PB FY 2016 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

FY 2016 Earnings

Reported February 28, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$777M	—	$775M	—	0.3%
Op. Income	$409M	—	$430M	—	-5.0%
Gross Margin	91.4%	—	94.0%	—	-2.6pp
Net Margin	35.3%	—	37.0%	—	-1.7pp
EPS (Diluted)	$3.94	—	$4.09	—	-3.7%
Free Cash Flow	$329M	—	$301M	—	9.3%

Revenue Flow

Item	Amount
REVENUE	$777M
Cost of Revenue	$67M
GROSS PROFIT	$710M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$198M
SG&A Expenses	$201M
Other Expenses	$101M
Operating Expenses	$301M
Cost & Expenses	$368M
OPERATING INCOME	$409M
Interest Income	$676M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$409M
Income Tax Expense	$134M
Net Income from Continuing Ops	$274M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$274M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$274M
D&A	$22M
EBIT	$409M
EBITDA	$431M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$777M
Cost of Revenue	$67M
GROSS PROFIT	$710M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$198M
SG&A Expenses	$201M
Other Expenses	$101M
Operating Expenses	$301M
Cost & Expenses	$368M
OPERATING INCOME	$409M
Interest Income	$676M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$409M
Income Tax Expense	$134M
Net Income from Continuing Ops	$274M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$274M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$274M
D&A	$22M
EBIT	$409M
EBITDA	$431M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$274M
Depreciation & Amortization	$22M
Stock-Based Compensation	$10M
Deferred Income Tax	$19M
Other Non-Cash Items	$20M
Change in Working Capital	-$11M
OPERATING CASH FLOW	$334M
Capital Expenditure	-$5M
Acquisitions (Net)	-$9M
Purchases of Investments	-$10.1B
Sales/Maturities of Investments	$10.1B
Other Investing Activities	$78M
NET CASH FROM INVESTING	$41M
Net Debt Issuance	$492M
Common Stock Repurchased	-$51M
Common Dividends Paid	-$86M
Other Financing Activities	-$857M
NET CASH FROM FINANCING	-$502M
FREE CASH FLOW	$329M
Net Change in Cash	-$127M

Balance Sheet

Item	Amount
Cash & Equivalents	$436M
Short-Term Investments	$221M
Net Receivables	$53M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$711M
PP&E (Net)	$262M
Goodwill	$1.9B
Intangible Assets	$46M
Long-Term Investments	$19.0B
Tax Assets	$0
Other Non-Current Assets	$370M
TOTAL NON-CURRENT ASSETS	$21.6B
TOTAL ASSETS	$22.3B
Account Payables	$2M
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$17.3B
TOTAL CURRENT LIABILITIES	$18.6B
Long-Term Debt	$6M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$68M
TOTAL NON-CURRENT LIABILITIES	$74M
TOTAL LIABILITIES	$18.7B
Common Stock	$69M
Additional Paid-In Capital	$2.0B
Retained Earnings	$1.5B
Treasury Stock	$0
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.6B
Minority Interest	$0
TOTAL EQUITY	$3.6B
TOTAL LIABILITIES & EQUITY	$22.3B
Total Debt	$1.3B
Net Debt	$875M