BOKF FY 2023 Earnings Report — BOK Financial Corporation Revenue & Financial Results | Market Cap Arena

BOK Financial CorporationBOKF

FY 2023 Earnings

Reported February 21, 2024

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	$3.0B	—	$2.0B	—	52.3%
Op. Income	$683M	—	$660M	—	3.5%
Gross Margin	63.3%	—	89.5%	—	-26.1pp
Net Margin	17.4%	—	26.0%	—	-8.6pp
EPS (Diluted)	$8.02	—	$7.68	—	4.4%
Free Cash Flow	-$100M	—	$4.9B	—	-102.0%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$32M
General & Administrative	$841M
SG&A Expenses	$873M
Other Expenses	$373M
Operating Expenses	$1.2B
Cost & Expenses	$2.4B
OPERATING INCOME	$683M
Interest Income	$2.3B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$683M
Income Tax Expense	$152M
Net Income from Continuing Ops	$531M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$531M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$526M
D&A	$110M
EBIT	$683M
EBITDA	$793M
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$32M
General & Administrative	$841M
SG&A Expenses	$873M
Other Expenses	$373M
Operating Expenses	$1.2B
Cost & Expenses	$2.4B
OPERATING INCOME	$683M
Interest Income	$2.3B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$683M
Income Tax Expense	$152M
Net Income from Continuing Ops	$531M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$531M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$526M
D&A	$110M
EBIT	$683M
EBITDA	$793M
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$531M
Depreciation & Amortization	$110M
Stock-Based Compensation	$16M
Deferred Income Tax	$0
Other Non-Cash Items	$169M
Change in Working Capital	-$760M
OPERATING CASH FLOW	$66M
Capital Expenditure	-$166M
Acquisitions (Net)	$33M
Purchases of Investments	-$3.0B
Sales/Maturities of Investments	$2.8B
Other Investing Activities	-$1.7B
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	$1.8B
Common Stock Repurchased	-$182M
Common Dividends Paid	-$143M
Other Financing Activities	$194M
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	-$100M
Net Change in Cash	-$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$12.3B
Net Receivables	$710M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$14.3B
PP&E (Net)	$622M
Goodwill	$1.0B
Intangible Assets	$354M
Long-Term Investments	$26.4B
Tax Assets	$0
Other Non-Current Assets	$7.1B
TOTAL NON-CURRENT ASSETS	$35.5B
TOTAL ASSETS	$49.8B
Account Payables	$339M
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$34.0B
TOTAL CURRENT LIABILITIES	$35.5B
Long-Term Debt	$7.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$9.2B
TOTAL LIABILITIES	$44.7B
Common Stock	$5.0K
Additional Paid-In Capital	$1.4B
Retained Earnings	$5.2B
Treasury Stock	-$877M
Accum. Other Comp. Income	-$599M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.1B
Minority Interest	$3M
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$49.8B
Total Debt	$9.0B
Net Debt	$7.6B