PFS FY 2017 Earnings Report — Provident Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Provident Financial Services, Inc.PFS

FY 2017 Earnings

Reported March 1, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$380M	—	$358M	—	6.1%
Op. Income	$140M	—	$125M	—	12.6%
Gross Margin	86.5%	—	86.3%	—	0.2pp
Net Margin	24.8%	—	24.5%	—	0.2pp
EPS (Diluted)	$1.45	—	$1.38	—	5.1%
Free Cash Flow	$114M	—	$122M	—	-6.8%

Revenue Flow

Item	Amount
REVENUE	$380M
Cost of Revenue	$51M
GROSS PROFIT	$328M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$113M
SG&A Expenses	$117M
Other Expenses	$71M
Operating Expenses	$188M
Cost & Expenses	$239M
OPERATING INCOME	$140M
Interest Income	$324M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$140M
Income Tax Expense	$47M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$12M
EBIT	$140M
EBITDA	$152M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$380M
Cost of Revenue	$51M
GROSS PROFIT	$328M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$113M
SG&A Expenses	$117M
Other Expenses	$71M
Operating Expenses	$188M
Cost & Expenses	$239M
OPERATING INCOME	$140M
Interest Income	$324M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$140M
Income Tax Expense	$47M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$12M
EBIT	$140M
EBITDA	$152M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$94M
Depreciation & Amortization	$12M
Stock-Based Compensation	$10M
Deferred Income Tax	$41M
Other Non-Cash Items	$10M
Change in Working Capital	-$49M
OPERATING CASH FLOW	$117M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$276M
Sales/Maturities of Investments	$276M
Other Investing Activities	-$303M
NET CASH FROM INVESTING	-$306M
Net Debt Issuance	$130M
Common Stock Repurchased	-$443.0K
Common Dividends Paid	-$60M
Other Financing Activities	$164M
NET CASH FROM FINANCING	$236M
FREE CASH FLOW	$114M
Net Change in Cash	$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$191M
Short-Term Investments	$1.0B
Net Receivables	$30M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$63M
Goodwill	$412M
Intangible Assets	$9M
Long-Term Investments	$7.7B
Tax Assets	$0
Other Non-Current Assets	$360M
TOTAL NON-CURRENT ASSETS	$8.6B
TOTAL ASSETS	$9.8B
Account Payables	$0
Short-Term Debt	$143M
Deferred Revenue	$0
Other Current Liabilities	$6.7B
TOTAL CURRENT LIABILITIES	$6.9B
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$64M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$8.5B
Common Stock	$832.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$586M
Treasury Stock	-$260M
Accum. Other Comp. Income	-$7M
Other Equity	-$34M
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$9.8B
Total Debt	$1.7B
Net Debt	$1.6B