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 demonstrated solid financial performance over the last four years through Q1 2025, showing growth in several key areas, including net income and total assets, while managing expenses and credit losses effectively.
Income Statement Trends:
- Net interest income has generally increased over the period, from approximately $93.7 million in Q1 2024 to about $181.7 million in Q1 2025, reflecting higher interest income on loans and leases despite a rise in interest expense.
- Net income attributable to common shareholders rose significantly from $32 million in Q1 2024 to $64 million in Q1 2025, nearly doubling, indicating improved profitability.
- Earnings per share (diluted) increased from $0.43 in Q1 2024 to $0.49 in Q1 2025, aided by a larger net income and shares outstanding remaining relatively stable.
- Provision for credit losses showed volatility; it was low in Q1 2025 ($638,000) indicating lower expected loan losses, but showed spikes in previous quarters (e.g., $69.7 million in Q2 2024), suggesting some prior credit stress.
- Total non-interest expenses increased, with Q1 2025 incurring approximately $116 million compared to $71 million in Q1 2024, reflecting higher operating costs including salaries and amortization expenses.
Cash Flow Highlights:
- Strong net cash flow from operating activities in Q1 2025 of $88.5 million, up significantly from $41.4 million in Q1 2024, showing robust core operations generating cash.
- Net cash used in investing activities remains substantial, e.g., -$176 million in Q1 2025 mainly due to significant purchases of investment securities, though partially offset by sales.
- Net cash from financing activities improved to $116 million in Q1 2025 from a negative amount in Q1 2024, driven by issuance of debt and management of deposits, though dividend payments continued steadily.
Balance Sheet Developments:
- Total assets increased from $13.78 billion in Q1 2024 to $24.22 billion in Q1 2025, reflecting growth in loans and leases as well as trading account securities, indicating expansion.
- Loans and leases net of allowance grew strongly from approximately $10.7 billion in Q1 2024 to $18.6 billion in Q1 2025, supporting higher interest income potential.
- Allowance for loan and lease losses has increased in absolute terms, but relative to loans, it appears stable, supporting management’s prudent credit risk provisioning.
- Common equity rose from about $1.7 billion in Q1 2024 to $2.66 billion in Q1 2025, enhancing the capital base backing the bank’s growth.
- Short-term and long-term debt levels have increased, e.g. long-term debt moved from $10.7 million in Q1 2024 to $402.9 million in Q1 2025, potentially increasing interest expense and financial risk.
Summary: Provident Financial Services has exhibited solid growth in net income, assets, and earnings per share over the past four years into early 2025. The increase in loan volumes and investments fuels higher interest income, while the company carefully manages credit losses and operating expenses. Rising debt levels and increased non-interest expenses warrant continued monitoring. Overall, the financials suggest a positive trajectory with expanding profitability and asset base, balanced against some increases in financial leverage and expenses.
08/08/25 06:01 PMAI Generated. May Contain Errors.