A Business at a Glance
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SECURITY FEDERAL CORP
SFDL
$132M
Mkt Cap
$41.81
+0.00%
SECURITY FEDERAL CORP (SFDL) has a current P/E ratio of 10.3, compared to its historical median P/E of 10.7. The stock is currently considered Fair based on its historical valuation range.
SECURITY FEDERAL CORP (SFDL) has a 5-year average return on invested capital (ROIC) of 7.0%. This is below average and may indicate limited pricing power.
SECURITY FEDERAL CORP (SFDL) has a market capitalization of $132M. It is classified as a small-cap stock.
Yes, SECURITY FEDERAL CORP (SFDL) pays a dividend with a trailing twelve-month yield of 1.67%. The company also returns capital through share buybacks, with a buyback yield of 1.72%.
Based on historical P/E analysis, SECURITY FEDERAL CORP (SFDL) appears fair. The current P/E of 10.3 is 4% below its historical median of 10.7. The estimated fair value CAGR (P/E method) is 6.8%.
SECURITY FEDERAL CORP (SFDL) operates in the State Commercial Banks industry, within the Financials sector.
SECURITY FEDERAL CORP (SFDL) reported annual revenue of $90 million in its most recent fiscal year, based on SEC EDGAR filings.
Security Federal Corporation Security Federal Corporation (the "Company") was incorporated under the laws of the State of Delaware in July 1987 for the purpose of becoming the savings and loan holding company for Security Federal Bank ("Security Federal" or the "Bank") upon the Bank's conversion from mutual to stock form (the "Conversion"). Effective August 17, 1998, the Company changed its state of incorporation from Delaware to South Carolina. On December 28, 2011, the Company reorganized into a bank holding company in connection with the Bank's conversion from a federally chartered stock savings bank to a South Carolina chartered commercial bank. As a result of the reorganization, the Federal Reserve became the Company's primary federal regulator. As a South Carolina corporation, the Company is authorized to engage in any activity permitted by South Carolina General Corporation Law. The Company is a one bank holding company.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 90M | 90M | 88M | 74M | 47M | 50M |
| Net Income | 12M | 12M | 8.9M | 10M | 10M | 13M |
| EPS | $3.80 | $3.80 | $2.77 | $3.14 | $3.14 | $3.93 |
| Free Cash Flow | 8.8M | 8.8M | 26M | 6.0M | 17M | 17M |
| ROIC | 5.8% | 6.3% | 5.0% | 6.1% | 6.2% | 11.2% |
| Gross Margin | 0.0% | 0.0% | - | - | - | - |
| Debt/Equity | 0.03 | 0.03 | 0.02 | 0.02 | 0.03 | 0.00 |
| Dividends/Share | $0.70 | $0.71 | $0.56 | $0.52 | $0.76 | $0.44 |
| Operating Income | 1.3M | 1.3M | 756K | 809K | 911K | 860K |
| Operating Margin | 1.5% | 1.5% | 0.9% | 1.1% | 1.9% | 1.7% |
| ROE | 6.0% | 6.3% | 5.0% | 6.1% | 6.4% | 11.2% |
| Shares Outstanding | 3M | 3M | 3M | 3M | 3M | 3M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 36M | 35M | 35M | 37M | 41M | 46M | 49M | 50M | 47M | 74M | 88M | 90M | 90M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| 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 | 11M | 12M | 13M | 14M | 16M | 17M | 18M | 19M | 34M | 20M | 22M | 24M | 24M |
| EBIT | 653K | 652K | 669K | 716K | 961K | 1.1M | 1.1M | 860K | 911K | 809K | 756K | 1.3M | 1.3M |
| Op. Margin | 1.8% | 1.9% | 1.9% | 1.9% | 2.4% | 2.5% | 2.2% | 1.7% | 1.9% | 1.1% | 0.9% | 1.5% | 1.5% |
| Net Income | 5.4M | 5.7M | 6.2M | 5.9M | 7.2M | 7.8M | 7.1M | 13M | 10M | 10M | 8.9M | 12M | 12M |
| Net Margin | 15.1% | 16.3% | 17.7% | 15.9% | 17.7% | 16.9% | 14.5% | 25.7% | 21.7% | 13.7% | 10.1% | 13.3% | 13.3% |
| Non-Recurring | 0 | 6K | 0 | 0 | 0 | 0 | 0 | 0 | -2K | -29K | -1K | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 6.5% | 6.4% | 7.0% | 6.9% | 8.6% | 7.7% | 6.0% | 11.2% | 6.2% | 6.1% | 5.0% | 6.3% | 5.8% |
| ROE | 6.5% | 6.4% | 7.6% | 7.9% | 9.1% | 9.0% | 6.9% | 11.2% | 6.4% | 6.1% | 5.0% | 6.3% | 6.0% |
| ROA | 0.6% | 0.7% | 0.8% | 0.7% | 0.8% | 0.8% | 0.7% | 1.0% | 0.7% | 0.7% | 0.6% | 0.7% | 0.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12M | 9.0M | 11M | 14M | 15M | 12M | 9.4M | 19M | 22M | 8.9M | 28M | 14M | 14M |
| Free Cash Flow | 10.0M | 5.9M | 8.9M | 11M | 12M | 7.2M | 8.1M | 17M | 17M | 6.0M | 26M | 8.8M | 8.8M |
| Owner Earnings | 11M | 7.7M | 10.0M | 12M | 13M | 10M | 7.5M | 17M | 20M | 6.7M | 26M | 12M | 12M |
| CapEx | 2.2M | 3.1M | 2.5M | 3.1M | 2.9M | 4.6M | 1.2M | 2.1M | 4.7M | 2.9M | 2.8M | 5.6M | 5.6M |
| Maint. CapEx | 1.2M | 1.2M | 1.4M | 1.5M | 1.5M | 1.6M | 1.9M | 2.0M | 2.0M | 2.1M | 2.1M | 2.2M | 2.2M |
| Growth CapEx | 990K | 1.9M | 1.1M | 1.6M | 1.4M | 3.0M | 0 | 192K | 2.7M | 706K | 692K | 3.4M | 3.4M |
| D&A | 1.2M | 1.2M | 1.4M | 1.5M | 1.5M | 1.6M | 1.9M | 2.0M | 2.0M | 2.1M | 2.1M | 2.2M | 2.2M |
| CapEx/OCF | 18.1% | 35.2% | 21.7% | 22.6% | 19.8% | 37.8% | 13.3% | 11.2% | 21.4% | 32.2% | 9.7% | N/A | 38.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 942K | 943K | 943K | 1.1M | 1.1M | 1.1M | 1.3M | 1.4M | 2.5M | 1.7M | 1.8M | 2.2M | 2.2M |
| Dividend Yield | 2.5% | 1.9% | 1.6% | 1.4% | 1.3% | 1.3% | 1.7% | 1.5% | 2.8% | 2.3% | 2.3% | N/A | 1.7% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 582K | 1.1M | 2.3M | 2.3M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.8% | 1.2% | 0.0% | 1.7% |
| Stock-Based Comp | 13K | 25K | 8K | 0 | 0 | 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 20K | 0 | 0 | 132K | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -4.1M | -2.3M | 4.3M | -1.2M | -6.6M | 18M | -17M | -710M | -573M | -634M | -700M | 108M | 108M |
| Cash & Equiv. | 10M | 8.4M | 9.4M | 10M | 13M | 13M | 18M | 28M | 29M | 100M | 178M | -103M | -103M |
| Long-Term Debt | N/A | 0 | 13M | 8.5M | 0 | 30M | 0 | 0 | 5.2M | N/A | N/A | N/A | 5.2M |
| Debt/Equity | 0.07 | 0.07 | 0.19 | 0.12 | 0.08 | 0.34 | 0.01 | 0.00 | 0.03 | 0.02 | 0.02 | 0.03 | 0.03 |
| Interest Coverage | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 |
| Equity | 87M | 91M | 71M | 78M | 81M | 92M | 112M | 116M | 160M | 172M | 182M | 200M | 200M |
| Total Assets | 825M | 800M | 813M | 869M | 913M | 963M | 1.2B | 1.3B | 1.4B | 1.5B | 1.6B | 1.6B | 1.6B |
| Total Liabilities | 738M | 709M | 742M | 791M | 832M | 871M | 1.1B | 1.2B | 1.2B | 1.4B | 1.4B | 1.4B | 1.4B |
| Intangibles | 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | 1.2M | N/A | N/A | N/A | N/A |
| Retained Earnings | 52M | 57M | 62M | 67M | 73M | 79M | 85M | 96M | 104M | 111M | 118M | 128M | 128M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 1.75 | 1.84 | 1.99 | 1.91 | 2.32 | 2.50 | 2.19 | 3.93 | 3.14 | 3.14 | 2.77 | 3.80 | 3.80 |
| Owner EPS | 3.58 | 2.50 | 3.21 | 3.89 | 4.19 | 3.29 | 2.32 | 5.33 | 6.11 | 2.07 | 8.22 | 3.87 | 3.87 |
| Book Value | 28.49 | 29.49 | 22.97 | 25.15 | 25.92 | 29.43 | 34.76 | 35.54 | 49.19 | 53.11 | 56.89 | 63.40 | 63.40 |
| Cash Flow/Share | 3.98 | 2.91 | 3.67 | 4.38 | 4.67 | 3.80 | 2.91 | 5.93 | 6.71 | 2.73 | 8.87 | 4.55 | 4.48 |
| Dividends/Share | 0.32 | 0.32 | 0.32 | 0.36 | 0.36 | 0.40 | 0.40 | 0.44 | 0.76 | 0.52 | 0.56 | 0.71 | 0.70 |
| Shares Out. | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.2M | 3.3M | 3.3M | 3.2M | 3.2M | 3.2M | 3.2M |
| Valuation | |||||||||||||
| P/E Ratio | 8.6 | 9.8 | 15.1 | 14.2 | 10.7 | 12.0 | 12.3 | 7.4 | 7.6 | 6.8 | 9.5 | N/A | 11.0 |
| P/FCF | 4.6 | 9.5 | 10.5 | 8.0 | 6.6 | 12.9 | 10.7 | 5.5 | 4.6 | 11.8 | 3.3 | N/A | 15.0 |
| EV/EBIT | 62.7 | 72.3 | 144.5 | 115.1 | 69.4 | 75.5 | 68.5 | 84.0 | 59.9 | -66.5 | -117.8 | N/A | 183.4 |
| Price/Book | 0.5 | 0.6 | 1.3 | 1.1 | 1.0 | 1.0 | 0.8 | 0.8 | 0.5 | 0.4 | 0.5 | N/A | 0.7 |
| Price/Sales | 1.2 | 1.6 | 1.9 | 2.4 | 2.4 | 2.4 | 1.8 | 2.1 | 1.9 | 1.5 | 1.5 | N/A | 1.5 |
| FCF Yield | 21.7% | 10.6% | 9.6% | 12.5% | 15.1% | 7.7% | 9.3% | 18.1% | 22.1% | 8.7% | 30.5% | N/A | 6.7% |
| Market Cap | 46M | 55M | 93M | 84M | 77M | 93M | 87M | 95M | 78M | 69M | 84M | 0 | 132M |
| Avg. Price | 12.06 | 15.72 | 19.53 | 25.13 | 26.82 | 28.53 | 23.66 | 29.03 | 27.17 | 23.00 | 24.07 | 0.00 | 41.81 |
| Year-End Price | 14.98 | 17.99 | 30.04 | 27.19 | 24.80 | 29.92 | 27.00 | 29.12 | 24.12 | 21.74 | 26.38 | 0.00 | 41.81 |
SECURITY FEDERAL CORP passes 2 of 9 quality checks, indicating weak fundamentals.
SECURITY FEDERAL CORP trades at 10.3x trailing earnings, compared to its 15-year median P/E of 10.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.4x vs a median of 8.0x. The company's 5-year average ROIC is 7.0%. Total shareholder yield (dividends + buybacks) is 3.4%. At current prices, the estimated annualized return to fair value is +6.1%.
SECURITY FEDERAL CORP (SFDL) has a net profit margin of 13.3%. This is a healthy margin.
SECURITY FEDERAL CORP (SFDL) generated $9 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SECURITY FEDERAL CORP (SFDL) has a debt-to-equity ratio of 0.03. This indicates a conservatively financed balance sheet.
SECURITY FEDERAL CORP (SFDL) reported earnings per share (EPS) of $3.80 in its most recent fiscal year.
SECURITY FEDERAL CORP (SFDL) has a return on equity (ROE) of 6.3%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for SECURITY FEDERAL CORP (SFDL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SECURITY FEDERAL CORP (SFDL) has a book value per share of $63.40, based on its most recent annual SEC filing.
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