ONB FY 2019 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2019 Earnings

Reported February 12, 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	$930M	—	$813M	—	14.3%
Op. Income	$290M	—	$209M	—	39.1%
Gross Margin	85.9%	—	87.5%	—	-1.6pp
Net Margin	25.6%	—	23.5%	—	2.2pp
EPS (Diluted)	$1.38	—	$1.22	—	13.1%
Free Cash Flow	$196M	—	$201M	—	-2.3%

Revenue Flow

Item	Amount
REVENUE	$930M
Cost of Revenue	$131M
GROSS PROFIT	$799M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$344M
SG&A Expenses	$360M
Other Expenses	$149M
Operating Expenses	$508M
Cost & Expenses	$639M
OPERATING INCOME	$290M
Interest Income	$730M
Interest Expense	$126M
Other Income/Expenses	$0
INCOME BEFORE TAX	$290M
Income Tax Expense	$52M
Net Income from Continuing Ops	$238M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$238M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$238M
D&A	$44M
EBIT	$290M
EBITDA	$334M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$930M
Cost of Revenue	$131M
GROSS PROFIT	$799M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$344M
SG&A Expenses	$360M
Other Expenses	$149M
Operating Expenses	$508M
Cost & Expenses	$639M
OPERATING INCOME	$290M
Interest Income	$730M
Interest Expense	$126M
Other Income/Expenses	$0
INCOME BEFORE TAX	$290M
Income Tax Expense	$52M
Net Income from Continuing Ops	$238M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$238M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$238M
D&A	$44M
EBIT	$290M
EBITDA	$334M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$238M
Depreciation & Amortization	$44M
Stock-Based Compensation	$8M
Deferred Income Tax	$3M
Other Non-Cash Items	-$49M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$234M
Capital Expenditure	-$37M
Acquisitions (Net)	$0
Purchases of Investments	-$2.4B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	$153M
NET CASH FROM INVESTING	-$525M
Net Debt Issuance	$193M
Common Stock Repurchased	-$102M
Common Dividends Paid	-$89M
Other Financing Activities	-$1M
NET CASH FROM FINANCING	$251M
FREE CASH FLOW	$196M
Net Change in Cash	-$41M

Balance Sheet

Item	Amount
Cash & Equivalents	$276M
Short-Term Investments	$5.4B
Net Receivables	$85M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.7B
PP&E (Net)	$586M
Goodwill	$1.0B
Intangible Assets	$60M
Long-Term Investments	$12.1B
Tax Assets	$30M
Other Non-Current Assets	$842M
TOTAL NON-CURRENT ASSETS	$14.7B
TOTAL ASSETS	$20.4B
Account Payables	$0
Short-Term Debt	$678M
Deferred Revenue	$0
Other Current Liabilities	$14.6B
TOTAL CURRENT LIABILITIES	$15.4B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.2B
TOTAL LIABILITIES	$17.6B
Common Stock	$170M
Additional Paid-In Capital	$1.9B
Retained Earnings	$682M
Treasury Stock	$0
Accum. Other Comp. Income	$56M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.9B
Minority Interest	$0
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$20.4B
Total Debt	$2.8B
Net Debt	$2.6B