Provident Financial Services (PFS) FY2017 results: revenue $334 million, up 6.4% on the year
Provident Financial Services Inc. (PFS) reported revenue of $334 million for fiscal 2017, the year ended 31 December 2017, up 6.4% on the year before. Net income was $94 million, up 7.0%, and diluted earnings per share $1.45. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$334 million
+6.4% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$94 million
+7.0% on the year
FY2010FY2017
Diluted EPS
$1.45
+5.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
334
314
305
+6.4%
Interest expense
45.6
43.7
41.9
+4.3%
Pre-tax income
140
125
120
+12.6%
Income tax
46.5
37.0
36.4
+25.8%
Effective tax rate
33.1%
29.6%
30.3%
Net income
93.9
87.8
83.7
+7.0%
Net margin
28.1%
28.0%
27.4%
Diluted EPS
$1.45
$1.38
$1.33
+5.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
117
127
115
-7.9%
Capital expenditure
3.2
5.0
5.9
-35.3%
Free cash flow
114
122
109
-6.8%
Cash from investing
-306
-581
-409
Cash from financing
236
496
292
-52.4%
Depreciation and amortisation
11.6
12.8
13.7
-8.9%
Buybacks
0.4
1.6
0.0
-71.5%
Dividends paid
60.0
45.4
41.3
+32.2%
Dividend per share
$0.93
n/a
n/a
Diluted shares, weighted
65m
64m
63m
+1.1%
Shares outstanding at period end
67m
66m
65m
+0.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,299
1,252
1,196
+3.7%
Deposits
6,714
6,554
5,924
+2.4%
Debt
1,743
1,613
1,708
+8.0%
Other liabilities
89.9
82.3
84.0
+9.3%
Total liabilities and equity
9,845
9,500
8,912
+3.6%
Fixed assets
63.2
84.1
89.0
-24.9%
Goodwill
412
412
412
0.0%
Securities held for sale or to maturity
1,515
488
474
+210.3%
Loans
7,266
6,942
6,476
+4.7%
Cash and equivalents
191
144
102
+32.3%
Other assets
399
1,431
1,359
-72.1%
Total assets
9,845
9,500
8,912
+3.6%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.