Capital City Bank Group, Inc. (CCBG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+28.4%

$66.68

vs $51.95 price

Levered DCF

$114.45

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.45

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.83×	11.75×	9.56×	16.5×	13.33×	13.07×	16.58×	15.07×
P/B	1.31×	1.25×	1.12×	1.39×	1.13×	1.2×	1.56×	1.31×
P/S	2.6×	2.37×	2.03×	2.75×	2.15×	1.95×	3.19×	2.73×
EV / EBITDA	8.31×	8.62×	7.02×	12.06×	8.19×	7.99×	11×	11.31×
Gross margin	87.1%	84.8%	87.1%	92.8%	99.1%	93.1%	92.8%	93.2%
Operating margin	30.0%	25.0%	26.0%	20.5%	23.9%	25.0%	25.5%	20.4%
Net margin	22.0%	20.2%	21.3%	16.7%	16.1%	14.9%	19.2%	18.1%
Current ratio	1.24×	0.13×	0.11×	0.12×	0.19×	0.12×	0.17×	0.2×
Debt / equity	0.17×	0.17×	0.2×	0.28×	0.22×	0.4×	0.2×	0.25×
Interest coverage	2.56×	1.84×	2.89×	5.96×	14.17×	10.86×	4.29×	4.3×
Dividend yield	2.3%	2.4%	2.6%	2.0%	2.3%	2.3%	1.6%	1.4%
Payout ratio	27.7%	28.2%	24.7%	33.5%	31.3%	30.3%	26.1%	20.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.1%	10.7%	11.7%	8.4%	8.5%	9.2%	9.4%	8.7%
Return on invested capital	1.4%	7.9%	8.4%	5.7%	7.2%	7.3%	6.9%	6.1%
Return on assets	1.4%	1.2%	1.2%	0.7%	0.8%	0.8%	1.0%	0.9%
Free cash flow yield	11.0%	8.8%	9.5%	15.7%	26.3%	-14.1%	9.8%	8.4%
Earnings yield	8.5%	8.5%	10.5%	6.1%	7.5%	7.7%	6.0%	6.6%
Enterprise value	$757.8M	$632.4M	$505.4M	$589M	$468.2M	$480.3M	$517.2M	$408.2M
Net debt / EBITDA	0.34×	0.16×	0.08×	0.78×	0.4×	1.13×	0.12×	0.36×
Cash conversion cycle (days)	13	0	0	0	0	0	0	0