FRME Q4 2020 Earnings Report — First Merchants Corporation Revenue & Financial Results | Market Cap Arena

First Merchants CorporationFRME

Q4 2020 Earnings

Reported March 1, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2020	Q3 2020	Q4 2019	QoQ Change	YoY Change
Revenue	$141M	$132M	$150M	6.3%	-6.2%
Op. Income	$53M	$42M	$56M	26.2%	-6.0%
Gross Margin	89.1%	80.5%	80.9%	8.6pp	8.2pp
Net Margin	32.1%	27.4%	31.9%	4.7pp	0.2pp
EPS (Diluted)	$0.83	$0.67	$0.87	23.9%	-4.6%
Free Cash Flow	$60M	$30M	$42M	101.1%	42.3%

Revenue Flow

Item	Amount
REVENUE	$141M
Cost of Revenue	$15M
GROSS PROFIT	$125M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$43M
SG&A Expenses	$45M
Other Expenses	$27M
Operating Expenses	$73M
Cost & Expenses	$88M
OPERATING INCOME	$53M
Interest Income	$113M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$8M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$3M
EBIT	$53M
EBITDA	$56M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$141M
Cost of Revenue	$15M
GROSS PROFIT	$125M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$43M
SG&A Expenses	$45M
Other Expenses	$27M
Operating Expenses	$73M
Cost & Expenses	$88M
OPERATING INCOME	$53M
Interest Income	$113M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$53M
Income Tax Expense	$8M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$3M
EBIT	$53M
EBITDA	$56M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$45M
Depreciation & Amortization	$3M
Stock-Based Compensation	$1M
Deferred Income Tax	$7M
Other Non-Cash Items	$7M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$60M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$450M
Sales/Maturities of Investments	$189M
Other Investing Activities	-$111M
NET CASH FROM INVESTING	-$373M
Net Debt Issuance	-$101M
Common Stock Repurchased	-$83.0K
Common Dividends Paid	-$14M
Other Financing Activities	$456M
NET CASH FROM FINANCING	$341M
FREE CASH FLOW	$60M
Net Change in Cash	$28M

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