Smartfinancial Inc Financials

SMBK

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Neutral

6/9

Smartfinancial Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass.

Earnings Quality Cash-Backed

1.46x

For every $1 of reported earnings, Smartfinancial Inc generates $1.46 in operating cash flow ($52.7M OCF vs $36.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Smartfinancial Inc (SMBK) 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

N/A

Free Cash Flow

$46.3M

YoY+38.4%

5Y CAGR+14.4%

Smartfinancial Inc generated $46.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 38.4% from the prior year.

Net Income

$36.1M

YoY+26.4%

5Y CAGR+6.4%

10Y CAGR+34.7%

Smartfinancial Inc reported $36.1M in net income in fiscal year 2024. This represents an increase of 26.4% from the prior year.

EPS (Diluted)

$2.14

YoY+26.6%

5Y CAGR+2.5%

10Y CAGR+15.2%

Smartfinancial Inc earned $2.14 per diluted share (EPS) in fiscal year 2024. This represents an increase of 26.6% from the prior year.

Cash & Debt

$387.6M

YoY+10.0%

5Y CAGR+16.1%

10Y CAGR+23.6%

Smartfinancial Inc held $387.6M in cash against $8.1M in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.32

YoY+0.0%

5Y CAGR+45.0%

Smartfinancial Inc paid $0.32 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

17M

YoY-0.4%

5Y CAGR+3.9%

10Y CAGR+9.8%

Smartfinancial Inc had 17M shares outstanding in fiscal year 2024. This represents a decrease of 0.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

7.4%

YoY+1.1pp

5Y CAGR-1.1pp

10Y CAGR+4.1pp

Smartfinancial Inc's ROE was 7.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.1 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$3.0M

Smartfinancial Inc spent $3.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$6.4M

YoY+2.2%

5Y CAGR+0.4%

10Y CAGR+8.4%

Smartfinancial Inc invested $6.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 2.2% from the prior year.

SMBK Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	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
R&D Expenses	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
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$113.8M+29.3%	$88.0M+312.3%	$21.3M+80.2%	$11.8M-29.3%	$16.7M-31.9%	$24.6M
Income Tax	$9.3M+22.1%	$7.6M-35.8%	$11.9M+24.7%	$9.5M+45.3%	$6.6M-4.9%	$6.9M
Net Income	$36.1M+26.4%	$28.6M-33.5%	$43.0M+23.7%	$34.8M+43.0%	$24.3M-8.3%	$26.5M
EPS (Diluted)	$2.14+26.6%	$1.69-33.7%	$2.55+14.9%	$2.22+37.0%	$1.62-14.3%	$1.89

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$32.1M+10.2%	$29.1M+3.5%	$28.1M-2.7%	$28.9M+1.6%	$28.5M+1.5%	$28.1M	N/A	$24.3M
Income Tax	$3.3M+28.5%	$2.6M+10.8%	$2.3M+43.2%	$1.6M-30.9%	$2.3M-11.4%	$2.6M	N/A	$319K
Net Income	$13.7M+16.9%	$11.7M+4.0%	$11.3M+23.1%	$9.1M+14.2%	$8.0M-14.5%	$9.4M	N/A	$2.1M
EPS (Diluted)	$0.81+17.4%	$0.69+3.0%	$0.67+24.1%	$0.54+12.5%	$0.48-12.7%	$0.55	N/A	$0.12

SMBK Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.3B+9.2%	$4.8B+4.1%	$4.6B+0.6%	$4.6B+39.5%	$3.3B+34.9%	$2.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$387.6M+10.0%	$352.3M+32.2%	$266.4M-74.5%	$1.0B+116.9%	$481.7M+161.8%	$184.0M
Inventory	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
Goodwill	$96.1M0.0%	$96.1M0.0%	$96.1M+5.0%	$91.6M+23.5%	$74.1M+13.0%	$65.6M
Total Liabilities	$4.8B+9.5%	$4.4B+3.9%	$4.2B+0.5%	$4.2B+41.9%	$2.9B+38.0%	$2.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$8.1M-38.2%	$13.1M-68.7%	$41.9M-52.2%	$87.6M+7.9%	$81.2M+157.0%	$31.6M
Total Equity	$491.3M+6.8%	$459.9M+6.3%	$432.5M+0.7%	$429.4M+20.2%	$357.2M+14.2%	$312.7M
Retained Earnings	$203.8M+17.7%	$173.1M+10.6%	$156.5M+32.4%	$118.2M+35.6%	$87.2M+32.4%	$65.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$5.8B+5.4%	$5.5B+1.5%	$5.4B+2.6%	$5.3B+7.9%	$4.9B-1.3%	$5.0B+2.6%	$4.8B+0.7%	$4.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$557.1M+52.6%	$365.1M-13.7%	$423.0M+9.1%	$387.6M+13.0%	$342.8M-28.3%	$477.9M+35.7%	$352.3M-12.0%	$400.3M
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	$90.4M-6.0%	$96.1M0.0%	$96.1M0.0%	$96.1M0.0%	$96.1M0.0%	$96.1M0.0%	$96.1M0.0%	$96.1M
Total Liabilities	$5.2B+5.5%	$5.0B+1.4%	$4.9B+2.5%	$4.8B+8.3%	$4.4B-1.5%	$4.5B+2.7%	$4.4B+0.4%	$4.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.3M-81.4%	$7.0M-7.9%	$7.6M-6.2%	$8.1M-36.2%	$12.7M+29.6%	$9.8M-25.2%	$13.1M-7.1%	$14.1M
Total Equity	$538.4M+3.7%	$519.0M+2.6%	$505.8M+2.9%	$491.3M+4.0%	$472.5M+1.2%	$466.8M+1.5%	$459.9M+3.0%	$446.7M
Retained Earnings	$236.4M+5.5%	$224.1M+4.8%	$213.7M+4.9%	$203.8M+8.6%	$187.8M+3.7%	$181.1M+4.6%	$173.1M+2.9%	$168.3M

SMBK Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$52.7M+32.7%	$39.7M-30.1%	$56.8M+23.0%	$46.2M+58.9%	$29.1M-2.7%	$29.9M
Capital Expenditures	$6.4M+2.2%	$6.3M-49.8%	$12.5M+425.3%	$2.4M-56.3%	$5.4M-13.2%	$6.3M
Free Cash Flow	$46.3M+38.4%	$33.4M-24.5%	$44.3M+1.1%	$43.8M+85.4%	$23.6M+0.1%	$23.6M
Investing Cash Flow	-$420.2M-210.7%	-$135.2M+83.9%	-$840.8M-217.3%	-$265.0M-2.2%	-$259.3M-173.6%	-$94.8M
Financing Cash Flow	$402.8M+122.1%	$181.4M+3276.2%	$5.4M-99.3%	$782.2M+48.1%	$528.0M+296.8%	$133.1M
Dividends Paid	$5.4M-0.1%	$5.4M+14.9%	$4.7M+26.7%	$3.7M+24.8%	$3.0M+326.6%	$700K
Share Buybacks	$3.0M	N/A	N/A	$1.2M-72.0%	$4.3M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$16.9M+20.4%	$14.0M-1.9%	$14.3M-14.4%	$16.7M+0.9%	$16.5M+133.8%	$7.1M-39.6%	$11.7M+75.3%	$6.7M
Capital Expenditures	$328K-57.8%	$778K-16.3%	$929K-30.3%	$1.3M+20.9%	$1.1M-62.1%	$2.9M+29.3%	$2.3M+135.5%	$957K
Free Cash Flow	$16.6M+25.0%	$13.2M-0.9%	$13.4M-13.0%	$15.4M-0.6%	$15.4M+271.0%	$4.2M-56.0%	$9.5M+65.2%	$5.7M
Investing Cash Flow	-$95.3M+28.6%	-$133.4M-34.7%	-$99.0M+46.2%	-$183.9M-152.8%	-$72.7M-2312.1%	-$3.0M+96.2%	-$78.6M-191.5%	$85.9M
Financing Cash Flow	$270.4M+340.0%	$61.5M-48.8%	$120.1M-66.8%	$361.9M+558.7%	-$78.9M-164.9%	$121.6M+541.8%	$18.9M-72.4%	$68.8M
Dividends Paid	$1.4M+0.1%	$1.4M+0.6%	$1.4M+0.2%	$1.4M0.0%	$1.4M-0.4%	$1.4M+0.3%	$1.4M-86.4%	$10.0M
Share Buybacks	N/A	N/A	N/A	$0	N/A	N/A	N/A	N/A

SMBK Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	7.4%+1.1pp	6.2%-3.7pp	10.0%+1.9pp	8.1%+1.3pp	6.8%-1.7pp	8.5%
Return on Assets	0.7%+0.1pp	0.6%-0.3pp	0.9%+0.2pp	0.8%0.0pp	0.7%-0.3pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.02-0.0	0.03-0.1	0.10-0.1	0.20-0.0	0.23+0.1	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	2.5%+0.3pp	2.3%+0.0pp	2.2%+0.3pp	1.9%+0.2pp	1.7%-0.3pp	2.0%	N/A	0.5%
Return on Assets	0.2%+0.0pp	0.2%0.0pp	0.2%+0.0pp	0.2%+0.0pp	0.2%-0.0pp	0.2%	N/A	0.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.00-0.0	0.010.0	0.010.0	0.02-0.0	0.030.0	0.020.0	0.030.0	0.03
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Smartfinancial Inc profitable?

Yes, Smartfinancial Inc (SMBK) reported a net income of $36.1M in fiscal year 2024.

What is Smartfinancial Inc's earnings per share (EPS)?

Smartfinancial Inc (SMBK) reported diluted earnings per share of $2.14 for fiscal year 2024. This represents a 26.6% 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.

How much debt does Smartfinancial Inc have?

As of fiscal year 2024, Smartfinancial Inc (SMBK) had $387.6M in cash and equivalents against $8.1M in long-term debt.

Does Smartfinancial Inc pay dividends?

Yes, Smartfinancial Inc (SMBK) paid $0.32 per share in dividends during fiscal year 2024.

What is Smartfinancial Inc's return on equity (ROE)?

Smartfinancial Inc (SMBK) has a return on equity of 7.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Smartfinancial Inc's free cash flow?

Smartfinancial Inc (SMBK) generated $46.3M in free cash flow during fiscal year 2024. This represents a 38.4% 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 Smartfinancial Inc's operating cash flow?

Smartfinancial Inc (SMBK) generated $52.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Smartfinancial Inc's total assets?

Smartfinancial Inc (SMBK) had $5.3B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Smartfinancial Inc's capital expenditures?

Smartfinancial Inc (SMBK) invested $6.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Smartfinancial Inc buy back shares?

Yes, Smartfinancial Inc (SMBK) spent $3.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Smartfinancial Inc have outstanding?

Smartfinancial Inc (SMBK) had 17M shares outstanding as of fiscal year 2024.

What is Smartfinancial Inc's debt-to-equity ratio?

Smartfinancial Inc (SMBK) had a debt-to-equity ratio of 0.02 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Smartfinancial Inc's return on assets (ROA)?

Smartfinancial Inc (SMBK) had a return on assets of 0.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Smartfinancial Inc's Piotroski F-Score?

Smartfinancial Inc (SMBK) has a Piotroski F-Score of 6 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 Smartfinancial Inc's earnings high quality?

Smartfinancial Inc (SMBK) has an earnings quality ratio of 1.46x, 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.