PNFPPinnacle Financial Partners, Inc.
National Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $15.4B
- Employees
- 2,023
- Net debt / EBITDA
- —
- −$4.8B net debt
- AI in 10-K
- 0.4
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$7M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo85% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo61% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo3% of assetsOver 40% of assets
- Shareholder dissentNo97% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.4 per 10K words · 18th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$15.4B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$17M netNet sales over $10M in 12 months
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Net income | $544M | $482M | $792M | 64% |
| Operating cash flow | $1.3B | $821M | $676M | 18% |
| Capex | $32M | $56M | $33M | 41% |
| Stock-based comp | $32M | $32M | $34M | 6.5% |
| Buybacks | $0 | $272M | $142M | 48% |
| Dividends | $216M | $220M | $271M | 23% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $2M · 5
- Open-market sells, 12 mo
- $19M · 4
- Net
- −$17M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $7M | $17M | 156 | 153 |
| FY2024 | $6M | $15M | 185 | 143 |
| FY2023 | $6M | $10M | 140 | 127 |
| FY2022 | $11M | $2M | 116 | 127 |
| FY2021 | $7M | $16M | 150 | 137 |