Stellar Bancorp, Inc.
NYSE: STEL · FINANCIAL SERVICES · BANKS - REGIONAL
Updated 2026-06-05
Stellar Bancorp, Inc. (STEL) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $117.52M | $123.66M | $129.22M | $148.74M | $170.56M | $249.92M | $261.75M | $343.35M | $615.38M | $625.45M | $596.26M |
| Revenue growth (YoY) | — | +5.2% | +4.5% | +15.1% | +14.7% | +46.5% | +4.7% | +31.2% | +79.2% | +1.6% | -4.7% |
| Cost of revenue | $14.60M | $12.98M | $8.55M | $9.34M | $19.79M | $66.45M | $22.30M | $84.75M | $163.00M | $191.53M | $183.01M |
| Gross profit | $102.92M | $110.68M | $120.67M | $139.39M | $150.77M | $183.47M | $239.45M | $258.60M | $452.38M | $433.92M | $413.25M |
| Gross margin | 87.6% | 89.5% | 93.4% | 93.7% | 88.4% | 73.4% | 91.5% | 75.3% | 73.5% | 69.4% | 69.3% |
| R&D | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $49.18M | $52.34M | $57.00M | $59.36M | $63.57M | $83.08M | $93.58M | $112.47M | $168.07M | $172.93M | $186.43M |
| Operating income | $34.93M | $39.22M | $44.02M | $58.65M | $62.09M | $55.97M | $99.89M | $62.52M | $161.88M | $144.96M | $127.78M |
| Operating margin | 29.7% | 31.7% | 34.1% | 39.4% | 36.4% | 22.4% | 38.2% | 18.2% | 26.3% | 23.2% | 21.4% |
| EBITDA | $39.88M | $43.64M | $48.46M | $62.95M | $67.53M | $63.61M | $107.44M | $76.78M | $196.35M | $176.99M | $127.78M |
| EBITDA margin | 33.9% | 35.3% | 37.5% | 42.3% | 39.6% | 25.5% | 41.0% | 22.4% | 31.9% | 28.3% | 21.4% |
| EBIT | $34.93M | $39.22M | $44.02M | $58.65M | $62.09M | $55.97M | $99.89M | $62.52M | $161.88M | $144.96M | — |
| Interest expense | $7.65M | $8.40M | $8.88M | $11.10M | $17.41M | $39.08M | $24.62M | $34.04M | $154.06M | $194.41M | $172.85M |
| 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% |
| Net income | $24.14M | $27.21M | $27.57M | $47.29M | $50.52M | $45.53M | $81.55M | $51.43M | $130.50M | $115.00M | $102.87M |
| Net income growth (YoY) | — | +12.7% | +1.3% | +71.5% | +6.8% | -9.9% | +79.1% | -36.9% | +153.7% | -11.9% | -10.5% |
| Profit margin | 20.5% | 22.0% | 21.3% | 31.8% | 29.6% | 18.2% | 31.2% | 15.0% | 21.2% | 18.4% | 17.3% |
Frequently asked questions
What is Stellar Bancorp, Inc.'s revenue?
Stellar Bancorp, Inc.'s trailing twelve-month revenue is $420.67M. 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 STEL?
In its most recent fiscal year, STEL ran a gross margin of 69.31%, an operating margin of 21.43%, and a net margin of 17.25%. 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 STEL generate?
STEL produced $92.61M 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 STEL's balance sheet healthy?
STEL holds $419.45M in cash and equivalents against $40.23M in long-term debt, on $1.67B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.