CFR FY 2016 Earnings Report — Cullen/Frost Bankers, Inc. Revenue & Financial Results | Market Cap Arena

Cullen/Frost Bankers, Inc.CFR

FY 2016 Earnings

Reported February 3, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$1.1B	—	$1.1B	—	5.6%
Op. Income	$341M	—	$320M	—	6.8%
Gross Margin	94.4%	—	94.0%	—	0.4pp
Net Margin	26.7%	—	25.9%	—	0.8pp
EPS (Diluted)	$4.70	—	$4.28	—	9.8%
Free Cash Flow	$384M	—	$248M	—	55.1%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$64M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$28M
General & Administrative	$423M
SG&A Expenses	$451M
Other Expenses	$282M
Operating Expenses	$733M
Cost & Expenses	$797M
OPERATING INCOME	$341M
Interest Income	$788M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$341M
Income Tax Expense	$37M
Net Income from Continuing Ops	$304M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$304M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$295M
D&A	$48M
EBIT	$341M
EBITDA	$390M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$64M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$28M
General & Administrative	$423M
SG&A Expenses	$451M
Other Expenses	$282M
Operating Expenses	$733M
Cost & Expenses	$797M
OPERATING INCOME	$341M
Interest Income	$788M
Interest Expense	$12M
Other Income/Expenses	$0
INCOME BEFORE TAX	$341M
Income Tax Expense	$37M
Net Income from Continuing Ops	$304M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$304M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$295M
D&A	$48M
EBIT	$341M
EBITDA	$390M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$304M
Depreciation & Amortization	$48M
Stock-Based Compensation	$12M
Deferred Income Tax	-$12M
Other Non-Cash Items	$99M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$438M
Capital Expenditure	-$54M
Acquisitions (Net)	-$492.0K
Purchases of Investments	-$16.4B
Sales/Maturities of Investments	$15.5B
Other Investing Activities	-$448M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$83M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$135M
Other Financing Activities	$1.5B
NET CASH FROM FINANCING	$1.5B
FREE CASH FLOW	$384M
Net Change in Cash	$550M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.1B
Short-Term Investments	$10.2B
Net Receivables	$397M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$14.7B
PP&E (Net)	$526M
Goodwill	$655M
Intangible Assets	$7M
Long-Term Investments	$14.1B
Tax Assets	$0
Other Non-Current Assets	$213M
TOTAL NON-CURRENT ASSETS	$15.5B
TOTAL ASSETS	$30.2B
Account Payables	$169M
Short-Term Debt	$977M
Deferred Revenue	$0
Other Current Liabilities	$25.8B
TOTAL CURRENT LIABILITIES	$27.0B
Long-Term Debt	$236M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$236M
TOTAL LIABILITIES	$27.2B
Common Stock	$637.0K
Additional Paid-In Capital	$907M
Retained Earnings	$2.0B
Treasury Stock	-$10M
Accum. Other Comp. Income	-$25M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$30.2B
Total Debt	$1.2B
Net Debt	-$2.9B