NWBI FY 2021 Earnings Report — Northwest Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Northwest Bancshares, Inc.NWBI

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$534M	—	$563M	—	-5.1%
Op. Income	$201M	—	$93M	—	117.4%
Gross Margin	97.9%	—	77.6%	—	20.3pp
Net Margin	28.9%	—	13.3%	—	15.6pp
EPS (Diluted)	$1.21	—	$0.62	—	95.2%
Free Cash Flow	$188M	—	$128M	—	46.6%

Revenue Flow

Item	Amount
REVENUE	$534M
Cost of Revenue	$11M
GROSS PROFIT	$523M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$199M
SG&A Expenses	$207M
Other Expenses	$113M
Operating Expenses	$320M
Cost & Expenses	$333M
OPERATING INCOME	$201M
Interest Income	$418M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$201M
Income Tax Expense	$47M
Net Income from Continuing Ops	$154M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$154M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$7M
EBIT	$201M
EBITDA	$208M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$534M
Cost of Revenue	$11M
GROSS PROFIT	$523M
R&D Expenses	$0
Selling & Marketing	$8M
General & Administrative	$199M
SG&A Expenses	$207M
Other Expenses	$113M
Operating Expenses	$320M
Cost & Expenses	$333M
OPERATING INCOME	$201M
Interest Income	$418M
Interest Expense	$27M
Other Income/Expenses	$0
INCOME BEFORE TAX	$201M
Income Tax Expense	$47M
Net Income from Continuing Ops	$154M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$154M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$7M
EBIT	$201M
EBITDA	$208M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$154M
Depreciation & Amortization	$7M
Stock-Based Compensation	$5M
Deferred Income Tax	$12M
Other Non-Cash Items	$1M
Change in Working Capital	$26M
OPERATING CASH FLOW	$205M
Capital Expenditure	-$18M
Acquisitions (Net)	$28M
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$580M
Other Investing Activities	$540M
NET CASH FROM INVESTING	-$233M
Net Debt Issuance	-$21M
Common Stock Repurchased	-$24M
Common Dividends Paid	-$100M
Other Financing Activities	$715M
NET CASH FROM FINANCING	$570M
FREE CASH FLOW	$188M
Net Change in Cash	$543M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$1.5B
Net Receivables	$26M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$157M
Goodwill	$381M
Intangible Assets	$13M
Long-Term Investments	$10.7B
Tax Assets	$0
Other Non-Current Assets	$415M
TOTAL NON-CURRENT ASSETS	$11.6B
TOTAL ASSETS	$14.5B
Account Payables	$2M
Short-Term Debt	$139M
Deferred Revenue	$0
Other Current Liabilities	$12.3B
TOTAL CURRENT LIABILITIES	$12.4B
Long-Term Debt	$253M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$223M
TOTAL NON-CURRENT LIABILITIES	$476M
TOTAL LIABILITIES	$12.9B
Common Stock	$1M
Additional Paid-In Capital	$1.0B
Retained Earnings	$610M
Treasury Stock	$0
Accum. Other Comp. Income	-$38M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$14.5B
Total Debt	$392M
Net Debt	-$888M