TCBI FY 2020 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2020 Earnings

Reported February 9, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.4B	—	-17.9%
Op. Income	$92M	—	$396M	—	-76.8%
Gross Margin	62.1%	—	67.9%	—	-5.8pp
Net Margin	5.6%	—	21.7%	—	-16.1pp
EPS (Diluted)	$1.12	—	$6.21	—	-82.0%
Free Cash Flow	$2.6B	—	-$257M	—	1126.7%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$446M
GROSS PROFIT	$732M
R&D Expenses	$0
Selling & Marketing	$24M
General & Administrative	$366M
SG&A Expenses	$390M
Other Expenses	$250M
Operating Expenses	$640M
Cost & Expenses	$1.1B
OPERATING INCOME	$92M
Interest Income	$1.0B
Interest Expense	$188M
Other Income/Expenses	$0
INCOME BEFORE TAX	$92M
Income Tax Expense	$26M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$75M
EBIT	$92M
EBITDA	$167M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$446M
GROSS PROFIT	$732M
R&D Expenses	$0
Selling & Marketing	$24M
General & Administrative	$366M
SG&A Expenses	$390M
Other Expenses	$250M
Operating Expenses	$640M
Cost & Expenses	$1.1B
OPERATING INCOME	$92M
Interest Income	$1.0B
Interest Expense	$188M
Other Income/Expenses	$0
INCOME BEFORE TAX	$92M
Income Tax Expense	$26M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$57M
D&A	$75M
EBIT	$92M
EBITDA	$167M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$66M
Depreciation & Amortization	$75M
Stock-Based Compensation	$17M
Deferred Income Tax	-$8M
Other Non-Cash Items	$2.5B
Change in Working Capital	$16M
OPERATING CASH FLOW	$2.6B
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$3.0B
Sales/Maturities of Investments	$53M
Other Investing Activities	$17M
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$570M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$4.5B
NET CASH FROM FINANCING	$5.1B
FREE CASH FLOW	$2.6B
Net Change in Cash	$4.8B

Balance Sheet

Item	Amount
Cash & Equivalents	$9.2B
Short-Term Investments	$3.2B
Net Receivables	$716M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$13.1B
PP&E (Net)	$25M
Goodwill	$15M
Intangible Assets	$108M
Long-Term Investments	$24.5B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$24.6B
TOTAL ASSETS	$37.7B
Account Payables	$11M
Short-Term Debt	$112M
Deferred Revenue	$0
Other Current Liabilities	$31.0B
TOTAL CURRENT LIABILITIES	$31.1B
Long-Term Debt	$3.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$339M
TOTAL NON-CURRENT LIABILITIES	$3.7B
TOTAL LIABILITIES	$34.9B
Common Stock	$504.0K
Additional Paid-In Capital	$992M
Retained Earnings	$1.7B
Treasury Stock	-$8.0K
Accum. Other Comp. Income	$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.9B
Minority Interest	$0
TOTAL EQUITY	$2.9B
TOTAL LIABILITIES & EQUITY	$37.7B
Total Debt	$3.5B
Net Debt	-$5.7B