FFIN FY 2017 Earnings Report — First Financial Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

First Financial Bankshares, Inc.FFIN

FY 2017 Earnings

Reported February 16, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$329M	—	$309M	—	6.3%
Op. Income	$147M	—	$136M	—	8.3%
Gross Margin	95.2%	—	94.9%	—	0.3pp
Net Margin	36.6%	—	33.9%	—	2.7pp
EPS (Diluted)	$0.91	—	$0.80	—	13.7%
Free Cash Flow	$176M	—	$140M	—	25.5%

Revenue Flow

Item	Amount
REVENUE	$329M
Cost of Revenue	$16M
GROSS PROFIT	$313M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$99M
SG&A Expenses	$103M
Other Expenses	$63M
Operating Expenses	$166M
Cost & Expenses	$181M
OPERATING INCOME	$147M
Interest Income	$247M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$147M
Income Tax Expense	$27M
Net Income from Continuing Ops	$120M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$120M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$120M
D&A	$13M
EBIT	$147M
EBITDA	$160M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$329M
Cost of Revenue	$16M
GROSS PROFIT	$313M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$99M
SG&A Expenses	$103M
Other Expenses	$63M
Operating Expenses	$166M
Cost & Expenses	$181M
OPERATING INCOME	$147M
Interest Income	$247M
Interest Expense	$9M
Other Income/Expenses	$0
INCOME BEFORE TAX	$147M
Income Tax Expense	$27M
Net Income from Continuing Ops	$120M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$120M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$120M
D&A	$13M
EBIT	$147M
EBITDA	$160M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$120M
Depreciation & Amortization	$13M
Stock-Based Compensation	$0
Deferred Income Tax	-$53.0K
Other Non-Cash Items	$36M
Change in Working Capital	$21M
OPERATING CASH FLOW	$190M
Capital Expenditure	-$14M
Acquisitions (Net)	$0
Purchases of Investments	-$4.8B
Sales/Maturities of Investments	$4.5B
Other Investing Activities	-$128M
NET CASH FROM INVESTING	-$398M
Net Debt Issuance	-$115M
Common Stock Repurchased	$0
Common Dividends Paid	-$49M
Other Financing Activities	$484M
NET CASH FROM FINANCING	$324M
FREE CASH FLOW	$176M
Net Change in Cash	$116M

Balance Sheet

Item	Amount
Cash & Equivalents	$374M
Short-Term Investments	$3.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.5B
PP&E (Net)	$124M
Goodwill	$0
Intangible Assets	$141M
Long-Term Investments	$3.5B
Tax Assets	$0
Other Non-Current Assets	$76M
TOTAL NON-CURRENT ASSETS	$3.8B
TOTAL ASSETS	$7.3B
Account Payables	$0
Short-Term Debt	$331M
Deferred Revenue	$0
Other Current Liabilities	$6.0B
TOTAL CURRENT LIABILITIES	$6.3B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$38M
TOTAL NON-CURRENT LIABILITIES	$38M
TOTAL LIABILITIES	$6.3B
Common Stock	$663.0K
Additional Paid-In Capital	$378M
Retained Earnings	$517M
Treasury Stock	-$7M
Accum. Other Comp. Income	$27M
Other Equity	$7M
TOTAL STOCKHOLDERS' EQUITY	$923M
Minority Interest	$0
TOTAL EQUITY	$923M
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$331M
Net Debt	-$43M