TCBI FY 2017 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2017 Earnings

Reported February 14, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$938M	—	$762M	—	23.0%
Op. Income	$326M	—	$241M	—	35.0%
Gross Margin	82.7%	—	81.6%	—	1.2pp
Net Margin	21.0%	—	20.3%	—	0.7pp
EPS (Diluted)	$3.73	—	$3.11	—	19.9%
Free Cash Flow	$120M	—	-$728M	—	116.5%

Revenue Flow

Item	Amount
REVENUE	$938M
Cost of Revenue	$162M
GROSS PROFIT	$776M
R&D Expenses	$0
Selling & Marketing	$27M
General & Administrative	$319M
SG&A Expenses	$346M
Other Expenses	$105M
Operating Expenses	$450M
Cost & Expenses	$618M
OPERATING INCOME	$326M
Interest Income	$879M
Interest Expense	$118M
Other Income/Expenses	$0
INCOME BEFORE TAX	$326M
Income Tax Expense	$129M
Net Income from Continuing Ops	$197M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$197M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$187M
D&A	$28M
EBIT	$326M
EBITDA	$354M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$938M
Cost of Revenue	$162M
GROSS PROFIT	$776M
R&D Expenses	$0
Selling & Marketing	$27M
General & Administrative	$319M
SG&A Expenses	$346M
Other Expenses	$105M
Operating Expenses	$450M
Cost & Expenses	$618M
OPERATING INCOME	$326M
Interest Income	$879M
Interest Expense	$118M
Other Income/Expenses	$0
INCOME BEFORE TAX	$326M
Income Tax Expense	$129M
Net Income from Continuing Ops	$197M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$197M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$187M
D&A	$28M
EBIT	$326M
EBITDA	$354M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$197M
Depreciation & Amortization	$28M
Stock-Based Compensation	$22M
Deferred Income Tax	$31M
Other Non-Cash Items	-$51M
Change in Working Capital	-$95M
OPERATING CASH FLOW	$132M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$98M
Sales/Maturities of Investments	$99M
Other Investing Activities	-$3.2B
NET CASH FROM INVESTING	-$3.2B
Net Debt Issuance	$800M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$2.4B
NET CASH FROM FINANCING	$3.1B
FREE CASH FLOW	$120M
Net Change in Cash	$66M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.9B
Short-Term Investments	$24M
Net Receivables	$516M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$25M
Goodwill	$15M
Intangible Assets	$89M
Long-Term Investments	$21.5B
Tax Assets	$0
Other Non-Current Assets	$30M
TOTAL NON-CURRENT ASSETS	$21.7B
TOTAL ASSETS	$25.1B
Account Payables	$8M
Short-Term Debt	$365M
Deferred Revenue	$0
Other Current Liabilities	$19.1B
TOTAL CURRENT LIABILITIES	$19.5B
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$182M
TOTAL NON-CURRENT LIABILITIES	$3.4B
TOTAL LIABILITIES	$22.9B
Common Stock	$496.0K
Additional Paid-In Capital	$961M
Retained Earnings	$1.1B
Treasury Stock	-$8.0K
Accum. Other Comp. Income	$428.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$25.1B
Total Debt	$3.6B
Net Debt	$684M