WSFS FY 2019 Earnings Report — WSFS Financial Corporation Revenue & Financial Results | Market Cap Arena

WSFS Financial CorporationWSFS

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	$709M	—	$454M	—	56.2%
Op. Income	$194M	—	$171M	—	13.8%
Gross Margin	85.5%	—	86.9%	—	-1.3pp
Net Margin	21.0%	—	29.7%	—	-8.7pp
EPS (Diluted)	$2.89	—	$4.19	—	-31.0%
Free Cash Flow	$76M	—	$130M	—	-41.8%

Revenue Flow

Item	Amount
REVENUE	$709M
Cost of Revenue	$103M
GROSS PROFIT	$607M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$184M
SG&A Expenses	$191M
Other Expenses	$221M
Operating Expenses	$412M
Cost & Expenses	$515M
OPERATING INCOME	$194M
Interest Income	$521M
Interest Expense	$76M
Other Income/Expenses	$0
INCOME BEFORE TAX	$194M
Income Tax Expense	$46M
Net Income from Continuing Ops	$148M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$50M
EBIT	$194M
EBITDA	$244M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$709M
Cost of Revenue	$103M
GROSS PROFIT	$607M
R&D Expenses	$0
Selling & Marketing	$7M
General & Administrative	$184M
SG&A Expenses	$191M
Other Expenses	$221M
Operating Expenses	$412M
Cost & Expenses	$515M
OPERATING INCOME	$194M
Interest Income	$521M
Interest Expense	$76M
Other Income/Expenses	$0
INCOME BEFORE TAX	$194M
Income Tax Expense	$46M
Net Income from Continuing Ops	$148M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$149M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$149M
D&A	$50M
EBIT	$194M
EBITDA	$244M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$148M
Depreciation & Amortization	$50M
Stock-Based Compensation	$4M
Deferred Income Tax	$7M
Other Non-Cash Items	-$131M
Change in Working Capital	$12M
OPERATING CASH FLOW	$90M
Capital Expenditure	-$14M
Acquisitions (Net)	$76M
Purchases of Investments	-$958M
Sales/Maturities of Investments	$904M
Other Investing Activities	$286M
NET CASH FROM INVESTING	$294M
Net Debt Issuance	-$216M
Common Stock Repurchased	-$97M
Common Dividends Paid	-$22M
Other Financing Activities	-$105M
NET CASH FROM FINANCING	-$433M
FREE CASH FLOW	$76M
Net Change in Cash	-$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$572M
Short-Term Investments	$0
Net Receivables	$227M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$798M
PP&E (Net)	$104M
Goodwill	$473M
Intangible Assets	$96M
Long-Term Investments	$10.5B
Tax Assets	$0
Other Non-Current Assets	$316M
TOTAL NON-CURRENT ASSETS	$11.5B
TOTAL ASSETS	$12.3B
Account Payables	$3M
Short-Term Debt	$195M
Deferred Revenue	$0
Other Current Liabilities	$9.6B
TOTAL CURRENT LIABILITIES	$9.8B
Long-Term Debt	$294M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$328M
TOTAL NON-CURRENT LIABILITIES	$622M
TOTAL LIABILITIES	$10.4B
Common Stock	$575.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$917M
Treasury Stock	-$140M
Accum. Other Comp. Income	$24M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	-$815.0K
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$12.3B
Total Debt	$489M
Net Debt	-$82M