FRME FY 2016 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

FY 2016 Earnings

Reported March 1, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$319M	—	$282M	—	13.1%
Op. Income	$109M	—	$91M	—	19.3%
Gross Margin	89.8%	—	91.0%	—	-1.2pp
Net Margin	25.4%	—	23.2%	—	2.2pp
EPS (Diluted)	$1.98	—	$1.72	—	15.1%
Free Cash Flow	$104M	—	$57M	—	83.1%

Revenue Flow

Item	Amount
REVENUE	$319M
Cost of Revenue	$32M
GROSS PROFIT	$286M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$106M
SG&A Expenses	$109M
Other Expenses	$69M
Operating Expenses	$177M
Cost & Expenses	$210M
OPERATING INCOME	$109M
Interest Income	$253M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$109M
Income Tax Expense	$28M
Net Income from Continuing Ops	$81M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$7M
EBIT	$109M
EBITDA	$116M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$319M
Cost of Revenue	$32M
GROSS PROFIT	$286M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$106M
SG&A Expenses	$109M
Other Expenses	$69M
Operating Expenses	$177M
Cost & Expenses	$210M
OPERATING INCOME	$109M
Interest Income	$253M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$109M
Income Tax Expense	$28M
Net Income from Continuing Ops	$81M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$81M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$81M
D&A	$7M
EBIT	$109M
EBITDA	$116M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$81M
Depreciation & Amortization	$7M
Stock-Based Compensation	$3M
Deferred Income Tax	$9M
Other Non-Cash Items	$10M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$104M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$392M
Sales/Maturities of Investments	$360M
Other Investing Activities	-$417M
NET CASH FROM INVESTING	-$449M
Net Debt Issuance	$125M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$22M
Other Financing Activities	$270M
NET CASH FROM FINANCING	$371M
FREE CASH FLOW	$104M
Net Change in Cash	$26M

Balance Sheet

Item	Amount
Cash & Equivalents	$152M
Short-Term Investments	$697M
Net Receivables	$27M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$876M
PP&E (Net)	$94M
Goodwill	$244M
Intangible Assets	$15M
Long-Term Investments	$5.7B
Tax Assets	$39M
Other Non-Current Assets	$259M
TOTAL NON-CURRENT ASSETS	$6.3B
TOTAL ASSETS	$7.2B
Account Payables	$3M
Short-Term Debt	$267M
Deferred Revenue	$0
Other Current Liabilities	$5.6B
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$427M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$56M
TOTAL NON-CURRENT LIABILITIES	$484M
TOTAL LIABILITIES	$6.3B
Common Stock	$5M
Additional Paid-In Capital	$509M
Retained Earnings	$401M
Treasury Stock	$0
Accum. Other Comp. Income	-$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$902M
Minority Interest	$0
TOTAL EQUITY	$902M
TOTAL LIABILITIES & EQUITY	$7.2B
Total Debt	$694M
Net Debt	$542M