UBSI FY 2022 Earnings Report — United Bankshares, Inc. Revenue & Financial Results | Market Cap Arena

United Bankshares, Inc.UBSI

FY 2022 Earnings

Reported March 1, 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	$1.1B	—	$1.1B	—	8.1%
Op. Income	$476M	—	$463M	—	2.8%
Gross Margin	89.1%	—	97.3%	—	-8.2pp
Net Margin	33.1%	—	34.7%	—	-1.6pp
EPS (Diluted)	$2.80	—	$2.83	—	-1.1%
Free Cash Flow	$744M	—	$594M	—	25.2%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$124M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$300M
SG&A Expenses	$300M
Other Expenses	$245M
Operating Expenses	$545M
Cost & Expenses	$670M
OPERATING INCOME	$476M
Interest Income	$1.0B
Interest Expense	$106M
Other Income/Expenses	$0
INCOME BEFORE TAX	$476M
Income Tax Expense	$96M
Net Income from Continuing Ops	$380M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$380M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$380M
D&A	$24M
EBIT	$476M
EBITDA	$499M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$124M
GROSS PROFIT	$1.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$300M
SG&A Expenses	$300M
Other Expenses	$245M
Operating Expenses	$545M
Cost & Expenses	$670M
OPERATING INCOME	$476M
Interest Income	$1.0B
Interest Expense	$106M
Other Income/Expenses	$0
INCOME BEFORE TAX	$476M
Income Tax Expense	$96M
Net Income from Continuing Ops	$380M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$380M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$380M
D&A	$24M
EBIT	$476M
EBITDA	$499M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$380M
Depreciation & Amortization	$24M
Stock-Based Compensation	$10M
Deferred Income Tax	$7M
Other Non-Cash Items	$310M
Change in Working Capital	$31M
OPERATING CASH FLOW	$761M
Capital Expenditure	-$17M
Acquisitions (Net)	$0
Purchases of Investments	-$1.7B
Sales/Maturities of Investments	$587M
Other Investing Activities	-$2.3B
NET CASH FROM INVESTING	-$3.4B
Net Debt Issuance	$1.4B
Common Stock Repurchased	-$79M
Common Dividends Paid	-$193M
Other Financing Activities	-$1.0B
NET CASH FROM FINANCING	$105M
FREE CASH FLOW	$744M
Net Change in Cash	-$2.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$4.5B
Net Receivables	$95M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.8B
PP&E (Net)	$270M
Goodwill	$1.9B
Intangible Assets	$21M
Long-Term Investments	$20.7B
Tax Assets	$0
Other Non-Current Assets	$786M
TOTAL NON-CURRENT ASSETS	$23.7B
TOTAL ASSETS	$29.5B
Account Payables	$0
Short-Term Debt	$161M
Deferred Revenue	$0
Other Current Liabilities	$22.3B
TOTAL CURRENT LIABILITIES	$22.7B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$46M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$25.0B
Common Stock	$355M
Additional Paid-In Capital	$3.2B
Retained Earnings	$1.6B
Treasury Stock	-$250M
Accum. Other Comp. Income	-$333M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.5B
Minority Interest	$0
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$29.5B
Total Debt	$2.4B
Net Debt	$1.3B