FCNCA FY 2019 Earnings Report — First Citizens BancShares, Inc. Revenue & Financial Results | Market Cap Arena

First Citizens BancShares, Inc.FCNCA

FY 2019 Earnings

Reported February 26, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.8B	—	$1.6B	—	12.6%
Op. Income	$592M	—	$504M	—	17.6%
Gross Margin	93.1%	—	95.9%	—	-2.8pp
Net Margin	25.5%	—	25.2%	—	0.4pp
EPS (Diluted)	$41.05	—	$33.53	—	22.4%
Free Cash Flow	$457M	—	$313M	—	45.9%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$124M
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$692M
SG&A Expenses	$703M
Other Expenses	$371M
Operating Expenses	$1.1B
Cost & Expenses	$1.2B
OPERATING INCOME	$592M
Interest Income	$1.4B
Interest Expense	$93M
Other Income/Expenses	$0
INCOME BEFORE TAX	$592M
Income Tax Expense	$135M
Net Income from Continuing Ops	$457M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$457M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$457M
D&A	$128M
EBIT	$592M
EBITDA	$720M
EPS	$41
EPS Diluted	$41

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$124M
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$692M
SG&A Expenses	$703M
Other Expenses	$371M
Operating Expenses	$1.1B
Cost & Expenses	$1.2B
OPERATING INCOME	$592M
Interest Income	$1.4B
Interest Expense	$93M
Other Income/Expenses	$0
INCOME BEFORE TAX	$592M
Income Tax Expense	$135M
Net Income from Continuing Ops	$457M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$457M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$457M
D&A	$128M
EBIT	$592M
EBITDA	$720M
EPS	$41
EPS Diluted	$41

Cash Flow Statement

Item	Amount
Net Income	$457M
Depreciation & Amortization	$128M
Stock-Based Compensation	$0
Deferred Income Tax	$55M
Other Non-Cash Items	-$12M
Change in Working Capital	-$50M
OPERATING CASH FLOW	$578M
Capital Expenditure	-$121M
Acquisitions (Net)	-$237M
Purchases of Investments	-$5.0B
Sales/Maturities of Investments	$5.1B
Other Investing Activities	-$1.3B
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	$99M
Common Stock Repurchased	-$453M
Common Dividends Paid	-$18M
Other Financing Activities	$1.4B
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	$457M
Net Change in Cash	$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$377M
Short-Term Investments	$8.2B
Net Receivables	$123M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.7B
PP&E (Net)	$1.2B
Goodwill	$349M
Intangible Assets	$68M
Long-Term Investments	$28.8B
Tax Assets	$0
Other Non-Current Assets	$657M
TOTAL NON-CURRENT ASSETS	$31.2B
TOTAL ASSETS	$39.8B
Account Payables	$0
Short-Term Debt	$443M
Deferred Revenue	$0
Other Current Liabilities	$34.4B
TOTAL CURRENT LIABILITIES	$34.9B
Long-Term Debt	$884M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$480M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$36.2B
Common Stock	$11M
Additional Paid-In Capital	$44M
Retained Earnings	$3.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$127M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.6B
Minority Interest	$0
TOTAL EQUITY	$3.6B
TOTAL LIABILITIES & EQUITY	$39.8B
Total Debt	$1.3B
Net Debt	$950M