BMO Q4 2021 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q4 2021 Earnings

Reported December 3, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2021	Q3 2021	Q4 2020	QoQ Change	YoY Change
Revenue	$5.7B	$6.5B	$5.5B	-12.3%	3.0%
Op. Income	$2.0B	$2.2B	$1.5B	-5.6%	39.5%
Gross Margin	85.3%	85.3%	72.9%	-0.0pp	12.4pp
Net Margin	27.8%	25.7%	21.0%	2.1pp	6.8pp
EPS (Diluted)	$2.36	$2.49	$1.73	-5.3%	36.3%
Free Cash Flow	$7.4B	-$7.9B	-$12.8B	194.2%	158.1%

Revenue Flow

Item	Amount
REVENUE	$5.7B
Cost of Revenue	$837M
GROSS PROFIT	$4.8B
R&D Expenses	$0
Selling & Marketing	$97M
General & Administrative	$1.6B
SG&A Expenses	$1.7B
Other Expenses	$1.1B
Operating Expenses	$2.8B
Cost & Expenses	$3.6B
OPERATING INCOME	$2.0B
Interest Income	$3.7B
Interest Expense	$930M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$468M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$289M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$5.7B
Cost of Revenue	$837M
GROSS PROFIT	$4.8B
R&D Expenses	$0
Selling & Marketing	$97M
General & Administrative	$1.6B
SG&A Expenses	$1.7B
Other Expenses	$1.1B
Operating Expenses	$2.8B
Cost & Expenses	$3.6B
OPERATING INCOME	$2.0B
Interest Income	$3.7B
Interest Expense	$930M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$468M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$289M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$289M
Stock-Based Compensation	$0
Deferred Income Tax	-$20M
Other Non-Cash Items	-$206M
Change in Working Capital	$6.0B
OPERATING CASH FLOW	$7.6B
Capital Expenditure	-$218M
Acquisitions (Net)	$0
Purchases of Investments	-$7.9B
Sales/Maturities of Investments	$6.7B
Other Investing Activities	$196M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$1.8B
Common Stock Repurchased	$0
Common Dividends Paid	-$545M
Other Financing Activities	$0
NET CASH FROM FINANCING	$1.0B
FREE CASH FLOW	$7.4B
Net Change in Cash	$6.9B

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