A Business at a Glance
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RENASANT CORP
RNST
$3.8B
Mkt Cap
$43.47
+1.07%
RENASANT CORP (RNST) has a current P/E ratio of 21.0, compared to its historical median P/E of 12.2. The stock is currently considered Expensive based on its historical valuation range.
RENASANT CORP (RNST) has a 5-year average return on invested capital (ROIC) of 6.0%. This is below average and may indicate limited pricing power.
RENASANT CORP (RNST) has a market capitalization of $4.0B. It is classified as a mid-cap stock.
Yes, RENASANT CORP (RNST) pays a dividend with a trailing twelve-month yield of 2.13%. The company also returns capital through share buybacks, with a buyback yield of 0.33%.
Based on historical P/E analysis, RENASANT CORP (RNST) appears expensive. The current P/E of 21.0 is 72% above its historical median of 12.2. The estimated fair value CAGR (P/E method) is 2.1%.
RENASANT CORP (RNST) operates in the State Commercial Banks industry, within the Financials sector.
RENASANT CORP (RNST) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
PART I ITEM 1. BUSINESS Renasant Corporation, a Mississippi corporation incorporated in 1982. It owns and operates Renasant Bank, a Mississippi banking corporation with operations throughout the Southeast, and also owns and operates Park Place Capital Corporation, a Tennessee corporation and registered investment advisor with operations across our footprint. Renasant Bank, in turn, owns and operates Continental Republic Capital, LLC (doing business as “Republic Business Credit”), a Louisiana limited liability company offering factoring and asset-based lending on a nationwide basis, while Park Place Capital Corporation, in turn, owns and operates Park Place Capital Securities Corporation, a Delaware corporation and registered broker-dealer. Renasant Bank also owns Renasant Insurance, Inc., a Mississippi corporation, which was engaged in the insurance agency business until Renasant Bank’s sale of substantially all of the assets of Renasant Insurance, Inc. on July 1, 2024.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.1B | 1.4B | 1.1B | 910M | 691M | 696M |
| Net Income | 228M | 181M | 195M | 145M | 166M | 176M |
| EPS | $2.42 | $2.07 | $3.27 | $2.56 | $2.95 | $3.12 |
| Free Cash Flow | 230M | 238M | 93M | 127M | 559M | 122M |
| ROIC | 5.2% | 4.8% | 6.7% | 5.5% | 6.3% | 6.7% |
| Gross Margin | - | 60.8% | 64.7% | 67.8% | 87.8% | 93.3% |
| Debt/Equity | 0.21 | 0.27 | 0.20 | 0.32 | 0.53 | 0.22 |
| Dividends/Share | $0.93 | $0.89 | $0.88 | $0.88 | $0.88 | $0.88 |
| Operating Income | 32M | 27M | 15M | 21M | 14M | 21M |
| Operating Margin | 3.0% | 1.9% | 1.4% | 2.3% | 2.0% | 3.0% |
| ROE | 5.9% | 5.5% | 7.9% | 6.5% | 7.6% | 8.1% |
| Shares Outstanding | 93M | 88M | 60M | 57M | 56M | 56M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 307M | 371M | 467M | 507M | 606M | 696M | 734M | 696M | 691M | 910M | 1.1B | 1.4B | 1.1B |
| Gross Margin | 90.2% | 92.9% | 92.4% | 91.0% | 88.1% | 84.8% | 78.4% | 93.3% | 87.8% | 67.8% | 64.7% | 60.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 115M | 145M | 172M | 185M | 214M | 251M | 302M | 281M | 262M | 282M | 284M | 369M | 388M |
| EBIT | 4.8M | 5.5M | 11M | 8.8M | 8.5M | 10M | 9.5M | 21M | 14M | 21M | 15M | 27M | 32M |
| Op. Margin | 1.6% | 1.5% | 2.4% | 1.7% | 1.4% | 1.5% | 1.3% | 3.0% | 2.0% | 2.3% | 1.4% | 1.9% | 3.0% |
| Net Income | 60M | 68M | 91M | 92M | 147M | 168M | 84M | 176M | 166M | 145M | 195M | 181M | 228M |
| Net Margin | 19.4% | 18.3% | 19.5% | 18.2% | 24.3% | 24.1% | 11.4% | 25.3% | 24.0% | 15.9% | 17.9% | 12.6% | 20.9% |
| Non-Recurring | 72K | -105K | -115K | -565K | 198K | 881K | 7.3M | 1.2M | 732K | 0 | 53M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 7.0% | 6.6% | 6.9% | 5.8% | 7.3% | 7.0% | 3.3% | 6.7% | 6.3% | 5.5% | 6.7% | 4.8% | 5.2% |
| ROE | 8.7% | 7.8% | 8.0% | 6.7% | 8.3% | 8.0% | 3.9% | 8.1% | 7.6% | 6.5% | 7.9% | 5.5% | 5.9% |
| ROA | 1.0% | 1.0% | 1.1% | 1.0% | 1.3% | 1.3% | 0.6% | 1.1% | 1.0% | 0.8% | 1.1% | 0.8% | 0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 125M | 253M | 164M | 207M | 82M | 164M | 82M | 143M | 574M | 149M | 106M | 271M | 265M |
| Free Cash Flow | 103M | 227M | 150M | 194M | 60M | 129M | 54M | 122M | 559M | 127M | 93M | 238M | 230M |
| Owner Earnings | 113M | 239M | 158M | 197M | 71M | 145M | 37M | 85M | 520M | 100M | 60M | 238M | 238M |
| CapEx | 22M | 25M | 14M | 13M | 22M | 35M | 28M | 21M | 15M | 22M | 14M | 34M | 35M |
| Maint. CapEx | 8.1M | 9.2M | 3.1M | 4.8M | 3.5M | 8.2M | 35M | 47M | 43M | 35M | 32M | 16M | 8.1M |
| Growth CapEx | 14M | 16M | 10M | 8.2M | 19M | 27M | 0 | 0 | 0 | 0 | 0 | 18M | 27M |
| D&A | 8.1M | 9.2M | 3.1M | 4.8M | 3.5M | 8.2M | 35M | 47M | 43M | 35M | 32M | 16M | 8.1M |
| CapEx/OCF | 17.8% | 10.0% | 8.3% | 6.5% | 27.2% | 21.4% | 34.4% | 14.4% | 2.6% | 14.6% | 12.8% | 12.4% | 13.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 22M | 25M | 30M | 34M | 44M | 51M | 50M | 50M | 50M | 50M | 54M | 79M | 86M |
| Dividend Yield | 3.1% | 2.8% | 2.6% | 2.2% | 2.4% | 3.0% | 3.8% | 2.6% | 2.8% | 3.2% | 2.9% | 2.5% | 2.1% |
| Share Buybacks | 0 | 608K | 0 | 0 | 7.1M | 63M | 25M | 21M | 0 | 0 | 0 | 13M | 13M |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.5% | 3.6% | 1.5% | 1.1% | N/A | N/A | N/A | 0.4% | 0.3% |
| Stock-Based Comp | 3.9M | 4.4M | 3.1M | 5.3M | 7.3M | 10M | 11M | 10M | 12M | 14M | 14M | 18M | 19M |
| Debt Repayment | 14M | 309M | 47M | 170M | 849K | 35M | 171K | 203M | 32M | 2.7M | 245K | 60M | 60M |
| Balance Sheet | |||||||||||||
| Net Debt | 27M | 359M | 5.9M | -656M | -1.2B | -840M | -1.5B | -3.8B | -970M | -988M | -1.4B | -2.6B | -3.2B |
| Cash & Equiv. | 162M | 212M | 306M | 281M | 569M | 415M | 633M | 1.9B | 576M | 801M | 1.1B | 1.1B | 4.0B |
| Long-Term Debt | 156M | 148M | 202M | 208M | 264M | 377M | 475M | 471M | 428M | 429M | 431M | 500M | 500M |
| Debt/Equity | 0.27 | 0.55 | 0.25 | 0.20 | 0.32 | 0.41 | 0.23 | 0.22 | 0.53 | 0.32 | 0.20 | 0.27 | 0.21 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.7 |
| Equity | 712M | 1.0B | 1.2B | 1.5B | 2.0B | 2.1B | 2.1B | 2.2B | 2.1B | 2.3B | 2.7B | 3.9B | 3.9B |
| Total Assets | 5.8B | 7.9B | 8.7B | 9.8B | 12.9B | 13.4B | 14.9B | 16.8B | 17.0B | 17.4B | 18.0B | 26.8B | 27.1B |
| Total Liabilities | 5.1B | 6.9B | 7.5B | 8.3B | 10.9B | 11.3B | 12.8B | 14.6B | 14.9B | 15.1B | 15.4B | 22.9B | 23.2B |
| Intangibles | 23M | 29M | 24M | 25M | 45M | 37M | 30M | 24M | 24M | 19M | 14M | 147M | 138M |
| Retained Earnings | 233M | 276M | 338M | 397M | 501M | 617M | 616M | 742M | 858M | 952M | 1.1B | 1.2B | 1.3B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.88 | 1.88 | 2.17 | 1.96 | 2.79 | 2.88 | 1.48 | 3.12 | 2.95 | 2.56 | 3.27 | 2.07 | 2.42 |
| Owner EPS | 3.56 | 6.61 | 3.76 | 4.19 | 1.36 | 2.50 | 0.66 | 1.51 | 9.23 | 1.76 | 1.01 | 2.71 | 2.56 |
| Book Value | 22.45 | 28.66 | 29.42 | 32.21 | 38.81 | 36.53 | 37.73 | 39.20 | 37.94 | 40.65 | 44.81 | 44.36 | 41.63 |
| Cash Flow/Share | 3.93 | 6.98 | 3.91 | 4.40 | 1.56 | 2.81 | 1.46 | 2.53 | 10.20 | 2.63 | 1.78 | 3.10 | 2.54 |
| Dividends/Share | 0.68 | 0.68 | 0.71 | 0.73 | 0.80 | 0.87 | 0.88 | 0.88 | 0.88 | 0.88 | 0.88 | 0.89 | 0.93 |
| Shares Out. | 31.7M | 36.2M | 41.9M | 47.0M | 52.7M | 58.2M | 56.5M | 56.4M | 56.3M | 56.5M | 59.8M | 87.6M | 92.9M |
| Valuation | |||||||||||||
| P/E Ratio | 11.7 | 14.6 | 15.5 | 17.2 | 8.9 | 10.5 | 19.9 | 11.0 | 11.7 | 12.7 | 10.7 | 17.5 | 17.9 |
| P/FCF | 6.8 | 4.4 | 9.4 | 8.2 | 21.8 | 13.7 | 30.9 | 15.8 | 3.5 | 14.4 | 22.5 | 13.3 | 17.5 |
| EV/EBIT | 138.3 | 214.4 | 111.4 | 105.5 | 16.0 | 90.5 | 19.7 | N/A | 70.2 | 40.2 | 45.9 | 21.6 | 25.3 |
| Price/Book | 1.0 | 1.0 | 1.1 | 1.0 | 0.6 | 0.8 | 0.8 | 0.9 | 0.9 | 0.8 | 0.8 | 0.8 | 1.0 |
| Price/Sales | 2.4 | 2.5 | 2.6 | 3.3 | 3.4 | 2.9 | 2.0 | 3.0 | 2.8 | 2.5 | 2.6 | 3.1 | 3.7 |
| FCF Yield | 14.7% | 22.9% | 10.6% | 12.2% | 4.6% | 7.3% | 3.2% | 6.3% | 28.8% | 6.9% | 4.4% | 7.5% | 5.7% |
| Market Cap | 699M | 994M | 1.4B | 1.6B | 1.3B | 1.8B | 1.7B | 1.9B | 1.9B | 1.8B | 2.1B | 3.2B | 4.0B |
| Avg. Price | 21.63 | 24.32 | 26.89 | 33.19 | 34.73 | 29.29 | 23.22 | 34.39 | 31.23 | 27.75 | 31.13 | 35.20 | 43.47 |
| Year-End Price | 22.07 | 27.48 | 33.74 | 33.73 | 24.79 | 30.21 | 29.50 | 34.20 | 34.52 | 32.44 | 34.92 | 36.16 | 43.47 |
RENASANT CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
RENASANT CORP trades at 21.0x trailing earnings, compared to its 15-year median P/E of 12.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 17.2x vs a median of 14.1x. The company's 5-year average ROIC is 6.0% with a gross margin of 74.9%. Total shareholder yield (dividends + buybacks) is 2.5%. At current prices, the estimated annualized return to fair value is +9.0%.
RENASANT CORP (RNST) has a net profit margin of 12.6%. This is a healthy margin.
RENASANT CORP (RNST) generated $238 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
RENASANT CORP (RNST) has a debt-to-equity ratio of 0.27. This indicates a conservatively financed balance sheet.
RENASANT CORP (RNST) reported earnings per share (EPS) of $2.07 in its most recent fiscal year.
RENASANT CORP (RNST) has a return on equity (ROE) of 5.5%. This indicates moderate shareholder returns.
RENASANT CORP (RNST) has a 5-year average gross margin of 74.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for RENASANT CORP (RNST), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
RENASANT CORP (RNST) has a book value per share of $44.36, based on its most recent annual SEC filing.
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