FBNC FY 2021 Earnings Report — First Bancorp Revenue & Financial Results | Market Cap Arena

First BancorpFBNC

FY 2021 Earnings

Reported March 1, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$325M	—	$318M	—	2.0%
Op. Income	$120M	—	$103M	—	16.7%
Gross Margin	92.4%	—	82.9%	—	9.6pp
Net Margin	29.4%	—	25.6%	—	3.9pp
EPS (Diluted)	$2.68	—	$2.81	—	-4.6%
Free Cash Flow	$133M	—	$46M	—	189.2%

Revenue Flow

Item	Amount
REVENUE	$325M
Cost of Revenue	$25M
GROSS PROFIT	$300M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$107M
SG&A Expenses	$110M
Other Expenses	$70M
Operating Expenses	$180M
Cost & Expenses	$205M
OPERATING INCOME	$120M
Interest Income	$256M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$120M
Income Tax Expense	$25M
Net Income from Continuing Ops	$96M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$96M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$14M
EBIT	$120M
EBITDA	$134M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$325M
Cost of Revenue	$25M
GROSS PROFIT	$300M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$107M
SG&A Expenses	$110M
Other Expenses	$70M
Operating Expenses	$180M
Cost & Expenses	$205M
OPERATING INCOME	$120M
Interest Income	$256M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$120M
Income Tax Expense	$25M
Net Income from Continuing Ops	$96M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$96M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$14M
EBIT	$120M
EBITDA	$134M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$96M
Depreciation & Amortization	$14M
Stock-Based Compensation	$2M
Deferred Income Tax	-$5M
Other Non-Cash Items	$19M
Change in Working Capital	$16M
OPERATING CASH FLOW	$142M
Capital Expenditure	-$9M
Acquisitions (Net)	$209M
Purchases of Investments	-$1.8B
Sales/Maturities of Investments	$478M
Other Investing Activities	-$105M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	-$6M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$22M
Other Financing Activities	$1.3B
NET CASH FROM FINANCING	$1.2B
FREE CASH FLOW	$133M
Net Change in Cash	$94M

Balance Sheet

Item	Amount
Cash & Equivalents	$461M
Short-Term Investments	$2.6B
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$157M
Goodwill	$364M
Intangible Assets	$18M
Long-Term Investments	$6.6B
Tax Assets	$0
Other Non-Current Assets	$256M
TOTAL NON-CURRENT ASSETS	$7.4B
TOTAL ASSETS	$10.5B
Account Payables	$607.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$9.1B
TOTAL CURRENT LIABILITIES	$9.1B
Long-Term Debt	-$2M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$134M
TOTAL NON-CURRENT LIABILITIES	$153M
TOTAL LIABILITIES	$9.3B
Common Stock	$723M
Additional Paid-In Capital	$0
Retained Earnings	$533M
Treasury Stock	-$2M
Accum. Other Comp. Income	-$25M
Other Equity	$2M
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$10.5B
Total Debt	$20M
Net Debt	-$442M