PFS FY 2020 Earnings Report — Provident Financial Services, Inc. Revenue & Financial Results | Market Cap Arena

Provident Financial Services, Inc.PFS

FY 2020 Earnings

Reported March 1, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$436M	—	$435M	—	0.1%
Op. Income	$128M	—	$147M	—	-13.3%
Gross Margin	81.1%	—	80.1%	—	1.0pp
Net Margin	22.2%	—	25.9%	—	-3.6pp
EPS (Diluted)	$1.39	—	$1.74	—	-20.1%
Free Cash Flow	$90M	—	$132M	—	-31.5%

Revenue Flow

Item	Amount
REVENUE	$436M
Cost of Revenue	$82M
GROSS PROFIT	$353M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$134M
SG&A Expenses	$138M
Other Expenses	$88M
Operating Expenses	$226M
Cost & Expenses	$308M
OPERATING INCOME	$128M
Interest Income	$363M
Interest Expense	$51M
Other Income/Expenses	$0
INCOME BEFORE TAX	$128M
Income Tax Expense	$31M
Net Income from Continuing Ops	$97M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$97M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$97M
D&A	$20M
EBIT	$128M
EBITDA	$148M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$436M
Cost of Revenue	$82M
GROSS PROFIT	$353M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$134M
SG&A Expenses	$138M
Other Expenses	$88M
Operating Expenses	$226M
Cost & Expenses	$308M
OPERATING INCOME	$128M
Interest Income	$363M
Interest Expense	$51M
Other Income/Expenses	$0
INCOME BEFORE TAX	$128M
Income Tax Expense	$31M
Net Income from Continuing Ops	$97M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$97M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$97M
D&A	$20M
EBIT	$128M
EBITDA	$148M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$97M
Depreciation & Amortization	$20M
Stock-Based Compensation	$8M
Deferred Income Tax	-$8M
Other Non-Cash Items	$25M
Change in Working Capital	-$38M
OPERATING CASH FLOW	$103M
Capital Expenditure	-$13M
Acquisitions (Net)	$78M
Purchases of Investments	-$298M
Sales/Maturities of Investments	$426M
Other Investing Activities	-$698M
NET CASH FROM INVESTING	-$504M
Net Debt Issuance	-$151M
Common Stock Repurchased	-$21M
Common Dividends Paid	-$66M
Other Financing Activities	$984M
NET CASH FROM FINANCING	$747M
FREE CASH FLOW	$90M
Net Change in Cash	$272M

Balance Sheet

Item	Amount
Cash & Equivalents	$532M
Short-Term Investments	$1.1B
Net Receivables	$46M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$76M
Goodwill	$443M
Intangible Assets	$23M
Long-Term Investments	$10.2B
Tax Assets	$0
Other Non-Current Assets	$520M
TOTAL NON-CURRENT ASSETS	$11.2B
TOTAL ASSETS	$12.9B
Account Payables	$0
Short-Term Debt	$100M
Deferred Revenue	$0
Other Current Liabilities	$9.9B
TOTAL CURRENT LIABILITIES	$10.0B
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$227M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$11.3B
Common Stock	$832.0K
Additional Paid-In Capital	$962M
Retained Earnings	$718M
Treasury Stock	-$59M
Accum. Other Comp. Income	$18M
Other Equity	-$20M
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$12.9B
Total Debt	$1.2B
Net Debt	$669M