VLY Q4 2016 Earnings Report — Valley National Bancorp Revenue & Financial Results | Market Cap Arena

Valley National BancorpVLY

Q4 2016 Earnings

Reported February 28, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$234M	$216M	—	8.2%	—
Op. Income	$68M	$60M	—	14.3%	—
Gross Margin	82.7%	80.1%	—	2.5pp	—
Net Margin	21.4%	19.8%	—	1.6pp	—
EPS (Diluted)	$0.19	$0.16	—	18.8%	—
Free Cash Flow	$272M	$49M	—	458.5%	—

Revenue Flow

Item	Amount
REVENUE	$234M
Cost of Revenue	$41M
GROSS PROFIT	$193M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$67M
SG&A Expenses	$67M
Other Expenses	$58M
Operating Expenses	$125M
Cost & Expenses	$165M
OPERATING INCOME	$68M
Interest Income	$201M
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$18M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$9M
EBIT	$68M
EBITDA	$77M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$234M
Cost of Revenue	$41M
GROSS PROFIT	$193M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$67M
SG&A Expenses	$67M
Other Expenses	$58M
Operating Expenses	$125M
Cost & Expenses	$165M
OPERATING INCOME	$68M
Interest Income	$201M
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$68M
Income Tax Expense	$18M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$48M
D&A	$9M
EBIT	$68M
EBITDA	$77M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$50M
Depreciation & Amortization	$9M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$181M
Change in Working Capital	$29M
OPERATING CASH FLOW	$272M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$288M
Sales/Maturities of Investments	$152M
Other Investing Activities	-$604M
NET CASH FROM INVESTING	-$740M
Net Debt Issuance	-$373M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$28M
Other Financing Activities	$759M
NET CASH FROM FINANCING	$462M
FREE CASH FLOW	$272M
Net Change in Cash	-$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$393M
Short-Term Investments	$1.3B
Net Receivables	$67M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$291M
Goodwill	$691M
Intangible Assets	$45M
Long-Term Investments	$19.1B
Tax Assets	$0
Other Non-Current Assets	$975M
TOTAL NON-CURRENT ASSETS	$21.1B
TOTAL ASSETS	$22.9B
Account Payables	$0
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$17.7B
TOTAL CURRENT LIABILITIES	$19.2B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$20.5B
Common Stock	$92M
Additional Paid-In Capital	$2.0B
Retained Earnings	$173M
Treasury Stock	-$2M
Accum. Other Comp. Income	-$42M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$0
TOTAL EQUITY	$2.4B
TOTAL LIABILITIES & EQUITY	$22.9B
Total Debt	$2.6B
Net Debt	$2.2B