PFS FY 2015 Earnings Report — Provident Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Provident Financial Services, Inc.PFS

FY 2015 Earnings

Reported February 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$347M	—	$321M	—	8.3%
Op. Income	$120M	—	$105M	—	14.0%
Gross Margin	86.7%	—	85.9%	—	0.7pp
Net Margin	24.1%	—	23.0%	—	1.2pp
EPS (Diluted)	$1.33	—	$1.22	—	9.0%
Free Cash Flow	$109M	—	$85M	—	27.8%

Revenue Flow

Item	Amount
REVENUE	$347M
Cost of Revenue	$46M
GROSS PROFIT	$301M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$105M
SG&A Expenses	$109M
Other Expenses	$72M
Operating Expenses	$181M
Cost & Expenses	$227M
OPERATING INCOME	$120M
Interest Income	$292M
Interest Expense	$42M
Other Income/Expenses	$0
INCOME BEFORE TAX	$120M
Income Tax Expense	$36M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$14M
EBIT	$120M
EBITDA	$134M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$347M
Cost of Revenue	$46M
GROSS PROFIT	$301M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$105M
SG&A Expenses	$109M
Other Expenses	$72M
Operating Expenses	$181M
Cost & Expenses	$227M
OPERATING INCOME	$120M
Interest Income	$292M
Interest Expense	$42M
Other Income/Expenses	$0
INCOME BEFORE TAX	$120M
Income Tax Expense	$36M
Net Income from Continuing Ops	$84M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$84M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$84M
D&A	$14M
EBIT	$120M
EBITDA	$134M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$84M
Depreciation & Amortization	$14M
Stock-Based Compensation	$8M
Deferred Income Tax	$326.0K
Other Non-Cash Items	$9M
Change in Working Capital	-$77.0K
OPERATING CASH FLOW	$115M
Capital Expenditure	-$6M
Acquisitions (Net)	-$26M
Purchases of Investments	-$174M
Sales/Maturities of Investments	$263M
Other Investing Activities	-$466M
NET CASH FROM INVESTING	-$409M
Net Debt Issuance	$198M
Common Stock Repurchased	$0
Common Dividends Paid	-$41M
Other Financing Activities	$134M
NET CASH FROM FINANCING	$292M
FREE CASH FLOW	$109M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$102M
Short-Term Investments	$965M
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$89M
Goodwill	$412M
Intangible Assets	$15M
Long-Term Investments	$6.9B
Tax Assets	$0
Other Non-Current Assets	$354M
TOTAL NON-CURRENT ASSETS	$7.8B
TOTAL ASSETS	$8.9B
Account Payables	$0
Short-Term Debt	$261M
Deferred Revenue	$0
Other Current Liabilities	$5.9B
TOTAL CURRENT LIABILITIES	$6.2B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$61M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$7.7B
Common Stock	$832.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$508M
Treasury Stock	-$269M
Accum. Other Comp. Income	-$3M
Other Equity	-$42M
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$8.9B
Total Debt	$1.7B
Net Debt	$1.6B