SPFISOUTH PLAINS FINANCIAL, INC.
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $829M
- Employees
- 545
- Net debt / EBITDA
- —
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 0 of 7
- TSR below peersNo1 of 4 years3+ of last 5 years
- High CEO pay despite TSRNo$2M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo133% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo24% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo93% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$829M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$13M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $59M | $58M | $63M | $50M | $58M | 18% |
| Operating cash flow | $96M | $124M | $59M | $59M | $77M | 30% |
| Capex | $3M | $4M | $5M | $3M | $6M | 69% |
| Stock-based comp | $2M | $3M | $2M | $2M | $3M | 13% |
| Buybacks | $9M | $23M | $18M | $1M | $9M | 536% |
| Dividends | $5M | $8M | $9M | $9M | $10M | 10% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 1
- Open-market sells, 12 mo
- $13M · 8
- Net
- −$13M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $2M | $2M | 150 | 156 |
| FY2024 | $2M | $2M | 132 | 121 |
| FY2023 | $2M | $2M | 108 | 90 |
| FY2022 | $2M | $2M | 101 | 83 |