TCBI FY 2014 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2014 Earnings

Reported February 19, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$557M	—	$489M	—	14.0%
Op. Income	$212M	—	$188M	—	13.1%
Gross Margin	89.3%	—	91.0%	—	-1.7pp
Net Margin	24.5%	—	24.8%	—	-0.3pp
EPS (Diluted)	$2.88	—	$2.72	—	5.9%
Free Cash Flow	$142M	—	$187M	—	-24.2%

Revenue Flow

Item	Amount
REVENUE	$557M
Cost of Revenue	$60M
GROSS PROFIT	$497M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$199M
SG&A Expenses	$215M
Other Expenses	$70M
Operating Expenses	$285M
Cost & Expenses	$345M
OPERATING INCOME	$212M
Interest Income	$515M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$212M
Income Tax Expense	$76M
Net Income from Continuing Ops	$136M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$136M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$15M
EBIT	$212M
EBITDA	$227M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$557M
Cost of Revenue	$60M
GROSS PROFIT	$497M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$199M
SG&A Expenses	$215M
Other Expenses	$70M
Operating Expenses	$285M
Cost & Expenses	$345M
OPERATING INCOME	$212M
Interest Income	$515M
Interest Expense	$38M
Other Income/Expenses	$0
INCOME BEFORE TAX	$212M
Income Tax Expense	$76M
Net Income from Continuing Ops	$136M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$136M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$127M
D&A	$15M
EBIT	$212M
EBITDA	$227M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$136M
Depreciation & Amortization	$15M
Stock-Based Compensation	$15M
Deferred Income Tax	-$4M
Other Non-Cash Items	$16M
Change in Working Capital	-$20M
OPERATING CASH FLOW	$158M
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$21M
Other Investing Activities	-$3.0B
NET CASH FROM INVESTING	-$3.0B
Net Debt Issuance	$417M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$3.3B
NET CASH FROM FINANCING	$4.0B
FREE CASH FLOW	$142M
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$42M
Net Receivables	$334M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$23M
Goodwill	$15M
Intangible Assets	$6M
Long-Term Investments	$14.2B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$14.2B
TOTAL ASSETS	$15.9B
Account Payables	$5M
Short-Term Debt	$93M
Deferred Revenue	$0
Other Current Liabilities	$12.7B
TOTAL CURRENT LIABILITIES	$12.8B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$151M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$14.4B
Common Stock	$457.0K
Additional Paid-In Capital	$710M
Retained Earnings	$623M
Treasury Stock	-$8.0K
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$15.9B
Total Debt	$1.6B
Net Debt	$262M