Provident Financial Services (PFS) FY2022 results: revenue $505 million, up 11.6% on the year
Provident Financial Services Inc. (PFS) reported revenue of $505 million for fiscal 2022, the year ended 31 December 2022, up 11.6% on the year before. Net income was $176 million, up 4.6%, and diluted earnings per share $2.35. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.
Revenue
$505 million
+11.6% on the year
FY2015FY2022
Operating margin
n/a
FY2015FY2022
Net income
$176 million
+4.6% on the year
FY2015FY2022
Diluted EPS
$2.35
+7.3% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
200
157
103
+27.7%
Capital expenditure
9.4
13.8
12.8
-31.8%
Free cash flow
191
143
90.5
+33.5%
Cash from investing
-648
-718
-504
Cash from financing
-78.7
740
747
Depreciation and amortisation
13.1
12.7
11.0
+3.3%
Buybacks
46.5
20.7
21.2
+124.7%
Dividends paid
72.0
71.5
65.8
+0.8%
Dividend per share
$0.96
$0.94
$0.92
+2.1%
Diluted shares, weighted
75m
77m
70m
-2.3%
Shares outstanding at period end
75m
77m
78m
-2.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
1,598
1,697
1,620
-5.9%
Deposits
10,563
11,234
9,838
-6.0%
Debt
1,348
637
1,201
+111.6%
Other liabilities
275
213
261
+29.0%
Total liabilities and equity
13,783
13,781
12,920
+0.0%
Fixed assets
79.8
80.6
75.9
-0.9%
Goodwill
444
444
443
-0.2%
Securities held for sale or to maturity
2,191
2,494
1,556
-12.1%
Loans
10,161
9,501
9,721
+6.9%
Cash and equivalents
186
685
418
-72.8%
Other assets
721
576
705
+25.2%
Total assets
13,783
13,781
12,920
+0.0%
10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.