FBP FY 2018 Earnings Report — First BanCorp. Revenue & Financial Results | Market Cap Arena

First BanCorp.FBP

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$669M	—	$621M	—	7.7%
Op. Income	$191M	—	$62M	—	207.6%
Gross Margin	76.3%	—	61.3%	—	15.0pp
Net Margin	30.2%	—	10.8%	—	19.4pp
EPS (Diluted)	$0.92	—	$0.30	—	206.7%
Free Cash Flow	$268M	—	$227M	—	18.2%

Revenue Flow

Item	Amount
REVENUE	$669M
Cost of Revenue	$159M
GROSS PROFIT	$510M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$182M
SG&A Expenses	$196M
Other Expenses	$123M
Operating Expenses	$319M
Cost & Expenses	$478M
OPERATING INCOME	$191M
Interest Income	$625M
Interest Expense	$100M
Other Income/Expenses	$0
INCOME BEFORE TAX	$191M
Income Tax Expense	-$11M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$202M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$199M
D&A	$19M
EBIT	$191M
EBITDA	$209M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$669M
Cost of Revenue	$159M
GROSS PROFIT	$510M
R&D Expenses	$0
Selling & Marketing	$15M
General & Administrative	$182M
SG&A Expenses	$196M
Other Expenses	$123M
Operating Expenses	$319M
Cost & Expenses	$478M
OPERATING INCOME	$191M
Interest Income	$625M
Interest Expense	$100M
Other Income/Expenses	$0
INCOME BEFORE TAX	$191M
Income Tax Expense	-$11M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$202M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$199M
D&A	$19M
EBIT	$191M
EBITDA	$209M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$202M
Depreciation & Amortization	$19M
Stock-Based Compensation	$6M
Deferred Income Tax	-$25M
Other Non-Cash Items	$73M
Change in Working Capital	$14M
OPERATING CASH FLOW	$288M
Capital Expenditure	-$21M
Acquisitions (Net)	$0
Purchases of Investments	-$511M
Sales/Maturities of Investments	$441M
Other Investing Activities	-$133M
NET CASH FROM INVESTING	-$223M
Net Debt Issuance	-$146M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$7M
Other Financing Activities	-$37M
NET CASH FROM FINANCING	-$195M
FREE CASH FLOW	$268M
Net Change in Cash	-$130M

Balance Sheet

Item	Amount
Cash & Equivalents	$579M
Short-Term Investments	$1.8B
Net Receivables	$384M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$148M
Goodwill	$28M
Intangible Assets	$38M
Long-Term Investments	$8.6B
Tax Assets	$320M
Other Non-Current Assets	$485M
TOTAL NON-CURRENT ASSETS	$9.5B
TOTAL ASSETS	$12.2B
Account Payables	$130M
Short-Term Debt	$150M
Deferred Revenue	$0
Other Current Liabilities	$9.0B
TOTAL CURRENT LIABILITIES	$9.3B
Long-Term Debt	$924M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$924M
TOTAL LIABILITIES	$10.2B
Common Stock	$22M
Additional Paid-In Capital	$940M
Retained Earnings	$1.1B
Treasury Stock	-$455.0K
Accum. Other Comp. Income	-$40M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$12.2B
Total Debt	$1.1B
Net Debt	$495M