PB FY 2015 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

FY 2015 Earnings

Reported February 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$775M	—	$820M	—	-5.5%
Op. Income	$430M	—	$446M	—	-3.5%
Gross Margin	94.0%	—	92.4%	—	1.5pp
Net Margin	37.0%	—	36.3%	—	0.7pp
EPS (Diluted)	$4.09	—	$4.32	—	-5.3%
Free Cash Flow	$301M	—	$336M	—	-10.3%

Revenue Flow

Item	Amount
REVENUE	$775M
Cost of Revenue	$47M
GROSS PROFIT	$728M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$193M
SG&A Expenses	$196M
Other Expenses	$102M
Operating Expenses	$298M
Cost & Expenses	$345M
OPERATING INCOME	$430M
Interest Income	$670M
Interest Expense	$39M
Other Income/Expenses	$0
INCOME BEFORE TAX	$430M
Income Tax Expense	$144M
Net Income from Continuing Ops	$287M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$287M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$287M
D&A	$22M
EBIT	$430M
EBITDA	$453M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$775M
Cost of Revenue	$47M
GROSS PROFIT	$728M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$193M
SG&A Expenses	$196M
Other Expenses	$102M
Operating Expenses	$298M
Cost & Expenses	$345M
OPERATING INCOME	$430M
Interest Income	$670M
Interest Expense	$39M
Other Income/Expenses	$0
INCOME BEFORE TAX	$430M
Income Tax Expense	$144M
Net Income from Continuing Ops	$287M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$287M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$287M
D&A	$22M
EBIT	$430M
EBITDA	$453M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$287M
Depreciation & Amortization	$22M
Stock-Based Compensation	$11M
Deferred Income Tax	$35M
Other Non-Cash Items	-$5M
Change in Working Capital	-$39M
OPERATING CASH FLOW	$311M
Capital Expenditure	-$9M
Acquisitions (Net)	$0
Purchases of Investments	-$10.1B
Sales/Maturities of Investments	$9.6B
Other Investing Activities	-$124M
NET CASH FROM INVESTING	-$651M
Net Debt Issuance	$315M
Common Stock Repurchased	$0
Common Dividends Paid	-$78M
Other Financing Activities	-$11M
NET CASH FROM FINANCING	$226M
FREE CASH FLOW	$301M
Net Change in Cash	-$114M

Balance Sheet

Item	Amount
Cash & Equivalents	$563M
Short-Term Investments	$103M
Net Receivables	$52M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$718M
PP&E (Net)	$268M
Goodwill	$1.9B
Intangible Assets	$49M
Long-Term Investments	$18.8B
Tax Assets	$0
Other Non-Current Assets	$377M
TOTAL NON-CURRENT ASSETS	$21.3B
TOTAL ASSETS	$22.0B
Account Payables	$2M
Short-Term Debt	$800M
Deferred Revenue	$0
Other Current Liabilities	$17.7B
TOTAL CURRENT LIABILITIES	$18.5B
Long-Term Debt	$6M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$85M
TOTAL NON-CURRENT LIABILITIES	$91M
TOTAL LIABILITIES	$18.6B
Common Stock	$70M
Additional Paid-In Capital	$2.0B
Retained Earnings	$1.4B
Treasury Stock	-$607.0K
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$0
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$22.0B
Total Debt	$807M
Net Debt	$244M