FFIN FY 2020 Earnings Report — First Financial Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

First Financial Bankshares, Inc.FFIN

FY 2020 Earnings

Reported February 22, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$492M	—	$417M	—	18.0%
Op. Income	$242M	—	$198M	—	22.4%
Gross Margin	93.1%	—	92.1%	—	1.1pp
Net Margin	41.1%	—	39.5%	—	1.6pp
EPS (Diluted)	$1.42	—	$1.21	—	17.4%
Free Cash Flow	$194M	—	$194M	—	0.2%

Revenue Flow

Item	Amount
REVENUE	$492M
Cost of Revenue	$34M
GROSS PROFIT	$458M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$139M
SG&A Expenses	$141M
Other Expenses	$75M
Operating Expenses	$216M
Cost & Expenses	$250M
OPERATING INCOME	$242M
Interest Income	$365M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$242M
Income Tax Expense	$40M
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	$202M
D&A	$13M
EBIT	$242M
EBITDA	$255M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$492M
Cost of Revenue	$34M
GROSS PROFIT	$458M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$139M
SG&A Expenses	$141M
Other Expenses	$75M
Operating Expenses	$216M
Cost & Expenses	$250M
OPERATING INCOME	$242M
Interest Income	$365M
Interest Expense	$14M
Other Income/Expenses	$0
INCOME BEFORE TAX	$242M
Income Tax Expense	$40M
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	$202M
D&A	$13M
EBIT	$242M
EBITDA	$255M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$202M
Depreciation & Amortization	$13M
Stock-Based Compensation	$0
Deferred Income Tax	-$5M
Other Non-Cash Items	$54M
Change in Working Capital	-$53M
OPERATING CASH FLOW	$211M
Capital Expenditure	-$16M
Acquisitions (Net)	$61M
Purchases of Investments	-$7.1B
Sales/Maturities of Investments	$6.3B
Other Investing Activities	-$528M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$49M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$70M
Other Financing Activities	$1.5B
NET CASH FROM FINANCING	$1.5B
FREE CASH FLOW	$194M
Net Change in Cash	$446M

Balance Sheet

Item	Amount
Cash & Equivalents	$729M
Short-Term Investments	$4.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.1B
PP&E (Net)	$142M
Goodwill	$313M
Intangible Assets	$5M
Long-Term Investments	$5.2B
Tax Assets	$0
Other Non-Current Assets	$133M
TOTAL NON-CURRENT ASSETS	$5.8B
TOTAL ASSETS	$10.9B
Account Payables	$15M
Short-Term Debt	$430M
Deferred Revenue	$0
Other Current Liabilities	$8.7B
TOTAL CURRENT LIABILITIES	$9.1B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$106M
TOTAL NON-CURRENT LIABILITIES	$106M
TOTAL LIABILITIES	$9.2B
Common Stock	$1M
Additional Paid-In Capital	$670M
Retained Earnings	$837M
Treasury Stock	-$9M
Accum. Other Comp. Income	$170M
Other Equity	$9M
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$10.9B
Total Debt	$430M
Net Debt	-$299M