ONB FY 2024 Earnings Report — Old National Bancorp Revenue & Financial Results | Market Cap Arena

Old National BancorpONB

FY 2024 Earnings

Reported February 19, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$3.0B	—	$2.5B	—	16.4%
Op. Income	$680M	—	$751M	—	-9.4%
Gross Margin	60.0%	—	70.0%	—	-9.9pp
Net Margin	18.2%	—	22.9%	—	-4.7pp
EPS (Diluted)	$1.68	—	$1.94	—	-13.4%
Free Cash Flow	$592M	—	$478M	—	23.9%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$46M
General & Administrative	$648M
SG&A Expenses	$693M
Other Expenses	$401M
Operating Expenses	$1.1B
Cost & Expenses	$2.3B
OPERATING INCOME	$680M
Interest Income	$2.6B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$680M
Income Tax Expense	$141M
Net Income from Continuing Ops	$539M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$539M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$523M
D&A	$66M
EBIT	$680M
EBITDA	$746M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$46M
General & Administrative	$648M
SG&A Expenses	$693M
Other Expenses	$401M
Operating Expenses	$1.1B
Cost & Expenses	$2.3B
OPERATING INCOME	$680M
Interest Income	$2.6B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$680M
Income Tax Expense	$141M
Net Income from Continuing Ops	$539M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$539M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$523M
D&A	$66M
EBIT	$680M
EBITDA	$746M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$539M
Depreciation & Amortization	$66M
Stock-Based Compensation	$32M
Deferred Income Tax	$13M
Other Non-Cash Items	$83M
Change in Working Capital	-$111M
OPERATING CASH FLOW	$622M
Capital Expenditure	-$30M
Acquisitions (Net)	$178M
Purchases of Investments	-$1.8B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	-$10M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$191M
Other Financing Activities	$1.0B
NET CASH FROM FINANCING	$803M
FREE CASH FLOW	$592M
Net Change in Cash	$53M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$7.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.7B
PP&E (Net)	$589M
Goodwill	$2.2B
Intangible Assets	$121M
Long-Term Investments	$39.0B
Tax Assets	$0
Other Non-Current Assets	$3.0B
TOTAL NON-CURRENT ASSETS	$44.9B
TOTAL ASSETS	$53.6B
Account Payables	$0
Short-Term Debt	$269M
Deferred Revenue	$0
Other Current Liabilities	$40.8B
TOTAL CURRENT LIABILITIES	$41.1B
Long-Term Debt	$5.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$977M
TOTAL NON-CURRENT LIABILITIES	$6.1B
TOTAL LIABILITIES	$47.2B
Common Stock	$319M
Additional Paid-In Capital	$4.6B
Retained Earnings	$2.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$746M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.3B
Minority Interest	$0
TOTAL EQUITY	$6.3B
TOTAL LIABILITIES & EQUITY	$53.6B
Total Debt	$5.4B
Net Debt	$4.2B