TCBI FY 2022 Earnings Report — Texas Capital Bancshares, Inc. Revenue & Financial Results | Market Cap Arena

Texas Capital Bancshares, Inc.TCBI

FY 2022 Earnings

Reported February 9, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.2B	—	$987M	—	26.2%
Op. Income	$432M	—	$338M	—	27.7%
Gross Margin	73.1%	—	92.1%	—	-19.0pp
Net Margin	26.7%	—	25.7%	—	1.0pp
EPS (Diluted)	$6.18	—	$4.60	—	34.3%
Free Cash Flow	$137M	—	$653M	—	-79.1%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$334M
GROSS PROFIT	$911M
R&D Expenses	$0
Selling & Marketing	$32M
General & Administrative	$451M
SG&A Expenses	$484M
Other Expenses	-$5M
Operating Expenses	$479M
Cost & Expenses	$813M
OPERATING INCOME	$432M
Interest Income	$1.1B
Interest Expense	$268M
Other Income/Expenses	$0
INCOME BEFORE TAX	$432M
Income Tax Expense	$99M
Net Income from Continuing Ops	$332M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$332M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$315M
D&A	$45M
EBIT	$432M
EBITDA	$477M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$334M
GROSS PROFIT	$911M
R&D Expenses	$0
Selling & Marketing	$32M
General & Administrative	$451M
SG&A Expenses	$484M
Other Expenses	-$5M
Operating Expenses	$479M
Cost & Expenses	$813M
OPERATING INCOME	$432M
Interest Income	$1.1B
Interest Expense	$268M
Other Income/Expenses	$0
INCOME BEFORE TAX	$432M
Income Tax Expense	$99M
Net Income from Continuing Ops	$332M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$332M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$315M
D&A	$45M
EBIT	$432M
EBITDA	$477M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$332M
Depreciation & Amortization	$45M
Stock-Based Compensation	$21M
Deferred Income Tax	-$17M
Other Non-Cash Items	-$211M
Change in Working Capital	-$23M
OPERATING CASH FLOW	$148M
Capital Expenditure	-$11M
Acquisitions (Net)	$3.3B
Purchases of Investments	-$920M
Sales/Maturities of Investments	$532M
Other Investing Activities	$384M
NET CASH FROM INVESTING	$3.3B
Net Debt Issuance	-$1.0B
Common Stock Repurchased	-$115M
Common Dividends Paid	$0
Other Financing Activities	-$5.3B
NET CASH FROM FINANCING	-$6.4B
FREE CASH FLOW	$137M
Net Change in Cash	-$2.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$5.0B
Short-Term Investments	$2.6B
Net Receivables	$719M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.3B
PP&E (Net)	$26M
Goodwill	$1M
Intangible Assets	$0
Long-Term Investments	$20.0B
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$20.1B
TOTAL ASSETS	$28.4B
Account Payables	$24M
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$22.9B
TOTAL CURRENT LIABILITIES	$24.1B
Long-Term Debt	$931M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$346M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$25.4B
Common Stock	$509.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$2.3B
Treasury Stock	-$115M
Accum. Other Comp. Income	-$419M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.1B
Minority Interest	$0
TOTAL EQUITY	$3.1B
TOTAL LIABILITIES & EQUITY	$28.4B
Total Debt	$2.1B
Net Debt	-$2.9B