ONB FY 2022 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2022 Earnings

Reported February 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.9B	—	$853M	—	117.4%
Op. Income	$545M	—	$339M	—	60.8%
Gross Margin	85.4%	—	98.5%	—	-13.1pp
Net Margin	23.1%	—	32.5%	—	-9.4pp
EPS (Diluted)	$1.50	—	$1.67	—	-10.2%
Free Cash Flow	$777M	—	$282M	—	175.7%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$271M
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$32M
General & Administrative	$595M
SG&A Expenses	$627M
Other Expenses	$411M
Operating Expenses	$1.0B
Cost & Expenses	$1.3B
OPERATING INCOME	$545M
Interest Income	$1.5B
Interest Expense	$126M
Other Income/Expenses	$0
INCOME BEFORE TAX	$545M
Income Tax Expense	$116M
Net Income from Continuing Ops	$428M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$428M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$414M
D&A	$62M
EBIT	$545M
EBITDA	$607M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$271M
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$32M
General & Administrative	$595M
SG&A Expenses	$627M
Other Expenses	$411M
Operating Expenses	$1.0B
Cost & Expenses	$1.3B
OPERATING INCOME	$545M
Interest Income	$1.5B
Interest Expense	$126M
Other Income/Expenses	$0
INCOME BEFORE TAX	$545M
Income Tax Expense	$116M
Net Income from Continuing Ops	$428M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$428M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$414M
D&A	$62M
EBIT	$545M
EBITDA	$607M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$428M
Depreciation & Amortization	$62M
Stock-Based Compensation	$29M
Deferred Income Tax	$11M
Other Non-Cash Items	$65M
Change in Working Capital	$219M
OPERATING CASH FLOW	$814M
Capital Expenditure	-$38M
Acquisitions (Net)	$1.9B
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	-$3.4B
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$975M
Common Stock Repurchased	-$71M
Common Dividends Paid	-$178M
Other Financing Activities	$51M
NET CASH FROM FINANCING	$777M
FREE CASH FLOW	$777M
Net Change in Cash	-$94M

Balance Sheet

Item	Amount
Cash & Equivalents	$728M
Short-Term Investments	$6.8B
Net Receivables	$191M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.7B
PP&E (Net)	$557M
Goodwill	$2.0B
Intangible Assets	$126M
Long-Term Investments	$34.0B
Tax Assets	$0
Other Non-Current Assets	$2.4B
TOTAL NON-CURRENT ASSETS	$39.1B
TOTAL ASSETS	$46.8B
Account Payables	$0
Short-Term Debt	$1.0B
Deferred Revenue	$0
Other Current Liabilities	$35.0B
TOTAL CURRENT LIABILITIES	$37.1B
Long-Term Debt	$4.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$4.6B
TOTAL LIABILITIES	$41.6B
Common Stock	$293M
Additional Paid-In Capital	$4.2B
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$786M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.1B
Minority Interest	$0
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$46.8B
Total Debt	$5.6B
Net Debt	$4.9B