FRME FY 2019 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

FY 2019 Earnings

Reported February 28, 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	$552M	—	$484M	—	14.0%
Op. Income	$194M	—	$188M	—	3.0%
Gross Margin	79.8%	—	84.2%	—	-4.4pp
Net Margin	29.8%	—	32.9%	—	-3.1pp
EPS (Diluted)	$3.19	—	$3.22	—	-0.9%
Free Cash Flow	$177M	—	$180M	—	-1.9%

Revenue Flow

Item	Amount
REVENUE	$552M
Cost of Revenue	$112M
GROSS PROFIT	$441M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$145M
SG&A Expenses	$151M
Other Expenses	$95M
Operating Expenses	$247M
Cost & Expenses	$358M
OPERATING INCOME	$194M
Interest Income	$465M
Interest Expense	$109M
Other Income/Expenses	$0
INCOME BEFORE TAX	$194M
Income Tax Expense	$29M
Net Income from Continuing Ops	$164M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$164M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$164M
D&A	$9M
EBIT	$194M
EBITDA	$203M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$552M
Cost of Revenue	$112M
GROSS PROFIT	$441M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$145M
SG&A Expenses	$151M
Other Expenses	$95M
Operating Expenses	$247M
Cost & Expenses	$358M
OPERATING INCOME	$194M
Interest Income	$465M
Interest Expense	$109M
Other Income/Expenses	$0
INCOME BEFORE TAX	$194M
Income Tax Expense	$29M
Net Income from Continuing Ops	$164M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$164M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$164M
D&A	$9M
EBIT	$194M
EBITDA	$203M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$164M
Depreciation & Amortization	$9M
Stock-Based Compensation	$4M
Deferred Income Tax	$5M
Other Non-Cash Items	$2M
Change in Working Capital	-$8M
OPERATING CASH FLOW	$178M
Capital Expenditure	$0
Acquisitions (Net)	$10M
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$402M
Other Investing Activities	-$318M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	-$44M
Common Stock Repurchased	-$19M
Common Dividends Paid	-$51M
Other Financing Activities	$978M
NET CASH FROM FINANCING	$866M
FREE CASH FLOW	$177M
Net Change in Cash	$38M

Balance Sheet

Item	Amount
Cash & Equivalents	$295M
Short-Term Investments	$1.8B
Net Receivables	$49M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$113M
Goodwill	$544M
Intangible Assets	$35M
Long-Term Investments	$9.2B
Tax Assets	$12M
Other Non-Current Assets	$425M
TOTAL NON-CURRENT ASSETS	$10.3B
TOTAL ASSETS	$12.5B
Account Payables	$7M
Short-Term Debt	$243M
Deferred Revenue	$0
Other Current Liabilities	$9.8B
TOTAL CURRENT LIABILITIES	$10.1B
Long-Term Debt	$490M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$91M
TOTAL NON-CURRENT LIABILITIES	$581M
TOTAL LIABILITIES	$10.7B
Common Stock	$7M
Additional Paid-In Capital	$1.1B
Retained Earnings	$697M
Treasury Stock	$0
Accum. Other Comp. Income	$28M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$12.5B
Total Debt	$733M
Net Debt	$437M