CVBF FY 2015 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2015 Earnings

Reported February 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$295M	—	$289M	—	2.0%
Op. Income	$151M	—	$163M	—	-7.0%
Gross Margin	99.2%	—	100.3%	—	-1.2pp
Net Margin	33.6%	—	36.0%	—	-2.3pp
EPS (Diluted)	$0.93	—	$0.98	—	-5.1%
Free Cash Flow	$104M	—	$86M	—	20.9%

Revenue Flow

Item	Amount
REVENUE	$295M
Cost of Revenue	$2M
GROSS PROFIT	$293M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$79M
SG&A Expenses	$84M
Other Expenses	$58M
Operating Expenses	$141M
Cost & Expenses	$144M
OPERATING INCOME	$151M
Interest Income	$259M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$151M
Income Tax Expense	$52M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	-$1M
EBIT	$151M
EBITDA	$150M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$295M
Cost of Revenue	$2M
GROSS PROFIT	$293M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$79M
SG&A Expenses	$84M
Other Expenses	$58M
Operating Expenses	$141M
Cost & Expenses	$144M
OPERATING INCOME	$151M
Interest Income	$259M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$151M
Income Tax Expense	$52M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	-$1M
EBIT	$151M
EBITDA	$150M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$99M
Depreciation & Amortization	-$1M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$7M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$106M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$695M
Sales/Maturities of Investments	$576M
Other Investing Activities	-$180M
NET CASH FROM INVESTING	-$301M
Net Debt Issuance	-$200M
Common Stock Repurchased	-$834.0K
Common Dividends Paid	-$49M
Other Financing Activities	$445M
NET CASH FROM FINANCING	$195M
FREE CASH FLOW	$104M
Net Change in Cash	$329.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$139M
Short-Term Investments	$2.4B
Net Receivables	$144M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$31M
Goodwill	$74M
Intangible Assets	$2M
Long-Term Investments	$4.7B
Tax Assets	$0
Other Non-Current Assets	$161M
TOTAL NON-CURRENT ASSETS	$5.0B
TOTAL ASSETS	$7.7B
Account Payables	$264.0K
Short-Term Debt	$737M
Deferred Revenue	$0
Other Current Liabilities	$5.9B
TOTAL CURRENT LIABILITIES	$6.7B
Long-Term Debt	$26M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$68M
TOTAL NON-CURRENT LIABILITIES	$94M
TOTAL LIABILITIES	$6.7B
Common Stock	$503M
Additional Paid-In Capital	$503M
Retained Earnings	$400M
Treasury Stock	$0
Accum. Other Comp. Income	-$482M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$923M
Minority Interest	$0
TOTAL EQUITY	$923M
TOTAL LIABILITIES & EQUITY	$7.7B
Total Debt	$762M
Net Debt	$624M