UBSI FY 2020 Earnings Report — United Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

United Bankshares, Inc.UBSI

FY 2020 Earnings

Reported March 1, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.1B	—	$911M	—	24.9%
Op. Income	$360M	—	$324M	—	10.9%
Gross Margin	81.1%	—	77.4%	—	3.7pp
Net Margin	25.4%	—	28.6%	—	-3.2pp
EPS (Diluted)	$2.40	—	$2.55	—	-5.9%
Free Cash Flow	$121M	—	$141M	—	-13.8%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$215M
GROSS PROFIT	$923M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$334M
SG&A Expenses	$334M
Other Expenses	$229M
Operating Expenses	$563M
Cost & Expenses	$778M
OPERATING INCOME	$360M
Interest Income	$798M
Interest Expense	$109M
Other Income/Expenses	$0
INCOME BEFORE TAX	$360M
Income Tax Expense	$71M
Net Income from Continuing Ops	$289M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$289M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$288M
D&A	-$16M
EBIT	$360M
EBITDA	$343M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$215M
GROSS PROFIT	$923M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$334M
SG&A Expenses	$334M
Other Expenses	$229M
Operating Expenses	$563M
Cost & Expenses	$778M
OPERATING INCOME	$360M
Interest Income	$798M
Interest Expense	$109M
Other Income/Expenses	$0
INCOME BEFORE TAX	$360M
Income Tax Expense	$71M
Net Income from Continuing Ops	$289M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$289M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$288M
D&A	-$16M
EBIT	$360M
EBITDA	$343M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$289M
Depreciation & Amortization	-$16M
Stock-Based Compensation	$6M
Deferred Income Tax	-$174.0K
Other Non-Cash Items	-$177M
Change in Working Capital	$39M
OPERATING CASH FLOW	$140M
Capital Expenditure	-$19M
Acquisitions (Net)	$629M
Purchases of Investments	-$736M
Sales/Maturities of Investments	$859M
Other Investing Activities	-$595M
NET CASH FROM INVESTING	$138M
Net Debt Issuance	-$1.3B
Common Stock Repurchased	-$21M
Common Dividends Paid	-$163M
Other Financing Activities	$2.6B
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	$121M
Net Change in Cash	$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.2B
Short-Term Investments	$3.0B
Net Receivables	$67M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.2B
PP&E (Net)	$245M
Goodwill	$1.8B
Intangible Assets	$21M
Long-Term Investments	$18.3B
Tax Assets	$0
Other Non-Current Assets	$585M
TOTAL NON-CURRENT ASSETS	$21.0B
TOTAL ASSETS	$26.2B
Account Payables	$0
Short-Term Debt	$142M
Deferred Revenue	$0
Other Current Liabilities	$20.6B
TOTAL CURRENT LIABILITIES	$20.9B
Long-Term Debt	$864M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$19M
TOTAL NON-CURRENT LIABILITIES	$957M
TOTAL LIABILITIES	$21.9B
Common Stock	$335M
Additional Paid-In Capital	$2.9B
Retained Earnings	$1.2B
Treasury Stock	-$159M
Accum. Other Comp. Income	$22M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.3B
Minority Interest	$0
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$26.2B
Total Debt	$1.1B
Net Debt	-$1.1B