CFR FY 2015 Earnings Report — Cullen/Frost Bankers, Inc. Revenue & Financial Results | Market Cap Arena

Cullen/Frost Bankers, Inc.CFR

FY 2015 Earnings

Reported February 4, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$1.1B	—	$1.0B	—	5.5%
Op. Income	$320M	—	$336M	—	-4.8%
Gross Margin	94.0%	—	97.0%	—	-3.0pp
Net Margin	25.9%	—	27.2%	—	-1.3pp
EPS (Diluted)	$4.28	—	$4.29	—	-0.2%
Free Cash Flow	$248M	—	$158M	—	56.9%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$65M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$29M
General & Administrative	$410M
SG&A Expenses	$439M
Other Expenses	$255M
Operating Expenses	$694M
Cost & Expenses	$758M
OPERATING INCOME	$320M
Interest Income	$749M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$320M
Income Tax Expense	$40M
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$279M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$270M
D&A	$42M
EBIT	$320M
EBITDA	$362M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$65M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$29M
General & Administrative	$410M
SG&A Expenses	$439M
Other Expenses	$255M
Operating Expenses	$694M
Cost & Expenses	$758M
OPERATING INCOME	$320M
Interest Income	$749M
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$320M
Income Tax Expense	$40M
Net Income from Continuing Ops	$279M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$279M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$270M
D&A	$42M
EBIT	$320M
EBITDA	$362M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$279M
Depreciation & Amortization	$42M
Stock-Based Compensation	$13M
Deferred Income Tax	-$19M
Other Non-Cash Items	$107M
Change in Working Capital	-$27M
OPERATING CASH FLOW	$395M
Capital Expenditure	-$147M
Acquisitions (Net)	$0
Purchases of Investments	-$14.1B
Sales/Maturities of Investments	$13.6B
Other Investing Activities	-$493M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$90M
Common Stock Repurchased	-$101M
Common Dividends Paid	-$132M
Other Financing Activities	$223M
NET CASH FROM FINANCING	$71M
FREE CASH FLOW	$248M
Net Change in Cash	-$773M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.5B
Short-Term Investments	$9.2B
Net Receivables	$341M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$13.1B
PP&E (Net)	$559M
Goodwill	$655M
Intangible Assets	$9M
Long-Term Investments	$14.0B
Tax Assets	$0
Other Non-Current Assets	$259M
TOTAL NON-CURRENT ASSETS	$15.5B
TOTAL ASSETS	$28.6B
Account Payables	$203M
Short-Term Debt	$894M
Deferred Revenue	$0
Other Current Liabilities	$24.3B
TOTAL CURRENT LIABILITIES	$25.4B
Long-Term Debt	$236M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$236M
TOTAL LIABILITIES	$25.7B
Common Stock	$637.0K
Additional Paid-In Capital	$897M
Retained Earnings	$1.8B
Treasury Stock	-$111M
Accum. Other Comp. Income	$114M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.9B
Minority Interest	$0
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$28.6B
Total Debt	$1.1B
Net Debt	-$2.4B