SSB
SouthState Corporation
SSB's fundamentals are strong: its operating margin rose 7 points to 44% and earnings per share grew 29%. At 11x earnings, it's trading below its usual 13x. Analysts expect earnings growth.
SSB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
SSB's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like SSB.
SSB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 10x | $104 | — |
| Cheap | 11x | $100 | -3.8% |
| Current | 11x | $104 | — |
| Fair | 13x | $119 | +14% |
| Expensive | 16x | $154 | +48% |
Historical ranges are pointers, not guarantees.
SSB's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 10x next year's earnings.
SSB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for SSB, with profitability improving.
SSB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.95 | +5.8% |
| Q3 2026 | $9.40 | +29% |
| Q2 2026 | $9.52 | +42% |
| Q1 2026 | $9.28 | +46% |
| Q4 2025 | $7.87 | +13% |
| Q3 2025 | $7.28 | +12% |
| Q2 2025 | $6.72 | +7.7% |
| Q1 2025 | $6.34 | +3.4% |
| Q4 2024 | $6.97 | +7.9% |
SSB's earnings per share have climbed steadily: $9.40 over the past year, up 29% from the year before, and higher year over year for eight quarters in a row.
SSB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $685.4M | -1.9% |
| Q2 2026 | $672.7M | +1.2% |
| Q1 2026 | $661.7M | +4.9% |
| Q4 2025 | $686.9M | +53% |
| Q3 2025 | $698.8M | +64% |
| Q2 2025 | $664.8M | +56% |
| Q1 2025 | $630.6M | +52% |
| Q4 2024 | $450.3M | +7.3% |
SSB's revenue is growing: $685M last quarter, down 1.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 42% | -3.6 points |
| Q2 2026 | 44% | +2 points |
| Q1 2026 | 44% | +25 points |
| Q4 2025 | 46% | +4.3 points |
| Q3 2025 | 46% | +2.2 points |
| Q2 2025 | 42% | +1.8 points |
| Q1 2025 | 19% | -18 points |
| Q4 2024 | 42% | +9.1 points |
SSB's operating margin was 42% last quarter, down 3.6 points from the same quarter a year ago.
SSB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $739M | +626% |
| Q2 2026 | $260.3M | +396% |
| Q1 2026 | $283M | +$422M |
| Q4 2025 | $215.5M | -37% |
| Q3 2025 | $101.7M | +$355.9M |
| Q2 2025 | $52.5M | -55% |
| Q1 2025 | -$139.1M | -151% |
| Q4 2024 | $340.9M | +$627.7M |
SSB's free cash flow was $1.5B over the past year, about four times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like SSB.
SSB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -248K shares |
| 1 year | -4.2% | -4.3M shares |
| 3 years | +27% | +21M shares |
| 5 years | +36% | +26M shares |
| Available history | +180% | +62.6M shares |
SSB has 97M diluted shares, down 4.2% from a year ago, with $466M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $26.3M |
| Q2 2026 | $98M |
| Q1 2026 | $160.4M |
| Q4 2025 | $181.5M |
| Q3 2025 | $43M |
| Q2 2025 | $97,000 |
| Q1 2025 | $11.2M |
| Q4 2024 | $75,000 |
SSB spent $466M buying back its own shares over the past year, about nine times what it spent the year before.
SSB Net Leverage
SSB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.6 | Neutral |
| Stochastic | 47.6 | Neutral |
SSB's weekly RSI is 54 (neutral) and its Stochastic is 48 (neutral).
SSB PE vs Financial Services Sector
| Metric | SSB | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 15% below |
| PE % | 24 | 63 | 39 pts below |
SSB is trading at 11x earnings, a 15% discount to the Financial Services sector's median of 13x.
SSB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $103.2 | 1.1% above |
| 20 week MA | $104.5 | 0.1% below |
| 50 week MA | $100.0 | 4.4% above |
| 100 week MA | $97.1 | 7.5% above |
| 200 week MA | $88.8 | 18% above |
SSB's trend is mixed: it's above four of its five weekly moving averages, and 18% above its 200-week average.
SSB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $86.8 | $74.0 | -15% |
| 2021 | $74.0 | $79.0 | +6.8% |
| 2022 | $79.0 | $76.8 | -2.9% |
| 2023 | $76.8 | $84.5 | +10% |
| 2024 | $84.5 | $100.6 | +19% |
| 2025 | $100.6 | $95.8 | -4.8% |
| 2026 YTD | $95.8 | $104.4 | +9% |
SSB has finished lower in three of the last six years. It's up 9% so far in 2026.