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SOUTHSTATE CORP (SSB) Stock Fundamental Analysis

NYSE:SSB - New York Stock Exchange, Inc. - US8404411097 - Common Stock - Currency: USD

92.22  +0.44 (+0.48%)

After market: 92.22 0 (0%)

Fundamental Rating

4

Overall SSB gets a fundamental rating of 4 out of 10. We evaluated SSB against 392 industry peers in the Banks industry. Both the profitability and financial health of SSB have multiple concerns. SSB is not overvalued while it is showing excellent growth. This is an interesting combination.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

SSB had positive earnings in the past year.
In the past year SSB had a positive cash flow from operations.
SSB had positive earnings in each of the past 5 years.
Each year in the past 5 years SSB had a positive operating cash flow.
SSB Yearly Net Income VS EBIT VS OCF VS FCFSSB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

1.2 Ratios

With a Return On Assets value of 0.78%, SSB perfoms like the industry average, outperforming 45.15% of the companies in the same industry.
SSB has a worse Return On Equity (5.90%) than 70.66% of its industry peers.
Industry RankSector Rank
ROA 0.78%
ROE 5.9%
ROIC N/A
ROA(3y)1.13%
ROA(5y)0.97%
ROE(3y)9.26%
ROE(5y)8.06%
ROIC(3y)N/A
ROIC(5y)N/A
SSB Yearly ROA, ROE, ROICSSB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

The Profit Margin of SSB (26.32%) is better than 67.09% of its industry peers.
In the last couple of years the Profit Margin of SSB has grown nicely.
The Operating Margin and Gross Margin are not available for SSB so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 26.32%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-3.15%
PM growth 5Y1.58%
GM growth 3YN/A
GM growth 5YN/A
SSB Yearly Profit, Operating, Gross MarginsSSB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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1

2. Health

2.1 Basic Checks

SSB does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for SSB has been increased compared to 1 year ago.
Compared to 5 years ago, SSB has more shares outstanding
Compared to 1 year ago, SSB has an improved debt to assets ratio.
SSB Yearly Shares OutstandingSSB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
SSB Yearly Total Debt VS Total AssetsSSB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.2 Solvency

SSB has a debt to FCF ratio of 22.06. This is a negative value and a sign of low solvency as SSB would need 22.06 years to pay back of all of its debts.
With a Debt to FCF ratio value of 22.06, SSB is not doing good in the industry: 82.14% of the companies in the same industry are doing better.
SSB has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
SSB has a Debt to Equity ratio (0.17) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 22.06
Altman-Z N/A
ROIC/WACCN/A
WACC13.63%
SSB Yearly LT Debt VS Equity VS FCFSSB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
SSB Yearly Current Assets VS Current LiabilitesSSB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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3. Growth

3.1 Past

SSB shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 24.32%, which is quite impressive.
The Earnings Per Share has been growing slightly by 5.04% on average over the past years.
SSB shows a strong growth in Revenue. In the last year, the Revenue has grown by 28.61%.
Measured over the past years, SSB shows a very strong growth in Revenue. The Revenue has been growing by 21.53% on average per year.
EPS 1Y (TTM)24.32%
EPS 3Y-1.66%
EPS 5Y5.04%
EPS Q2Q%28.49%
Revenue 1Y (TTM)28.61%
Revenue growth 3Y7.38%
Revenue growth 5Y21.53%
Sales Q2Q%56.24%

3.2 Future

SSB is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.21% yearly.
The Revenue is expected to grow by 19.61% on average over the next years. This is quite good.
EPS Next Y19.78%
EPS Next 2Y13.94%
EPS Next 3Y13.21%
EPS Next 5YN/A
Revenue Next Year53.43%
Revenue Next 2Y27.11%
Revenue Next 3Y19.61%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
SSB Yearly Revenue VS EstimatesSSB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B 2.5B
SSB Yearly EPS VS EstimatesSSB Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6 8 10

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 11.14, the valuation of SSB can be described as reasonable.
SSB's Price/Earnings is on the same level as the industry average.
The average S&P500 Price/Earnings ratio is at 26.48. SSB is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 9.87, which indicates a very decent valuation of SSB.
Compared to the rest of the industry, the Price/Forward Earnings ratio of SSB is on the same level as its industry peers.
SSB is valuated cheaply when we compare the Price/Forward Earnings ratio to 34.04, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.14
Fwd PE 9.87
SSB Price Earnings VS Forward Price EarningsSSB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of SSB indicates a rather expensive valuation: SSB more expensive than 84.44% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 144.18
EV/EBITDA N/A
SSB Per share dataSSB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

SSB's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as SSB's earnings are expected to grow with 13.21% in the coming years.
PEG (NY)0.56
PEG (5Y)2.21
EPS Next 2Y13.94%
EPS Next 3Y13.21%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.55%, SSB has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.50, SSB has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, SSB has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.55%

5.2 History

The dividend of SSB has a limited annual growth rate of 5.34%.
SSB has paid a dividend for at least 10 years, which is a reliable track record.
SSB has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)5.34%
Div Incr Years13
Div Non Decr Years27
SSB Yearly Dividends per shareSSB Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

34.98% of the earnings are spent on dividend by SSB. This is a low number and sustainable payout ratio.
SSB's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP34.98%
EPS Next 2Y13.94%
EPS Next 3Y13.21%
SSB Yearly Income VS Free CF VS DividendSSB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
SSB Dividend Payout.SSB Dividend Payout, showing the Payout Ratio.SSB Dividend Payout.PayoutRetained Earnings

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SOUTHSTATE CORP

NYSE:SSB (8/8/2025, 7:10:25 PM)

After market: 92.22 0 (0%)

92.22

+0.44 (+0.48%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)07-24 2025-07-24/dmh
Earnings (Next)10-21 2025-10-21/amc
Inst Owners88.87%
Inst Owner Change-0.31%
Ins Owners0.98%
Ins Owner Change2.03%
Market Cap9.36B
Analysts82.5
Price Target115.43 (25.17%)
Short Float %3.54%
Short Ratio2.97
Dividend
Industry RankSector Rank
Dividend Yield 2.55%
Yearly Dividend2.14
Dividend Growth(5Y)5.34%
DP34.98%
Div Incr Years13
Div Non Decr Years27
Ex-Date08-08 2025-08-08 (0.6)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)24.78%
Min EPS beat(2)11.85%
Max EPS beat(2)37.71%
EPS beat(4)4
Avg EPS beat(4)19.8%
Min EPS beat(4)11.85%
Max EPS beat(4)37.71%
EPS beat(8)6
Avg EPS beat(8)9.24%
EPS beat(12)8
Avg EPS beat(12)5.95%
EPS beat(16)12
Avg EPS beat(16)9.07%
Revenue beat(2)2
Avg Revenue beat(2)2.3%
Min Revenue beat(2)1.99%
Max Revenue beat(2)2.6%
Revenue beat(4)3
Avg Revenue beat(4)0.92%
Min Revenue beat(4)-1.66%
Max Revenue beat(4)2.6%
Revenue beat(8)4
Avg Revenue beat(8)0.19%
Revenue beat(12)8
Avg Revenue beat(12)0.64%
Revenue beat(16)9
Avg Revenue beat(16)-0.14%
PT rev (1m)0.44%
PT rev (3m)-4.18%
EPS NQ rev (1m)0.01%
EPS NQ rev (3m)2.33%
EPS NY rev (1m)0.09%
EPS NY rev (3m)10.41%
Revenue NQ rev (1m)0.03%
Revenue NQ rev (3m)0.78%
Revenue NY rev (1m)0.46%
Revenue NY rev (3m)2.05%
Valuation
Industry RankSector Rank
PE 11.14
Fwd PE 9.87
P/S 4.84
P/FCF 144.18
P/OCF 86.64
P/B 1.09
P/tB 1.87
EV/EBITDA N/A
EPS(TTM)8.28
EY8.98%
EPS(NY)9.35
Fwd EY10.14%
FCF(TTM)0.64
FCFY0.69%
OCF(TTM)1.06
OCFY1.15%
SpS19.04
BVpS84.97
TBVpS49.19
PEG (NY)0.56
PEG (5Y)2.21
Profitability
Industry RankSector Rank
ROA 0.78%
ROE 5.9%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.32%
GM N/A
FCFM 3.36%
ROA(3y)1.13%
ROA(5y)0.97%
ROE(3y)9.26%
ROE(5y)8.06%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-3.15%
PM growth 5Y1.58%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 22.06
Debt/EBITDA N/A
Cap/Depr 55.36%
Cap/Sales 2.23%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 12.76%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC13.63%
ROIC/WACCN/A
Cap/Depr(3y)52.22%
Cap/Depr(5y)47.62%
Cap/Sales(3y)1.8%
Cap/Sales(5y)1.79%
Profit Quality(3y)179.06%
Profit Quality(5y)209.96%
High Growth Momentum
Growth
EPS 1Y (TTM)24.32%
EPS 3Y-1.66%
EPS 5Y5.04%
EPS Q2Q%28.49%
EPS Next Y19.78%
EPS Next 2Y13.94%
EPS Next 3Y13.21%
EPS Next 5YN/A
Revenue 1Y (TTM)28.61%
Revenue growth 3Y7.38%
Revenue growth 5Y21.53%
Sales Q2Q%56.24%
Revenue Next Year53.43%
Revenue Next 2Y27.11%
Revenue Next 3Y19.61%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-94.55%
FCF growth 3Y7.13%
FCF growth 5Y23.58%
OCF growth 1Y-91.08%
OCF growth 3Y7.19%
OCF growth 5Y23.12%