SBCFSEACOAST BANKING CORP OF FLORIDA
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $3.2B
- Employees
- 1,962
- Net debt / EBITDA
- —
- −$317M net debt
- AI in 10-K
- 2.8
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$3M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo130% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo5% of assetsOver 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.8 per 10K words · 67th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$3.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$3M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $124M | $107M | $104M | $121M | $145M | 20% |
| Operating cash flow | $155M | $196M | $151M | $180M | $188M | 4.5% |
| Stock-based comp | $9M | $11M | $13M | $14M | $16M | 15% |
| Buybacks | $0 | $0 | $11M | $880K | $0 | 100% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $155K · 2
- Open-market sells, 12 mo
- $3M · 14
- Net
- −$3M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $4M | $5M | 120 | 187 |
| FY2024 | $4M | $5M | 102 | 155 |
| FY2023 | $3M | $3M | 103 | 120 |
| FY2022 | $3M | $2M | 109 | 116 |
| FY2021 | $3M | $3M | 122 | 143 |