PFBC FY 2020 Earnings Report — Preferred Bank Revenue & Financial Results | Market Cap Arena

Preferred BankPFBC

FY 2020 Earnings

Reported December 31, 2020

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	$220M	—	$233M	—	-5.4%
Op. Income	$97M	—	$111M	—	-13.1%
Gross Margin	70.0%	—	71.9%	—	-1.9pp
Net Margin	31.5%	—	33.6%	—	-2.1pp
EPS (Diluted)	$4.65	—	$5.16	—	-9.9%
Free Cash Flow	$102M	—	$81M	—	26.8%

Revenue Flow

Item	Amount
REVENUE	$220M
Cost of Revenue	$66M
GROSS PROFIT	$154M
R&D Expenses	$0
Selling & Marketing	$564.0K
General & Administrative	$40M
SG&A Expenses	$40M
Other Expenses	$17M
Operating Expenses	$57M
Cost & Expenses	$123M
OPERATING INCOME	$97M
Interest Income	$214M
Interest Expense	$40M
Other Income/Expenses	$0
INCOME BEFORE TAX	$97M
Income Tax Expense	$27M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$2M
EBIT	$97M
EBITDA	$99M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$220M
Cost of Revenue	$66M
GROSS PROFIT	$154M
R&D Expenses	$0
Selling & Marketing	$564.0K
General & Administrative	$40M
SG&A Expenses	$40M
Other Expenses	$17M
Operating Expenses	$57M
Cost & Expenses	$123M
OPERATING INCOME	$97M
Interest Income	$214M
Interest Expense	$40M
Other Income/Expenses	$0
INCOME BEFORE TAX	$97M
Income Tax Expense	$27M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$2M
EBIT	$97M
EBITDA	$99M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$69M
Depreciation & Amortization	$2M
Stock-Based Compensation	$9M
Deferred Income Tax	-$4M
Other Non-Cash Items	$30M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$104M
Capital Expenditure	-$1M
Acquisitions (Net)	-$8M
Purchases of Investments	-$185M
Sales/Maturities of Investments	$181M
Other Investing Activities	-$305M
NET CASH FROM INVESTING	-$319M
Net Debt Issuance	$0
Common Stock Repurchased	-$2M
Common Dividends Paid	-$18M
Other Financing Activities	$459M
NET CASH FROM FINANCING	$439M
FREE CASH FLOW	$102M
Net Change in Cash	$224M

Balance Sheet

Item	Amount
Cash & Equivalents	$739M
Short-Term Investments	$240M
Net Receivables	$24M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$28M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.0B
Tax Assets	$24M
Other Non-Current Assets	$52M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$5.1B
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$4.4B
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$99M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$56M
TOTAL NON-CURRENT LIABILITIES	$174M
TOTAL LIABILITIES	$4.6B
Common Stock	$211M
Additional Paid-In Capital	$64M
Retained Earnings	$301M
Treasury Stock	-$58M
Accum. Other Comp. Income	$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$525M
Minority Interest	$0
TOTAL EQUITY	$525M
TOTAL LIABILITIES & EQUITY	$5.1B
Total Debt	$118M
Net Debt	-$621M