Valuation, from the filing
| Public float | $2.98B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $56.58 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 14.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 3.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
14.2× earnings today, against a median of 16.0× across 4 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $2.98B | 14.2× | |
| 2024-06-28 | $2.46B | 13.5× | |
| 2023-06-30 | $2.48B | 18.8× | |
| 2022-06-30 | $3.35B | 17.8× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the National Commercial Banks filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| SBC / revenue | 1.3% | 15th | |
| Effective tax rate | 23.6% | 83th | |
| Net margin | 25.7% | 22th | |
| FCF margin | 28.5% | 25th | |
| Revenue YoY growth | 9.0% | 64th | |
| CapEx / revenue | 8.4% | 50th |
COMMUNITY FINANCIAL SYSTEM, INC. (CBU) reported revenue of $818.01M and net income of $210.46M for the fiscal year ended 2025-12-31. This page shows 4 annual periods of income statement, balance sheet and cash flow figures normalized from COMMUNITY FINANCIAL SYSTEM, INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under National Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenue | $818.01M | $750.49M | $652.12M | $679.36M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $210.46M | $182.48M | $131.92M | $188.08M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 52.82M | shares 52.88M | shares 53.72M | shares 54.21M |
| Pretax income | $275.39M | $236.70M | $168.23M | $240.31M |
| Income tax expense | $64.94M | $54.22M | $36.31M | $52.23M |
| Diluted EPS | $3.97 | $3.44 | $2.45 | $3.46 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash & equivalents | $301.76M | $197.00M | $190.96M | $209.90M |
| Total assets | $17.30B | $16.39B | $15.56B | $15.84B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $15.30B | $14.62B | $13.86B | $14.28B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $2.01B | $1.76B | $1.70B | $1.55B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $887.98M | $853.22M | $845.40M | $841.84M |
| Long-term debt | Unavailable | $990.20M | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Operating cash flow | $301.86M | $242.28M | $228.42M | $214.60M |
| Capital expenditures | $68.53M | $20.70M | $18.58M | $12.92M |
| Investing cash flow | -$182.10M | -$835.62M | $335.78M | -$2.14B |
| Financing cash flow | -$15.00M | $599.38M | -$583.13M | $259.22M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | $10.86M | $8.37M | $9.27M | $7.74M |
| Common dividends paid | $97.56M | $95.78M | $95.10M | $93.39M |
| Common share repurchases | $11.17M | $45.84M | $30.02M | $16.61M |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Free cash flow | $233.33M | $221.57M | $209.84M | $201.68M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 28.5% | 29.5% | 32.2% | 29.7% |
| SBC / revenue | 1.3% | 1.1% | 1.4% | 1.1% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 9.0% | 15.1% | -4.0% | Unavailable |
| Net margin | 25.7% | 24.3% | 20.2% | 27.7% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 8.4% | 2.8% | 2.8% | 1.9% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 23.6% | 22.9% | 21.6% | 21.7% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open CBU in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.