BANR FY 2020 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2020 Earnings

Reported February 23, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$637M	—	$620M	—	2.7%
Op. Income	$142M	—	$183M	—	-22.2%
Gross Margin	83.4%	—	89.2%	—	-5.8pp
Net Margin	18.2%	—	23.6%	—	-5.4pp
EPS (Diluted)	$3.26	—	$4.18	—	-22.0%
Free Cash Flow	$113M	—	$125M	—	-9.9%

Revenue Flow

Item	Amount
REVENUE	$637M
Cost of Revenue	$106M
GROSS PROFIT	$531M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$252M
SG&A Expenses	$258M
Other Expenses	$130M
Operating Expenses	$388M
Cost & Expenses	$494M
OPERATING INCOME	$142M
Interest Income	$519M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$142M
Income Tax Expense	$27M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$116M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$26M
EBIT	$142M
EBITDA	$168M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$637M
Cost of Revenue	$106M
GROSS PROFIT	$531M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$252M
SG&A Expenses	$258M
Other Expenses	$130M
Operating Expenses	$388M
Cost & Expenses	$494M
OPERATING INCOME	$142M
Interest Income	$519M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$142M
Income Tax Expense	$27M
Net Income from Continuing Ops	$116M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$116M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$116M
D&A	$26M
EBIT	$142M
EBITDA	$168M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$116M
Depreciation & Amortization	$26M
Stock-Based Compensation	$9M
Deferred Income Tax	-$16M
Other Non-Cash Items	$14M
Change in Working Capital	-$23M
OPERATING CASH FLOW	$125M
Capital Expenditure	-$13M
Acquisitions (Net)	$0
Purchases of Investments	-$2.6B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$518M
NET CASH FROM INVESTING	-$1.5B
Net Debt Issuance	-$136M
Common Stock Repurchased	-$32M
Common Dividends Paid	-$94M
Other Financing Activities	$2.5B
NET CASH FROM FINANCING	$2.3B
FREE CASH FLOW	$113M
Net Change in Cash	$926M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$2.3B
Net Receivables	$47M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$220M
Goodwill	$373M
Intangible Assets	$21M
Long-Term Investments	$10.4B
Tax Assets	$66M
Other Non-Current Assets	$379M
TOTAL NON-CURRENT ASSETS	$11.4B
TOTAL ASSETS	$15.0B
Account Payables	$0
Short-Term Debt	$185M
Deferred Revenue	$0
Other Current Liabilities	$12.6B
TOTAL CURRENT LIABILITIES	$12.9B
Long-Term Debt	$365M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$45M
TOTAL NON-CURRENT LIABILITIES	$470M
TOTAL LIABILITIES	$13.4B
Common Stock	$1.3B
Additional Paid-In Capital	$0
Retained Earnings	$247M
Treasury Stock	$0
Accum. Other Comp. Income	$69M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$15.0B
Total Debt	$609M
Net Debt	-$625M