UMBF FY 2023 Earnings Report — UMB Financial Corporation Revenue & Financial Results | Market Cap Arena

UMB Financial CorporationUMBF

FY 2023 Earnings

Reported February 22, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.2B	—	$1.6B	—	41.8%
Op. Income	$422M	—	$532M	—	-20.8%
Gross Margin	57.2%	—	83.5%	—	-26.2pp
Net Margin	15.6%	—	27.3%	—	-11.7pp
EPS (Diluted)	$7.18	—	$8.86	—	-19.0%
Free Cash Flow	$446M	—	$718M	—	-37.9%

Revenue Flow

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$960M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$553M
SG&A Expenses	$579M
Other Expenses	$284M
Operating Expenses	$863M
Cost & Expenses	$1.8B
OPERATING INCOME	$422M
Interest Income	$1.8B
Interest Expense	$919M
Other Income/Expenses	$0
INCOME BEFORE TAX	$422M
Income Tax Expense	$72M
Net Income from Continuing Ops	$350M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$350M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$350M
D&A	$59M
EBIT	$422M
EBITDA	$480M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$960M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$26M
General & Administrative	$553M
SG&A Expenses	$579M
Other Expenses	$284M
Operating Expenses	$863M
Cost & Expenses	$1.8B
OPERATING INCOME	$422M
Interest Income	$1.8B
Interest Expense	$919M
Other Income/Expenses	$0
INCOME BEFORE TAX	$422M
Income Tax Expense	$72M
Net Income from Continuing Ops	$350M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$350M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$350M
D&A	$59M
EBIT	$422M
EBITDA	$480M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$350M
Depreciation & Amortization	$59M
Stock-Based Compensation	$19M
Deferred Income Tax	-$20M
Other Non-Cash Items	$81M
Change in Working Capital	-$16M
OPERATING CASH FLOW	$473M
Capital Expenditure	-$27M
Acquisitions (Net)	-$793.0K
Purchases of Investments	-$1.8B
Sales/Maturities of Investments	$2.0B
Other Investing Activities	-$1.4B
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$1.8B
Common Stock Repurchased	-$8M
Common Dividends Paid	-$74M
Other Financing Activities	$3.1B
NET CASH FROM FINANCING	$4.8B
FREE CASH FLOW	$446M
Net Change in Cash	$4.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$5.6B
Short-Term Investments	$7.1B
Net Receivables	$520M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$13.2B
PP&E (Net)	$211M
Goodwill	$207M
Intangible Assets	$101M
Long-Term Investments	$28.8B
Tax Assets	$0
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$30.8B
TOTAL ASSETS	$44.0B
Account Payables	$0
Short-Term Debt	$3.1B
Deferred Revenue	$0
Other Current Liabilities	$35.8B
TOTAL CURRENT LIABILITIES	$39.3B
Long-Term Debt	$383M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$40.9B
Common Stock	$55M
Additional Paid-In Capital	$1.1B
Retained Earnings	$2.8B
Treasury Stock	-$343M
Accum. Other Comp. Income	-$557M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.1B
Minority Interest	$0
TOTAL EQUITY	$3.1B
TOTAL LIABILITIES & EQUITY	$44.0B
Total Debt	$3.5B
Net Debt	-$2.1B