SSBSouthState Bank Corp

State Commercial Banks · $10.2B market cap · 6,190 employees

0.3×

Less likely than average to be taken private

Top 41% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

Earnings not backed by cashYes
38% of net income
Cash flow under 80% of net income
Payouts exceed cash flowYes
155% of cash flow
Buybacks + dividends over cash flow

13 other checks

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Dilutive SBCNo
—
Over 10% of revenue
Goodwill-heavyNo
4% of assets
Over 40% of assets
Shareholder dissentNo
95% lowest support
Any vote under 80% support
Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AINo
3.0 per 10K words · 70th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$10.2B market cap
Market cap $500M–$5B
Recurring revenueNo
5 of 10
10-K business scored 7+ of 10 for recurring revenue
AI-rollup shapedNo
1 of 10
10-K business scored 5+ of 10 as an AI-rollup target
Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$6M net
Net sales over $10M in 12 months

Filed	Form	Acquirer	Price	Premium
Sep 12, 2017	DEFM14A	South State Corporation	$11.17	14.29%

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY
Net income	$476M	$496M	$494M	$535M	$799M	49%
Operating cash flow	$416M	$1.7B	$547M	$512M	$301M	41%
Capex	$28M	$18M	$39M	$36M	$70M	96%
Stock-based comp	$26M	$36M	$36M	$28M	$37M	32%
Buybacks	$147M	$119M	$16M	$17M	$236M	1307%
Dividends	$135M	$147M	$156M	$163M	$231M	42%

None on file.

−$6Mnet selling by insiders, open market, last 12 months

Bought $0 · 0 tradesSold $6M · 9 trades

No pay-versus-performance disclosure yet.