WSFS FY 2023 Earnings Report — WSFS Financial Corporation Revenue & Financial Results | Market Cap Arena

WSFS Financial CorporationWSFS

FY 2023 Earnings

Reported December 29, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.3B	—	$963M	—	31.4%
Op. Income	$365M	—	$301M	—	21.4%
Gross Margin	73.2%	—	90.8%	—	-17.6pp
Net Margin	21.3%	—	23.1%	—	-1.8pp
EPS (Diluted)	$4.40	—	$3.49	—	26.1%
Free Cash Flow	$231M	—	$472M	—	-51.1%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$339M
GROSS PROFIT	$926M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$305M
SG&A Expenses	$313M
Other Expenses	$248M
Operating Expenses	$561M
Cost & Expenses	$900M
OPERATING INCOME	$365M
Interest Income	$977M
Interest Expense	$251M
Other Income/Expenses	$230.0K
INCOME BEFORE TAX	$365M
Income Tax Expense	$96M
Net Income from Continuing Ops	$269M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$269M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$269M
D&A	$49M
EBIT	$365M
EBITDA	$414M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$339M
GROSS PROFIT	$926M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$305M
SG&A Expenses	$313M
Other Expenses	$248M
Operating Expenses	$561M
Cost & Expenses	$900M
OPERATING INCOME	$365M
Interest Income	$977M
Interest Expense	$251M
Other Income/Expenses	$230.0K
INCOME BEFORE TAX	$365M
Income Tax Expense	$96M
Net Income from Continuing Ops	$269M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$269M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$269M
D&A	$49M
EBIT	$365M
EBITDA	$414M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$269M
Depreciation & Amortization	$49M
Stock-Based Compensation	$10M
Deferred Income Tax	-$5M
Other Non-Cash Items	-$36M
Change in Working Capital	-$49M
OPERATING CASH FLOW	$237M
Capital Expenditure	-$6M
Acquisitions (Net)	-$3M
Purchases of Investments	-$28M
Sales/Maturities of Investments	$446M
Other Investing Activities	-$735M
NET CASH FROM INVESTING	-$326M
Net Debt Issuance	$185M
Common Stock Repurchased	-$55M
Common Dividends Paid	-$37M
Other Financing Activities	$248M
NET CASH FROM FINANCING	$345M
FREE CASH FLOW	$231M
Net Change in Cash	$256M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$0
Net Receivables	$710M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$104M
Goodwill	$886M
Intangible Assets	$119M
Long-Term Investments	$16.9B
Tax Assets	$0
Other Non-Current Assets	$776M
TOTAL NON-CURRENT ASSETS	$18.8B
TOTAL ASSETS	$20.6B
Account Payables	$47M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$16.5B
TOTAL CURRENT LIABILITIES	$16.5B
Long-Term Debt	$895M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$709M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$18.1B
Common Stock	$761.0K
Additional Paid-In Capital	$2.0B
Retained Earnings	$1.6B
Treasury Stock	-$558M
Accum. Other Comp. Income	-$594M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	-$8M
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$20.6B
Total Debt	$895M
Net Debt	-$194M