CVBF FY 2022 Earnings Report — CVB Financial Corp. Revenue & Financial Results | Market Cap Arena

CVB Financial Corp.CVBF

FY 2022 Earnings

Reported February 28, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$562M	—	$468M	—	20.1%
Op. Income	$328M	—	$298M	—	10.3%
Gross Margin	96.5%	—	104.4%	—	-7.9pp
Net Margin	41.9%	—	45.4%	—	-3.5pp
EPS (Diluted)	$1.67	—	$1.56	—	7.1%
Free Cash Flow	$268M	—	$191M	—	40.8%

Revenue Flow

Item	Amount
REVENUE	$562M
Cost of Revenue	$20M
GROSS PROFIT	$542M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$132M
SG&A Expenses	$138M
Other Expenses	$76M
Operating Expenses	$214M
Cost & Expenses	$234M
OPERATING INCOME	$328M
Interest Income	$513M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$328M
Income Tax Expense	$93M
Net Income from Continuing Ops	$235M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$235M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$234M
D&A	$14M
EBIT	$328M
EBITDA	$342M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$562M
Cost of Revenue	$20M
GROSS PROFIT	$542M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$132M
SG&A Expenses	$138M
Other Expenses	$76M
Operating Expenses	$214M
Cost & Expenses	$234M
OPERATING INCOME	$328M
Interest Income	$513M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$328M
Income Tax Expense	$93M
Net Income from Continuing Ops	$235M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$235M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$234M
D&A	$14M
EBIT	$328M
EBITDA	$342M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$235M
Depreciation & Amortization	$14M
Stock-Based Compensation	$8M
Deferred Income Tax	$0
Other Non-Cash Items	$27M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$274M
Capital Expenditure	-$5M
Acquisitions (Net)	$329M
Purchases of Investments	-$1.8B
Sales/Maturities of Investments	$663M
Other Investing Activities	-$359M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$993M
Common Stock Repurchased	-$116M
Common Dividends Paid	-$104M
Other Financing Activities	-$1.4B
NET CASH FROM FINANCING	-$626M
FREE CASH FLOW	$268M
Net Change in Cash	-$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$213M
Short-Term Investments	$3.3B
Net Receivables	$314M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.8B
PP&E (Net)	$69M
Goodwill	$766M
Intangible Assets	$22M
Long-Term Investments	$11.5B
Tax Assets	$0
Other Non-Current Assets	$295M
TOTAL NON-CURRENT ASSETS	$12.7B
TOTAL ASSETS	$16.5B
Account Payables	$433.0K
Short-Term Debt	$1.6B
Deferred Revenue	$0
Other Current Liabilities	$12.8B
TOTAL CURRENT LIABILITIES	$14.4B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$131M
TOTAL NON-CURRENT LIABILITIES	$131M
TOTAL LIABILITIES	$14.5B
Common Stock	$1.3B
Additional Paid-In Capital	$0
Retained Earnings	$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$355M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$16.5B
Total Debt	$1.6B
Net Debt	$1.3B