CVBF FY 2019 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2019 Earnings

Reported March 2, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$506M	—	$405M	—	24.9%
Op. Income	$291M	—	$211M	—	37.9%
Gross Margin	94.7%	—	96.5%	—	-1.9pp
Net Margin	41.0%	—	37.5%	—	3.5pp
EPS (Diluted)	$1.48	—	$1.25	—	18.4%
Free Cash Flow	$203M	—	$161M	—	26.1%

Revenue Flow

Item	Amount
REVENUE	$506M
Cost of Revenue	$27M
GROSS PROFIT	$479M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$129M
SG&A Expenses	$135M
Other Expenses	$52M
Operating Expenses	$188M
Cost & Expenses	$215M
OPERATING INCOME	$291M
Interest Income	$457M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$291M
Income Tax Expense	$83M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$207M
D&A	$22M
EBIT	$291M
EBITDA	$313M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$506M
Cost of Revenue	$27M
GROSS PROFIT	$479M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$129M
SG&A Expenses	$135M
Other Expenses	$52M
Operating Expenses	$188M
Cost & Expenses	$215M
OPERATING INCOME	$291M
Interest Income	$457M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$291M
Income Tax Expense	$83M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$207M
D&A	$22M
EBIT	$291M
EBITDA	$313M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$208M
Depreciation & Amortization	$22M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	-$24M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$208M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$557M
Sales/Maturities of Investments	$638M
Other Investing Activities	$249M
NET CASH FROM INVESTING	$325M
Net Debt Issuance	-$280M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$95M
Other Financing Activities	-$134M
NET CASH FROM FINANCING	-$512M
FREE CASH FLOW	$203M
Net Change in Cash	$22M

Balance Sheet

Item	Amount
Cash & Equivalents	$188M
Short-Term Investments	$1.7B
Net Receivables	$116M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$73M
Goodwill	$664M
Intangible Assets	$43M
Long-Term Investments	$8.2B
Tax Assets	$0
Other Non-Current Assets	$264M
TOTAL NON-CURRENT ASSETS	$9.2B
TOTAL ASSETS	$11.3B
Account Payables	$0
Short-Term Debt	$429M
Deferred Revenue	$0
Other Current Liabilities	$8.7B
TOTAL CURRENT LIABILITIES	$9.1B
Long-Term Debt	$26M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$129M
TOTAL NON-CURRENT LIABILITIES	$155M
TOTAL LIABILITIES	$9.3B
Common Stock	$1.3B
Additional Paid-In Capital	$0
Retained Earnings	$683M
Treasury Stock	$0
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$11.3B
Total Debt	$454M
Net Debt	$266M