COLBCOLUMBIA BANKING SYSTEM, INC.
State Commercial Banks
- Revenue
- $177M
- 19% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $8.7B
- Employees
- —
- Net debt / EBITDA
- —
- −$1.8B net debt
- AI in 10-K
- 1.6
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo136% of net incomeCash flow under 80% of net income
- Dilutive SBCYes19% of revenueOver 10% of revenue
- Payouts exceed cash flowNo60% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.6 per 10K words · 48th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$8.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$983K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $83M | $86M | $134M | $149M | $177M | 19% |
| Net income | $420M | $337M | $349M | $534M | $550M | 3.0% |
| Operating cash flow | $663M | $1.1B | $670M | $659M | $746M | 13% |
| Capex | $15M | $27M | — | — | — | |
| Stock-based comp | $11M | $10M | $18M | $20M | $33M | 65% |
| Buybacks | $81M | $4M | $6M | $6M | $109M | 1717% |
| Dividends | $184M | $182M | $270M | $300M | $335M | 12% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $22K · 1
- Open-market sells, 12 mo
- $1M · 14
- Net
- −$983K
Pay vs performance
No pay-versus-performance disclosure yet.