BMO FY 2020 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

FY 2020 Earnings

Reported December 1, 2020

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	$25.1B	—	$28.2B	—	-11.0%
Op. Income	$4.6B	—	$5.3B	—	-12.7%
Gross Margin	64.2%	—	63.4%	—	0.8pp
Net Margin	14.8%	—	14.9%	—	-0.1pp
EPS (Diluted)	$5.52	—	$6.33	—	-12.8%
Free Cash Flow	$36.4B	—	$20.6B	—	76.8%

Revenue Flow

Item	Amount
REVENUE	$25.1B
Cost of Revenue	$9.0B
GROSS PROFIT	$16.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$7.1B
SG&A Expenses	$7.1B
Other Expenses	$4.4B
Operating Expenses	$11.5B
Cost & Expenses	$20.5B
OPERATING INCOME	$4.6B
Interest Income	$17.0B
Interest Expense	$6.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.6B
Income Tax Expense	$914M
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.5B
D&A	$1.2B
EBIT	$4.6B
EBITDA	$5.8B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$25.1B
Cost of Revenue	$9.0B
GROSS PROFIT	$16.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$7.1B
SG&A Expenses	$7.1B
Other Expenses	$4.4B
Operating Expenses	$11.5B
Cost & Expenses	$20.5B
OPERATING INCOME	$4.6B
Interest Income	$17.0B
Interest Expense	$6.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.6B
Income Tax Expense	$914M
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.5B
D&A	$1.2B
EBIT	$4.6B
EBITDA	$5.8B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$3.7B
Depreciation & Amortization	$1.2B
Stock-Based Compensation	$0
Deferred Income Tax	$81M
Other Non-Cash Items	$2.1B
Change in Working Capital	$30.1B
OPERATING CASH FLOW	$37.1B
Capital Expenditure	-$754M
Acquisitions (Net)	-$136M
Purchases of Investments	-$63.3B
Sales/Maturities of Investments	$41.6B
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$23.4B
Net Debt Issuance	-$648M
Common Stock Repurchased	-$56M
Common Dividends Paid	-$1.8B
Other Financing Activities	-$5.9B
NET CASH FROM FINANCING	-$7.5B
FREE CASH FLOW	$36.4B
Net Change in Cash	$6.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$48.6B
Short-Term Investments	$53.6B
Net Receivables	$4.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$106.5B
PP&E (Net)	$3.6B
Goodwill	$4.8B
Intangible Assets	$1.8B
Long-Term Investments	$400.0B
Tax Assets	$1.1B
Other Non-Current Assets	$176.0B
TOTAL NON-CURRENT ASSETS	$587.2B
TOTAL ASSETS	$693.7B
Account Payables	$9.2B
Short-Term Debt	$112.3B
Deferred Revenue	$0
Other Current Liabilities	$394.0B
TOTAL CURRENT LIABILITIES	$515.4B
Long-Term Debt	$87.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$79M
Other Non-Current Liabilities	$47.7B
TOTAL NON-CURRENT LIABILITIES	$136.9B
TOTAL LIABILITIES	$652.3B
Common Stock	$9.9B
Additional Paid-In Capital	$221M
Retained Earnings	$22.5B
Treasury Stock	-$38M
Accum. Other Comp. Income	$4.0B
Other Equity	$1.4B
TOTAL STOCKHOLDERS' EQUITY	$41.4B
Minority Interest	$0
TOTAL EQUITY	$41.4B
TOTAL LIABILITIES & EQUITY	$693.7B
Total Debt	$201.5B
Net Debt	$152.9B