ServisFirst Bancshares Financials

$68.3 M

Revenue Q2, 2017

$2.2 B

Mkt cap, 13-Dec-2017
Gross profit (Q2, 2017)60.4 M
Gross profit margin (Q2, 2017), %88%
Net income (Q2, 2017)24.2 M
EBIT (Q2, 2017)51.2 M
Cash, 30-Jun-2017255.3 M

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

126.1 m144.7 m180 m212.9 m

Revenue growth, %

15%24%18%

Cost of goods sold

17.7 m25.8 m

Gross profit

162.3 m187.1 m

Gross profit Margin, %

90%88%

Sales and marketing expense

44 m

Operating expense total

44 m

EBIT

62 m74 m89 m173.7 m

EBIT margin, %

49%51%49%82%

Pre tax profit

89 m110.8 m

Income tax expense

(9.4 m)12.4 m17.1 m20.4 m21.6 m25.5 m29.3 m

Net Income

41.6 m52.4 m63.5 m81.5 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

47.7 m50.4 m53.7 m55.9 m59.5 m64.1 m68.3 m

Cost of goods sold

4 m4.7 m5.8 m6.2 m6.8 m7.5 m8 m

Gross profit

43.7 m45.7 m47.9 m49.7 m52.7 m56.6 m60.4 m

Gross profit Margin, %

92%91%89%89%89%88%88%

Sales and marketing expense

10.4 m10.6 m11.1 m10.7 m11 m11.7 m12 m

Operating expense total

10.4 m10.6 m19.6 m10.7 m11 m11.7 m12 m

EBIT

36.1 m38.8 m42.1 m42.1 m44.5 m47.1 m51.2 m

EBIT margin, %

76%77%78%75%75%73%75%

Pre tax profit

21.4 m24.3 m26.3 m26.4 m29.1 m30.3 m34.1 m

Income tax expense

7 m8 m8.6 m7.6 m8.2 m7.8 m10 m

Net Income

10.8 m11.8 m11.6 m14 m13.1 m14.5 m16.3 m17.6 m18.9 m20.9 m22.5 m24.2 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

258.4 m297.5 m352.2 m784 m

Inventories

4.9 b

PP&E

8.4 m7.8 m19.4 m40.3 m

Total Assets

3.5 b4.1 b5.1 b6.4 b

Accounts Payable

769 k1.9 m2.4 m5.4 b

Total Liabilities

5.8 b

Preferred Stock

40 m40 m

Additional Paid-in Capital

123.3 m185.4 m211.5 m215.9 m

Retained Earnings

130 m177.1 m234.2 m307.2 m

Total Equity

297.2 m407.2 m449.1 m522.9 m

Financial Leverage

11.8 x10.1 x11.3 x12.2 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

265.4 m222.5 m279.9 m344 m299.7 m136.5 m242.7 m525.6 m588.7 m792.3 m465.6 m255.3 m

Inventories

2.7 b2.9 b3.1 b3.2 b3.6 b3.9 b4 b4.3 b4.5 b4.7 b5.2 b5.3 b

PP&E

8.5 m8 m7.7 m8 m16.1 m15.6 m19 m21 m23.2 m25 m46.4 m51.8 m

Total Assets

3.4 b3.6 b3.8 b4 b4.4 b4.5 b4.8 b5.4 b5.6 b6 b6.3 b6.3 b

Accounts Payable

2.9 b3 b3.2 b3.4 b3.6 b3.7 b4 b4.3 b4.7 b5.1 b5.4 b5.4 b

Total Liabilities

3.1 b3.3 b3.4 b3.6 b4 b4 b4.3 b4.9 b5.2 b5.5 b5.8 b5.8 b

Preferred Stock

40 m40 m40 m40 m40 m40 m

Additional Paid-in Capital

113.4 m127.2 m183.8 m184.8 m207.4 m209.1 m210.3 m215.9 m214.5 m215.3 m217.2 m217.3 m

Retained Earnings

118.4 m140.5 m150.8 m163.4 m188.5 m201.3 m216 m249.7 m268.8 m287.6 m327 m348.5 m

Total Equity

276.3 m312.3 m380.1 m393.1 m441.5 m454.5 m431.2 m470.9 m489.1 m507.9 m545.1 m567.1 m

Financial Leverage

12.3 x11.4 x9.9 x10.1 x10 x9.9 x11.1 x11.4 x11.5 x11.8 x11.6 x11.2 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

41.6 m52.4 m63.5 m81.5 m

Depreciation and Amortization

1.8 m1.8 m2.2 m2.7 m

Cash From Operating Activities

74.2 m64.1 m74.4 m98.5 m

Cash From Investing Activities

(571.7 m)(549.1 m)(749.5 m)(861.6 m)

Dividends Paid

(431 k)(280 k)(47 k)

Cash From Financing Activities

575.2 m524 m729.8 m1.2 b

Interest Paid

13.8 m12.9 m17.3 m23.8 m

Income Taxes Paid

20.9 m27.3 m27.1 m29.3 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

29.7 m11.8 m23.3 m37.3 m13.1 m27.5 m43.8 m17.6 m38.8 m59.7 m22.5 m46.7 m

Depreciation and Amortization

1.4 m497 k997 k1.5 m512 k1.1 m1.6 m730 k1.5 m2.2 m752 k1.5 m

Cash From Operating Activities

54.3 m18.9 m38.9 m42.1 m10.9 m24 m50.1 m25 m40.9 m70.6 m29.2 m46.3 m

Cash From Investing Activities

(434.3 m)(89.6 m)(218.7 m)(350 m)(91.2 m)(348.8 m)(533.6 m)(115.7 m)(316.4 m)(478.2 m)(290 m)(491.7 m)

Dividends Paid

(300 k)(216 k)(316 k)(223 k)(256 k)(23 k)(23 k)(31 k)

Cash From Financing Activities

464.7 m34.8 m201.3 m393.5 m82.5 m163.7 m428.7 m264.1 m512 m847.5 m(57.6 m)(83.2 m)

Interest Paid

9.9 m2.1 m5.7 m9 m3.1 m7.3 m11.4 m4.5 m11.4 m17.5 m7.7 m16.3 m

Income Taxes Paid

15.5 m6.8 m7 m21.5 m530 k14.9 m20 m674 k17.5 m22.6 m652 k22.4 m

Ratios

USDY, 2017

Revenue/Employee

162.7 k

Financial Leverage

11.2 x