SFBS FY 2019 Earnings Report — ServisFirst Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

ServisFirst Bancshares, Inc.SFBS

FY 2019 Earnings

Reported February 25, 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	$411M	—	$343M	—	19.8%
Op. Income	$187M	—	$169M	—	10.7%
Gross Margin	69.4%	—	75.1%	—	-5.7pp
Net Margin	36.4%	—	40.0%	—	-3.6pp
EPS (Diluted)	$2.76	—	$2.53	—	9.1%
Free Cash Flow	$162M	—	$166M	—	-2.5%

Revenue Flow

Item	Amount
REVENUE	$411M
Cost of Revenue	$126M
GROSS PROFIT	$285M
R&D Expenses	$0
Selling & Marketing	$581.0K
General & Administrative	$61M
SG&A Expenses	$62M
Other Expenses	$36M
Operating Expenses	$98M
Cost & Expenses	$224M
OPERATING INCOME	$187M
Interest Income	$391M
Interest Expense	$103M
Other Income/Expenses	$0
INCOME BEFORE TAX	$187M
Income Tax Expense	$38M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$4M
EBIT	$187M
EBITDA	$191M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$411M
Cost of Revenue	$126M
GROSS PROFIT	$285M
R&D Expenses	$0
Selling & Marketing	$581.0K
General & Administrative	$61M
SG&A Expenses	$62M
Other Expenses	$36M
Operating Expenses	$98M
Cost & Expenses	$224M
OPERATING INCOME	$187M
Interest Income	$391M
Interest Expense	$103M
Other Income/Expenses	$0
INCOME BEFORE TAX	$187M
Income Tax Expense	$38M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$4M
EBIT	$187M
EBITDA	$191M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$149M
Depreciation & Amortization	$4M
Stock-Based Compensation	$1M
Deferred Income Tax	-$1M
Other Non-Cash Items	$20M
Change in Working Capital	-$9M
OPERATING CASH FLOW	$164M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$294M
Sales/Maturities of Investments	$136M
Other Investing Activities	-$828M
NET CASH FROM INVESTING	-$988M
Net Debt Issuance	$182M
Common Stock Repurchased	$0
Common Dividends Paid	-$24M
Other Financing Activities	$613M
NET CASH FROM FINANCING	$773M
FREE CASH FLOW	$162M
Net Change in Cash	-$51M

Balance Sheet

Item	Amount
Cash & Equivalents	$530M
Short-Term Investments	$759M
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$56M
Goodwill	$0
Intangible Assets	$14M
Long-Term Investments	$7.2B
Tax Assets	$26M
Other Non-Current Assets	$344M
TOTAL NON-CURRENT ASSETS	$7.6B
TOTAL ASSETS	$8.9B
Account Payables	$12M
Short-Term Debt	$471M
Deferred Revenue	$0
Other Current Liabilities	$7.5B
TOTAL CURRENT LIABILITIES	$8.0B
Long-Term Debt	$65M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$27M
TOTAL NON-CURRENT LIABILITIES	$92M
TOTAL LIABILITIES	$8.1B
Common Stock	$54.0K
Additional Paid-In Capital	$220M
Retained Earnings	$617M
Treasury Stock	$0
Accum. Other Comp. Income	$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$842M
Minority Interest	$502.0K
TOTAL EQUITY	$843M
TOTAL LIABILITIES & EQUITY	$8.9B
Total Debt	$535M
Net Debt	$5M