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Friday 6 November 2026 Export SSB’s income statement to Excel — free account

SouthState Bank Corporation

SSB Financial Banks Regional

SouthState Bank Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.8 billion, up 53.8% from fiscal 2024.

Revenue
−2.24%
EPS
−5.33%
Free cash flow
+286.0%
Total debt
+72.2%

Quarter to September 2026, against a year earlier

104.94 1.71 −1.60%
Market cap
$10.1B
P/E
11.1×
Fwd P/E
11.3×
Dividend yield
2.97%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

SouthState Bank Corporation (SSB) valuation and DCF model

What the price implies · reverse DCF

At $104.94 the price implies 15.7% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 8.8% a year over the last ten years, 5.0% over the last five. The price asks for about twice its ten-year rate. Return on equity averaged 8.3% over ten years; the price implies 9.8% for good.

In December 2017 the price assumed 21.7% a year; SouthState Bank Corporation went on to grow the dividend a share 20.6% a year to FY2025.

Price implies
15.7%
Last 5 years, reported
5.0%
Last 10 years, reported
8.8%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
15.7% a year for ten years
$104.94
today’s price
Its base case
8.8% a year for five years, then 5.3%
$55.40
47.2% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record SouthState Bank Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 15.7% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against SouthState Bank Corporation’s own cost of capital: risk-free 4.3% + beta 0.77 × equity premium 4.5% = 7.8% cost of equity; weighted, 7.8%.

Use 7.8%
Base case value per share $55.40 ten years discounted, and what follows
Current price $104.94 market price per share
Below today’s price 47.2% downside at the base case’s assumptions

How we got there$23.16 10 years of dividends+$32.24 terminal value=$55.40 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Banks Regional).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 11.12× 12.35× 18.58× 40% below 12.02× 7% below
P/FCF 6.51× 9.86× 10.86× 40% below 10.60× 39% below
P/B 1.12× 1.15× 1.11× 1% above 1.23× 9% below
EV/Sales — 2.75× 3.11× — 3.90× —
P/E P/FCF P/B EV/Sales
4.92×8.69×12.47×16.24×10Y avg 10.86×2017201820192020202120222023202420252026

SSB trades at 6.51× P/FCF, against a 10-year average of 10.86× (range 3.30×–17.26×). That is cheaper than 89% of the last 9 year-end readings; re-rating to the average implies $174.90 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.