Latest Ratios: P/E Ratio 10.3x · EV/EBITDA 7.8x · ROE 8.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.0B | $919M | $965M | $963M | $1.2B | $1.4B | $1.0B | $1.3B | $1.1B | $1.0B | $1.0B |
| Enterprise Value | $1.4B | $1.3B | $1.6B | $1.3B | $1.6B | $1.7B | $2.1B | $2.3B | $1.9B | $2.0B | $3.2B |
| P/E Ratio → | 10.29 | 13.27 | 10.88 | 11.11 | 11.04 | 12.05 | 12.56 | 16.88 | 15.05 | 18.61 | 20.33 |
| P/S Ratio | 3.66 | 3.88 | 3.74 | 3.84 | 4.58 | 5.72 | 4.36 | 5.96 | 5.27 | 5.70 | 5.70 |
| P/B Ratio | 1.22 | 1.08 | 1.19 | 1.25 | 1.56 | 1.50 | 1.18 | 1.56 | 1.52 | 1.34 | 1.93 |
| P/FCF | 6.56 | 12.50 | 10.64 | 13.20 | 5.34 | 9.25 | 13.06 | 19.45 | 10.23 | 12.33 | 12.50 |
| P/OCF | 10.81 | 9.79 | 9.47 | 12.06 | 5.12 | 8.76 | 11.41 | 15.62 | 9.11 | 11.03 | 11.56 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.35 | 6.08 | 5.35 | 6.30 | 7.15 | 8.67 | 11.01 | 8.99 | 11.25 | 18.10 |
| EV / EBITDA | 7.82 | 13.61 | 13.30 | 12.02 | 12.21 | 12.01 | 19.46 | 23.29 | 19.35 | 24.77 | 46.28 |
| EV / EBIT | 16.51 | 15.35 | 14.60 | 13.28 | 13.34 | 13.06 | 21.97 | 26.51 | 22.57 | 28.35 | 53.33 |
| EV / FCF | — | 17.27 | 17.29 | 18.41 | 7.35 | 11.56 | 25.98 | 35.95 | 17.47 | 24.33 | 39.69 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.7% | 98.7% | 98.7% | 96.4% | 98.7% | 107.1% | 91.5% | 97.6% | 96.0% | 97.4% | 94.4% |
| Operating Margin | 34.9% | 34.9% | 41.6% | 40.3% | 47.2% | 54.8% | 39.4% | 41.5% | 39.8% | 39.7% | 33.9% |
| Net Profit Margin | 29.2% | 29.2% | 34.3% | 34.6% | 41.5% | 47.5% | 34.7% | 35.3% | 35.0% | 30.6% | 28.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 8.3% | 11.2% | 11.4% | 12.7% | 12.7% | 9.8% | 9.7% | 10.0% | 8.5% | 10.3% |
| ROA | 0.8% | 0.8% | 1.1% | 1.1% | 1.4% | 1.6% | 1.2% | 1.2% | 1.2% | 0.9% | 0.9% |
| ROIC | 3.7% | 3.7% | 4.7% | 5.1% | 6.5% | 5.7% | 3.5% | 3.6% | 3.5% | 2.2% | 2.0% |
| ROCE | 5.5% | 5.5% | 6.1% | 6.5% | 8.3% | 7.2% | 4.6% | 4.8% | 4.6% | 4.5% | 5.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.87 | 0.87 | 1.20 | 1.16 | 0.74 | 0.59 | 1.29 | 1.49 | 1.25 | 1.56 | 4.52 |
| Debt / EBITDA | 7.87 | 7.87 | 8.29 | 8.00 | 4.21 | 3.82 | 10.70 | 12.00 | 9.30 | 14.58 | 34.06 |
| Net Debt / Equity | — | 0.41 | 0.74 | 0.49 | 0.58 | 0.37 | 1.17 | 1.33 | 1.08 | 1.31 | 4.21 |
| Net Debt / EBITDA | 3.75 | 3.75 | 5.12 | 3.40 | 3.33 | 2.40 | 9.68 | 10.69 | 8.01 | 12.22 | 31.71 |
| Debt / FCF | — | 4.76 | 6.65 | 5.20 | 2.00 | 2.31 | 12.92 | 16.50 | 7.23 | 12.00 | 27.19 |
| Interest Coverage | 0.45 | 0.45 | 0.54 | 0.70 | 2.94 | 4.95 | 2.10 | 1.24 | 1.48 | 1.62 | 2.03 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.23 | 0.23 | 0.23 | 0.28 | 0.24 | 0.53 | 0.55 | 0.53 | 0.48 | 0.39 | 0.38 |
| Quick Ratio | 0.23 | 0.23 | 0.23 | 0.28 | 0.24 | 0.53 | 0.55 | 0.53 | 0.48 | 0.39 | 0.38 |
| Cash Ratio | 0.05 | 0.05 | 0.06 | 0.08 | 0.02 | 0.04 | 0.02 | 0.03 | 0.03 | 0.04 | 0.04 |
| Asset Turnover | — | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.2% | 4.7% | 4.5% | 4.5% | 3.9% | 3.3% | 4.2% | 3.4% | 3.8% | 3.2% | 2.6% |
| Payout Ratio | 62.7% | 62.7% | 49.3% | 50.3% | 42.8% | 39.3% | 52.6% | 57.0% | 56.6% | 59.3% | 52.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.7% | 7.5% | 9.2% | 9.0% | 9.1% | 8.3% | 8.0% | 5.9% | 6.6% | 5.4% | 4.9% |
| FCF Yield | 15.2% | 8.0% | 9.4% | 7.6% | 18.7% | 10.8% | 7.7% | 5.1% | 9.8% | 8.1% | 8.0% |
| Buyback Yield | 2.3% | 2.5% | 0.2% | 4.7% | 2.9% | 2.5% | 3.0% | 0.2% | 4.2% | 0.0% | 1.0% |
| Total Shareholder Yield | 6.5% | 7.2% | 4.7% | 9.2% | 6.8% | 5.8% | 7.2% | 3.6% | 8.0% | 3.2% | 3.6% |
| Shares Outstanding | — | $30M | $30M | $31M | $32M | $33M | $33M | $34M | $35M | $30M | $27M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SBSI stock.
Southside Bancshares, Inc.'s current P/E ratio is 10.3x. The historical average is 14.5x. This places it at the 18th percentile of its historical range.
Southside Bancshares, Inc.'s current EV/EBITDA is 7.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.9x.
Southside Bancshares, Inc.'s return on equity (ROE) is 8.3%. The historical average is 13.9%.
Based on historical data, Southside Bancshares, Inc. is trading at a P/E of 10.3x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Southside Bancshares, Inc.'s current dividend yield is 4.21% with a payout ratio of 62.7%.
Southside Bancshares, Inc. has 98.7% gross margin and 34.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Southside Bancshares, Inc.'s Debt/EBITDA ratio is 7.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Securities repricing and margin pressure
Metrics are mathematically derived from official filings.
ROE Recovery Driven by Efficiency
Based on SBSI's reported figures, ROE recovered from 0.6% in 2025Q3 to 3.2% in 2026Q3, but NIM of roughly 0.7% and a 0.10 equity-to-assets ratio show the return is driven more by leverage and cost control than by spread income.
The DuPont decomposition shows a very thin net interest margin offset by a balance sheet that is large relative to equity, which is the mechanical source of whatever ROE the bank produces. The 2025Q3 collapse coincided with a $45.9M provision and negative fee income, confirming how sensitive reported earnings are to a single credit event. Investors should monitor whether the ROE recovery persists without a repeat of such charges, since the current level remains modest for a bank of this size.
Discount to Book Reflects Earnings Quality
At a P/B of 1.22 and P/E of 14.88 versus a forward P/E of 9.81, the market appears to price SBSI as a commodity securities-heavy balance sheet rather than a premium franchise, based on reported multiples.
The gap between trailing and forward P/E suggests the market expects earnings to rise, but the bank's tangible book value of roughly $21 per share against a $34 share price implies the valuation depends on sustained returns above reported levels. Peer P/B ratios of 1.29 to 2.28 place SBSI near the low end of the group, which is consistent with lower ROE and a securities-heavy mix. This warrants further investigation into whether the discount is structural or temporary.
Thin Margin Offset by Cost Discipline
SBSI's efficiency ratio improved from 59.7% in 2025Q4 to 52.7% in 2026Q3, and according to the supplied quarterly data, NIM has held near 0.7%, indicating cost control is doing the work that spread income cannot.
A near-0.7% NIM is structurally low, leaving little room for compression from securities repricing, which the prior balance sheet analysis flagged. The efficiency ratio improvement suggests tighter operating discipline against a revenue base that has declined 8.1% year over year. Whether this cost progress can offset further margin pressure appears to be the central question for earnings durability.
Thin Equity Against Securities Exposure
With equity-to-assets near 0.10 and a securities book of roughly $7.8B against $843M of equity, SBSI's capacity to absorb unrealized losses appears limited based on reported figures.
The reported ratio suggests that even modest AOCI losses in the available-for-sale portfolio could meaningfully erode tangible equity without flowing through net income. The gap between a 16.09% return on average tangible common equity and an 8.3% reported ROE points to significant intangible capital that reduces the loss-absorbing base. Investors should monitor regulatory capital ratios directly, as they were not supplied in the data.
Episodic Credit Costs Warrant Monitoring
Based on SBSI's reported figures, provisions spiked to $45.9M in 2025Q3 before falling to $747K in 2026Q3, a pattern that suggests credit costs have been episodic rather than steady.
The single large provision contrasts sharply with the otherwise benign quarterly figures, which indicates that reserve adequacy depends heavily on how a few loans are classified. Non-performing loan and charge-off data were not supplied, so reserve coverage cannot be assessed directly. The pattern warrants further investigation before concluding credit risk is contained.
P/E Misleads on Provision Volatility
The trailing P/E of 14.88 is the ratio most commonly misapplied to SBSI, because a single quarter's provision of $45.9M distorted earnings and can make the multiple appear to swing sharply, based on reported figures.
Trailing P/E obscures the normalized earnings base that investors should value, since provisions are episodic and the 2025Q3 charge is not representative of run-rate profitability. Price to tangible book, adjusted for AOCI, would better reflect what shareholders own, though the unrealized securities position was not supplied and cannot be quantified here. Investors should consider a normalized earnings estimate excluding provision outliers alongside P/TBV.