BMO Q1 2021 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q1 2021 Earnings

Reported February 23, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$6.1B	$5.5B	$7.2B	11.3%	-14.7%
Op. Income	$1.9B	$1.5B	$1.5B	29.9%	29.4%
Gross Margin	80.5%	72.9%	64.7%	7.6pp	15.8pp
Net Margin	24.0%	21.0%	16.2%	3.0pp	7.8pp
EPS (Diluted)	$2.21	$1.73	$1.73	27.8%	27.8%
Free Cash Flow	$14.3B	-$12.8B	$7.7B	212.4%	85.7%

Revenue Flow

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.9B
R&D Expenses	$0
Selling & Marketing	$48M
General & Administrative	$2.0B
SG&A Expenses	$2.0B
Other Expenses	$1.0B
Operating Expenses	$3.0B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.9B
Interest Income	$3.7B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$430M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$287M
EBIT	$1.9B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.9B
R&D Expenses	$0
Selling & Marketing	$48M
General & Administrative	$2.0B
SG&A Expenses	$2.0B
Other Expenses	$1.0B
Operating Expenses	$3.0B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.9B
Interest Income	$3.7B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$430M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$287M
EBIT	$1.9B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.5B
Depreciation & Amortization	$287M
Stock-Based Compensation	$0
Deferred Income Tax	$77M
Other Non-Cash Items	$39M
Change in Working Capital	$12.6B
OPERATING CASH FLOW	$14.5B
Capital Expenditure	-$170M
Acquisitions (Net)	$0
Purchases of Investments	-$9.9B
Sales/Maturities of Investments	$9.2B
Other Investing Activities	$161M
NET CASH FROM INVESTING	-$563M
Net Debt Issuance	-$786M
Common Stock Repurchased	$0
Common Dividends Paid	-$539M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$1.8B
FREE CASH FLOW	$14.3B
Net Change in Cash	$11.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$59.5B
Short-Term Investments	$51.6B
Net Receivables	$1.0B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$112.2B
PP&E (Net)	$3.1B
Goodwill	$4.7B
Intangible Assets	$1.7B
Long-Term Investments	$401.7B
Tax Assets	$979M
Other Non-Current Assets	$186.9B
TOTAL NON-CURRENT ASSETS	$599.0B
TOTAL ASSETS	$711.2B
Account Payables	$0
Short-Term Debt	$137.2B
Deferred Revenue	$0
Other Current Liabilities	$401.3B
TOTAL CURRENT LIABILITIES	$538.5B
Long-Term Debt	$75.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$113M
Other Non-Current Liabilities	$56.6B
TOTAL NON-CURRENT LIABILITIES	$131.7B
TOTAL LIABILITIES	$670.2B
Common Stock	$9.9B
Additional Paid-In Capital	$226M
Retained Earnings	$23.4B
Treasury Stock	-$32M
Accum. Other Comp. Income	$3.3B
Other Equity	$1.4B
TOTAL STOCKHOLDERS' EQUITY	$41.0B
Minority Interest	$0
TOTAL EQUITY	$41.0B
TOTAL LIABILITIES & EQUITY	$711.2B
Total Debt	$212.2B
Net Debt	$152.6B