South Plains Financial Financials
This page shows South Plains Financial (SPFI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Balance-sheet growth and easing funding pressure are lifting profits, while high leverage remains the main amplifier of results.
In FY2025, net income recovered to$58.5M and operating cash flow to$77.5M , so the rebound was supported by cash rather than mainly by accounting accruals. Because interest expense fell from$93.8M in FY2024 to$85.0M in FY2025, the improvement points to a spread business whose earnings move materially when funding pressure eases.
Leverage is what turns modest asset profitability into meaningful shareholder returns: ROA of
Free cash flow reached
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of South Plains Financial's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
South Plains Financial's revenue grew a modest 4.6% year-over-year to $252.0M. This slow but positive growth earns a score of 48/100.
South Plains Financial has elevated debt relative to equity (D/E of 8.07), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
South Plains Financial converts 28.5% of revenue into free cash flow ($71.8M). This strong cash generation earns a score of 91/100.
South Plains Financial's ROE of 11.8% shows moderate profitability relative to equity, earning a score of 39/100. This is up from 11.3% the prior year.
South Plains Financial passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, South Plains Financial generates $1.33 in operating cash flow ($77.5M OCF vs $58.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
South Plains Financial generated $252.0M in revenue in fiscal year 2025. This represents an increase of 4.6% from the prior year.
South Plains Financial reported $58.5M in net income in fiscal year 2025. This represents an increase of 17.6% from the prior year.
South Plains Financial earned $3.44 per diluted share (EPS) in fiscal year 2025. This represents an increase of 17.8% from the prior year.
Cash & Balance Sheet
South Plains Financial generated $71.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 28.2% from the prior year.
South Plains Financial held $552.4M in cash against $0 in long-term debt as of fiscal year 2025.
South Plains Financial paid $0.62 per share in dividends in fiscal year 2025. This represents an increase of 10.7% from the prior year.
South Plains Financial had 16M shares outstanding in fiscal year 2025. This represents a decrease of 1.0% from the prior year.
Margins & Returns
South Plains Financial's net profit margin was 23.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.6 percentage points from the prior year.
South Plains Financial's ROE was 11.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.5 percentage points from the prior year.
Capital Allocation
South Plains Financial spent $8.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 536.3% from the prior year.
South Plains Financial invested $5.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 68.8% from the prior year.
SPFI Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $62.6M-1.2% | $63.4M-1.7% | $64.5M+0.6% | $64.1M+7.0% | $59.9M-2.3% | $61.3M-0.5% | $61.6M+4.1% | $59.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $20.2M+9.6% | $18.4M-5.3% | $19.4M-1.5% | $19.7M+1.4% | $19.4M+11.8% | $17.4M-7.4% | $18.8M-2.3% | $19.2M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $19.8M-3.4% | $20.5M-4.8% | $21.5M-0.6% | $21.6M+1.1% | $21.4M-6.1% | $22.8M-6.4% | $24.3M+4.4% | $23.3M |
| Income Tax | $3.8M-0.4% | $3.8M-11.7% | $4.3M+8.0% | $4.0M+18.0% | $3.4M-19.3% | $4.2M+36.5% | $3.1M-0.7% | $3.1M |
| Net Income | $14.5M-4.6% | $15.3M-6.5% | $16.3M+11.7% | $14.6M+18.8% | $12.3M-25.5% | $16.5M+47.1% | $11.2M+0.7% | $11.1M |
| EPS (Diluted) | $0.85 | N/A | $0.96+11.6% | $0.86+19.4% | $0.72 | N/A | $0.660.0% | $0.66 |
SPFI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.6B+3.7% | $4.5B0.0% | $4.5B+2.7% | $4.4B-0.9% | $4.4B+4.1% | $4.2B-2.4% | $4.3B+2.8% | $4.2B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $722.0M+30.7% | $552.4M-13.0% | $635.0M+35.0% | $470.5M-12.3% | $536.3M+49.4% | $359.1M-23.8% | $471.2M+58.1% | $298.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $19.3M0.0% | $19.3M0.0% | $19.3M0.0% | $19.3M0.0% | $19.3M0.0% | $19.3M0.0% | $19.3M0.0% | $19.3M |
| Total Liabilities | $4.1B+3.9% | $4.0B-0.4% | $4.0B+2.4% | $3.9B-1.3% | $4.0B+4.4% | $3.8B-2.6% | $3.9B+2.4% | $3.8B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $504.9M+2.2% | $493.8M+3.4% | $477.8M+5.2% | $454.1M+2.3% | $443.7M+1.1% | $438.9M-0.9% | $443.1M+6.0% | $418.0M |
| Retained Earnings | $446.0M+2.7% | $434.2M+3.0% | $421.5M+3.4% | $407.8M+3.1% | $395.7M+2.5% | $385.8M+3.8% | $371.8M+2.5% | $362.9M |
SPFI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $16.2M+30.1% | $12.4M-48.7% | $24.2M+64.2% | $14.7M-43.5% | $26.1M+525.5% | $4.2M-76.7% | $17.9M-1.7% | $18.2M |
| Capital Expenditures | $1.4M+29.4% | $1.0M-40.3% | $1.8M+1.5% | $1.7M+52.2% | $1.1M+10.3% | $1.0M+33.1% | $773K-28.3% | $1.1M |
| Free Cash Flow | $14.8M+30.1% | $11.4M-49.3% | $22.5M+72.5% | $13.0M-47.8% | $25.0M+694.1% | $3.1M-81.6% | $17.1M0.0% | $17.1M |
| Investing Cash Flow | $3.1M+103.7% | -$84.7M-263.4% | $51.9M+302.6% | -$25.6M-161.9% | -$9.8M+33.5% | -$14.7M-123.1% | $63.7M+184.5% | -$75.5M |
| Financing Cash Flow | $150.3M+1556.2% | -$10.3M-111.7% | $88.5M+261.0% | -$55.0M-134.2% | $160.9M+258.4% | -$101.6M-210.9% | $91.6M+649.8% | -$16.7M |
| Dividends Paid | $2.8M+6.6% | $2.6M0.0% | $2.6M+6.7% | $2.4M-1.4% | $2.5M+0.7% | $2.5M+7.3% | $2.3M-0.2% | $2.3M |
| Share Buybacks | $0 | $0 | $0-100.0% | $276K-96.7% | $8.3M | $0-100.0% | $1.0M+227.9% | $305K |
SPFI Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 23.2%-0.8pp | 24.1%-1.2pp | 25.3%+2.5pp | 22.8%+2.3pp | 20.5%-6.4pp | 26.9%+8.7pp | 18.2%-0.6pp | 18.8% |
| Return on Equity | 2.9%-0.2pp | 3.1%-0.3pp | 3.4%+0.2pp | 3.2%+0.5pp | 2.8%-1.0pp | 3.8%+1.2pp | 2.5%-0.1pp | 2.7% |
| Return on Assets | 0.3%-0.0pp | 0.3%-0.0pp | 0.4%+0.0pp | 0.3%+0.1pp | 0.3%-0.1pp | 0.4%+0.1pp | 0.3%0.0pp | 0.3% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 8.20+0.1 | 8.07-0.3 | 8.38-0.2 | 8.61-0.3 | 8.93+0.3 | 8.64-0.1 | 8.79-0.3 | 9.10 |
| FCF Margin | 23.7%+5.7pp | 17.9%-16.9pp | 34.8%+14.5pp | 20.3%-21.3pp | 41.6%+36.5pp | 5.1%-22.6pp | 27.7%-1.1pp | 28.9% |
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Frequently Asked Questions
What is South Plains Financial's annual revenue?
South Plains Financial (SPFI) reported $252.0M in total revenue for fiscal year 2025. This represents a 4.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is South Plains Financial's revenue growing?
South Plains Financial (SPFI) revenue grew by 4.6% year-over-year, from $240.9M to $252.0M in fiscal year 2025.
Is South Plains Financial profitable?
Yes, South Plains Financial (SPFI) reported a net income of $58.5M in fiscal year 2025, with a net profit margin of 23.2%.
What is South Plains Financial's net profit margin?
South Plains Financial (SPFI) had a net profit margin of 23.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does South Plains Financial pay dividends?
Yes, South Plains Financial (SPFI) paid $0.62 per share in dividends during fiscal year 2025.
What is South Plains Financial's return on equity (ROE)?
South Plains Financial (SPFI) has a return on equity of 11.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is South Plains Financial's free cash flow?
South Plains Financial (SPFI) generated $71.8M in free cash flow during fiscal year 2025. This represents a 28.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is South Plains Financial's operating cash flow?
South Plains Financial (SPFI) generated $77.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are South Plains Financial's total assets?
South Plains Financial (SPFI) had $4.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are South Plains Financial's capital expenditures?
South Plains Financial (SPFI) invested $5.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is South Plains Financial's debt-to-equity ratio?
South Plains Financial (SPFI) had a debt-to-equity ratio of 8.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is South Plains Financial's return on assets (ROA)?
South Plains Financial (SPFI) had a return on assets of 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is South Plains Financial's Piotroski F-Score?
South Plains Financial (SPFI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are South Plains Financial's earnings high quality?
South Plains Financial (SPFI) has an earnings quality ratio of 1.33x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is South Plains Financial?
South Plains Financial (SPFI) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.