BMO Q4 2017 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q4 2017 Earnings

Reported December 5, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$5.3B	$5.0B	$4.7B	5.8%	13.5%
Op. Income	$1.1B	$1.3B	$1.2B	-16.1%	-11.6%
Gross Margin	74.3%	76.8%	78.2%	-2.5pp	-3.9pp
Net Margin	16.9%	20.2%	21.0%	-3.3pp	-4.1pp
EPS (Diluted)	$1.32	$1.50	$1.48	-11.7%	-10.4%
Free Cash Flow	-$3.3B	-$319M	-$7.3B	-940.1%	54.8%

Revenue Flow

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$1.4B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$1.1B
Operating Expenses	$2.8B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.1B
Interest Income	$3.1B
Interest Expense	$1.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$203M
Net Income from Continuing Ops	$897M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$897M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$862M
D&A	$208M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.3B
Cost of Revenue	$1.4B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$1.1B
Operating Expenses	$2.8B
Cost & Expenses	$4.2B
OPERATING INCOME	$1.1B
Interest Income	$3.1B
Interest Expense	$1.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$203M
Net Income from Continuing Ops	$897M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$897M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$862M
D&A	$208M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$897M
Depreciation & Amortization	$208M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$122M
Change in Working Capital	-$4.3B
OPERATING CASH FLOW	-$3.1B
Capital Expenditure	-$205M
Acquisitions (Net)	$0
Purchases of Investments	-$10.4B
Sales/Maturities of Investments	$11.3B
Other Investing Activities	-$370M
NET CASH FROM INVESTING	$455M
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$67M
Common Dividends Paid	-$463M
Other Financing Activities	$845M
NET CASH FROM FINANCING	$2.0B
FREE CASH FLOW	-$3.3B
Net Change in Cash	$18M

Balance Sheet

Item	Amount
Cash & Equivalents	$28.6B
Short-Term Investments	$39.5B
Net Receivables	$6.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$74.7B
PP&E (Net)	$2.2B
Goodwill	$4.6B
Intangible Assets	$1.6B
Long-Term Investments	$291.2B
Tax Assets	$2.1B
Other Non-Current Assets	$142.2B
TOTAL NON-CURRENT ASSETS	$443.8B
TOTAL ASSETS	$518.5B
Account Payables	$8.1B
Short-Term Debt	$89.4B
Deferred Revenue	$0
Other Current Liabilities	$265.6B
TOTAL CURRENT LIABILITIES	$363.1B
Long-Term Debt	$74.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$170M
Other Non-Current Liabilities	$48.0B
TOTAL NON-CURRENT LIABILITIES	$123.0B
TOTAL LIABILITIES	$486.1B
Common Stock	$9.5B
Additional Paid-In Capital	$224M
Retained Earnings	$17.3B
Treasury Stock	-$74M
Accum. Other Comp. Income	$2.2B
Other Equity	$74M
TOTAL STOCKHOLDERS' EQUITY	$32.4B
Minority Interest	$0
TOTAL EQUITY	$32.4B
TOTAL LIABILITIES & EQUITY	$518.5B
Total Debt	$164.2B
Net Debt	$135.6B