CFR FY 2017 Earnings Report — Cullen/Frost Bankers, Inc. Revenue & Financial Results | Market Cap Arena

Cullen/Frost Bankers, Inc.CFR

FY 2017 Earnings

Reported February 7, 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	$1.2B	—	$1.1B	—	8.0%
Op. Income	$408M	—	$341M	—	19.6%
Gross Margin	95.0%	—	94.4%	—	0.6pp
Net Margin	29.6%	—	26.7%	—	2.9pp
EPS (Diluted)	$5.51	—	$4.70	—	17.2%
Free Cash Flow	$504M	—	$384M	—	31.2%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$62M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$29M
General & Administrative	$447M
SG&A Expenses	$476M
Other Expenses	$283M
Operating Expenses	$759M
Cost & Expenses	$821M
OPERATING INCOME	$408M
Interest Income	$893M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$408M
Income Tax Expense	$44M
Net Income from Continuing Ops	$364M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$364M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$354M
D&A	$48M
EBIT	$408M
EBITDA	$456M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$62M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$29M
General & Administrative	$447M
SG&A Expenses	$476M
Other Expenses	$283M
Operating Expenses	$759M
Cost & Expenses	$821M
OPERATING INCOME	$408M
Interest Income	$893M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$408M
Income Tax Expense	$44M
Net Income from Continuing Ops	$364M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$364M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$354M
D&A	$48M
EBIT	$408M
EBITDA	$456M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$364M
Depreciation & Amortization	$48M
Stock-Based Compensation	$13M
Deferred Income Tax	-$14M
Other Non-Cash Items	$115M
Change in Working Capital	$12M
OPERATING CASH FLOW	$538M
Capital Expenditure	-$34M
Acquisitions (Net)	$0
Purchases of Investments	-$13.5B
Sales/Maturities of Investments	$14.1B
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$671M
Net Debt Issuance	$169M
Common Stock Repurchased	-$101M
Common Dividends Paid	-$144M
Other Financing Activities	$1.1B
NET CASH FROM FINANCING	$1.0B
FREE CASH FLOW	$504M
Net Change in Cash	$912M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.9B
Short-Term Investments	$10.5B
Net Receivables	$401M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$15.8B
PP&E (Net)	$521M
Goodwill	$655M
Intangible Assets	$5M
Long-Term Investments	$14.4B
Tax Assets	$0
Other Non-Current Assets	$362M
TOTAL NON-CURRENT ASSETS	$16.0B
TOTAL ASSETS	$31.7B
Account Payables	$195M
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$26.9B
TOTAL CURRENT LIABILITIES	$28.2B
Long-Term Debt	$235M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$235M
TOTAL LIABILITIES	$28.5B
Common Stock	$642.0K
Additional Paid-In Capital	$953M
Retained Earnings	$2.2B
Treasury Stock	-$67M
Accum. Other Comp. Income	$80M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$31.7B
Total Debt	$1.4B
Net Debt	-$3.5B