deposits at Other Banks	173	267	305
Trading Account Securities	732	637	598
Loans and Leases, Net of Allowance	-39	-42	-43
Allowance for Loan and Lease Losses	39	42	43
Premises and Equipment, Net	56	55	53
Goodwill	20	19	19
Intangible Assets	4.35	2.43	1.72
Other Assets	2,936	3,203	3,245
Total Liabilities & Shareholders' Equity	3,944	4,205	4,232
Total Liabilities	3,587	3,798	3,793
Non-Interest Bearing Deposits	1,150	974	936
Interest Bearing Deposits	2,256	2,652	2,685
Long-Term Debt	122	110	110
Other Long-Term Liabilities	58	61	62
Total Equity & Noncontrolling Interests	357	407	439
Total Preferred & Common Equity	357	407	439
Total Common Equity	357	407	439
Common Stock	130	114	114
Retained Earnings	292	345	386
Accumulated Other Comprehensive Income / (Loss)	-65	-52	-61

This table presents South Plains Financial'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	3,993	4,058	4,150	4,186	4,219	4,221	4,338
Cash and Due from Banks	53	379	64	45	41	46	61
Interest Bearing Deposits at Other Banks	277	277	231	308	331	252	410
Trading Account Securities	738	719	650	605	616	608	618
Loans and Leases, Net of Allowance	-40	-40	-43	-42	-42	-43	-43
Allowance for Loan and Lease Losses	40	40	43	42	42	43	43
Premises and Equipment, Net	57	56	56	56	54	54	53
Goodwill	20	20	19	19	19	19	19
Intangible Assets	4.72	3.99	2.83	2.62	2.25	2.06	1.88
Other Assets	2,883	2,971	3,169	3,193	3,198	3,283	3,217
Total Liabilities & Shareholders' Equity	3,993	4,058	4,150	4,186	4,219	4,221	4,338
Total Liabilities	3,651	3,690	3,758	3,815	3,810	3,803	3,895
Non-Interest Bearing Deposits	1,262	1,111	1,101	1,046	974	952	998
Interest Bearing Deposits	2,198	2,397	2,474	2,574	2,664	2,673	2,721
Long-Term Debt	122	122	122	122	110	110	110
Other Long-Term Liabilities	68	60	61	72	61	68	65
Total Equity & Noncontrolling Interests	342	368	392	372	409	418	443
Total Preferred & Common Equity	342	368	392	372	409	418	443
Total Common Equity	342	368	392	372	409	418	443
Common Stock	134	130	128	119	114	114	114
Retained Earnings	282	298	326	337	354	363	372
Accumulated Other Comprehensive Income / (Loss)	-74	-60	-62	-85	-59	-59	-42

This table displays calculated financial ratios and metrics derived from South Plains Financial's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	-2.10%	2.03%	-10.87%
EBITDA Growth	0.14%	5.97%	-18.57%
EBIT Growth	0.04%	8.57%	-20.30%
NOPAT Growth	-0.64%	7.74%	-20.76%
Net Income Growth	-0.64%	7.74%	-20.76%
EPS Growth	1.89%	12.07%	-19.34%
Operating Cash Flow Growth	28.38%	-52.63%	1.44%
Free Cash Flow Firm Growth	-11.53%	-77.11%	-28.73%
Invested Capital Growth	-9.48%	7.91%	6.19%
Revenue Q/Q Growth	-2.45%	-2.10%	4.03%
EBITDA Q/Q Growth	-2.60%	-3.59%	11.81%
EBIT Q/Q Growth	-2.92%	-3.56%	13.66%
NOPAT Q/Q Growth	-3.31%	-3.53%	14.18%
Net Income Q/Q Growth	-3.31%	-3.53%	14.18%
EPS Q/Q Growth	-2.42%	-2.95%	14.06%
Operating Cash Flow Q/Q Growth	-10.13%	3.38%	-3.87%
Free Cash Flow Firm Q/Q Growth	-6.91%	-28.93%	212.89%
Invested Capital Q/Q Growth	3.29%	4.67%	-0.75%
Profitability Metrics	-	-	-
EBITDA Margin	39.23%	40.74%	37.22%
EBIT Margin	34.08%	36.27%	32.43%
Profit (Net Income) Margin	27.14%	28.65%	25.47%
Tax Burden Percent	79.62%	79.01%	78.55%
Interest Burden Percent	100.00%	100.00%	100.00%
Effective Tax Rate	20.38%	20.99%	21.45%
Return on Invested Capital (ROIC)	11.54%	12.59%	9.32%
ROIC Less NNEP Spread (ROIC-NNEP)	11.54%	12.59%	9.32%
Return on Net Nonoperating Assets (RNNOA)	3.69%	3.83%	2.43%
Return on Equity (ROE)	15.24%	16.42%	11.75%
Cash Return on Invested Capital (CROIC)	21.50%	4.98%	3.32%
Operating Return on Assets (OROA)	1.86%	1.95%	1.50%
Return on Assets (ROA)	1.48%	1.54%	1.18%
Return on Common Equity (ROCE)	15.24%	16.42%	11.75%
Return on Equity Simple (ROE_SIMPLE)	16.31%	15.41%	11.33%
Net Operating Profit after Tax (NOPAT)	58	63	50
NOPAT Margin	27.14%	28.65%	25.47%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	51.12%	46.74%	50.47%
Operating Expenses to Revenue	67.14%	61.63%	65.37%
Earnings before Interest and Taxes (EBIT)	73	79	63
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	84	89	73
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.25	1.15	1.29
Price to Tangible Book Value (P/TBV)	1.34	1.21	1.36
Price to Revenue (P/Rev)	2.09	2.13	2.91
Price to Earnings (P/E)	7.69	7.44	11.41
Dividend Yield	1.75%	1.84%	1.62%
Earnings Yield	13.00%	13.45%	8.77%
Enterprise Value to Invested Capital (EV/IC)	0.70	0.48	0.58
Enterprise Value to Revenue (EV/Rev)	1.56	1.13	1.63
Enterprise Value to EBITDA (EV/EBITDA)	3.98	2.76	4.38
Enterprise Value to EBIT (EV/EBIT)	4.59	3.10	5.03
Enterprise Value to NOPAT (EV/NOPAT)	5.76	3.93	6.40
Enterprise Value to Operating Cash Flow (EV/OCF)	2.71	4.21	5.36
Enterprise Value to Free Cash Flow (EV/FCFF)	3.09	9.93	17.99
Leverage & Solvency	-	-	-
Debt to Equity	0.34	0.27	0.25
Long-Term Debt to Equity	0.34	0.27	0.25
Financial Leverage	0.32	0.30	0.26
Leverage Ratio	10.26	10.66	9.97
Compound Leverage Factor	10.26	10.66	9.97
Debt to Total Capital	25.52%	21.30%	20.09%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	25.52%	21.30%	20.09%
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	74.48%	78.70%	79.91%
Debt to EBITDA	1.45	1.23	1.52
Net Debt to EBITDA	-1.34	-2.47	-3.42
Long-Term Debt to EBITDA	1.45	1.23	1.52
Debt to NOPAT	2.10	1.76	2.22
Net Debt to NOPAT	-1.93	-3.51	-5.00
Long-Term Debt to NOPAT	2.10	1.76	2.22
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	108	25	18
Operating Cash Flow to CapEx	3,098.27%	1,576.60%	1,996.67%
Free Cash Flow to Firm to Interest Expense	4.78	0.34	0.19
Operating Cash Flow to Interest Expense	5.45	0.81	0.63
Operating Cash Flow Less CapEx to Interest Expense	5.27	0.76	0.60
Efficiency Ratios	-	-	-
Asset Turnover	0.05	0.05	0.05
Fixed Asset Turnover	3.76	3.93	3.61
Capital & Investment Metrics	-	-	-
Invested Capital	479	517	549
Invested Capital Turnover	0.43	0.44	0.37
Increase / (Decrease) in Invested Capital	-50	38	32
Enterprise Value (EV)	335	247	318
Market Capitalization	448	467	567
Book Value per Share	$21.00	$24.70	$26.78
Tangible Book Value per Share	$19.60	$23.38	$25.50
Total Capital	479	517	549
Total Debt	122	110	110
Total Long-Term Debt	122	110	110
Net Debt	-113	-220	-249
Capital Expenditures (CapEx)	3.99	3.71	2.97
Net Nonoperating Expense (NNE)	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	122	110	110
Total Depreciation and Amortization (D&A)	11	9.79	9.35
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$3.35	$3.73	$3.03
Adjusted Weighted Average Basic Shares Outstanding	17.05M	16.43M	16.49M
Adjusted Diluted Earnings per Share	$3.23	$3.62	$2.92
Adjusted Weighted Average Diluted Shares Outstanding	17.05M	16.43M	16.49M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	17.05M	16.43M	16.49M
Normalized Net Operating Profit after Tax (NOPAT)	58	63	50
Normalized NOPAT Margin	27.14%	28.65%	25.47%
Pre Tax Income Margin	34.08%	36.27%	32.43%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	3.22	1.10	0.67
NOPAT to Interest Expense	2.57	0.87	0.53
EBIT Less CapEx to Interest Expense	3.05	1.05	0.64
NOPAT Less CapEx to Interest Expense	2.39	0.82	0.50
Payout Ratios	-	-	-
Dividend Payout Ratio	13.76%	13.94%	18.41%
Augmented Payout Ratio	52.73%	42.25%	21.11%

This table displays calculated financial ratios and metrics derived from South Plains Financial'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	-1.63%	-9.89%	-16.10%	46.04%	-14.41%	-9.57%	3.94%	-40.51%	-0.08%	17.06%
EBITDA Growth	2.60%	-10.71%	-30.37%	76.31%	-12.29%	-17.76%	13.35%	-58.44%	-14.18%	49.88%
EBIT Growth	2.72%	-12.07%	-34.65%	88.56%	-11.55%	-18.27%	20.47%	-61.99%	-16.71%	58.03%
NOPAT Growth	1.76%	-13.64%	-35.26%	86.89%	-12.71%	-18.20%	17.63%	-62.49%	-16.91%	59.79%
Net Income Growth	1.76%	-13.64%	-35.26%	86.89%	-12.71%	-18.20%	17.63%	-62.49%	-16.91%	59.79%
EPS Growth	4.88%	-10.13%	-32.05%	94.32%	-9.30%	-15.49%	20.75%	-61.40%	-15.38%	60.00%
Operating Cash Flow Growth	247.24%	-74.99%	-64.07%	-98.14%	-11.00%	41.23%	-24.49%	5,093.43%	-31.93%	-36.40%
Free Cash Flow Firm Growth	37.81%	-20.04%	-36.31%	-96.49%	-123.15%	-143.90%	-162.81%	-255.98%	-189.05%	43.73%
Invested Capital Growth	-10.82%	-9.48%	-3.71%	5.75%	6.49%	7.91%	5.82%	2.68%	11.98%	6.19%
Revenue Q/Q Growth	0.18%	-12.56%	-8.15%	81.52%	-41.29%	-7.63%	5.57%	3.89%	-1.37%	8.22%
EBITDA Q/Q Growth	-2.20%	-15.71%	-23.45%	179.43%	-51.35%	-20.97%	5.50%	2.45%	0.46%	38.02%
EBIT Q/Q Growth	-2.33%	-17.39%	-27.47%	222.25%	-54.19%	-23.67%	6.91%	1.66%	0.39%	44.83%
NOPAT Q/Q Growth	-2.68%	-18.35%	-26.76%	221.11%	-54.54%	-23.49%	5.33%	2.39%	0.70%	47.14%
Net Income Q/Q Growth	-2.68%	-18.35%	-26.76%	221.11%	-54.54%	-23.49%	5.33%	2.39%	0.70%	47.14%
EPS Q/Q Growth	-2.27%	-17.44%	-25.35%	222.64%	-54.39%	-23.08%	6.67%	3.13%	0.00%	45.45%
Operating Cash Flow Q/Q Growth	56.65%	-84.25%	446.29%	-98.62%	7,401.14%	-75.01%	192.07%	-5.13%	-1.68%	-76.66%
Free Cash Flow Firm Q/Q Growth	48.92%	-12.41%	-55.19%	-94.00%	-1,082.78%	-66.11%	35.89%	85.10%	-1,721.24%	67.66%
Invested Capital Q/Q Growth	-4.60%	3.29%	2.29%	4.92%	-3.94%	4.67%	0.32%	1.80%	4.77%	-0.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	39.62%	38.19%	31.83%	48.99%	40.60%	34.73%	34.71%	34.23%	34.87%	44.47%
EBIT Margin	34.65%	32.74%	25.85%	45.90%	35.81%	29.59%	29.97%	29.32%	29.85%	39.95%
Profit (Net Income) Margin	27.58%	25.76%	20.54%	36.33%	28.13%	23.30%	23.25%	22.91%	23.39%	31.81%
Tax Burden Percent	79.60%	78.67%	79.45%	79.17%	78.56%	78.74%	77.58%	78.13%	78.37%	79.62%
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	20.40%	21.33%	20.55%	20.83%	21.44%	21.26%	22.42%	21.87%	21.63%	20.38%
Return on Invested Capital (ROIC)	12.33%	10.96%	8.46%	16.82%	13.13%	10.24%	10.17%	8.25%	8.38%	11.64%
ROIC Less NNEP Spread (ROIC-NNEP)	12.33%	10.96%	8.46%	16.82%	13.13%	10.24%	10.17%	8.25%	8.38%	11.64%
Return on Net Nonoperating Assets (RNNOA)	4.07%	3.51%	2.74%	5.44%	4.51%	3.12%	3.05%	2.37%	2.39%	3.03%
Return on Equity (ROE)	16.40%	14.46%	11.21%	22.27%	17.64%	13.35%	13.21%	10.62%	10.77%	14.67%
Cash Return on Invested Capital (CROIC)	23.67%	21.50%	14.43%	7.80%	7.29%	4.98%	7.10%	6.15%	-2.99%	3.32%
Operating Return on Assets (OROA)	1.96%	1.79%	1.32%	2.62%	1.96%	1.59%	1.60%	1.31%	1.31%	1.85%
Return on Assets (ROA)	1.56%	1.41%	1.05%	2.07%	1.54%	1.25%	1.24%	1.03%	1.03%	1.47%
Return on Common Equity (ROCE)	16.40%	14.46%	11.21%	22.27%	17.64%	13.35%	13.21%	10.62%	10.77%	14.67%
Return on Equity Simple (ROE_SIMPLE)	17.62%	0.00%	14.46%	17.09%	17.50%	0.00%	15.75%	10.96%	9.83%	0.00%
Net Operating Profit after Tax (NOPAT)	15	13	9.24	30	13	10	11	11	11	16
NOPAT Margin	27.58%	25.76%	20.54%	36.33%	28.13%	23.30%	23.25%	22.91%	23.39%	31.81%
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	51.54%	50.80%	55.29%	36.00%	51.06%	53.16%	52.70%	51.80%	52.43%	45.42%
Operating Expenses to Revenue	66.74%	66.75%	71.90%	49.57%	65.65%	69.06%	68.26%	67.02%	69.12%	57.74%
Earnings before Interest and Taxes (EBIT)	19	16	12	37	17	13	14	14	14	21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	22	19	14	40	19	15	16	17	17	23
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.35	1.25	0.96	0.96	1.18	1.15	1.07	1.06	1.25	1.29
Price to Tangible Book Value (P/TBV)	1.45	1.34	1.03	1.01	1.25	1.21	1.13	1.11	1.31	1.36
Price to Revenue (P/Rev)	2.09	2.09	1.72	1.62	1.95	2.13	1.97	2.35	2.95	2.91
Price to Earnings (P/E)	7.64	7.69	6.66	5.60	6.72	7.44	6.77	9.63	12.71	11.41
Dividend Yield	1.62%	1.75%	2.31%	2.28%	1.97%	1.84%	1.96%	1.97%	1.60%	1.62%
Earnings Yield	13.08%	13.00%	15.03%	17.87%	14.89%	13.45%	14.78%	10.38%	7.87%	8.77%
Enterprise Value to Invested Capital (EV/IC)	0.54	0.70	0.00	0.39	0.42	0.48	0.34	0.48	0.35	0.58
Enterprise Value to Revenue (EV/Rev)	1.15	1.56	0.00	0.87	0.92	1.13	0.79	1.35	1.03	1.63
Enterprise Value to EBITDA (EV/EBITDA)	2.92	3.98	0.00	2.12	2.24	2.76	1.91	3.75	2.96	4.38
Enterprise Value to EBIT (EV/EBIT)	3.35	4.59	0.00	2.39	2.51	3.10	2.13	4.33	3.46	5.03
Enterprise Value to NOPAT (EV/NOPAT)	4.20	5.76	0.00	3.01	3.18	3.93	2.70	5.54	4.42	6.40
Enterprise Value to Operating Cash Flow (EV/OCF)	1.84	2.71	0.00	3.37	3.65	4.21	3.32	3.62	3.12	5.36
Enterprise Value to Free Cash Flow (EV/FCFF)	2.17	3.09	0.00	5.17	5.92	9.93	4.85	7.91	0.00	17.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.34	0.33	0.31	0.33	0.27	0.27	0.26	0.25	0.25
Long-Term Debt to Equity	0.36	0.34	0.33	0.31	0.33	0.27	0.27	0.26	0.25	0.25
Financial Leverage	0.33	0.32	0.32	0.32	0.34	0.30	0.30	0.29	0.29	0.26
Leverage Ratio	10.49	10.26	10.67	10.74	11.46	10.66	10.66	10.33	10.46	9.97
Compound Leverage Factor	10.49	10.26	10.67	10.74	11.46	10.66	10.66	10.33	10.46	9.97
Debt to Total Capital	26.35%	25.52%	24.96%	23.80%	24.79%	21.30%	21.24%	20.87%	19.93%	20.09%
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	26.35%	25.52%	24.96%	23.80%	24.79%	21.30%	21.24%	20.87%	19.93%	20.09%
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	73.65%	74.48%	75.04%	76.20%	75.21%	78.70%	78.76%	79.13%	80.07%	79.91%
Debt to EBITDA	1.42	1.45	1.57	1.29	1.32	1.23	1.21	1.63	1.70	1.52
Net Debt to EBITDA	-2.40	-1.34	-6.85	-1.82	-2.48	-2.47	-2.87	-2.77	-5.55	-3.42
Long-Term Debt to EBITDA	1.42	1.45	1.57	1.29	1.32	1.23	1.21	1.63	1.70	1.52
Debt to NOPAT	2.03	2.10	2.30	1.83	1.88	1.76	1.71	2.41	2.53	2.22
Net Debt to NOPAT	-3.45	-1.93	-10.03	-2.58	-3.54	-3.51	-4.07	-4.10	-8.29	-5.00
Long-Term Debt to NOPAT	2.03	2.10	2.30	1.83	1.88	1.76	1.71	2.41	2.53	2.22
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)	72	63	28	1.69	-17	-28	-18	-2.64	-48	-16
Operating Cash Flow to CapEx	2,286.67%	494.15%	2,764.16%	21.37%	2,211.79%	0.00%	4,042.19%	1,801.49%	2,312.03%	581.06%
Free Cash Flow to Firm to Interest Expense	11.95	6.34	2.14	0.10	-0.80	-1.25	-0.76	-0.11	-1.97	-0.68
Operating Cash Flow to Interest Expense	4.91	0.47	1.93	0.02	1.26	0.30	0.82	0.78	0.73	0.18
Operating Cash Flow Less CapEx to Interest Expense	4.70	0.37	1.86	-0.08	1.20	0.30	0.80	0.74	0.70	0.15
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.06	0.05	0.05	0.06	0.05	0.05	0.05	0.04	0.04	0.05
Fixed Asset Turnover	3.81	3.76	3.63	4.10	3.96	3.93	4.00	3.40	3.42	3.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	464	479	490	514	494	517	519	528	553	549
Invested Capital Turnover	0.45	0.43	0.41	0.46	0.47	0.44	0.44	0.36	0.36	0.37
Increase / (Decrease) in Invested Capital	-56	-50	-19	28	30	38	29	14	59	32
Enterprise Value (EV)	253	335	-180	202	207	247	174	254	192	318
Market Capitalization	460	448	354	375	437	467	436	441	553	567
Book Value per Share	$19.68	$21.00	$21.58	$22.97	$21.98	$24.70	$24.87	$25.46	$27.04	$26.78
Tangible Book Value per Share	$18.29	$19.60	$20.21	$21.68	$20.68	$23.38	$23.56	$24.15	$25.75	$25.50
Total Capital	464	479	490	514	494	517	519	528	553	549
Total Debt	122	122	122	122	122	110	110	110	110	110
Total Long-Term Debt	122	122	122	122	122	110	110	110	110	110
Net Debt	-208	-113	-534	-173	-230	-220	-262	-188	-361	-249
Capital Expenditures (CapEx)	1.29	0.94	0.92	1.64	1.19	-0.03	0.47	1.01	0.77	0.72
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)	122	122	122	122	122	110	110	110	110	110
Total Depreciation and Amortization (D&A)	2.78	2.67	2.69	2.53	2.30	2.28	2.22	2.38	2.41	2.35
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.89	$0.74	$0.54	$1.74	$0.80	$0.65	$0.66	$0.68	$0.68	$1.01
Adjusted Weighted Average Basic Shares Outstanding	17.00M	17.05M	17.06M	16.91M	16.48M	16.43M	16.42M	16.39M	16.39M	16.49M
Adjusted Diluted Earnings per Share	$0.86	$0.71	$0.53	$1.71	$0.78	$0.60	$0.64	$0.66	$0.66	$0.96
Adjusted Weighted Average Diluted Shares Outstanding	17.00M	17.05M	17.06M	16.91M	16.48M	16.43M	16.42M	16.39M	16.39M	16.49M
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	17.00M	17.05M	17.06M	16.91M	16.48M	16.43M	16.42M	16.39M	16.39M	16.49M
Normalized Net Operating Profit after Tax (NOPAT)	15	13	9.24	30	13	10	11	11	11	16
Normalized NOPAT Margin	27.58%	25.76%	20.54%	36.33%	28.13%	23.30%	23.25%	22.91%	23.39%	31.81%
Pre Tax Income Margin	34.65%	32.74%	25.85%	45.90%	35.81%	29.59%	29.97%	29.32%	29.85%	39.95%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.23	1.62	0.89	2.31	0.82	0.59	0.60	0.61	0.59	0.91
NOPAT to Interest Expense	2.57	1.27	0.70	1.83	0.65	0.47	0.47	0.48	0.46	0.72
EBIT Less CapEx to Interest Expense	3.02	1.52	0.82	2.21	0.77	0.60	0.58	0.57	0.56	0.88
NOPAT Less CapEx to Interest Expense	2.36	1.18	0.63	1.73	0.59	0.47	0.45	0.43	0.43	0.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.57%	13.76%	15.54%	12.75%	13.30%	13.94%	13.46%	19.08%	20.30%	18.41%
Augmented Payout Ratio	49.22%	52.73%	52.54%	36.68%	37.33%	42.25%	41.11%	53.02%	36.93%	21.11%

Frequently Asked Questions About South Plains Financial's Financials

When does South Plains Financial's financial year end?

According to the most recent income statement we have on file, South Plains Financial's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has South Plains Financial's net income changed over the last 2 years?

South Plains Financial's net income appears to be on a downward trend, with a most recent value of $49.72 million in 2024, falling from $58.24 million in 2022. The previous period was $62.75 million in 2023. See where experts think South Plains Financial is headed by visiting South Plains Financial's forecast page.

How has South Plains Financial revenue changed over the last 2 years?

Over the last 2 years, South Plains Financial's total revenue changed from $214.62 million in 2022 to $195.17 million in 2024, a change of -9.1%.

How much debt does South Plains Financial have?

South Plains Financial's total liabilities were at $3.79 billion at the end of 2024, a 0.1% decrease from 2023, and a 5.7% increase since 2022.

How much cash does South Plains Financial have?

In the past 2 years, South Plains Financial's cash and equivalents has ranged from $54.11 million in 2024 to $62.82 million in 2023, and is currently $54.11 million as of their latest financial filing in 2024.

How has South Plains Financial's book value per share changed over the last 2 years?

Over the last 2 years, South Plains Financial's book value per share changed from 21.00 in 2022 to 26.78 in 2024, a change of 27.5%.

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This page (NASDAQ:SPFI) was last updated on 5/4/2025 by MarketBeat.com Staff

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South Plains Financial (SPFI) Financials

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