Third Coast Bancshares, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Third Coast Bancshares, 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

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Selling and marketing	0.7	1.33	1.89	1.91	2.63	1.71	2.14
Interest expense	16	14.4	10.1	37.5	127
Pre-tax income	3.23	15.6	14.5	23.2	41.6	61.4	82.7
Income tax	0.85	3.5	3.06	4.51	8.21	13.7	16.5
Net income	2.38	12.1	11.4	18.7	33.4	47.7	66.3
EPS, basic	0.62	1.94	1.45	1.28	2.11	3.14	4.45
EPS, diluted	0.60	1.91	1.40	1.25	1.98	2.78	3.79
Shares, basic (weighted)	3.85	6.23	7.87	13.5	13.6	13.7	13.8
Shares, diluted (weighted)	3.94	6.33	8.14	13.8	16.9	17.1	17.5

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents		201	327	330	297	371	175
Property, plant and equipment		15.2	19	28.7	28.6	26.2	24.8
Lease right-of-use assets				17.9	21.4	19.9	17.1
Goodwill		18	18	18	18		18
Intangible assets		1.45	1.29	1.13	0.97		0.65
Total assets		1,867	2,499	3,773	4,396	4,942	5,341
Total liabilities		1,746	2,200	3,391	3,984	4,482	4,810
Paid-in capital		91.5	249	318	320	322	324
Retained earnings		24.6	36	53.3	78.8	122	183
Treasury stock		-0.98	-1.1	-1.1	-1.1	-1.1	-1.1
Other comprehensive income		0.28	1.39	-2.1	0.93	4.51	10.9
Shareholders' equity	56.5	120	299	382	412	461	531
Total equity	56.5	120	299	382	412	461	531
Total liabilities and equity		1,867	2,499	3,773	4,396	4,942	5,341
Shares outstanding		6.28	13.4	13.5	13.6	13.8	13.9

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	2.38	12.1	11.4	18.7	33.4	47.7	66.3
Depreciation and amortization	0.87	0.08	-0.27	-0.48	-0.47	4.62	4.75
Stock-based compensation	0.23	0.28	0.66	1.28	1.63	1.7	1.61
Deferred income tax		-2.82	-0.38	-1.25	-2.89
Cash from operations	3.59	-3.65	4.58	21.8	39.1	35.1	50.8
Capital expenditures	-2.98	-1.35	-5.62	-12.2	-3.44	-1.77
Acquisitions		16.1
Purchases of investments	-600	-1,924	-1,997	-2,159	-3,117	-4,278	-5,234
Sales and maturities of investments	600	1,903	1,997	2,002	3,104	4,039	5,170
Cash from investing	-122	-500	-500	-1,240	-530	-521	-610
Debt repaid			-32.5	-32.5
Stock issued	0.3	0.39	1	0.67		0.66	0.78
Cash from financing	79.3	611	619	1,223	570	495	319
Net change in cash	-38.8	107	123	4.99	79.8	9.36	-240
Free cash flow	0.61	-5.01	-1.04	9.6	35.6	33.4
Interest paid	15.8	14.9	10.8	35.4	125	166	159
Income taxes paid	0.99	2.66	6.23	7.07	8.57	15.8

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 $43.25 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	18.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.1%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	39.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	52.6%	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	40.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	36.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	44.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.7%	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	44.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	32.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	15.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.6%	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	34.6%	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	8.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	12.3%	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	23.4%	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	2.0%	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	8.3%	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	22.5%	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
Liabilities / assets	90.0%	Total liabilities / total assets.
Goodwill and intangibles / assets	0.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$616.6M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.65	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.
Operating cash flow per share	$1.61	Cash from operations / diluted weighted shares.
Book value per share	$40.31	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$37.06	Tangible book value / shares outstanding.
Cash per share	$24.29	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$720.3M	Share price x shares outstanding.
Enterprise value	$316.2M	Market cap + total debt - cash - short-term investments.
P/E	9.69x	Market cap / net income. Only when net income is positive.
P/B	1.07x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.17x	Market cap / tangible book value, when positive.
P/OCF	22.0x	Market cap / cash from operations, when positive.
Earnings yield	10.3%	Net income / market cap (the inverse of P/E).
PEG	0.22x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

Was Third Coast Bancshares, Inc. profitable in fiscal 2025?

Yes. Net income was $66.3M, a net margin of -.

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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