TRMK

MKT CAP:$3B

Trustmark Corporation

Market Cap

$3B

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

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$44.44+$5.35 (+13.69%)

Apr 24, 2026

Company Details

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three se...

CEO

Thomas C. Owens

IPO Date

Mar 17, 1980

Website

www.trustmark.com

Key Metrics TTM

Revenue

$1.2B

+39.6% YoY

Net Income

$224M

EPS (Diluted)

$3.71

Free Cash Flow

$230M

Revenue / Share

$19.35

Gross Margin

64.7%

Operating Margin

24.2%

Net Margin

19.3%

FCF Margin

19.8%

P/S

2.3x

P/E

11.7x

Earnings Reports

Q1 2026

Apr 28, 2026

PENDING

FY 2025

Feb 23, 2026

$1.1B+34.8%EPS $3.70

Q4 2025

Feb 23, 2026

$283M+11.8%EPS $0.97

Q3 2025

Nov 5, 2025

$383M+46.0%EPS $0.94

Q2 2025

Aug 5, 2025

$249M+245.6%EPS $0.92

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$130M	$128M	$34M
Q2 22	$143M	$138M	$41M
Q3 22	$169M	$149M	$50M
Q4 22	$193M	$151M	-$52M
Q1 23	$224M	$162M	$60M
Q2 23	$227M	$140M	$48M
Q3 23	$237M	$139M	$37M
Q4 23	$254M	$152M	$43M
Q1 24	$244M	$139M	$45M
Q2 24	$72M	-$46M	-$138M
Q3 24	$263M	$159M	$62M
Q4 24	$253M	$162M	$65M
Q1 25	$245M	$162M	$65M
Q2 25	$249M	$166M	$69M
Q3 25	$383M	$218M	$73M
Q4 25	$283M	$205M	$74M

Valuation

Quarter	P/S	P/E
Q1 22	4.7x	21.0x
Q2 22	4.9x	23.6x
Q3 22	4.6x	19.8x
Q4 22	4.1x	36.3x
Q1 23	3.6x	28.1x
Q2 23	3.2x	25.2x
Q3 23	3.0x	27.4x
Q4 23	2.8x	15.8x
Q1 24	2.7x	16.7x
Q2 24	3.2x	14.1x
Q3 24	3.1x	12.9x
Q4 24	3.1x	11.7x
Q1 25	3.1x	11.1x
Q2 25	2.6x	12.0x
Q3 25	2.3x	11.7x
Q4 25	2.3x	11.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$62M	$54M
Q2 22	$89M	$79M
Q3 22	$78M	$69M
Q4 22	$68M	$60M
Q1 23	$3M	-$17M
Q2 23	$24M	$13M
Q3 23	$106M	$96M
Q4 23	$64M	$56M
Q1 24	-$59M	-$66M
Q2 24	$17M	$10M
Q3 24	$60M	$49M
Q4 24	$99M	$95M
Q1 25	$82M	$78M
Q2 25	$38M	$32M
Q3 25	$66M	$76M
Q4 25	$58M	$44M

Capital Expenditures

Quarter	CapEx
Q1 22	$8M
Q2 22	$10M
Q3 22	$9M
Q4 22	$8M
Q1 23	$20M
Q2 23	$11M
Q3 23	$10M
Q4 23	$8M
Q1 24	$7M
Q2 24	$7M
Q3 24	$10M
Q4 24	$4M
Q1 25	$4M
Q2 25	$5M
Q3 25	$10M
Q4 25	$14M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-10.1%	+15.2%
Q2 22	-9.8%	+0.1%
Q3 22	+26.4%	+10.5%
Q4 22	+47.9%	+146.3%
Q1 23	+72.1%	+70.8%
Q2 23	+58.7%	+75.8%
Q3 23	+40.2%	+68.8%
Q4 23	+31.9%	-13.7%
Q1 24	+8.6%	+20.7%
Q2 24	-68.3%	+17.0%
Q3 24	+10.9%	+0.1%
Q4 24	-0.5%	-10.8%
Q1 25	+0.5%	-9.6%
Q2 25	+245.6%	-14.3%
Q3 25	+46.0%	+55.3%
Q4 25	+11.8%	+11.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$1M	1.0%
Q2 22	$1M	0.9%
Q3 22	$1M	0.7%
Q4 22	$1M	0.6%
Q1 23	$2M	0.8%
Q2 23	$2M	0.7%
Q3 23	$1M	0.6%
Q4 23	$1M	0.5%
Q1 24	$2M	0.9%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$5M	1.3%
Q4 25	-$5M	-1.7%

OpEx Breakdown

Quarter	G&A
Q1 22	$71M
Q2 22	$73M
Q3 22	$75M
Q4 22	$76M
Q1 23	$76M
Q2 23	$69M
Q3 23	$71M
Q4 23	$83M
Q1 24	$70M
Q2 24	$70M
Q3 24	$72M
Q4 24	$74M
Q1 25	$73M
Q2 25	$72M
Q3 25	$145M
Q4 25	$90M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.9B	$3.0B	$4.9B
Q2 22	$742M	$2.6B	$3.4B
Q3 22	$480M	$2.4B	$2.9B
Q4 22	$735M	$2.0B	$2.8B
Q1 23	$1.3B	$2.0B	$3.3B
Q2 23	$832M	$1.9B	$2.7B
Q3 23	$750M	$1.8B	$2.5B
Q4 23	$976M	$1.8B	$2.7B
Q1 24	$606M	$1.7B	$2.3B
Q2 24	$822M	$1.6B	$2.4B
Q3 24	$805M	$1.7B	$2.5B
Q4 24	$567M	$1.7B	$2.3B
Q1 25	$587M	$1.7B	$2.3B
Q2 25	$634M	$34M	$668M
Q3 25	$733M	$1.6B	$2.3B
Q4 25	$668M	$1.9B	$2.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	62M	-0.9%	-2.9%
Q2 22	62M	-0.3%	-2.9%
Q3 22	61M	-0.4%	-2.2%
Q4 22	61M	-0.2%	-1.8%
Q1 23	61M	+0.0%	-0.9%
Q2 23	61M	+0.1%	-0.5%
Q3 23	61M	+0.1%	-0.1%
Q4 23	61M	+0.1%	+0.2%
Q1 24	61M	+0.1%	+0.2%
Q2 24	61M	-0.2%	-0.1%
Q3 24	61M	+0.4%	+0.3%
Q4 24	61M	-0.1%	+0.1%
Q1 25	61M	-0.5%	-0.5%
Q2 25	61M	-0.6%	-0.8%
Q3 25	61M	+0.1%	-1.1%
Q4 25	60M	-1.3%	-2.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$48.4K	3K
Q2 22	$53.2K	3K
Q3 22	$62.7K	3K
Q4 22	$70.5K	3K
Q1 23	$81.9K	3K
Q2 23	$83.1K	3K
Q3 23	$86.5K	3K
Q4 23	$92.3K	3K
Q1 24	$88.4K	3K
Q2 24	$26.1K	3K
Q3 24	$95.2K	3K
Q4 24	$101.2K	3K
Q1 25	$97.9K	3K
Q2 25	$99.6K	3K
Q3 25	$153.3K	3K
Q4 25	$111.3K	3K

Revenue / Employee