FCNCA FY 2018 Earnings Report — First Citizens BancShares, Inc. Revenue & Financial Results | Market Cap Arena

First Citizens BancShares, Inc.FCNCA

FY 2018 Earnings

Reported February 20, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.5B	—	9.4%
Op. Income	$504M	—	$544M	—	-7.4%
Gross Margin	95.9%	—	95.2%	—	0.7pp
Net Margin	25.2%	—	22.3%	—	2.9pp
EPS (Diluted)	$33.53	—	$26.96	—	24.4%
Free Cash Flow	$313M	—	$270M	—	15.8%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$65M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$675M
SG&A Expenses	$687M
Other Expenses	$333M
Operating Expenses	$1.0B
Cost & Expenses	$1.1B
OPERATING INCOME	$504M
Interest Income	$1.2B
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$504M
Income Tax Expense	$103M
Net Income from Continuing Ops	$400M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$400M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$400M
D&A	$120M
EBIT	$504M
EBITDA	$624M
EPS	$34
EPS Diluted	$34

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$65M
GROSS PROFIT	$1.5B
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$675M
SG&A Expenses	$687M
Other Expenses	$333M
Operating Expenses	$1.0B
Cost & Expenses	$1.1B
OPERATING INCOME	$504M
Interest Income	$1.2B
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$504M
Income Tax Expense	$103M
Net Income from Continuing Ops	$400M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$400M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$400M
D&A	$120M
EBIT	$504M
EBITDA	$624M
EPS	$34
EPS Diluted	$34

Cash Flow Statement

Item	Amount
Net Income	$400M
Depreciation & Amortization	$120M
Stock-Based Compensation	$0
Deferred Income Tax	-$13M
Other Non-Cash Items	-$70M
Change in Working Capital	$16M
OPERATING CASH FLOW	$454M
Capital Expenditure	-$140M
Acquisitions (Net)	-$155M
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$2.9B
Other Investing Activities	-$984M
NET CASH FROM INVESTING	$101M
Net Debt Issuance	-$874M
Common Stock Repurchased	-$163M
Common Dividends Paid	-$17M
Other Financing Activities	$490M
NET CASH FROM FINANCING	-$564M
FREE CASH FLOW	$313M
Net Change in Cash	-$9M

Balance Sheet

Item	Amount
Cash & Equivalents	$327M
Short-Term Investments	$5.4B
Net Receivables	$110M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.8B
PP&E (Net)	$1.2B
Goodwill	$236M
Intangible Assets	$72M
Long-Term Investments	$27.8B
Tax Assets	$0
Other Non-Current Assets	$482M
TOTAL NON-CURRENT ASSETS	$29.6B
TOTAL ASSETS	$35.4B
Account Payables	$0
Short-Term Debt	$572M
Deferred Revenue	$0
Other Current Liabilities	$30.7B
TOTAL CURRENT LIABILITIES	$31.2B
Long-Term Debt	$348M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$314M
TOTAL NON-CURRENT LIABILITIES	$675M
TOTAL LIABILITIES	$31.9B
Common Stock	$12M
Additional Paid-In Capital	$494M
Retained Earnings	$3.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$235M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$0
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$35.4B
Total Debt	$934M
Net Debt	$606M