PGC FY 2021 Earnings Report — Peapack-Gladstone Financial Corporation Revenue & Financial Results | Market Cap Arena

Peapack-Gladstone Financial CorporationPGC

FY 2021 Earnings

Reported March 14, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$229M	—	$228M	—	0.6%
Op. Income	$78M	—	$32M	—	142.7%
Gross Margin	87.6%	—	67.0%	—	20.5pp
Net Margin	24.7%	—	11.5%	—	13.2pp
EPS (Diluted)	$2.93	—	$1.37	—	113.9%
Free Cash Flow	$72M	—	$34M	—	112.6%

Revenue Flow

Item	Amount
REVENUE	$229M
Cost of Revenue	$28M
GROSS PROFIT	$200M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$84M
SG&A Expenses	$85M
Other Expenses	$37M
Operating Expenses	$123M
Cost & Expenses	$151M
OPERATING INCOME	$78M
Interest Income	$160M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$21M
Net Income from Continuing Ops	$57M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$57M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$5M
EBIT	$78M
EBITDA	$82M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$229M
Cost of Revenue	$28M
GROSS PROFIT	$200M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$84M
SG&A Expenses	$85M
Other Expenses	$37M
Operating Expenses	$123M
Cost & Expenses	$151M
OPERATING INCOME	$78M
Interest Income	$160M
Interest Expense	$22M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$21M
Net Income from Continuing Ops	$57M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$57M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$5M
EBIT	$78M
EBITDA	$82M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$57M
Depreciation & Amortization	$5M
Stock-Based Compensation	$126.0K
Deferred Income Tax	$9M
Other Non-Cash Items	$9M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$75M
Capital Expenditure	-$4M
Acquisitions (Net)	-$6M
Purchases of Investments	-$762M
Sales/Maturities of Investments	$454M
Other Investing Activities	-$436M
NET CASH FROM INVESTING	-$754M
Net Debt Issuance	-$242M
Common Stock Repurchased	-$31M
Common Dividends Paid	-$4M
Other Financing Activities	$449M
NET CASH FROM FINANCING	$172M
FREE CASH FLOW	$72M
Net Change in Cash	-$507M

Balance Sheet

Item	Amount
Cash & Equivalents	$147M
Short-Term Investments	$797M
Net Receivables	$22M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$965M
PP&E (Net)	$36M
Goodwill	$36M
Intangible Assets	$13M
Long-Term Investments	$4.9B
Tax Assets	$0
Other Non-Current Assets	$122M
TOTAL NON-CURRENT ASSETS	$5.1B
TOTAL ASSETS	$6.1B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5.3B
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$133M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$39M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$188M
TOTAL LIABILITIES	$5.5B
Common Stock	$17M
Additional Paid-In Capital	$332M
Retained Earnings	$274M
Treasury Stock	-$65M
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$546M
Minority Interest	$0
TOTAL EQUITY	$546M
TOTAL LIABILITIES & EQUITY	$6.1B
Total Debt	$149M
Net Debt	$2M