HBNC FY 2020 Earnings Report — Horizon Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Horizon Bancorp, Inc.HBNC

FY 2020 Earnings

Reported February 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$254M	—	$243M	—	4.8%
Op. Income	$78M	—	$80M	—	-1.8%
Gross Margin	78.3%	—	79.6%	—	-1.3pp
Net Margin	26.9%	—	27.4%	—	-0.5pp
EPS (Diluted)	$1.55	—	$1.53	—	1.3%
Free Cash Flow	$73M	—	$170M	—	-57.1%

Revenue Flow

Item	Amount
REVENUE	$254M
Cost of Revenue	$55M
GROSS PROFIT	$199M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$73M
SG&A Expenses	$73M
Other Expenses	$48M
Operating Expenses	$121M
Cost & Expenses	$176M
OPERATING INCOME	$78M
Interest Income	$200M
Interest Expense	$34M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$10M
Net Income from Continuing Ops	$68M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$68M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$68M
D&A	$12M
EBIT	$78M
EBITDA	$91M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$254M
Cost of Revenue	$55M
GROSS PROFIT	$199M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$73M
SG&A Expenses	$73M
Other Expenses	$48M
Operating Expenses	$121M
Cost & Expenses	$176M
OPERATING INCOME	$78M
Interest Income	$200M
Interest Expense	$34M
Other Income/Expenses	$0
INCOME BEFORE TAX	$78M
Income Tax Expense	$10M
Net Income from Continuing Ops	$68M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$68M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$68M
D&A	$12M
EBIT	$78M
EBITDA	$91M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$68M
Depreciation & Amortization	$12M
Stock-Based Compensation	$1M
Deferred Income Tax	-$9M
Other Non-Cash Items	$13M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$79M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$590M
Sales/Maturities of Investments	$356M
Other Investing Activities	-$239M
NET CASH FROM INVESTING	-$478M
Net Debt Issuance	-$29M
Common Stock Repurchased	-$20M
Common Dividends Paid	-$21M
Other Financing Activities	$620M
NET CASH FROM FINANCING	$550M
FREE CASH FLOW	$73M
Net Change in Cash	$151M

Balance Sheet

Item	Amount
Cash & Equivalents	$259M
Short-Term Investments	$1.1B
Net Receivables	$21M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$92M
Goodwill	$151M
Intangible Assets	$23M
Long-Term Investments	$4.0B
Tax Assets	$0
Other Non-Current Assets	$213M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$5.9B
Account Payables	$3M
Short-Term Debt	$109M
Deferred Revenue	$0
Other Current Liabilities	$4.5B
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$481M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$70M
TOTAL NON-CURRENT LIABILITIES	$551M
TOTAL LIABILITIES	$5.2B
Common Stock	$0
Additional Paid-In Capital	$363M
Retained Earnings	$301M
Treasury Stock	$0
Accum. Other Comp. Income	$28M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$692M
Minority Interest	$0
TOTAL EQUITY	$692M
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$590M
Net Debt	$331M