Valuation, from the filing
| Public float | $3.57B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $80.80 | 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 | 10.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.0× | 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
10.8× earnings today, against a median of 13.3× across 10 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $3.57B | 10.8× | |
| 2024-06-30 | $2.78B | 35.9× | |
| 2023-06-30 | $2.45B | 12.9× | |
| 2022-06-30 | $2.61B | 7.9× | |
| 2021-06-30 | $3.19B | 12.6× | |
| 2020-06-30 | $1.55B | 23.3× | |
| 2019-06-28 | $3.07B | 9.8× | |
| 2018-06-29 | $4.57B | 15.6× | |
| 2017-06-30 | $4.47B | 22.8× | |
| 2016-06-30 | $2.13B | 13.7× |
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 State 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 | |
|---|---|---|---|
| Effective tax rate | 23.7% | 76th | |
| Long-term debt / equity | 0.17x | 56th |
TEXAS CAPITAL BANCSHARES INC/TX (TCBI) reported net income of $103.70M for the fiscal year ended 2026-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from TEXAS CAPITAL BANCSHARES INC/TX’s SEC filings, each linked to the filing it came from. It is classified by the SEC under State 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 | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $103.70M | $84.95M | $73.79M | $100.66M | $105.21M | $77.33M | $47.05M | $71.02M | -$61.32M | $41.66M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 43.61M | shares 44.06M | shares 44.60M | Unavailable | shares 46.23M | shares 46.22M | shares 46.62M | Unavailable | shares 46.61M | shares 46.87M |
| Pretax income | $135.70M | $112.00M | $94.42M | $132.28M | $137.78M | $102.19M | $60.46M | $93.52M | -$79.99M | $58.60M |
| Income tax expense | $32.00M | $27.05M | $20.63M | $31.63M | $32.57M | $24.86M | $13.41M | $22.50M | -$18.67M | $16.94M |
| Diluted EPS | $2.28 | $1.83 | $1.56 | Unavailable | $2.18 | $1.58 | $0.92 | Unavailable | $-1.41 | $0.80 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total assets | $32.35B | $33.91B | $33.49B | $31.54B | $32.54B | $31.94B | $31.38B | $30.73B | $31.63B | $29.85B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $28.86B | $30.27B | $29.88B | $27.91B | $28.90B | $28.43B | $27.95B | $27.36B | $28.28B | $26.68B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $3.49B | $3.65B | $3.61B | $3.63B | $3.64B | $3.51B | $3.43B | $3.37B | $3.35B | $3.18B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | Unavailable | Unavailable | $1.50M | Unavailable | Unavailable | Unavailable | $1.50M | Unavailable | Unavailable |
| Long-term debt | $487.27M | $500.86M | $878.29M | $620.58M | $620.42M | $620.26M | $660.52M | $660.35M | $660.17M | $660.00M |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $207.26M | $103.49M | $87.53M | $130.49M | $166.30M | $63.00M | $368.00K | $18.23M | $332.77M | $33.27M |
| Capital expenditures | -$855.00K | $10.00M | $1.36M | -$341.00K | $4.95M | $5.54M | $2.42M | $7.41M | $15.19M | $22.20M |
| Investing cash flow | $430.79M | $304.78M | -$1.14B | $36.16M | -$245.67M | -$1.62B | -$23.62M | -$240.19M | -$456.42M | -$971.50M |
| Financing cash flow | -$1.66B | $333.39M | $1.91B | -$1.13B | $454.05M | $445.66M | $636.92M | -$780.82M | $1.40B | $535.17M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | $7.85M | $9.77M | $17.50M | $8.14M | $8.24M | $7.63M | $12.75M | $3.48M | $6.45M | $6.22M |
| Common dividends paid | $8.59M | Unavailable | Unavailable | Unavailable | $0 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $103.01M | $23.57M | $75.14M | $126.62M | $7.08M | $21.01M | $31.15M | -$26.00K | $0 | $50.01M |
| Depreciation & amortization | $11.70M | $15.55M | $12.82M | $15.88M | $12.62M | $14.45M | $9.22M | $15.31M | $14.08M | $13.93M |
Derived
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | $93.50M | $86.17M | Unavailable | $161.34M | $57.45M | -$2.05M | $10.82M | $317.58M | $11.07M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.14x | Unavailable | Unavailable | 0.17x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 23.6% | 24.2% | 21.8% | 23.9% | 23.6% | 24.3% | 22.2% | 24.1% | Unavailable | 28.9% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open TCBI 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.