KRNY

Kearny Financial Corp.

$6.18

0.17

(2.83%)

Exchange:	NASDAQ
Market Cap:	399.103M
Shares Outstanding:	17593

Overview

Earnings

Financials

Valuation

Chart

About The Company

Kearny Financial Corp. operates as the holding company for Kearny Bank that provides various banking products and services in the United States. The company offers various deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, savings accounts, and certificates of deposit accounts. It also provides various loans, such as multi-family and nonresidential real estate mortgage loans, commercial term loans and lines of credit, one- to four-family first mortgage loans, and home equity loans and lines of credit; loans to individuals for the construction or renovation of one- to four-family residences, or for the construction of commercial real estate or multi-family residential buildings; overdraft lines of credit; and personal loans. In addition, the company engages in investment activities. As of August 18, 2021, it operated a total of 48 branch offices located throughout northern and central New Jersey and Brooklyn and Staten Island, New York. The company was founded in 1884 and is headquartered in Fairfield, New Jersey.

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Revenue Segmentation

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EPS

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Earnings Call

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Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Income Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Revenue	88,549	105,712	113,922	134,556	168,868	169,073	206,207	210,537	178,616	140,601
? Cost Of Revenue	0	0	0	0	0	0	0	0	0	0
? Gross Profit	88,549	105,712	113,922	134,556	168,868	169,073	206,207	210,537	178,616	140,601
? Research And Development Expenses	0	0	0	0	0	0	0	0	0	0
? General And Administrative Expenses	42,485	45,625	51,134	58,370	67,852	65,380	73,733	80,851	82,086	76,706
? Selling And Marketing Expenses	1,208	2,020	2,626	2,960	3,051	2,788	2,161	2,059	2,122	1,396
? Operating Expenses	1,208	2,020	2,626	-50,418	-30,779	-111,821	-121,711	2,059	-126,237	140,601
? Net Interest Income	0	0	0	0	0	0	0	0	0	0
? Interest Income	106,039	126,888	139,093	171,431	237,333	233,208	234,360	226,272	293,724	328,868
? Interest Expense	25,431	31,903	36,519	50,138	82,020	83,854	49,851	29,669	117,859	186,274
? Depreciation And Amortization	3,135	3,155	2,981	3,588	5,457	5,812	6,842	6,656	6,296	5,256
? EBITDA	0	25,760	30,404	37,588	61,526	63,064	91,338	99,003	58,675	0
? EBIT
? Operating Income	29,791	54,508	63,942	84,138	138,089	57,252	84,496	122,016	52,379	0
? Income Before Tax	4,360	22,605	27,423	34,000	56,069	57,252	84,496	92,347	52,379	-80,776
? Income Tax Expense	-1,269	6,783	8,820	14,404	13,927	12,287	21,263	24,800	11,568	5,891
? Net Income From Continuing Operations
? Net Income	5,629	15,822	18,603	19,596	42,142	44,965	63,233	67,547	40,811	-86,667
? EPS (Earnings Per Share)	0.060	0.180	0.220	0.240	0.460	0.550	0.770	0.950	0.630	-1.390
? EPS Diluted	0.060	0.180	0.220	0.240	0.460	0.550	0.770	0.950	0.630	-1.390
? Weighted Average Shares Outstanding	91,717	89,591	84,590	82,587	91,054	82,409	82,387	70,911	64,804	62,444
? Weighted Average Shares Outstanding Diluted	91,841	89,625	84,661	82,643	91,100	82,430	82,391	70,933	64,804	62,444
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Balance Sheet

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Cash And Cash Equivalents	340,136	199,200	78,237	128,864	38,935	180,967	67,855	101,615	70,515	63,864
? Short Term Investments	420,660	389,910	613,760	725,085	714,263	1,385,703	1,676,864	1,344,093	1,227,729	1,072,833
? Cash And Short Term Investments	760,796	589,110	522,734	853,949	753,198	1,566,670	1,744,719	1,445,708	1,298,244	63,864
? Net Receivables	9,873	11,212	12,493	18,510	19,360	17,373	19,362	0	28,133	0
? Accounts Receivables
? Inventory	0	0	0	0	-58,295	-198,518	-87,395	-20,466	-111,604	0
? Total Current Assets	3,448,894	3,796,002	4,080,741	4,991,629	772,558	1,584,043	1,764,081	5,990,303	1,326,377	63,864
? Property Plant Equipment Net	39,180	38,385	39,585	56,240	56,854	57,389	56,338	53,281	48,309	59,440
? Goodwill	108,591	108,591	108,591	210,895	210,895	210,895	210,895	210,895	210,895	113,525
? Intangible Assets	0	0	292	6,295	5,160	3,995	3,705	3,020	2,457	1,931
? Long Term Investments	640,522	557,081	1,107,081	1,314,815	1,290,915	1,418,259	1,715,002	1,462,384	1,374,194	1,208,575
? Total Non Current Assets	788,293	704,057	737,386	1,588,245	1,563,824	1,690,538	1,985,940	1,729,580	1,635,855	7,606,349
? Total Assets	4,237,187	4,500,059	4,818,127	6,579,874	6,634,829	6,758,175	7,283,735	7,719,883	8,064,815	7,683,461
? Account Payables	0	0	0	0	0	0	0	0	0	0
? Short Term Debt	0	0	0	0	0	0	0	0	0	175,000
? Deferred Revenue	0	0	0	0	0	0	0	49,350	0	0
? Total Current Liabilities	80,000	1,434,984	30,532	28,502	8,771	5,736	2,909,800	49,350	5,959,988	0
? Long Term Debt	571,499	614,423	806,228	1,198,646	0	1,173,165	685,876	901,337	1,281,812	1,434,789
? Deferred Revenue Non Current	0	-51,503	-11,503	-15,341	1,305,299	1,155,510	677,460	-59,997	1,483,574	0
? Deferred Tax Liabilities Non Current	0	8,329	11,503	15,341	7,912	11,919	8,416	16,892	23,238	0
? Total Non Current Liabilities	571,499	614,423	806,228	1,198,646	1,313,211	1,167,429	685,876	901,337	1,506,812	6,929,890
? Total Liabilities	3,069,812	3,352,430	3,760,946	5,311,126	5,507,670	5,673,998	685,876	6,825,883	1,506,812	6,929,890
? Treasury Stock
? Preferred Stock	0	0	0	0	0	0	0	0	0	0
? Common Stock	935	918	844	996	891	837	790	687	659	644
? Retained Earnings	342,148	350,806	361,039	359,096	366,679	387,911	408,367	445,451	457,611	343,326
? Additional Paid In Capital
? Total Stockholders Equity	1,167,375	1,147,629	1,057,181	1,268,748	1,127,159	1,084,177	1,042,944	894,000	869,284	753,571
? Total Equity	1,167,375	1,147,629	1,057,181	1,268,748	1,127,159	1,084,177	1,042,944	894,000	869,284	753,571
? Minority Interest	0	0	0	0	0	0	0	0	0	0
? Total Liabilities And Total Equity	4,237,187	4,500,059	4,818,127	6,579,874	6,634,829	6,758,175	7,283,735	7,719,883	8,064,815	7,683,461
? Total Investments	1,061,182	946,991	1,033,707	2,039,900	2,005,178	2,803,962	3,391,866	2,806,477	2,601,923	2,281,408
? Total Debt	571,499	614,423	806,228	1,198,646	1,321,982	1,173,165	685,876	901,337	1,506,812	1,609,789
? Net Debt	231,363	415,223	727,991	1,069,782	1,283,047	992,198	618,021	799,722	1,436,297	1,545,925
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Cash Flow Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Net Income	5,629	15,822	18,603	19,596	42,142	44,965	63,233	67,547	40,811	-86,667
? Depreciation And Amortization	3,135	3,155	2,981	3,588	5,457	5,812	6,842	6,656	6,296	5,256
? Deferred Income Tax	-3,388	-1,578	-1,843	6,700	4,538	665	4,154	5,023	2,789	-867
? Stock Based Compensation	2,550	2,908	6,825	9,195	8,798	8,233	7,742	6,340	4,873	4,003
? Change In Working Capital	-2,777	-7,293	-6,729	-4,290	-3,689	-26,530	5,648	-6,802	-18,233	-12,310
? Accounts Receivables	-860	-1,339	-1,281	-1,875	-850	1,987	-288	-1,104	-7,667	0
? Inventory	609	-596	-709	2,389	-403	-17,405	12,841	0	-11,697	0
? Accounts Payables	39	205	468	558	3,903	-4,887	-638	853	9,776	0
? Net Cash Provided By Operating Activities	20,502	39,177	38,530	45,095	39,923	19,821	75,417	81,301	69,549	43,971
? Investments In Property Plant And Equipment	-2,052	-2,193	-4,035	-8,268	-6,137	-5,960	-5,458	-2,920	-1,355	-1,350
? Acquisitions Net	162	-489,617	-418,982	30,099	-166,064	191,242	4,296	612	-431,312	0
? Purchases Of Investments	-62,543	-12,233	-172,817	-311,767	-181,147	-489,374	-930,989	-315,551	-207,639	-74,300
? Sales Maturities Of Investments	46,665	85,555	151,632	427,107	209,667	383,526	622,190	436,604	241,981	247,950
? Net Cash Provided By Investing Activities	0	0	0	0	0	0	0	0	0	0
? Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Long Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Short Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Net Stock Issuance	0	0	0	0	0	0	0	0	0	0
? Net Dividends Paid	0	-7,164	-8,286	-20,561	-34,747	-24,121	-28,648	-30,693	-28,499	-27,564
? Common Dividends Paid
? Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
? Net Cash Provided By Financing Activities	709,992	241,519	294,055	6,979	19,015	37,241	-104,558	432,410	317,269	-308,744
? Effect Of Forex Changes On Cash	0	0	0	0	0	0	0	0	-317,269	0
? Net Change In Cash	205,102	-140,936	-120,963	50,627	-89,929	142,032	-113,112	33,760	-31,100	-6,651
? Cash At End Of Period	340,136	199,200	78,237	128,864	38,935	180,967	67,855	101,615	70,515	63,864
? Cash At Beginning Of Period	135,034	340,136	199,200	78,237	128,864	38,935	180,967	67,855	101,615	70,515
? Operating Cash Flow	20,502	39,177	38,530	45,095	39,923	19,821	75,417	81,301	69,549	43,971
? Capital Expenditure	-2,052	-2,193	-4,035	-8,268	-6,137	-5,960	-5,458	-2,920	-1,355	-1,350
? Free Cash Flow	18,450	36,984	34,495	36,827	33,786	13,861	69,959	78,381	68,194	42,621
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Analyst Estimates

(* All numbers are in thousands)

Fiscal Year	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027
Estimated Revenue (Low)	131,699.999	170,000	163,400	205,200	208,645	188,438	158,455	154,688	189,335	127,944.423
Estimated Revenue (High)	131,699.999	170,000	163,400	205,200	208,645	188,438	158,455	154,688	189,335	127,944.423
Estimated Revenue (Avg)	131,699.999	170,000	163,400	205,200	208,645	188,438	158,455	154,688	189,335	127,944.423
Estimated Ebitda (Low)	60,243.768	86,046.057	111,064.146	108,585.298	95,456.344	60,853.425	110,643.308	49,954.333	61,143.098	41,317.867
Estimated Ebitda (High)	90,365.654	129,069.085	166,596.219	162,877.948	143,184.517	60,853.425	165,964.965	49,954.333	61,143.098	41,317.867
Estimated Ebitda (Avg)	75,304.712	107,557.571	138,830.183	135,731.623	119,320.431	60,853.425	138,304.137	49,954.333	61,143.098	41,317.867
Estimated Net Income (Low)	12,555.425	25,334.551	30,897.466	39,221.885	49,542.160	38,403.060	14,671.999	28,099.800	42,408.218	49,330.760
Estimated Net Income (High)	18,833.139	38,001.828	46,346.198	58,832.828	74,313.241	38,403.060	22,008	28,099.800	57,502.182	49,330.760
Estimated Net Income (Avg)	15,694.282	31,668.190	38,621.832	49,027.357	61,927.701	38,403.060	18,340	28,099.800	50,248	49,330.760
Estimated SGA Expense (Low)	50,331.902	47,377.866	51,757.386	55,230.729	53,108.583	82,610.121	73,805.725	67,814.318	83,003.361	56,090.089
Estimated SGA Expense (High)	75,497.854	71,066.800	77,636.079	82,846.093	79,662.877	82,610.121	110,708.591	67,814.318	83,003.361	56,090.089
Estimated SGA Expense (Avg)	62,914.878	59,222.333	64,696.733	69,038.411	66,385.730	82,610.121	92,257.158	67,814.318	83,003.361	56,090.089
Estimated EPS (Avg)	0.140	0.490	0.410	0.750	1	0.610	0.290	0.450	0.800	0.790
Estimated EPS (High)	0.140	0.490	0.410	0.750	1	0.610	0.300	0.450	0.920	0.790
Estimated EPS (Low)	0.140	0.490	0.410	0.750	1	0.610	0.290	0.450	0.680	0.790
Number of Analysts (Estimated Revenue)	14	7	1	1	1	1	1	1	1	1
Number of Analysts (Estimated EPS)	13	8	1	1	1	1	2	1	1	1

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Current Key Metrics

?	Revenue (TTM) :	326.875M	?	P/S (TTM) :	1.12
?	Net Income (TTM) :	-86667000	?	P/E (TTM) :	-5.31
?	Enterprise Value (TTM) :	1.476B	?	EV/FCF (TTM) :	72.65
?	Dividend Yield (TTM) :	0.07	?	Payout Ratio (TTM) :	-0.39
?	ROE (TTM) :	-0.09	?	ROIC (TTM) :	-0.03
?	Net Debt (TTM) :	1.241B	?	Debt/Equity (TTM) :	1.62
?	P/B (TTM) :	0.5	?	Current Ratio (TTM) :	0.2