BMO Q4 2022 Earnings Report — Bank of Montreal Revenue & Financial Results | Market Cap Arena

Bank of MontrealBMO

Q4 2022 Earnings

Reported December 1, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2022	Q3 2022	Q4 2021	QoQ Change	YoY Change
Revenue	$8.7B	$7.2B	$5.7B	20.9%	52.2%
Op. Income	$4.3B	$1.2B	$2.0B	251.1%	112.1%
Gross Margin	52.9%	69.5%	85.3%	-16.7pp	-32.4pp
Net Margin	37.9%	13.9%	27.8%	23.9pp	10.1pp
EPS (Diluted)	$4.75	$1.43	$2.36	233.3%	101.2%
Free Cash Flow	$12.7B	-$1.7B	$7.4B	845.9%	71.4%

Revenue Flow

Item	Amount
REVENUE	$8.7B
Cost of Revenue	$4.1B
GROSS PROFIT	$4.6B
R&D Expenses	$0
Selling & Marketing	$118M
General & Administrative	$1.4B
SG&A Expenses	$1.5B
Other Expenses	-$1.3B
Operating Expenses	$235M
Cost & Expenses	$4.3B
OPERATING INCOME	$4.3B
Interest Income	$6.7B
Interest Expense	$3.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.3B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$277M
EBIT	$4.3B
EBITDA	$4.6B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$8.7B
Cost of Revenue	$4.1B
GROSS PROFIT	$4.6B
R&D Expenses	$0
Selling & Marketing	$118M
General & Administrative	$1.4B
SG&A Expenses	$1.5B
Other Expenses	-$1.3B
Operating Expenses	$235M
Cost & Expenses	$4.3B
OPERATING INCOME	$4.3B
Interest Income	$6.7B
Interest Expense	$3.9B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.3B
Income Tax Expense	$1.1B
Net Income from Continuing Ops	$3.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.3B
D&A	$277M
EBIT	$4.3B
EBITDA	$4.6B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$3.3B
Depreciation & Amortization	$277M
Stock-Based Compensation	$0
Deferred Income Tax	-$40M
Other Non-Cash Items	$186M
Change in Working Capital	$9.4B
OPERATING CASH FLOW	$13.1B
Capital Expenditure	-$357M
Acquisitions (Net)	$0
Purchases of Investments	-$13.6B
Sales/Maturities of Investments	$10.0B
Other Investing Activities	$1.4B
NET CASH FROM INVESTING	-$2.4B
Net Debt Issuance	$930M
Common Stock Repurchased	-$294M
Common Dividends Paid	-$463M
Other Financing Activities	$0
NET CASH FROM FINANCING	$904M
FREE CASH FLOW	$12.7B
Net Change in Cash	$13.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$68.1B
Short-Term Investments	$31.8B
Net Receivables	$5.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$105.9B
PP&E (Net)	$3.7B
Goodwill	$3.9B
Intangible Assets	$1.6B
Long-Term Investments	$527.2B
Tax Assets	$859M
Other Non-Current Assets	$189.4B
TOTAL NON-CURRENT ASSETS	$726.6B
TOTAL ASSETS	$832.5B
Account Payables	$12.1B
Short-Term Debt	$146.2B
Deferred Revenue	$0
Other Current Liabilities	$457.4B
TOTAL CURRENT LIABILITIES	$615.6B
Long-Term Debt	$90.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$75M
Other Non-Current Liabilities	$72.4B
TOTAL NON-CURRENT LIABILITIES	$165.0B
TOTAL LIABILITIES	$780.6B
Common Stock	$13.0B
Additional Paid-In Capital	$232M
Retained Earnings	$33.0B
Treasury Stock	$0
Accum. Other Comp. Income	$1.1B
Other Equity	$2.7B
TOTAL STOCKHOLDERS' EQUITY	$51.9B
Minority Interest	$0
TOTAL EQUITY	$51.9B
TOTAL LIABILITIES & EQUITY	$832.5B
Total Debt	$238.7B
Net Debt	$170.6B