CPF FY 2021 Earnings Report — Central Pacific Financial Corp. Revenue & Financial Results | Market Cap Arena

Central Pacific Financial Corp.CPF

FY 2021 Earnings

Reported February 23, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$260M	—	$258M	—	0.9%
Op. Income	$106M	—	$49M	—	115.5%
Gross Margin	102.7%	—	77.9%	—	24.8pp
Net Margin	30.7%	—	14.5%	—	16.3pp
EPS (Diluted)	$2.83	—	$1.32	—	114.4%
Free Cash Flow	$88M	—	$51M	—	73.9%

Revenue Flow

Item	Amount
REVENUE	$260M
Cost of Revenue	-$7M
GROSS PROFIT	$267M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$96M
SG&A Expenses	$103M
Other Expenses	$59M
Operating Expenses	$161M
Cost & Expenses	$154M
OPERATING INCOME	$106M
Interest Income	$218M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$106M
Income Tax Expense	$26M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$10M
EBIT	$106M
EBITDA	$116M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$260M
Cost of Revenue	-$7M
GROSS PROFIT	$267M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$96M
SG&A Expenses	$103M
Other Expenses	$59M
Operating Expenses	$161M
Cost & Expenses	$154M
OPERATING INCOME	$106M
Interest Income	$218M
Interest Expense	$8M
Other Income/Expenses	$0
INCOME BEFORE TAX	$106M
Income Tax Expense	$26M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$10M
EBIT	$106M
EBITDA	$116M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$80M
Depreciation & Amortization	$10M
Stock-Based Compensation	$3M
Deferred Income Tax	$11M
Other Non-Cash Items	$4M
Change in Working Capital	$2M
OPERATING CASH FLOW	$110M
Capital Expenditure	-$22M
Acquisitions (Net)	-$3M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$573M
Other Investing Activities	-$136M
NET CASH FROM INVESTING	-$662M
Net Debt Issuance	-$22M
Common Stock Repurchased	-$19M
Common Dividends Paid	-$27M
Other Financing Activities	$843M
NET CASH FROM FINANCING	$777M
FREE CASH FLOW	$88M
Net Change in Cash	$225M

Balance Sheet

Item	Amount
Cash & Equivalents	$329M
Short-Term Investments	$1.6B
Net Receivables	$17M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$120M
Goodwill	$0
Intangible Assets	$10M
Long-Term Investments	$5.1B
Tax Assets	$0
Other Non-Current Assets	$245M
TOTAL NON-CURRENT ASSETS	$5.4B
TOTAL ASSETS	$7.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$6.6B
TOTAL CURRENT LIABILITIES	$6.6B
Long-Term Debt	$106M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$75M
TOTAL NON-CURRENT LIABILITIES	$222M
TOTAL LIABILITIES	$6.9B
Common Stock	$426M
Additional Paid-In Capital	$98M
Retained Earnings	$42M
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$558M
Minority Interest	$48.0K
TOTAL EQUITY	$558M
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$146M
Net Debt	-$183M