Latest Ratios: P/E Ratio 12.8x · EV/EBITDA 9.0x · ROE 10.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.8B | $9.5B | $7.6B | $6.5B | $5.7B | $5.7B | $4.0B | $3.0B | $2.2B | $2.6B | $2.1B |
| Enterprise Value | $10.6B | $10.2B | $7.7B | $6.7B | $5.9B | $6.1B | $4.1B | $3.8B | $2.4B | $2.7B | $2.2B |
| P/E Ratio → | 12.83 | 11.97 | 14.27 | 13.07 | 11.57 | 11.94 | 33.01 | 16.18 | 12.34 | 29.74 | 20.91 |
| P/S Ratio | 2.62 | 2.52 | 3.19 | 2.95 | 3.43 | 4.01 | 3.29 | 4.15 | 3.11 | 4.65 | 4.65 |
| P/B Ratio | 1.12 | 1.05 | 1.30 | 1.17 | 1.13 | 1.18 | 0.86 | 1.27 | 0.93 | 1.13 | 1.87 |
| P/FCF | — | — | 16.04 | 12.72 | 3.35 | 14.66 | 7.66 | 18.27 | 8.19 | 14.27 | 18.86 |
| P/OCF | — | — | 14.92 | 11.81 | 3.32 | 13.66 | 7.41 | 16.67 | 7.77 | 13.18 | 15.34 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.71 | 3.23 | 3.04 | 3.55 | 4.29 | 3.40 | 5.24 | 3.32 | 4.88 | 4.94 |
| EV / EBITDA | 9.03 | 8.71 | 10.22 | 9.67 | 8.52 | 9.10 | 27.36 | 14.46 | 9.06 | 13.86 | 12.80 |
| EV / EBIT | 10.11 | 9.74 | 11.04 | 10.57 | 9.39 | 10.05 | 39.57 | 16.54 | 10.50 | 16.22 | 14.59 |
| EV / FCF | — | — | 16.24 | 13.13 | 3.47 | 15.68 | 7.91 | 23.07 | 8.75 | 14.98 | 20.03 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.3% | 68.3% | 69.0% | 72.4% | 91.4% | 108.0% | 73.6% | 86.4% | 90.4% | 94.9% | 96.7% |
| Operating Margin | 27.9% | 27.9% | 29.3% | 28.8% | 37.8% | 42.6% | 8.6% | 31.7% | 31.6% | 30.1% | 33.8% |
| Net Profit Margin | 21.3% | 21.3% | 22.3% | 22.5% | 29.6% | 33.6% | 10.0% | 25.6% | 25.2% | 15.6% | 22.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.7% | 10.7% | 9.4% | 9.3% | 10.0% | 10.1% | 3.4% | 7.9% | 7.7% | 5.1% | 9.2% |
| ROA | 1.4% | 1.4% | 1.2% | 1.1% | 1.2% | 1.2% | 0.4% | 1.2% | 1.2% | 0.7% | 1.2% |
| ROIC | 9.2% | 9.2% | 7.9% | 7.6% | 8.0% | 7.7% | 1.7% | 5.4% | 5.9% | 5.9% | 7.9% |
| ROCE | 4.8% | 4.8% | 9.3% | 8.8% | 9.7% | 9.8% | 2.3% | 8.6% | 8.7% | 8.9% | 12.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.15 | 0.15 | 0.15 | 0.18 | 0.18 | 0.23 | 0.25 | 0.47 | 0.22 | 0.22 | 0.33 |
| Debt / EBITDA | 1.12 | 1.12 | 1.18 | 1.41 | 1.34 | 1.65 | 7.71 | 4.19 | 2.03 | 2.55 | 2.10 |
| Net Debt / Equity | — | 0.08 | 0.02 | 0.04 | 0.04 | 0.08 | 0.03 | 0.33 | 0.06 | 0.06 | 0.12 |
| Net Debt / EBITDA | 0.62 | 0.62 | 0.13 | 0.30 | 0.30 | 0.59 | 0.88 | 3.01 | 0.58 | 0.66 | 0.75 |
| Debt / FCF | — | — | 0.21 | 0.41 | 0.12 | 1.02 | 0.26 | 4.80 | 0.56 | 0.71 | 1.17 |
| Interest Coverage | 0.97 | 0.97 | 0.96 | 1.28 | 10.32 | 11.70 | 1.24 | 2.66 | 4.15 | 9.92 | 18.52 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.22 | 0.22 | 0.02 | 0.15 | 0.16 | 0.16 | 0.14 | 0.17 | 0.16 | 0.17 | 0.16 |
| Quick Ratio | 0.22 | 0.22 | 0.02 | 0.15 | 0.16 | 0.16 | 0.14 | 0.17 | 0.16 | 0.17 | 0.16 |
| Cash Ratio | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 | 0.03 | 0.03 | 0.03 |
| Asset Turnover | — | 0.06 | 0.05 | 0.05 | 0.04 | 0.03 | 0.03 | 0.05 | 0.05 | 0.04 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 2.4% | 2.1% | 2.4% | 2.6% | 2.4% | 2.5% | 1.9% | 2.3% | 1.5% | 1.4% |
| Payout Ratio | 29.0% | 29.0% | 30.5% | 31.6% | 29.6% | 28.5% | 81.5% | 30.9% | 28.3% | 44.1% | 28.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.8% | 8.4% | 7.0% | 7.6% | 8.6% | 8.4% | 3.0% | 6.2% | 8.1% | 3.4% | 4.8% |
| FCF Yield | — | — | 6.2% | 7.9% | 29.8% | 6.8% | 13.1% | 5.5% | 12.2% | 7.0% | 5.3% |
| Buyback Yield | 2.4% | 2.5% | 0.2% | 0.2% | 2.1% | 2.6% | 0.8% | 5.3% | 3.2% | 0.2% | 0.3% |
| Total Shareholder Yield | 4.7% | 4.9% | 2.4% | 2.7% | 4.6% | 5.0% | 3.3% | 7.2% | 5.5% | 1.7% | 1.7% |
| Shares Outstanding | — | $101M | $77M | $76M | $75M | $71M | $55M | $35M | $37M | $30M | $24M |
Integration and credit migration
Based on recent market data, SouthState trades at a P/B of 1.13, which suggests investors are pricing in a premium for the bank's aggressive expansion strategy and its perceived dominance in high-growth Southeastern corridors relative to its regional peer group.
The current P/B multiple indicates that the market expects SouthState to deliver superior returns on tangible equity as it integrates recent acquisitions. Investors should monitor whether this valuation remains sustainable if the bank's ROTCE fails to expand significantly beyond current levels in the coming quarters.
As reported in financial statements, the bank's ROE has remained constrained within a 1.2% to 2.8% range over the last ten quarters, indicating that despite significant asset growth, the underlying profitability quality is currently pressured by rising funding costs and integration-related expenses.
The decomposition of ROE suggests that while asset utilization has been bolstered by inorganic growth, the NIM remains thin at 0.8% to 0.9%. This implies that the bank's profitability is highly sensitive to deposit beta shifts, warranting further investigation into the sustainability of its current net interest margin.
According to quarterly filings, the efficiency ratio fluctuated between 35.6% and 45.7% over the past ten quarters, suggesting that management's ability to control operating expenses remains inconsistent as the bank scales its footprint through rapid, acquisition-heavy growth strategies.
The volatility in the efficiency ratio may indicate that the bank is struggling to achieve immediate cost synergies from its recent mergers. Investors should monitor whether the bank can stabilize this metric below 40% to demonstrate effective operating leverage in a competitive interest rate environment.
Based on the provided quarterly data, SouthState maintains a consistent equity-to-assets ratio of approximately 0.13, which appears to provide a stable capital buffer that supports the bank's ongoing inorganic growth initiatives while maintaining a conservative leverage profile relative to its regional peers.
This capital position suggests that the bank is well-positioned to absorb potential credit shocks, though it may limit the capacity for aggressive share buybacks if regulatory capital requirements tighten. The current ratio appears adequate for supporting the bank's risk-weighted asset growth in the near term.
As noted in regulatory filings, the P/E ratio is frequently misapplied to SouthState because it fails to account for the significant impact of purchase accounting adjustments and provision volatility that artificially distort the bank's reported earnings on a quarterly basis.
Investors should prioritize the use of P/TBV and core earnings metrics, which strip out the noise from M&A-related accretion and CECL-driven provision swings. Relying solely on P/E may lead to an inaccurate assessment of the bank's true earnings power and valuation relative to its peers.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SSB stock.
SouthState Corporation's current P/E ratio is 12.8x. The historical average is 18.4x. This places it at the 24th percentile of its historical range.
SouthState Corporation's current EV/EBITDA is 9.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
SouthState Corporation's return on equity (ROE) is 10.7%. The historical average is 10.1%.
Based on historical data, SouthState Corporation is trading at a P/E of 12.8x. This is at the 24th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SouthState Corporation's current dividend yield is 2.28% with a payout ratio of 29.0%.
SouthState Corporation has 68.3% gross margin and 27.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
SouthState Corporation's Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.