VLY FY 2020 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

FY 2020 Earnings

Reported February 26, 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	$1.6B	—	$1.5B	—	2.0%
Op. Income	$530M	—	$457M	—	16.0%
Gross Margin	75.1%	—	70.9%	—	4.2pp
Net Margin	24.9%	—	20.2%	—	4.8pp
EPS (Diluted)	$0.93	—	$0.87	—	6.9%
Free Cash Flow	$164M	—	$262M	—	-37.6%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$390M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$350M
SG&A Expenses	$350M
Other Expenses	$296M
Operating Expenses	$646M
Cost & Expenses	$1.0B
OPERATING INCOME	$530M
Interest Income	$1.4B
Interest Expense	$265M
Other Income/Expenses	$0
INCOME BEFORE TAX	$530M
Income Tax Expense	$139M
Net Income from Continuing Ops	$391M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$391M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$378M
D&A	$82M
EBIT	$530M
EBITDA	$612M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$390M
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$350M
SG&A Expenses	$350M
Other Expenses	$296M
Operating Expenses	$646M
Cost & Expenses	$1.0B
OPERATING INCOME	$530M
Interest Income	$1.4B
Interest Expense	$265M
Other Income/Expenses	$0
INCOME BEFORE TAX	$530M
Income Tax Expense	$139M
Net Income from Continuing Ops	$391M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$391M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$378M
D&A	$82M
EBIT	$530M
EBITDA	$612M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$391M
Depreciation & Amortization	$82M
Stock-Based Compensation	$16M
Deferred Income Tax	-$5M
Other Non-Cash Items	-$56M
Change in Working Capital	-$264M
OPERATING CASH FLOW	$164M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$1.4B
Other Investing Activities	-$2.5B
NET CASH FROM INVESTING	-$2.0B
Net Debt Issuance	$213M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$178M
Other Financing Activities	$2.7B
NET CASH FROM FINANCING	$2.8B
FREE CASH FLOW	$164M
Net Change in Cash	$895M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$1.3B
Net Receivables	$106M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$572M
Goodwill	$1.4B
Intangible Assets	$70M
Long-Term Investments	$34.4B
Tax Assets	$0
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$37.9B
TOTAL ASSETS	$40.7B
Account Payables	$0
Short-Term Debt	$1.4B
Deferred Revenue	$0
Other Current Liabilities	$31.9B
TOTAL CURRENT LIABILITIES	$33.8B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$36.1B
Common Stock	$142M
Additional Paid-In Capital	$3.6B
Retained Earnings	$611M
Treasury Stock	-$225.0K
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.6B
Minority Interest	$0
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$40.7B
Total Debt	$3.8B
Net Debt	$2.4B