CVBF FY 2018 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$405M	—	$326M	—	24.4%
Op. Income	$211M	—	$189M	—	11.8%
Gross Margin	96.5%	—	100.2%	—	-3.7pp
Net Margin	37.5%	—	32.0%	—	5.5pp
EPS (Diluted)	$1.25	—	$0.95	—	31.6%
Free Cash Flow	$161M	—	$135M	—	19.3%

Revenue Flow

Item	Amount
REVENUE	$405M
Cost of Revenue	$14M
GROSS PROFIT	$391M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$110M
SG&A Expenses	$115M
Other Expenses	$65M
Operating Expenses	$180M
Cost & Expenses	$194M
OPERATING INCOME	$211M
Interest Income	$360M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$211M
Income Tax Expense	$59M
Net Income from Continuing Ops	$152M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$152M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$152M
D&A	$8M
EBIT	$211M
EBITDA	$219M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$405M
Cost of Revenue	$14M
GROSS PROFIT	$391M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$110M
SG&A Expenses	$115M
Other Expenses	$65M
Operating Expenses	$180M
Cost & Expenses	$194M
OPERATING INCOME	$211M
Interest Income	$360M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$211M
Income Tax Expense	$59M
Net Income from Continuing Ops	$152M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$152M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$152M
D&A	$8M
EBIT	$211M
EBITDA	$219M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$152M
Depreciation & Amortization	$8M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	-$4M
Change in Working Capital	$5M
OPERATING CASH FLOW	$165M
Capital Expenditure	-$4M
Acquisitions (Net)	-$133M
Purchases of Investments	-$124M
Sales/Maturities of Investments	$1.2B
Other Investing Activities	-$135M
NET CASH FROM INVESTING	$811M
Net Debt Issuance	-$184M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$66M
Other Financing Activities	-$699M
NET CASH FROM FINANCING	-$956M
FREE CASH FLOW	$161M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$172M
Short-Term Investments	$1.7B
Net Receivables	$157M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$58M
Goodwill	$667M
Intangible Assets	$54M
Long-Term Investments	$8.4B
Tax Assets	$0
Other Non-Current Assets	$249M
TOTAL NON-CURRENT ASSETS	$9.5B
TOTAL ASSETS	$11.5B
Account Payables	$0
Short-Term Debt	$722M
Deferred Revenue	$0
Other Current Liabilities	$8.8B
TOTAL CURRENT LIABILITIES	$9.5B
Long-Term Debt	$26M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$102M
TOTAL NON-CURRENT LIABILITIES	$128M
TOTAL LIABILITIES	$9.7B
Common Stock	$1.3B
Additional Paid-In Capital	$1.3B
Retained Earnings	$576M
Treasury Stock	$0
Accum. Other Comp. Income	-$1.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$11.5B
Total Debt	$748M
Net Debt	$576M