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

First Financial Bancorp.FFBC

FY 2021 Earnings

Reported February 18, 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	$655M	—	$714M	—	-8.3%
Op. Income	$241M	—	$184M	—	30.7%
Gross Margin	98.0%	—	80.5%	—	17.5pp
Net Margin	31.3%	—	21.8%	—	9.5pp
EPS (Diluted)	$2.14	—	$1.59	—	34.6%
Free Cash Flow	$373M	—	$92M	—	305.7%

Revenue Flow

Item	Amount
REVENUE	$655M
Cost of Revenue	$13M
GROSS PROFIT	$642M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$252M
SG&A Expenses	$260M
Other Expenses	$141M
Operating Expenses	$401M
Cost & Expenses	$414M
OPERATING INCOME	$241M
Interest Income	$483M
Interest Expense	$31M
Other Income/Expenses	$0
INCOME BEFORE TAX	$241M
Income Tax Expense	$36M
Net Income from Continuing Ops	$205M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$205M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$205M
D&A	$40M
EBIT	$241M
EBITDA	$280M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$655M
Cost of Revenue	$13M
GROSS PROFIT	$642M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$252M
SG&A Expenses	$260M
Other Expenses	$141M
Operating Expenses	$401M
Cost & Expenses	$414M
OPERATING INCOME	$241M
Interest Income	$483M
Interest Expense	$31M
Other Income/Expenses	$0
INCOME BEFORE TAX	$241M
Income Tax Expense	$36M
Net Income from Continuing Ops	$205M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$205M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$205M
D&A	$40M
EBIT	$241M
EBITDA	$280M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$205M
Depreciation & Amortization	$40M
Stock-Based Compensation	$10M
Deferred Income Tax	$12M
Other Non-Cash Items	$3M
Change in Working Capital	$119M
OPERATING CASH FLOW	$388M
Capital Expenditure	-$15M
Acquisitions (Net)	-$109M
Purchases of Investments	-$2.4B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	$453M
NET CASH FROM INVESTING	-$510M
Net Debt Issuance	-$334M
Common Stock Repurchased	-$108M
Common Dividends Paid	-$87M
Other Financing Activities	$640M
NET CASH FROM FINANCING	$111M
FREE CASH FLOW	$373M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$435M
Short-Term Investments	$4.2B
Net Receivables	$110M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.8B
PP&E (Net)	$254M
Goodwill	$1.0B
Intangible Assets	$104M
Long-Term Investments	$9.3B
Tax Assets	$0
Other Non-Current Assets	$940M
TOTAL NON-CURRENT ASSETS	$11.6B
TOTAL ASSETS	$16.3B
Account Payables	$492M
Short-Term Debt	$319M
Deferred Revenue	$0
Other Current Liabilities	$12.9B
TOTAL CURRENT LIABILITIES	$13.7B
Long-Term Debt	$385M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$387M
TOTAL LIABILITIES	$14.1B
Common Stock	$1.6B
Additional Paid-In Capital	$0
Retained Earnings	$837M
Treasury Stock	-$218M
Accum. Other Comp. Income	-$433.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$16.3B
Total Debt	$706M
Net Debt	$271M