1st Source Corporation (SRCE) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
9.64
+9% vs avg
5yr avg: 8.81
30Y Low6.5·High15.1
P/FCF
↓
8.41
+12% vs avg
5yr avg: 7.52
30Y Low2.3·High27.1
P/B Ratio
↓
1.36
+8% vs avg
5yr avg: 1.27
30Y Low0.7·High3.1
ROE
↑
12.7%
↓+2% vs avg
5yr avg: 12.4%
30Y Low3%·High14%
Debt/EBITDA
↓
1.59
↓-12% vs avg
5yr avg: 1.81
30Y Low1.6·High7.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SRCE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
1st Source Corporation trades at 11.4x earnings, 8% above its 5-year average of 10.6x, sitting at the 23rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.1x, the stock trades at a discount of 13%. On a free-cash-flow basis, the stock trades at 8.4x P/FCF, 12% above the 5-year average of 7.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $1.5B | $1.4B | $1.4B | $1.3B | $1.2B | $1.0B | $1.3B | $1.0B | $1.3B | $1.2B |
| Enterprise Value | $2.1B | $1.8B | $1.7B | $1.7B | $1.5B | $1.5B | $1.2B | $1.5B | $1.3B | $1.5B | $1.5B |
| P/E Ratio → | 11.40 | 9.67 | 10.89 | 10.92 | 10.97 | 10.55 | 12.71 | 14.53 | 12.77 | 19.02 | 20.12 |
| P/S Ratio | 2.99 | 2.54 | 2.51 | 2.67 | 3.40 | 3.50 | 2.80 | 3.46 | 2.95 | 4.12 | 4.12 |
| P/B Ratio | 1.36 | 1.16 | 1.21 | 1.27 | 1.42 | 1.28 | 1.11 | 1.57 | 1.37 | 1.78 | 1.72 |
| P/FCF | 8.41 | 7.15 | 7.88 | 7.43 | 7.57 | 7.58 | 6.78 | 8.62 | 7.72 | 14.53 | 19.58 |
| P/OCF | 8.03 | 6.83 | 7.37 | 7.20 | 7.47 | 7.45 | 6.66 | 8.07 | 6.55 | 9.18 | 11.79 |
P/E links to full P/E history page with 30-year chart
SRCE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
1st Source Corporation's enterprise value stands at 9.6x EBITDA, 9% above its 5-year average of 8.8x. The Financial Services sector median is 11.5x, placing the stock at a 16% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.99 | 2.94 | 3.30 | 3.97 | 4.22 | 3.34 | 3.96 | 3.57 | 4.93 | 5.42 |
| EV / EBITDA | 9.64 | 8.39 | 9.15 | 9.44 | 8.69 | 8.37 | 8.92 | 9.77 | 9.17 | 11.50 | 12.95 |
| EV / EBIT | 10.06 | 8.76 | 9.81 | 10.34 | 9.75 | 9.66 | 11.52 | 12.64 | 12.04 | 15.12 | 17.08 |
| EV / FCF | — | 8.43 | 9.25 | 9.19 | 8.83 | 9.13 | 8.08 | 9.86 | 9.33 | 17.37 | 25.79 |
SRCE Profitability
Margins and return-on-capital ratios measuring operating efficiency
1st Source Corporation earns an operating margin of 34.2%, above the Financial Services sector average of 21.6%. Operating margins have expanded from 31.9% to 34.2% over the past 3 years, signaling improving operational efficiency. ROE of 12.7% is modest. ROIC of 9.7% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
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 | 70.3% | 70.3% | 65.7% | 71.6% | 88.7% | 96.1% | 80.0% | 80.5% | 82.3% | 88.5% | 90.0% |
| Operating Margin | 34.2% | 34.2% | 30.0% | 31.9% | 40.7% | 43.6% | 29.0% | 31.3% | 29.6% | 32.6% | 31.8% |
| Net Profit Margin | 26.4% | 26.4% | 23.3% | 24.6% | 31.3% | 33.4% | 22.2% | 23.9% | 23.3% | 21.9% | 20.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.7% | 12.7% | 11.8% | 12.5% | 12.7% | 12.5% | 9.2% | 11.4% | 11.1% | 9.8% | 8.8% |
| ROA | 1.8% | 1.8% | 1.5% | 1.5% | 1.5% | 1.5% | 1.2% | 1.4% | 1.4% | 1.2% | 1.1% |
| ROIC | 9.7% | 9.7% | 8.6% | 9.0% | 9.4% | 9.4% | 6.9% | 8.3% | 7.4% | 7.1% | 6.4% |
| ROCE | 4.0% | 4.0% | 12.1% | 13.4% | 14.7% | 14.3% | 10.4% | 12.8% | 12.1% | 12.3% | 11.4% |
SRCE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
1st Source Corporation carries a Debt/EBITDA ratio of 1.6x, which is manageable (62% below the sector average of 4.1x). Net debt stands at $271M ($341M total debt minus $69M cash). Interest coverage of just 1.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.28 | 0.37 | 0.33 | 0.32 | 0.29 | 0.30 | 0.41 | 0.45 | 0.63 |
| Debt / EBITDA | 1.59 | 1.59 | 1.77 | 2.24 | 1.72 | 1.73 | 1.97 | 1.66 | 2.27 | 2.43 | 3.62 |
| Net Debt / Equity | — | 0.21 | 0.21 | 0.30 | 0.24 | 0.26 | 0.21 | 0.23 | 0.29 | 0.35 | 0.54 |
| Net Debt / EBITDA | 1.27 | 1.27 | 1.35 | 1.81 | 1.24 | 1.43 | 1.43 | 1.23 | 1.58 | 1.88 | 3.12 |
| Debt / FCF | — | 1.27 | 1.37 | 1.76 | 1.26 | 1.56 | 1.30 | 1.24 | 1.61 | 2.84 | 6.21 |
| Interest Coverage | 1.23 | 1.23 | 0.93 | 1.17 | 5.17 | 8.54 | 2.86 | 2.04 | 2.42 | 3.79 | 4.03 |
SRCE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
1st Source Corporation's current ratio of 12.62x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.23x to 12.62x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.62 | 12.62 | 0.14 | 0.23 | 0.31 | 0.31 | 0.25 | 0.24 | 0.23 | 0.22 | 0.22 |
| Quick Ratio | 12.62 | 12.62 | 0.14 | 0.23 | 0.31 | 0.31 | 0.25 | 0.24 | 0.23 | 0.22 | 0.22 |
| Cash Ratio | 0.55 | 0.55 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 |
| Asset Turnover | — | 0.07 | 0.06 | 0.06 | 0.05 | 0.04 | 0.05 | 0.06 | 0.06 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
SRCE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
1st Source Corporation returns 2.9% to shareholders annually — split between a 2.1% dividend yield and 0.8% buyback yield. The payout ratio of 24.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 8.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 2.1% | 2.5% | 2.5% | 2.4% | 2.4% | 2.5% | 2.9% | 2.2% | 2.5% | 1.6% | 1.7% |
| Payout Ratio | 24.3% | 24.3% | 26.7% | 26.5% | 26.6% | 26.4% | 36.5% | 31.6% | 31.2% | 30.0% | 33.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.8% | 10.3% | 9.2% | 9.2% | 9.1% | 9.5% | 7.9% | 6.9% | 7.8% | 5.3% | 5.0% |
| FCF Yield | 11.9% | 14.0% | 12.7% | 13.5% | 13.2% | 13.2% | 14.7% | 11.6% | 13.0% | 6.9% | 5.1% |
| Buyback Yield | 0.8% | 0.9% | 0.0% | 0.9% | 0.5% | 2.7% | 0.6% | 1.1% | 0.9% | 0.0% | 0.7% |
| Total Shareholder Yield | 2.9% | 3.4% | 2.5% | 3.4% | 3.0% | 5.2% | 3.5% | 3.3% | 3.3% | 1.6% | 2.4% |
| Shares Outstanding | — | $24M | $24M | $25M | $25M | $25M | $26M | $26M | $26M | $26M | $26M |
Peer Comparison
Compare SRCE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SRCEYou | $2B | 11.4 | 9.6 | 8.4 | 70.3% | 34.2% | 12.7% | 9.7% | 1.6 |
 FFIN | $5B | 20.8 | 14.2 | 15.7 | 70.8% | 36.8% | 14.4% | 11.0% | 0.7 |
 FULT | $4B | 10.3 | 9.7 | 14.5 | 67.4% | 25.7% | 11.7% | 7.5% | 2.5 |
 IBCP | $699M | 10.4 | 9.4 | 10.0 | 69.6% | 25.8% | 14.3% | 10.2% | 1.4 |
 NBTB | $2B | 13.5 | 10.4 | 10.7 | 72.1% | 25.3% | 9.9% | 7.9% | 1.4 |
 MBWM | $898M | 9.5 | 11.7 | 80.2 | 64.0% | 27.5% | 13.6% | 5.5% | 7.8 |
 UVSP | $1B | 12.2 | 7.5 | 11.3 | 61.0% | 21.9% | 9.9% | 6.5% | 2.9 |
 HBAN | $26B | 11.6 | 15.7 | 11.2 | 61.7% | 21.5% | 10.0% | 5.1% | 6.9 |
 ONB | $9B | 13.5 | 15.3 | 14.7 | 63.6% | 23.6% | 9.0% | 4.7% | 7.6 |
 FBNC | $2B | 22.1 | 15.4 | 12.3 | 70.1% | 26.6% | 7.2% | 6.8% | 0.5 |
 SFNC | $3B | -7.2 | — | 6.9 | 5.8% | -84.2% | -11.4% | -9.1% | — |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonSRCE — Frequently Asked Questions
Quick answers to the most common questions about buying SRCE stock.
What is 1st Source Corporation's P/E ratio?
1st Source Corporation's current P/E ratio is 11.4x. The historical average is 16.1x. This places it at the 23th percentile of its historical range.
What is 1st Source Corporation's EV/EBITDA?
1st Source Corporation's current EV/EBITDA is 9.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
What is 1st Source Corporation's ROE?
1st Source Corporation's return on equity (ROE) is 12.7%. The historical average is 10.2%.
Is SRCE stock overvalued?
Based on historical data, 1st Source Corporation is trading at a P/E of 11.4x. This is at the 23th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is 1st Source Corporation's dividend yield?
1st Source Corporation's current dividend yield is 2.14% with a payout ratio of 24.3%.
What are 1st Source Corporation's profit margins?
1st Source Corporation has 70.3% gross margin and 34.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does 1st Source Corporation have?
1st Source Corporation's Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.