Annual Income Statements for Provident Financial Services
This table shows Provident Financial Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Provident Financial Services
This table shows Provident Financial Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
43 |
49 |
41 |
32 |
29 |
27 |
32 |
-11 |
46 |
49 |
64 |
Consolidated Net Income / (Loss) |
|
43 |
49 |
41 |
32 |
29 |
27 |
32 |
-11 |
46 |
49 |
64 |
Net Income / (Loss) Continuing Operations |
|
43 |
49 |
41 |
32 |
29 |
27 |
32 |
-11 |
46 |
49 |
64 |
Total Pre-Tax Income |
|
60 |
67 |
55 |
44 |
37 |
40 |
43 |
-21 |
65 |
63 |
92 |
Total Revenue |
|
138 |
132 |
130 |
118 |
116 |
115 |
114 |
164 |
211 |
206 |
209 |
Net Interest Income / (Expense) |
|
109 |
114 |
108 |
99 |
96 |
96 |
94 |
142 |
184 |
182 |
182 |
Total Interest Income |
|
122 |
137 |
144 |
150 |
158 |
164 |
164 |
248 |
323 |
312 |
305 |
Loans and Leases Interest Income |
|
109 |
124 |
129 |
135 |
143 |
149 |
148 |
223 |
292 |
281 |
273 |
Investment Securities Interest Income |
|
12 |
13 |
14 |
14 |
14 |
14 |
15 |
23 |
28 |
29 |
32 |
Federal Funds Sold and Securities Borrowed Interest Income |
|
0.50 |
0.31 |
0.85 |
0.95 |
0.89 |
0.76 |
1.18 |
1.86 |
2.43 |
1.60 |
0.68 |
Total Interest Expense |
|
12 |
23 |
35 |
51 |
62 |
68 |
70 |
106 |
139 |
130 |
124 |
Deposits Interest Expense |
|
9.56 |
18 |
28 |
36 |
45 |
51 |
53 |
81 |
110 |
106 |
97 |
Long-Term Debt Interest Expense |
|
2.68 |
4.73 |
7.72 |
14 |
17 |
18 |
18 |
25 |
29 |
24 |
26 |
Total Non-Interest Income |
|
28 |
18 |
22 |
19 |
19 |
19 |
21 |
22 |
27 |
24 |
27 |
Trust Fees by Commissions |
|
6.79 |
6.60 |
6.92 |
6.92 |
6.99 |
6.84 |
7.49 |
7.77 |
7.62 |
7.66 |
7.33 |
Other Service Charges |
|
18 |
7.33 |
9.66 |
7.06 |
7.27 |
7.73 |
6.71 |
9.67 |
11 |
11 |
12 |
Net Realized & Unrealized Capital Gains on Investments |
|
-0.00 |
0.03 |
-0.01 |
0.03 |
0.01 |
-0.01 |
-0.00 |
-2.97 |
0.00 |
-0.01 |
0.09 |
Other Non-Interest Income |
|
4.10 |
4.31 |
5.59 |
5.38 |
5.04 |
4.41 |
6.61 |
7.81 |
7.94 |
5.55 |
7.74 |
Provision for Credit Losses |
|
8.41 |
- |
6.00 |
9.75 |
13 |
-0.12 |
0.19 |
70 |
9.30 |
8.37 |
0.64 |
Total Non-Interest Expense |
|
69 |
65 |
69 |
65 |
66 |
75 |
71 |
115 |
136 |
135 |
116 |
Salaries and Employee Benefits |
|
38 |
35 |
39 |
35 |
36 |
39 |
40 |
55 |
63 |
60 |
62 |
Net Occupancy & Equipment Expense |
|
14 |
13 |
14 |
14 |
13 |
14 |
15 |
20 |
23 |
22 |
24 |
Marketing Expense |
|
1.37 |
1.50 |
1.23 |
1.38 |
1.13 |
1.08 |
0.97 |
1.17 |
1.52 |
1.49 |
1.06 |
Property & Liability Insurance Claims |
|
1.40 |
1.24 |
1.94 |
2.13 |
1.63 |
2.89 |
2.27 |
3.10 |
4.18 |
3.41 |
3.39 |
Other Operating Expenses |
|
11 |
12 |
12 |
9.95 |
11 |
15 |
9.83 |
11 |
16 |
18 |
16 |
Amortization Expense |
|
0.78 |
0.78 |
0.76 |
0.75 |
0.72 |
0.72 |
0.71 |
6.48 |
12 |
9.51 |
9.50 |
Restructuring Charge |
|
2.89 |
- |
1.10 |
1.96 |
2.29 |
2.48 |
2.20 |
19 |
16 |
20 |
0.00 |
Income Tax Expense |
|
17 |
18 |
14 |
12 |
8.84 |
12 |
11 |
-9.83 |
19 |
14 |
28 |
Basic Earnings per Share |
|
$0.58 |
$0.66 |
$0.54 |
$0.43 |
$0.38 |
$0.37 |
$0.43 |
($0.11) |
$0.36 |
$0.37 |
$0.49 |
Weighted Average Basic Shares Outstanding |
|
74.30M |
74.70M |
74.65M |
74.82M |
74.91M |
74.84M |
75.26M |
102.96M |
129.94M |
109.67M |
130.33M |
Diluted Earnings per Share |
|
$0.58 |
$0.66 |
$0.54 |
$0.43 |
$0.38 |
$0.36 |
$0.43 |
($0.11) |
$0.36 |
$0.37 |
$0.49 |
Weighted Average Diluted Shares Outstanding |
|
74.39M |
74.78M |
74.70M |
74.83M |
74.91M |
74.87M |
75.28M |
102.96M |
130.00M |
109.71M |
130.38M |
Weighted Average Basic & Diluted Shares Outstanding |
|
75.28M |
75.33M |
75.56M |
75.61M |
75.61M |
75.60M |
75.98M |
130.49M |
130.49M |
130.49M |
130.66M |
Annual Cash Flow Statements for Provident Financial Services
This table details how cash moves in and out of Provident Financial Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-1.54 |
42 |
47 |
-48 |
44 |
346 |
180 |
-526 |
-6.25 |
26 |
Net Cash From Operating Activities |
|
115 |
127 |
117 |
156 |
137 |
103 |
157 |
200 |
173 |
426 |
Net Cash From Continuing Operating Activities |
|
115 |
127 |
117 |
156 |
137 |
103 |
157 |
200 |
173 |
426 |
Net Income / (Loss) Continuing Operations |
|
84 |
88 |
94 |
118 |
113 |
97 |
168 |
176 |
128 |
116 |
Consolidated Net Income / (Loss) |
|
84 |
88 |
94 |
118 |
113 |
97 |
168 |
176 |
128 |
116 |
Provision For Loan Losses |
|
4.35 |
5.40 |
5.60 |
24 |
13 |
32 |
-23 |
5.00 |
28 |
88 |
Depreciation Expense |
|
14 |
13 |
12 |
10 |
10 |
11 |
13 |
13 |
12 |
41 |
Amortization Expense |
|
12 |
12 |
11 |
9.43 |
17 |
20 |
27 |
24 |
19 |
21 |
Non-Cash Adjustments to Reconcile Net Income |
|
1.44 |
7.42 |
44 |
4.38 |
2.21 |
-18 |
5.93 |
-11 |
-2.91 |
126 |
Changes in Operating Assets and Liabilities, net |
|
-0.08 |
1.79 |
-49 |
-10 |
-18 |
-38 |
-33 |
-5.66 |
-11 |
36 |
Net Cash From Investing Activities |
|
-409 |
-581 |
-306 |
47 |
43 |
-504 |
-717 |
-648 |
-470 |
508 |
Net Cash From Continuing Investing Activities |
|
-409 |
-581 |
-306 |
47 |
43 |
-504 |
-717 |
-648 |
-470 |
508 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-5.91 |
-5.00 |
-3.23 |
-3.16 |
-4.88 |
-13 |
-14 |
-9.41 |
-7.49 |
-1.31 |
Acquisitions |
|
-26 |
- |
0.00 |
0.00 |
-15 |
78 |
- |
0.00 |
0.00 |
195 |
Purchase of Investment Securities |
|
-729 |
-910 |
-734 |
-415 |
-378 |
-405 |
-1,446 |
-1,171 |
-915 |
-854 |
Sale of Property, Leasehold Improvements and Equipment |
|
0.02 |
0.01 |
21 |
0.03 |
0.00 |
0.95 |
0.04 |
0.02 |
0.11 |
0.00 |
Sale and/or Maturity of Investments |
|
352 |
334 |
410 |
465 |
441 |
-166 |
744 |
533 |
453 |
1,169 |
Net Cash From Financing Activities |
|
292 |
496 |
236 |
-251 |
-136 |
747 |
740 |
-79 |
290 |
-908 |
Net Cash From Continuing Financing Activities |
|
292 |
496 |
236 |
-251 |
-136 |
747 |
740 |
-79 |
290 |
-908 |
Net Change in Deposits |
|
133 |
631 |
162 |
116 |
274 |
985 |
1,396 |
-670 |
-269 |
-292 |
Issuance of Debt |
|
748 |
390 |
670 |
695 |
1,243 |
2,430 |
905 |
3,982 |
535 |
857 |
Repayment of Debt |
|
-550 |
-485 |
-540 |
-995 |
-1,560 |
-2,581 |
-1,469 |
-3,272 |
98 |
-1,371 |
Repurchase of Common Equity |
|
0.00 |
-1.56 |
-0.44 |
-13 |
-20 |
-21 |
-21 |
-47 |
0.00 |
0.00 |
Payment of Dividends |
|
-41 |
-45 |
-60 |
-54 |
-73 |
-66 |
-71 |
-72 |
-72 |
-101 |
Other Financing Activities, Net |
|
2.63 |
6.63 |
4.29 |
0.82 |
0.38 |
-0.52 |
-0.07 |
-1.02 |
-0.89 |
-1.32 |
Cash Interest Paid |
|
42 |
44 |
46 |
59 |
74 |
49 |
36 |
47 |
210 |
397 |
Cash Income Taxes Paid |
|
41 |
34 |
41 |
15 |
34 |
37 |
57 |
51 |
46 |
36 |
Quarterly Cash Flow Statements for Provident Financial Services
This table details how cash moves in and out of Provident Financial Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
-93 |
1.64 |
47 |
-25 |
-20 |
-9.01 |
-22 |
132 |
-46 |
-38 |
28 |
Net Cash From Operating Activities |
|
56 |
42 |
58 |
27 |
42 |
46 |
41 |
77 |
69 |
239 |
89 |
Net Cash From Continuing Operating Activities |
|
56 |
42 |
58 |
27 |
42 |
46 |
41 |
77 |
69 |
239 |
89 |
Net Income / (Loss) Continuing Operations |
|
43 |
49 |
41 |
32 |
29 |
27 |
32 |
-11 |
46 |
49 |
64 |
Consolidated Net Income / (Loss) |
|
43 |
49 |
41 |
32 |
29 |
27 |
32 |
-11 |
46 |
49 |
64 |
Provision For Loan Losses |
|
9.99 |
1.79 |
6.74 |
9.75 |
13 |
-0.86 |
-0.32 |
70 |
9.30 |
8.88 |
0.64 |
Depreciation Expense |
|
3.27 |
3.23 |
3.04 |
2.91 |
2.88 |
2.86 |
2.80 |
9.55 |
16 |
13 |
13 |
Amortization Expense |
|
5.49 |
4.86 |
4.50 |
-0.37 |
10 |
4.88 |
4.50 |
2.69 |
-2.05 |
15 |
7.88 |
Non-Cash Adjustments to Reconcile Net Income |
|
-8.31 |
0.69 |
-0.45 |
-1.10 |
-6.14 |
4.78 |
1.43 |
-5.76 |
5.36 |
125 |
-3.97 |
Changes in Operating Assets and Liabilities, net |
|
2.48 |
-17 |
3.69 |
-16 |
-6.16 |
7.35 |
0.92 |
12 |
-6.14 |
29 |
6.77 |
Net Cash From Investing Activities |
|
-0.64 |
-171 |
20 |
-264 |
-93 |
-132 |
55 |
763 |
-17 |
-293 |
-176 |
Net Cash From Continuing Investing Activities |
|
-0.64 |
-171 |
20 |
-264 |
-93 |
-132 |
55 |
762 |
-16 |
-293 |
-176 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-1.94 |
-1.53 |
-0.61 |
-2.35 |
-2.94 |
-1.59 |
-0.54 |
-0.98 |
-1.29 |
1.50 |
-1.14 |
Purchase of Investment Securities |
|
-159 |
-306 |
-110 |
-360 |
-195 |
-251 |
-29 |
-183 |
-195 |
-447 |
-422 |
Sale of Property, Leasehold Improvements and Equipment |
|
- |
- |
0.06 |
- |
- |
0.04 |
0.00 |
- |
- |
- |
2.35 |
Sale and/or Maturity of Investments |
|
161 |
137 |
130 |
98 |
105 |
120 |
85 |
752 |
179 |
153 |
244 |
Net Cash From Financing Activities |
|
-148 |
130 |
-30 |
212 |
32 |
77 |
-118 |
-707 |
-99 |
15 |
116 |
Net Cash From Continuing Financing Activities |
|
-148 |
130 |
-30 |
212 |
32 |
77 |
-118 |
-707 |
-99 |
15 |
116 |
Net Change in Deposits |
|
-191 |
-126 |
-258 |
-35 |
-123 |
147 |
-187 |
-367 |
20 |
242 |
-166 |
Issuance of Debt |
|
1,299 |
1,719 |
261 |
186 |
62 |
26 |
0.00 |
221 |
-0.06 |
636 |
570 |
Repayment of Debt |
|
-1,238 |
-1,445 |
-14 |
79 |
110 |
-78 |
88 |
-542 |
-88 |
-830 |
-255 |
Payment of Dividends |
|
-18 |
-17 |
-19 |
-18 |
-18 |
-18 |
-18 |
-19 |
-31 |
-32 |
-32 |
Other Financing Activities, Net |
|
-0.06 |
-0.01 |
-0.88 |
-0.00 |
- |
-0.01 |
-1.24 |
-0.05 |
-0.03 |
- |
-1.85 |
Cash Interest Paid |
|
12 |
21 |
34 |
48 |
62 |
67 |
66 |
71 |
116 |
144 |
126 |
Cash Income Taxes Paid |
|
18 |
25 |
0.96 |
26 |
12 |
7.60 |
1.32 |
17 |
17 |
0.74 |
1.03 |
Annual Balance Sheets for Provident Financial Services
This table presents Provident Financial Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
8,912 |
9,500 |
9,845 |
9,726 |
9,809 |
12,920 |
13,781 |
13,783 |
14,211 |
24,052 |
Cash and Due from Banks |
|
101 |
93 |
140 |
143 |
187 |
532 |
506 |
187 |
180 |
206 |
Trading Account Securities |
|
1,438 |
1,529 |
1,515 |
1,543 |
1,431 |
1,557 |
- |
2,193 |
2,054 |
3,116 |
Loans and Leases, Net of Allowance |
|
6,476 |
6,942 |
7,266 |
7,195 |
7,277 |
9,721 |
0.00 |
10,161 |
10,765 |
18,466 |
Loans and Leases |
|
6,538 |
7,003 |
7,326 |
7,251 |
7,333 |
9,823 |
- |
10,249 |
10,872 |
18,659 |
Allowance for Loan and Lease Losses |
|
61 |
62 |
60 |
56 |
56 |
101 |
- |
88 |
107 |
193 |
Loans Held for Sale |
|
- |
- |
- |
- |
- |
- |
- |
- |
1.79 |
162 |
Premises and Equipment, Net |
|
89 |
84 |
63 |
58 |
55 |
76 |
81 |
80 |
71 |
120 |
Intangible Assets |
|
- |
- |
- |
- |
- |
466 |
464 |
461 |
458 |
819 |
Other Assets |
|
381 |
431 |
441 |
369 |
421 |
566 |
519 |
703 |
601 |
1,163 |
Total Liabilities & Shareholders' Equity |
|
8,912 |
9,500 |
9,845 |
9,726 |
9,809 |
12,920 |
13,781 |
13,783 |
14,211 |
24,052 |
Total Liabilities |
|
7,716 |
8,249 |
8,547 |
8,367 |
8,395 |
11,300 |
1,639 |
12,186 |
12,520 |
21,451 |
Interest Bearing Deposits |
|
5,924 |
6,554 |
6,714 |
6,830 |
7,103 |
9,838 |
1,461 |
10,563 |
10,293 |
18,624 |
Short-Term Debt |
|
1,708 |
1,613 |
1,743 |
1,442 |
- |
1,176 |
- |
1,337 |
1,970 |
2,020 |
Long-Term Debt |
|
- |
- |
- |
- |
1,125 |
25 |
- |
10 |
11 |
402 |
Other Long-Term Liabilities |
|
84 |
82 |
90 |
94 |
167 |
261 |
179 |
275 |
247 |
405 |
Total Equity & Noncontrolling Interests |
|
1,196 |
1,252 |
1,299 |
1,359 |
1,414 |
1,620 |
1,697 |
1,598 |
1,691 |
2,601 |
Total Preferred & Common Equity |
|
1,196 |
1,252 |
1,299 |
1,359 |
1,414 |
1,620 |
1,697 |
1,598 |
1,691 |
2,601 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
1,196 |
1,252 |
1,299 |
1,359 |
1,414 |
1,620 |
1,697 |
1,598 |
1,691 |
2,601 |
Common Stock |
|
995 |
1,001 |
1,009 |
1,018 |
1,004 |
959 |
971 |
979 |
987 |
1,836 |
Retained Earnings |
|
508 |
551 |
586 |
651 |
695 |
718 |
815 |
918 |
975 |
989 |
Treasury Stock |
|
-269 |
-264 |
-260 |
-272 |
-269 |
-59 |
-80 |
-127 |
-128 |
-88 |
Accumulated Other Comprehensive Income / (Loss) |
|
-2.55 |
-3.40 |
-7.47 |
-12 |
3.82 |
18 |
6.86 |
-165 |
-141 |
-135 |
Other Equity Adjustments |
|
-35 |
-32 |
-29 |
-25 |
-21 |
-16 |
-15 |
-6.80 |
-2.20 |
0.00 |
Quarterly Balance Sheets for Provident Financial Services
This table presents Provident Financial Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
13,604 |
13,779 |
14,030 |
14,087 |
14,131 |
24,070 |
24,043 |
24,225 |
Cash and Due from Banks |
|
185 |
234 |
209 |
189 |
158 |
291 |
244 |
234 |
Trading Account Securities |
|
2,223 |
2,204 |
2,130 |
2,028 |
2,022 |
2,997 |
3,077 |
3,212 |
Loans and Leases, Net of Allowance |
|
9,958 |
10,131 |
10,428 |
10,560 |
10,736 |
18,571 |
18,603 |
18,600 |
Loans and Leases |
|
10,047 |
10,224 |
10,531 |
10,668 |
10,843 |
18,759 |
18,795 |
18,791 |
Allowance for Loan and Lease Losses |
|
89 |
93 |
102 |
108 |
106 |
188 |
191 |
192 |
Loans Held for Sale |
|
- |
- |
- |
- |
- |
4.45 |
5.76 |
150 |
Premises and Equipment, Net |
|
81 |
72 |
71 |
71 |
69 |
127 |
125 |
115 |
Intangible Assets |
|
462 |
460 |
459 |
459 |
457 |
852 |
839 |
810 |
Other Assets |
|
695 |
663 |
732 |
779 |
687 |
1,229 |
1,148 |
1,104 |
Total Liabilities & Shareholders' Equity |
|
13,604 |
13,779 |
14,030 |
14,087 |
14,131 |
24,070 |
24,043 |
24,225 |
Total Liabilities |
|
12,053 |
1,565 |
12,387 |
12,464 |
12,436 |
21,515 |
21,421 |
21,566 |
Interest Bearing Deposits |
|
10,686 |
1,351 |
10,261 |
10,141 |
10,099 |
18,353 |
18,376 |
18,449 |
Short-Term Debt |
|
1,064 |
- |
1,850 |
2,022 |
2,058 |
2,302 |
2,215 |
2,336 |
Long-Term Debt |
|
10 |
11 |
11 |
11 |
11 |
413 |
414 |
403 |
Other Long-Term Liabilities |
|
293 |
203 |
266 |
290 |
268 |
447 |
417 |
378 |
Total Equity & Noncontrolling Interests |
|
1,551 |
1,640 |
1,642 |
1,623 |
1,695 |
2,556 |
2,621 |
2,659 |
Total Preferred & Common Equity |
|
1,551 |
1,640 |
1,642 |
1,623 |
1,695 |
2,556 |
2,621 |
2,659 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
1,551 |
1,637 |
1,642 |
1,623 |
1,695 |
2,556 |
2,621 |
2,659 |
Common Stock |
|
976 |
982 |
984 |
986 |
989 |
1,868 |
1,870 |
1,838 |
Retained Earnings |
|
886 |
941 |
954 |
965 |
988 |
958 |
973 |
1,021 |
Treasury Stock |
|
-127 |
-128 |
-128 |
-128 |
-129 |
-129 |
-129 |
-90 |
Accumulated Other Comprehensive Income / (Loss) |
|
-174 |
-148 |
-162 |
-195 |
-152 |
-140 |
-93 |
-110 |
Annual Metrics And Ratios for Provident Financial Services
This table displays calculated financial ratios and metrics derived from Provident Financial Services' official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
8.94% |
2.90% |
6.35% |
7.62% |
0.67% |
6.42% |
17.62% |
11.60% |
-5.16% |
44.95% |
EBITDA Growth |
|
14.01% |
2.81% |
8.94% |
0.23% |
6.79% |
-9.10% |
67.83% |
3.92% |
-25.38% |
2.49% |
EBIT Growth |
|
13.99% |
3.84% |
12.58% |
2.45% |
2.20% |
-13.28% |
78.06% |
5.72% |
-26.79% |
-14.88% |
NOPAT Growth |
|
13.70% |
4.87% |
7.00% |
26.01% |
-4.86% |
-13.92% |
73.20% |
4.60% |
-26.90% |
-10.03% |
Net Income Growth |
|
13.70% |
4.87% |
7.00% |
26.01% |
-4.86% |
-13.92% |
73.20% |
4.60% |
-26.90% |
-10.03% |
EPS Growth |
|
9.02% |
3.76% |
5.07% |
25.52% |
-4.40% |
-20.11% |
57.55% |
7.31% |
-27.23% |
-38.60% |
Operating Cash Flow Growth |
|
12.97% |
10.83% |
-7.92% |
32.84% |
-12.07% |
-24.56% |
51.80% |
27.74% |
-13.44% |
145.90% |
Free Cash Flow Firm Growth |
|
54.60% |
176.48% |
-165.13% |
533.25% |
4.64% |
-149.34% |
-4,848.58% |
202.39% |
-106.37% |
-106.98% |
Invested Capital Growth |
|
9.41% |
-1.35% |
6.17% |
-7.89% |
-9.36% |
11.10% |
330.43% |
-75.74% |
24.64% |
36.82% |
Revenue Q/Q Growth |
|
1.62% |
0.48% |
1.24% |
2.20% |
-0.64% |
5.07% |
1.20% |
3.65% |
-3.54% |
15.10% |
EBITDA Q/Q Growth |
|
-0.29% |
1.37% |
0.96% |
3.66% |
-3.03% |
15.28% |
0.23% |
4.83% |
-11.88% |
26.15% |
EBIT Q/Q Growth |
|
-0.21% |
1.48% |
1.79% |
4.78% |
-5.04% |
17.43% |
-0.36% |
6.75% |
-13.53% |
18.11% |
NOPAT Q/Q Growth |
|
0.35% |
1.21% |
-3.18% |
15.94% |
-8.01% |
17.75% |
-1.91% |
7.16% |
-14.47% |
22.49% |
Net Income Q/Q Growth |
|
0.35% |
1.21% |
-3.18% |
15.94% |
-8.01% |
17.75% |
-1.91% |
7.16% |
-14.47% |
22.49% |
EPS Q/Q Growth |
|
-0.75% |
1.47% |
-3.97% |
16.67% |
-8.42% |
14.88% |
-3.52% |
7.80% |
-14.93% |
0.96% |
Operating Cash Flow Q/Q Growth |
|
6.55% |
12.24% |
-12.10% |
-2.34% |
4.05% |
41.68% |
-13.41% |
4.18% |
2.29% |
82.67% |
Free Cash Flow Firm Q/Q Growth |
|
31.15% |
-52.03% |
-317.92% |
440.13% |
81.95% |
-3.07% |
-1,129.81% |
6,839.40% |
32.17% |
17.55% |
Invested Capital Q/Q Growth |
|
-1.39% |
3.54% |
7.62% |
-2.11% |
-8.60% |
-7.20% |
422.90% |
12.21% |
0.42% |
-4.31% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
47.72% |
47.68% |
48.84% |
45.49% |
48.25% |
41.21% |
58.81% |
54.76% |
43.09% |
30.47% |
EBIT Margin |
|
39.38% |
39.74% |
42.07% |
40.05% |
40.66% |
33.13% |
50.16% |
47.51% |
36.68% |
21.54% |
Profit (Net Income) Margin |
|
27.44% |
27.97% |
28.14% |
32.94% |
31.13% |
25.18% |
37.08% |
34.76% |
26.79% |
16.63% |
Tax Burden Percent |
|
69.67% |
70.36% |
66.88% |
82.26% |
76.58% |
76.01% |
73.94% |
73.15% |
73.05% |
77.21% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
30.33% |
29.64% |
33.12% |
17.74% |
23.42% |
23.99% |
26.06% |
26.85% |
26.95% |
22.79% |
Return on Invested Capital (ROIC) |
|
3.01% |
3.04% |
3.18% |
4.05% |
4.22% |
3.62% |
2.24% |
2.33% |
3.88% |
2.66% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
3.01% |
3.04% |
3.18% |
4.05% |
4.22% |
3.62% |
2.24% |
2.33% |
3.88% |
2.66% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.14% |
4.13% |
4.19% |
4.86% |
3.91% |
2.77% |
7.88% |
8.33% |
3.93% |
2.73% |
Return on Equity (ROE) |
|
7.16% |
7.17% |
7.37% |
8.91% |
8.12% |
6.39% |
10.13% |
10.66% |
7.81% |
5.38% |
Cash Return on Invested Capital (CROIC) |
|
-5.97% |
4.40% |
-2.80% |
12.27% |
14.04% |
-6.90% |
-122.35% |
124.24% |
-18.06% |
-28.44% |
Operating Return on Assets (OROA) |
|
1.38% |
1.36% |
1.45% |
1.47% |
1.51% |
1.12% |
1.70% |
1.74% |
1.26% |
0.78% |
Return on Assets (ROA) |
|
0.96% |
0.95% |
0.97% |
1.21% |
1.15% |
0.85% |
1.26% |
1.27% |
0.92% |
0.60% |
Return on Common Equity (ROCE) |
|
7.16% |
7.17% |
7.37% |
8.91% |
8.12% |
6.39% |
10.13% |
10.66% |
7.81% |
5.38% |
Return on Equity Simple (ROE_SIMPLE) |
|
7.00% |
7.01% |
7.23% |
8.71% |
7.97% |
5.99% |
9.89% |
10.99% |
7.59% |
4.44% |
Net Operating Profit after Tax (NOPAT) |
|
84 |
88 |
94 |
118 |
113 |
97 |
168 |
176 |
128 |
116 |
NOPAT Margin |
|
27.44% |
27.97% |
28.14% |
32.94% |
31.13% |
25.18% |
37.08% |
34.76% |
26.79% |
16.63% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
46.75% |
47.11% |
45.66% |
43.15% |
45.25% |
47.58% |
44.17% |
41.30% |
43.52% |
43.77% |
Operating Expenses to Revenue |
|
59.19% |
58.54% |
56.25% |
53.36% |
55.72% |
59.15% |
55.22% |
51.50% |
57.45% |
65.86% |
Earnings before Interest and Taxes (EBIT) |
|
120 |
125 |
140 |
144 |
147 |
128 |
227 |
240 |
176 |
150 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
146 |
150 |
163 |
163 |
175 |
159 |
266 |
277 |
207 |
212 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.75 |
1.05 |
1.01 |
0.89 |
0.90 |
0.73 |
0.96 |
0.89 |
0.75 |
0.93 |
Price to Tangible Book Value (P/TBV) |
|
1.16 |
1.59 |
1.49 |
1.29 |
1.30 |
1.02 |
1.32 |
1.25 |
1.03 |
1.36 |
Price to Revenue (P/Rev) |
|
2.94 |
4.19 |
3.92 |
3.38 |
3.52 |
3.05 |
3.59 |
2.81 |
2.65 |
3.50 |
Price to Earnings (P/E) |
|
10.71 |
14.98 |
13.92 |
10.25 |
11.31 |
12.12 |
9.68 |
8.08 |
9.91 |
21.04 |
Dividend Yield |
|
4.77% |
3.58% |
4.75% |
5.36% |
4.77% |
6.15% |
4.43% |
5.09% |
5.71% |
5.15% |
Earnings Yield |
|
9.34% |
6.67% |
7.19% |
9.75% |
8.84% |
8.25% |
10.33% |
12.37% |
10.09% |
4.75% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.86 |
0.99 |
0.96 |
0.90 |
0.87 |
0.65 |
0.09 |
0.88 |
0.84 |
0.93 |
Enterprise Value to Revenue (EV/Rev) |
|
8.20 |
9.03 |
8.72 |
6.99 |
6.12 |
4.79 |
2.47 |
5.11 |
6.41 |
6.69 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
17.19 |
18.95 |
17.85 |
15.38 |
12.67 |
11.62 |
4.20 |
9.33 |
14.88 |
21.96 |
Enterprise Value to EBIT (EV/EBIT) |
|
20.83 |
22.73 |
20.72 |
17.46 |
15.04 |
14.46 |
4.93 |
10.75 |
17.48 |
31.06 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
29.90 |
32.30 |
30.98 |
21.23 |
19.64 |
19.02 |
6.66 |
14.70 |
23.93 |
40.23 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
21.79 |
22.28 |
24.83 |
16.14 |
16.16 |
17.85 |
7.14 |
12.89 |
17.72 |
10.90 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
22.33 |
0.00 |
7.01 |
5.90 |
0.00 |
0.00 |
0.28 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.43 |
1.29 |
1.34 |
1.06 |
0.80 |
0.74 |
0.00 |
0.84 |
1.17 |
0.93 |
Long-Term Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.80 |
0.02 |
0.00 |
0.01 |
0.01 |
0.15 |
Financial Leverage |
|
1.37 |
1.36 |
1.32 |
1.20 |
0.93 |
0.77 |
3.51 |
3.58 |
1.01 |
1.03 |
Leverage Ratio |
|
7.45 |
7.52 |
7.59 |
7.36 |
7.04 |
7.49 |
8.05 |
8.37 |
8.51 |
8.92 |
Compound Leverage Factor |
|
7.45 |
7.52 |
7.59 |
7.36 |
7.04 |
7.49 |
8.05 |
8.37 |
8.51 |
8.92 |
Debt to Total Capital |
|
58.81% |
56.30% |
57.30% |
51.49% |
44.31% |
42.58% |
0.00% |
45.76% |
53.95% |
48.22% |
Short-Term Debt to Total Capital |
|
58.81% |
56.30% |
57.30% |
51.49% |
0.00% |
41.69% |
0.00% |
45.40% |
53.66% |
40.22% |
Long-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
44.31% |
0.89% |
0.00% |
0.36% |
0.29% |
8.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
41.19% |
43.70% |
42.70% |
48.51% |
55.69% |
57.42% |
100.00% |
54.24% |
46.05% |
51.78% |
Debt to EBITDA |
|
11.73 |
10.77 |
10.69 |
8.82 |
6.45 |
7.57 |
0.00 |
4.87 |
9.59 |
11.44 |
Net Debt to EBITDA |
|
11.04 |
10.16 |
9.83 |
7.95 |
5.38 |
4.21 |
0.00 |
4.20 |
8.72 |
10.47 |
Long-Term Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
6.45 |
0.16 |
0.00 |
0.04 |
0.05 |
1.90 |
Debt to NOPAT |
|
20.40 |
18.37 |
18.55 |
12.18 |
9.99 |
12.39 |
0.00 |
7.67 |
15.43 |
20.97 |
Net Debt to NOPAT |
|
19.19 |
17.31 |
17.06 |
10.98 |
8.33 |
6.90 |
0.00 |
6.61 |
14.02 |
19.18 |
Long-Term Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
9.99 |
0.26 |
0.00 |
0.06 |
0.08 |
3.48 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-166 |
127 |
-83 |
358 |
375 |
-185 |
-9,153 |
9,372 |
-597 |
-1,236 |
Operating Cash Flow to CapEx |
|
1,950.19% |
2,555.89% |
0.00% |
4,963.95% |
2,804.69% |
869.68% |
1,139.39% |
2,133.45% |
2,348.58% |
32,622.88% |
Free Cash Flow to Firm to Interest Expense |
|
-3.96 |
2.90 |
-1.81 |
6.06 |
5.10 |
-3.65 |
-252.04 |
192.73 |
-2.76 |
-2.78 |
Operating Cash Flow to Interest Expense |
|
2.74 |
2.91 |
2.57 |
2.63 |
1.86 |
2.04 |
4.32 |
4.12 |
0.80 |
0.96 |
Operating Cash Flow Less CapEx to Interest Expense |
|
2.60 |
2.80 |
2.95 |
2.58 |
1.80 |
1.80 |
3.94 |
3.93 |
0.77 |
0.95 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.03 |
0.03 |
0.04 |
0.04 |
0.03 |
0.03 |
0.04 |
0.03 |
0.04 |
Fixed Asset Turnover |
|
3.35 |
3.63 |
4.53 |
5.92 |
6.38 |
5.87 |
5.79 |
6.30 |
6.36 |
7.29 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
2,904 |
2,865 |
3,041 |
2,801 |
2,539 |
2,821 |
12,142 |
2,946 |
3,671 |
5,023 |
Invested Capital Turnover |
|
0.11 |
0.11 |
0.11 |
0.12 |
0.14 |
0.14 |
0.06 |
0.07 |
0.14 |
0.16 |
Increase / (Decrease) in Invested Capital |
|
250 |
-39 |
177 |
-240 |
-262 |
282 |
9,321 |
-9,196 |
726 |
1,352 |
Enterprise Value (EV) |
|
2,503 |
2,836 |
2,910 |
2,513 |
2,212 |
1,844 |
1,119 |
2,581 |
3,073 |
4,647 |
Market Capitalization |
|
896 |
1,316 |
1,307 |
1,214 |
1,274 |
1,175 |
1,625 |
1,420 |
1,272 |
2,431 |
Book Value per Share |
|
$18.19 |
$18.86 |
$19.45 |
$20.26 |
$21.43 |
$20.62 |
$21.93 |
$21.22 |
$22.36 |
$19.93 |
Tangible Book Value per Share |
|
$11.71 |
$12.49 |
$13.15 |
$14.02 |
$14.80 |
$14.68 |
$15.93 |
$15.10 |
$16.30 |
$13.66 |
Total Capital |
|
2,904 |
2,865 |
3,041 |
2,801 |
2,539 |
2,821 |
1,697 |
2,946 |
3,671 |
5,023 |
Total Debt |
|
1,708 |
1,613 |
1,743 |
1,442 |
1,125 |
1,201 |
0.00 |
1,348 |
1,981 |
2,422 |
Total Long-Term Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
1,125 |
25 |
0.00 |
10 |
11 |
402 |
Net Debt |
|
1,607 |
1,520 |
1,603 |
1,300 |
938 |
669 |
-506 |
1,161 |
1,800 |
2,216 |
Capital Expenditures (CapEx) |
|
5.89 |
4.98 |
-18 |
3.14 |
4.88 |
12 |
14 |
9.39 |
7.38 |
1.31 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,708 |
1,613 |
1,743 |
1,442 |
1,125 |
1,201 |
10,445 |
1,348 |
1,981 |
2,422 |
Total Depreciation and Amortization (D&A) |
|
25 |
25 |
23 |
20 |
27 |
31 |
39 |
37 |
31 |
62 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.33 |
$1.38 |
$1.46 |
$1.82 |
$1.74 |
$1.39 |
$2.20 |
$2.35 |
$1.72 |
$1.05 |
Adjusted Weighted Average Basic Shares Outstanding |
|
62.95M |
63.64M |
64.38M |
64.94M |
64.60M |
69.55M |
76.47M |
74.70M |
74.84M |
109.67M |
Adjusted Diluted Earnings per Share |
|
$1.33 |
$1.38 |
$1.45 |
$1.82 |
$1.74 |
$1.39 |
$2.19 |
$2.35 |
$1.71 |
$1.05 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
63.11M |
63.85M |
64.58M |
65.10M |
64.73M |
69.63M |
76.56M |
74.78M |
74.87M |
109.71M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.74 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
65.79M |
66.45M |
66.84M |
66.57M |
65.96M |
77.79M |
77.11M |
75.33M |
75.60M |
130.49M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
84 |
88 |
94 |
118 |
113 |
97 |
168 |
179 |
134 |
159 |
Normalized NOPAT Margin |
|
27.44% |
27.97% |
28.14% |
32.94% |
31.13% |
25.18% |
37.08% |
35.36% |
27.98% |
22.95% |
Pre Tax Income Margin |
|
39.38% |
39.74% |
42.07% |
40.05% |
40.66% |
33.13% |
50.16% |
47.51% |
36.68% |
21.54% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.87 |
2.85 |
3.08 |
2.43 |
2.00 |
2.51 |
6.25 |
4.94 |
0.81 |
0.34 |
NOPAT to Interest Expense |
|
2.00 |
2.01 |
2.06 |
2.00 |
1.53 |
1.91 |
4.62 |
3.61 |
0.59 |
0.26 |
EBIT Less CapEx to Interest Expense |
|
2.73 |
2.74 |
3.46 |
2.38 |
1.93 |
2.28 |
5.88 |
4.74 |
0.78 |
0.33 |
NOPAT Less CapEx to Interest Expense |
|
1.86 |
1.89 |
2.44 |
1.95 |
1.47 |
1.68 |
4.24 |
3.42 |
0.56 |
0.26 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
49.31% |
51.67% |
63.84% |
45.28% |
64.64% |
67.89% |
42.57% |
41.00% |
56.42% |
87.39% |
Augmented Payout Ratio |
|
49.31% |
53.45% |
64.31% |
56.40% |
82.28% |
89.72% |
54.90% |
67.49% |
56.42% |
87.39% |
Quarterly Metrics And Ratios for Provident Financial Services
This table displays calculated financial ratios and metrics derived from Provident Financial Services' official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
20.37% |
15.52% |
13.78% |
-1.59% |
-16.22% |
-13.28% |
-12.26% |
38.22% |
82.21% |
79.43% |
82.36% |
EBITDA Growth |
|
5.28% |
20.37% |
-9.58% |
-27.16% |
-26.95% |
-36.96% |
-19.61% |
-119.67% |
57.26% |
92.35% |
124.57% |
EBIT Growth |
|
19.72% |
29.15% |
-7.10% |
-18.54% |
-37.76% |
-40.89% |
-21.86% |
-148.86% |
74.53% |
57.69% |
113.76% |
NOPAT Growth |
|
16.51% |
31.45% |
-7.79% |
-18.42% |
-34.26% |
-44.30% |
-20.86% |
-146.63% |
62.56% |
77.66% |
99.58% |
Net Income Growth |
|
16.51% |
31.45% |
-7.79% |
-18.42% |
-34.26% |
-44.30% |
-20.86% |
-135.89% |
62.56% |
77.66% |
99.58% |
EPS Growth |
|
18.37% |
34.69% |
-6.90% |
-18.87% |
-34.48% |
-45.45% |
-20.37% |
-125.58% |
-5.26% |
2.78% |
13.95% |
Operating Cash Flow Growth |
|
65.43% |
23.39% |
14.00% |
-45.98% |
-26.01% |
9.14% |
-28.69% |
179.90% |
65.98% |
416.63% |
113.76% |
Free Cash Flow Firm Growth |
|
-134.38% |
199.59% |
-1,722.16% |
-436.19% |
-286.15% |
-107.55% |
183.65% |
-104.28% |
-54.40% |
-86.61% |
-118.48% |
Invested Capital Growth |
|
13.05% |
-75.74% |
501.89% |
34.82% |
39.27% |
24.64% |
-69.21% |
50.47% |
43.60% |
36.82% |
43.41% |
Revenue Q/Q Growth |
|
14.56% |
-4.07% |
-1.40% |
-9.18% |
-2.48% |
-0.69% |
-0.24% |
43.07% |
28.56% |
-2.21% |
1.38% |
EBITDA Q/Q Growth |
|
8.60% |
9.47% |
-17.02% |
-26.16% |
8.91% |
-5.53% |
-9.25% |
-118.07% |
970.79% |
15.54% |
23.55% |
EBIT Q/Q Growth |
|
12.16% |
11.97% |
-18.25% |
-20.65% |
-14.31% |
6.35% |
8.06% |
-149.61% |
406.10% |
-3.90% |
46.48% |
NOPAT Q/Q Growth |
|
10.69% |
12.93% |
-17.34% |
-21.05% |
-10.80% |
-4.33% |
17.46% |
-146.51% |
410.97% |
4.56% |
31.95% |
Net Income Q/Q Growth |
|
10.69% |
12.93% |
-17.34% |
-21.05% |
-10.80% |
-4.33% |
17.46% |
-135.80% |
504.05% |
4.56% |
31.95% |
EPS Q/Q Growth |
|
9.43% |
13.79% |
-18.18% |
-20.37% |
-11.63% |
-5.26% |
19.44% |
-125.58% |
427.27% |
2.78% |
32.43% |
Operating Cash Flow Q/Q Growth |
|
11.34% |
-24.67% |
36.82% |
-52.93% |
52.50% |
11.12% |
-10.60% |
84.75% |
-9.57% |
245.88% |
-63.01% |
Free Cash Flow Firm Q/Q Growth |
|
-59.49% |
3,662.00% |
-209.82% |
91.41% |
-14.86% |
30.31% |
1,315.96% |
-120.99% |
13.19% |
15.77% |
-20.44% |
Invested Capital Q/Q Growth |
|
1.03% |
12.21% |
315.02% |
-71.35% |
4.37% |
0.42% |
2.52% |
40.02% |
-0.39% |
-4.31% |
7.46% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
49.91% |
56.95% |
47.93% |
38.97% |
43.52% |
41.40% |
43.91% |
-5.55% |
37.56% |
44.38% |
54.08% |
EBIT Margin |
|
43.56% |
50.84% |
42.15% |
36.82% |
32.36% |
34.65% |
37.54% |
-13.02% |
30.99% |
30.45% |
44.00% |
Profit (Net Income) Margin |
|
31.48% |
37.06% |
31.07% |
27.01% |
24.70% |
23.80% |
28.02% |
-7.01% |
22.04% |
23.56% |
30.67% |
Tax Burden Percent |
|
72.27% |
72.90% |
73.72% |
73.35% |
76.35% |
68.68% |
74.66% |
53.87% |
71.11% |
77.38% |
69.71% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
27.73% |
27.10% |
26.28% |
26.65% |
23.65% |
31.32% |
25.34% |
0.00% |
28.89% |
22.62% |
30.29% |
Return on Invested Capital (ROIC) |
|
6.20% |
2.48% |
2.27% |
4.60% |
3.91% |
3.45% |
1.62% |
-1.06% |
2.99% |
3.77% |
5.28% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
6.20% |
2.48% |
2.27% |
4.60% |
3.91% |
3.45% |
1.62% |
-0.91% |
2.99% |
3.77% |
5.28% |
Return on Net Nonoperating Assets (RNNOA) |
|
3.30% |
8.89% |
7.66% |
4.09% |
3.83% |
3.49% |
6.16% |
-0.99% |
3.28% |
3.86% |
5.83% |
Return on Equity (ROE) |
|
9.50% |
11.37% |
9.93% |
8.69% |
7.73% |
6.94% |
7.79% |
-2.04% |
6.27% |
7.63% |
11.12% |
Cash Return on Invested Capital (CROIC) |
|
-5.62% |
124.24% |
-140.59% |
-24.25% |
-28.04% |
-18.06% |
107.33% |
-38.55% |
-33.68% |
-28.44% |
-32.45% |
Operating Return on Assets (OROA) |
|
1.57% |
1.86% |
1.60% |
1.38% |
1.16% |
1.19% |
1.25% |
-0.35% |
0.98% |
1.11% |
1.81% |
Return on Assets (ROA) |
|
1.14% |
1.36% |
1.18% |
1.01% |
0.89% |
0.81% |
0.93% |
-0.19% |
0.70% |
0.86% |
1.26% |
Return on Common Equity (ROCE) |
|
9.50% |
11.37% |
9.92% |
8.69% |
7.73% |
6.94% |
7.78% |
-2.04% |
6.27% |
7.63% |
11.12% |
Return on Equity Simple (ROE_SIMPLE) |
|
10.57% |
0.00% |
10.50% |
10.05% |
9.25% |
0.00% |
7.08% |
2.99% |
3.60% |
0.00% |
5.55% |
Net Operating Profit after Tax (NOPAT) |
|
43 |
49 |
41 |
32 |
29 |
27 |
32 |
-15 |
46 |
49 |
64 |
NOPAT Margin |
|
31.48% |
37.06% |
31.07% |
27.01% |
24.70% |
23.80% |
28.02% |
-9.11% |
22.04% |
23.56% |
30.67% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
-0.15% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
38.77% |
37.48% |
41.30% |
42.47% |
43.49% |
47.15% |
49.20% |
46.18% |
41.92% |
40.73% |
41.65% |
Operating Expenses to Revenue |
|
50.35% |
49.16% |
53.26% |
54.95% |
56.79% |
65.46% |
62.30% |
70.46% |
64.59% |
65.48% |
55.69% |
Earnings before Interest and Taxes (EBIT) |
|
60 |
67 |
55 |
44 |
37 |
40 |
43 |
-21 |
65 |
63 |
92 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
69 |
75 |
63 |
46 |
50 |
48 |
50 |
-9.08 |
79 |
91 |
113 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.85 |
0.89 |
0.81 |
0.70 |
0.67 |
0.75 |
0.63 |
0.42 |
0.92 |
0.93 |
0.84 |
Price to Tangible Book Value (P/TBV) |
|
1.21 |
1.25 |
1.12 |
0.97 |
0.93 |
1.03 |
0.86 |
0.63 |
1.36 |
1.36 |
1.21 |
Price to Revenue (P/Rev) |
|
2.69 |
2.81 |
2.53 |
2.21 |
2.19 |
2.65 |
2.31 |
2.12 |
4.01 |
3.50 |
2.84 |
Price to Earnings (P/E) |
|
8.01 |
8.08 |
7.66 |
6.95 |
7.24 |
9.91 |
8.92 |
14.07 |
25.68 |
21.04 |
15.19 |
Dividend Yield |
|
5.50% |
5.09% |
5.48% |
6.33% |
6.68% |
5.71% |
6.78% |
8.47% |
5.17% |
5.15% |
5.59% |
Earnings Yield |
|
12.48% |
12.37% |
13.05% |
14.40% |
13.81% |
10.09% |
11.21% |
7.11% |
3.89% |
4.75% |
6.58% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.84 |
0.88 |
0.09 |
0.80 |
0.80 |
0.84 |
0.79 |
0.66 |
0.92 |
0.93 |
0.88 |
Enterprise Value to Revenue (EV/Rev) |
|
4.52 |
5.11 |
2.10 |
5.39 |
5.90 |
6.41 |
6.43 |
6.88 |
7.96 |
6.69 |
6.01 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
8.34 |
9.33 |
4.06 |
11.06 |
12.51 |
14.88 |
15.34 |
25.18 |
28.65 |
21.96 |
17.30 |
Enterprise Value to EBIT (EV/EBIT) |
|
9.79 |
10.75 |
4.65 |
12.38 |
14.42 |
17.48 |
18.20 |
35.42 |
37.94 |
31.06 |
23.91 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
13.44 |
14.70 |
6.37 |
16.95 |
19.52 |
23.93 |
24.85 |
45.78 |
50.96 |
40.23 |
32.18 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
11.46 |
12.89 |
5.29 |
15.19 |
17.29 |
17.72 |
19.01 |
17.00 |
20.59 |
10.90 |
10.02 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.28 |
0.00 |
0.00 |
0.00 |
0.00 |
0.35 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.69 |
0.84 |
0.01 |
1.13 |
1.25 |
1.17 |
1.22 |
1.06 |
1.00 |
0.93 |
1.03 |
Long-Term Debt to Equity |
|
0.01 |
0.01 |
0.01 |
0.01 |
0.01 |
0.01 |
0.01 |
0.16 |
0.16 |
0.15 |
0.15 |
Financial Leverage |
|
0.53 |
3.58 |
3.37 |
0.89 |
0.98 |
1.01 |
3.79 |
1.09 |
1.10 |
1.03 |
1.10 |
Leverage Ratio |
|
8.36 |
8.37 |
8.40 |
8.60 |
8.72 |
8.51 |
8.37 |
9.08 |
8.98 |
8.92 |
8.81 |
Compound Leverage Factor |
|
8.36 |
8.37 |
8.40 |
8.60 |
8.72 |
8.51 |
8.37 |
9.08 |
8.98 |
8.92 |
8.81 |
Debt to Total Capital |
|
40.92% |
45.76% |
0.64% |
53.11% |
55.61% |
53.95% |
54.96% |
51.51% |
50.07% |
48.22% |
50.74% |
Short-Term Debt to Total Capital |
|
40.52% |
45.40% |
0.00% |
52.81% |
55.32% |
53.66% |
54.68% |
43.68% |
42.18% |
40.22% |
43.28% |
Long-Term Debt to Total Capital |
|
0.40% |
0.36% |
0.64% |
0.30% |
0.29% |
0.29% |
0.29% |
7.83% |
7.89% |
8.00% |
7.46% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
59.08% |
54.24% |
99.16% |
46.89% |
44.39% |
46.05% |
45.04% |
48.49% |
49.93% |
51.78% |
49.26% |
Debt to EBITDA |
|
4.07 |
4.87 |
0.04 |
7.36 |
8.67 |
9.59 |
10.65 |
19.53 |
15.67 |
11.44 |
9.99 |
Net Debt to EBITDA |
|
3.37 |
4.20 |
-0.83 |
6.53 |
7.87 |
8.72 |
9.84 |
17.44 |
14.21 |
10.47 |
9.13 |
Long-Term Debt to EBITDA |
|
0.04 |
0.04 |
0.04 |
0.04 |
0.05 |
0.05 |
0.06 |
2.97 |
2.47 |
1.90 |
1.47 |
Debt to NOPAT |
|
6.55 |
7.67 |
0.06 |
11.27 |
13.54 |
15.43 |
17.25 |
35.51 |
27.87 |
20.97 |
18.57 |
Net Debt to NOPAT |
|
5.42 |
6.61 |
-1.30 |
10.01 |
12.28 |
14.02 |
15.93 |
31.71 |
25.28 |
19.18 |
16.99 |
Long-Term Debt to NOPAT |
|
0.06 |
0.06 |
0.06 |
0.06 |
0.07 |
0.08 |
0.09 |
5.40 |
4.39 |
3.48 |
2.73 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.10% |
0.00% |
0.00% |
0.00% |
0.10% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-260 |
9,246 |
-10,153 |
-873 |
-1,002 |
-698 |
8,493 |
-1,783 |
-1,547 |
-1,303 |
-1,570 |
Operating Cash Flow to CapEx |
|
2,911.42% |
2,770.24% |
10,538.29% |
1,165.05% |
1,419.65% |
2,988.19% |
7,725.56% |
7,830.30% |
5,362.95% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
-21.20 |
400.00 |
-288.18 |
-17.18 |
-16.18 |
-10.21 |
121.00 |
-16.77 |
-11.15 |
-10.01 |
-12.70 |
Operating Cash Flow to Interest Expense |
|
4.60 |
1.84 |
1.65 |
0.54 |
0.67 |
0.68 |
0.59 |
0.72 |
0.50 |
1.84 |
0.72 |
Operating Cash Flow Less CapEx to Interest Expense |
|
4.44 |
1.77 |
1.63 |
0.49 |
0.63 |
0.65 |
0.58 |
0.71 |
0.49 |
1.85 |
0.73 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.04 |
0.04 |
Fixed Asset Turnover |
|
6.13 |
6.30 |
6.70 |
6.82 |
6.53 |
6.36 |
6.53 |
5.14 |
6.15 |
7.29 |
8.53 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
2,625 |
2,946 |
12,225 |
3,503 |
3,656 |
3,671 |
3,764 |
5,270 |
5,250 |
5,023 |
5,398 |
Invested Capital Turnover |
|
0.20 |
0.07 |
0.07 |
0.17 |
0.16 |
0.14 |
0.06 |
0.12 |
0.14 |
0.16 |
0.17 |
Increase / (Decrease) in Invested Capital |
|
303 |
-9,196 |
10,194 |
905 |
1,031 |
726 |
-8,461 |
1,768 |
1,594 |
1,352 |
1,634 |
Enterprise Value (EV) |
|
2,202 |
2,581 |
1,097 |
2,797 |
2,931 |
3,073 |
2,980 |
3,500 |
4,806 |
4,647 |
4,745 |
Market Capitalization |
|
1,313 |
1,420 |
1,320 |
1,146 |
1,087 |
1,272 |
1,070 |
1,076 |
2,422 |
2,431 |
2,241 |
Book Value per Share |
|
$20.60 |
$21.22 |
$21.73 |
$21.74 |
$21.46 |
$22.36 |
$22.52 |
$33.63 |
$20.09 |
$19.93 |
$20.38 |
Tangible Book Value per Share |
|
$14.47 |
$15.10 |
$15.62 |
$15.66 |
$15.40 |
$16.30 |
$16.45 |
$22.43 |
$13.66 |
$13.66 |
$14.17 |
Total Capital |
|
2,625 |
2,946 |
1,651 |
3,503 |
3,656 |
3,671 |
3,764 |
5,270 |
5,250 |
5,023 |
5,398 |
Total Debt |
|
1,074 |
1,348 |
11 |
1,860 |
2,033 |
1,981 |
2,069 |
2,715 |
2,629 |
2,422 |
2,739 |
Total Long-Term Debt |
|
10 |
10 |
11 |
11 |
11 |
11 |
11 |
413 |
414 |
402 |
403 |
Net Debt |
|
889 |
1,161 |
-223 |
1,651 |
1,844 |
1,800 |
1,910 |
2,424 |
2,385 |
2,216 |
2,505 |
Capital Expenditures (CapEx) |
|
1.94 |
1.53 |
0.55 |
2.35 |
2.94 |
1.55 |
0.54 |
0.98 |
1.29 |
-1.50 |
-1.21 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-3.44 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,074 |
1,348 |
10,585 |
1,860 |
2,033 |
1,981 |
2,069 |
2,715 |
2,629 |
2,422 |
2,739 |
Total Depreciation and Amortization (D&A) |
|
8.76 |
8.09 |
7.54 |
2.54 |
13 |
7.74 |
7.30 |
12 |
14 |
29 |
21 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.58 |
$0.66 |
$0.54 |
$0.43 |
$0.38 |
$0.37 |
$0.43 |
($0.11) |
$0.36 |
$0.37 |
$0.49 |
Adjusted Weighted Average Basic Shares Outstanding |
|
74.30M |
74.70M |
74.65M |
74.82M |
74.91M |
74.84M |
75.26M |
102.96M |
129.94M |
109.67M |
130.33M |
Adjusted Diluted Earnings per Share |
|
$0.58 |
$0.66 |
$0.54 |
$0.43 |
$0.38 |
$0.36 |
$0.43 |
($0.11) |
$0.36 |
$0.37 |
$0.49 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
74.39M |
74.78M |
74.70M |
74.83M |
74.91M |
74.87M |
75.28M |
102.96M |
130.00M |
109.71M |
130.38M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
75.28M |
75.33M |
75.56M |
75.61M |
75.61M |
75.60M |
75.98M |
130.49M |
130.49M |
130.49M |
130.66M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
46 |
49 |
41 |
33 |
30 |
29 |
34 |
-1.68 |
57 |
64 |
64 |
Normalized NOPAT Margin |
|
32.99% |
37.06% |
31.69% |
28.22% |
26.22% |
25.28% |
29.46% |
-1.03% |
27.30% |
31.15% |
30.67% |
Pre Tax Income Margin |
|
43.56% |
50.84% |
42.15% |
36.82% |
32.36% |
34.65% |
37.54% |
-13.02% |
30.99% |
30.45% |
44.00% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
4.91 |
2.91 |
1.56 |
0.86 |
0.60 |
0.58 |
0.61 |
-0.20 |
0.47 |
0.48 |
0.74 |
NOPAT to Interest Expense |
|
3.55 |
2.12 |
1.15 |
0.63 |
0.46 |
0.40 |
0.46 |
-0.14 |
0.33 |
0.37 |
0.52 |
EBIT Less CapEx to Interest Expense |
|
4.75 |
2.84 |
1.55 |
0.81 |
0.56 |
0.56 |
0.60 |
-0.21 |
0.46 |
0.49 |
0.75 |
NOPAT Less CapEx to Interest Expense |
|
3.39 |
2.06 |
1.13 |
0.58 |
0.41 |
0.38 |
0.45 |
-0.15 |
0.33 |
0.38 |
0.53 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
44.11% |
41.00% |
41.77% |
43.64% |
48.02% |
56.42% |
60.03% |
95.32% |
91.31% |
87.39% |
77.77% |
Augmented Payout Ratio |
|
76.64% |
67.49% |
41.77% |
43.64% |
48.02% |
56.42% |
60.03% |
95.32% |
91.31% |
87.39% |
77.77% |
Key Financial Trends
Provident Financial Services (NYSE: PFS) has shown solid financial performance over the last several quarters and years, demonstrating growth in key revenue drivers and effective cost management, with some areas of volatility tied to credit and investment activities.
Revenue and Income Trends:
- Net interest income has generally increased, reaching $181.7 million in Q1 2025, up from $93.7 million in Q1 2024, reflecting higher loans and leases interest income ($273 million in Q1 2025 vs. $148 million in Q1 2024).
- Non-interest income also grew to $27.0 million in Q1 2025 from $20.8 million in Q1 2024, supported by increased service charges and trust fees.
- Net income attributable to common shareholders increased significantly to $64.0 million in Q1 2025, compared to $32.1 million in Q1 2024, with diluted EPS rising from $0.43 to $0.49.
- Provision for credit losses remains relatively low in early 2025 ($638,000 in Q1) compared to elevated provisions in 2024, including a peak of $69.7 million in Q2 2024, indicating improved credit conditions recently.
Expenses and Costs:
- Total non-interest expenses in Q1 2025 were $116.3 million, down from $71.3 million in Q1 2024 but elevated compared to some previous quarters, reflecting increased salaries/benefits and other operating expenses due to business growth.
- Amortization and depreciation expenses have increased moderately, which accompanies higher intangible assets and investments in property and equipment.
- Restructuring charges were zero in the most recent quarter (Q1 2025), but have been historically significant (e.g., $20.1 million in Q4 2024), representing occasional costs related to operational changes.
Balance Sheet Highlights:
- Total assets expanded to $24.2 billion in Q1 2025 from $14.1 billion in Q1 2024, driven mainly by increases in trading account securities ($3.2 billion) and loans and leases ($18.8 billion), signaling strong balance sheet growth.
- Allowance for loan losses rose in line with loan growth to $191.8 million, maintaining a prudent credit risk buffer.
- Deposits increased substantially to $18.45 billion interest bearing deposits as of Q1 2025, up from $10.1 billion in Q1 2024, indicating strong customer deposit growth.
- Long-term debt also rose to $402.9 million in Q1 2025 from $10.7 million a year ago, indicating increased use of leverage for growth financing.
- Total common equity increased to about $2.66 billion in Q1 2025 from $1.7 billion in Q1 2024, boosting capital adequacy and supporting growth.
Cash Flow Insights:
- Consistent positive net cash from operating activities ($88.5 million in Q1 2025) shows good core business cash generation.
- Significant net cash outflows from investing activities in Q1 2025 ($176.5 million), due mainly to purchases of investment securities, indicating ongoing investment deployment but a cash use.
- Net cash from financing activities was positive in Q1 2025 ($116.1 million), reflecting debt issuance partially offsetting debt repayments and dividend payments.
Summary:
Provident Financial Services has shown clear improvements in net income and EPS in recent quarters following challenging credit provisions in early 2024. The company has expanded its asset base significantly with strong loan growth and deposit inflows. Increasing equity capital supports this growth, although the rise in debt suggests moderate leverage increase. Operating cash flow remains strong, funding investments and dividends, while restructuring charges have subsided to none recently.
Investors should monitor credit loss provisions as they normalize, expense levels especially related to restructuring, and the pace of loan and deposit growth. But overall, PFS exhibits positive trends in profitability, capital strength, and operational cash generation over the past year.
08/28/25 11:20 PM ETAI Generated. May Contain Errors.