PB FY 2019 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

FY 2019 Earnings

Reported February 28, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$934M	—	$825M	—	13.1%
Op. Income	$419M	—	$403M	—	4.0%
Gross Margin	84.8%	—	86.2%	—	-1.3pp
Net Margin	35.6%	—	39.0%	—	-3.4pp
EPS (Diluted)	$4.52	—	$4.61	—	-2.0%
Free Cash Flow	$384M	—	$305M	—	26.0%

Revenue Flow

Item	Amount
REVENUE	$934M
Cost of Revenue	$141M
GROSS PROFIT	$792M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$226M
SG&A Expenses	$230M
Other Expenses	$143M
Operating Expenses	$373M
Cost & Expenses	$514M
OPERATING INCOME	$419M
Interest Income	$833M
Interest Expense	$137M
Other Income/Expenses	$0
INCOME BEFORE TAX	$419M
Income Tax Expense	$87M
Net Income from Continuing Ops	$333M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$333M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$333M
D&A	$20M
EBIT	$419M
EBITDA	$439M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$934M
Cost of Revenue	$141M
GROSS PROFIT	$792M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$226M
SG&A Expenses	$230M
Other Expenses	$143M
Operating Expenses	$373M
Cost & Expenses	$514M
OPERATING INCOME	$419M
Interest Income	$833M
Interest Expense	$137M
Other Income/Expenses	$0
INCOME BEFORE TAX	$419M
Income Tax Expense	$87M
Net Income from Continuing Ops	$333M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$333M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$333M
D&A	$20M
EBIT	$419M
EBITDA	$439M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$333M
Depreciation & Amortization	$20M
Stock-Based Compensation	$11M
Deferred Income Tax	-$26M
Other Non-Cash Items	$13M
Change in Working Capital	$53M
OPERATING CASH FLOW	$403M
Capital Expenditure	-$19M
Acquisitions (Net)	-$77M
Purchases of Investments	-$9.6B
Sales/Maturities of Investments	$10.8B
Other Investing Activities	$74M
NET CASH FROM INVESTING	$1.3B
Net Debt Issuance	-$1.8B
Common Stock Repurchased	-$94M
Common Dividends Paid	-$129M
Other Financing Activities	$545M
NET CASH FROM FINANCING	-$1.5B
FREE CASH FLOW	$384M
Net Change in Cash	$163M

Balance Sheet

Item	Amount
Cash & Equivalents	$574M
Short-Term Investments	$288M
Net Receivables	$81M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$942M
PP&E (Net)	$327M
Goodwill	$3.2B
Intangible Assets	$86M
Long-Term Investments	$27.0B
Tax Assets	$0
Other Non-Current Assets	$566M
TOTAL NON-CURRENT ASSETS	$31.2B
TOTAL ASSETS	$32.2B
Account Payables	$9M
Short-Term Debt	$1.7B
Deferred Revenue	$0
Other Current Liabilities	$24.2B
TOTAL CURRENT LIABILITIES	$25.9B
Long-Term Debt	$130M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$200M
TOTAL NON-CURRENT LIABILITIES	$329M
TOTAL LIABILITIES	$26.2B
Common Stock	$95M
Additional Paid-In Capital	$3.7B
Retained Earnings	$2.1B
Treasury Stock	$0
Accum. Other Comp. Income	$602.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.0B
Minority Interest	$0
TOTAL EQUITY	$6.0B
TOTAL LIABILITIES & EQUITY	$32.2B
Total Debt	$1.8B
Net Debt	$1.2B