PB FY 2021 Earnings Report — Prosperity Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Prosperity Bancshares, Inc.PB

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.2B	—	-6.7%
Op. Income	$660M	—	$645M	—	2.3%
Gross Margin	95.3%	—	89.2%	—	6.1pp
Net Margin	45.1%	—	42.8%	—	2.3pp
EPS (Diluted)	$5.60	—	$5.68	—	-1.4%
Free Cash Flow	$676M	—	$560M	—	20.6%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$54M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$325M
SG&A Expenses	$328M
Other Expenses	$110M
Operating Expenses	$439M
Cost & Expenses	$492M
OPERATING INCOME	$660M
Interest Income	$1.0B
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$660M
Income Tax Expense	$140M
Net Income from Continuing Ops	$519M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$519M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$519M
D&A	$30M
EBIT	$660M
EBITDA	$689M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$54M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$325M
SG&A Expenses	$328M
Other Expenses	$110M
Operating Expenses	$439M
Cost & Expenses	$492M
OPERATING INCOME	$660M
Interest Income	$1.0B
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$660M
Income Tax Expense	$140M
Net Income from Continuing Ops	$519M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$519M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$519M
D&A	$30M
EBIT	$660M
EBITDA	$689M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$519M
Depreciation & Amortization	$30M
Stock-Based Compensation	$13M
Deferred Income Tax	$23M
Other Non-Cash Items	$51M
Change in Working Capital	$59M
OPERATING CASH FLOW	$695M
Capital Expenditure	-$19M
Acquisitions (Net)	$0
Purchases of Investments	-$23.6B
Sales/Maturities of Investments	$19.3B
Other Investing Activities	$1.6B
NET CASH FROM INVESTING	-$2.7B
Net Debt Issuance	$0
Common Stock Repurchased	-$52M
Common Dividends Paid	-$184M
Other Financing Activities	$3.5B
NET CASH FROM FINANCING	$3.2B
FREE CASH FLOW	$676M
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.5B
Short-Term Investments	$515M
Net Receivables	$66M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.1B
PP&E (Net)	$320M
Goodwill	$3.2B
Intangible Assets	$62M
Long-Term Investments	$30.6B
Tax Assets	$0
Other Non-Current Assets	$458M
TOTAL NON-CURRENT ASSETS	$34.7B
TOTAL ASSETS	$37.8B
Account Payables	$1M
Short-Term Debt	$448M
Deferred Revenue	$0
Other Current Liabilities	$30.8B
TOTAL CURRENT LIABILITIES	$31.2B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$186M
TOTAL NON-CURRENT LIABILITIES	$186M
TOTAL LIABILITIES	$31.4B
Common Stock	$92M
Additional Paid-In Capital	$3.6B
Retained Earnings	$2.7B
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.4B
Minority Interest	$0
TOTAL EQUITY	$6.4B
TOTAL LIABILITIES & EQUITY	$37.8B
Total Debt	$448M
Net Debt	-$2.1B