BANR FY 2021 Earnings Report — Banner Corporation Revenue & Financial Results | Market Cap Arena

Banner CorporationBANR

FY 2021 Earnings

Reported February 23, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$631M	—	$637M	—	-0.9%
Op. Income	$247M	—	$142M	—	73.1%
Gross Margin	101.6%	—	83.4%	—	18.2pp
Net Margin	31.9%	—	18.2%	—	13.7pp
EPS (Diluted)	$5.76	—	$3.26	—	76.7%
Free Cash Flow	$291M	—	$113M	—	158.6%

Revenue Flow

Item	Amount
REVENUE	$631M
Cost of Revenue	-$10M
GROSS PROFIT	$641M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$250M
SG&A Expenses	$256M
Other Expenses	$138M
Operating Expenses	$394M
Cost & Expenses	$384M
OPERATING INCOME	$247M
Interest Income	$521M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$247M
Income Tax Expense	$46M
Net Income from Continuing Ops	$201M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$201M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$201M
D&A	$24M
EBIT	$247M
EBITDA	$271M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$631M
Cost of Revenue	-$10M
GROSS PROFIT	$641M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$250M
SG&A Expenses	$256M
Other Expenses	$138M
Operating Expenses	$394M
Cost & Expenses	$384M
OPERATING INCOME	$247M
Interest Income	$521M
Interest Expense	$24M
Other Income/Expenses	$0
INCOME BEFORE TAX	$247M
Income Tax Expense	$46M
Net Income from Continuing Ops	$201M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$201M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$201M
D&A	$24M
EBIT	$247M
EBITDA	$271M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$201M
Depreciation & Amortization	$24M
Stock-Based Compensation	$9M
Deferred Income Tax	$13M
Other Non-Cash Items	$64M
Change in Working Capital	-$9M
OPERATING CASH FLOW	$302M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$2.9B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	$505M
NET CASH FROM INVESTING	-$1.0B
Net Debt Issuance	-$28M
Common Stock Repurchased	-$57M
Common Dividends Paid	-$58M
Other Financing Activities	$1.8B
NET CASH FROM FINANCING	$1.6B
FREE CASH FLOW	$291M
Net Change in Cash	$900M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.1B
Short-Term Investments	$3.6B
Net Receivables	$43M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.8B
PP&E (Net)	$204M
Goodwill	$373M
Intangible Assets	$15M
Long-Term Investments	$9.6B
Tax Assets	$71M
Other Non-Current Assets	$755M
TOTAL NON-CURRENT ASSETS	$11.0B
TOTAL ASSETS	$16.8B
Account Payables	$0
Short-Term Debt	$264M
Deferred Revenue	$0
Other Current Liabilities	$14.3B
TOTAL CURRENT LIABILITIES	$14.7B
Long-Term Debt	$268M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$47M
TOTAL NON-CURRENT LIABILITIES	$375M
TOTAL LIABILITIES	$15.1B
Common Stock	$1.3B
Additional Paid-In Capital	$0
Retained Earnings	$391M
Treasury Stock	$0
Accum. Other Comp. Income	$184.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$16.8B
Total Debt	$593M
Net Debt	-$1.5B