VLY FY 2019 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

FY 2019 Earnings

Reported March 10, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.5B	—	$1.3B	—	18.7%
Op. Income	$457M	—	$330M	—	38.6%
Gross Margin	70.9%	—	74.1%	—	-3.3pp
Net Margin	20.2%	—	20.2%	—	-0.0pp
EPS (Diluted)	$0.87	—	$0.75	—	16.0%
Free Cash Flow	$262M	—	$304M	—	-13.8%

Revenue Flow

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$447M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$344M
SG&A Expenses	$344M
Other Expenses	$287M
Operating Expenses	$632M
Cost & Expenses	$1.1B
OPERATING INCOME	$457M
Interest Income	$1.3B
Interest Expense	$423M
Other Income/Expenses	$0
INCOME BEFORE TAX	$457M
Income Tax Expense	$147M
Net Income from Continuing Ops	$310M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$310M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$297M
D&A	$71M
EBIT	$457M
EBITDA	$528M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.5B
Cost of Revenue	$447M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$344M
SG&A Expenses	$344M
Other Expenses	$287M
Operating Expenses	$632M
Cost & Expenses	$1.1B
OPERATING INCOME	$457M
Interest Income	$1.3B
Interest Expense	$423M
Other Income/Expenses	$0
INCOME BEFORE TAX	$457M
Income Tax Expense	$147M
Net Income from Continuing Ops	$310M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$310M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$297M
D&A	$71M
EBIT	$457M
EBITDA	$528M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$310M
Depreciation & Amortization	$71M
Stock-Based Compensation	$15M
Deferred Income Tax	$15M
Other Non-Cash Items	-$37M
Change in Working Capital	-$112M
OPERATING CASH FLOW	$262M
Capital Expenditure	$0
Acquisitions (Net)	$22M
Purchases of Investments	-$747M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$897M
Net Debt Issuance	-$1.0B
Common Stock Repurchased	-$2M
Common Dividends Paid	-$147M
Other Financing Activities	$1.8B
NET CASH FROM FINANCING	$641M
FREE CASH FLOW	$262M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$435M
Short-Term Investments	$1.6B
Net Receivables	$106M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$620M
Goodwill	$1.4B
Intangible Assets	$87M
Long-Term Investments	$32.0B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$35.3B
TOTAL ASSETS	$37.4B
Account Payables	$0
Short-Term Debt	$1.4B
Deferred Revenue	$0
Other Current Liabilities	$29.2B
TOTAL CURRENT LIABILITIES	$30.9B
Long-Term Debt	$1.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$33.1B
Common Stock	$141M
Additional Paid-In Capital	$3.6B
Retained Earnings	$444M
Treasury Stock	-$479.0K
Accum. Other Comp. Income	-$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$0
TOTAL EQUITY	$4.4B
TOTAL LIABILITIES & EQUITY	$37.4B
Total Debt	$3.6B
Net Debt	$3.1B