A Business at a Glance
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SOUTHSIDE BANCSHARES INC
SBSI
$1.0B
Mkt Cap
$34.21
+0.35%
SOUTHSIDE BANCSHARES INC (SBSI) has a current P/E ratio of 14.9, compared to its historical median P/E of 10.7. The stock is currently considered Expensive based on its historical valuation range.
SOUTHSIDE BANCSHARES INC (SBSI) has a 5-year average return on invested capital (ROIC) of 9.3%. This is below average and may indicate limited pricing power.
SOUTHSIDE BANCSHARES INC (SBSI) has a market capitalization of $1.3B. It is classified as a small-cap stock.
Yes, SOUTHSIDE BANCSHARES INC (SBSI) pays a dividend with a trailing twelve-month yield of 3.31%. The company also returns capital through share buybacks, with a buyback yield of 1.78%.
Based on historical P/E analysis, SOUTHSIDE BANCSHARES INC (SBSI) appears expensive. The current P/E of 14.9 is 40% above its historical median of 10.7. The estimated fair value CAGR (P/E method) is 3.7%.
SOUTHSIDE BANCSHARES INC (SBSI) operates in the State Commercial Banks industry, within the Financials sector.
SOUTHSIDE BANCSHARES INC (SBSI) reported annual revenue of $419 million in its most recent fiscal year, based on SEC EDGAR filings.
Table of Contents IMPORTANT INFORMATION ABOUT THIS REPORT In this report, the words “the Company,” “we,” “us,” and “our” refer to the combined entities of Southside Bancshares, Inc. and its subsidiaries, including Southside Bank. The words “Southside” and “Southside Bancshares” refer to Southside Bancshares, Inc. The words “Southside Bank” and “the Bank” refer to Southside Bank. PART I FORWARD-LOOKING INFORMATION The disclosures set forth in this item are qualified by the section captioned “Cautionary Notice Regarding Forward-Looking Statements” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report on Form 10-K and other cautionary statements set forth elsewhere in this report. Southside Bancshares, Inc., incorporated in Texas in 1982, is a bank holding company for Southside Bank, a Texas state bank headquartered in Tyler, Texas that was formed in 1960.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 243M | 419M | 456M | 396M | 294M | 265M |
| Net Income | 71M | 69M | 88M | 87M | 105M | 113M |
| EPS | $1.86 | $2.29 | $2.91 | $2.82 | $3.26 | $3.47 |
| Free Cash Flow | 97M | 73M | 91M | 73M | 217M | 148M |
| ROIC | 6.7% | 6.6% | 9.4% | 9.5% | 10.6% | 10.3% |
| Gross Margin | - | 63.2% | 65.6% | 61.1% | 85.1% | 83.6% |
| Debt/Equity | 0.24 | 0.35 | 0.19 | 0.20 | 0.21 | 0.17 |
| Dividends/Share | $1.13 | $1.44 | $1.44 | $1.42 | $1.40 | $1.37 |
| Operating Income | 7.8M | 7.0M | 5.1M | 5.7M | 6.3M | 131M |
| Operating Margin | 3.2% | 1.7% | 1.1% | 1.4% | 2.2% | 49.3% |
| ROE | 8.3% | 8.3% | 11.2% | 11.4% | 12.7% | 12.7% |
| Shares Outstanding | 38M | 30M | 30M | 31M | 32M | 33M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 148M | 192M | 208M | 225M | 270M | 283M | 282M | 265M | 294M | 396M | 456M | 419M | 243M |
| Gross Margin | 78.5% | 85.3% | 81.2% | 78.6% | 75.7% | 73.1% | 77.0% | 83.6% | 85.1% | 61.1% | 65.6% | 63.2% | 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 | 61M | 63M | 62M | 61M | 71M | 74M | 77M | 80M | 83M | 86M | 90M | 90M | 92M |
| EBIT | 3.0M | 3.8M | 4.8M | 4.5M | 5.1M | 4.4M | 4.4M | 131M | 6.3M | 5.7M | 5.1M | 7.0M | 7.8M |
| Op. Margin | 2.0% | 2.0% | 2.3% | 2.0% | 1.9% | 1.6% | 1.6% | 49.3% | 2.2% | 1.4% | 1.1% | 1.7% | 3.2% |
| Net Income | 21M | 44M | 49M | 54M | 74M | 75M | 82M | 113M | 105M | 87M | 88M | 69M | 71M |
| Net Margin | 14.1% | 22.9% | 23.7% | 24.1% | 27.5% | 26.3% | 29.2% | 42.7% | 35.7% | 21.9% | 19.4% | 16.5% | 29.2% |
| Non-Recurring | 2.7M | -584K | -376K | -152K | -768K | -592K | -877K | -324K | -576K | -342K | -160K | -1.8M | -1.8M |
| Returns on Capital | |||||||||||||
| ROIC | 2.2% | 4.2% | 5.9% | 6.8% | 8.2% | 8.0% | 7.8% | 10.3% | 10.6% | 9.5% | 9.4% | 6.6% | 6.7% |
| ROE | 6.1% | 10.1% | 10.3% | 8.5% | 10.0% | 9.7% | 9.8% | 12.7% | 12.7% | 11.4% | 11.2% | 8.3% | 8.3% |
| ROA | 0.5% | 0.9% | 0.9% | 0.9% | 1.2% | 1.2% | 1.2% | 1.6% | 1.4% | 1.1% | 1.1% | 0.8% | 0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 56M | 73M | 87M | 92M | 122M | 81M | 91M | 156M | 227M | 80M | 102M | 94M | 119M |
| Free Cash Flow | 51M | 69M | 80M | 82M | 109M | 65M | 79M | 148M | 217M | 73M | 91M | 73M | 97M |
| Owner Earnings | 51M | 63M | 76M | 80M | 106M | 66M | 75M | 142M | 212M | 66M | 88M | 80M | 105M |
| CapEx | 5.2M | 3.8M | 6.5M | 9.6M | 13M | 16M | 11M | 8.4M | 9.3M | 6.9M | 11M | 20M | 22M |
| Maint. CapEx | 3.5M | 8.6M | 9.1M | 10M | 14M | 12M | 12M | 11M | 11M | 11M | 10M | 11M | 11M |
| Growth CapEx | 1.7M | 0 | 0 | 0 | 0 | 3.8M | 0 | 0 | 0 | 0 | 703K | 9.7M | 11M |
| D&A | 3.5M | 8.6M | 9.1M | 10M | 14M | 12M | 12M | 11M | 11M | 11M | 10M | 11M | 11M |
| CapEx/OCF | 9.2% | 5.2% | 7.6% | 10.5% | 11.0% | 19.7% | 12.6% | 5.4% | 4.1% | 8.6% | 11.0% | 21.7% | 18.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 18M | 25M | 26M | 32M | 42M | 43M | 43M | 45M | 45M | 44M | 44M | 43M | 43M |
| Dividend Yield | 4.9% | 5.3% | 4.8% | 4.5% | 4.8% | 4.9% | 5.6% | 4.4% | 4.3% | 5.2% | 5.1% | 5.0% | 3.3% |
| Share Buybacks | 0 | 0 | 10M | 0 | 47M | 2.2M | 31M | 34M | 34M | 45M | 1.5M | 23M | 23M |
| Buyback Yield | N/A | N/A | 1.5% | N/A | 5.7% | 0.2% | 3.7% | 3.0% | 3.4% | 5.0% | 0.2% | 2.5% | 1.8% |
| Stock-Based Comp | 1.1M | 1.4M | 1.5M | 1.8M | 2.3M | 2.4M | 3.0M | 3.0M | 3.2M | 3.6M | 3.5M | 3.0M | 3.8M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 877M | 1.1B | 862M | 987M | -1.4B | -1.5B | -1.8B | -2.8B | -1.3B | -1.7B | -1.8B | -90M | -180M |
| Cash & Equiv. | 85M | 81M | 170M | 199M | 121M | 111M | 108M | 202M | 199M | 561M | 426M | 390M | 387M |
| Long-Term Debt | 660M | 563M | 158M | 158M | 159M | 159M | 258M | 159M | 159M | 154M | 152M | 300M | 208M |
| Debt/Equity | 2.26 | 2.73 | 1.99 | 1.57 | 1.03 | 1.24 | 0.98 | 0.17 | 0.21 | 0.20 | 0.19 | 0.35 | 0.24 |
| 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 | 0.1 |
| Equity | 425M | 444M | 518M | 754M | 731M | 805M | 875M | 912M | 746M | 773M | 812M | 848M | 855M |
| Total Assets | 4.8B | 5.2B | 5.6B | 6.5B | 6.1B | 6.7B | 7.0B | 7.3B | 7.6B | 8.3B | 8.5B | 8.5B | 8.8B |
| Total Liabilities | 4.4B | 4.7B | 5.0B | 5.7B | 5.4B | 5.9B | 6.1B | 6.3B | 6.8B | 7.5B | 7.7B | 7.7B | 7.9B |
| Intangibles | 8.8M | 6.5M | 4.6M | 23M | 18M | 13M | 9.7M | 6.9M | 4.6M | 2.9M | 1.8M | 1.0M | 880K |
| Retained Earnings | 55M | 42M | 30M | 33M | 65M | 80M | 111M | 180M | 240M | 282M | 327M | 352M | 365M |
| 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 | 0.99 | 1.61 | 1.81 | 1.81 | 2.11 | 2.20 | 2.47 | 3.47 | 3.26 | 2.82 | 2.91 | 2.29 | 1.86 |
| Owner EPS | 2.45 | 2.30 | 2.79 | 2.66 | 3.02 | 1.95 | 2.27 | 4.33 | 6.59 | 2.14 | 2.89 | 2.65 | 2.74 |
| Book Value | 20.21 | 16.25 | 19.01 | 25.13 | 20.81 | 23.74 | 26.32 | 27.91 | 23.16 | 25.17 | 26.72 | 28.06 | 22.43 |
| Cash Flow/Share | 2.66 | 2.67 | 3.18 | 3.06 | 3.48 | 2.38 | 2.72 | 4.78 | 7.03 | 2.60 | 3.35 | 3.11 | 2.14 |
| Dividends/Share | 0.96 | 0.96 | 1.00 | 1.11 | 1.20 | 1.26 | 1.30 | 1.37 | 1.40 | 1.42 | 1.44 | 1.44 | 1.13 |
| Shares Out. | 21.0M | 27.3M | 27.3M | 30.0M | 35.1M | 33.9M | 33.3M | 32.7M | 32.2M | 30.7M | 30.4M | 30.2M | 38.1M |
| Valuation | |||||||||||||
| P/E Ratio | 17.5 | 9.9 | 14.0 | 13.4 | 11.1 | 12.9 | 10.1 | 10.0 | 9.4 | 10.2 | 10.3 | 13.5 | 18.4 |
| P/FCF | 7.3 | 6.3 | 8.6 | 8.9 | 7.6 | 14.9 | 10.5 | 7.7 | 4.5 | 12.2 | 10.0 | 12.7 | 13.5 |
| EV/EBIT | 389.3 | 398.6 | 401.0 | 136.4 | N/A | N/A | N/A | N/A | N/A | N/A | 106.7 | 109.4 | 144.8 |
| Price/Book | 0.9 | 1.0 | 1.3 | 1.0 | 1.1 | 1.2 | 0.9 | 1.2 | 1.3 | 1.1 | 1.1 | 1.1 | 1.5 |
| Price/Sales | 2.7 | 2.8 | 3.0 | 4.0 | 4.1 | 4.1 | 3.2 | 4.3 | 4.2 | 3.3 | 3.3 | 3.6 | 5.4 |
| FCF Yield | 14.0% | 15.8% | 11.6% | 11.3% | 13.2% | 6.7% | 9.6% | 13.0% | 22.1% | 8.2% | 10.0% | 7.9% | 7.4% |
| Market Cap | 364M | 437M | 693M | 728M | 824M | 962M | 827M | 1.1B | 984M | 888M | 911M | 935M | 1.3B |
| Avg. Price | 17.42 | 17.46 | 19.82 | 24.08 | 24.85 | 25.59 | 23.06 | 31.33 | 32.65 | 27.30 | 28.32 | 28.56 | 34.21 |
| Year-End Price | 17.74 | 15.99 | 25.40 | 24.27 | 23.45 | 28.40 | 24.88 | 34.65 | 30.53 | 28.87 | 29.96 | 30.92 | 34.21 |
SOUTHSIDE BANCSHARES INC passes 5 of 9 quality checks, suggesting mixed fundamentals.
SOUTHSIDE BANCSHARES INC trades at 14.9x trailing earnings, compared to its 15-year median P/E of 10.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 13.8x vs a median of 9.5x. The company's 5-year average ROIC is 9.3% with a gross margin of 71.7%. Total shareholder yield (dividends + buybacks) is 5.1%. At current prices, the estimated annualized return to fair value is +0.4%.
SOUTHSIDE BANCSHARES INC (SBSI) has a net profit margin of 16.5%. This is a healthy margin.
SOUTHSIDE BANCSHARES INC (SBSI) generated $73 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SOUTHSIDE BANCSHARES INC (SBSI) has a debt-to-equity ratio of 0.35. This indicates a conservatively financed balance sheet.
SOUTHSIDE BANCSHARES INC (SBSI) reported earnings per share (EPS) of $2.29 in its most recent fiscal year.
SOUTHSIDE BANCSHARES INC (SBSI) has a return on equity (ROE) of 8.3%. This indicates moderate shareholder returns.
SOUTHSIDE BANCSHARES INC (SBSI) has a 5-year average gross margin of 71.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for SOUTHSIDE BANCSHARES INC (SBSI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SOUTHSIDE BANCSHARES INC (SBSI) has a book value per share of $28.06, based on its most recent annual SEC filing.