Provident Financial Services (PFS) FY2024 results: revenue $695 million, up 45.0% on the year
Provident Financial Services Inc. (PFS) reported revenue of $695 million for fiscal 2024, the year ended 31 December 2024, up 45.0% on the year before. Net income was $116 million, down 10.0%, and diluted earnings per share $1.05. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.
Revenue
$695 million
+45.0% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$116 million
-10.0% on the year
FY2017FY2024
Diluted EPS
$1.05
-38.6% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
426
173
200
+145.9%
Capital expenditure
1.3
7.5
9.4
-82.5%
Free cash flow
425
166
191
+156.2%
Cash from investing
508
-470
-648
Cash from financing
-908
290
-78.7
Depreciation and amortisation
41.5
11.7
13.1
+254.8%
Buybacks
0.0
0.0
46.5
Dividends paid
101
72.4
72.0
+39.4%
Dividend per share
$0.96
$0.96
$0.96
0.0%
Diluted shares, weighted
110m
75m
75m
+46.5%
Shares outstanding at period end
130m
76m
75m
+72.7%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
2,601
1,691
1,598
+53.9%
Deposits
18,624
10,293
10,563
+80.9%
Debt
2,422
1,981
1,348
+22.3%
Other liabilities
405
247
275
+63.9%
Total liabilities and equity
24,052
14,211
13,783
+69.3%
Fixed assets
120
71.0
79.8
+68.5%
Goodwill
624
444
444
+40.7%
Securities held for sale or to maturity
3,097
2,053
2,191
+50.8%
Loans
18,628
10,767
10,161
+73.0%
Cash and equivalents
206
180
186
+14.3%
Other assets
1,377
696
721
+97.8%
Total assets
24,052
14,211
13,783
+69.3%
10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.