BMO FY 2021 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

FY 2021 Earnings

Reported December 3, 2021

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	$23.7B	—	$25.1B	—	-5.5%
Op. Income	$7.5B	—	$4.6B	—	61.6%
Gross Margin	82.8%	—	64.2%	—	18.6pp
Net Margin	23.9%	—	14.8%	—	9.0pp
EPS (Diluted)	$8.46	—	$5.52	—	53.4%
Free Cash Flow	$31.5B	—	$36.4B	—	-13.5%

Revenue Flow

Item	Amount
REVENUE	$23.7B
Cost of Revenue	$4.1B
GROSS PROFIT	$19.6B
R&D Expenses	$0
Selling & Marketing	$290M
General & Administrative	$7.1B
SG&A Expenses	$7.4B
Other Expenses	$4.8B
Operating Expenses	$12.2B
Cost & Expenses	$16.2B
OPERATING INCOME	$7.5B
Interest Income	$14.5B
Interest Expense	$4.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$7.5B
Income Tax Expense	$1.8B
Net Income from Continuing Ops	$5.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.5B
D&A	$1.1B
EBIT	$7.5B
EBITDA	$8.6B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$23.7B
Cost of Revenue	$4.1B
GROSS PROFIT	$19.6B
R&D Expenses	$0
Selling & Marketing	$290M
General & Administrative	$7.1B
SG&A Expenses	$7.4B
Other Expenses	$4.8B
Operating Expenses	$12.2B
Cost & Expenses	$16.2B
OPERATING INCOME	$7.5B
Interest Income	$14.5B
Interest Expense	$4.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$7.5B
Income Tax Expense	$1.8B
Net Income from Continuing Ops	$5.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$5.5B
D&A	$1.1B
EBIT	$7.5B
EBITDA	$8.6B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$5.7B
Depreciation & Amortization	$1.1B
Stock-Based Compensation	$0
Deferred Income Tax	$134M
Other Non-Cash Items	$152M
Change in Working Capital	$25.1B
OPERATING CASH FLOW	$32.2B
Capital Expenditure	-$718M
Acquisitions (Net)	$46M
Purchases of Investments	-$36.3B
Sales/Maturities of Investments	$36.6B
Other Investing Activities	-$259M
NET CASH FROM INVESTING	-$219M
Net Debt Issuance	-$917M
Common Stock Repurchased	$0
Common Dividends Paid	-$2.2B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$3.7B
FREE CASH FLOW	$31.5B
Net Change in Cash	$26.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$74.2B
Short-Term Investments	$46.1B
Net Receivables	$4.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$125.2B
PP&E (Net)	$3.6B
Goodwill	$3.9B
Intangible Assets	$1.7B
Long-Term Investments	$409.6B
Tax Assets	$941M
Other Non-Current Assets	$177.2B
TOTAL NON-CURRENT ASSETS	$596.9B
TOTAL ASSETS	$722.1B
Account Payables	$10.1B
Short-Term Debt	$134.4B
Deferred Revenue	$0
Other Current Liabilities	$411.4B
TOTAL CURRENT LIABILITIES	$555.9B
Long-Term Debt	$73.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$140M
Other Non-Current Liabilities	$48.4B
TOTAL NON-CURRENT LIABILITIES	$124.2B
TOTAL LIABILITIES	$680.1B
Common Stock	$9.9B
Additional Paid-In Capital	$229M
Retained Earnings	$25.9B
Treasury Stock	$0
Accum. Other Comp. Income	$1.9B
Other Equity	$1.4B
TOTAL STOCKHOLDERS' EQUITY	$42.0B
Minority Interest	$0
TOTAL EQUITY	$42.0B
TOTAL LIABILITIES & EQUITY	$722.1B
Total Debt	$210.0B
Net Debt	$135.8B