NTB FY 2017 Earnings Report — The Bank of N.T. Butterfield & Son Limited Revenue & Financial Results | Market Cap Arena

The Bank of N.T. Butterfield & Son LimitedNTB

FY 2017 Earnings

Reported February 26, 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	$449M	—	$407M	—	10.3%
Op. Income	$153.3K	—	$115.9K	—	32.3%
Gross Margin	100.0%	—	99.9%	—	0.1pp
Net Margin	34.2%	—	28.5%	—	5.7pp
EPS (Diluted)	$2.76	—	$1.18	—	133.9%
Free Cash Flow	$179M	—	$168M	—	6.1%

Revenue Flow

Item	Amount
REVENUE	$449M
Cost of Revenue	$8.0K
GROSS PROFIT	$449M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$207M
SG&A Expenses	$213M
Other Expenses	$1M
Operating Expenses	$214M
Cost & Expenses	$214M
OPERATING INCOME	$153.3K
Interest Income	$290M
Interest Expense	$16M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$154M
Income Tax Expense	$1M
Net Income from Continuing Ops	$153M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$153M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$50M
EBIT	-$50M
EBITDA	$0
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$449M
Cost of Revenue	$8.0K
GROSS PROFIT	$449M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$207M
SG&A Expenses	$213M
Other Expenses	$1M
Operating Expenses	$214M
Cost & Expenses	$214M
OPERATING INCOME	$153.3K
Interest Income	$290M
Interest Expense	$16M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$154M
Income Tax Expense	$1M
Net Income from Continuing Ops	$153M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$153M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$50M
EBIT	-$50M
EBITDA	$0
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$153M
Depreciation & Amortization	$24M
Stock-Based Compensation	$8M
Deferred Income Tax	-$32M
Other Non-Cash Items	$2M
Change in Working Capital	$37M
OPERATING CASH FLOW	$193M
Capital Expenditure	-$15M
Acquisitions (Net)	-$426.0K
Purchases of Investments	-$795M
Sales/Maturities of Investments	$928M
Other Investing Activities	-$36M
NET CASH FROM INVESTING	$81M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$70M
Other Financing Activities	-$617M
NET CASH FROM FINANCING	-$686M
FREE CASH FLOW	$179M
Net Change in Cash	-$602M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$250M
Net Receivables	$25M
Inventory	$0
Other Current Assets	$456M
TOTAL CURRENT ASSETS	$5.6B
PP&E (Net)	$165M
Goodwill	$22M
Intangible Assets	$39M
Long-Term Investments	$5.0B
Tax Assets	$1M
Other Non-Current Assets	$13M
TOTAL NON-CURRENT ASSETS	$5.2B
TOTAL ASSETS	$10.8B
Account Payables	$2M
Short-Term Debt	$0
Deferred Revenue	$9.5B
Other Current Liabilities	-$57M
TOTAL CURRENT LIABILITIES	$9.5B
Long-Term Debt	$117M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$117M
TOTAL LIABILITIES	$10.0B
Common Stock	$823M
Additional Paid-In Capital	$1.2B
Retained Earnings	-$204M
Treasury Stock	$0
Accum. Other Comp. Income	-$129M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$823M
Minority Interest	$0
TOTAL EQUITY	$823M
TOTAL LIABILITIES & EQUITY	$10.8B
Total Debt	$117M
Net Debt	-$1.4B