Intl Bancshares

IBOC · TXSE · Financials · Financials, fiscal 2016 to 2025

IBOC · Last close · October 26, 2026

$66.78

Intl Bancshares' revenue rose 1.0% to $842 million in fiscal 2025. Net income was $412 million, up 0.8%. Its return on equity was 13.6%, down from 15.6% a year earlier. Its efficiency ratio was 36.4%, up from 35.2% a year earlier. It paid out $92 million in dividends and buybacks.

INTERNATIONAL BANCSHARES CORPORATION Latest fiscal year ended December 31, 2025 10-K filed February 26, 2026 · 0001104659-26-020439 Updated October 26, 2026

Revenue

$842M

1.0%

Net income

$412M

0.8%

Return on equity

13.6%

2.0 pts

Return on tangible equity

15.0%

2.4 pts

Efficiency ratio

36.4%

1.3 pts

Market cap

$4.2B

Oct 26 close

P/E

10.1x

On $6.63 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

Revenue and returns

Revenue

US$ billions, fiscal years. Revenue is net of interest expense.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Net income and earnings per share

From fiscal 2016 to 2025, earnings per share grew 14.1% a year and net income 13.3% a year, as buybacks cut the share count by 6%.

Net income

US$ billions, fiscal years; loss years in red.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Efficiency and income mix

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

Payouts and share count

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Valuation

Value Intl Bancshares yourself from its earnings. A bank's cash flow is mostly the money it lends and takes in, so the cash flow model on other company pages doesn't suit it.

Price-to-earnings (P/E) method

Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.

Value per share on three example scenarios, from Intl Bancshares' earnings per share of $6.63 (over the last four quarters). Each grows earnings for a year at the cash flow scenarios' rates and applies a multiple to next year's earnings: 12.9×, the middle of Intl Bancshares' own P/E today, its peers' median and its sector's median (its peers' median) for the base scenario, 20% less and more for the cautious and optimistic ones. The price is brought back a year at 11%, 10% and 9%. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

Earnings per share, US$

Diluted earnings per share over the four quarters to June 30, 2026, from the 10-Qs and 10-K.

P/E multiple

P/E today is the last close divided by the latest earnings per share, the four quarters' where available. Peers: Home BancShares, First Financial Bankshares, United Bankshares, Prosperity Bancshares.

Earnings growth in the years ahead (% a year) Starts at Intl Bancshares' revenue growth over the last 3 years, 7.7% a year, as the base scenario does.

Earnings per share in the years ahead, US$

Year 1Year 2Year 3Year 4Year 5

Type your own estimate for any year; the years after it carry on at the growth rate.

Apply the multiple to earnings

A multiple on a future year's earnings gives the price then, brought back to today at the discount rate below.

Discount rate (% a year) The yearly return an investor wants for the risk, as in the cash flow model.

Value per share today at this multiple

—

Last close, October 26, 2026: $66.78
Value at this multiple, against the last close: —
Intl Bancshares' P/E at the last close: 10.1×

Company	Last close	Earnings per share	P/E today
First Financial BanksharesFFIN	$30.00	$1.87	16.0×
United BanksharesUBSI	$48.92	$3.67	13.3×
Home BancSharesHOMB	$30.07	$2.43	12.4×
Prosperity BancsharesPB	$69.74	$5.77	12.1×
Intl BancsharesIBOC	$66.78	$6.63	10.1×

How the P/E method works. Value per share is earnings per share times the multiple. On a future year's earnings, that gives the price in that year, which is brought back to today at the discount rate: price ÷ (1 + discount rate) for each year ahead. It is quick and easy to compare across companies, but it ignores debt and cash, and earnings can swing with one-off gains and charges, so a multiple says most about steady, profitable businesses. Like the cash flow model, the result depends entirely on the assumptions you choose. It is not a forecast, a price target or a recommendation.

Balance sheet

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	—	7,305	7,902	8,653	9,301
Deposits	12,618	12,660	11,825	12,112	12,436
Loans to deposits	—	57.7%	66.8%	71.4%	74.8%
Provision for credit losses	8	22	35	32	15
Provision to average loans	—	—	0.5%	0.4%	0.2%
Total assets	16,046	15,502	15,066	15,739	16,576
Shareholders' equity	2,308	2,045	2,448	2,797	3,252

US$ millions unless stated, at each fiscal year end.

Insider trades

Over the 12 months between October 27, 2025 and October 26, 2026, no insider bought Intl Bancshares shares on the open market, and 1 insider sold $720,000.

Date	Insider	Trade	Shares	Price	Value	Filing
May 21, 2026	Larry A NortonDirector	Sold	10,000	$72.00	$720,000	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put Intl Bancshares side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
Intl Bancshares	FY25	1.0%	49.0%	13.6%	15.0%	36.4%
Home BancShares	FY25	7.2%	43.6%	11.5%	17.4%	42.0%	Compare
First Financial Bankshares	FY25	14.7%	40.1%	14.4%	17.5%	46.5%	Compare
United Bankshares	FY25	19.6%	37.5%	8.9%	14.1%	48.5%	Compare
Prosperity Bancshares	FY25	4.8%	43.4%	7.2%	13.5%	44.5%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	506	527	578	589	538	594	675	833	834	842
Revenue growth	−0.3%	4.0%	9.8%	1.8%	−8.5%	10.2%	13.7%	23.5%	0.0%	1.0%
Net interest income	345	376	413	434	388	371	488	664	657	672
Noninterest income	162	150	165	155	151	222	187	170	177	170
Noninterest expense	290	294	300	310	281	263	270	275	293	307
Provision for credit losses	—	—	6	19	45	8	22	35	32	15
Net income	134	157	216	205	167	254	300	412	409	412
Diluted EPS (US$)	2.02	2.36	3.24	3.12	2.62	4.00	4.78	6.62	6.57	6.62
Diluted shares (millions)	66	67	67	66	64	64	63	62	62	62
Payouts
Dividends paid	40	44	50	69	70	73	75	78	82	87
Share buybacks	8	0	19	18	49	1	52	5	1	5
Balance sheet at fiscal year end
Loans, net	5,900	6,280	6,500	6,835	—	—	7,305	7,902	8,653	9,301
Deposits	8,610	8,545	8,696	8,826	10,722	12,618	12,660	11,825	12,112	12,436
Total assets	11,804	12,185	11,872	12,113	14,030	16,046	15,502	15,066	15,739	16,576
Shareholders' equity	1,725	1,839	1,940	2,118	2,178	2,308	2,045	2,448	2,797	3,252
Ratios
Return on equity	7.9%	8.8%	11.4%	10.1%	7.8%	11.3%	13.8%	18.3%	15.6%	13.6%
Return on tangible common equity	9.5%	10.5%	13.4%	11.8%	9.0%	12.9%	15.8%	21.0%	17.5%	15.0%
Return on assets	1.1%	1.3%	1.8%	1.7%	1.3%	1.7%	1.9%	2.7%	2.7%	2.5%
Efficiency ratio	57.2%	55.8%	51.8%	52.6%	52.2%	44.4%	40.1%	33.0%	35.2%	36.4%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Intl Bancshares' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Intl Bancshares.