BMO FY 2023 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

FY 2023 Earnings

Reported December 1, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$49.7B	—	$27.2B	—	82.5%
Op. Income	$4.3B	—	$13.1B	—	-66.8%
Gross Margin	43.6%	—	69.6%	—	-26.0pp
Net Margin	6.5%	—	36.3%	—	-29.8pp
EPS (Diluted)	$4.21	—	$14.61	—	-71.2%
Free Cash Flow	$5.8B	—	$2.6B	—	125.5%

Revenue Flow

Item	Amount
REVENUE	$49.7B
Cost of Revenue	$28.0B
GROSS PROFIT	$21.7B
R&D Expenses	$0
Selling & Marketing	$593M
General & Administrative	$8.4B
SG&A Expenses	$9.0B
Other Expenses	$8.3B
Operating Expenses	$17.3B
Cost & Expenses	$45.4B
OPERATING INCOME	$4.3B
Interest Income	$40.6B
Interest Expense	$27.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.3B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$1.5B
EBIT	$4.3B
EBITDA	$5.9B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$49.7B
Cost of Revenue	$28.0B
GROSS PROFIT	$21.7B
R&D Expenses	$0
Selling & Marketing	$593M
General & Administrative	$8.4B
SG&A Expenses	$9.0B
Other Expenses	$8.3B
Operating Expenses	$17.3B
Cost & Expenses	$45.4B
OPERATING INCOME	$4.3B
Interest Income	$40.6B
Interest Expense	$27.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.3B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$3.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.0B
D&A	$1.5B
EBIT	$4.3B
EBITDA	$5.9B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$3.2B
Depreciation & Amortization	$1.5B
Stock-Based Compensation	$0
Deferred Income Tax	-$517M
Other Non-Cash Items	$1.3B
Change in Working Capital	$1.4B
OPERATING CASH FLOW	$7.0B
Capital Expenditure	-$1.2B
Acquisitions (Net)	-$11.0B
Purchases of Investments	-$36.6B
Sales/Maturities of Investments	$32.2B
Other Investing Activities	$1.2B
NET CASH FROM INVESTING	-$15.5B
Net Debt Issuance	-$2.3B
Common Stock Repurchased	$0
Common Dividends Paid	-$2.0B
Other Financing Activities	$1.5B
NET CASH FROM FINANCING	$196M
FREE CASH FLOW	$5.8B
Net Change in Cash	-$7.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$60.0B
Short-Term Investments	$45.9B
Net Receivables	$47.5B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$153.3B
PP&E (Net)	$4.7B
Goodwill	$12.2B
Intangible Assets	$3.8B
Long-Term Investments	$608.1B
Tax Assets	$2.5B
Other Non-Current Assets	$199.8B
TOTAL NON-CURRENT ASSETS	$831.0B
TOTAL ASSETS	$984.4B
Account Payables	$51.9B
Short-Term Debt	$156.9B
Deferred Revenue	$0
Other Current Liabilities	$544.2B
TOTAL CURRENT LIABILITIES	$753.0B
Long-Term Debt	$99.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$12M
Other Non-Current Liabilities	$73.2B
TOTAL NON-CURRENT LIABILITIES	$175.7B
TOTAL LIABILITIES	$928.7B
Common Stock	$16.8B
Additional Paid-In Capital	$240M
Retained Earnings	$32.2B
Treasury Stock	$0
Accum. Other Comp. Income	$1.4B
Other Equity	$2.7B
TOTAL STOCKHOLDERS' EQUITY	$55.6B
Minority Interest	$20M
TOTAL EQUITY	$55.6B
TOTAL LIABILITIES & EQUITY	$984.4B
Total Debt	$259.3B
Net Debt	$199.4B