TCBI FY 2021 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2021 Earnings

Reported February 9, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$987M	—	$1.2B	—	-16.2%
Op. Income	$338M	—	$92M	—	267.7%
Gross Margin	92.1%	—	62.1%	—	30.0pp
Net Margin	25.7%	—	5.6%	—	20.1pp
EPS (Diluted)	$4.60	—	$1.12	—	310.7%
Free Cash Flow	$653M	—	$2.6B	—	-75.2%

Revenue Flow

Item	Amount
REVENUE	$987M
Cost of Revenue	$78M
GROSS PROFIT	$909M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$371M
SG&A Expenses	$381M
Other Expenses	$190M
Operating Expenses	$571M
Cost & Expenses	$649M
OPERATING INCOME	$338M
Interest Income	$877M
Interest Expense	$108M
Other Income/Expenses	$0
INCOME BEFORE TAX	$338M
Income Tax Expense	$84M
Net Income from Continuing Ops	$254M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$254M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$235M
D&A	$93M
EBIT	$338M
EBITDA	$431M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$987M
Cost of Revenue	$78M
GROSS PROFIT	$909M
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$371M
SG&A Expenses	$381M
Other Expenses	$190M
Operating Expenses	$571M
Cost & Expenses	$649M
OPERATING INCOME	$338M
Interest Income	$877M
Interest Expense	$108M
Other Income/Expenses	$0
INCOME BEFORE TAX	$338M
Income Tax Expense	$84M
Net Income from Continuing Ops	$254M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$254M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$235M
D&A	$93M
EBIT	$338M
EBITDA	$431M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$254M
Depreciation & Amortization	$93M
Stock-Based Compensation	$31M
Deferred Income Tax	-$20M
Other Non-Cash Items	$215M
Change in Working Capital	$84M
OPERATING CASH FLOW	$657M
Capital Expenditure	-$4M
Acquisitions (Net)	$0
Purchases of Investments	-$1.1B
Sales/Maturities of Investments	$570M
Other Investing Activities	$1.7B
NET CASH FROM INVESTING	$1.2B
Net Debt Issuance	-$380M
Common Stock Repurchased	-$150M
Common Dividends Paid	$0
Other Financing Activities	-$2.9B
NET CASH FROM FINANCING	-$3.1B
FREE CASH FLOW	$653M
Net Change in Cash	-$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$7.9B
Short-Term Investments	$3.5B
Net Receivables	$560M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$12.1B
PP&E (Net)	$21M
Goodwill	$15M
Intangible Assets	$2M
Long-Term Investments	$22.6B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$22.7B
TOTAL ASSETS	$34.7B
Account Payables	$8M
Short-Term Debt	$2.2B
Deferred Revenue	$0
Other Current Liabilities	$28.1B
TOTAL CURRENT LIABILITIES	$30.3B
Long-Term Debt	$929M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$273M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$31.5B
Common Stock	$506.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$1.9B
Treasury Stock	-$8.0K
Accum. Other Comp. Income	-$48M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$0
TOTAL EQUITY	$3.2B
TOTAL LIABILITIES & EQUITY	$34.7B
Total Debt	$3.1B
Net Debt	-$4.8B