PGC FY 2020 Earnings Report — Peapack-Gladstone Financial Corporation Revenue & Financial Results | Market Cap Arena

Peapack-Gladstone Financial CorporationPGC

FY 2020 Earnings

Reported March 12, 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	$228M	—	$235M	—	-3.3%
Op. Income	$32M	—	$66M	—	-51.6%
Gross Margin	67.0%	—	72.6%	—	-5.6pp
Net Margin	11.5%	—	20.2%	—	-8.6pp
EPS (Diluted)	$1.37	—	$2.44	—	-43.9%
Free Cash Flow	$34M	—	$85M	—	-60.2%

Revenue Flow

Item	Amount
REVENUE	$228M
Cost of Revenue	$75M
GROSS PROFIT	$153M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$79M
SG&A Expenses	$81M
Other Expenses	$39M
Operating Expenses	$121M
Cost & Expenses	$196M
OPERATING INCOME	$32M
Interest Income	$166M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$6M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$4M
EBIT	$32M
EBITDA	$36M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$228M
Cost of Revenue	$75M
GROSS PROFIT	$153M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$79M
SG&A Expenses	$81M
Other Expenses	$39M
Operating Expenses	$121M
Cost & Expenses	$196M
OPERATING INCOME	$32M
Interest Income	$166M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$32M
Income Tax Expense	$6M
Net Income from Continuing Ops	$26M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$26M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$4M
EBIT	$32M
EBITDA	$36M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$26M
Depreciation & Amortization	$4M
Stock-Based Compensation	$224.0K
Deferred Income Tax	$8M
Other Non-Cash Items	$29M
Change in Working Capital	-$31M
OPERATING CASH FLOW	$37M
Capital Expenditure	-$3M
Acquisitions (Net)	-$4M
Purchases of Investments	-$452M
Sales/Maturities of Investments	$217M
Other Investing Activities	$28M
NET CASH FROM INVESTING	-$214M
Net Debt Issuance	$57M
Common Stock Repurchased	-$7M
Common Dividends Paid	-$4M
Other Financing Activities	$576M
NET CASH FROM FINANCING	$622M
FREE CASH FLOW	$34M
Net Change in Cash	$445M

Balance Sheet

Item	Amount
Cash & Equivalents	$653M
Short-Term Investments	$623M
Net Receivables	$22M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$35M
Goodwill	$33M
Intangible Assets	$11M
Long-Term Investments	$4.4B
Tax Assets	$0
Other Non-Current Assets	$160M
TOTAL NON-CURRENT ASSETS	$4.6B
TOTAL ASSETS	$5.9B
Account Payables	$0
Short-Term Debt	$15M
Deferred Revenue	$0
Other Current Liabilities	$4.8B
TOTAL CURRENT LIABILITIES	$5.0B
Long-Term Debt	$182M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$33M
Other Non-Current Liabilities	$177M
TOTAL NON-CURRENT LIABILITIES	$408M
TOTAL LIABILITIES	$5.4B
Common Stock	$17M
Additional Paid-In Capital	$327M
Retained Earnings	$221M
Treasury Stock	-$36M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$527M
Minority Interest	$0
TOTAL EQUITY	$527M
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$213M
Net Debt	-$440M