CBSH FY 2017 Earnings Report — Commerce Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Commerce Bancshares, Inc.CBSH

FY 2017 Earnings

Reported February 22, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.2B	—	9.0%
Op. Income	$430M	—	$401M	—	7.3%
Gross Margin	93.0%	—	94.0%	—	-1.1pp
Net Margin	25.3%	—	23.7%	—	1.5pp
EPS (Diluted)	$2.05	—	$1.77	—	15.8%
Free Cash Flow	$396M	—	$430M	—	-8.1%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$89M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$566M
SG&A Expenses	$582M
Other Expenses	$162M
Operating Expenses	$744M
Cost & Expenses	$833M
OPERATING INCOME	$430M
Interest Income	$777M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$430M
Income Tax Expense	$111M
Net Income from Continuing Ops	$320M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$319M
Net Income Deductions	-$10.0K
BOTTOM LINE NET INCOME	$307M
D&A	$40M
EBIT	$430M
EBITDA	$470M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$89M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$566M
SG&A Expenses	$582M
Other Expenses	$162M
Operating Expenses	$744M
Cost & Expenses	$833M
OPERATING INCOME	$430M
Interest Income	$777M
Interest Expense	$44M
Other Income/Expenses	$0
INCOME BEFORE TAX	$430M
Income Tax Expense	$111M
Net Income from Continuing Ops	$320M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$319M
Net Income Deductions	-$10.0K
BOTTOM LINE NET INCOME	$307M
D&A	$40M
EBIT	$430M
EBITDA	$470M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$320M
Depreciation & Amortization	$40M
Stock-Based Compensation	$12M
Deferred Income Tax	$14M
Other Non-Cash Items	$73M
Change in Working Capital	-$32M
OPERATING CASH FLOW	$427M
Capital Expenditure	-$31M
Acquisitions (Net)	$0
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$2.7B
Other Investing Activities	-$587M
NET CASH FROM INVESTING	$221M
Net Debt Issuance	-$100M
Common Stock Repurchased	-$18M
Common Dividends Paid	-$92M
Other Financing Activities	-$706M
NET CASH FROM FINANCING	-$925M
FREE CASH FLOW	$396M
Net Change in Cash	-$277M

Balance Sheet

Item	Amount
Cash & Equivalents	$469M
Short-Term Investments	$8.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$9.2B
PP&E (Net)	$335M
Goodwill	$139M
Intangible Assets	$8M
Long-Term Investments	$14.0B
Tax Assets	$0
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$15.6B
TOTAL ASSETS	$24.8B
Account Payables	$0
Short-Term Debt	$1.5B
Deferred Revenue	$0
Other Current Liabilities	$20.4B
TOTAL CURRENT LIABILITIES	$21.9B
Long-Term Debt	$2M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$181M
TOTAL NON-CURRENT LIABILITIES	$183M
TOTAL LIABILITIES	$22.1B
Common Stock	$535M
Additional Paid-In Capital	$1.8B
Retained Earnings	$221M
Treasury Stock	-$14M
Accum. Other Comp. Income	$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.7B
Minority Interest	$2M
TOTAL EQUITY	$2.7B
TOTAL LIABILITIES & EQUITY	$24.8B
Total Debt	$1.5B
Net Debt	$1.0B