A Business at a Glance
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PROVIDENT FINANCIAL SERVICES INC
PFS
$3.1B
Mkt Cap
$23.89
+0.55%
PROVIDENT FINANCIAL SERVICES INC (PFS) has a current P/E ratio of 10.7, compared to its historical median P/E of 9.8. The stock is currently considered Fair based on its historical valuation range.
PROVIDENT FINANCIAL SERVICES INC (PFS) has a 5-year average return on invested capital (ROIC) of 4.9%. This is below average and may indicate limited pricing power.
PROVIDENT FINANCIAL SERVICES INC (PFS) has a market capitalization of $3.1B. It is classified as a mid-cap stock.
Yes, PROVIDENT FINANCIAL SERVICES INC (PFS) pays a dividend with a trailing twelve-month yield of 4.03%.
Based on historical P/E analysis, PROVIDENT FINANCIAL SERVICES INC (PFS) appears fair. The current P/E of 10.7 is 9% above its historical median of 9.8. The estimated fair value CAGR (P/E method) is -0.9%.
PROVIDENT FINANCIAL SERVICES INC (PFS) operates in the Savings Institution, Federally Chartered industry, within the Financials sector.
Provident Financial Services, Inc. The Company is a Delaware corporation which became the holding company for Provident Bank (the “Bank”) on January 15, 2003, following the completion of the Bank's conversion to a New Jersey-chartered capital stock savings bank. On January 15, 2003, the Company issued an aggregate of 59,618,300 shares of its common stock, par value $0.01 per share in a subscription offering, and contributed $4.8 million in cash and 1,920,000 shares of its common stock, which amounted to $24.0 million in aggregate, to The Provident Bank Foundation, a charitable foundation established by the Bank. The Company recognized an expense, net of income tax benefit, equal to the cash and fair value of the stock during 2003. Conversion costs were deferred and deducted from the proceeds of the shares sold in the offering. As a result of the conversion and related stock offering, the Company raised $567.2 million in net proceeds, of which $293.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 887M | 1.4B | 1.1B | 696M | 554M | 489M |
| Net Income | 307M | 291M | 116M | 128M | 176M | 168M |
| EPS | $2.35 | $2.23 | $1.05 | $0.86 | $1.18 | $1.10 |
| Free Cash Flow | 424M | 431M | 425M | 166M | 191M | 143M |
| ROIC | 0.0% | 8.1% | 3.7% | 3.3% | 4.3% | 5.0% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.69 | 0.67 | 1.11 | 1.17 | 3.24 | 0.53 |
| Dividends/Share | $0.96 | $0.96 | $0.96 | $0.48 | $0.48 | $0.46 |
| Operating Income | 0 | 408M | 150M | 176M | 33M | 29M |
| Operating Margin | 0.0% | 29.5% | 13.1% | 25.3% | 5.9% | 6.0% |
| ROE | 10.7% | 10.7% | 5.4% | 7.8% | 10.7% | 10.1% |
| Shares Outstanding | 130M | 131M | 110M | 150M | 149M | 153M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 321M | 347M | 358M | 380M | 419M | 435M | 436M | 489M | 554M | 696M | 1.1B | 1.4B | 887M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 92M | 100M | 106M | 109M | 111M | 117M | 131M | 143M | 147M | 148M | 218M | 253M | 257M |
| EBIT | 3.9M | 6.1M | 19M | 19M | 21M | 22M | 27M | 29M | 33M | 176M | 150M | 408M | 0 |
| Op. Margin | 1.2% | 1.8% | 5.4% | 5.1% | 5.1% | 5.2% | 6.2% | 6.0% | 5.9% | 25.3% | 13.1% | 29.5% | 0.0% |
| Net Income | 74M | 84M | 88M | 94M | 118M | 113M | 97M | 168M | 176M | 128M | 116M | 291M | 307M |
| Net Margin | 23.0% | 24.1% | 24.5% | 24.8% | 28.3% | 25.9% | 22.2% | 34.3% | 31.7% | 18.5% | 10.1% | 21.1% | 34.6% |
| Non-Recurring | 5K | 4K | 14K | 20K | 25K | 0 | 947K | 42K | 22K | -154K | 0 | 681K | 681K |
| Returns on Capital | |||||||||||||
| ROIC | 4.8% | 4.6% | 5.0% | 5.8% | 6.4% | 4.8% | 2.9% | 5.0% | 4.3% | 3.3% | 3.7% | 8.1% | 0.0% |
| ROE | 6.8% | 7.2% | 7.2% | 7.4% | 8.9% | 8.1% | 6.4% | 10.1% | 10.7% | 7.8% | 5.4% | 10.7% | 10.7% |
| ROA | 0.9% | 1.0% | 1.0% | 1.0% | 1.2% | 1.2% | 0.9% | 1.3% | 1.3% | 0.9% | 0.6% | 1.2% | 1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 102M | 115M | 127M | 117M | 156M | 137M | 103M | 157M | 200M | 173M | 426M | 442M | 438M |
| Free Cash Flow | 85M | 109M | 122M | 114M | 153M | 132M | 90M | 143M | 191M | 166M | 425M | 431M | 424M |
| Owner Earnings | 90M | 99M | 113M | 105M | 144M | 125M | 91M | 143M | 186M | 160M | 384M | 388M | 244M |
| CapEx | 16M | 5.9M | 5.0M | 3.2M | 3.2M | 4.9M | 13M | 14M | 9.4M | 7.5M | 1.3M | 12M | 14M |
| Maint. CapEx | 11M | 14M | 13M | 12M | 10M | 10M | 11M | 13M | 13M | 12M | 41M | 51M | 191M |
| Growth CapEx | 5.3M | 0 | 0 | 0 | 0 | 0 | 1.8M | 1.1M | 0 | 0 | 0 | 0 | 0 |
| D&A | 11M | 14M | 13M | 12M | 10M | 10M | 11M | 13M | 13M | 12M | 41M | 51M | 191M |
| CapEx/OCF | 16.2% | 5.1% | 3.9% | 2.8% | 2.0% | 3.6% | 12.0% | 8.8% | 4.7% | 4.3% | 0.3% | 2.6% | 3.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 36M | 41M | 45M | 60M | 54M | 73M | 66M | 71M | 72M | 72M | 101M | 126M | 125M |
| Dividend Yield | 1.4% | 2.8% | 2.6% | 2.7% | 2.3% | 3.1% | 4.0% | 2.6% | 2.6% | 3.1% | 5.9% | 5.5% | 4.0% |
| Share Buybacks | 3.5M | 0 | 1.6M | 443K | 13M | 20M | 21M | 21M | 47M | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.5% | N/A | 0.1% | 0.0% | 1.2% | 1.7% | 2.2% | 1.4% | 3.5% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 873K | 2.0M | 1.2M | 778K | 1.9M | 2.0M | 969K | 961K | 1.0M | 1.7M | 1.3M | 2.9M | 3.2M |
| Debt Repayment | 290M | 550M | 485M | 540M | 804M | 1.5B | 2.3B | 8.4M | 3.3B | 58M | 1.4B | 352M | 352M |
| Balance Sheet | |||||||||||||
| Net Debt | 378M | 644M | 194M | -558M | -702M | 69M | 498M | 193M | 5.0B | 1.8B | 2.7B | 1.7B | 1.8B |
| Cash & Equiv. | 104M | 102M | 144M | 191M | 143M | 187M | 532M | 712M | 187M | 180M | 206M | 211M | 222M |
| Long-Term Debt | 595M | 695M | 355M | 347M | 695M | 1.2B | 2.4B | 914M | 4.0B | 535M | 1.4B | 352M | 50M |
| Debt/Equity | 0.42 | 0.63 | 0.31 | 0.52 | 0.37 | 0.87 | 1.32 | 0.53 | 3.24 | 1.17 | 1.11 | 0.67 | 0.69 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 1.1B | 1.2B | 1.3B | 1.3B | 1.4B | 1.4B | 1.6B | 1.7B | 1.6B | 1.7B | 2.6B | 2.8B | 2.9B |
| Total Assets | 8.5B | 8.9B | 9.5B | 9.8B | 9.7B | 9.8B | 12.9B | 13.8B | 13.8B | 14.2B | 24.1B | 25.0B | 25.2B |
| Total Liabilities | 7.4B | 7.7B | 8.2B | 8.5B | 8.4B | 8.4B | 11.3B | 12.1B | 12.2B | 12.5B | 21.5B | 22.1B | 22.3B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | 23M | 21M | 17M | 14M | 195M | 158M | 0 |
| Retained Earnings | 465M | 508M | 551M | 586M | 651M | 695M | 718M | 815M | 918M | 975M | 989M | 1.2B | 1.2B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.31 | 0.67 | 0.69 | 0.73 | 0.91 | 0.87 | 0.70 | 1.10 | 1.18 | 0.86 | 1.05 | 2.23 | 2.35 |
| Owner EPS | 0.37 | 0.79 | 0.89 | 0.81 | 1.10 | 0.96 | 0.65 | 0.93 | 1.25 | 1.07 | 3.49 | 2.97 | 1.87 |
| Book Value | 4.74 | 9.50 | 9.84 | 10.02 | 10.45 | 10.92 | 11.61 | 11.07 | 10.69 | 11.26 | 23.64 | 21.70 | 21.97 |
| Cash Flow/Share | 0.42 | 0.91 | 1.00 | 0.90 | 1.20 | 1.06 | 0.74 | 1.02 | 1.34 | 1.15 | 3.88 | 3.39 | 3.82 |
| Dividends/Share | 0.15 | 0.33 | 0.36 | 0.47 | 0.41 | 0.56 | 0.46 | 0.46 | 0.48 | 0.48 | 0.96 | 0.96 | 0.96 |
| Shares Out. | 241.4M | 125.9M | 127.2M | 129.6M | 130.1M | 129.5M | 139.5M | 153.4M | 149.5M | 150.2M | 110.0M | 130.6M | 130.3M |
| Valuation | |||||||||||||
| P/E Ratio | 9.1 | 9.6 | 13.4 | 12.8 | 9.2 | 10.3 | 10.1 | 9.0 | 7.6 | 9.6 | 16.9 | 9.0 | 10.2 |
| P/FCF | 31.3 | 14.7 | 19.2 | 21.1 | 14.2 | 17.6 | 21.5 | 21.1 | 14.0 | 14.8 | 4.6 | 6.1 | 7.3 |
| EV/EBIT | 265.2 | 236.9 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 0.6 | 0.7 | 0.9 | 0.9 | 0.8 | 0.8 | 0.6 | 0.9 | 0.8 | 0.7 | 0.8 | 0.9 | 1.1 |
| Price/Sales | 2.2 | 2.4 | 2.7 | 3.3 | 3.2 | 3.2 | 2.1 | 3.0 | 2.8 | 2.4 | 2.5 | 2.6 | 3.5 |
| FCF Yield | 12.8% | 13.6% | 10.4% | 9.5% | 14.1% | 11.4% | 9.3% | 9.5% | 14.3% | 13.5% | 21.8% | 16.4% | 13.6% |
| Market Cap | 667M | 802M | 1.2B | 1.2B | 1.1B | 1.2B | 975M | 1.5B | 1.3B | 1.2B | 2.0B | 2.6B | 3.1B |
| Avg. Price | 10.43 | 11.77 | 13.49 | 17.18 | 17.76 | 17.92 | 11.67 | 17.97 | 18.79 | 15.47 | 15.58 | 17.65 | 23.89 |
| Year-End Price | 11.05 | 12.74 | 18.49 | 18.52 | 16.66 | 17.92 | 13.97 | 19.67 | 17.82 | 16.40 | 17.73 | 20.15 | 23.89 |
PROVIDENT FINANCIAL SERVICES INC passes 3 of 9 quality checks, indicating weak fundamentals.
PROVIDENT FINANCIAL SERVICES INC trades at 10.7x trailing earnings, compared to its 15-year median P/E of 9.8x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 7.2x vs a median of 16.2x. The company's 5-year average ROIC is 4.9%. Total shareholder yield (dividends) is 4.0%. At current prices, the estimated annualized return to fair value is +7.6%.
PROVIDENT FINANCIAL SERVICES INC (PFS) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
PROVIDENT FINANCIAL SERVICES INC (PFS) has a net profit margin of 21.1%. This is a strong margin indicating high profitability.
PROVIDENT FINANCIAL SERVICES INC (PFS) generated $431 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PROVIDENT FINANCIAL SERVICES INC (PFS) has a debt-to-equity ratio of 0.67. This indicates moderate leverage.
PROVIDENT FINANCIAL SERVICES INC (PFS) reported earnings per share (EPS) of $2.23 in its most recent fiscal year.
PROVIDENT FINANCIAL SERVICES INC (PFS) has a return on equity (ROE) of 10.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 18 years of financial data for PROVIDENT FINANCIAL SERVICES INC (PFS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PROVIDENT FINANCIAL SERVICES INC (PFS) has a book value per share of $21.70, based on its most recent annual SEC filing.