Stock Yards Bancorp, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Stock Yards Bancorp, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	23.8	20.5	21.5	22.6	23.4
Selling and marketing	2.46	2.72	3.1	3.63	2.38	4.15	5.01	5.99	6.92	7.53
Interest expense	4.92	7.25	15.4	22.5	12	6	18.3	99.4
Pre-tax income	56.3	55.2	67.5	75.7	67.7	95.4	120	138	144	178
Income tax	15.2	17.1	12	9.59	8.87	20.8	27.2	30.2	29.8	38
Net income to minority interests					0	0	0.32	0	0
Net income	41	38	55.5	66.1	58.9	74.6	93	108	115	140
EPS, basic	1.84	1.69	2.45	2.92	2.61	3.00	3.24	3.69	3.91	4.77
EPS, diluted	1.80	1.66	2.42	2.89	2.59	2.97	3.21	3.67	3.89	4.75
Shares, basic (weighted)	22.4	22.5	22.6	22.6	22.6	24.9	28.7	29.2	29.3	29.4
Shares, diluted (weighted)	22.8	23	22.9	22.9	22.8	25.2	28.9	29.3	29.4	29.5
Dividend per share	0.72	0.80					1.14	1.18	1.22	1.26

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	48	139	199	250
Property, plant and equipment	42.4	41.7	44.8	58.6	58	76.9	102	101	113	119
Lease right-of-use assets			0	12.7	12.1			21	29.7	31.2
Goodwill	0.68	0.68	0.68	12.5	12.5	136	194	194	194	194
Intangible assets			1.06	2.29	1.96	5.6				12.2
Total assets	3,039	3,240	3,303	3,724	4,609	6,646	7,496	8,170	8,863	9,536
Total liabilities	2,726	2,906	2,936	3,318	4,168	5,970	6,736	7,312	7,923	8,460
Total debt							26.3	26.7	26.8	26.8
Paid-in capital	26.7	31.9	36.8	35.7	41.9	243	378	386	395	403
Retained earnings	252	267	298	334	354	391	440	506	578	675
Other comprehensive income	-1.5	-1.93	-5.14	0.68	8.74	-7.94	-116	-92.8	-91.2	-61.3
Shareholders' equity	314	334	367	406	441	676	760	858	940	1,076
Minority interests						0
Total equity	314	334	367	406	441	676	760	858	940	1,076
Total liabilities and equity	3,039	3,240	3,303	3,724	4,609	6,646	7,496	8,170	8,863	9,536
Shares outstanding	22.6	22.7	22.7	22.6	22.7	26.6	29.3	29.3	29.4	29.5

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	41	38	55.5	66.1	58.9	74.6	93.3	108	115	140
Depreciation and amortization	11.1	13.6	5.78	4.88	9.74	11.3	20.7	21.9	13.4	7.8
Stock-based compensation	2.47	2.89	4.03	3.58	3.26	4.57	4.39	4.46	3.77	4.41
Deferred income tax	0.28	3.97	-0.27	-5.85	-7.51	5.49	1.82	-0.44	-3.12	-2.83
Cash from operations	63.3	53.7	65.9	58.4	77.1	102	109	107	143	166
Capital expenditures	-6.33	-2.79	-7.06	-5.1	-5.46	-4.58	-18.4	-7.73	-9.85	-12
Acquisitions		0	0	-24.7	0	25	349	0	0
Purchases of investments	-479	-661	-768	-702	-455	-505	-196	-6.03	-397	-595
Sales and maturities of investments	468	652	902	678	349	210	169	144	435	913
Cash from investing	-290	-115	-11.6	-163	-805	-78.9	-384	-424	-677	-107
Stock issued	2.34
Share buybacks	-1.92	-2.39	-2	-11.8	-2.27	-3.83	-4.81	-2.7	-4.22	-2.09
Dividends paid	-16.1	-18.1	-21.8	-23.5	-24.5	-28.2	-33.3	-34.6	-35.8	-37.1
Cash from financing	170	152	5.37	156	796	620	-518	416	559	536
Net change in cash	-55.9	91.3	59.7	50.8	68.2	643	-794	98.6	25.1	595
Free cash flow	56.9	50.9	58.8	53.3	71.7	97.5	90.3	99	133	154
Interest paid	4.9	7.16	14.8	22.2	12.2	6.09	17.9	97.9	156	167
Income taxes paid	12.9	15.8	7.23	13.9	12.5	14.3	20.9	35.3	19.4	21.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $78.57 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	21.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.4%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	22.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	14.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	18.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	22.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	14.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	12.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	16.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	15.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	15.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	19.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	16.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	3.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	3.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	14.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	19.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	15.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.02x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.3%	Total debt / total assets.
Liabilities / assets	88.0%	Total liabilities / total assets.
Goodwill and intangibles / assets	2.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$975.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	98.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	8.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.89	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$4.82	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.25	Cash from operations / diluted weighted shares.
Book value per share	$40.12	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$31.39	Tangible book value / shares outstanding.
Payout ratio	25.6%	Dividends paid / net income, when net income is positive.
Dividends / FCF	25.9%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	1.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.44B	Share price x shares outstanding.
Enterprise value	$2.47B	Market cap + total debt - cash - short-term investments.
P/E	16.3x	Market cap / net income. Only when net income is positive.
P/B	1.96x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.50x	Market cap / tangible book value, when positive.
P/FCF	16.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	15.2x	Market cap / cash from operations, when positive.
EV/FCF	16.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.0%	Free cash flow / market cap.
Earnings yield	6.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.6%	Dividends paid over the period / market cap.
Shareholder yield	1.6%	(Dividends paid + share buybacks) / market cap.
PEG	1.17x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

Was Stock Yards Bancorp, Inc. profitable in fiscal 2025?

Yes. Net income was $140.2M, a net margin of -.

How much free cash flow did Stock Yards Bancorp, Inc. generate in fiscal 2025?

Cash from operations of $166.0M minus capital expenditures of $12.0M left free cash flow of $154.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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