A Business at a Glance
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TEXAS CAPITAL BANCSHARES INC/TX
TCBI
$4.6B
Mkt Cap
$99.25
+0.59%
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a current P/E ratio of 14.6, compared to its historical median P/E of 16.2. The stock is currently considered Fair based on its historical valuation range.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a 5-year average return on invested capital (ROIC) of 5.5%. This is below average and may indicate limited pricing power.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a market capitalization of $5.2B. It is classified as a mid-cap stock.
Yes, TEXAS CAPITAL BANCSHARES INC/TX (TCBI) pays a dividend with a trailing twelve-month yield of 0.33%. The company also returns capital through share buybacks, with a buyback yield of 4.46%.
Based on historical P/E analysis, TEXAS CAPITAL BANCSHARES INC/TX (TCBI) appears fair. The current P/E of 14.6 is 10% below its historical median of 16.2. The estimated fair value CAGR (P/E method) is -3.5%.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) operates in the State Commercial Banks industry, within the Financials sector.
Texas Capital Bancshares is a Dallas-headquartered bank holding company that delivers customized financial solutions to businesses, entrepreneurs, and individual customers primarily across Texas through its wholly-owned subsidiary Texas Capital Bank and broker-dealer Texas Capital Securities. The company operates a diversified business model combining commercial lending (including real estate term and construction loans, mortgage warehouse lending, and treasury management services), investment banking and advisory services, and retail banking products, with specialized lines of business including mortgage finance, homebuilder finance, and Bask Bank, an online division offering American Airlines AAdvantage miles as deposit incentives. The company's strategy emphasizes maintaining financial resiliency through market cycles, building "first call" relationships with target clients through experienced bankers with deep industry expertise and community ties, and leveraging a scalable platform to serve clients across their life cycles. Unit economics are characterized by a mix of net interest income from lending and deposit relationships alongside growing fee-based revenue from treasury products, investment banking, and wealth management services, with the company targeting industry-leading client adoption and operational leverage. Distribution is concentrated in Texas with primary banking offices in Austin, Dallas, Fort Worth, Houston, and San Antonio, supplemented by nationwide capabilities in mortgage finance, homebuilder finance, and corporate and investment banking. The company's competitive positioning rests on its Texas-based decision-making authority, responsive and personalized service relative to larger out-of-state competitors, and increasingly diversified revenue streams that reduce reliance on net interest margin alone.
【Sustained platform scale and diversification】 Management expects continued realization of scale from multi-year platform investments, with total revenue growth anticipated in the mid- to high single-digit range driven by industry-leading client adoption and growth in fee income areas of focus, particularly treasury products, investment banking, and wealth management. Non-interest expense growth is expected in the mid-single digits, reflecting increased compensation tied to improved performance, targeted expansion into defined client coverage areas, and sustained platform investments that enhance operational resilience and structural profitability. The company maintains a conservative provision outlook reflecting continued economic uncertainty, with management operating from a position of financial resilience and expecting another year of positive operating leverage and meaningful earnings growth. Management commentary emphasizes broad-based client acquisition momentum across corporate, middle market, and business banking segments, with healthy investment banking pipelines and record fee generation supporting durable earnings diversification.
| Metric | Target | Period |
|---|---|---|
| Total Revenue Growth | mid- to high single-digit range | FY2026 |
| Full-year Non-Interest Revenue | $265 million-$290 million | FY2026 |
| Non-Interest Expense Growth | mid-single digits | FY2026 |
| Provision Expense | 35 basis points- 40 basis points of average LHI excluding mortgage finance | FY2026 |
| Full-year 2026 Average Mortgage Finance Warehouse Balance | $6 billion | FY2026 |
| Full-year 2026 Average CRE Balances Decline | approximately 10% | FY2026 |
| Mortgage Finance Self-Funding Ratio | 70%-80% | FY2026 |
Total Revenue Growth (FY2026): “We anticipate total revenue growth in the mid- to- high single-digit range, driven by industry-leading client adoption and continued growth in our fee income areas of focus”
Full-year Non-Interest Revenue (FY2026): “with full-year non-interest revenue expected to reach $265 million-$290 million”
Non-Interest Expense Growth (FY2026): “Anticipated non-interest expense growth in mid-single digits reflects increase year-over-year compensation expenses tied to improved performance, targeted expansion into defined client coverage areas, and sustained platform investments”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 2.0B | 1.8B | 1.8B | 1.5B | 1.0B |
| Net Income | 340M | 313M | 60M | 172M | 315M | 235M |
| EPS | $6.56 | $6.79 | $1.28 | $3.54 | $6.18 | $4.60 |
| Free Cash Flow | 436M | 348M | 415M | 357M | 137M | 653M |
| ROIC | 0.0% | 7.6% | 1.5% | 4.3% | 7.8% | 6.4% |
| Gross Margin | - | 60.1% | 49.2% | 57.4% | 77.9% | 86.4% |
| Debt/Equity | 0.24 | 0.17 | 0.20 | 0.27 | 0.30 | 0.29 |
| Dividends/Share | $0.33 | $0.37 | $0.37 | $0.36 | $0.34 | $0.37 |
| Operating Income | 0 | 433M | 107M | 247M | 432M | 338M |
| Operating Margin | 0.0% | 21.6% | 6.1% | 13.8% | 28.9% | 33.3% |
| ROE | 9.4% | 8.9% | 1.8% | 5.5% | 10.1% | 7.7% |
| Shares Outstanding | 52M | 46M | 47M | 49M | 51M | 51M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 557M | 651M | 764M | 954M | 1.2B | 1.5B | 1.2B | 1.0B | 1.5B | 1.8B | 1.8B | 2.0B | 1.3B |
| Gross Margin | 89.7% | 85.0% | 81.9% | 82.8% | 73.1% | 68.2% | 64.8% | 86.4% | 77.9% | 57.4% | 49.2% | 60.1% | 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 | 169M | 193M | 229M | 266M | 301M | 328M | 341M | 350M | 435M | 460M | 467M | 481M | 488M |
| EBIT | 212M | 224M | 241M | 325M | 373M | 396M | 92M | 338M | 432M | 247M | 107M | 433M | 0 |
| Op. Margin | 38.1% | 34.5% | 31.6% | 34.1% | 30.1% | 27.2% | 7.4% | 33.3% | 28.9% | 13.8% | 6.1% | 21.6% | 0.0% |
| Net Income | 127M | 135M | 145M | 186M | 284M | 302M | 57M | 235M | 315M | 172M | 60M | 313M | 340M |
| Net Margin | 22.7% | 20.8% | 19.0% | 19.5% | 22.8% | 20.7% | 4.6% | 23.2% | 21.1% | 9.6% | 3.4% | 15.7% | 26.1% |
| Non-Recurring | 0 | 0 | 0 | 6.1M | 6.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 9.2% | 8.2% | 8.0% | 8.9% | 12.1% | 11.4% | 1.9% | 6.4% | 7.8% | 4.3% | 1.5% | 7.6% | 0.0% |
| ROE | 9.8% | 8.7% | 8.0% | 8.9% | 12.1% | 11.4% | 2.0% | 7.7% | 10.1% | 5.5% | 1.8% | 8.9% | 9.4% |
| ROA | 0.9% | 0.8% | 0.7% | 0.8% | 1.1% | 1.0% | 0.2% | 0.6% | 1.0% | 0.6% | 0.2% | 1.0% | 1.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 158M | 69M | -726M | 132M | -680M | -240M | 2.6B | 657M | 148M | 374M | 480M | 360M | 447M |
| Free Cash Flow | 142M | 64M | -728M | 120M | -687M | -257M | 2.6B | 653M | 137M | 357M | 415M | 348M | 436M |
| Owner Earnings | 128M | 40M | -762M | 82M | -729M | -295M | 2.5B | 533M | 81M | 309M | 401M | 271M | 350M |
| CapEx | 16M | 5.0M | 2.2M | 12M | 7.7M | 17M | 2.8M | 4.1M | 11M | 16M | 65M | 13M | 12M |
| Maint. CapEx | 15M | 16M | 22M | 28M | 32M | 37M | 75M | 93M | 45M | 40M | 54M | 52M | 56M |
| Growth CapEx | 934K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11M | 0 | 0 |
| D&A | 15M | 16M | 22M | 28M | 32M | 37M | 75M | 93M | 45M | 40M | 54M | 52M | 56M |
| CapEx/OCF | 10.0% | 7.3% | N/A | 9.3% | N/A | N/A | 0.1% | 0.6% | 7.6% | 4.4% | 13.5% | 3.5% | 2.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 9.8M | 9.8M | 9.8M | 9.8M | 9.8M | 9.8M | 9.8M | 19M | 17M | 17M | 17M | 17M | 17M |
| Dividend Yield | 0.4% | 0.4% | 0.4% | 0.2% | 0.2% | 0.3% | 0.5% | 0.6% | 0.6% | 0.6% | 0.6% | 0.5% | 0.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 115M | 105M | 82M | 186M | 230M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.9% | 3.3% | 2.2% | 4.3% | 4.5% |
| Stock-Based Comp | 15M | 12M | 14M | 22M | 17M | 18M | 17M | 31M | 21M | 24M | 25M | 37M | 42M |
| Debt Repayment | 245M | 400M | 500M | 800M | 1.1B | 0 | 0 | 111M | 0 | 75M | 200M | 40M | 40M |
| Balance Sheet | |||||||||||||
| Net Debt | 256M | 246M | -335M | 654M | -2.1B | -4.4B | -11.4B | -10.6B | -4.1B | -2.4B | -2.5B | -1.5B | -2.1B |
| Cash & Equiv. | 1.3B | 1.8B | 2.8B | 2.9B | 3.1B | 4.4B | 9.2B | 7.9B | 5.0B | 3.2B | 3.2B | 2.1B | 3.0B |
| Long-Term Debt | 172M | 0 | 0 | N/A | N/A | 0 | 396M | 929M | 931M | 859M | 660M | 621M | 878M |
| Debt/Equity | 1.07 | 1.25 | 1.25 | 1.63 | 0.44 | 0.10 | 0.35 | 0.29 | 0.30 | 0.27 | 0.20 | 0.17 | 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 | N/A |
| Equity | 1.5B | 1.6B | 2.0B | 2.2B | 2.5B | 2.8B | 2.9B | 3.2B | 3.1B | 3.2B | 3.4B | 3.6B | 3.6B |
| Total Assets | 15.9B | 18.9B | 21.7B | 25.1B | 28.3B | 32.5B | 37.7B | 34.7B | 28.4B | 28.4B | 30.7B | 31.5B | 33.5B |
| Total Liabilities | 14.4B | 17.3B | 19.7B | 22.9B | 25.8B | 29.7B | 34.9B | 31.5B | 25.4B | 25.2B | 27.4B | 27.9B | 29.9B |
| Intangibles | 5.6M | 4.9M | 4.4M | 3.9M | 3.5M | 3.0M | 2.6M | 2.2M | 0 | N/A | N/A | N/A | N/A |
| Retained Earnings | 623M | 758M | 892M | 1.1B | 1.4B | 1.7B | 1.7B | 1.9B | 2.3B | 2.4B | 2.5B | 2.8B | 2.9B |
| 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 | 2.88 | 2.91 | 3.11 | 3.73 | 5.64 | 5.99 | 1.12 | 4.60 | 6.18 | 3.54 | 1.28 | 6.79 | 6.56 |
| Owner EPS | 2.92 | 0.86 | -16.30 | 1.65 | -14.49 | -5.85 | 50.46 | 10.42 | 1.59 | 6.37 | 8.52 | 5.88 | 6.73 |
| Book Value | 33.76 | 34.97 | 42.74 | 43.84 | 49.32 | 55.51 | 56.88 | 62.77 | 59.90 | 65.88 | 71.54 | 78.78 | 69.38 |
| Cash Flow/Share | 3.59 | 1.48 | -15.54 | 2.65 | -13.52 | -4.76 | 52.29 | 12.85 | 2.90 | 7.70 | 10.20 | 7.81 | 7.61 |
| Dividends/Share | 0.22 | 0.21 | 0.21 | 0.20 | 0.19 | 0.19 | 0.19 | 0.37 | 0.34 | 0.36 | 0.37 | 0.37 | 0.33 |
| Shares Out. | 44.0M | 46.4M | 46.7M | 50.0M | 50.3M | 50.5M | 50.5M | 51.1M | 51.0M | 48.6M | 47.1M | 46.1M | 52.0M |
| Valuation | |||||||||||||
| P/E Ratio | 19.2 | 17.1 | 25.5 | 24.3 | 9.0 | 9.5 | 52.7 | 12.9 | 9.5 | 18.5 | 60.6 | 13.8 | 15.1 |
| P/FCF | 17.1 | 36.1 | N/A | 37.8 | N/A | N/A | 1.1 | 4.7 | 21.9 | 8.9 | 8.8 | 12.4 | 11.8 |
| EV/EBIT | 11.2 | 9.8 | 11.4 | 12.0 | 0.8 | 3.7 | 11.2 | 8.4 | 5.1 | 4.5 | 4.8 | 4.1 | N/A |
| Price/Book | 1.6 | 1.4 | 1.9 | 2.1 | 1.0 | 1.0 | 1.0 | 0.9 | 1.0 | 1.0 | 1.1 | 1.2 | 1.4 |
| Price/Sales | 4.8 | 4.1 | 3.3 | 4.9 | 4.4 | 2.7 | 1.9 | 3.7 | 2.5 | 2.6 | 3.4 | 3.0 | 4.0 |
| FCF Yield | 5.8% | 2.8% | -19.7% | 2.6% | -26.8% | -8.9% | 88.5% | 21.5% | 4.6% | 11.2% | 11.4% | 8.0% | 8.4% |
| Market Cap | 2.4B | 2.3B | 3.7B | 4.5B | 2.6B | 2.9B | 3.0B | 3.0B | 3.0B | 3.2B | 3.7B | 4.3B | 5.2B |
| Avg. Price | 57.14 | 53.20 | 49.77 | 81.21 | 86.26 | 58.11 | 38.71 | 65.73 | 58.97 | 57.36 | 66.52 | 80.62 | 99.25 |
| Year-End Price | 55.30 | 49.65 | 79.25 | 90.70 | 51.00 | 57.01 | 59.06 | 59.47 | 58.68 | 65.48 | 77.61 | 93.80 | 99.25 |
TEXAS CAPITAL BANCSHARES INC/TX passes 5 of 9 quality checks, suggesting mixed fundamentals.
TEXAS CAPITAL BANCSHARES INC/TX trades at 14.6x trailing earnings, compared to its 15-year median P/E of 16.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.6x vs a median of 8.9x. The company's 5-year average ROIC is 5.5% with a gross margin of 66.2%. Total shareholder yield (dividends + buybacks) is 4.8%. At current prices, the estimated annualized return to fair value is -24.5%.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) reported annual revenue of $2.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a net profit margin of 15.7%. This is a healthy margin.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) generated $348 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a debt-to-equity ratio of 0.17. This indicates a conservatively financed balance sheet.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) reported earnings per share (EPS) of $6.79 in its most recent fiscal year.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a return on equity (ROE) of 8.9%. This indicates moderate shareholder returns.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a 5-year average gross margin of 66.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for TEXAS CAPITAL BANCSHARES INC/TX (TCBI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has a book value per share of $78.78, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued realization of scale from multi-year platform investments, with total revenue growth anticipated in the mid- to high single-digit range driven by industry-leading client adoption and growth in fee income areas of focus, particularly treasury products, investment banking, and wealth management. Non-interest expense growth is expected in the mid-single digits, reflecting increased compensation tied to improved performance, targeted expansion into defined client coverage areas, and sustained platform investments that enhance operational resilience and structural profitability. The company maintains a conservative provision outlook reflecting continued economic uncertainty, with management operating from a position of financial resilience and expecting another year of positive operating leverage and meaningful earnings growth. Management commentary emphasizes broad-based client acquisition momentum across corporate, middle market, and business banking segments, with healthy investment banking pipelines and record fee generation supporting durable earnings diversification.
Based on recent SEC filings and earnings calls, TEXAS CAPITAL BANCSHARES INC/TX (TCBI) has provided the following forward guidance: Total Revenue Growth: mid- to high single-digit range (FY2026); Full-year Non-Interest Revenue: $265 million-$290 million (FY2026); Non-Interest Expense Growth: mid-single digits (FY2026); Provision Expense: 35 basis points- 40 basis points of average LHI excluding mortgage finance (FY2026); Full-year 2026 Average Mortgage Finance Warehouse Balance: $6 billion (FY2026), plus 2 additional metrics.
Provision Expense (FY2026): “we reiterate the full-year provision outlook of 35 basis points- 40 basis points of average LHI excluding mortgage finance”
Full-year 2026 Average Mortgage Finance Warehouse Balance (FY2026): “That gets you to about a $6 billion full year average warehouse balance”
Full-year 2026 Average CRE Balances Decline (FY2026): “With expectations previously provided for full-year average CRE balances to decline approximately 10%, remaining intact”
Mortgage Finance Self-Funding Ratio (FY2026): “would expect the mortgage finance self-funding ratio to settle between 70%-80% in the near to medium term”
No recent press releases.