South Plains Financial (SPFI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

South Plains Financial

NasdaqGS•Financial Services•Banks - Regional

$45.00-0.31(-0.01%)After hours

Market Cap

$838.15M

P/E

12.9x

P/S

3.7x

P/B

1.3x

South Plains Financial, Inc. operates as a bank holding company for City Bank that provides commercial and consumer financial services to small and medium-sized businesses and individuals. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits. The company also provides traditional trust products and services; debit and credit cards; retirement services and products, including real estate administration, family trust administration, revocable and irrevocable trusts, charitable trusts for individuals and corporations, self-directed individual retirement accounts, simplified employee pensions plans, employee stock ownership plans, defined benefit plans, and profit-sharing plans. In addition, it offers investment services, such as self-directed IRAs, money market funds, mutual funds, annuities and tax-deferred annuities, stocks and bonds, investments for non-U.S. residents, treasury bills, treasury notes and bonds, and tax-exempt municipal bonds. Further, the company provides commercial real estate loans; general and specialized commercial loans, including agricultural production and real estate, energy, finance, investment, and insurance loans, as well as loans to goods, services, restaurant and retail, construction, and other industries; residential construction loans; and 1-4 family residential loans, auto loans, and other loans for recreational vehicles or other purposes; and mortgage banking services. The company was founded in 1941 and is headquartered in Lubbock, Texas.

How this company scores

WeakMetricSide Score: 86/100

Grade capped at D — Interest coverage below 1× (1.0x) — earnings cannot cover interest. Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (18/25).

Profitability23/25

Growth20/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsRising earningsLow leverage

Grade capped at D

Interest coverage below 1× (1.0x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 12.9x5y range 5.8x – 12.9x

Currently above its 20-quarter median.

P/S · 3.7x5y range 1.7x – 3.7x

Currently above its 20-quarter median.

P/B · 1.3x5y range 1.0x – 1.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Share Dilution

Red Flag

Shares outstanding increased 16.6% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $838.15M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $226.71M
Q. Revenue: $64.49M
TTM EBITDA: $94.50M
TTM Op. Income: $85.27M
Q. Op. Income: $24.63M
TTM Net Income: $65.11M
Q. Net Income: $18.99M
EPS: $0.99
Shares Out.: $19.10M

$226.71M in TTM revenue grew 11.3% YoY, reaching $64.49M last quarter. TTM EBITDA of $94.50M and TTM operating income of $85.27M show growth is flowing through to the bottom line. TTM net income of $65.11M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 99.5%
EBITDA Margin: 41.2%
Op. Margin: 38.2%
Net Margin: 29.4%

Op. margin of 38.2% is down 0.5% YoY — costs are rising relative to revenue. Net margin at 29.4% and gross margin of 99.5% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 1% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 12.9x
P/S Ratio: 3.7x
P/B Ratio: 1.3x

At 12.9x P/E, the stock trades below typical market levels. P/S of 3.7x and P/B of 1.3x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.39B
Cash: $787.76M
Long-Term Debt: $60.49M
Book Value: $629.76M
D/E Ratio: 0.1
Debt/EBITDA: 2.3

With $5.39B in assets and $60.49M in long-term debt, D/E is 0.1and book value is $629.76M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 6 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $27.87M
TTM Free Cash Flow: $75.50M
FCF Margin: 33.3%
FCF / Net Income: 1.2

TTM FCF of $75.50M on $27.87M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 30% — an improving trend.