Operating cash flow remains volatile, evidenced by a significant $4.0 million outflow in 2024Q2, despite the bank's commitment to maintaining quarterly dividends near $485,000.
| Metric | 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 |
|---|
| Cash from Operations | 7.16M | 2.93M | 6.89M | 10.05M | 19.07M | -484K | 11.06M | 10.32M | 6.82M | 7.15M | 3.75M | 6.8M | 7.77M | 10.21M | 7.23M | 6.78M | 177.27K | 812.33K | 3.79M |
| Operating CF Growth % | 144.24% | -57.42% | -31.51% | -47.29% | 4040.7% | -104.37% | 7.15% | 51.3% | -4.53% | 90.56% | -44.86% | -12.4% | -23.93% | 41.16% | 6.64% | 3725.87% | -78.18% | -78.55% | - |
| Net Income | 7.16M | 4.64M | 7.44M | 8.8M | 9.16M | 8.94M | 6.68M | 7.04M | 5.13M | 5.38M | 4.79M | 4.24M | 3.94M | 2.64M | 1.55M | 1.33M | -613.8K | 261.57K | 319.14K |
| Depreciation & Amortization | 1.1M | 1.58M | 1.65M | 1.6M | 1.59M | 1.82M | 1.52M | 989K | 943K | 793K | 620K | 1.34M | 1.47M | 1.46M | 1.25M | 1.38M | 0 | 0 | 0 |
| Deferred Taxes | 70K | -123K | -403K | -469K | 155K | 218K | 349K | 123K | 103K | -23K | -359K | -137K | 390K | 162K | 215K | -273K | 0 | 0 | 0 |
| Other Non-Cash Items | -1.7M | -1.62M | -1.91M | 1.96M | 8.14M | -11.22M | -631K | 937K | -506K | 1.05M | -1.11M | -621K | 2.21M | 4.22M | 4.5M | 5.87M | -408.6K | 1.27M | 326.93K |
| Working Capital Changes | 230K | -1.94M | -346K | -2.31M | -329K | -580K | 2.88M | 964K | 636K | -578K | -612K | 1.64M | -416K | 1.56M | -420K | -1.66M | 1.2M | -714.87K | 3.14M |
| Cash from Investing | -2.5M | -3.94M | -26.32M | -183.79M | -78.11M | 4.5M | -5.79M | -71.5M | -36.11M | -42.9M | -25.63M | -38.9M | -61.52M | -51.77M | -4.61M | -9.14M | -577.2K | -58.45M | -18.99M |
| Purchase of Investments | 0 | 0 | 0 | -6.61M | -1.95M | -8.89M | -5.17M | 0 | 0 | -1.36M | 0 | 0 | -1.91M | -23.98M | 0 | -5.83M | -35.17M | 0 | 0 |
| Sale/Maturity of Investments | 238K | 420K | 2.08M | 999K | 3.53M | 7.91M | 845K | 416K | 1.21M | 1.28M | 4.67M | 4.18M | 9.17M | 3.85M | 1.53M | 11.75M | 34.21M | 678.82K | 94.9K |
| Net Investment Activity | 238K | 420K | 2.08M | -5.61M | 1.58M | -980K | -4.32M | 416K | 1.21M | -81K | 4.67M | 4.18M | 7.26M | -20.13M | 1.53M | 5.92M | -955K | 678.82K | 94.9K |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.67M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31.73M | 0 | 0 |
| Other Investing | -2.74M | -4.29M | -27.96M | -177.78M | -79.46M | 5.88M | -811K | -71.27M | -48.52M | -41.81M | -29.18M | -39.11M | -68.43M | -31.38M | -5.95M | -14.81M | -28.88M | -46.81M | -18.68M |
| Cash from Financing | 90.15M | -5.04M | 11.29M | 47.98M | 48.8M | 134.05M | -11.32M | 62.3M | 35.39M | 42.07M | 40.85M | 46.05M | 56.36M | 37.26M | 5.31M | -4.23M | 10.47M | 57.14M | 15.66M |
| Dividends Paid | -1.95M | -1.95M | -1.91M | -2.03M | -2.04M | -2.07M | -1.43M | -1.37M | -1.5M | -745K | -574K | -504K | -388K | 0 | 0 | -26K | -159.19K | -159.19K | 0 |
| Share Repurchases | -130K | -283K | -2.4M | -1.87M | -152K | -73K | 0 | 0 | 0 | 0 | -1.26M | -904K | -1.2M | 0 | 0 | 0 | -306.13K | 0 | 0 |
| Stock Issued | 151K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.66M | 0 | 0 | 0 | 10.81M | 0 |
| Net Stock Activity | 21K | -283K | -2.4M | -1.87M | -152K | -73K | 0 | 0 | 0 | 0 | -1.26M | -904K | -1.2M | 12.66M | 0 | 0 | -306.13K | 10.81M | 0 |
| Debt Issuance (Net) | -1000K | -1000K | -1000K | 1000K | 0 | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | -1000K |
| Other Financing | 110.95M | 12.2M | 18.61M | 8.88M | 50.99M | 131.83M | 66.62M | 38.67M | 32.91M | 28.46M | 32.83M | 60.1M | 36.59M | 11.25M | 21.66M | -9.05M | 33.16M | 20.14M | 21.82M |
| Net Change in Cash | 94.81M | -6.05M | -8.15M | -125.75M | -10.24M | 138.06M | -6.04M | 1.13M | 6.1M | 6.32M | 18.98M | 13.96M | 2.61M | -4.3M | 7.94M | -6.59M | 0 | 0 | 0 |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 43.64M | 49.69M | 57.84M | 183.59M | 193.83M | 55.77M | 61.81M | 60.68M | 54.58M | 48.26M | 29.29M | 15.33M | 12.73M | 17.03M | 9.09M | 15.68M | 0 | 0 | 0 |
| Cash at End | 138.45M | 43.64M | 49.69M | 57.84M | 183.59M | 193.83M | 55.77M | 61.81M | 60.68M | 54.58M | 48.26M | 29.29M | 15.33M | 12.73M | 17.03M | 9.09M | 0 | 0 | 0 |
| Interest Paid | 22.72M | 26.42M | 16.34M | 4.3M | 4.12M | 7.31M | 7.53M | 5.3M | 3.36M | 2.92M | 2.76M | 2.43M | 2.31M | 2.36M | 2.82M | 4.33M | 0 | 0 | 0 |
| Income Taxes Paid | 1.93M | 831K | 2.4M | 2.01M | 2.9M | 1.96M | 915K | 2.67M | 2.46M | 3.04M | 2.86M | 1.98M | 1.35M | 950K | 780K | 825K | 0 | 0 | 0 |
| Free Cash Flow | 6.99M | 2.86M | 6.44M | 9.66M | 18.85M | -891K | 10.41M | 9.68M | 4.35M | 6.14M | 2.64M | 2.83M | 7.42M | 9.94M | 7.04M | 6.53M | -2.29M | -11.51M | 3.38M |
| FCF Growth % | 144.78% | -55.67% | -33.28% | -48.77% | 2215.38% | -108.56% | 7.49% | 122.62% | -29.16% | 132.7% | -6.78% | -61.86% | -25.35% | 41.15% | 7.89% | 384.75% | 80.07% | -440.36% | - |
Niche collateral liquidity constraints
As reported in recent financial statements, Sound Financial Bancorp consistently generated positive net income, peaking at $2.2 million in 2025Q4, which provides a stable foundation for capital retention despite the inherent volatility observed in the bank's quarterly operating cash flow metrics over the last ten periods.
The bank's ability to maintain positive net income suggests a resilient core earnings power, even as operating cash flow figures fluctuate significantly due to the timing of loan originations and deposit movements. Investors should monitor whether this consistent earnings generation remains sufficient to support regulatory capital buffers as the bank navigates its specialized, higher-risk lending niches.
Based on historical cash flow data, SFBC has maintained a remarkably consistent quarterly dividend payout of approximately $485,000 to $489,000, demonstrating a commitment to shareholder returns that appears decoupled from the significant quarterly volatility in operating cash flows and the cessation of share buybacks since 2024Q4.
The stability of the dividend suggests management prioritizes income-seeking shareholders, yet the absence of recent buybacks may indicate a strategic shift toward preserving capital for potential loan growth or balance sheet fortification. This approach warrants further investigation into whether the current payout ratio remains sustainable if the bank's net interest margin continues to face compression.
According to the bank's reported figures, the provision for credit losses has exhibited notable swings, ranging from a $203,000 release in 2025Q1 to a $170,000 charge in 2025Q2, which highlights the inherent difficulty in managing credit risk within the bank's specialized floating home and manufactured housing loan portfolio.
These fluctuations in provisioning suggest that management is actively adjusting its outlook based on the unique collateral performance of its niche assets. Analysts should interpret these shifts as a reflection of the bank's conservative approach to credit quality, though the volatility may mask underlying trends in asset quality that are not immediately apparent in the headline cash flow data.
As indicated by the provided financial data, the bank's operating cash flow frequently diverges from net income, with a notable negative $4.0 million outflow in 2024Q2, suggesting that the cash flow statement provides an incomplete picture of the bank's true liquidity and underlying balance sheet health.
The disconnect between net income and operating cash flow is typical for a depository institution, as loan originations and deposit flows are the primary drivers of liquidity rather than traditional operating activities. Investors should focus on the balance sheet's loan-to-deposit ratio and capital adequacy metrics rather than the cash flow statement to assess the bank's true financial position.
Quick answers to the most common questions about buying SFBC stock.
Sound Financial Bancorp, Inc. (SFBC) generated $7.2M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Sound Financial Bancorp, Inc. (SFBC) generated $7.0M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Sound Financial Bancorp, Inc. (SFBC) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Sound Financial Bancorp, Inc. (SFBC) returned $1.9M to shareholders via cash dividends and spent $0.1M on share repurchases. This shows the company's commitment to returning capital to its equity investors.