HOPE FY 2023 Earnings Report — Hope Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Hope Bancorp, Inc.HOPE

FY 2023 Earnings

Reported December 29, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.1B	—	$768M	—	42.6%
Op. Income	$178M	—	$296M	—	-39.9%
Gross Margin	49.3%	—	80.8%	—	-31.5pp
Net Margin	12.2%	—	28.4%	—	-16.2pp
EPS (Diluted)	$1.11	—	$1.81	—	-38.7%
Free Cash Flow	$461M	—	$476M	—	-3.3%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$555M
GROSS PROFIT	$540M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$225M
SG&A Expenses	$225M
Other Expenses	$137M
Operating Expenses	$362M
Cost & Expenses	$917M
OPERATING INCOME	$178M
Interest Income	$1.0B
Interest Expense	$523M
Other Income/Expenses	$0
INCOME BEFORE TAX	$178M
Income Tax Expense	$44M
Net Income from Continuing Ops	$134M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$134M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$134M
D&A	$0
EBIT	$178M
EBITDA	$178M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$555M
GROSS PROFIT	$540M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$225M
SG&A Expenses	$225M
Other Expenses	$137M
Operating Expenses	$362M
Cost & Expenses	$917M
OPERATING INCOME	$178M
Interest Income	$1.0B
Interest Expense	$523M
Other Income/Expenses	$0
INCOME BEFORE TAX	$178M
Income Tax Expense	$44M
Net Income from Continuing Ops	$134M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$134M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$134M
D&A	$0
EBIT	$178M
EBITDA	$178M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$134M
Depreciation & Amortization	$0
Stock-Based Compensation	$12M
Deferred Income Tax	$4M
Other Non-Cash Items	$106M
Change in Working Capital	$218M
OPERATING CASH FLOW	$474M
Capital Expenditure	-$13M
Acquisitions (Net)	$0
Purchases of Investments	-$473M
Sales/Maturities of Investments	$334M
Other Investing Activities	$1.4B
NET CASH FROM INVESTING	$1.3B
Net Debt Issuance	$714M
Common Stock Repurchased	$0
Common Dividends Paid	-$67M
Other Financing Activities	-$988M
NET CASH FROM FINANCING	-$341M
FREE CASH FLOW	$461M
Net Change in Cash	$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.9B
Short-Term Investments	$2.1B
Net Receivables	$62M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.1B
PP&E (Net)	$97M
Goodwill	$464M
Intangible Assets	$4M
Long-Term Investments	$14.1B
Tax Assets	$135M
Other Non-Current Assets	$234M
TOTAL NON-CURRENT ASSETS	$15.0B
TOTAL ASSETS	$19.1B
Account Payables	$168M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$14.8B
TOTAL CURRENT LIABILITIES	$14.9B
Long-Term Debt	$1.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$132M
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$17.0B
Common Stock	$138.0K
Additional Paid-In Capital	$1.4B
Retained Earnings	$1.2B
Treasury Stock	-$265M
Accum. Other Comp. Income	-$205M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$19.1B
Total Debt	$2.0B
Net Debt	$28M