CVBF FY 2014 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2014 Earnings

Reported March 2, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$289M	—	$257M	—	12.5%
Op. Income	$163M	—	$144M	—	12.8%
Gross Margin	100.3%	—	99.9%	—	0.4pp
Net Margin	36.0%	—	37.2%	—	-1.2pp
EPS (Diluted)	$0.98	—	$0.91	—	7.7%
Free Cash Flow	$86M	—	$109M	—	-21.6%

Revenue Flow

Item	Amount
REVENUE	$289M
Cost of Revenue	-$961.0K
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$77M
SG&A Expenses	$82M
Other Expenses	$46M
Operating Expenses	$127M
Cost & Expenses	$127M
OPERATING INCOME	$163M
Interest Income	$251M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$163M
Income Tax Expense	$59M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$103M
D&A	$832.0K
EBIT	$163M
EBITDA	$164M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$289M
Cost of Revenue	-$961.0K
GROSS PROFIT	$290M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$77M
SG&A Expenses	$82M
Other Expenses	$46M
Operating Expenses	$127M
Cost & Expenses	$127M
OPERATING INCOME	$163M
Interest Income	$251M
Interest Expense	$16M
Other Income/Expenses	$0
INCOME BEFORE TAX	$163M
Income Tax Expense	$59M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$103M
D&A	$832.0K
EBIT	$163M
EBITDA	$164M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$104M
Depreciation & Amortization	$832.0K
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	-$10M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$88M
Capital Expenditure	-$2M
Acquisitions (Net)	$50M
Purchases of Investments	-$806M
Sales/Maturities of Investments	$425M
Other Investing Activities	$63M
NET CASH FROM INVESTING	-$269M
Net Debt Issuance	-$23M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$42M
Other Financing Activities	$263M
NET CASH FROM FINANCING	$192M
FREE CASH FLOW	$86M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$133M
Short-Term Investments	$3.1B
Net Receivables	$132M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$34M
Goodwill	$74M
Intangible Assets	$3M
Long-Term Investments	$3.7B
Tax Assets	$0
Other Non-Current Assets	$169M
TOTAL NON-CURRENT ASSETS	$4.0B
TOTAL ASSETS	$7.4B
Account Payables	$1M
Short-Term Debt	$610M
Deferred Revenue	$0
Other Current Liabilities	$5.6B
TOTAL CURRENT LIABILITIES	$6.2B
Long-Term Debt	$225M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$59M
TOTAL NON-CURRENT LIABILITIES	$284M
TOTAL LIABILITIES	$6.5B
Common Stock	$495M
Additional Paid-In Capital	$495M
Retained Earnings	$352M
Treasury Stock	$0
Accum. Other Comp. Income	-$464M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$878M
Minority Interest	$0
TOTAL EQUITY	$878M
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$835M
Net Debt	$702M