TCBI FY 2019 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2019 Earnings

Reported February 12, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.2B	—	16.9%
Op. Income	$396M	—	$373M	—	6.1%
Gross Margin	67.9%	—	72.6%	—	-4.7pp
Net Margin	21.7%	—	23.9%	—	-2.2pp
EPS (Diluted)	$6.21	—	$5.79	—	7.3%
Free Cash Flow	-$257M	—	-$687M	—	62.6%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$461M
GROSS PROFIT	$975M
R&D Expenses	$0
Selling & Marketing	$53M
General & Administrative	$393M
SG&A Expenses	$447M
Other Expenses	$132M
Operating Expenses	$578M
Cost & Expenses	$1.0B
OPERATING INCOME	$396M
Interest Income	$1.4B
Interest Expense	$386M
Other Income/Expenses	$0
INCOME BEFORE TAX	$396M
Income Tax Expense	$84M
Net Income from Continuing Ops	$312M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$312M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$302M
D&A	$37M
EBIT	$396M
EBITDA	$434M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$461M
GROSS PROFIT	$975M
R&D Expenses	$0
Selling & Marketing	$53M
General & Administrative	$393M
SG&A Expenses	$447M
Other Expenses	$132M
Operating Expenses	$578M
Cost & Expenses	$1.0B
OPERATING INCOME	$396M
Interest Income	$1.4B
Interest Expense	$386M
Other Income/Expenses	$0
INCOME BEFORE TAX	$396M
Income Tax Expense	$84M
Net Income from Continuing Ops	$312M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$312M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$302M
D&A	$37M
EBIT	$396M
EBITDA	$434M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$312M
Depreciation & Amortization	$37M
Stock-Based Compensation	$18M
Deferred Income Tax	$11M
Other Non-Cash Items	-$573M
Change in Working Capital	-$45M
OPERATING CASH FLOW	-$240M
Capital Expenditure	-$17M
Acquisitions (Net)	$0
Purchases of Investments	-$113M
Sales/Maturities of Investments	$6M
Other Investing Activities	-$2.2B
NET CASH FROM INVESTING	-$2.3B
Net Debt Issuance	-$1.5B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$5.4B
NET CASH FROM FINANCING	$3.9B
FREE CASH FLOW	-$257M
Net Change in Cash	$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.4B
Short-Term Investments	$240M
Net Receivables	$740M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.4B
PP&E (Net)	$31M
Goodwill	$15M
Intangible Assets	$68M
Long-Term Investments	$27.0B
Tax Assets	$0
Other Non-Current Assets	$30M
TOTAL NON-CURRENT ASSETS	$27.2B
TOTAL ASSETS	$32.5B
Account Payables	$13M
Short-Term Debt	$142M
Deferred Revenue	$0
Other Current Liabilities	$26.5B
TOTAL CURRENT LIABILITIES	$26.6B
Long-Term Debt	$2.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$318M
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$29.7B
Common Stock	$503.0K
Additional Paid-In Capital	$978M
Retained Earnings	$1.7B
Treasury Stock	-$8.0K
Accum. Other Comp. Income	$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	$0
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$32.5B
Total Debt	$2.9B
Net Debt	-$1.5B