First Republic Bank (FRC-PJ) Margin Analysis

First Republic Bank

FRC-PJ (NYSE)

(%)

Models
First Republic Bank Margin Analysis

# --- Years and Quarters
assumptions.set({
    "timeseries": "annual",
    "data": {
        "#years": """
            4
        """,
        "#quarters": """
            8
        """,
    },
    "titles": {
        "#years": "Years",
        "#quarters": "Quarters",
    },
    "properties": {
        "width": "responsive",
        "title": "Years and Quarters",
        "id": "component-1",
        "bindTo": None
    },
    "descriptions": {
        "#years": r"""
The number of historical years used to render the annual chart and tables.
        """,
        "#quarters": r"""
The number of historical quarters used to render the quarterly chart and tables.
        """,
    }
})

# Render description block
model.render_description({
    "data": r"""
## Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.
""",
    "properties": {
        "width": "responsive"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Annual Section

The annual section uses annual data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

# --- Income Statement Margins
data.compute({
    "user:%revenueGrowthRate": """
        ( income:revenue / income:revenue:-1 ) - 1
    """,
    "user:%grossMargin": """
        income:grossProfit / income:revenue
    """,
    "user:%operatingMargin": """
        income:operatingIncome / income:revenue
    """,
    "user:%netMargin": """
        income:netIncome / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

# --- Cash Flow Statement Margins
data.compute({
    "user:%cashFromOperatingActivitiesMargin": """
        flow:netCashProvidedByOperatingActivities / income:revenue
    """,
    "user:%freeCashFlowMargin": """
        flow:freeCashFlow / income:revenue
    """,
    "user:%depreciationAndAmortizationMargin": """
        flow:depreciationAndAmortization / income:revenue
    """,
    "user:%capitalExpenditureMargin": """
        flow:capitalExpenditure / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "annual",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Annual Chart",
        "include_ltm": False,
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "quarterly",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Quarterly Chart",
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

Years and Quarters

Years Years The number of historical years used to render the annual chart and tables.	#
Quarters Quarters The number of historical quarters used to render the quarterly chart and tables.	#

Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.

Annual Section

The annual section uses annual data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	LTM Mar 19	2022 Dec 31	2021 Dec 31	2020 Dec 31	2019 Dec 31
Revenue	6,582	5,773	4,960	3,853	3,254
Revenue Growth Rate	14.01%	16.39%	28.72%	18.42%	-9.15%
Cost of Revenue	0	0	0	0	0
Gross Profit	6,582	5,773	4,960	3,853	3,254
Gross Margin	100%	100%	100%	100%	100%
Operating Income	2,465	3,029	1,828	1,334	1,133
Operating Margin	37.45%	52.47%	36.85%	34.62%	34.83%
Net Income	1,533	1,665	1,478	1,064	930.3
Net Margin	23.29%	28.84%	29.8%	27.62%	28.59%

Cash Flow Statement Margins

Monetary values in USD amounts except #	LTM Mar 19	2022 Dec 31	2021 Dec 31	2020 Dec 31	2019 Dec 31
Revenue	6,582	5,773	4,960	3,853	3,254
Cash from Operating Activities	292	252	1,204	531.3	938.5
Cash from Operating Activities Margin	4.44%	4.37%	24.27%	13.79%	28.84%
Free Cash Flow	150	55	1,006	382.6	770.6
Free Cash Flow Margin	2.28%	0.953%	20.28%	9.93%	23.68%
Depreciation and Amortization	166	192	184	166.1	137.6
Depreciation and Amortization Margin	2.52%	3.33%	3.71%	4.31%	4.23%
Capital Expenditure	-142	-197	-198	-148.7	-167.9
Capital Expenditure Margin	-2.16%	-3.41%	-3.99%	-3.86%	-5.16%

Annual Chart

Monetary values in USD

{"sectionId": "section-chart-1", "sectionType": "chart", "title": "Annual Chart", "timeseries": "annual", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2019", "x": "2019-12-31", "y": 100}, {"l": "2020", "x": "2020-12-31", "y": 100}, {"l": "2021", "x": "2021-12-31", "y": 100}, {"l": "2022", "x": "2022-12-31", "y": 100}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2019", "x": "2019-12-31", "y": 34.83}, {"l": "2020", "x": "2020-12-31", "y": 34.62}, {"l": "2021", "x": "2021-12-31", "y": 36.85}, {"l": "2022", "x": "2022-12-31", "y": 52.47}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2019", "x": "2019-12-31", "y": 28.59}, {"l": "2020", "x": "2020-12-31", "y": 27.62}, {"l": "2021", "x": "2021-12-31", "y": 29.8}, {"l": "2022", "x": "2022-12-31", "y": 28.84}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2019", "x": "2019-12-31", "y": 23.68}, {"l": "2020", "x": "2020-12-31", "y": 9.93}, {"l": "2021", "x": "2021-12-31", "y": 20.28}, {"l": "2022", "x": "2022-12-31", "y": 0.953}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}

Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	2023 (Q1) Mar 31	2022 (Q4) Dec 31	2022 (Q3) Sep 30	2022 (Q2) Jun 30	2022 (Q1) Mar 31	2021 (Q4) Dec 31
Revenue	2,183	1,415	1,500	1,484	1,374	1,414
Revenue Growth Rate	54.28%	-5.67%	1.08%	8.01%	-2.83%
Cost of Revenue	0	0	0	0	0	68.87
Gross Profit	2,183	1,415	1,500	1,484	1,374	1,345
Gross Margin	100%	100%	100%	100%	100%	95.13%
Operating Income	0	1,013	817	635	564	525.8
Operating Margin	0%	71.59%	54.47%	42.79%	41.05%	37.18%
Net Income	269	386	445	433	401	400
Net Margin	12.32%	27.28%	29.67%	29.18%	29.18%	28.29%

Cash Flow Statement Margins

Monetary values in USD amounts except #	2023 (Q1) Mar 31	2022 (Q4) Dec 31	2022 (Q3) Sep 30	2022 (Q2) Jun 30	2022 (Q1) Mar 31	2021 (Q4) Dec 31
Revenue	2,183	1,415	1,500	1,484	1,374	1,414
Cash from Operating Activities	50	24	112	106	10	1,162
Cash from Operating Activities Margin	2.29%	1.7%	7.47%	7.14%	0.728%	82.19%
Free Cash Flow	50	-21	64	57	-45	1,097
Free Cash Flow Margin	2.29%	-1.48%	4.27%	3.84%	-3.28%	77.56%
Depreciation and Amortization	25	44	48	49	51	43.88
Depreciation and Amortization Margin	1.15%	3.11%	3.2%	3.3%	3.71%	3.1%
Capital Expenditure	0	-45	-48	-49	-55	-65.43
Capital Expenditure Margin	0%	-3.18%	-3.2%	-3.3%	-4%	-4.63%

Quarterly Chart

Monetary values in USD

{"sectionId": "section-chart-2", "sectionType": "chart", "title": "Quarterly Chart", "timeseries": "quarterly", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2021 (Q4)", "x": "2021-12-31", "y": 95.13}, {"l": "2022 (Q1)", "x": "2022-03-31", "y": 100}, {"l": "2022 (Q2)", "x": "2022-06-30", "y": 100}, {"l": "2022 (Q3)", "x": "2022-09-30", "y": 100}, {"l": "2022 (Q4)", "x": "2022-12-31", "y": 100}, {"l": "2023 (Q1)", "x": "2023-03-31", "y": 100}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2021 (Q4)", "x": "2021-12-31", "y": 37.18}, {"l": "2022 (Q1)", "x": "2022-03-31", "y": 41.05}, {"l": "2022 (Q2)", "x": "2022-06-30", "y": 42.79}, {"l": "2022 (Q3)", "x": "2022-09-30", "y": 54.47}, {"l": "2022 (Q4)", "x": "2022-12-31", "y": 71.59}, {"l": "2023 (Q1)", "x": "2023-03-31", "y": 0}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2021 (Q4)", "x": "2021-12-31", "y": 28.29}, {"l": "2022 (Q1)", "x": "2022-03-31", "y": 29.18}, {"l": "2022 (Q2)", "x": "2022-06-30", "y": 29.18}, {"l": "2022 (Q3)", "x": "2022-09-30", "y": 29.67}, {"l": "2022 (Q4)", "x": "2022-12-31", "y": 27.28}, {"l": "2023 (Q1)", "x": "2023-03-31", "y": 12.32}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2021 (Q4)", "x": "2021-12-31", "y": 77.56}, {"l": "2022 (Q1)", "x": "2022-03-31", "y": -3.28}, {"l": "2022 (Q2)", "x": "2022-06-30", "y": 3.84}, {"l": "2022 (Q3)", "x": "2022-09-30", "y": 4.27}, {"l": "2022 (Q4)", "x": "2022-12-31", "y": -1.48}, {"l": "2023 (Q1)", "x": "2023-03-31", "y": 2.29}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}