PB FY 2017 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

FY 2017 Earnings

Reported February 27, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$777M	—	$777M	—	-0.1%
Op. Income	$406M	—	$409M	—	-0.6%
Gross Margin	90.4%	—	91.4%	—	-1.0pp
Net Margin	35.0%	—	35.3%	—	-0.3pp
EPS (Diluted)	$3.92	—	$3.94	—	-0.5%
Free Cash Flow	$379M	—	$329M	—	15.2%

Revenue Flow

Item	Amount
REVENUE	$777M
Cost of Revenue	$75M
GROSS PROFIT	$702M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$192M
SG&A Expenses	$195M
Other Expenses	$101M
Operating Expenses	$296M
Cost & Expenses	$371M
OPERATING INCOME	$406M
Interest Income	$677M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$406M
Income Tax Expense	$134M
Net Income from Continuing Ops	$272M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$272M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$272M
D&A	$19M
EBIT	$406M
EBITDA	$425M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$777M
Cost of Revenue	$75M
GROSS PROFIT	$702M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$192M
SG&A Expenses	$195M
Other Expenses	$101M
Operating Expenses	$296M
Cost & Expenses	$371M
OPERATING INCOME	$406M
Interest Income	$677M
Interest Expense	$60M
Other Income/Expenses	$0
INCOME BEFORE TAX	$406M
Income Tax Expense	$134M
Net Income from Continuing Ops	$272M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$272M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$272M
D&A	$19M
EBIT	$406M
EBITDA	$425M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$272M
Depreciation & Amortization	$19M
Stock-Based Compensation	$7M
Deferred Income Tax	$11M
Other Non-Cash Items	$26M
Change in Working Capital	$56M
OPERATING CASH FLOW	$391M
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	-$9.0B
Sales/Maturities of Investments	$9.0B
Other Investing Activities	-$377M
NET CASH FROM INVESTING	-$373M
Net Debt Issuance	-$486M
Common Stock Repurchased	$0
Common Dividends Paid	-$96M
Other Financing Activities	$518M
NET CASH FROM FINANCING	-$63M
FREE CASH FLOW	$379M
Net Change in Cash	-$45M

Balance Sheet

Item	Amount
Cash & Equivalents	$392M
Short-Term Investments	$218M
Net Receivables	$56M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$666M
PP&E (Net)	$257M
Goodwill	$1.9B
Intangible Assets	$39M
Long-Term Investments	$19.4B
Tax Assets	$0
Other Non-Current Assets	$334M
TOTAL NON-CURRENT ASSETS	$21.9B
TOTAL ASSETS	$22.6B
Account Payables	$3M
Short-Term Debt	$824M
Deferred Revenue	$0
Other Current Liabilities	$17.8B
TOTAL CURRENT LIABILITIES	$18.6B
Long-Term Debt	$5M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$109M
TOTAL NON-CURRENT LIABILITIES	$115M
TOTAL LIABILITIES	$18.8B
Common Stock	$69M
Additional Paid-In Capital	$2.0B
Retained Earnings	$1.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$113.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.8B
Minority Interest	$0
TOTAL EQUITY	$3.8B
TOTAL LIABILITIES & EQUITY	$22.6B
Total Debt	$829M
Net Debt	$438M