PB FY 2020 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

FY 2020 Earnings

Reported February 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.2B	—	$934M	—	32.3%
Op. Income	$645M	—	$419M	—	53.9%
Gross Margin	89.2%	—	84.8%	—	4.4pp
Net Margin	42.8%	—	35.6%	—	7.2pp
EPS (Diluted)	$5.68	—	$4.52	—	25.7%
Free Cash Flow	$560M	—	$384M	—	45.7%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$133M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$319M
SG&A Expenses	$323M
Other Expenses	$134M
Operating Expenses	$457M
Cost & Expenses	$590M
OPERATING INCOME	$645M
Interest Income	$1.1B
Interest Expense	$113M
Other Income/Expenses	$0
INCOME BEFORE TAX	$645M
Income Tax Expense	$116M
Net Income from Continuing Ops	$529M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$529M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$529M
D&A	$31M
EBIT	$645M
EBITDA	$676M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$133M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$319M
SG&A Expenses	$323M
Other Expenses	$134M
Operating Expenses	$457M
Cost & Expenses	$590M
OPERATING INCOME	$645M
Interest Income	$1.1B
Interest Expense	$113M
Other Income/Expenses	$0
INCOME BEFORE TAX	$645M
Income Tax Expense	$116M
Net Income from Continuing Ops	$529M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$529M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$529M
D&A	$31M
EBIT	$645M
EBITDA	$676M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$529M
Depreciation & Amortization	$31M
Stock-Based Compensation	$13M
Deferred Income Tax	$25M
Other Non-Cash Items	-$444.0K
Change in Working Capital	-$15M
OPERATING CASH FLOW	$582M
Capital Expenditure	-$22M
Acquisitions (Net)	$0
Purchases of Investments	-$17.5B
Sales/Maturities of Investments	$17.5B
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	-$1.4B
Common Stock Repurchased	-$115M
Common Dividends Paid	-$174M
Other Financing Activities	$3.2B
NET CASH FROM FINANCING	$1.5B
FREE CASH FLOW	$560M
Net Change in Cash	$769M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$652M
Net Receivables	$82M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$324M
Goodwill	$3.2B
Intangible Assets	$73M
Long-Term Investments	$27.8B
Tax Assets	$0
Other Non-Current Assets	$532M
TOTAL NON-CURRENT ASSETS	$32.0B
TOTAL ASSETS	$34.1B
Account Payables	$3M
Short-Term Debt	$390M
Deferred Revenue	$0
Other Current Liabilities	$27.4B
TOTAL CURRENT LIABILITIES	$27.8B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$175M
TOTAL NON-CURRENT LIABILITIES	$175M
TOTAL LIABILITIES	$27.9B
Common Stock	$93M
Additional Paid-In Capital	$3.6B
Retained Earnings	$2.4B
Treasury Stock	$0
Accum. Other Comp. Income	$769.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.1B
Minority Interest	$0
TOTAL EQUITY	$6.1B
TOTAL LIABILITIES & EQUITY	$34.1B
Total Debt	$390M
Net Debt	-$953M