CFFI FY 2023 Earnings Report — C&F Financial Corporation Revenue & Financial Results | Market Cap Arena

C&F Financial CorporationCFFI

FY 2023 Earnings

Reported February 27, 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	$150M	—	$123M	—	21.3%
Op. Income	$29M	—	$37M	—	-21.1%
Gross Margin	76.8%	—	91.0%	—	-14.2pp
Net Margin	15.8%	—	23.6%	—	-7.9pp
EPS (Diluted)	$6.92	—	$8.29	—	-16.5%
Free Cash Flow	$37M	—	$87M	—	-57.1%

Revenue Flow

Item	Amount
REVENUE	$150M
Cost of Revenue	$35M
GROSS PROFIT	$115M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$28M
Operating Expenses	$86M
Cost & Expenses	$121M
OPERATING INCOME	$29M
Interest Income	$124M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$29M
Income Tax Expense	$5M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$4M
EBIT	$29M
EBITDA	$33M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$150M
Cost of Revenue	$35M
GROSS PROFIT	$115M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$57M
SG&A Expenses	$58M
Other Expenses	$28M
Operating Expenses	$86M
Cost & Expenses	$121M
OPERATING INCOME	$29M
Interest Income	$124M
Interest Expense	$26M
Other Income/Expenses	$0
INCOME BEFORE TAX	$29M
Income Tax Expense	$5M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$4M
EBIT	$29M
EBITDA	$33M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$24M
Depreciation & Amortization	$4M
Stock-Based Compensation	$2M
Deferred Income Tax	$902.0K
Other Non-Cash Items	$9M
Change in Working Capital	-$1M
OPERATING CASH FLOW	$39M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$39M
Sales/Maturities of Investments	$101M
Other Investing Activities	-$116M
NET CASH FROM INVESTING	-$56M
Net Debt Issuance	$18M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$6M
Other Financing Activities	$62M
NET CASH FROM FINANCING	$66M
FREE CASH FLOW	$37M
Net Change in Cash	$48M

Balance Sheet

Item	Amount
Cash & Equivalents	$75M
Short-Term Investments	$462M
Net Receivables	$10M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$548M
PP&E (Net)	$42M
Goodwill	$25M
Intangible Assets	$1M
Long-Term Investments	$1.7B
Tax Assets	$19M
Other Non-Current Assets	$87M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.4B
Account Payables	$3M
Short-Term Debt	$58M
Deferred Revenue	$0
Other Current Liabilities	$2.1B
TOTAL CURRENT LIABILITIES	$2.1B
Long-Term Debt	$51M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$42M
TOTAL NON-CURRENT LIABILITIES	$93M
TOTAL LIABILITIES	$2.2B
Common Stock	$3M
Additional Paid-In Capital	$7M
Retained Earnings	$234M
Treasury Stock	$0
Accum. Other Comp. Income	-$27M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$217M
Minority Interest	$638.0K
TOTAL EQUITY	$218M
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$110M
Net Debt	$34M