BFC FY 2023 Earnings Report — Bank First Corporation Revenue & Financial Results | Market Cap Arena

Bank First CorporationBFC

FY 2023 Earnings

Reported February 29, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$186M	—	$131M	—	42.6%
Op. Income	$99M	—	$60M	—	65.7%
Gross Margin	71.2%	—	88.8%	—	-17.6pp
Net Margin	40.0%	—	34.6%	—	5.4pp
EPS (Diluted)	$7.26	—	$5.56	—	30.6%
Free Cash Flow	$39M	—	$33M	—	19.1%

Revenue Flow

Item	Amount
REVENUE	$186M
Cost of Revenue	$54M
GROSS PROFIT	$133M
R&D Expenses	$0
Selling & Marketing	$326.0K
General & Administrative	$42M
SG&A Expenses	$43M
Other Expenses	-$9M
Operating Expenses	$34M
Cost & Expenses	$88M
OPERATING INCOME	$99M
Interest Income	$182M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$99M
Income Tax Expense	$24M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$74M
D&A	$8M
EBIT	$99M
EBITDA	$107M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$186M
Cost of Revenue	$54M
GROSS PROFIT	$133M
R&D Expenses	$0
Selling & Marketing	$326.0K
General & Administrative	$42M
SG&A Expenses	$43M
Other Expenses	-$9M
Operating Expenses	$34M
Cost & Expenses	$88M
OPERATING INCOME	$99M
Interest Income	$182M
Interest Expense	$49M
Other Income/Expenses	$0
INCOME BEFORE TAX	$99M
Income Tax Expense	$24M
Net Income from Continuing Ops	$75M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$75M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$74M
D&A	$8M
EBIT	$99M
EBITDA	$107M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$75M
Depreciation & Amortization	$8M
Stock-Based Compensation	$2M
Deferred Income Tax	-$2M
Other Non-Cash Items	-$43M
Change in Working Capital	$12M
OPERATING CASH FLOW	$53M
Capital Expenditure	-$13M
Acquisitions (Net)	$90M
Purchases of Investments	-$27M
Sales/Maturities of Investments	$255M
Other Investing Activities	-$36M
NET CASH FROM INVESTING	$269M
Net Debt Issuance	$9M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$12M
Other Financing Activities	-$181M
NET CASH FROM FINANCING	-$194M
FREE CASH FLOW	$39M
Net Change in Cash	$128M

Balance Sheet

Item	Amount
Cash & Equivalents	$247M
Short-Term Investments	$160M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$407M
PP&E (Net)	$70M
Goodwill	$175M
Intangible Assets	$41M
Long-Term Investments	$3.4B
Tax Assets	$0
Other Non-Current Assets	$87M
TOTAL NON-CURRENT ASSETS	$3.8B
TOTAL ASSETS	$4.2B
Account Payables	$0
Short-Term Debt	$76M
Deferred Revenue	$0
Other Current Liabilities	$3.4B
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$51M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$42M
TOTAL NON-CURRENT LIABILITIES	$93M
TOTAL LIABILITIES	$3.6B
Common Stock	$115.0K
Additional Paid-In Capital	$334M
Retained Earnings	$348M
Treasury Stock	-$53M
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$620M
Minority Interest	$0
TOTAL EQUITY	$620M
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$127M
Net Debt	-$120M