lets ditch this" Grandma " thing-- it seems slang for slow moving /no excitement-- just like Grandma-- Remember I am putting together names for a 19 year old young man and the idea is for HUGE returns not safe & slow--- SOFI is misunderstood by the masses and many analysts-- Yes we have alot of debt! In 90 days since the end of Q4 2022, SoFi's debt has increased by over $600 million, or an increase of about 10% of its market cap in the form of debt. Over that over the same short period, SoFi's cash balance is up more than $1 billion.<--------------- A few key achievements from the first quarter include: our eighth consecutive quarter of record adjusted net revenue of $460 million, up 43% year-over-year with record revenue in lending and financial services, as well as continued strength in tech platform; our third consecutive quarter of record adjusted EBITDA at nearly $76 million, representing a 48% incremental margin and a 16% margin overall; and incremental GAAP net income margin of 54%, resulting in a loss of just $34 million. Deposits increased by $2.7 billion sequentially, marking another record quarter and now exceed $10 billion in total deposits. Importantly, more than 90% of our consumer deposits are from sticky direct deposit members and 97% of our deposits are insured. Our cash and cash equivalents on the balance sheet increased by $1.1 billion to $2.5 billion since year-end, reinforcing our strong liquidity position. Switching to our balance sheet where we remain very well capitalized with ample cash and excess liquidity. Last year's opening of SoFi Bank further reinforces our strong balance sheet and provides us with more flexibility and access to a lower cost of capital relative to alternative sources of funding. In Q1, assets grew by $3.4 billion as a result of a $1.1 billion increase in cash and cash equivalents, highlighting our strong liquidity position and access to cash, as well as adding loans to the balance sheet, given strong growth we continue to see in personal loan originations. On the liability side of the balance sheet, we saw tremendous growth in deposits as they grew to over $10 billion, up $2.7 billion sequentially versus $2.3 billion in each of the prior two quarters. Because of this, we exited the quarter with just $3.6 billion drawn on our $8.6 billion of warehouse facilities. In addition, last week we extended our corporate revolver for another five years and upsides it to $645 million. This further highlights our strong liquidity position, particularly in this market. Our available for sale securities portfolio remains quite modest at $175 million market value with $6 million in cumulative unrealized losses versus $195 million at year end 2022. This portfolio consists primarily of short duration government backed securities.
Know why? This: Additionally, 116.6% of its total cash flow came from the selling of Property, Plant, or Equipment. During Fiscal Year 2022, CPG spent $858.7M on capital expenditures. As a percent of sales, this was among the highest in the Oil & Gas Exploration & Production Sub-industry group but represented a steady decrease in spending over the last four years. Their revenue is the same as it was in 2015.
SOFI's timing is good heading into their next report-- SOFI Q1 2023 Given that Q1 2023 was negative $34 million, it isn't just a huge jump needed to reach company-wide positive GAAP net income. Going from a loss of $110 mil to $34 mil is rather hearty progress!
Dumb. That's not the way to create wealth. If you want that, play options near term. SOFI looks like it might go to zero.
With CPG-- The Kaybob Duvernay has a lot of natural gas production, therefore the recent rally of natural gas prices has made that particular set of leases more profitable than has been the case in some time. As exporting capabilities increase in North America, those leases could see still more profitability improvement. The finances here are better than they have been in years, and they are going to improve more. That should lead to a higher base dividend all by itself. This management appears to be taking a more United States view of dividends in that it intends to have a dividend that gets paid throughout the business cycle combined with an occasional bonus announcement. The NYSE listing should also raise visibility.
EPS SINCE 2015. Which one is on the right track? LOL-- Stock trading is about the future you know that!!! One is growing massively and one is stagnant.- One has made a great purchase and will grow reserves over 20% and one hasn't. and has declining reserves of 17% One has a higher dividend and the potential to DOUBLE IN 1 Year One doesn't....