PB FY 2018 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

FY 2018 Earnings

Reported February 27, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$825M	—	$777M	—	6.3%
Op. Income	$403M	—	$406M	—	-0.7%
Gross Margin	86.2%	—	90.4%	—	-4.2pp
Net Margin	39.0%	—	35.0%	—	3.9pp
EPS (Diluted)	$4.61	—	$3.92	—	17.6%
Free Cash Flow	$305M	—	$379M	—	-19.6%

Revenue Flow

Item	Amount
REVENUE	$825M
Cost of Revenue	$114M
GROSS PROFIT	$711M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$208M
SG&A Expenses	$210M
Other Expenses	$98M
Operating Expenses	$308M
Cost & Expenses	$422M
OPERATING INCOME	$403M
Interest Income	$727M
Interest Expense	$98M
Other Income/Expenses	$0
INCOME BEFORE TAX	$403M
Income Tax Expense	$81M
Net Income from Continuing Ops	$322M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$322M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$322M
D&A	$18M
EBIT	$403M
EBITDA	$421M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$825M
Cost of Revenue	$114M
GROSS PROFIT	$711M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$208M
SG&A Expenses	$210M
Other Expenses	$98M
Operating Expenses	$308M
Cost & Expenses	$422M
OPERATING INCOME	$403M
Interest Income	$727M
Interest Expense	$98M
Other Income/Expenses	$0
INCOME BEFORE TAX	$403M
Income Tax Expense	$81M
Net Income from Continuing Ops	$322M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$322M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$322M
D&A	$18M
EBIT	$403M
EBITDA	$421M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$322M
Depreciation & Amortization	$18M
Stock-Based Compensation	$10M
Deferred Income Tax	$7M
Other Non-Cash Items	$36M
Change in Working Capital	-$73M
OPERATING CASH FLOW	$320M
Capital Expenditure	-$15M
Acquisitions (Net)	$0
Purchases of Investments	-$9.6B
Sales/Maturities of Investments	$9.9B
Other Investing Activities	-$336M
NET CASH FROM INVESTING	-$119M
Net Debt Issuance	$526M
Common Stock Repurchased	$0
Common Dividends Paid	-$104M
Other Financing Activities	-$604M
NET CASH FROM FINANCING	-$182M
FREE CASH FLOW	$305M
Net Change in Cash	$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$411M
Short-Term Investments	$84M
Net Receivables	$57M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$551M
PP&E (Net)	$257M
Goodwill	$1.9B
Intangible Assets	$33M
Long-Term Investments	$19.6B
Tax Assets	$0
Other Non-Current Assets	$343M
TOTAL NON-CURRENT ASSETS	$22.1B
TOTAL ASSETS	$22.7B
Account Payables	$4M
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$17.3B
TOTAL CURRENT LIABILITIES	$18.6B
Long-Term Debt	$1M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$64M
TOTAL NON-CURRENT LIABILITIES	$65M
TOTAL LIABILITIES	$18.6B
Common Stock	$70M
Additional Paid-In Capital	$2.0B
Retained Earnings	$1.9B
Treasury Stock	$0
Accum. Other Comp. Income	$310.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.1B
Minority Interest	$0
TOTAL EQUITY	$4.1B
TOTAL LIABILITIES & EQUITY	$22.7B
Total Debt	$1.3B
Net Debt	$905M