South Plains Financial (SPFI) Financials

$34.80 -0.44 (-1.25%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$34.79 -0.01 (-0.03%)

As of 05/23/2025 04:04 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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	50	63	58
Consolidated Net Income / (Loss)	50	63	58
Net Income / (Loss) Continuing Operations	50	63	58
Total Pre-Tax Income	63	79	73
Total Revenue	195	219	215
Net Interest Income / (Expense)	147	140	138
Total Interest Income	241	212	161
Loans and Leases Interest Income	202	177	138
Investment Securities Interest Income	24	25	20
Federal Funds Sold and Securities Borrowed Interest Income	14	9.97	3.68
Total Interest Expense	94	72	23
Deposits Interest Expense	87	65	17
Long-Term Debt Interest Expense	6.72	7.30	5.69
Total Non-Interest Income	48	79	76
Service Charges on Deposit Accounts	8.03	7.13	6.83
Other Service Charges	25	23	44
Net Realized & Unrealized Capital Gains on Investments	11	45	21
Investment Banking Income	1.70	1.70	1.83
Other Non-Interest Income	2.72	2.43	2.39
Provision for Credit Losses	4.30	4.61	-2.62
Total Non-Interest Expense	128	135	144
Salaries and Employee Benefits	74	79	86
Net Occupancy & Equipment Expense	20	20	20
Marketing Expense	3.78	3.45	3.61
Other Operating Expenses	29	33	34
Income Tax Expense	14	17	15
Basic Earnings per Share	$3.03	$3.73	$3.35
Weighted Average Basic Shares Outstanding	16.49M	16.43M	17.05M
Diluted Earnings per Share	$2.92	$3.62	$3.23
Weighted Average Diluted Shares Outstanding	16.49M	16.43M	17.05M
Weighted Average Basic & Diluted Shares Outstanding	16.49M	16.43M	17.05M
Cash Dividends to Common per Share	$0.56	$0.52	$0.46

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

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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	29	95	-252
Net Cash From Operating Activities	59	59	124
Net Cash From Continuing Operating Activities	59	59	124
Net Income / (Loss) Continuing Operations	50	63	58
Consolidated Net Income / (Loss)	50	63	58
Provision For Loan Losses	4.41	4.75	-2.62
Depreciation Expense	6.51	6.41	6.97
Amortization Expense	2.84	3.38	4.07
Non-Cash Adjustments to Reconcile Net Income	-6.26	-13	41
Changes in Operating Assets and Liabilities, net	2.17	-5.84	16
Net Cash From Investing Activities	-14	-143	-409
Net Cash From Continuing Investing Activities	-14	-143	-409
Purchase of Property, Leasehold Improvements and Equipment	-3.35	-4.68	-4.47
Purchase of Investment Securities	-351	-470	-488
Sale of Property, Leasehold Improvements and Equipment	0.38	0.97	0.48
Divestitures	0.00	36	0.00
Sale and/or Maturity of Investments	340	294	83
Net Cash From Financing Activities	-17	180	33
Net Cash From Continuing Financing Activities	-17	180	33
Net Change in Deposits	-5.28	220	65
Repayment of Debt	0.00	-12	0.00
Repurchase of Common Equity	-1.34	-18	-23
Payment of Dividends	-9.15	-8.75	-8.01
Other Financing Activities, Net	-0.76	-0.73	-1.17
Cash Interest Paid	93	70	22
Cash Income Taxes Paid	13	19	14

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

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	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	4,232	4,205	3,944
Cash and Due from Banks	54	63	62
Interest Bearing Deposits at Other Banks	305	267	173
Trading Account Securities	598	637	732
Loans and Leases, Net of Allowance	-43	-42	-39
Allowance for Loan and Lease Losses	43	42	39
Premises and Equipment, Net	53	55	56
Goodwill	19	19	20
Intangible Assets	1.72	2.43	4.35
Other Assets	3,245	3,203	2,936
Total Liabilities & Shareholders' Equity	4,232	4,205	3,944
Total Liabilities	3,793	3,798	3,587
Non-Interest Bearing Deposits	936	974	1,150
Interest Bearing Deposits	2,685	2,652	2,256
Long-Term Debt	110	110	122
Other Long-Term Liabilities	62	61	58
Total Equity & Noncontrolling Interests	439	407	357
Total Preferred & Common Equity	439	407	357
Total Common Equity	439	407	357
Common Stock	114	114	130
Retained Earnings	386	345	292
Accumulated Other Comprehensive Income / (Loss)	-61	-52	-65

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

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

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

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

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. Find out what analysts predict for South Plains Financial in the coming months.

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 5/24/2025 by MarketBeat.com Staff

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South Plains Financial (SPFI) Financials

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