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 17 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).
Southern First’s balance-sheet expansion is being funded mainly by liabilities, while cash-backed earnings slowly rebuild capital.
Between FY2023 and FY2025, cash and equivalents rose from$156.2M to$269.6M . Over the same span, debt-to-equity eased from 12.0x to 10.9x, so liquidity improved even as the company kept enlarging a liability-funded balance sheet; that usually means internal capital creation is finally offsetting part of the leverage that comes with growth.
FY2025 operating cash flow of
Even after earnings improved, return on assets was only
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Southern First'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.
Southern First passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 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 $1.00 in operating cash flow ($30.5M OCF vs $30.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Southern First generated $6.3M in revenue in fiscal year 2025. This represents an increase of 13.0% from the prior year.
Southern First reported $30.4M in net income in fiscal year 2025. This represents an increase of 95.5% from the prior year.
Southern First earned $3.72 per diluted share (EPS) in fiscal year 2025. This represents an increase of 94.8% from the prior year.
Cash & Balance Sheet
Southern First generated $29.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 20.6% from the prior year.
Southern First held $269.6M in cash against $0 in long-term debt as of fiscal year 2025.
Southern First had 8M shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.
Margins & Returns
Southern First's net profit margin was 483.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 204.1 percentage points from the prior year.
Southern First's ROE was 8.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.5 percentage points from the prior year.
Capital Allocation
Southern First invested $581K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 26.0% from the prior year.
SFST Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5M-11.6% | $1.7M+5.6% | $1.6M+2.0% | $1.6M+10.2% | $1.4M+39.1% | $1.0M-29.3% | $1.4M-24.6% | $1.9M |
| 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 | $12.0M+13.8% | $10.5M-6.8% | $11.3M-3.2% | $11.7M+3.3% | $11.3M+6.5% | $10.6M-1.7% | $10.8M-4.4% | $11.3M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $24.4M-5.6% | $25.8M-6.1% | $27.5M+1.6% | $27.0M+2.9% | $26.3M-8.4% | $28.7M-6.2% | $30.6M-1.4% | $31.0M |
| Income Tax | $2.6M-10.8% | $2.9M+9.0% | $2.7M+32.8% | $2.0M+22.3% | $1.6M+29.9% | $1.3M-5.9% | $1.3M+48.0% | $909K |
| Net Income | $9.9M+0.3% | $9.9M+13.8% | $8.7M+31.6% | $6.6M+25.0% | $5.3M-6.4% | $5.6M+28.4% | $4.4M+46.1% | $3.0M |
| EPS (Diluted) | $1.19 | N/A | $1.07+32.1% | $0.81+24.6% | $0.65 | N/A | $0.54+45.9% | $0.37 |
SFST Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.6B+4.0% | $4.4B+1.0% | $4.4B+1.2% | $4.3B+0.6% | $4.3B+4.8% | $4.1B-2.1% | $4.2B+1.6% | $4.1B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $342.8M+27.2% | $269.6M-4.7% | $282.9M+4.4% | $271.0M-11.2% | $305.1M+87.3% | $162.9M-37.5% | $260.6M+33.7% | $194.8M |
| 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 | $4.2B+4.1% | $4.0B+0.8% | $4.0B+1.0% | $4.0B+0.4% | $3.9B+5.0% | $3.8B-2.4% | $3.8B+1.5% | $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 | $379.4M+2.9% | $368.7M+3.5% | $356.3M+3.2% | $345.5M+2.3% | $337.6M+2.2% | $330.4M+1.2% | $326.5M+2.4% | $318.7M |
| Retained Earnings | $261.3M+3.9% | $251.4M+4.1% | $241.6M+3.7% | $232.9M+2.9% | $226.3M+2.4% | $221.1M+2.6% | $215.4M+2.1% | $211.1M |
SFST Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.8M+616.4% | -$2.1M-114.4% | $14.5M+38.3% | $10.5M+38.2% | $7.6M+519.6% | -$1.8M-106.9% | $26.3M+565.1% | $4.0M |
| Capital Expenditures | $280K+2.9% | $272K+209.1% | $88K+10.0% | $80K-43.3% | $141K-35.3% | $218K+11.8% | $195K+112.0% | $92K |
| Free Cash Flow | $10.5M+545.0% | -$2.4M-116.4% | $14.4M+38.5% | $10.4M+39.7% | $7.4M+467.5% | -$2.0M-107.7% | $26.1M+575.8% | $3.9M |
| Investing Cash Flow | -$94.9M-80.7% | -$52.5M-21.5% | -$43.2M+28.2% | -$60.2M-19.5% | -$50.4M-289.3% | -$12.9M-60.6% | -$8.1M-133.1% | $24.4M |
| Financing Cash Flow | $157.3M+281.1% | $41.3M+1.7% | $40.6M+158.3% | $15.7M-91.5% | $185.0M+323.0% | -$83.0M-274.7% | $47.5M+5947.2% | -$812K |
| 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 | 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 | 662.2%+78.6pp | 583.6%+42.2pp | 541.4%+121.9pp | 419.4%+49.6pp | 369.8%-179.7pp | 549.5%+247.1pp | 302.4%+146.5pp | 156.0% |
| Return on Equity | 2.6%-0.1pp | 2.7%+0.2pp | 2.4%+0.5pp | 1.9%+0.3pp | 1.6%-0.1pp | 1.7%+0.4pp | 1.3%+0.4pp | 0.9% |
| Return on Assets | 0.2%0.0pp | 0.2%+0.0pp | 0.2%+0.1pp | 0.1%+0.0pp | 0.1%-0.0pp | 0.1%+0.0pp | 0.1%+0.0pp | 0.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 11.07+0.1 | 10.94-0.3 | 11.23-0.2 | 11.47-0.2 | 11.69+0.3 | 11.37-0.4 | 11.78-0.1 | 11.89 |
| FCF Margin | 702.8%+842.4pp | -139.6%-1039.5pp | 899.9%+237.4pp | 662.5%+140.0pp | 522.5%+720.3pp | -197.8%-2001.4pp | 1803.7%+1602.6pp | 201.1% |
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Frequently Asked Questions
What is Southern First's annual revenue?
Southern First (SFST) reported $6.3M in total revenue for fiscal year 2025. This represents a 13.0% 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 13% year-over-year, from $5.6M to $6.3M in fiscal year 2025.
Is Southern First profitable?
Yes, Southern First (SFST) reported a net income of $30.4M in fiscal year 2025, with a net profit margin of 483.4%.
What is Southern First's net profit margin?
Southern First (SFST) had a net profit margin of 483.4% in fiscal year 2025, 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 8.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Southern First's free cash flow?
Southern First (SFST) generated $29.9M in free cash flow during fiscal year 2025. This represents a 20.6% 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 $30.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Southern First's total assets?
Southern First (SFST) had $4.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Southern First's capital expenditures?
Southern First (SFST) invested $581K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Southern First's debt-to-equity ratio?
Southern First (SFST) had a debt-to-equity ratio of 10.94 as of fiscal year 2025, 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 0.7% for fiscal year 2025, 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 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Southern First's earnings high quality?
Southern First (SFST) has an earnings quality ratio of 1.00x, 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 41 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.