WashingtonFirst Bankshares Net income (Q2, 2017)5.3 M

WashingtonFirst Bankshares EBIT (Q2, 2017)16.7 M

WashingtonFirst Bankshares Cash, 30-Jun-201730.1 M

WashingtonFirst Bankshares EV489.8 M

WashingtonFirst Bankshares revenue breakdown by business segment: 23.8% from Mortgage Bank, 74.4% from Commercial Bank and 1.8% from Other

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Revenue | 46.1 m | 55.1 m | 73.1 m | 101.4 m |

| 20% | 33% | 39% | |

## Cost of goods sold | 6.1 m | 12.5 m | ||

## Gross profit | 40 m | 88.9 m | ||

| 87% | 88% | ||

## R&D expense | 4.2 m | |||

## Operating expense total | 4.2 m | |||

## EBIT | 35.2 m | 57.5 m | ||

| 76% | 57% | ||

## Income tax expense | 2.6 m | 10.1 m | ||

## Net Income | 6.3 m | 9.4 m | 12.3 m | 18 m |

- Source: SEC Filings

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 12.8 m | |||||||||||

## Cost of goods sold | 1.5 m | 1.6 m | 1.8 m | 1.9 m | 2 m | 2.1 m | 2.3 m | 3 m | 3.2 m | 3.1 m | 3.6 m | 4 m |

## Gross profit | 11.4 m | |||||||||||

| 88% | |||||||||||

## R&D expense | 775 k | 715 k | 685 k | 774 k | 338 k | 325 k | 879 k | 1 m | 1.1 m | 1.1 m | 1 m | 1.2 m |

## Operating expense total | 775 k | 8 m | 8 m | 8.5 m | 7.8 m | 8.6 m | 11.2 m | 12.5 m | 15.5 m | 15.6 m | 13.7 m | 15.1 m |

## EBIT | 8 m | 9.7 m | 11.4 m | 11.6 m | 11.6 m | 12.3 m | 13.2 m | 13.9 m | 14 m | 14.8 m | 15.7 m | 16.7 m |

| 62% | |||||||||||

## Income tax expense | 579 k | 838 k | 1.3 m | 833 k | 1.5 m | 1.6 m | 1.8 m | 2.3 m | 2.6 m | 2.9 m | 2.4 m | 2.8 m |

## Net Income | 2.1 m | 1.6 m | 2.4 m | 2.8 m | 2.8 m | 2.8 m | 3.2 m | 3.9 m | 4.4 m | 4.9 m | 4.4 m | 5.3 m |

- Source: SEC Filings

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Cash | 109.2 m | 62.3 m | 62.8 m | 97.4 m |

## Accounts Receivable | 3.5 m | 3.9 m | 4.5 m | 5.2 m |

## PP&E | 5.4 m | 6.2 m | 7.4 m | 7 m |

## Goodwill | 11.4 m | 11.4 m | ||

## Total Assets | 1.1 b | 1.3 b | 1.7 b | 2 b |

## Accounts Payable | 524 k | 548 k | 912 k | 1.5 b |

## Long-term debt | 43.5 m | 86 m | 110.1 m | 232.1 m |

## Total Debt | 232.1 m | |||

## Total Liabilities | 1.8 b | |||

## Common Stock | 66 k | 77 k | 103 k | 109 k |

## Additional Paid-in Capital | 177.9 m | |||

## Total Equity | 134.5 m | 178.6 m | 192.7 m | |

## Debt to Equity Ratio | 1.2 x | |||

## Debt to Assets Ratio | 0.1 x | |||

## Financial Leverage | 9.9 x | 9.4 x | 10.4 x |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 154.3 m | 170.2 m | 221.6 m | 100.8 m | 132 m | 109.4 m | 64.1 m | 69.1 m | 99.4 m | 131.3 m | 77.3 m | 30.1 m |

## PP&E | 3.8 m | 5.8 m | 5.9 m | 6 m | 6.1 m | 6 m | 7 m | 7.8 m | 7.5 m | 7.3 m | 6.8 m | 6.4 m |

## Goodwill | 11.5 m | 11.4 m | 11.4 m | 11.4 m | 11.4 m | 11.4 m | ||||||

## Total Assets | 1.1 b | 1.3 b | 1.4 b | 1.3 b | 1.4 b | 1.5 b | 1.6 b | 1.8 b | 1.9 b | 1.9 b | 2.1 b | 2.1 b |

## Accounts Payable | 958.4 m | 1.1 b | 1.2 b | 1.1 b | 1.2 b | 1.2 b | 1.3 b | 1.4 b | 1.5 b | 1.5 b | 1.7 b | 1.7 b |

## Long-term debt | 30.1 m | 43.4 m | 53.2 m | 66.4 m | 93.2 m | 107.8 m | 100 m | 112.2 m | 61.6 m | 121.3 m | 128.4 m | 73.1 m |

## Total Debt | 30.1 m | 43.4 m | 53.2 m | 66.4 m | 93.2 m | 107.8 m | 100 m | 112.2 m | 61.6 m | 121.3 m | 128.4 m | 73.1 m |

## Total Liabilities | 1 b | 1.2 b | 1.3 b | 1.2 b | 1.3 b | 1.4 b | 1.4 b | 1.6 b | 1.7 b | 1.7 b | 1.9 b | 1.9 b |

## Common Stock | 66 k | 66 k | 67 k | 70 k | 77 k | 77 k | 86 k | 103 k | 104 k | 104 k | 121 k | 123 k |

## Additional Paid-in Capital | 161.3 m | 161.7 m | 161.9 m | 178.6 m | 179.9 m | |||||||

## Total Equity | 111.1 m | 133.4 m | 135.2 m | 154.6 m | 184.1 m | 188.3 m | 192 m | 197.2 m | 203.6 m | |||

## Financial Leverage | 12 x | 10.8 x | 11.3 x | 10.3 x | 9.6 x | 9.8 x | 10 x | 10.4 x | 10.2 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
---|---|---|---|---|

## Net Income | 6.3 m | 9.4 m | 12.3 m | 18 m |

## Depreciation and Amortization | 1.4 m | 1.6 m | 1.5 m | 2.1 m |

## Accounts Receivable | (42 k) | (386 k) | (650 k) | (741 k) |

## Accounts Payable | (1.5 m) | 24 k | 364 k | 35 k |

## Cash From Operating Activities | 14.2 m | 13.1 m | 11.3 m | 22.7 m |

## Cash From Investing Activities | (106.7 m) | 15.8 m | (292.6 m) | (298.9 m) |

## Dividends Paid | (178 k) | (74 k) | ||

## Cash From Financing Activities | (22.5 m) | 60.1 m | 281.7 m | 310.8 m |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 |
---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 5.1 m | 1.6 m | 4 m | 6.9 m | 2.8 m | 5.6 m | 8.7 m | 3.9 m | 8.3 m | 13.3 m | 4.4 m | 9.8 m |

## Depreciation and Amortization | 129 k | 465 k | 1.1 m | 1.4 m | 120 k | 174 k | 188 k | 459 k | 1 m | 1.5 m | 455 k | 934 k |

## Accounts Receivable | 217 k | 191 k | (209 k) | (185 k) | 96 k | (46 k) | (431 k) | (122 k) | (44 k) | 96 k | (268 k) | (535 k) |

## Accounts Payable | (1.5 m) | 75 k | (6 k) | 47 k | 85 k | 158 k | 492 k | 57 k | 478 k | 505 k | 443 k | |

## Cash From Operating Activities | 9.9 m | 1.3 m | 2.1 m | 7.8 m | 1.7 m | 6.9 m | 15.1 m | 2.4 m | (12.9 m) | (15.5 m) | 6.2 m | (5.6 m) |

## Cash From Investing Activities | (55.4 m) | 44.6 m | (14.3 m) | (82.8 m) | (31.3 m) | 162.8 m | (218.3 m) | (75.1 m) | (121.2 m) | (142.7 m) | (81.8 m) | (134.3 m) |

## Dividends Paid | (133 k) | (44 k) | (89 k) | (128 k) | (73 k) | (860 k) | (1.8 m) | |||||

## Cash From Financing Activities | (24.4 m) | 15.1 m | 124.6 m | 66.6 m | 99.2 m | 183.1 m | 205 m | 79.1 m | 170.8 m | 226.7 m | 55.5 m | 72.5 m |

USD | Y, 2017 |
---|---|

## EV/EBIT | 29.4 x |

## EV/CFO | -87.8 x |

## Financial Leverage | 10.2 x |

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WashingtonFirst Bankshares's Total Loans was reported to be $1.6b in Q2, 2017.

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