FHB FY 2022 Earnings Report — First Hawaiian, Inc. Revenue & Financial Results | Market Cap Arena

First Hawaiian, Inc.FHB

FY 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$812M	—	$709M	—	14.5%
Op. Income	$351M	—	$349M	—	0.6%
Gross Margin	93.7%	—	102.9%	—	-9.1pp
Net Margin	32.7%	—	37.5%	—	-4.8pp
EPS (Diluted)	$2.08	—	$2.05	—	1.5%
Free Cash Flow	$417M	—	$397M	—	5.2%

Revenue Flow

Item	Amount
REVENUE	$812M
Cost of Revenue	$51M
GROSS PROFIT	$761M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$199M
SG&A Expenses	$207M
Other Expenses	$202M
Operating Expenses	$409M
Cost & Expenses	$461M
OPERATING INCOME	$351M
Interest Income	$663M
Interest Expense	$50M
Other Income/Expenses	$0
INCOME BEFORE TAX	$351M
Income Tax Expense	$86M
Net Income from Continuing Ops	$266M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$266M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$266M
D&A	$57M
EBIT	$351M
EBITDA	$408M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$812M
Cost of Revenue	$51M
GROSS PROFIT	$761M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$199M
SG&A Expenses	$207M
Other Expenses	$202M
Operating Expenses	$409M
Cost & Expenses	$461M
OPERATING INCOME	$351M
Interest Income	$663M
Interest Expense	$50M
Other Income/Expenses	$0
INCOME BEFORE TAX	$351M
Income Tax Expense	$86M
Net Income from Continuing Ops	$266M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$266M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$266M
D&A	$57M
EBIT	$351M
EBITDA	$408M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$266M
Depreciation & Amortization	$57M
Stock-Based Compensation	$10M
Deferred Income Tax	$22M
Other Non-Cash Items	$4M
Change in Working Capital	$72M
OPERATING CASH FLOW	$431M
Capital Expenditure	-$13M
Acquisitions (Net)	$0
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$1.2B
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$965M
Net Debt Issuance	$75M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$133M
Other Financing Activities	-$130M
NET CASH FROM FINANCING	-$197M
FREE CASH FLOW	$417M
Net Change in Cash	-$732M

Balance Sheet

Item	Amount
Cash & Equivalents	$527M
Short-Term Investments	$3.2B
Net Receivables	$376M
Inventory	$0
Other Current Assets	-$2M
TOTAL CURRENT ASSETS	$4.1B
PP&E (Net)	$280M
Goodwill	$995M
Intangible Assets	$7M
Long-Term Investments	$18.0B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$20.5B
TOTAL ASSETS	$24.6B
Account Payables	$0
Short-Term Debt	$75M
Deferred Revenue	$0
Other Current Liabilities	$21.7B
TOTAL CURRENT LIABILITIES	$21.9B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$442M
TOTAL NON-CURRENT LIABILITIES	$442M
TOTAL LIABILITIES	$22.3B
Common Stock	$1M
Additional Paid-In Capital	$2.5B
Retained Earnings	$737M
Treasury Stock	-$368M
Accum. Other Comp. Income	-$639M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$24.6B
Total Debt	$75M
Net Debt	-$452M