Smartfinancial (SMBK) Q4 FY2024 earnings: revenue $47 million, up 19.7% on the year
Smartfinancial Inc. (SMBK) reported revenue of $47 million for Q4 FY2024, the quarter ended 31 December 2024, up 19.7% on the same quarter a year earlier. Net income was $10 million, up 55.7% on the year, and diluted earnings per share $0.57. The figures are the company's own, from the 10-K it filed with the SEC on 17 March 2025.
Revenue$47 millionup 19.7%
Net income$10 millionup 55.7%
Diluted EPS$0.57
QuarterQ4 FY2024ended 31 December 2024
The quarter, against the one before and a year earlier
| Line | Q4 FY2024 | Q3 FY2024 | Q4 FY2023 | Change on the year |
|---|---|---|---|---|
| Revenue | 46.8 | 44.2 | 39.1 | +19.7% |
| Interest expense | n/a | n/a | 26.0 | n/a |
| Pre-tax income | 12.4 | 10.8 | 7.8 | +58.2% |
| Income tax | 2.7 | 1.6 | 1.6 | +67.5% |
| Effective tax rate | 22.2% | 15.0% | 20.9% | |
| Net income | 9.6 | 9.1 | 6.2 | +55.7% |
| Net margin | 20.6% | 20.7% | 15.8% | |
| Diluted EPS | $0.57 | $0.54 | $0.37 | +54.1% |
$ million except per share.
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Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow and capital returned
| Line | Q4 FY2024 | Q3 FY2024 | Q4 FY2023 | Change on the year |
|---|---|---|---|---|
| Operating cash flow | 16.7 | 12.4 | 11.7 | +42.5% |
| Capital expenditure | 1.3 | 1.1 | 2.3 | -40.9% |
| Free cash flow | 15.4 | 11.3 | 9.5 | +62.4% |
| Cash from investing | -184 | -161 | -78.6 | n/a |
| Cash from financing | 362 | -1.8 | 18.9 | +1809.8% |
| Depreciation and amortisation | 2.1 | 2.2 | 2.5 | -16.5% |
| Share-based compensation | 0.4 | 0.4 | 0.2 | +109.8% |
| Buybacks | n/a | -0.0 | n/a | n/a |
| Dividends paid | 1.4 | 1.4 | 1.4 | -0.1% |
| Dividend per share | n/a | $0.08 | n/a | n/a |
| Diluted shares, weighted | 17m | 17m | 17m | -0.3% |
| Shares outstanding at period end | 17m | 17m | 17m | -0.4% |
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet at quarter end
| Line | Q4 FY2024 | Q3 FY2024 | Q4 FY2023 | Change on the year |
|---|---|---|---|---|
| Shareholders' equity | 491 | 489 | 460 | +6.8% |
| Non-controlling interest | 0.1 | n/a | n/a | n/a |
| Deposits | 4,686 | 4,322 | 4,268 | +9.8% |
| Debt | 47.8 | 48.7 | 55.2 | -13.3% |
| Other liabilities | 50.1 | 48.8 | 46.5 | +7.9% |
| Total liabilities and equity | 5,276 | 4,909 | 4,829 | +9.2% |
| Fixed assets | 91.1 | 91.1 | 93.0 | -2.0% |
| Goodwill | 96.1 | 96.1 | 96.1 | -0.0% |
| Intangible assets | 8.6 | 9.2 | 11.0 | -22.0% |
| Securities held for sale or to maturity | 609 | 629 | 690 | -11.7% |
| Loans | 3,869 | 3,682 | 3,409 | +13.5% |
| Cash and equivalents | 388 | 193 | 352 | +10.0% |
| Other assets | 215 | 209 | 178 | +20.6% |
| Total assets | 5,276 | 4,909 | 4,829 | +9.2% |
Questions
What was Smartfinancial's revenue in Q4 FY2024?
Smartfinancial (SMBK) reported revenue of $47 million for Q4 FY2024, the quarter ended 31 December 2024, up 19.7% on the same quarter a year earlier.
How much did Smartfinancial earn in Q4 FY2024?
Net income for Q4 FY2024 was $10 million, up 55.7% on the year, and diluted earnings per share $0.57.
When did Smartfinancial report Q4 FY2024 results?
Smartfinancial filed its 10-K for the year that ended with the quarter on 17 March 2025; the fourth quarter is the year less the first three.
Quarterly results, the last 20 quarters
| Q3 FY2021 | Q4 FY2021 * | Q1 FY2022 | Q2 FY2022 | Q3 FY2022 | Q4 FY2022 * | Q1 FY2023 | Q2 FY2023 | Q3 FY2023 | Q4 FY2023 * | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 * | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 * | Q1 FY2026 | Q2 FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 36.7 | 36.7 | 37.2 | 40.3 | 43.0 | 44.7 | 42.9 | 38.7 | 31.7 | 39.1 | 40.1 | 40.4 | 44.2 | 46.8 | 46.8 | 49.2 | 51.1 | 53.3 | 53.8 | 56.0 |
| Interest expense | 2.9 | 2.9 | 2.8 | 3.2 | 5.6 | 9.7 | 17.2 | 20.5 | 24.3 | 26.0 | 28.1 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Pre-tax income | 12.2 | 8.4 | 10.5 | 13.1 | 14.8 | 16.5 | 14.8 | 11.2 | 2.4 | 7.8 | 12.0 | 10.3 | 10.8 | 12.4 | 13.6 | 14.3 | 17.0 | 16.7 | 16.8 | 20.5 |
| Tax rate | 22% | 21% | 21% | 22% | 22% | 21% | 22% | 21% | 13% | 21% | 22% | 23% | 15% | 22% | 17% | 18% | 19% | 18% | 18% | 21% |
| Net income | 9.6 | 6.7 | 8.3 | 10.2 | 11.5 | 13.0 | 11.5 | 8.8 | 2.1 | 6.2 | 9.4 | 8.0 | 9.1 | 9.6 | 11.3 | 11.7 | 13.7 | 13.7 | 13.7 | 16.3 |
| Net margin | 26% | 18% | 22% | 25% | 27% | 29% | 27% | 23% | 7% | 16% | 23% | 20% | 21% | 21% | 24% | 24% | 27% | 26% | 25% | 29% |
| Diluted EPS | $0.61 | $0.38 | $0.49 | $0.61 | $0.68 | $0.77 | $0.68 | $0.52 | $0.12 | $0.37 | $0.55 | $0.48 | $0.54 | $0.57 | $0.67 | $0.69 | $0.81 | $0.81 | $0.81 | $0.96 |
| Operating cash flow | 14.4 | 0.6 | 10.7 | 17.7 | 13.2 | 15.2 | 11.4 | 10.0 | 6.7 | 11.7 | 7.1 | 16.5 | 12.4 | 16.7 | 14.3 | 14.0 | 16.9 | 16.5 | 16.4 | 23.7 |
| Capital expenditure | n/a | 1.8 | 0.9 | 6.5 | 3.3 | 1.8 | 1.6 | 1.5 | 1.0 | 2.3 | 2.9 | 1.1 | 1.1 | 1.3 | 0.9 | 0.8 | 0.3 | 0.4 | 6.2 | 1.2 |
| Free cash flow | n/a | -1.1 | 9.8 | 11.2 | 9.8 | 13.4 | 9.8 | 8.5 | 5.7 | 9.5 | 4.2 | 15.4 | 11.3 | 15.4 | 13.4 | 13.2 | 16.6 | 16.2 | 10.2 | 22.5 |
| Buybacks | 0.0 | 0.0 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | -0.0 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Dividends paid | 0.9 | 1.0 | 1.2 | 1.2 | 1.2 | 1.2 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.5 |
| Shares outstanding | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m |
| Filing | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q |
Each quarter as filed, linked to its filing.
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* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.10-K for the period ended 31 December 2024, filed 17 March 2025: the filing.