Provident Financial Services (PFS) FY2015 results: revenue $305 million, up 8.9% on the year
Provident Financial Services Inc. (PFS) reported revenue of $305 million for fiscal 2015, the year ended 31 December 2015, up 8.9% on the year before. Net income was $84 million, up 13.7%, and diluted earnings per share $1.33. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$305 million
+8.9% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$84 million
+13.7% on the year
FY2008FY2015
Diluted EPS
$1.33
+9.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
305
280
260
+8.9%
Interest expense
41.9
40.5
36.8
+3.5%
Pre-tax income
120
105
106
+14.0%
Income tax
36.4
31.8
35.4
+14.6%
Effective tax rate
30.3%
30.2%
33.4%
Net income
83.7
73.6
70.5
+13.7%
Net margin
27.4%
26.3%
27.1%
Diluted EPS
$1.33
$1.22
$1.23
+9.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
115
102
120
+13.0%
Capital expenditure
5.9
16.4
7.7
-64.1%
Free cash flow
109
85.2
112
+27.8%
Cash from investing
-409
-74.6
-259
Cash from financing
292
-24.6
137
Depreciation and amortisation
13.7
11.1
8.8
+23.2%
Buybacks
0.0
3.5
5.9
Dividends paid
41.3
36.1
32.3
+14.3%
Diluted shares, weighted
63m
61m
57m
+4.2%
Shares outstanding at period end
65m
65m
60m
+0.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,196
1,144
1,011
+4.5%
Deposits
5,924
5,793
5,202
+2.3%
Debt
1,708
1,510
1,204
+13.1%
Other liabilities
84.0
76.9
70.2
+9.2%
Total liabilities and equity
8,912
8,523
7,487
+4.6%
Fixed assets
89.0
93.0
66.4
-4.3%
Goodwill
412
393
353
+4.8%
Securities held for sale or to maturity
474
470
358
+0.9%
Loans
6,476
6,024
5,130
+7.5%
Cash and equivalents
102
104
101
-1.5%
Other assets
1,359
1,441
1,479
-5.7%
Total assets
8,912
8,523
7,487
+4.6%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.