EFSC FY 2023 Earnings Report — Enterprise Financial Services Corp Revenue & Financial Results | Market Cap Arena

Enterprise Financial Services CorpEFSC

FY 2023 Earnings

Reported February 26, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$744M	—	$534M	—	39.3%
Op. Income	$247M	—	$259M	—	-5.0%
Gross Margin	67.9%	—	92.4%	—	-24.5pp
Net Margin	26.1%	—	38.0%	—	-11.9pp
EPS (Diluted)	$5.07	—	$5.31	—	-4.5%
Free Cash Flow	$262M	—	$215M	—	21.9%

Revenue Flow

Item	Amount
REVENUE	$744M
Cost of Revenue	$239M
GROSS PROFIT	$505M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$178M
SG&A Expenses	$178M
Other Expenses	$80M
Operating Expenses	$258M
Cost & Expenses	$497M
OPERATING INCOME	$247M
Interest Income	$764M
Interest Expense	$202M
Other Income/Expenses	$0
INCOME BEFORE TAX	$247M
Income Tax Expense	$52M
Net Income from Continuing Ops	$194M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$194M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$190M
D&A	$11M
EBIT	$247M
EBITDA	$258M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$744M
Cost of Revenue	$239M
GROSS PROFIT	$505M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$178M
SG&A Expenses	$178M
Other Expenses	$80M
Operating Expenses	$258M
Cost & Expenses	$497M
OPERATING INCOME	$247M
Interest Income	$764M
Interest Expense	$202M
Other Income/Expenses	$0
INCOME BEFORE TAX	$247M
Income Tax Expense	$52M
Net Income from Continuing Ops	$194M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$194M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$190M
D&A	$11M
EBIT	$247M
EBITDA	$258M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$194M
Depreciation & Amortization	$11M
Stock-Based Compensation	$10M
Deferred Income Tax	$1M
Other Non-Cash Items	$43M
Change in Working Capital	$9M
OPERATING CASH FLOW	$268M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$490M
Sales/Maturities of Investments	$376M
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	-$126M
Common Stock Repurchased	$0
Common Dividends Paid	-$37M
Other Financing Activities	$1.3B
NET CASH FROM FINANCING	$1.2B
FREE CASH FLOW	$262M
Net Change in Cash	$142M

Balance Sheet

Item	Amount
Cash & Equivalents	$434M
Short-Term Investments	$1.6B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$43M
Goodwill	$365M
Intangible Assets	$12M
Long-Term Investments	$11.6B
Tax Assets	$0
Other Non-Current Assets	$488M
TOTAL NON-CURRENT ASSETS	$12.5B
TOTAL ASSETS	$14.5B
Account Payables	$0
Short-Term Debt	$250M
Deferred Revenue	$0
Other Current Liabilities	$12.2B
TOTAL CURRENT LIABILITIES	$12.4B
Long-Term Debt	$204M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$172M
TOTAL NON-CURRENT LIABILITIES	$376M
TOTAL LIABILITIES	$12.8B
Common Stock	$374.0K
Additional Paid-In Capital	$995M
Retained Earnings	$750M
Treasury Stock	$0
Accum. Other Comp. Income	-$101M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$14.5B
Total Debt	$454M
Net Debt	$20M