PFS FY 2018 Earnings Report — Provident Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Provident Financial Services, Inc.PFS

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$419M	—	$380M	—	10.3%
Op. Income	$144M	—	$140M	—	2.4%
Gross Margin	80.2%	—	86.5%	—	-6.3pp
Net Margin	28.3%	—	24.8%	—	3.5pp
EPS (Diluted)	$1.82	—	$1.45	—	25.5%
Free Cash Flow	$153M	—	$114M	—	33.8%

Revenue Flow

Item	Amount
REVENUE	$419M
Cost of Revenue	$83M
GROSS PROFIT	$336M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$115M
SG&A Expenses	$119M
Other Expenses	$73M
Operating Expenses	$192M
Cost & Expenses	$275M
OPERATING INCOME	$144M
Interest Income	$360M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$144M
Income Tax Expense	$26M
Net Income from Continuing Ops	$118M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$118M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$118M
D&A	$10M
EBIT	$144M
EBITDA	$154M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$419M
Cost of Revenue	$83M
GROSS PROFIT	$336M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$115M
SG&A Expenses	$119M
Other Expenses	$73M
Operating Expenses	$192M
Cost & Expenses	$275M
OPERATING INCOME	$144M
Interest Income	$360M
Interest Expense	$59M
Other Income/Expenses	$0
INCOME BEFORE TAX	$144M
Income Tax Expense	$26M
Net Income from Continuing Ops	$118M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$118M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$118M
D&A	$10M
EBIT	$144M
EBITDA	$154M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$118M
Depreciation & Amortization	$10M
Stock-Based Compensation	$11M
Deferred Income Tax	-$19M
Other Non-Cash Items	$27M
Change in Working Capital	$8M
OPERATING CASH FLOW	$156M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$281M
Sales/Maturities of Investments	$238M
Other Investing Activities	$92M
NET CASH FROM INVESTING	$47M
Net Debt Issuance	-$300M
Common Stock Repurchased	-$13M
Common Dividends Paid	-$54M
Other Financing Activities	$115M
NET CASH FROM FINANCING	-$251M
FREE CASH FLOW	$153M
Net Change in Cash	-$48M

Balance Sheet

Item	Amount
Cash & Equivalents	$143M
Short-Term Investments	$1.1B
Net Receivables	$31M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$58M
Goodwill	$412M
Intangible Assets	$7M
Long-Term Investments	$7.7B
Tax Assets	$0
Other Non-Current Assets	$337M
TOTAL NON-CURRENT ASSETS	$8.5B
TOTAL ASSETS	$9.7B
Account Payables	$0
Short-Term Debt	$121M
Deferred Revenue	$0
Other Current Liabilities	$6.9B
TOTAL CURRENT LIABILITIES	$7.0B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$69M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$8.4B
Common Stock	$832.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$651M
Treasury Stock	-$272M
Accum. Other Comp. Income	-$12M
Other Equity	-$30M
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$9.7B
Total Debt	$1.4B
Net Debt	$1.3B