TCBI FY 2015 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2015 Earnings

Reported February 18, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$651M	—	$557M	—	16.8%
Op. Income	$224M	—	$212M	—	5.7%
Gross Margin	84.7%	—	89.3%	—	-4.6pp
Net Margin	22.3%	—	24.5%	—	-2.2pp
EPS (Diluted)	$2.91	—	$2.88	—	1.0%
Free Cash Flow	$64M	—	$142M	—	-55.0%

Revenue Flow

Item	Amount
REVENUE	$651M
Cost of Revenue	$100M
GROSS PROFIT	$551M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$231M
SG&A Expenses	$248M
Other Expenses	$79M
Operating Expenses	$327M
Cost & Expenses	$426M
OPERATING INCOME	$224M
Interest Income	$603M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$224M
Income Tax Expense	$80M
Net Income from Continuing Ops	$145M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$145M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$135M
D&A	$16M
EBIT	$224M
EBITDA	$241M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$651M
Cost of Revenue	$100M
GROSS PROFIT	$551M
R&D Expenses	$0
Selling & Marketing	$16M
General & Administrative	$231M
SG&A Expenses	$248M
Other Expenses	$79M
Operating Expenses	$327M
Cost & Expenses	$426M
OPERATING INCOME	$224M
Interest Income	$603M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$224M
Income Tax Expense	$80M
Net Income from Continuing Ops	$145M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$145M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$135M
D&A	$16M
EBIT	$224M
EBITDA	$241M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$145M
Depreciation & Amortization	$16M
Stock-Based Compensation	$12M
Deferred Income Tax	-$4M
Other Non-Cash Items	-$37M
Change in Working Capital	-$65M
OPERATING CASH FLOW	$69M
Capital Expenditure	-$5M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$11M
Other Investing Activities	-$2.5B
NET CASH FROM INVESTING	-$2.5B
Net Debt Issuance	$400M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$2.5B
NET CASH FROM FINANCING	$2.9B
FREE CASH FLOW	$64M
Net Change in Cash	$460M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$30M
Net Receivables	$382M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$24M
Goodwill	$15M
Intangible Assets	$5M
Long-Term Investments	$16.7B
Tax Assets	$0
Other Non-Current Assets	$55M
TOTAL NON-CURRENT ASSETS	$16.8B
TOTAL ASSETS	$18.9B
Account Payables	$5M
Short-Term Debt	$143M
Deferred Revenue	$0
Other Current Liabilities	$15.1B
TOTAL CURRENT LIABILITIES	$15.2B
Long-Term Debt	$1.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$153M
TOTAL NON-CURRENT LIABILITIES	$2.0B
TOTAL LIABILITIES	$17.3B
Common Stock	$459.0K
Additional Paid-In Capital	$715M
Retained Earnings	$758M
Treasury Stock	-$8.0K
Accum. Other Comp. Income	$718.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$18.9B
Total Debt	$2.0B
Net Debt	$301M