VLY FY 2018 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

FY 2018 Earnings

Reported February 28, 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	$1.3B	—	$946M	—	36.7%
Op. Income	$330M	—	$253M	—	30.4%
Gross Margin	74.1%	—	80.5%	—	-6.4pp
Net Margin	20.2%	—	17.1%	—	3.1pp
EPS (Diluted)	$0.75	—	$0.58	—	29.3%
Free Cash Flow	$304M	—	$619M	—	-50.9%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$335M
GROSS PROFIT	$959M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$362M
SG&A Expenses	$362M
Other Expenses	$267M
Operating Expenses	$629M
Cost & Expenses	$964M
OPERATING INCOME	$330M
Interest Income	$1.2B
Interest Expense	$302M
Other Income/Expenses	$0
INCOME BEFORE TAX	$330M
Income Tax Expense	$68M
Net Income from Continuing Ops	$261M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$261M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$249M
D&A	$46M
EBIT	$330M
EBITDA	$376M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$335M
GROSS PROFIT	$959M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$362M
SG&A Expenses	$362M
Other Expenses	$267M
Operating Expenses	$629M
Cost & Expenses	$964M
OPERATING INCOME	$330M
Interest Income	$1.2B
Interest Expense	$302M
Other Income/Expenses	$0
INCOME BEFORE TAX	$330M
Income Tax Expense	$68M
Net Income from Continuing Ops	$261M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$261M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$249M
D&A	$46M
EBIT	$330M
EBITDA	$376M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$261M
Depreciation & Amortization	$46M
Stock-Based Compensation	$19M
Deferred Income Tax	-$12M
Other Non-Cash Items	$47M
Change in Working Capital	-$59M
OPERATING CASH FLOW	$304M
Capital Expenditure	$0
Acquisitions (Net)	$157M
Purchases of Investments	-$554M
Sales/Maturities of Investments	$540M
Other Investing Activities	-$3.0B
NET CASH FROM INVESTING	-$2.8B
Net Debt Issuance	-$30M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$139M
Other Financing Activities	$2.7B
NET CASH FROM FINANCING	$2.5B
FREE CASH FLOW	$304M
Net Change in Cash	$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$429M
Short-Term Investments	$1.7B
Net Receivables	$95M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.3B
PP&E (Net)	$342M
Goodwill	$1.1B
Intangible Assets	$77M
Long-Term Investments	$27.0B
Tax Assets	$0
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$29.6B
TOTAL ASSETS	$31.9B
Account Payables	$0
Short-Term Debt	$2.2B
Deferred Revenue	$0
Other Current Liabilities	$24.5B
TOTAL CURRENT LIABILITIES	$26.8B
Long-Term Debt	$1.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$28.5B
Common Stock	$116M
Additional Paid-In Capital	$2.8B
Retained Earnings	$300M
Treasury Stock	-$2M
Accum. Other Comp. Income	-$69M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$0
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$31.9B
Total Debt	$3.8B
Net Debt	$3.4B