Southern First Bancshares Inc. (SFST) intrinsic value & 10-year financials
Southern First Bancshares Inc. (SFST) has a Graham intrinsic value of $75.42 per share. At $59.81 on Oct 17, 2026, the stock trades 21% below that value. Over the last 10 fiscal years revenue shrank 0.9% a year to $6.3M, with an average return on invested capital of 9.3%.
- Graham intrinsic value
- $75.42
- Share price (Oct 17, 2026)
- $59.81
- Price vs Graham value
- 21% below
- Market cap
- $488.1M
- Revenue (FY2025)
- $6.3M
- Revenue growth (10-yr CAGR)
- -0.9%
- ROIC (10-yr avg)
- 9.3%
- Free cash flow (FY2025)
- $29.9M
SFST 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.3M | $30.4M | $3.72 | $29.9M | — | — |
| FY2024 | $5.6M | $15.5M | $1.91 | $24.8M | — | — |
| FY2023 | $4.0M | $13.4M | $1.66 | $16.4M | — | — |
| FY2022 | $4.2M | $29.1M | $3.61 | $36.4M | — | 9.3% |
| FY2021 | $11.4M | $46.7M | $5.85 | $51.6M | — | — |
| FY2020 | $19.8M | $18.3M | $2.34 | $13.3M | — | — |
| FY2019 | $9.9M | $27.9M | $3.58 | $9.9M | — | — |
| FY2018 | $5.5M | $22.3M | $2.88 | $29.8M | — | — |
| FY2017 | $5.2M | $13.0M | $1.76 | $11.8M | — | — |
| FY2016 | $6.8M | $13.0M | $1.94 | $11.7M | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SOUTHERN FIRST BANCSHARES INC is facing top-line stagnation, with revenue contracting over the decade.
SOUTHERN FIRST BANCSHARES INC returns on capital have been average, hovering around 9.3% ROIC over the decade.
SOUTHERN FIRST BANCSHARES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SOUTHERN FIRST BANCSHARES INC is modeled at 7.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $75.42 per share.