PNFP FY 2013 Earnings Report — Pinnacle Financial Partners, Inc. Revenue & Financial Results | Market Cap Arena

Pinnacle Financial Partners, Inc.PNFP

FY 2013 Earnings

Reported February 25, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$230M	—	$220M	—	4.8%
Op. Income	$86M	—	$63M	—	37.4%
Gross Margin	89.9%	—	87.2%	—	2.7pp
Net Margin	25.1%	—	19.1%	—	6.0pp
EPS (Diluted)	$1.67	—	$1.10	—	51.8%
Free Cash Flow	$121M	—	$108M	—	11.7%

Revenue Flow

Item	Amount
REVENUE	$230M
Cost of Revenue	$23M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$89M
SG&A Expenses	$92M
Other Expenses	$29M
Operating Expenses	$121M
Cost & Expenses	$144M
OPERATING INCOME	$86M
Interest Income	$191M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$86M
Income Tax Expense	$28M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$58M
D&A	$9M
EBIT	$86M
EBITDA	$95M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$230M
Cost of Revenue	$23M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$89M
SG&A Expenses	$92M
Other Expenses	$29M
Operating Expenses	$121M
Cost & Expenses	$144M
OPERATING INCOME	$86M
Interest Income	$191M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$86M
Income Tax Expense	$28M
Net Income from Continuing Ops	$58M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$58M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$58M
D&A	$9M
EBIT	$86M
EBITDA	$95M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$58M
Depreciation & Amortization	$9M
Stock-Based Compensation	$4M
Deferred Income Tax	$2M
Other Non-Cash Items	$45M
Change in Working Capital	$9M
OPERATING CASH FLOW	$126M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	-$244M
Sales/Maturities of Investments	$170M
Other Investing Activities	-$486M
NET CASH FROM INVESTING	-$565M
Net Debt Issuance	$7M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$477M
NET CASH FROM FINANCING	$482M
FREE CASH FLOW	$121M
Net Change in Cash	$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$204M
Short-Term Investments	$693M
Net Receivables	$15M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$913M
PP&E (Net)	$73M
Goodwill	$244M
Intangible Assets	$4M
Long-Term Investments	$4.2B
Tax Assets	$0
Other Non-Current Assets	$168M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$5.6B
Account Payables	$792.7K
Short-Term Debt	$70M
Deferred Revenue	$0
Other Current Liabilities	$4.5B
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$189M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$46M
TOTAL NON-CURRENT LIABILITIES	$235M
TOTAL LIABILITIES	$4.8B
Common Stock	$35M
Additional Paid-In Capital	$550M
Retained Earnings	$142M
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$724M
Minority Interest	$0
TOTAL EQUITY	$724M
TOTAL LIABILITIES & EQUITY	$5.6B
Total Debt	$260M
Net Debt	$55M