SmartFinancial, Inc.
NYSE: SMBK · FINANCIAL SERVICES · BANKS - REGIONAL
Updated 2026-06-04
SmartFinancial, Inc. (SMBK) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.27M | $36.48M | $32.57M | $28.64M | $28.29M | $21.68M | $20.37M | $20.39M | $21.32M | $29.25M | $45.59M | $55.65M | $96.74M | $115.17M | $133.04M | $149.18M | $186.55M | $240.37M | $285.27M | $316.37M |
| Revenue growth (YoY) | — | +16.7% | -10.7% | -12.1% | -1.2% | -23.4% | -6.0% | +0.1% | +4.5% | +37.2% | +55.9% | +22.1% | +73.8% | +19.1% | +15.5% | +12.1% | +25.0% | +28.8% | +18.7% | +10.9% |
| Cost of revenue | $11.41M | $24.82M | $16.20M | $26.09M | $16.49M | $6.81M | $5.21M | $3.82M | $2.47M | $3.68M | $5.09M | $6.48M | $18.50M | $27.17M | $25.43M | $13.47M | $25.35M | $90.99M | $118.92M | $123.48M |
| Gross profit | $19.86M | $11.66M | $16.38M | $2.55M | $11.80M | $14.87M | $15.16M | $16.57M | $18.85M | $25.57M | $40.51M | $49.18M | $78.24M | $88.00M | $107.61M | $135.71M | $161.20M | $149.38M | $166.35M | $192.88M |
| Gross margin | 63.5% | 32.0% | 50.3% | 8.9% | 41.7% | 68.6% | 74.4% | 81.3% | 88.4% | 87.4% | 88.8% | 88.4% | 80.9% | 76.4% | 80.9% | 91.0% | 86.4% | 62.1% | 58.3% | 61.0% |
| R&D | — | — | — | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $6.02M | $6.61M | $7.46M | $8.17M | $7.48M | $7.17M | $7.13M | $7.20M | $10.20M | $13.52M | $20.21M | $23.08M | $33.32M | $38.77M | $44.10M | $53.49M | $66.09M | $68.91M | $75.49M | $92.94M |
| Operating income | $9.14M | $730037.00 | $3.81M | $-13.51M | $-6.24M | $1.22M | $1.98M | $2.72M | $2.95M | $3.15M | $9.16M | $11.44M | $21.34M | $33.45M | $30.89M | $44.32M | $54.91M | $36.23M | $45.46M | $61.50M |
| Operating margin | 29.2% | 2.0% | 11.7% | -47.2% | -22.1% | 5.6% | 9.7% | 13.4% | 13.8% | 10.8% | 20.1% | 20.6% | 22.1% | 29.0% | 23.2% | 29.7% | 29.4% | 15.1% | 15.9% | 19.4% |
| EBITDA | $10.13M | $1.34M | $4.50M | $-12.56M | $-5.69M | $1.73M | $2.51M | $3.23M | $4.63M | $4.24M | $11.35M | $9.75M | $24.63M | $37.74M | $38.65M | $53.32M | $67.55M | $49.72M | $56.87M | $69.93M |
| EBITDA margin | 32.4% | 3.7% | 13.8% | -43.8% | -20.1% | 8.0% | 12.3% | 15.8% | 21.7% | 14.5% | 24.9% | 17.5% | 25.5% | 32.8% | 29.1% | 35.7% | 36.2% | 20.7% | 19.9% | 22.1% |
| EBIT | $9.14M | $730037.00 | $3.81M | $-13.51M | $-6.24M | $1.22M | $1.98M | $2.72M | $2.95M | $3.15M | $9.16M | $11.44M | $21.34M | $33.45M | $30.89M | $44.32M | $54.91M | $36.23M | $45.46M | $61.50M |
| Interest expense | $10.31M | $14.41M | $12.70M | $11.19M | $9.20M | $6.36M | $4.78M | $3.52M | $2.04M | $2.76M | $4.30M | $5.69M | $15.57M | $24.57M | $16.75M | $11.84M | $21.33M | $87.96M | $113.77M | $119.87M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $5.81M | $871152.00 | $2.51M | $-8.18M | $-4.71M | $1.03M | $1.40M | $1.68M | $1.83M | $1.51M | $5.80M | $5.02M | $18.10M | $26.55M | $24.33M | $34.79M | $43.02M | $28.59M | $36.14M | $50.35M |
| Net income growth (YoY) | — | -85.0% | +188.3% | -425.6% | +42.4% | +121.9% | +36.1% | +19.9% | +9.0% | -17.6% | +284.1% | -13.5% | +261.0% | +46.7% | -8.3% | +43.0% | +23.7% | -33.5% | +26.4% | +39.3% |
| Profit margin | 18.6% | 2.4% | 7.7% | -28.6% | -16.6% | 4.8% | 6.9% | 8.2% | 8.6% | 5.2% | 12.7% | 9.0% | 18.7% | 23.1% | 18.3% | 23.3% | 23.1% | 11.9% | 12.7% | 15.9% |
Frequently asked questions
What is SmartFinancial, Inc.'s revenue?
SmartFinancial, Inc.'s trailing twelve-month revenue is $196.53M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is SMBK?
In its most recent fiscal year, SMBK ran a gross margin of 60.97%, an operating margin of 19.44%, and a net margin of 15.91%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does SMBK generate?
SMBK produced $59.34M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is SMBK's balance sheet healthy?
SMBK holds $464.42M in cash and equivalents against $98.66M in long-term debt, on $552.38M of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.