JACK HENRY & ASSOCIATES Reports Record Fourth Quarter Financial Results for FY2023
August 23, 2023
🌥️Earnings Overview
For the fourth quarter of fiscal 2023, JACK HENRY & ASSOCIATES ($NASDAQ:JKHY) reported total revenue of USD 534.6 million, a 10.8% increase from the previous year’s quarter. Net income rose 21.6% year over year to USD 97.8 million, ending the quarter on June 30, 2023.
Share Price
On Tuesday, JACK HENRY & ASSOCIATES reported record fourth quarter financial results for FY2023. The company’s stock opened at $171.2 and closed at $168.3, down 2.1% from its last closing price of 172.0. This marks the lowest close since the beginning of the fourth quarter. JACK HENRY & ASSOCIATES continues to experience strong growth in its core businesses, such as payments and banking technology solutions, and is supported by strong customer demand for its innovative products and services. This has allowed the company to remain financially stable and to generate strong revenue growth over the past year.
The company’s financial results are further bolstered by its increasing focus on cost efficiencies, as well as its expansion into new markets. The company’s efforts are paying off and investors are taking note; JACK HENRY & ASSOCIATES stock is now up nearly 10% since the start of Q4 in FY2023. The company’s focus on innovation, cost management, and diversification will continue to be a driving force behind its success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for JKHY. More…
| Total Revenues | Net Income | Net Margin |
| 2.08k | 366.65 | 17.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for JKHY. More…
| Operations | Investing | Financing |
| 410.26 | -196.34 | -310.49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for JKHY. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.77k | 1.17k | 21.11 |
Key Ratios Snapshot
Some of the financial key ratios for JKHY are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.0% | 8.1% | 23.6% |
| FCF Margin | ROE | ROA |
| 10.2% | 19.9% | 11.0% |
Analysis
GoodWhale is pleased to analyze JACK HENRY & ASSOCIATES’s financials. According to our Star Chart, JACK HENRY & ASSOCIATES has a very high health score of 9/10 for its cashflows and debt, indicating that it is well-positioned to sustain operations through times of crisis. JACK HENRY & ASSOCIATES is strongest in dividend and profitability metrics, is medium in terms of growth, and is weaker in terms of asset metrics. Based on these criteria, we classify JACK HENRY & ASSOCIATES as a ‘rhino’ type company – one which has achieved moderate revenue or earnings growth. Investors who are interested in a steady dividend yield and moderate growth may find JACK HENRY & ASSOCIATES to be a good fit for their portfolio. More…
Peers
The company has three main competitors: Fiserv Inc, Usio Inc, and Excel Corp. All three companies provide similar services to financial institutions and merchants, but each has its own unique strengths and weaknesses.
– Fiserv Inc ($NASDAQ:FISV)
Fiserv Inc is a financial services technology company with a market cap of $62.61 billion as of 2022. The company has a return on equity of 6.21%. Fiserv provides technology solutions to financial institutions and businesses worldwide. The company operates in three segments: Payments, Financial Institution Services, and Business Process Services. Fiserv was founded in 1984 and is headquartered in Brookfield, Wisconsin.
– Usio Inc ($NASDAQ:USIO)
Usio Inc is a provider of payment processing and financial services. The company has a market cap of 61.54M as of 2022 and a Return on Equity of -21.61%. Usio Inc offers a variety of services including credit and debit card processing, ACH processing, check processing, and more. The company also offers merchant services, such as point-of-sale equipment and software, and merchant cash advance.
– Excel Corp ($OTCPK:EXCC)
Excel Corp is a publicly traded company that specializes in providing software and services related to the Microsoft Office suite of products. The company has a market capitalization of 348.37 million as of 2022 and a return on equity of -31.97%. Despite its negative equity return, the company has been profitable in each of the last four fiscal years. The company’s products and services are used by millions of people around the world and it has a strong brand recognition.
Summary
JACK HENRY & ASSOCIATES has reported strong financial results for the fourth quarter of 2023, indicating a positive outlook for the company. Total revenue was USD 534.6 million, a 10.8% increase year-over-year, while net income rose 21.6% to USD 97.8 million. This marks an increase in profitability, suggesting that there are strong growth opportunities for investors. With a robust financial performance, JACK HENRY & ASSOCIATES is likely to be an attractive investment option in the near future.
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