STEL FY 2018 Earnings Report — Stellar Bancorp, Inc. Revenue & Financial Results | Market Cap Arena

Stellar Bancorp, Inc.STEL

FY 2018 Earnings

Reported December 30, 2018

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	$149M	—	$129M	—	15.1%
Op. Income	$59M	—	$44M	—	33.2%
Gross Margin	93.7%	—	93.4%	—	0.3pp
Net Margin	31.8%	—	21.3%	—	10.5pp
EPS (Diluted)	$1.89	—	$1.22	—	54.9%
Free Cash Flow	$48M	—	$36M	—	34.9%

Revenue Flow

Item	Amount
REVENUE	$149M
Cost of Revenue	$9M
GROSS PROFIT	$139M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$59M
SG&A Expenses	$61M
Other Expenses	$20M
Operating Expenses	$81M
Cost & Expenses	$90M
OPERATING INCOME	$59M
Interest Income	$136M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$59M
Income Tax Expense	$11M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$4M
EBIT	$59M
EBITDA	$63M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$149M
Cost of Revenue	$9M
GROSS PROFIT	$139M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$59M
SG&A Expenses	$61M
Other Expenses	$20M
Operating Expenses	$81M
Cost & Expenses	$90M
OPERATING INCOME	$59M
Interest Income	$136M
Interest Expense	$11M
Other Income/Expenses	$0
INCOME BEFORE TAX	$59M
Income Tax Expense	$11M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$4M
EBIT	$59M
EBITDA	$63M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$4M
Stock-Based Compensation	$2M
Deferred Income Tax	-$734.0K
Other Non-Cash Items	-$3M
Change in Working Capital	$65.0K
OPERATING CASH FLOW	$49M
Capital Expenditure	-$1M
Acquisitions (Net)	$0
Purchases of Investments	-$497M
Sales/Maturities of Investments	$485M
Other Investing Activities	-$135M
NET CASH FROM INVESTING	-$148M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$5M
Other Financing Activities	$159M
NET CASH FROM FINANCING	$154M
FREE CASH FLOW	$48M
Net Change in Cash	$56M

Balance Sheet

Item	Amount
Cash & Equivalents	$382M
Short-Term Investments	$58M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$440M
PP&E (Net)	$52M
Goodwill	$81M
Intangible Assets	$6M
Long-Term Investments	$2.6B
Tax Assets	$7M
Other Non-Current Assets	$85M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$3.3B
Account Payables	$0
Short-Term Debt	$2M
Deferred Revenue	$0
Other Current Liabilities	$2.8B
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$2M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$21M
TOTAL NON-CURRENT LIABILITIES	$23M
TOTAL LIABILITIES	$2.8B
Common Stock	$258.0K
Additional Paid-In Capital	$344M
Retained Earnings	$161M
Treasury Stock	-$15M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$488M
Minority Interest	$0
TOTAL EQUITY	$488M
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$4M
Net Debt	-$378M