PFS FY 2019 Earnings Report — Provident Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Provident Financial Services, Inc.PFS

FY 2019 Earnings

Reported March 2, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$435M	—	$419M	—	4.0%
Op. Income	$147M	—	$144M	—	2.2%
Gross Margin	80.1%	—	80.2%	—	-0.1pp
Net Margin	25.9%	—	28.3%	—	-2.4pp
EPS (Diluted)	$1.74	—	$1.82	—	-4.4%
Free Cash Flow	$132M	—	$153M	—	-13.4%

Revenue Flow

Item	Amount
REVENUE	$435M
Cost of Revenue	$87M
GROSS PROFIT	$349M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$118M
SG&A Expenses	$122M
Other Expenses	$79M
Operating Expenses	$202M
Cost & Expenses	$288M
OPERATING INCOME	$147M
Interest Income	$371M
Interest Expense	$73M
Other Income/Expenses	$0
INCOME BEFORE TAX	$147M
Income Tax Expense	$34M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$19M
EBIT	$147M
EBITDA	$166M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$435M
Cost of Revenue	$87M
GROSS PROFIT	$349M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$118M
SG&A Expenses	$122M
Other Expenses	$79M
Operating Expenses	$202M
Cost & Expenses	$288M
OPERATING INCOME	$147M
Interest Income	$371M
Interest Expense	$73M
Other Income/Expenses	$0
INCOME BEFORE TAX	$147M
Income Tax Expense	$34M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$19M
EBIT	$147M
EBITDA	$166M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$113M
Depreciation & Amortization	$19M
Stock-Based Compensation	$11M
Deferred Income Tax	$2M
Other Non-Cash Items	$11M
Change in Working Capital	-$18M
OPERATING CASH FLOW	$137M
Capital Expenditure	-$5M
Acquisitions (Net)	-$15M
Purchases of Investments	-$137M
Sales/Maturities of Investments	$267M
Other Investing Activities	-$66M
NET CASH FROM INVESTING	$43M
Net Debt Issuance	-$317M
Common Stock Repurchased	-$20M
Common Dividends Paid	-$73M
Other Financing Activities	$272M
NET CASH FROM FINANCING	-$136M
FREE CASH FLOW	$132M
Net Change in Cash	$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$187M
Short-Term Investments	$977M
Net Receivables	$29M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$55M
Goodwill	$421M
Intangible Assets	$16M
Long-Term Investments	$7.7B
Tax Assets	$0
Other Non-Current Assets	$392M
TOTAL NON-CURRENT ASSETS	$8.6B
TOTAL ASSETS	$9.8B
Account Payables	$0
Short-Term Debt	$61M
Deferred Revenue	$0
Other Current Liabilities	$7.1B
TOTAL CURRENT LIABILITIES	$7.2B
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$140M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$8.4B
Common Stock	$832.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$695M
Treasury Stock	-$269M
Accum. Other Comp. Income	$4M
Other Equity	-$25M
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$9.8B
Total Debt	$1.1B
Net Debt	$938M