CBSH Q2 2018 Earnings Report — Commerce Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Commerce Bancshares, Inc.CBSH

Q2 2018 Earnings

Reported August 6, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$347M	—	$311M	—	11.8%
Op. Income	$141M	—	$112M	—	25.5%
Gross Margin	92.9%	—	93.1%	—	-0.2pp
Net Margin	31.8%	—	25.4%	—	6.3pp
EPS (Diluted)	$0.72	—	$0.51	—	41.2%
Free Cash Flow	$136M	—	$60M	—	125.4%

Revenue Flow

Item	Amount
REVENUE	$347M
Cost of Revenue	$25M
GROSS PROFIT	$323M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$119M
SG&A Expenses	$124M
Other Expenses	$58M
Operating Expenses	$182M
Cost & Expenses	$207M
OPERATING INCOME	$141M
Interest Income	$226M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$141M
Income Tax Expense	$30M
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$110M
Net Income Deductions	-$3.0K
BOTTOM LINE NET INCOME	$107M
D&A	$10M
EBIT	$141M
EBITDA	$150M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$347M
Cost of Revenue	$25M
GROSS PROFIT	$323M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$119M
SG&A Expenses	$124M
Other Expenses	$58M
Operating Expenses	$182M
Cost & Expenses	$207M
OPERATING INCOME	$141M
Interest Income	$226M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$141M
Income Tax Expense	$30M
Net Income from Continuing Ops	$111M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$110M
Net Income Deductions	-$3.0K
BOTTOM LINE NET INCOME	$107M
D&A	$10M
EBIT	$141M
EBITDA	$150M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$111M
Depreciation & Amortization	$10M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$19M
Change in Working Capital	$1M
OPERATING CASH FLOW	$144M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$450M
Sales/Maturities of Investments	$498M
Other Investing Activities	-$70M
NET CASH FROM INVESTING	-$30M
Net Debt Issuance	$152.0K
Common Stock Repurchased	-$2M
Common Dividends Paid	-$25M
Other Financing Activities	-$122M
NET CASH FROM FINANCING	-$151M
FREE CASH FLOW	$136M
Net Change in Cash	-$37M

Balance Sheet

Item	Amount
Cash & Equivalents	$501M
Short-Term Investments	$8.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.9B
PP&E (Net)	$332M
Goodwill	$139M
Intangible Assets	$8M
Long-Term Investments	$13.9B
Tax Assets	$0
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$15.6B
TOTAL ASSETS	$24.5B
Account Payables	$0
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$20.3B
TOTAL CURRENT LIABILITIES	$21.5B
Long-Term Debt	$9M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$256M
TOTAL NON-CURRENT LIABILITIES	$265M
TOTAL LIABILITIES	$21.8B
Common Stock	$535M
Additional Paid-In Capital	$1.8B
Retained Earnings	$408M
Treasury Stock	-$16M
Accum. Other Comp. Income	-$109M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	$3M
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$24.5B
Total Debt	$1.2B
Net Debt	$675M