CZFS FY 2022 Earnings Report — Citizens Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Citizens Financial Services, Inc.CZFS

FY 2022 Earnings

Reported March 9, 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	$93M	—	$86M	—	8.9%
Op. Income	$35M	—	$35M	—	0.5%
Gross Margin	86.1%	—	89.9%	—	-3.7pp
Net Margin	31.2%	—	34.0%	—	-2.8pp
EPS (Diluted)	$7.10	—	$7.09	—	0.1%
Free Cash Flow	$32M	—	$38M	—	-15.9%

Revenue Flow

Item	Amount
REVENUE	$93M
Cost of Revenue	$13M
GROSS PROFIT	$80M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$29M
SG&A Expenses	$29M
Other Expenses	$16M
Operating Expenses	$45M
Cost & Expenses	$58M
OPERATING INCOME	$35M
Interest Income	$83M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$35M
Income Tax Expense	$6M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$1M
EBIT	$35M
EBITDA	$37M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$93M
Cost of Revenue	$13M
GROSS PROFIT	$80M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$29M
SG&A Expenses	$29M
Other Expenses	$16M
Operating Expenses	$45M
Cost & Expenses	$58M
OPERATING INCOME	$35M
Interest Income	$83M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$35M
Income Tax Expense	$6M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$1M
EBIT	$35M
EBITDA	$37M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$1M
Stock-Based Compensation	$336.0K
Deferred Income Tax	-$36.0K
Other Non-Cash Items	$4M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$33M
Capital Expenditure	-$2M
Acquisitions (Net)	-$1M
Purchases of Investments	-$133M
Sales/Maturities of Investments	$49M
Other Investing Activities	-$275M
NET CASH FROM INVESTING	-$362M
Net Debt Issuance	$183M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$8M
Other Financing Activities	$8M
NET CASH FROM FINANCING	$183M
FREE CASH FLOW	$32M
Net Change in Cash	-$147M

Balance Sheet

Item	Amount
Cash & Equivalents	$32M
Short-Term Investments	$440M
Net Receivables	$7M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$479M
PP&E (Net)	$18M
Goodwill	$31M
Intangible Assets	$1M
Long-Term Investments	$1.7B
Tax Assets	$13M
Other Non-Current Assets	$65M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.3B
Account Payables	$1M
Short-Term Debt	$231M
Deferred Revenue	$0
Other Current Liabilities	$1.6B
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$27M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.1B
TOTAL NON-CURRENT LIABILITIES	$288M
TOTAL LIABILITIES	$2.1B
Common Stock	$4M
Additional Paid-In Capital	$81M
Retained Earnings	$165M
Treasury Stock	-$17M
Accum. Other Comp. Income	-$33M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$200M
Minority Interest	$0
TOTAL EQUITY	$200M
TOTAL LIABILITIES & EQUITY	$2.3B
Total Debt	$257M
Net Debt	$225M