VLY FY 2022 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

FY 2022 Earnings

Reported February 28, 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	$2.2B	—	$1.5B	—	46.6%
Op. Income	$781M	—	$641M	—	21.8%
Gross Margin	82.7%	—	89.4%	—	-6.7pp
Net Margin	26.1%	—	31.8%	—	-5.8pp
EPS (Diluted)	$1.14	—	$1.12	—	1.8%
Free Cash Flow	$1.4B	—	$837M	—	70.6%

Revenue Flow

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$377M
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$550M
SG&A Expenses	$550M
Other Expenses	$475M
Operating Expenses	$1.0B
Cost & Expenses	$1.4B
OPERATING INCOME	$781M
Interest Income	$2.0B
Interest Expense	$321M
Other Income/Expenses	$0
INCOME BEFORE TAX	$781M
Income Tax Expense	$212M
Net Income from Continuing Ops	$569M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$569M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$556M
D&A	$79M
EBIT	$781M
EBITDA	$860M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$377M
GROSS PROFIT	$1.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$550M
SG&A Expenses	$550M
Other Expenses	$475M
Operating Expenses	$1.0B
Cost & Expenses	$1.4B
OPERATING INCOME	$781M
Interest Income	$2.0B
Interest Expense	$321M
Other Income/Expenses	$0
INCOME BEFORE TAX	$781M
Income Tax Expense	$212M
Net Income from Continuing Ops	$569M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$569M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$556M
D&A	$79M
EBIT	$781M
EBITDA	$860M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$569M
Depreciation & Amortization	$79M
Stock-Based Compensation	$29M
Deferred Income Tax	$7M
Other Non-Cash Items	$183M
Change in Working Capital	$561M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	$0
Acquisitions (Net)	$322M
Purchases of Investments	-$904M
Sales/Maturities of Investments	$717M
Other Investing Activities	-$6.9B
NET CASH FROM INVESTING	-$6.8B
Net Debt Issuance	-$473M
Common Stock Repurchased	-$24M
Common Dividends Paid	-$206M
Other Financing Activities	$5.0B
NET CASH FROM FINANCING	$4.3B
FREE CASH FLOW	$1.4B
Net Change in Cash	-$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$948M
Short-Term Investments	$1.3B
Net Receivables	$197M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$665M
Goodwill	$1.9B
Intangible Assets	$197M
Long-Term Investments	$50.4B
Tax Assets	$0
Other Non-Current Assets	$2.0B
TOTAL NON-CURRENT ASSETS	$55.1B
TOTAL ASSETS	$57.5B
Account Payables	$0
Short-Term Debt	$139M
Deferred Revenue	$0
Other Current Liabilities	$47.6B
TOTAL CURRENT LIABILITIES	$49.1B
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.0B
TOTAL LIABILITIES	$51.1B
Common Stock	$178M
Additional Paid-In Capital	$5.0B
Retained Earnings	$1.2B
Treasury Stock	-$22M
Accum. Other Comp. Income	-$164M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.4B
Minority Interest	$0
TOTAL EQUITY	$6.4B
TOTAL LIABILITIES & EQUITY	$57.5B
Total Debt	$2.1B
Net Debt	$1.1B