LKFN

MKT CAP:$2B

Lakeland Financial Corporation

Market Cap

$2B

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$60.22+$3.76 (+6.66%)

Apr 22, 2026

Company Details

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking...

CEO

David Findlay

IPO Date

Aug 14, 1997

Website

www.lakecitybank.com

Key Metrics TTM

Revenue

$422M

-1.9% YoY

Net Income

$103M

EPS (Diluted)

$4.01

Free Cash Flow

$104M

Revenue / Share

$16.36

Gross Margin

61.0%

Operating Margin

29.8%

Net Margin

24.5%

FCF Margin

24.6%

P/S

3.7x

P/E

15.1x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Feb 25, 2026

$422M-1.9%EPS $4.01

Q4 2025

Feb 25, 2026

$107M+1.3%EPS $1.16

Q3 2025

Oct 29, 2025

$108M+0.8%EPS $1.03

Q2 2025

Aug 6, 2025

$106M-7.3%EPS $1.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$56M	$52M	$28M
Q2 22	$64M	$59M	$31M
Q3 22	$73M	$63M	$35M
Q4 22	$95M	$68M	$31M
Q1 23	$90M	$57M	$28M
Q2 23	$96M	$59M	$16M
Q3 23	$99M	$59M	$30M
Q4 23	$108M	$66M	$36M
Q1 24	$104M	$59M	$28M
Q2 24	$114M	$60M	$27M
Q3 24	$107M	$58M	$28M
Q4 24	$105M	$60M	$29M
Q1 25	$101M	$57M	$24M
Q2 25	$106M	$63M	$33M
Q3 25	$108M	$67M	$32M
Q4 25	$107M	$70M	$36M

Valuation

Quarter	P/S	P/E
Q1 22	7.0x	16.2x
Q2 22	6.7x	16.0x
Q3 22	6.3x	15.3x
Q4 22	5.4x	15.0x
Q1 23	4.9x	15.0x
Q2 23	4.4x	16.7x
Q3 23	4.1x	17.3x
Q4 23	4.0x	16.7x
Q1 24	3.8x	16.8x
Q2 24	3.7x	15.5x
Q3 24	3.6x	15.8x
Q4 24	3.6x	16.7x
Q1 25	3.7x	17.3x
Q2 25	3.7x	16.5x
Q3 25	3.7x	16.0x
Q4 25	3.7x	15.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$48M	$47M
Q2 22	$43M	$42M
Q3 22	$44M	$42M
Q4 22	$34M	$33M
Q1 23	$27M	$25M
Q2 23	$9M	$8M
Q3 23	$51M	$49M
Q4 23	$27M	$26M
Q1 24	$25M	$23M
Q2 24	$21M	$19M
Q3 24	$18M	$15M
Q4 24	$39M	$37M
Q1 25	$29M	$27M
Q2 25	$16M	$14M
Q3 25	$36M	$31M
Q4 25	$34M	$32M

Capital Expenditures

Quarter	CapEx
Q1 22	$1M
Q2 22	$1M
Q3 22	$1M
Q4 22	$1M
Q1 23	$2M
Q2 23	$2M
Q3 23	$1M
Q4 23	$981.0K
Q1 24	$2M
Q2 24	$2M
Q3 24	$3M
Q4 24	$2M
Q1 25	$2M
Q2 25	$2M
Q3 25	$5M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-2.8%	-6.0%
Q2 22	+15.0%	+27.8%
Q3 22	+27.0%	+37.3%
Q4 22	+73.3%	+155.0%
Q1 23	+60.9%	+123.9%
Q2 23	+49.7%	+141.9%
Q3 23	+36.8%	+83.7%
Q4 23	+13.4%	+11.9%
Q1 24	+15.8%	+23.4%
Q2 24	+19.0%	+9.8%
Q3 24	+7.5%	+13.6%
Q4 24	-2.7%	+5.5%
Q1 25	-2.2%	+1.7%
Q2 25	-7.3%	-16.4%
Q3 25	+0.8%	-4.3%
Q4 25	+1.3%	-7.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	4.1%
Q2 22	$2M	3.7%
Q3 22	$2M	2.9%
Q4 22	$1M	1.2%
Q1 23	$2M	2.4%
Q2 23	-$3M	-2.7%
Q3 23	$2M	2.2%
Q4 23	$2M	1.7%
Q1 24	$880.0K	0.8%
Q2 24	$995.0K	0.9%
Q3 24	$1M	1.2%
Q4 24	$1M	1.4%
Q1 25	$2M	2.2%
Q2 25	$336.0K	0.3%
Q3 25	$4M	3.3%
Q4 25	$2M	2.3%

OpEx Breakdown

Quarter	G&A
Q1 22	$16M
Q2 22	$15M
Q3 22	$15M
Q4 22	$11M
Q1 23	$17M
Q2 23	$12M
Q3 23	$17M
Q4 23	$17M
Q1 24	$18M
Q2 24	$17M
Q3 24	$17M
Q4 24	$18M
Q1 25	$19M
Q2 25	$15M
Q3 25	$21M
Q4 25	$20M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$475M	$1.5B	$2.0B
Q2 22	$170M	$1.3B	$1.5B
Q3 22	$205M	$1.2B	$1.4B
Q4 22	$130M	$1.2B	$1.3B
Q1 23	$154M	$1.1B	$1.3B
Q2 23	$173M	$1.1B	$1.2B
Q3 23	$146M	$976M	$1.1B
Q4 23	$152M	$1.1B	$1.2B
Q1 24	$148M	$1.0B	$1.2B
Q2 24	$121M	$993M	$1.1B
Q3 24	$160M	$424M	$584M
Q4 24	$168M	$423M	$591M
Q1 25	$235M	$1.0B	$1.2B
Q2 25	$310M	$440M	$750M
Q3 25	$193M	$448M	$641M
Q4 25	$57M	$84M	$141M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	26M	+0.1%	+0.5%
Q2 22	26M	+0.0%	+0.4%
Q3 22	26M	+0.1%	+0.4%
Q4 22	26M	+0.1%	+0.3%
Q1 23	26M	-0.0%	+0.2%
Q2 23	26M	-0.2%	-0.0%
Q3 23	26M	+0.0%	-0.2%
Q4 23	26M	+0.2%	-0.1%
Q1 24	26M	+0.1%	+0.0%
Q2 24	26M	-0.0%	+0.2%
Q3 24	26M	+0.1%	+0.3%
Q4 24	26M	+0.1%	+0.2%
Q1 25	26M	+0.0%	+0.2%
Q2 25	26M	-0.1%	+0.2%
Q3 25	26M	+0.1%	+0.2%
Q4 25	26M	-0.2%	-0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$90.3K	616
Q2 22	$104.1K	616
Q3 22	$118.1K	616
Q4 22	$146.3K	652
Q1 23	$137.3K	652
Q2 23	$147.2K	652
Q3 23	$152.5K	652
Q4 23	$165.1K	655
Q1 24	$158.2K	655
Q2 24	$174.3K	655
Q3 24	$163.3K	655
Q4 24	$154.1K	683
Q1 25	$148.4K	683
Q2 25	$155.0K	683
Q3 25	$157.9K	683
Q4 25	$152.1K	701

Revenue / Employee