TCBX

MKT CAP:$520M

Third Coast Bancshares, Inc.

Market Cap

$520M

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

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$38.63+$1.20 (+3.21%)

Apr 23, 2026

Company Details

Third Coast Bancshares, Inc. operates as a bank holding company for Third Coast Bank, SSB that provides various commercial banking solutions to small and medium-sized businesses, and professionals. The company's deposit products include che...

CEO

Bart O. Caraway

IPO Date

Nov 9, 2021

Website

www.tcbssb.com

Key Metrics TTM

Revenue

$651M

+91.1% YoY

Net Income

$119M

EPS (Diluted)

$3.94

Free Cash Flow

$48M

Revenue / Share

$39.76

Gross Margin

55.1%

Operating Margin

23.5%

Net Margin

18.3%

FCF Margin

7.4%

P/S

0.8x

P/E

4.4x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$368M+339.8%EPS $1.00

FY 2025

Mar 4, 2026

$367M+8.5%EPS $3.79

Q4 2025

Mar 4, 2026

$96M+9.2%EPS $1.02

Q3 2025

Nov 4, 2025

$96M+13.1%EPS $1.03

Q2 2025

Aug 5, 2025

$91M+8.4%EPS $0.89

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$33M	$25M	$3M
Q3 22	$45M	$31M	$8M
Q4 22	$53M	$32M	$9M
Q1 23	$59M	$34M	$11M
Q2 23	$65M	$35M	$11M
Q3 23	$71M	$34M	$7M
Q4 23	$79M	$38M	$12M
Q1 24	$81M	$39M	$13M
Q2 24	$84M	$40M	$14M
Q3 24	$85M	$42M	$16M
Q4 24	$88M	$45M	$18M
Q1 25	$84M	$45M	$17M
Q2 25	$91M	$49M	$21M
Q3 25	$96M	$52M	$23M
Q4 25	$96M	$56M	$24M
Q1 26	$368M	$201M	$85M

Valuation

Quarter	P/S	P/E
Q2 22	2.8x	45.9x
Q3 22	1.7x	20.4x
Q4 22	1.6x	13.5x
Q1 23	1.1x	8.0x
Q2 23	1.0x	6.7x
Q3 23	0.9x	7.2x
Q4 23	1.0x	7.8x
Q1 24	0.9x	7.6x
Q2 24	0.9x	7.9x
Q3 24	1.1x	8.4x
Q4 24	1.4x	9.9x
Q1 25	1.3x	9.0x
Q2 25	1.3x	7.9x
Q3 25	1.5x	8.5x
Q4 25	1.6x	8.7x
Q1 26	0.8x	4.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$882.0K	-$1M
Q2 22	$4M	$2M
Q3 22	$11M	$7M
Q4 22	$6M	$2M
Q1 23	$8M	$7M
Q2 23	$11M	$9M
Q3 23	$3M	$2M
Q4 23	$18M	$17M
Q1 24	$9M	$9M
Q2 24	$7M	$6M
Q3 24	$22M	$22M
Q4 24	-$4M	-$4M
Q1 25	$10M	$10M
Q2 25	$14M	$14M
Q3 25	$21M	$20M
Q4 25	$6M	$5M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$3M
Q3 22	$3M
Q4 22	$4M
Q1 23	$709.0K
Q2 23	$1M
Q3 23	$1M
Q4 23	$422.0K
Q1 24	$0
Q2 24	$1M
Q3 24	$98.0K
Q4 24	$595.0K
Q1 25	$490.0K
Q2 25	$258.0K
Q3 25	$832.0K
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+33.1%	+48.7%
Q3 22	+82.4%	+69.6%
Q4 22	+85.5%	+55.4%
Q1 23	+107.6%	+84.8%
Q2 23	+95.2%	+77.0%
Q3 23	+56.5%	+72.5%
Q4 23	+49.9%	+54.5%
Q1 24	+36.5%	+42.3%
Q2 24	+29.6%	+30.0%
Q3 24	+19.8%	+7.5%
Q4 24	+11.5%	+4.7%
Q1 25	+3.2%	-2.6%
Q2 25	+8.4%	+0.3%
Q3 25	+13.1%	+6.6%
Q4 25	+9.2%	+3.3%
Q1 26	+339.8%	+326.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$279.0K	1.0%
Q2 22	$330.0K	1.0%
Q3 22	$373.0K	0.8%
Q4 22	$293.0K	0.6%
Q1 23	$365.0K	0.6%
Q2 23	$402.0K	0.6%
Q3 23	$368.0K	0.5%
Q4 23	$493.0K	0.6%
Q1 24	$356.0K	0.4%
Q2 24	$432.0K	0.5%
Q3 24	$452.0K	0.5%
Q4 24	$459.0K	0.5%
Q1 25	$332.0K	0.4%
Q2 25	$406.0K	0.4%
Q3 25	$420.0K	0.4%
Q4 25	$450.0K	0.5%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$14M	$467.0K
Q3 22	$15M	$438.0K
Q4 22	$14M	$580.0K
Q1 23	$14M	$686.0K
Q2 23	$15M	$812.0K
Q3 23	$17M	$515.0K
Q4 23	$16M	$614.0K
Q1 24	$17M	$355.0K
Q2 24	$16M	$406.0K
Q3 24	$16M	$420.0K
Q4 24	$17M	$526.0K
Q1 25	$18M	$409.0K
Q2 25	$18M	$503.0K
Q3 25	$20M	$499.0K
Q4 25	$21M	$733.0K
Q1 26	$100M	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$318M	$157M	$475M
Q3 22	$217M	$160M	$377M
Q4 22	$330M	$176M	$506M
Q1 23	$309M	$180M	$490M
Q2 23	$245M	$194M	$439M
Q3 23	$142M	$201M	$343M
Q4 23	$297M	$178M	$475M
Q1 24	$368M	$246M	$614M
Q2 24	$242M	$286M	$528M
Q3 24	$258M	$292M	$550M
Q4 24	$372M	$384M	$756M
Q1 25	$219M	$253M	$472M
Q2 25	$113M	$218M	$331M
Q3 25	$117M	$383M	$500M
Q4 25	$175M	$224M	$399M
Q1 26	$181M	$575M	$757M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	14M	+0.5%	+63.6%
Q3 22	14M	-1.0%	+61.9%
Q4 22	14M	+0.6%	+11.7%
Q1 23	17M	+22.1%	+22.2%
Q2 23	17M	+0.3%	+21.9%
Q3 23	14M	-17.7%	+1.4%
Q4 23	17M	+21.7%	+22.7%
Q1 24	17M	+0.3%	+0.8%
Q2 24	17M	+0.5%	+1.0%
Q3 24	17M	+1.0%	+23.9%
Q4 24	17M	+1.2%	+3.0%
Q1 25	17M	+0.3%	+3.0%
Q2 25	17M	0.0%	+2.5%
Q3 25	18M	+0.5%	+2.0%
Q4 25	16M	-6.6%	-5.9%
Q1 26	16M	0.0%	-6.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$99.2K	334
Q3 22	$135.8K	334
Q4 22	$143.4K	368
Q1 23	$161.2K	368
Q2 23	$175.8K	368
Q3 23	$192.9K	368
Q4 23	$213.8K	370
Q1 24	$218.9K	370
Q2 24	$226.6K	370
Q3 24	$229.8K	370
Q4 24	$239.1K	369
Q1 25	$226.6K	369
Q2 25	$246.3K	369
Q3 25	$260.5K	369
Q4 25	$233.9K	412
Q1 26	$892.4K	412

Revenue / Employee