Provident Financial Services (PFS) FY2021 results: revenue $453 million, up 17.6% on the year
Provident Financial Services Inc. (PFS) reported revenue of $453 million for fiscal 2021, the year ended 31 December 2021, up 17.6% on the year before. Net income was $168 million, up 73.2%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2022.
Revenue
$453 million
+17.6% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$168 million
+73.2% on the year
FY2014FY2021
Diluted EPS
$2.19
+57.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
157
103
137
+51.8%
Capital expenditure
13.8
12.8
4.9
+7.6%
Free cash flow
143
90.5
132
+58.1%
Cash from investing
-718
-504
42.9
Cash from financing
740
747
-136
-0.9%
Depreciation and amortisation
12.7
11.0
10.4
+14.9%
Buybacks
20.7
21.2
19.9
-2.1%
Dividends paid
71.5
65.8
72.8
+8.6%
Dividend per share
$0.94
$0.92
$1.12
+2.2%
Diluted shares, weighted
77m
70m
65m
+10.0%
Shares outstanding at period end
77m
78m
66m
-0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,697
1,620
1,414
+4.8%
Deposits
11,234
9,838
7,103
+14.2%
Debt
637
1,201
1,125
-47.0%
Other liabilities
213
261
167
-18.4%
Total liabilities and equity
13,781
12,920
9,809
+6.7%
Fixed assets
80.6
75.9
55.2
+6.1%
Goodwill
444
443
421
+0.3%
Securities held for sale or to maturity
2,494
1,556
1,431
+60.2%
Loans
9,501
9,721
7,277
-2.3%
Cash and equivalents
685
418
146
+63.9%
Other assets
576
705
479
-18.3%
Total assets
13,781
12,920
9,809
+6.7%
10-K for the year ended 31 December 2021, filed 1 March 2022: the filing.