SRCE1ST SOURCE CORP
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $2.1B
- Employees
- 1,190
- Net debt / EBITDA
- —
- AI in 10-K
- 1.5
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 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 cashNo328% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo23% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.5 per 10K words · 45th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.1B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$240K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Operating cash flow | $167M | $176M | $188M | $194M | $223M | 15% |
| Capex | $3M | $2M | $6M | $12M | $10M | 18% |
| Stock-based comp | $4M | $4M | $5M | $6M | $6M | 9.6% |
| Buybacks | $33M | $7M | $12M | $178K | $14M | 7692% |
| Dividends | $31M | $32M | $33M | $35M | $38M | 8.6% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $7K · 2
- Open-market sells, 12 mo
- $247K · 3
- Net
- −$240K
Pay vs performance
No pay-versus-performance disclosure yet.