UBSI FY 2018 Earnings Report — United Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

United Bankshares, Inc.UBSI

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$841M	—	$754M	—	11.6%
Op. Income	$327M	—	$285M	—	14.9%
Gross Margin	82.0%	—	86.3%	—	-4.3pp
Net Margin	30.5%	—	20.0%	—	10.5pp
EPS (Diluted)	$2.46	—	$1.54	—	59.7%
Free Cash Flow	$287M	—	$240M	—	19.7%

Revenue Flow

Item	Amount
REVENUE	$841M
Cost of Revenue	$151M
GROSS PROFIT	$690M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$236M
SG&A Expenses	$236M
Other Expenses	$127M
Operating Expenses	$363M
Cost & Expenses	$514M
OPERATING INCOME	$327M
Interest Income	$718M
Interest Expense	$129M
Other Income/Expenses	$0
INCOME BEFORE TAX	$327M
Income Tax Expense	$71M
Net Income from Continuing Ops	$256M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$256M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$256M
D&A	-$21M
EBIT	$327M
EBITDA	$306M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$841M
Cost of Revenue	$151M
GROSS PROFIT	$690M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$236M
SG&A Expenses	$236M
Other Expenses	$127M
Operating Expenses	$363M
Cost & Expenses	$514M
OPERATING INCOME	$327M
Interest Income	$718M
Interest Expense	$129M
Other Income/Expenses	$0
INCOME BEFORE TAX	$327M
Income Tax Expense	$71M
Net Income from Continuing Ops	$256M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$256M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$256M
D&A	-$21M
EBIT	$327M
EBITDA	$306M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$256M
Depreciation & Amortization	-$21M
Stock-Based Compensation	$4M
Deferred Income Tax	$9M
Other Non-Cash Items	$5M
Change in Working Capital	$41M
OPERATING CASH FLOW	$293M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	-$976M
Sales/Maturities of Investments	$481M
Other Investing Activities	-$372M
NET CASH FROM INVESTING	-$873M
Net Debt Issuance	$195M
Common Stock Repurchased	-$101M
Common Dividends Paid	-$142M
Other Financing Activities	-$19M
NET CASH FROM FINANCING	-$67M
FREE CASH FLOW	$287M
Net Change in Cash	-$646M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$2.3B
Net Receivables	$61M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$95M
Goodwill	$1.5B
Intangible Assets	$0
Long-Term Investments	$13.8B
Tax Assets	$0
Other Non-Current Assets	$458M
TOTAL NON-CURRENT ASSETS	$15.8B
TOTAL ASSETS	$19.3B
Account Payables	$0
Short-Term Debt	$176M
Deferred Revenue	$0
Other Current Liabilities	$14.0B
TOTAL CURRENT LIABILITIES	$14.3B
Long-Term Debt	$1.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$16.0B
Common Stock	$263M
Additional Paid-In Capital	$2.1B
Retained Earnings	$1.0B
Treasury Stock	-$102M
Accum. Other Comp. Income	-$57M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$19.3B
Total Debt	$1.9B
Net Debt	$831M