WAL FY 2014 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2014 Earnings

Reported February 17, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$440M	—	$373M	—	18.1%
Op. Income	$197M	—	$146M	—	35.6%
Gross Margin	91.8%	—	88.5%	—	3.3pp
Net Margin	33.6%	—	30.9%	—	2.8pp
EPS (Diluted)	$1.67	—	$1.31	—	27.5%
Free Cash Flow	$39M	—	$58M	—	-32.7%

Revenue Flow

Item	Amount
REVENUE	$440M
Cost of Revenue	$36M
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$127M
SG&A Expenses	$129M
Other Expenses	$77M
Operating Expenses	$206M
Cost & Expenses	$243M
OPERATING INCOME	$197M
Interest Income	$416M
Interest Expense	$31M
Other Income/Expenses	$0
INCOME BEFORE TAX	$197M
Income Tax Expense	$48M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	-$1M
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$147M
D&A	$1M
EBIT	$197M
EBITDA	$199M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$440M
Cost of Revenue	$36M
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$127M
SG&A Expenses	$129M
Other Expenses	$77M
Operating Expenses	$206M
Cost & Expenses	$243M
OPERATING INCOME	$197M
Interest Income	$416M
Interest Expense	$31M
Other Income/Expenses	$0
INCOME BEFORE TAX	$197M
Income Tax Expense	$48M
Net Income from Continuing Ops	$149M
Net Income from Discontinued Ops	-$1M
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$147M
D&A	$1M
EBIT	$197M
EBITDA	$199M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$148M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$110M
Change in Working Capital	$0
OPERATING CASH FLOW	$38M
Capital Expenditure	$617.0K
Acquisitions (Net)	$0
Purchases of Investments	-$23M
Sales/Maturities of Investments	$11M
Other Investing Activities	$13M
NET CASH FROM INVESTING	$639.0K
Net Debt Issuance	$15M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$34M
FREE CASH FLOW	$39M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$164M
Short-Term Investments	$1.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$114M
Goodwill	$23M
Intangible Assets	$3M
Long-Term Investments	$8.3B
Tax Assets	$63M
Other Non-Current Assets	$417M
TOTAL NON-CURRENT ASSETS	$8.9B
TOTAL ASSETS	$10.6B
Account Payables	$0
Short-Term Debt	$235M
Deferred Revenue	$0
Other Current Liabilities	$8.9B
TOTAL CURRENT LIABILITIES	$9.2B
Long-Term Debt	$251M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$183M
TOTAL NON-CURRENT LIABILITIES	$433M
TOTAL LIABILITIES	$9.6B
Common Stock	$9.0K
Additional Paid-In Capital	$828M
Retained Earnings	$85M
Treasury Stock	$0
Accum. Other Comp. Income	$17M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$10.6B
Total Debt	$486M
Net Debt	$321M