Reported Q: Q2 2024 Rev YoY: +89.4% EPS YoY: +20.0% Move: 0.00%
Security Federal
SFDL
$34.51 0.00%
Exchange OTC Sector Financial Services Industry Banks Regional
Q2 2024
Published: Aug 9, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for SFDL

Reported

Report Date

Aug 9, 2024

Quarter Q2 2024

Revenue

20.88M

YoY: +89.4%

EPS

0.66

YoY: +20.0%

Market Move

0.00%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $20.88M up 89.4% year-over-year
  • EPS of $0.66 increased by 20% from previous year
  • Gross margin of 101.9%
  • Net income of 2.23M
  • "" -
SFDL
Company SFDL

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Executive Summary

Security Federal Corporation (SFDL) delivered a notably stronger QQ2 2024 than the prior-year period, highlighted by a steep topline expansion and continued liquidity strength. Revenue reached $20.88 million, up 89.38% year over year (YoY) and 74.44% quarter over quarter (QoQ), while net income rose to $2.23 million and diluted earnings per share (EPS) to $0.66, up 25.0% YoY and 22.2% QoQ. The improvement in profitability is evidenced by operating income of $2.79 million and an operating margin of 13.37%, with EBITDA of $3.43 million and a net income margin of approximately 10.7%. However, the company still exhibits a relatively modest return profile (ROA ~0.14%, ROE ~1.27%), underscoring a business model that prioritizes liquidity and balance sheet strength over high earnings leverage. The quarterly cash flow profile shows a positive operating cash flow of $2.03 million and a robust balance sheet with cash and cash equivalents of $138.35 million and total assets of $1.543 billion. Net debt is negative ($-85.86 million), reflecting meaningful net cash, which affords financial flexibility for balance sheet optimization, loan growth initiatives, or selective investments. Financing activities contributed significantly to cash flow, with net cash provided by financing activities of $22.33 million and a total net change in cash of $45.58 million during the quarter. Free cash flow available to equity, however, is reported as negative on a per-share basis in the provided metrics, warranting closer inspection of working capital dynamics and capital deployment.

Key Performance Indicators

Revenue
Increasing
20.88M
QoQ: 74.44% | YoY: 89.38%
Gross Profit
Increasing
21.27M
1.02% margin
QoQ: 1.11% | YoY: 87.02%
Operating Income
Increasing
2.79M
QoQ: 19.63% | YoY: 24.27%
Net Income
Increasing
2.23M
QoQ: 26.98% | YoY: 25.20%
EPS
Increasing
0.66
QoQ: 22.22% | YoY: 20.00%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 21.29 0.81 +77.9% View
Q4 2024 22.65 0.94 +71.9% View
Q3 2024 21.77 0.62 +93.2% View
Q2 2024 20.88 0.66 +89.4% View
Q1 2024 11.97 0.54 -3.8% View