Southern First Financials
This page shows Southern First (SFST) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Southern First's revenue surged 37.8% year-over-year to $5.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Southern First has elevated debt relative to equity (D/E of 11.37), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Southern First converts 445.6% of revenue into free cash flow ($24.8M). This strong cash generation earns a score of 100/100.
Southern First generates a 4.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100. This is up from 4.3% the prior year.
Southern First passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Southern First generates $1.65 in operating cash flow ($25.6M OCF vs $15.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Southern First generated $5.6M in revenue in fiscal year 2024. This represents an increase of 37.8% from the prior year.
Southern First generated $24.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 51.0% from the prior year.
Southern First reported $15.5M in net income in fiscal year 2024. This represents an increase of 15.7% from the prior year.
Southern First earned $1.91 per diluted share (EPS) in fiscal year 2024. This represents an increase of 15.1% from the prior year.
Southern First held $162.9M in cash against $0 in long-term debt as of fiscal year 2024.
Southern First had 8M shares outstanding in fiscal year 2024. This represents an increase of 0.9% from the prior year.
Southern First's net profit margin was 279.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 53.3 percentage points from the prior year.
Southern First's ROE was 4.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the prior year.
Southern First invested $785K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 36.8% from the prior year.
SFST Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6M+2.0% | $1.6M+10.2% | $1.4M+63.9% | $869K-28.1% | $1.2M-9.6% | $1.3M+115.0% | $622K+114.5% | $290K |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $27.5M+1.6% | $27.0M+2.9% | $26.3M-12.7% | $30.1M+7.0% | $28.1M+17.8% | $23.9M+33.3% | $17.9M+64.2% | $10.9M |
| Income Tax | $2.7M+32.8% | $2.0M+22.3% | $1.6M+40.6% | $1.2M-2.1% | $1.2M+49.4% | $800K-4.3% | $836K-47.6% | $1.6M |
| Net Income | $8.7M+31.6% | $6.6M+25.0% | $5.3M+26.4% | $4.2M+1.7% | $4.1M+66.7% | $2.5M-9.1% | $2.7M-50.8% | $5.5M |
| EPS (Diluted) | $1.07+32.1% | $0.81+24.6% | $0.65+27.5% | $0.510.0% | $0.51+64.5% | $0.31-6.1% | $0.33-52.2% | $0.69 |
SFST Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.4B+1.2% | $4.3B+0.6% | $4.3B+5.6% | $4.1B+0.9% | $4.0B+0.4% | $4.0B+1.6% | $3.9B+6.7% | $3.7B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $282.9M+4.4% | $271.0M-11.2% | $305.1M+95.3% | $156.2M+2.5% | $152.4M-25.7% | $205.1M-24.7% | $272.2M+4593.2% | $5.8M |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $4.0B+1.0% | $4.0B+0.4% | $3.9B+5.4% | $3.7B+0.7% | $3.7B+0.4% | $3.7B+1.7% | $3.6B+7.1% | $3.4B |
| 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 | $356.3M+3.2% | $345.5M+2.3% | $337.6M+8.0% | $312.5M+2.8% | $303.9M+0.8% | $301.5M+0.7% | $299.4M+1.6% | $294.5M |
| Retained Earnings | $241.6M+3.7% | $232.9M+2.9% | $226.3M+10.1% | $205.5M+2.1% | $201.4M+2.1% | $197.3M+1.3% | $194.8M+1.4% | $192.1M |
SFST Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.5M+38.3% | $10.5M+38.2% | $7.6M+10.5% | $6.9M-57.5% | $16.1M+345.1% | -$6.6M-632.4% | $1.2M-90.8% | $13.5M |
| Capital Expenditures | $88K+10.0% | $80K-43.3% | $141K+15.6% | $122K-65.4% | $353K-39.9% | $587K+226.1% | $180K-77.9% | $816K |
| Free Cash Flow | $14.4M+38.5% | $10.4M+39.7% | $7.4M+10.4% | $6.7M-57.3% | $15.8M+320.1% | -$7.2M-778.6% | $1.1M-91.6% | $12.7M |
| Investing Cash Flow | -$43.2M+28.2% | -$60.2M-19.5% | -$50.4M-44.4% | -$34.9M+55.8% | -$78.9M+35.3% | -$122.0M+14.6% | -$142.8M+43.0% | -$250.7M |
| Financing Cash Flow | $40.6M+158.3% | $15.7M-91.5% | $185.0M+481.6% | $31.8M+216.1% | $10.1M-83.6% | $61.4M-74.7% | $242.9M-1.9% | $247.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SFST Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| 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 | 541.4%+121.9pp | 419.4%+49.6pp | 369.8%-109.7pp | 479.5%+140.3pp | 339.2%+155.4pp | 183.8%-250.7pp | 434.6%-1459.2pp | 1893.8% |
| Return on Equity | 2.4%+0.5pp | 1.9%+0.3pp | 1.6%+0.2pp | 1.3%-0.0pp | 1.4%+0.5pp | 0.8%-0.1pp | 0.9%-1.0pp | 1.9% |
| Return on Assets | 0.2%+0.1pp | 0.1%+0.0pp | 0.1%+0.0pp | 0.1%0.0pp | 0.1%+0.0pp | 0.1%-0.0pp | 0.1%-0.1pp | 0.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 11.23-0.2 | 11.47-0.2 | 11.69-0.3 | 11.98-0.2 | 12.23-0.0 | 12.27+0.1 | 12.16+0.6 | 11.54 |
| FCF Margin | 899.9%+237.4pp | 662.5%+140.0pp | 522.5%-252.8pp | 775.4%-531.7pp | 1307.0%+1843.5pp | -536.5%-706.4pp | 169.9%-4192.5pp | 4362.4% |
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Frequently Asked Questions
What is Southern First's annual revenue?
Southern First (SFST) reported $5.6M in total revenue for fiscal year 2024. This represents a 37.8% 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 Southern First's revenue growing?
Southern First (SFST) revenue grew by 37.8% year-over-year, from $4.0M to $5.6M in fiscal year 2024.
Is Southern First profitable?
Yes, Southern First (SFST) reported a net income of $15.5M in fiscal year 2024, with a net profit margin of 279.3%.
What is Southern First's earnings per share (EPS)?
Southern First (SFST) reported diluted earnings per share of $1.91 for fiscal year 2024. This represents a 15.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Southern First's net profit margin?
Southern First (SFST) had a net profit margin of 279.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Southern First's return on equity (ROE)?
Southern First (SFST) has a return on equity of 4.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Southern First's free cash flow?
Southern First (SFST) generated $24.8M in free cash flow during fiscal year 2024. This represents a 51.0% 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 Southern First's operating cash flow?
Southern First (SFST) generated $25.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Southern First's total assets?
Southern First (SFST) had $4.1B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Southern First's capital expenditures?
Southern First (SFST) invested $785K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Southern First have outstanding?
Southern First (SFST) had 8M shares outstanding as of fiscal year 2024.
What is Southern First's debt-to-equity ratio?
Southern First (SFST) had a debt-to-equity ratio of 11.37 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Southern First's return on assets (ROA)?
Southern First (SFST) had a return on assets of 0.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Southern First's Piotroski F-Score?
Southern First (SFST) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Southern First's earnings high quality?
Southern First (SFST) has an earnings quality ratio of 1.65x, 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 Southern First?
Southern First (SFST) scores 55 out of 100 on our Financial Profile, indicating moderate 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.