FHB FY 2019 Earnings Report — First Hawaiian, Inc. Revenue & Financial Results | Market Cap Arena

First Hawaiian, Inc.FHB

FY 2019 Earnings

Reported February 27, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$841M	—	$800M	—	5.1%
Op. Income	$382M	—	$358M	—	6.6%
Gross Margin	85.8%	—	87.3%	—	-1.4pp
Net Margin	33.8%	—	33.0%	—	0.8pp
EPS (Diluted)	$2.13	—	$1.93	—	10.4%
Free Cash Flow	$267M	—	$309M	—	-13.6%

Revenue Flow

Item	Amount
REVENUE	$841M
Cost of Revenue	$119M
GROSS PROFIT	$722M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$173M
SG&A Expenses	$180M
Other Expenses	$160M
Operating Expenses	$340M
Cost & Expenses	$460M
OPERATING INCOME	$382M
Interest Income	$679M
Interest Expense	$105M
Other Income/Expenses	$0
INCOME BEFORE TAX	$382M
Income Tax Expense	$97M
Net Income from Continuing Ops	$284M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$284M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$284M
D&A	$68M
EBIT	$382M
EBITDA	$450M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$841M
Cost of Revenue	$119M
GROSS PROFIT	$722M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$173M
SG&A Expenses	$180M
Other Expenses	$160M
Operating Expenses	$340M
Cost & Expenses	$460M
OPERATING INCOME	$382M
Interest Income	$679M
Interest Expense	$105M
Other Income/Expenses	$0
INCOME BEFORE TAX	$382M
Income Tax Expense	$97M
Net Income from Continuing Ops	$284M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$284M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$284M
D&A	$68M
EBIT	$382M
EBITDA	$450M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$284M
Depreciation & Amortization	$68M
Stock-Based Compensation	$8M
Deferred Income Tax	$17M
Other Non-Cash Items	$17M
Change in Working Capital	-$97M
OPERATING CASH FLOW	$297M
Capital Expenditure	-$29M
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	-$116M
NET CASH FROM INVESTING	$375M
Net Debt Issuance	-$10.0K
Common Stock Repurchased	-$136M
Common Dividends Paid	-$138M
Other Financing Activities	-$707M
NET CASH FROM FINANCING	-$981M
FREE CASH FLOW	$267M
Net Change in Cash	-$310M

Balance Sheet

Item	Amount
Cash & Equivalents	$694M
Short-Term Investments	$4.1B
Net Receivables	$45M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.8B
PP&E (Net)	$317M
Goodwill	$995M
Intangible Assets	$13M
Long-Term Investments	$13.1B
Tax Assets	$0
Other Non-Current Assets	$945M
TOTAL NON-CURRENT ASSETS	$15.4B
TOTAL ASSETS	$20.2B
Account Payables	$0
Short-Term Debt	$800M
Deferred Revenue	$0
Other Current Liabilities	$16.4B
TOTAL CURRENT LIABILITIES	$17.4B
Long-Term Debt	$200M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$57M
TOTAL NON-CURRENT LIABILITIES	$143M
TOTAL LIABILITIES	$17.5B
Common Stock	$1M
Additional Paid-In Capital	$2.5B
Retained Earnings	$437M
Treasury Stock	-$270M
Accum. Other Comp. Income	-$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$0
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$20.2B
Total Debt	$1.0B
Net Debt	$306M