1st Source Corp

Finance
Major Banks
www.1stsource.com

Earnings Score
Safety Score

Market Cap $1.57B
PE 12
Debt $165.68M
Cash $169.36M
EV $1.57B
FCF $195.26M

Earnings

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Sales & Net Margins

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Earnings	$129.61M
EBIT	$305.78M
ROE	11%
ROA	3%
FCF	$195.26M
Equity	$1.18B
Growth Stability	100%
PE	12.12
PEG	1.1
PB	1.34
P/FCF	8.05
Price/Cash	0.11
Debt/Equity	0.14
Debt/FCF	0.85
Earnings CAGR	9%
FCF CAGR	9%
Equity CAGR	6%
Earnings Stability	0.74
Earnings Growth YoY	6%
Earnings Growth QoQ	-5%

Earnings CAGR 5Y	11%
FCF CAGR 5Y	5%
Equity CAGR 5Y	5%
FCF CAGR 3Y	5%
Equity CAGR 3Y	9%
Market Cap	$1.57B
Dividend Yield	2%
Payout Ratio	27%
Assets	$8.76B
Total Debt	$165.68M
Cash	$169.36M
Shares Outstanding	24.49M
EV	1.57B
Earnings Score	89%
Safety Score	97%
Shares Growth 3y	-1%
Equity Growth QoQ	5%
Equity Growth YoY	20%

Assets & ROA

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Stockholders Equity & ROE

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1st Source Corp along with its subsidiary offers banking services. The bank provides Commercial, Agricultural, and Real Estate Loans which are given to privately owned business clients mainly located within regional market area, Consumer Services that consists of full range of consumer banking products and services, Trust and Wealth Advisory Services which includes wide range of trust, investment, agency, and custodial services for individual, corporate, and not-for-profit clients, and Specialty Finance Group Services that provide a broad range of comprehensive equipment loan and lease products addressing the financing needs of a broad array of companies.

SEC Filings

Direct access to 1st Source Corp (SRCE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does 1st Source Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of 1st Source Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 9%

Stability 74%

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1st Source Corp Discounted Cash Flow

Fully customizable DCF calculator online for 1st Source Corp.

Years

Calculation mode

= $3.5B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$195M	$212M	$230M	$249M	$271M	$294M	$319M	$346M	$375M	$407M	$442M	$4.4B
DCF		$193M	$190M	$187M	$185M	$182M	$180M	$177M	$175M	$173M	$170M	$1.7B
Value	$3.5B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-	-	-	-	-	-	-	-	-	-	-
ROA	-	2%	2%	2%	2%	3%	2%	2%	2%	3%	3%
ROE	-	9%	9%	9%	11%	11%	9%	12%	13%	12%	11%

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.55	3.28	1.6	1.27	0.93	0.99	1.22	1.24	1.72	0.85
Debt over Equity	0.4	0.36	0.43	0.3	0.26	0.17	0.16	0.21	0.23	0.29	0.14
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%	100%

Good Debt/FCF ratio (0.85)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.14)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	-	-	-	-	-	-	-	-	-
Earnings YoY growth	-	-1%	1%	18%	22%	12%	-11%	46%	2%	4%	11%
Equity YoY growth	-	5%	4%	7%	6%	11%	10%	4%	-5%	16%	5%
FCF YoY growth	-	25%	-3%	51%	17%	-0%	-3%	8%	6%	5%	5%