PFBC FY 2021 Earnings Report — Preferred Bank Revenue & Financial Results | Market Cap Arena

Preferred BankPFBC

FY 2021 Earnings

Reported December 31, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$219M	—	$220M	—	-0.7%
Op. Income	$134M	—	$97M	—	38.2%
Gross Margin	89.0%	—	70.0%	—	19.0pp
Net Margin	43.5%	—	31.5%	—	12.0pp
EPS (Diluted)	$6.41	—	$4.65	—	37.8%
Free Cash Flow	$119M	—	$102M	—	16.4%

Revenue Flow

Item	Amount
REVENUE	$219M
Cost of Revenue	$24M
GROSS PROFIT	$195M
R&D Expenses	$0
Selling & Marketing	$568.0K
General & Administrative	$43M
SG&A Expenses	$43M
Other Expenses	$18M
Operating Expenses	$61M
Cost & Expenses	$85M
OPERATING INCOME	$134M
Interest Income	$211M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$134M
Income Tax Expense	$39M
Net Income from Continuing Ops	$95M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$95M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$2M
EBIT	$134M
EBITDA	$136M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$219M
Cost of Revenue	$24M
GROSS PROFIT	$195M
R&D Expenses	$0
Selling & Marketing	$568.0K
General & Administrative	$43M
SG&A Expenses	$43M
Other Expenses	$18M
Operating Expenses	$61M
Cost & Expenses	$85M
OPERATING INCOME	$134M
Interest Income	$211M
Interest Expense	$25M
Other Income/Expenses	$0
INCOME BEFORE TAX	$134M
Income Tax Expense	$39M
Net Income from Continuing Ops	$95M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$95M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$95M
D&A	$2M
EBIT	$134M
EBITDA	$136M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$95M
Depreciation & Amortization	$2M
Stock-Based Compensation	$9M
Deferred Income Tax	-$1M
Other Non-Cash Items	$1M
Change in Working Capital	$13M
OPERATING CASH FLOW	$120M
Capital Expenditure	-$603.0K
Acquisitions (Net)	$0
Purchases of Investments	-$282M
Sales/Maturities of Investments	$50M
Other Investing Activities	-$388M
NET CASH FROM INVESTING	-$620M
Net Debt Issuance	$48M
Common Stock Repurchased	-$18M
Common Dividends Paid	-$21M
Other Financing Activities	$783M
NET CASH FROM FINANCING	$792M
FREE CASH FLOW	$119M
Net Change in Cash	$291M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$452M
Net Receivables	$15M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$33M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4.4B
Tax Assets	$27M
Other Non-Current Assets	$58M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$6.0B
Account Payables	$715.0K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5.2B
TOTAL CURRENT LIABILITIES	$5.2B
Long-Term Debt	$148M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$63M
TOTAL NON-CURRENT LIABILITIES	$233M
TOTAL LIABILITIES	$5.5B
Common Stock	$211M
Additional Paid-In Capital	$73M
Retained Earnings	$373M
Treasury Stock	-$75M
Accum. Other Comp. Income	$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$587M
Minority Interest	$0
TOTAL EQUITY	$587M
TOTAL LIABILITIES & EQUITY	$6.0B
Total Debt	$171M
Net Debt	-$860M