UBSI FY 2017 Earnings Report — United Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

United Bankshares, Inc.UBSI

FY 2017 Earnings

Reported March 1, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$754M	—	$539M	—	39.9%
Op. Income	$285M	—	$223M	—	27.9%
Gross Margin	86.3%	—	87.1%	—	-0.8pp
Net Margin	20.0%	—	27.3%	—	-7.3pp
EPS (Diluted)	$1.54	—	$1.99	—	-22.6%
Free Cash Flow	$240M	—	$163M	—	46.6%

Revenue Flow

Item	Amount
REVENUE	$754M
Cost of Revenue	$103M
GROSS PROFIT	$650M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$229M
SG&A Expenses	$229M
Other Expenses	$136M
Operating Expenses	$366M
Cost & Expenses	$469M
OPERATING INCOME	$285M
Interest Income	$624M
Interest Expense	$75M
Other Income/Expenses	$0
INCOME BEFORE TAX	$285M
Income Tax Expense	$134M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$150M
D&A	-$22M
EBIT	$285M
EBITDA	$263M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$754M
Cost of Revenue	$103M
GROSS PROFIT	$650M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$229M
SG&A Expenses	$229M
Other Expenses	$136M
Operating Expenses	$366M
Cost & Expenses	$469M
OPERATING INCOME	$285M
Interest Income	$624M
Interest Expense	$75M
Other Income/Expenses	$0
INCOME BEFORE TAX	$285M
Income Tax Expense	$134M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$150M
D&A	-$22M
EBIT	$285M
EBITDA	$263M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$151M
Depreciation & Amortization	-$22M
Stock-Based Compensation	$4M
Deferred Income Tax	$61M
Other Non-Cash Items	$41M
Change in Working Capital	$20M
OPERATING CASH FLOW	$254M
Capital Expenditure	-$14M
Acquisitions (Net)	$45M
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$741M
Other Investing Activities	$503M
NET CASH FROM INVESTING	$267M
Net Debt Issuance	-$30M
Common Stock Repurchased	-$1.0K
Common Dividends Paid	-$121M
Other Financing Activities	-$137M
NET CASH FROM FINANCING	-$289M
FREE CASH FLOW	$240M
Net Change in Cash	$232M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.7B
Short-Term Investments	$1.9B
Net Receivables	$53M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$105M
Goodwill	$1.5B
Intangible Assets	$0
Long-Term Investments	$13.4B
Tax Assets	$0
Other Non-Current Assets	$485M
TOTAL NON-CURRENT ASSETS	$15.5B
TOTAL ASSETS	$19.1B
Account Payables	$0
Short-Term Debt	$328M
Deferred Revenue	$0
Other Current Liabilities	$13.8B
TOTAL CURRENT LIABILITIES	$14.3B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$679.0K
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$15.8B
Common Stock	$263M
Additional Paid-In Capital	$2.1B
Retained Earnings	$892M
Treasury Stock	-$1M
Accum. Other Comp. Income	-$42M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$0
TOTAL EQUITY	$3.2B
TOTAL LIABILITIES & EQUITY	$19.1B
Total Debt	$1.8B
Net Debt	$176M