ONB FY 2020 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2020 Earnings

Reported February 10, 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	$903M	—	$930M	—	-2.9%
Op. Income	$256M	—	$290M	—	-12.0%
Gross Margin	87.8%	—	85.9%	—	1.9pp
Net Margin	25.1%	—	25.6%	—	-0.5pp
EPS (Diluted)	$1.36	—	$1.38	—	-1.4%
Free Cash Flow	$189M	—	$196M	—	-3.8%

Revenue Flow

Item	Amount
REVENUE	$903M
Cost of Revenue	$110M
GROSS PROFIT	$792M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$310M
SG&A Expenses	$321M
Other Expenses	$216M
Operating Expenses	$537M
Cost & Expenses	$647M
OPERATING INCOME	$256M
Interest Income	$663M
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$256M
Income Tax Expense	$29M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$226M
D&A	$43M
EBIT	$256M
EBITDA	$299M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$903M
Cost of Revenue	$110M
GROSS PROFIT	$792M
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$310M
SG&A Expenses	$321M
Other Expenses	$216M
Operating Expenses	$537M
Cost & Expenses	$647M
OPERATING INCOME	$256M
Interest Income	$663M
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$256M
Income Tax Expense	$29M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$226M
D&A	$43M
EBIT	$256M
EBITDA	$299M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$226M
Depreciation & Amortization	$43M
Stock-Based Compensation	$8M
Deferred Income Tax	$19M
Other Non-Cash Items	$26M
Change in Working Capital	-$102M
OPERATING CASH FLOW	$220M
Capital Expenditure	-$31M
Acquisitions (Net)	$0
Purchases of Investments	-$2.8B
Sales/Maturities of Investments	$2.3B
Other Investing Activities	-$1.6B
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	$172M
Common Stock Repurchased	-$82M
Common Dividends Paid	-$93M
Other Financing Activities	$2.2B
NET CASH FROM FINANCING	$2.2B
FREE CASH FLOW	$189M
Net Change in Cash	$313M

Balance Sheet

Item	Amount
Cash & Equivalents	$590M
Short-Term Investments	$6.0B
Net Receivables	$85M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6.6B
PP&E (Net)	$541M
Goodwill	$1.0B
Intangible Assets	$46M
Long-Term Investments	$13.7B
Tax Assets	$0
Other Non-Current Assets	$974M
TOTAL NON-CURRENT ASSETS	$16.3B
TOTAL ASSETS	$23.0B
Account Payables	$0
Short-Term Debt	$432M
Deferred Revenue	$0
Other Current Liabilities	$17.0B
TOTAL CURRENT LIABILITIES	$17.7B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$20.0B
Common Stock	$165M
Additional Paid-In Capital	$1.9B
Retained Earnings	$784M
Treasury Stock	$0
Accum. Other Comp. Income	$148M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$23.0B
Total Debt	$2.8B
Net Debt	$2.2B