A Business at a Glance
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SB FINANCIAL GROUP, INC.
SBFG
$163M
Mkt Cap
$25.62
-3.94%
SB FINANCIAL GROUP, INC. (SBFG) has a current P/E ratio of 14.9, compared to its historical median P/E of 9.0. The stock is currently considered Expensive based on its historical valuation range.
SB FINANCIAL GROUP, INC. (SBFG) has a 5-year average return on invested capital (ROIC) of 8.2%. This is below average and may indicate limited pricing power.
SB FINANCIAL GROUP, INC. (SBFG) has a market capitalization of $218M. It is classified as a small-cap stock.
Yes, SB FINANCIAL GROUP, INC. (SBFG) pays a dividend with a trailing twelve-month yield of 1.78%. The company also returns capital through share buybacks, with a buyback yield of 2.59%.
Based on historical P/E analysis, SB FINANCIAL GROUP, INC. (SBFG) appears expensive. The current P/E of 14.9 is 66% above its historical median of 9.0. The estimated fair value CAGR (P/E method) is 3.2%.
SB FINANCIAL GROUP, INC. (SBFG) operates in the State Commercial Banks industry, within the Financials sector.
SB FINANCIAL GROUP, INC. (SBFG) reported annual revenue of $66 million in its most recent fiscal year, based on SEC EDGAR filings.
Item 1. Business. Certain statements contained in this Annual Report on Form 10-K which are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. See “Cautionary Statement Regarding Forward-Looking Information” under Item 1A. Risk Factors on page 12 of this Annual Report on Form 10-K. SB Financial Group, Inc., an Ohio corporation (the “SB Financial”), is a financial holding company subject to regulation under the Bank Holding Company Act of 1956, as amended, and to inspection, examination and supervision by the Board of Governors of the Federal Reserve System (the “Federal Reserve Board” or the “FRB”). SB Financial was organized in 1983. The executive offices of SB Financial are located at 401 Clinton Street, Defiance, Ohio 43512.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 68M | 66M | 57M | 57M | 63M | 73M |
| Net Income | 16M | 14M | 11M | 12M | 12M | 18M |
| EPS | $2.03 | $2.19 | $1.72 | $1.75 | $1.77 | $52.98 |
| Free Cash Flow | 12M | 21M | 8.2M | 13M | 24M | 15M |
| ROIC | 10.4% | 9.3% | 7.9% | 8.6% | 8.3% | 6.9% |
| Gross Margin | - | 0.0% | - | - | - | 0.0% |
| Debt/Equity | 2.39 | 0.14 | 0.24 | 0.27 | 2.05 | 1.53 |
| Dividends/Share | $0.45 | $0.60 | $0.56 | $0.52 | $0.48 | $9.10 |
| Operating Income | 1.2M | 1.3M | 1.5M | 1.6M | 1.1M | 1.2M |
| Operating Margin | 1.7% | 1.9% | 2.7% | 2.7% | 1.7% | 1.7% |
| ROE | 11.2% | 10.4% | 9.1% | 9.9% | 9.5% | 12.7% |
| Shares Outstanding | 9M | 6M | 7M | 7M | 7M | 0M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 37M | 42M | 47M | 50M | 56M | 62M | 73M | 73M | 63M | 57M | 57M | 66M | 68M |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | N/A | N/A | 0.0% | 0.0% | N/A | N/A | N/A | 0.0% | 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 | 26M | 27M | 30M | 32M | 35M | 37M | 43M | 45M | 613K | 631K | 733K | 763K | 773K |
| EBIT | 856K | 878K | 1.2M | 1.2M | 1.6M | 1.6M | 1.5M | 1.2M | 1.1M | 1.6M | 1.5M | 1.3M | 1.2M |
| Op. Margin | 2.3% | 2.1% | 2.6% | 2.4% | 2.8% | 2.5% | 2.0% | 1.7% | 1.7% | 2.7% | 2.7% | 1.9% | 1.7% |
| Net Income | 5.3M | 6.7M | 7.8M | 10M | 11M | 11M | 15M | 18M | 12M | 12M | 11M | 14M | 16M |
| Net Margin | 14.1% | 16.0% | 16.6% | 20.3% | 19.0% | 17.7% | 20.5% | 25.2% | 19.9% | 21.2% | 20.1% | 21.3% | 23.8% |
| Non-Recurring | 0 | 18K | 177K | 6K | -35K | -5K | 2K | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 7.4% | 7.5% | 8.3% | 10.0% | 8.7% | 7.7% | 5.9% | 6.9% | 8.3% | 8.6% | 7.9% | 9.3% | 10.4% |
| ROE | 8.0% | 8.5% | 9.3% | 11.2% | 9.5% | 8.3% | 10.7% | 12.7% | 9.5% | 9.9% | 9.1% | 10.4% | 11.2% |
| ROA | 0.8% | 0.9% | 1.0% | 1.2% | 1.1% | 1.1% | 1.3% | 1.4% | 0.9% | 0.9% | 0.8% | 1.0% | 1.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 5.0M | 8.6M | 14M | 9.8M | 14M | 19M | 24M | 17M | 26M | 14M | 9.5M | 24M | 14M |
| Free Cash Flow | 3.1M | 1.4M | 12M | 6.1M | 12M | 17M | 22M | 15M | 24M | 13M | 8.2M | 21M | 12M |
| Owner Earnings | 4.0M | 7.4M | 12M | 7.9M | 12M | 17M | 22M | 15M | 23M | 11M | 6.7M | 21M | 12M |
| CapEx | 1.9M | 7.2M | 1.6M | 3.7M | 2.0M | 2.0M | 2.0M | 2.4M | 1.9M | 958K | 1.2M | 2.6M | 1.9M |
| Maint. CapEx | 901K | 1.1M | 1.5M | 1.6M | 1.7M | 1.9M | 1.9M | 2.3M | 2.2M | 2.2M | 2.2M | 2.2M | 2.2M |
| Growth CapEx | 994K | 6.1M | 127K | 2.1M | 306K | 164K | 43K | 165K | 0 | 0 | 0 | 404K | 0 |
| D&A | 901K | 1.1M | 1.5M | 1.6M | 1.7M | 1.9M | 1.9M | 2.3M | 2.2M | 2.2M | 2.2M | 2.2M | 2.2M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 14.4% | 10.9% | N/A | N/A | 7.4% | 6.8% | 13.0% | N/A | 13.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 983K | 1.2M | 1.4M | 2.1M | 2.3M | 3.1M | 3.1M | 3.4M | 3.6M | 3.8M | 3.8M | 3.9M |
| Dividend Yield | N/A | N/A | N/A | N/A | 2.0% | 2.3% | N/A | N/A | 3.0% | 4.0% | 3.6% | N/A | 1.8% |
| Share Buybacks | 0 | 2K | 1.2M | 1.8M | 109K | 5.0M | 7.2M | 9.5M | 5.9M | 3.5M | 4.8M | 5.7M | 5.7M |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 4.2% | 0.0% | 0.0% | 5.6% | 3.5% | 3.4% | 0.0% | 2.6% |
| Stock-Based Comp | 90K | 81K | 114K | 303K | 278K | 417K | 382K | 443K | 568K | 576K | 637K | 536K | 534K |
| Debt Repayment | 7.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 500K | 500K | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -40M | -39M | -25M | 60M | 70M | 186M | -51M | -191M | -24M | -210M | -197M | -240M | 33M |
| Cash & Equiv. | 28M | 20M | 17M | 27M | 48M | -21M | 141M | 150M | 28M | 23M | 26M | 72M | 310M |
| Long-Term Debt | 10M | 10M | 10M | 10M | 10M | 10M | 219M | 20M | 20M | 20M | 20M | 10M | 10M |
| Debt/Equity | 0.30 | 0.13 | 0.24 | 1.20 | 1.13 | 1.21 | 1.67 | 1.53 | 2.05 | 0.27 | 0.24 | 0.14 | 2.39 |
| Interest Coverage | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | 0.2 | 0.0 | 0.0 | 0.2 | 0.1 | 0.1 | 0.0 | 0.1 |
| Equity | 76M | 81M | 87M | 94M | 130M | 136M | 143M | 145M | 118M | 124M | 128M | 141M | 144M |
| Total Assets | 684M | 733M | 816M | 877M | 987M | 1.0B | 1.3B | 1.3B | 1.3B | 1.3B | 1.4B | 1.5B | 1.6B |
| Total Liabilities | 609M | 652M | 729M | 783M | 856M | 902M | 1.1B | 1.2B | 1.2B | 1.2B | 1.3B | 1.4B | 1.5B |
| Intangibles | 283K | 82K | 22K | 11K | 48K | 0 | 0 | 0 | 0 | N/A | N/A | 1.2M | 1.2M |
| Retained Earnings | 34M | 40M | 47M | 55M | 64M | 73M | 85M | 100M | 102M | 108M | 116M | 126M | 130M |
| Working Capital | 0 | 0 | 0 | 0 | N/A | N/A | 0 | 0 | N/A | N/A | N/A | 0 | 0 |
| Current Assets | 0 | 0 | 0 | 0 | N/A | N/A | 0 | 0 | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | 0 | 0 | 0 | 0 | N/A | N/A | 0 | 0 | N/A | N/A | N/A | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 1.07 | 1.19 | 1.38 | 1.74 | 1.51 | 1.51 | 1.96 | 52.98 | 1.77 | 1.75 | 1.72 | 2.19 | 2.03 |
| Owner EPS | 0.82 | 1.33 | 2.19 | 1.37 | 1.68 | 2.26 | 2.83 | 42.18 | 3.23 | 1.62 | 1.00 | 3.35 | 1.36 |
| Book Value | 15.39 | 14.51 | 15.29 | 16.21 | 18.47 | 18.64 | 18.75 | 420.08 | 16.78 | 18.03 | 19.18 | 22.18 | 16.85 |
| Cash Flow/Share | 1.02 | 1.54 | 2.48 | 1.69 | 1.96 | 2.58 | 3.14 | 50.02 | 3.62 | 2.03 | 1.42 | 3.77 | 2.15 |
| Dividends/Share | N/A | 0.18 | 0.21 | 0.23 | 0.30 | 0.32 | 0.40 | 9.10 | 0.48 | 0.52 | 0.56 | 0.60 | 0.45 |
| Shares Out. | 4.9M | 5.6M | 5.7M | 5.8M | 7.1M | 7.3M | 7.6M | 0.3M | 7.1M | 6.9M | 6.6M | 6.4M | 8.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 9.0 | 10.9 | N/A | N/A | 8.4 | 8.2 | 12.1 | N/A | 12.6 |
| P/FCF | N/A | N/A | N/A | N/A | 7.7 | 6.8 | N/A | N/A | 4.4 | 7.6 | 16.9 | N/A | 17.6 |
| EV/EBIT | N/A | N/A | N/A | N/A | 66.9 | 82.8 | N/A | N/A | 107.6 | 70.5 | 99.0 | N/A | 216.3 |
| Price/Book | N/A | N/A | N/A | N/A | 0.7 | 0.9 | N/A | N/A | 0.9 | 0.8 | 1.1 | N/A | 1.5 |
| Price/Sales | N/A | N/A | N/A | N/A | 2.2 | 2.0 | N/A | N/A | 2.0 | 1.6 | 1.8 | N/A | 3.2 |
| FCF Yield | N/A | N/A | N/A | N/A | 12.4% | 14.0% | N/A | N/A | 22.6% | 13.1% | 5.9% | N/A | 5.7% |
| Market Cap | 0 | 0 | 0 | 0 | 96M | 120M | 0 | 0 | 105M | 100M | 139M | 0 | 218M |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.00 | 14.72 | 13.77 | 0.00 | 0.00 | 15.99 | 13.13 | 15.60 | 0.00 | 25.62 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.00 | 12.88 | 15.62 | 0.00 | 0.00 | 14.79 | 14.41 | 20.89 | 0.00 | 25.62 |
SB FINANCIAL GROUP, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
SB FINANCIAL GROUP, INC. trades at 14.9x trailing earnings, compared to its 15-year median P/E of 9.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 20.8x vs a median of 7.6x. The company's 5-year average ROIC is 8.2%. Total shareholder yield (dividends + buybacks) is 4.4%. At current prices, the estimated annualized return to fair value is -5.9%.
SB FINANCIAL GROUP, INC. (SBFG) has a net profit margin of 21.3%. This is a strong margin indicating high profitability.
SB FINANCIAL GROUP, INC. (SBFG) generated $21 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SB FINANCIAL GROUP, INC. (SBFG) has a debt-to-equity ratio of 0.14. This indicates a conservatively financed balance sheet.
SB FINANCIAL GROUP, INC. (SBFG) reported earnings per share (EPS) of $2.19 in its most recent fiscal year.
SB FINANCIAL GROUP, INC. (SBFG) has a return on equity (ROE) of 10.4%. This indicates moderate shareholder returns.
The Ledger Terminal provides 17 years of financial data for SB FINANCIAL GROUP, INC. (SBFG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SB FINANCIAL GROUP, INC. (SBFG) has a book value per share of $22.18, based on its most recent annual SEC filing.