Lakeland Financial Corporation Gross profit (Q2, 2018)93.3 M

Lakeland Financial Corporation Gross profit margin (Q2, 2018), %81.6%

Lakeland Financial Corporation Net income (Q2, 2018)38.5 M

Lakeland Financial Corporation EBIT (Q2, 2018)68.8 M

Lakeland Financial Corporation Cash, 30-Jun-2018180.2 M

Lakeland Financial Corporation EV1.3 B

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Revenue | 107.7 m | 147.3 m | 154 m | 171.8 m | |

| 37% | 5% | 12% | ||

## Cost of goods sold | 16.6 m | 20.5 m | 29.8 m | ||

## Gross profit | 137.4 m | 151.3 m | |||

| 89% | 88% | |||

## Sales and marketing expense | 41.9 m | ||||

## Operating expense total | 41.9 m | 79.3 m | |||

## EBIT | 105.9 m | 117.3 m | 132.9 m | ||

| 69% | 68% | |||

## Pre tax profit | 69.2 m | 77.2 m | 89.6 m | ||

## Income tax expense | 22.8 m | 25.1 m | 32.3 m | ||

## Net Income | 38.8 m | 43.8 m | 46.4 m | 52.1 m | 57.3 m |

- Source: SEC Filings

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 38 m | 38.9 m | 40.3 m | 42.4 m | 44.1 m | 46.4 m | 49.6 m | 55.9 m | 114.4 m | |||||

## Cost of goods sold | 4.2 m | 4.3 m | 4.6 m | 5.1 m | 5.4 m | 6.1 m | 7 m | 9.8 m | 21.1 m | |||||

## Gross profit | 33.8 m | 34.6 m | 35.6 m | 37.3 m | 38.7 m | 40.3 m | 42.6 m | 46.1 m | 93.3 m | |||||

| 89% | 89% | 89% | 88% | 88% | 87% | 86% | 82% | 82% | |||||

## Sales and marketing expense | 9.4 m | 9.9 m | 9.6 m | 10.6 m | 10.8 m | 11.4 m | 11.1 m | |||||||

## Operating expense total | 16.7 m | 17.2 m | 17.4 m | 18.4 m | 18.8 m | 20 m | 19.4 m | 21.2 m | 41.5 m | |||||

## EBIT | 26.1 m | 26.7 m | 28.6 m | 29.3 m | 29.7 m | 31.9 m | 33.3 m | 32.9 m | 68.8 m | |||||

| 69% | 69% | 71% | 69% | 67% | 69% | 67% | 59% | 60% | |||||

## Pre tax profit | 17 m | 17.4 m | 18.2 m | 18.9 m | 20 m | 20.1 m | 22.8 m | 21.6 m | 46.9 m | |||||

## Income tax expense | 5.7 m | 5.8 m | 6 m | 6.1 m | 6.5 m | 5.6 m | 7.4 m | 3.3 m | 8.4 m | |||||

## Net Income | 9.8 m | 9.9 m | 11.3 m | 11.5 m | 11.1 m | 11.4 m | 11.6 m | 12.3 m | 12.8 m | 13.5 m | 14.5 m | 15.4 m | 18.3 m | 38.5 m |

- Source: SEC Filings

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Cash | 63.1 m | 90.6 m | 80.7 m | 167.3 m | 176.2 m |

## Accounts Receivable | 8.6 m | 8.7 m | 9.5 m | 3.5 m | |

## Inventories | |||||

## Goodwill | 5 m | 5 m | 5 m | 5 m | 5 m |

## Total Assets | 3.2 b | 3.4 b | 3.8 b | 4.3 b | 4.7 b |

## Accounts Payable | 2.9 m | 2.9 m | 3.8 m | 3.6 b | 4 b |

## Short-term debt | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m |

## Long-term debt | 37 k | 35 k | 34 k | 32 k | 80 m |

## Total Debt | 31 m | 31 m | 31 m | 31 m | 111 m |

## Total Liabilities | 3.9 b | 4.2 b | |||

## Retained Earnings | 233.1 m | 263.3 m | 294 m | 327.9 m | 363.8 m |

## Total Equity | 322 m | 361.4 m | 392.9 m | 427.1 m | 468.7 m |

## Debt to Equity Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x | |

## Debt to Assets Ratio | 0 x | 0 x | 0 x | 0 x | |

## Financial Leverage | 9.9 x | 9.5 x | 9.6 x | 10 x | 10 x |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 81.3 m | 77.1 m | 160.4 m | 70.2 m | 113 m | 89.5 m | 98.1 m | 80.7 m | 108.9 m | 278.4 m | 111.6 m | 137.3 m | 167.6 m | 180.2 m |

## Goodwill | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m | 5 m |

## Total Assets | 3 b | 3.2 b | 3.4 b | 3.4 b | 3.5 b | 3.6 b | 3.7 b | 3.8 b | 3.9 b | 4.2 b | 4.3 b | 4.4 b | 4.7 b | 4.8 b |

## Accounts Payable | 2.4 b | 2.7 b | 2.8 b | 2.9 b | 3 b | 3 b | 3.1 b | 3.3 b | 3.4 b | 3.7 b | 3.7 b | 3.6 b | 4.1 b | 3.9 b |

## Short-term debt | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m | 30.9 m |

## Long-term debt | 37 k | 35 k | 35 k | 35 k | 34 k | 34 k | 34 k | 32 k | 32 k | 32 k | 30 k | 30 k | 175 m | |

## Total Debt | 31 m | 31 m | 31 m | 31 m | 31 m | 31 m | 31 m | 31 m | 31 m | 31 m | 31 m | 31 m | 30.9 m | 205.9 m |

## Total Liabilities | 2.7 b | 2.9 b | 3.1 b | 3 b | 3.1 b | 3.2 b | 3.3 b | 3.4 b | 3.5 b | 3.8 b | 3.9 b | 3.9 b | 4.3 b | 4.3 b |

## Retained Earnings | 225.6 m | 239.9 m | 247.7 m | 255.8 m | 271 m | 278.3 m | 285.8 m | 302.2 m | 310.3 m | 319.1 m | 337.6 m | 347.4 m | 376.9 m | 390.4 m |

## Total Equity | 314.5 m | 332.1 m | 343.6 m | 351.9 m | 370.8 m | 375.8 m | 386.7 m | 407 m | 418.9 m | 427.4 m | 437.2 m | 450.5 m | 473.3 m | 486.5 m |

## Financial Leverage | 9.7 x | 9.7 x | 10 x | 9.5 x | 9.4 x | 9.5 x | 9.5 x | 9.4 x | 9.4 x | 9.8 x | 9.9 x | 9.8 x | 10 x | 9.8 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Net Income | 38.8 m | 43.8 m | 46.4 m | 52.1 m | 57.3 m |

## Depreciation and Amortization | 3 m | 3.4 m | 3.8 m | 4.2 m | 5.1 m |

## Accounts Receivable | |||||

## Inventories | |||||

## Accounts Payable | |||||

## Cash From Operating Activities | 63 m | 55.7 m | 55.8 m | 62.2 m | 77.2 m |

## Purchases of PP&E | (167.5 m) | (73.4 m) | (91.8 m) | (116.2 m) | (139.3 m) |

## Cash From Investing Activities | (312.5 m) | (239.8 m) | (339.1 m) | (442.4 m) | (396.1 m) |

## Cash From Financing Activities | 80.4 m | 211.6 m | 273.4 m | 466.9 m | 327.7 m |

## Interest Paid | 19.1 m | 15 m | 15.8 m | 18.6 m | 29.2 m |

## Income Taxes Paid | 17.3 m | 21.2 m | 21.6 m | 21.6 m | 29.1 m |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 28.3 m | 9.9 m | 21.2 m | 32.7 m | 11.1 m | 22.5 m | 34.1 m | 12.3 m | 25.1 m | 38.6 m | 14.5 m | 29.9 m | 18.3 m | 38.5 m |

## Depreciation and Amortization | 2.2 m | 830 k | 1.7 m | 2.5 m | 956 k | 1.9 m | 2.8 m | 983 k | 2 m | 3.1 m | 1.2 m | 2.4 m | 1.4 m | 2.8 m |

## Cash From Operating Activities | 50.2 m | 14.9 m | 25.8 m | 39.7 m | 16.5 m | 26.4 m | 43.1 m | 18.5 m | 34.8 m | 49.5 m | 20.8 m | 35.9 m | 25.9 m | 45.6 m |

## Purchases of PP&E | (142 m) | (13.5 m) | (29.5 m) | (58.7 m) | (26.1 m) | (43.9 m) | (70.2 m) | (27 m) | (53.8 m) | (77.1 m) | (52.8 m) | (90.1 m) | (53.8 m) | (72.7 m) |

## Cash From Investing Activities | (157.1 m) | (42.5 m) | (144.4 m) | (172.3 m) | (11 m) | (132.7 m) | (217.9 m) | (36.2 m) | (134.2 m) | (227.3 m) | (86 m) | (136.7 m) | (61.2 m) | (83.6 m) |

## Cash From Financing Activities | (44 m) | 41.7 m | 215.8 m | 139.8 m | 17 m | 105.1 m | 182.2 m | 17.8 m | 127.6 m | 375.5 m | 9.6 m | 70.9 m | 26.7 m | 42.1 m |

## Interest Paid | 14.7 m | 3.6 m | 7.2 m | 11.2 m | 3.3 m | 7.2 m | 11.7 m | 4.2 m | 9.1 m | 13.7 m | 5.8 m | 13.9 m | 8.7 m | 20.1 m |

## Income Taxes Paid | 13.2 m | 465 k | 10.2 m | 16.5 m | 104 k | 9.9 m | 15.4 m | 8.8 m | 15.1 m | 4 k | 11.5 m | 8.2 m |

USD | Y, 2018 |
---|---|

## EV/EBIT | 18.2 x |

## EV/CFO | 27.4 x |

## Financial Leverage | 9.8 x |

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Lakeland Financial Corporation's Total Loans was reported to be $3.6b in Q2, 2017.

FY, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | FY, 2016 | Q1, 2017 | Q2, 2017 | |
---|---|---|---|---|---|---|---|---|---|---|---|

## Bank Branches | 46 | 47 | 48 | ||||||||

## Non-performing Loans | $13.71 m | $15.61 m | $14.37 m | $14.31 m | $13.06 m | $7.58 m | $9.33 m | $7.26 m | $6.69 m | $11.82 m | $9.88 m |

## Total Loans | $2.76 b | $2.77 b | $2.89 b | $2.97 b | $3.08 b | $3.11 b | $3.20 b | $3.28 b | $3.47 b | $3.53 b | $3.58 b |

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