SOUTHSTATE CORP (SSB)
US8404411097 - Common Stock
We assign a fundamental rating of 4 out of 10 to SSB. SSB was compared to 412 industry peers in the Banks industry. SSB has a medium profitability rating, but doesn't score so well on its financial health evaluation. While showing a medium growth rate, SSB is valued expensive at the moment.
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.
In the past 5 years SSB always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 1.10%, SSB is in the better half of the industry, outperforming 70.32% of the companies in the same industry.
SSB has a Return On Equity of 8.93%. This is comparable to the rest of the industry: SSB outperforms 47.69% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.1% | ||
| ROE | 8.93% | ||
| ROIC | N/A |
ROA(3y)1.12%
ROA(5y)0.97%
ROE(3y)9.54%
ROE(5y)7.81%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
SSB has a Profit Margin of 28.41%. This is in the better half of the industry: SSB outperforms 71.29% of its industry peers.
In the last couple of years the Profit Margin of SSB has remained more or less at the same level.
The Operating Margin and Gross Margin are not available for SSB so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 28.41% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y38.91%
PM growth 5Y0.92%
GM growth 3YN/A
GM growth 5YN/A
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 remains at a similar level compared to 1 year ago.
SSB has more shares outstanding than it did 5 years ago.
The debt/assets ratio for SSB has been reduced compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of SSB is 1.73, which is an excellent value as it means it would take SSB, only 1.73 years of fcf income to pay off all of its debts.
SSB's Debt to FCF ratio of 1.73 is fine compared to the rest of the industry. SSB outperforms 62.04% of its industry peers.
SSB has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
SSB's Debt to Equity ratio of 0.16 is fine compared to the rest of the industry. SSB outperforms 64.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | 1.73 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC13.21%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
SSB shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -3.25%.
Measured over the past 5 years, SSB shows a small growth in Earnings Per Share. The EPS has been growing by 4.49% on average per year.
The Revenue has been growing slightly by 5.75% in the past year.
SSB shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 21.43% yearly.
EPS 1Y (TTM)-3.25%
EPS 3Y13.14%
EPS 5Y4.49%
EPS growth Q2Q-11.17%
Revenue 1Y (TTM)5.75%
Revenue growth 3Y15.21%
Revenue growth 5Y21.43%
Revenue growth Q2Q-8.64%
3.2 Future
The Earnings Per Share is expected to grow by 12.44% on average over the next years. This is quite good.
Based on estimates for the next years, SSB will show a small growth in Revenue. The Revenue will grow by 6.36% on average per year.
EPS Next Y-3.33%
EPS Next 2Y3.22%
EPS Next 3Y12.44%
EPS Next 5YN/A
Revenue Next Year-0.8%
Revenue Next 2Y3.44%
Revenue Next 3Y6.36%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 11.38 indicates a reasonable valuation of SSB.
SSB's Price/Earnings ratio is a bit more expensive when compared to the industry. SSB is more expensive than 64.72% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 24.84, SSB is valued rather cheaply.
The Price/Forward Earnings ratio is 11.77, which indicates a very decent valuation of SSB.
SSB's Price/Forward Earnings is on the same level as the industry average.
SSB is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 21.35, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.38 | ||
| Fwd PE | 11.77 |
4.2 Price Multiples
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SSB indicates a slightly more expensive valuation: SSB is more expensive than 65.94% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.7 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
SSB's earnings are expected to grow with 12.44% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)2.54
EPS Next 2Y3.22%
EPS Next 3Y12.44%
5. Dividend
5.1 Amount
SSB has a Yearly Dividend Yield of 2.63%.
SSB's Dividend Yield is slightly below the industry average, which is at 3.83.
Compared to an average S&P500 Dividend Yield of 2.41, SSB has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.63% |
5.2 History
On average, the dividend of SSB grows each year by 8.19%, which is quite nice.
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)8.19%
Div Incr Years12
Div Non Decr Years16
5.3 Sustainability
31.60% of the earnings are spent on dividend by SSB. This is a low number and sustainable payout ratio.
The dividend of SSB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP31.6%
EPS Next 2Y3.22%
EPS Next 3Y12.44%
SOUTHSTATE CORP
NYSE:SSB (4/26/2024, 7:17:34 PM)
After market: 77.95 0 (0%)77.95
-1.01 (-1.28%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap5.94B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.63% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.38 | ||
| Fwd PE | 11.77 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)2.54
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.1% | ||
| ROE | 8.93% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | 28.41% | ||
| GM | N/A | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.16 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-3.25%
EPS 3Y13.14%
EPS 5Y
EPS growth Q2Q
EPS Next Y-3.33%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)5.75%
Revenue growth 3Y15.21%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y