SSB

MKT CAP:$9B

SouthState Corporation

Market Cap

$9B

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

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$98.09+$3.86 (+4.10%)

Apr 23, 2026

Company Details

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It accepts checking accounts, savings deposits, inter...

CEO

John C. Corbett

IPO Date

Jan 28, 1997

Website

www.southstatebank.com

Key Metrics TTM

Revenue

$3.7B

+36.3% YoY

Net Income

$935M

EPS (Diluted)

$9.27

Free Cash Flow

$154M

Revenue / Share

$37.20

Gross Margin

55.4%

Operating Margin

27.9%

Net Margin

25.4%

FCF Margin

4.2%

P/S

2.6x

P/E

10.1x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$817M-8.7%EPS $2.28

FY 2025

Feb 20, 2026

$3.8B+57.0%EPS $7.86

Q4 2025

Feb 20, 2026

$955M+64.9%EPS $2.46

Q3 2025

Oct 31, 2025

$981M+58.4%EPS $2.42

Q2 2025

Aug 1, 2025

$927M+52.9%EPS $2.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$413M	$383M	$152M
Q3 22	$449M	$412M	$171M
Q4 22	$453M	$382M	$183M
Q1 23	$522M	$420M	$179M
Q2 23	$555M	$401M	$158M
Q3 23	$573M	$396M	$157M
Q4 23	$542M	$371M	$137M
Q1 24	$589M	$403M	$154M
Q2 24	$606M	$422M	$173M
Q3 24	$619M	$433M	$187M
Q4 24	$579M	$393M	$187M
Q1 25	$895M	$530M	$121M
Q2 25	$927M	$657M	$282M
Q3 25	$981M	$694M	$321M
Q4 25	$955M	$687M	$322M
Q1 26	$817M	$0	$100M

Valuation

Quarter	P/S	P/E
Q2 22	6.4x	21.1x
Q3 22	6.1x	20.6x
Q4 22	5.7x	19.1x
Q1 23	5.2x	17.7x
Q2 23	4.8x	17.5x
Q3 23	4.5x	17.8x
Q4 23	4.3x	19.2x
Q1 24	4.2x	20.2x
Q2 24	4.1x	19.8x
Q3 24	4.0x	19.0x
Q4 24	4.0x	17.7x
Q1 25	3.5x	18.6x
Q2 25	3.1x	16.0x
Q3 25	2.8x	13.6x
Q4 25	2.5x	11.9x
Q1 26	2.6x	10.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$579M	$574M
Q2 22	$388M	$384M
Q3 22	$610M	$605M
Q4 22	$1.1B	$1.1B
Q1 23	$59M	$52M
Q2 23	$312M	$305M
Q3 23	$449M	$438M
Q4 23	-$274M	-$287M
Q1 24	$278M	$272M
Q2 24	$127M	$117M
Q3 24	-$247M	-$254M
Q4 24	$354M	$341M
Q1 25	-$126M	-$139M
Q2 25	$73M	$52M
Q3 25	$122M	$155M
Q4 25	$102M	$85M

Capital Expenditures

Quarter	CapEx
Q1 22	$5M
Q2 22	$4M
Q3 22	$5M
Q4 22	$4M
Q1 23	$8M
Q2 23	$7M
Q3 23	$11M
Q4 23	$13M
Q1 24	$6M
Q2 24	$9M
Q3 24	$7M
Q4 24	$13M
Q1 25	$13M
Q2 25	$20M
Q3 25	$33M
Q4 25	$17M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+19.2%	+19.2%
Q3 22	+25.4%	+35.9%
Q4 22	+32.8%	+31.1%
Q1 23	+46.4%	+49.6%
Q2 23	+34.4%	+52.2%
Q3 23	+27.6%	+49.5%
Q4 23	+19.6%	+49.8%
Q1 24	+12.9%	+27.0%
Q2 24	+9.2%	+9.1%
Q3 24	+8.0%	+4.0%
Q4 24	+6.8%	-3.5%
Q1 25	+51.9%	+77.7%
Q2 25	+52.9%	+48.8%
Q3 25	+58.4%	+52.4%
Q4 25	+64.9%	+61.6%
Q1 26	-8.7%	-7.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$8M	2.4%
Q2 22	$9M	2.3%
Q3 22	$11M	2.3%
Q4 22	$7M	1.6%
Q1 23	$11M	2.2%
Q2 23	$8M	1.4%
Q3 23	$9M	1.6%
Q4 23	$7M	1.4%
Q1 24	$6M	1.0%
Q2 24	$7M	1.2%
Q3 24	$8M	1.3%
Q4 24	$7M	1.2%
Q1 25	$8M	0.9%
Q2 25	$11M	1.1%
Q3 25	$10M	1.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$167M	$2M
Q3 22	$151M	$2M
Q4 22	$89M	$3M
Q1 23	$156M	$2M
Q2 23	$164M	$2M
Q3 23	$161M	$3M
Q4 23	$191M	$3M
Q1 24	$168M	$2M
Q2 24	$166M	$3M
Q3 24	$164M	$2M
Q4 24	$171M	$2M
Q1 25	$214M	$2M
Q2 25	$5M	$3M
Q3 25	$5M	$3M
Q4 25	$364M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$623M	$5.7B	$6.3B
Q3 22	$467M	$5.4B	$5.8B
Q4 22	$732M	$5.3B	$6.1B
Q1 23	$781M	$5.2B	$5.9B
Q2 23	$819M	$4.9B	$5.8B
Q3 23	$742M	$4.6B	$5.4B
Q4 23	$762M	$4.8B	$5.5B
Q1 24	$716M	$4.6B	$5.3B
Q2 24	$507M	$4.5B	$5.0B
Q3 24	$564M	$4.6B	$5.1B
Q4 24	$798M	$100M	$899M
Q1 25	$3.3B	$5.9B	$9.2B
Q2 25	$3.5B	$5.9B	$9.4B
Q3 25	$859M	$34M	$893M
Q4 25	$583M	$6.3B	$6.9B
Q1 26	$598M	$6.5B	$7.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	76M	+5.5%	+6.6%
Q3 22	76M	+0.1%	+7.9%
Q4 22	76M	+0.2%	+8.6%
Q1 23	76M	+0.1%	+5.9%
Q2 23	76M	+0.0%	+0.4%
Q3 23	77M	+0.2%	+0.5%
Q4 23	77M	+0.1%	+0.4%
Q1 24	77M	+0.0%	+0.4%
Q2 24	77M	-0.1%	+0.2%
Q3 24	77M	+0.3%	+0.3%
Q4 24	77M	-0.1%	+0.2%
Q1 25	102M	+32.7%	+32.8%
Q2 25	102M	+0.0%	+32.9%
Q3 25	102M	-0.1%	+32.5%
Q4 25	101M	-1.1%	+31.1%
Q1 26	99M	-1.7%	-2.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$83.8K	5K
Q3 22	$91.2K	5K
Q4 22	$92.1K	5K
Q1 23	$106.0K	5K
Q2 23	$112.8K	5K
Q3 23	$116.5K	5K
Q4 23	$106.9K	5K
Q1 24	$116.1K	5K
Q2 24	$119.6K	5K
Q3 24	$122.1K	5K
Q4 24	$116.1K	5K
Q1 25	$179.4K	5K
Q2 25	$186.0K	5K
Q3 25	$196.7K	5K
Q4 25	$154.2K	6K
Q1 26	$132.0K	6K

Revenue / Employee