Latest Ratios: P/E Ratio 13.4x · EV/EBITDA 15.3x · 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 | $914M | $919M | $965M | $963M | $1.2B | $1.4B | $1.0B | $1.3B | $1.1B | $1.0B | $1.0B |
| Enterprise Value | $1.3B | $1.3B | $1.6B | $1.3B | $1.6B | $1.7B | $2.1B | $2.3B | $1.9B | $2.0B | $3.2B |
| P/E Ratio → | 13.41 | 13.27 | 10.88 | 11.11 | 11.04 | 12.05 | 12.56 | 16.88 | 15.05 | 18.61 | 20.33 |
| P/S Ratio | 3.85 | 3.88 | 3.74 | 3.84 | 4.58 | 5.72 | 4.36 | 5.96 | 5.27 | 5.70 | 5.70 |
| P/B Ratio | 1.10 | 1.08 | 1.19 | 1.25 | 1.56 | 1.50 | 1.18 | 1.56 | 1.52 | 1.34 | 1.93 |
| P/FCF | 12.43 | 12.50 | 10.64 | 13.20 | 5.34 | 9.25 | 13.06 | 19.45 | 10.23 | 12.33 | 12.50 |
| P/OCF | 9.74 | 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 | 15.26 | 15.31 | 13.30 | 12.02 | 12.21 | 12.01 | 19.46 | 23.29 | 19.35 | 24.77 | 46.28 |
| EV / EBIT | 15.29 | 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 | 55.8% | 55.8% | 55.8% | 61.1% | 85.1% | 96.4% | 77.0% | 73.0% | 75.6% | 78.2% | 80.9% |
| Operating Margin | 19.7% | 19.7% | 23.5% | 25.6% | 40.7% | 49.3% | 33.2% | 31.1% | 31.4% | 31.9% | 29.1% |
| Net Profit Margin | 16.5% | 16.5% | 19.4% | 21.9% | 35.7% | 42.7% | 29.2% | 26.4% | 27.6% | 24.6% | 24.1% |
| 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 | 8.86 | 8.86 | 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 | 4.23 | 4.23 | 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 | — | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.04 |
| 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 | 4.7% | 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 | 7.5% | 7.5% | 9.2% | 9.0% | 9.1% | 8.3% | 8.0% | 5.9% | 6.6% | 5.4% | 4.9% |
| FCF Yield | 8.0% | 8.0% | 9.4% | 7.6% | 18.7% | 10.8% | 7.7% | 5.1% | 9.8% | 8.1% | 8.0% |
| Buyback Yield | 2.5% | 2.5% | 0.2% | 4.7% | 2.9% | 2.5% | 3.0% | 0.2% | 4.2% | 0.0% | 1.0% |
| Total Shareholder Yield | 7.2% | 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 13.4x. The historical average is 14.5x. This places it at the 57th percentile of its historical range.
Southside Bancshares, Inc.'s current EV/EBITDA is 15.3x. 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 13.4x. This is at the 57th 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 4.67% with a payout ratio of 62.7%.
Southside Bancshares, Inc. has 55.8% gross margin and 19.7% operating margin. Operating margin between 10-20% is typical for established companies.
Southside Bancshares, Inc.'s Debt/EBITDA ratio is 8.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Securities duration and deposit migration
Metrics are mathematically derived from official filings.
Discount for Bond-Heavy Balance Sheet
SBSI trades at 1.14x book and 14x trailing earnings, a discount to peers like FFIN at 2.56x book, reflecting market skepticism about its securities-heavy model and muted growth prospects.
The P/B of 1.14x is below the peer median of approximately 1.4x, suggesting the market assigns a lower multiple to SBSI's asset mix. With a forward P/E of 9.71x, the market appears to price in limited earnings growth, consistent with the negative revenue trend. The implied ROTCE from the current price is roughly 14%, below the reported 16.09% tangible return, indicating the market may be discounting future margin compression or credit deterioration.
Tangible Returns Mask GAAP Weakness
ROE of 3.1% in Q2 2026 is depressed by a 10% equity-to-assets ratio and thin NIM of 0.7%, yet ROTCE of 16.09% highlights the earnings power of the tangible base, per SBSI's reported figures.
The DuPont decomposition shows that SBSI's ROE is constrained by low leverage (equity-to-assets of 10%) and a narrow NIM, but the high ROTCE indicates that the tangible equity base is generating strong returns. The gap between ROE and ROTCE suggests significant intangibles, likely from acquisitions, which dilute GAAP returns. Fee income contributes only about 12% of revenue, limiting diversification, though the wealth management segment provides some stability.
NIM Stability Amid Revenue Decline
NIM held at 0.7% in Q2 2026, unchanged from prior quarters, while the efficiency ratio improved to 32.7% from 35.2% a year ago, per SBSI's financial statements, indicating cost discipline offsetting top-line pressure.
The stable NIM suggests that asset yields and funding costs are moving in tandem, but the -8.1% revenue growth indicates volume or fee pressures. The efficiency ratio improvement is notable, but it may reflect cost cuts rather than operating leverage from revenue growth. Investors should monitor whether the efficiency gains are sustainable as the bank invests in expansion markets like DFW and Austin.
Capital Ratios Solid, Tangible Leverage Low
Equity-to-assets ratio of 10% in Q2 2026, per SBSI's balance sheet, indicates a conservative capital position, but the low tangible leverage may limit ROE expansion and capital return capacity.
The 10% equity-to-assets ratio is above the regulatory minimum, providing a cushion for credit losses. However, the high proportion of intangibles reduces tangible capital, which could constrain buybacks or dividends if regulatory capital requirements tighten. The dividend yield of 4.5% is attractive, but sustainability depends on maintaining earnings and managing securities losses.
Benign Credit, But Securities Risk Looms
Provision for loan losses was minimal at $83K in Q2 2026, down from $622K a year earlier, per SBSI's income statement, indicating stable credit conditions, but the $7.7B securities portfolio may harbor unrealized losses.
The low provision suggests that credit quality remains solid, with no signs of stress in the loan book. However, the bank's heavy securities concentration exposes it to interest rate risk; unrealized losses in the AFS portfolio could pressure tangible book value and capital ratios if rates rise further. The minimal provision may not fully reflect potential credit deterioration in the commercial real estate portfolio as the bank expands into new markets.
P/E Misleads on Earnings Quality
The trailing P/E of 14x understates the bank's earnings volatility, as Q3 2025 saw a -67.8% fee income swing, per SBSI's quarterly data, making P/B a more reliable valuation metric.
P/E is commonly misapplied to banks because provisions and securities gains can distort net income. For SBSI, the Q3 2025 fee income collapse demonstrates this volatility, which is not captured in the trailing P/E. Investors should focus on P/TBV and ROTCE, which better reflect the underlying franchise value and capital efficiency. The current P/B of 1.14x suggests the market is pricing in a discount for the bond-heavy balance sheet, but the stable deposit franchise may warrant a premium.