NII growth of 7.0% to $242.0M in 2026Q3 and a normalized 42.1% efficiency ratio drove record $166.9M operating income, but EPS growth decelerated to 3.2% and roughly $19.2M of that operating gain traces to the provision swinging to zero, suggesting reserve movements at least as much as origination momentum.
Home Bancshares, Inc. (HOMB) annual income statement — 22-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Net Interest Income | 916.81M | 870.04M | 848.77M | 826.95M | 758.68M | 572.97M | 582.55M | 563.22M | 561.01M | 455.9M | 405.96M | 355.71M | 317.02M | 202.59M | 155.6M | 141.25M | 116.41M | 92.31M | 86.05M | 67.99M | 62.82M | 49.46M | 25.1M |
| NII Growth % | 17.54% | 2.51% | 2.64% | 9% | 32.41% | -1.65% | 3.43% | 0.39% | 23.05% | 12.3% | 14.13% | 12.21% | 56.48% | 30.2% | 10.16% | 21.34% | 26.11% | 7.27% | 26.57% | 8.22% | 27.03% | 97.03% | - |
| Net Interest Margin % | 3.8% | 3.8% | 3.77% | 3.65% | 3.32% | 3.17% | 3.55% | 3.75% | 3.67% | 3.16% | 4.14% | 3.83% | 4.28% | 2.97% | 3.67% | 3.92% | 3.09% | 3.44% | 3.34% | 2.97% | 2.87% | 2.59% | 3.12% |
| Interest Income | 1.31B | 1.28B | 1.3B | 1.18B | 877.77M | 625.17M | 675.96M | 717.99M | 685.37M | 520.25M | 436.54M | 377.44M | 335.89M | 217.13M | 177.13M | 171.81M | 151.12M | 132.25M | 145.72M | 141.76M | 123.76M | 85.46M | 36.68M |
| Interest Expense | 389.58M | 408.78M | 451M | 348.11M | 119.09M | 52.2M | 93.41M | 154.77M | 124.36M | 64.35M | 30.58M | 21.72M | 18.87M | 14.53M | 21.54M | 30.55M | 34.71M | 39.94M | 59.67M | 73.78M | 60.94M | 36M | 11.58M |
| Loan Loss Provision | -2.22M | -96.78M | 48.4M | 10.45M | 61.58M | -4.75M | 129.25M | 1.32M | 4.32M | 44.25M | 18.61M | 25.16M | 22.66M | 5.18M | 2.75M | 3.5M | 72.85M | 11.15M | 27.02M | 3.24M | 2.31M | 3.83M | 2.29M |
| Non-Interest Income | 193.2M | 95.54M | 152.23M | 151.32M | 158.2M | 126.81M | 102.01M | 90.91M | 94.33M | 88.53M | 80.03M | 67.21M | 64.08M | 45.55M | 37.01M | 32.49M | 23.39M | 30.66M | 22.51M | 25.84M | 19.13M | 15.69M | 18.09M |
| Non-Interest Income % | 17.41% | 9.89% | 15.21% | 15.47% | 17.25% | 18.12% | 14.9% | 13.9% | 14.39% | 16.26% | 16.47% | 15.89% | 16.81% | 18.35% | 19.21% | 18.7% | 16.73% | 24.93% | 20.74% | 27.54% | 23.34% | 24.08% | 41.89% |
| Total Net Revenue | 1.11B | 965.59M | 1B | 978.26M | 916.88M | 699.78M | 684.56M | 654.13M | 655.34M | 544.43M | 485.99M | 422.92M | 381.1M | 248.14M | 192.61M | 173.75M | 139.81M | 122.97M | 108.56M | 93.83M | 81.95M | 65.14M | 43.19M |
| Revenue Growth % | 4.92% | -3.54% | 2.32% | 6.69% | 31.02% | 2.22% | 4.65% | -0.18% | 20.37% | 12.03% | 14.91% | 10.97% | 53.58% | 28.83% | 10.86% | 24.27% | 13.69% | 13.27% | 15.71% | 14.49% | 25.8% | 50.82% | - |
| Non-Interest Expense | 484.99M | 461.06M | 430.26M | 455.93M | 460.73M | 287.76M | 277.61M | 267.18M | 255.5M | 229.1M | 184.73M | 179.26M | 181.26M | 138.49M | 91.41M | 85.9M | 43.35M | 72.88M | 69.51M | 61.62M | 56.48M | 44.94M | 26.71M |
| Efficiency Ratio | 43.69% | 47.75% | 42.98% | 46.61% | 50.25% | 41.12% | 40.55% | 40.85% | 38.99% | 42.08% | 38.01% | 42.39% | 47.56% | 55.81% | 47.46% | 49.44% | 31% | 59.27% | 64.03% | 65.68% | 68.92% | 68.98% | 61.85% |
| Operating Income | 627.24M | 601.3M | 522.34M | 511.88M | 394.57M | 416.77M | 277.7M | 385.62M | 395.52M | 271.08M | 282.65M | 218.49M | 177.17M | 104.47M | 98.45M | 84.34M | 23.61M | 38.94M | 12.04M | 28.96M | 23.16M | 16.38M | 14.19M |
| Operating Margin % | 56.51% | 62.27% | 52.18% | 52.33% | 43.03% | 59.56% | 40.57% | 58.95% | 60.35% | 49.79% | 58.16% | 51.66% | 46.49% | 42.1% | 51.11% | 48.54% | 16.89% | 31.66% | 11.09% | 30.87% | 28.27% | 25.15% | 32.85% |
| Operating Income Growth % | - | 15.12% | 2.04% | 29.73% | -5.33% | 50.08% | -27.99% | -2.5% | 45.9% | -4.09% | 29.36% | 23.32% | 69.59% | 6.12% | 16.73% | 257.2% | -39.36% | 223.5% | -58.45% | 25.03% | 41.41% | 15.45% | - |
| Pretax Income | 626.87M | 601.3M | 522.34M | 511.88M | 394.57M | 416.77M | 277.7M | 385.62M | 395.52M | 271.08M | 282.65M | 218.49M | 177.17M | 104.47M | 98.45M | 84.34M | 23.61M | 38.94M | 12.04M | 28.96M | 23.16M | 16.38M | 14.19M |
| Pretax Margin % | 56.47% | 62.27% | 52.18% | 52.33% | 43.03% | 59.56% | 40.57% | 58.95% | 60.35% | 49.79% | 58.16% | 51.66% | 46.49% | 42.1% | 51.11% | 48.54% | 16.89% | 31.66% | 11.09% | 30.87% | 28.27% | 25.15% | 32.85% |
| Income Tax | 141.65M | 125.86M | 120.1M | 118.95M | 89.31M | 97.75M | 63.26M | 96.08M | 95.12M | 136M | 105.5M | 80.29M | 64.11M | 37.95M | 35.43M | 29.6M | 6.02M | 12.13M | 1.92M | 8.52M | 7.25M | 4.93M | 5.03M |
| Effective Tax Rate % | 22.6% | 20.93% | 22.99% | 23.24% | 22.64% | 23.45% | 22.78% | 24.92% | 24.05% | 50.17% | 37.33% | 36.75% | 36.18% | 36.33% | 35.99% | 35.1% | 25.5% | 31.15% | 15.95% | 29.41% | 31.28% | 30.13% | 35.45% |
| Net Income | 485.21M | 475.44M | 402.24M | 392.93M | 305.26M | 319.02M | 214.45M | 289.54M | 300.4M | 135.08M | 177.15M | 138.2M | 113.06M | 66.52M | 63.02M | 54.74M | 17.59M | 26.81M | 10.12M | 20.45M | 15.92M | 11.45M | 9.16M |
| Net Margin % | 43.71% | 49.24% | 40.18% | 40.17% | 33.29% | 45.59% | 31.33% | 44.26% | 45.84% | 24.81% | 36.45% | 32.68% | 29.67% | 26.81% | 32.72% | 31.51% | 12.58% | 21.8% | 9.32% | 21.79% | 19.42% | 17.57% | 21.21% |
| Net Income Growth % | 5.99% | 18.2% | 2.37% | 28.72% | -4.31% | 48.76% | -25.93% | -3.62% | 122.38% | -23.74% | 28.18% | 22.23% | 69.97% | 5.55% | 15.13% | 211.19% | -34.38% | 164.99% | -50.52% | 28.44% | 39.07% | 24.97% | - |
| Net Income (Continuing) | 485.21M | 475.44M | 402.24M | 392.93M | 305.26M | 319.02M | 214.45M | 289.54M | 300.4M | 135.08M | 177.15M | 138.2M | 113.06M | 66.52M | 63.02M | 54.74M | 17.59M | 26.81M | 10.12M | 20.45M | 15.92M | 11.45M | 9.16M |
| EPS (Diluted) | 2.45 | 2.41 | 2.01 | 1.94 | 1.57 | 1.94 | 1.30 | 1.73 | 1.73 | 0.89 | 1.26 | 1.01 | 0.85 | 0.57 | 0.56 | 0.46 | 0.13 | 0.25 | 0.11 | 0.25 | 0.21 | 0.17 | 0.20 |
| EPS Growth % | 5.6% | 19.9% | 3.61% | 23.57% | -19.07% | 49.23% | -24.86% | 0% | 94.38% | -29.37% | 24.75% | 18.82% | 49.12% | 1.79% | 21.74% | 253.85% | -48% | 127.27% | -56% | 19.05% | 23.53% | -15% | - |
| EPS (Basic) | - | 2.41 | 2.01 | 1.94 | 1.57 | 1.94 | 1.30 | 1.73 | 1.73 | 0.90 | 1.26 | 1.01 | 0.86 | 0.57 | 0.56 | 0.47 | 0.13 | 0.26 | 0.12 | 0.25 | 0.23 | 0.19 | 0.23 |
| Diluted Shares Outstanding | 197.65M | 197.65M | 200.07M | 202.77M | 195.02M | 164.86M | 165.37M | 167.8M | 174.12M | 151.53M | 140.71M | 137.13M | 132.66M | 116.5M | 113.26M | 114.45M | 114.4M | 95.54M | 89.38M | 83.28M | 73.94M | 63.01M | 69.52M |
Quick answers to the most common questions about buying HOMB stock.
For fiscal year 2025, Home Bancshares, Inc. (HOMB) reported total revenue of $965.6M. This represents a 2135.6% increase compared to $43.2M in 2004.
Home Bancshares, Inc. (HOMB) is profitable, generating $475.4M in net income for the fiscal year ending 2025 with a net profit margin of 49.2%.
Home Bancshares, Inc. (HOMB) reported an operating income of $601.3M, resulting in an operating profit margin of 62.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Home Bancshares, Inc. (HOMB) generated $1.06B in gross profit for the year, representing a gross profit margin of 110.0%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Provision release dependence
Metrics are mathematically derived from official filings.
NII Growth Reaccelerates to 7.0%
Net interest income rose 7.0% year over year to $242.0M in 2026Q3, the fastest print since 2024Q4, according to HOMB's reported income statement; the sequential climb from $209.3M in 2025Q4 suggests balance-sheet growth is currently outrunning any funding-cost pressure.
The 7.0% reading follows a -3.6% comparison in 2025Q4, so the acceleration appears to reflect base effects and volume expansion rather than a rate-cycle inflection, particularly with NIM unmoved at 1.0%. Quarterly growth has swung between -4.7% and +7.1% across ten periods, implying that loan and securities growth — not asset repricing — is doing most of the work in the top line.
NIM Holds at 1.0% Floor
HOMB's net interest margin has remained boxed inside a 0.9%–1.0% band for ten consecutive quarters, registering 1.0% in 2026Q3 per company filings; this persistence suggests earning-asset yields are moving broadly in lockstep with funding costs rather than generating any genuine spread expansion.
With NIM essentially pinned, the $26.8M of NII added since 2024Q3 appears to derive almost entirely from earning-asset growth, meaning further revenue gains hinge on balance-sheet expansion rather than spread capture. The move from 0.9% in 2025Q4 to 1.0% in 2026Q3 sits at the top of the historical range, but the absence of upward drift over two years suggests limited pricing power on either side of the book.
Provision Swing Masks Credit Run-Rate
Provision expense swung from $19.2M in 2024Q3 to a $91.9M credit in 2025Q3 before settling at zero in 2026Q3, per HOMB's income statement; this extreme volatility means the record $166.9M of operating income reflects reserve movements at least as much as current-period origination risk.
The $91.9M credit likely indicates a substantial reserve release, which mechanically flattered 2025Q3 net income of $123.6M and EPS growth of 26.0%. Two of the three most recent quarters showing $0–$0.5M of provisioning suggest management perceives little incremental risk, but near-zero reserves against an expanding earning-asset base warrants further investigation as a possible under-reserving posture rather than a structural credit improvement.
Fee Income Volatility Undermines Revenue Base
Non-interest income collapsed to negative $43.9M in 2025Q3, pulling total revenue down to $279.7M against a roughly $360M norm, before recovering to $46.4M in 2026Q3, as reported in HOMB's filings; the episode shows fee contributions remain episodic rather than reliably recurring.
Excluding the 2025Q3 anomaly, fee income has run between $37.0M and $50.5M, or 14.8%–19.4% of total revenue, leaving NII to carry roughly five-sixths of the top line. The recovery to a 16.1% fee mix in 2026Q3 is reassuring, yet the scale of the 2025Q3 negative print implies the fee line contains a mark-to-market component capable of overwhelming operating results within a single quarter.
Efficiency Ratio Normalizes Near 42%
The efficiency ratio has settled back to 42.1% in 2026Q3 after spiking to 68.7% in 2025Q3 on collapsed revenue, per HOMB's reported figures; the normalization appears driven by the denominator recovering rather than a step-change in expense discipline, since operating income reached a period high of $166.9M.
Outside the distorted quarter, efficiency has consistently held in a 41.7%–44.5% band, indicating the expense base scales sensibly with revenue; operating income rose 29% from $129.1M in 2024Q3 to $166.9M in 2026Q3 on just 2.5% total revenue growth. That apparent operating leverage is substantially a credit-cost artifact, so underlying expense productivity looks more modest than the headline gap implies.
Earnings Quality Leans on Reserve Release
Roughly half of the $37.8M operating income gain between 2024Q3 and 2026Q3 — about $19.2M — traces to the swing to zero provisioning, in HOMB's disclosed income statement; with EPS growth already decelerating to 3.2%, the durability of the $0.65 print hinges on credit costs staying near nil.
The base case rests on three simultaneous conditions: NIM showing no upward drift, provisioning at or below zero, and fees that produced a negative $43.9M within the last six quarters. If credit costs revert toward the 2024 run-rate of $4.5M–$19.2M per quarter while fee income stutters, reported EPS growth of 3.2% could turn negative without any deterioration in core lending economics.