SouthState Corp

Chart & Performance

D1W1MN

P/E

15.79

P/S

4.01

EPS

6.48

Div Yield, %

2.00%

Shrs. gr., 5y

15.77%

Rev. gr., 5y

24.69%

Revenues

1.94b

+24.40%

Net income

494m

-0.35%

CFO

547m

-68.41%

Dividend

Aug 09, 20240.54 USD/sh

Earnings

Jan 23, 2025

Profile

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits. The company also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment loans. In addition, it provides debit card, mobile and funds transfer products, and treasury management services comprising merchant, automated clearing house, lock-box, remote deposit capture, and other treasury services. Further, the company offers safe deposit boxes, bank money orders, wire transfer, brokerage services, and alternative investment products, including annuities, mutual funds, and trust and asset management services; and credit cards, letters of credit, and home equity lines of credit. As of December 31, 2021, it served customers through 281 branches in Florida, South Carolina, Alabama, Georgia, North Carolina, and Virginia. SouthState Corporation also serves its customers through online, mobile, and telephone banking platforms. The company was formerly known as First Financial Holdings, Inc. and changed its name to SouthState Corporation in July 2013. SouthState Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.

URL

https://southstatecorporation.q4ir.com/

IPO date

Jan 28, 1997

Employees

5,162

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12	2014‑12
Income
Revenues	1,944,406 24.40%	1,563,063 0.67%	1,552,700 72.21%
Cost of revenue	681,441	606,758	678,724
Unusual Expense (Income)
NOPBT	1,262,965	956,305	873,976
NOPBT Margin	64.95%	61.18%	56.29%
Operating Taxes	136,544	137,313	128,736
Tax Rate	10.81%	14.36%	14.73%
NOPAT	1,126,421	818,992	745,240
Net income	494,308 -0.35%	496,049 4.31%	475,543 294.21%
Dividends	(156,184)	(146,664)	(135,337)
Dividend yield	2.42%	2.55%	2.38%
Proceeds from repurchase of equity	(13,292)	(116,472)	(145,037)
BB yield	0.21%	2.03%	2.55%
Debt
Debt current	100,000
Long-term debt	381,594	392,275	327,066
Deferred revenue
Other long-term liabilities		(392,275)	(327,066)
Net debt	(12,308,908)	(13,703,977)	(12,594,701)
Cash flow
Cash from operating activities	546,757	1,730,893	537,265
CAPEX		(17,670)	(28,418)
Cash from investing activities	(1,426,439)	(4,860,396)	(2,319,261)
Cash from financing activities	565,996	(2,279,505)	4,015,888
FCF	1,127,859	856,856	765,980
Balance
Cash	5,295,310	5,875,209	5,670,131
Long term investments	7,495,192	8,221,043	7,251,636
Excess cash	12,693,282	14,018,099	12,844,132
Stockholders' equity	1,292,685	859,215	1,149,842
Invested Capital	43,609,339	43,059,481	40,810,190
ROIC	2.60%	1.95%	1.92%
ROCE	2.81%	2.18%	2.08%
EV
Common stock shares outstanding	76,480	75,181	70,889
Price	84.45 10.59%	76.36 -4.68%	80.11 10.80%
Market cap	6,458,736 12.51%	5,740,821 1.09%	5,678,918 42.65%
EV	(5,850,172)	(7,963,156)	(6,915,783)
EBITDA	1,321,791	1,020,896	937,113
EV/EBITDA
Interest	491,798	61,354	51,629
Interest/NOPBT	38.94%	6.42%	5.91%