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Arphra AIPlain-English read on F.N.B. Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $1.34B | $1.61B | $2.23B | $2.57B | $2.69B | $1.9B | $2.06B | $2.18B |
| Cost of revenue | $99M | $229M | $728M | $1.05B | $1.02B | $703.7M | $783.46M | $786.39M |
| Gross profit | $1.24B | $1.38B | $1.5B | $1.52B | $1.68B | $1.19B | $1.29B | $1.34B |
| Gross margin | +92.58% | +85.76% | +67.31% | +59.03% | +62.31% | +62.54% | +62.63% | +61.47% |
| Operating | ||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $450M | $462M | $540M | $566M | $715.78M | $472.89M | $497.96M | $536.32M |
| Total operating expenses | $733M | $826M | $915M | $961M | $1.01B | $755.97M | $795.89M | $840.3M |
| Operating income | $503M | $553M | $584M | $555M | $669.36M | $464.5M | $499.3M | $528.61M |
| Operating margin | +37.68% | +34.39% | +26.22% | +21.61% | +24.84% | +24.42% | +24.29% | +24.29% |
| EBITDA | $513M | $626M | $662M | $622M | $669.36M | $492.1M | $525.37M | $585.53M |
| EBIT | $503M | $553M | $584M | $555M | $669.36M | $469.16M | $488.85M | $522.81M |
| Below the line | ||||||||
| Interest expense | $98M | $165M | $656M | $971.71M | $929.79M | $646.17M | $711.69M | $727.31M |
| Interest income | $1.01B | $1.29B | $1.97B | $2.25B | $2.35B | $1.64B | $1.84B | $1.88B |
| Other income / expense | $0 | $0 | $0 | $0 | $0 | — | — | — |
| Pre-tax income | $503M | $553M | $584M | $555M | $669.36M | $472.78M | $492.73M | $542.63M |
| Income tax expense | $98M | $114M | $99M | $90M | $103.97M | $76.81M | $79.32M | $87.41M |
| Earnings | ||||||||
| Net income | $405M | $439M | $485M | $465M | $565.39M | $381.7M | $414.71M | $429.19M |
| Net income · continuing ops | $405M | $439M | $485M | $465M | $565.39M | $381.04M | $415.49M | $447.32M |
| Net margin | +30.34% | +27.30% | +21.78% | +18.11% | +20.98% | +20.06% | +20.18% | +19.72% |
| EPS · basic | $1.24 | $1.23 | $1.32 | $1.27 | $1.57 | $1.71 | $1.99 | $2.23 |
| EPS · diluted | $1.23 | $1.22 | $1.31 | $1.27 | $1.56 | $1.72 | $1.96 | $2.19 |
| EPS · low estimate | — | — | — | — | — | $1.69 | $1.93 | $2.17 |
| EPS · high estimate | — | — | — | — | — | $1.74 | $2.05 | $2.22 |
| Shares · basic | 319.79M | 349.98M | 361.22M | 361.27M | 359.12M | 357.53M | 357.9M | 357.47M |
| Shares · diluted | 323.48M | 354.05M | 362.9M | 362.64M | 361.95M | 363.57M | 365.54M | 362.71M |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 5 | 5 | 1 |
| Analysts (EPS) | — | — | — | — | — | 7 | 7 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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