UBSI FY 2014 Earnings Report — United Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

United Bankshares, Inc.UBSI

FY 2014 Earnings

Reported March 2, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$489M	—	$371M	—	31.7%
Op. Income	$195M	—	$125M	—	55.9%
Gross Margin	86.8%	—	85.0%	—	1.7pp
Net Margin	26.6%	—	23.1%	—	3.5pp
EPS (Diluted)	$1.92	—	$1.70	—	12.9%
Free Cash Flow	$144M	—	$136M	—	5.5%

Revenue Flow

Item	Amount
REVENUE	$489M
Cost of Revenue	$65M
GROSS PROFIT	$424M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$133M
SG&A Expenses	$133M
Other Expenses	$96M
Operating Expenses	$229M
Cost & Expenses	$294M
OPERATING INCOME	$195M
Interest Income	$419M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$195M
Income Tax Expense	$65M
Net Income from Continuing Ops	$130M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$130M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$130M
D&A	$2M
EBIT	$195M
EBITDA	$196M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$489M
Cost of Revenue	$65M
GROSS PROFIT	$424M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$133M
SG&A Expenses	$133M
Other Expenses	$96M
Operating Expenses	$229M
Cost & Expenses	$294M
OPERATING INCOME	$195M
Interest Income	$419M
Interest Expense	$43M
Other Income/Expenses	$0
INCOME BEFORE TAX	$195M
Income Tax Expense	$65M
Net Income from Continuing Ops	$130M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$130M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$130M
D&A	$2M
EBIT	$195M
EBITDA	$196M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$130M
Depreciation & Amortization	$2M
Stock-Based Compensation	$2M
Deferred Income Tax	$10M
Other Non-Cash Items	$14M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$153M
Capital Expenditure	-$9M
Acquisitions (Net)	$97M
Purchases of Investments	-$507M
Sales/Maturities of Investments	$589M
Other Investing Activities	-$383M
NET CASH FROM INVESTING	-$213M
Net Debt Issuance	$353M
Common Stock Repurchased	-$2.0K
Common Dividends Paid	-$82M
Other Financing Activities	$126M
NET CASH FROM FINANCING	$396M
FREE CASH FLOW	$144M
Net Change in Cash	$336M

Balance Sheet

Item	Amount
Cash & Equivalents	$752M
Short-Term Investments	$1.2B
Net Receivables	$32M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$78M
Goodwill	$710M
Intangible Assets	$0
Long-Term Investments	$9.2B
Tax Assets	$0
Other Non-Current Assets	$403M
TOTAL NON-CURRENT ASSETS	$10.4B
TOTAL ASSETS	$12.3B
Account Payables	$0
Short-Term Debt	$488M
Deferred Revenue	$0
Other Current Liabilities	$9.0B
TOTAL CURRENT LIABILITIES	$9.6B
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$10.7B
Common Stock	$173M
Additional Paid-In Capital	$743M
Retained Earnings	$776M
Treasury Stock	-$633.0K
Accum. Other Comp. Income	-$36M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$12.3B
Total Debt	$1.5B
Net Debt	$789M