FRME FY 2020 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

FY 2020 Earnings

Reported March 1, 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	$558M	—	$552M	—	1.1%
Op. Income	$170M	—	$194M	—	-12.3%
Gross Margin	77.6%	—	79.8%	—	-2.2pp
Net Margin	26.6%	—	29.8%	—	-3.2pp
EPS (Diluted)	$2.74	—	$3.19	—	-14.1%
Free Cash Flow	$205M	—	$177M	—	15.9%

Revenue Flow

Item	Amount
REVENUE	$558M
Cost of Revenue	$125M
GROSS PROFIT	$433M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$162M
SG&A Expenses	$168M
Other Expenses	$95M
Operating Expenses	$263M
Cost & Expenses	$388M
OPERATING INCOME	$170M
Interest Income	$449M
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$170M
Income Tax Expense	$21M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$11M
EBIT	$170M
EBITDA	$181M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$558M
Cost of Revenue	$125M
GROSS PROFIT	$433M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$162M
SG&A Expenses	$168M
Other Expenses	$95M
Operating Expenses	$263M
Cost & Expenses	$388M
OPERATING INCOME	$170M
Interest Income	$449M
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$170M
Income Tax Expense	$21M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$11M
EBIT	$170M
EBITDA	$181M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$149M
Depreciation & Amortization	$11M
Stock-Based Compensation	$5M
Deferred Income Tax	-$10M
Other Non-Cash Items	$63M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$205M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$827M
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	-$48M
Common Stock Repurchased	-$56M
Common Dividends Paid	-$57M
Other Financing Activities	$1.5B
NET CASH FROM FINANCING	$1.4B
FREE CASH FLOW	$205M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$585M
Short-Term Investments	$1.9B
Net Receivables	$54M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$111M
Goodwill	$544M
Intangible Assets	$29M
Long-Term Investments	$10.3B
Tax Assets	$12M
Other Non-Current Assets	$468M
TOTAL NON-CURRENT ASSETS	$11.5B
TOTAL ASSETS	$14.1B
Account Payables	$3M
Short-Term Debt	$177M
Deferred Revenue	$0
Other Current Liabilities	$11.4B
TOTAL CURRENT LIABILITIES	$11.5B
Long-Term Debt	$508M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$142M
TOTAL NON-CURRENT LIABILITIES	$650M
TOTAL LIABILITIES	$12.2B
Common Stock	$7M
Additional Paid-In Capital	$1.0B
Retained Earnings	$789M
Treasury Stock	$0
Accum. Other Comp. Income	$75M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$14.1B
Total Debt	$685M
Net Debt	$100M