WAL FY 2017 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2017 Earnings

Reported February 26, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$883M	—	$739M	—	19.5%
Op. Income	$452M	—	$361M	—	25.1%
Gross Margin	91.2%	—	93.1%	—	-1.9pp
Net Margin	36.9%	—	35.2%	—	1.7pp
EPS (Diluted)	$3.10	—	$2.50	—	24.0%
Free Cash Flow	$375M	—	$270M	—	38.8%

Revenue Flow

Item	Amount
REVENUE	$883M
Cost of Revenue	$78M
GROSS PROFIT	$805M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$214M
SG&A Expenses	$218M
Other Expenses	$135M
Operating Expenses	$353M
Cost & Expenses	$431M
OPERATING INCOME	$452M
Interest Income	$846M
Interest Expense	$61M
Other Income/Expenses	$0
INCOME BEFORE TAX	$452M
Income Tax Expense	$126M
Net Income from Continuing Ops	$325M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$325M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$325M
D&A	$13M
EBIT	$452M
EBITDA	$465M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$883M
Cost of Revenue	$78M
GROSS PROFIT	$805M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$214M
SG&A Expenses	$218M
Other Expenses	$135M
Operating Expenses	$353M
Cost & Expenses	$431M
OPERATING INCOME	$452M
Interest Income	$846M
Interest Expense	$61M
Other Income/Expenses	$0
INCOME BEFORE TAX	$452M
Income Tax Expense	$126M
Net Income from Continuing Ops	$325M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$325M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$325M
D&A	$13M
EBIT	$452M
EBITDA	$465M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$325M
Depreciation & Amortization	$13M
Stock-Based Compensation	$24M
Deferred Income Tax	$88M
Other Non-Cash Items	$20M
Change in Working Capital	-$87M
OPERATING CASH FLOW	$384M
Capital Expenditure	-$9M
Acquisitions (Net)	-$6M
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$548M
Other Investing Activities	-$1.9B
NET CASH FROM INVESTING	-$3.0B
Net Debt Issuance	$294M
Common Stock Repurchased	-$14M
Common Dividends Paid	$0
Other Financing Activities	$2.4B
NET CASH FROM FINANCING	$2.7B
FREE CASH FLOW	$375M
Net Change in Cash	$132M

Balance Sheet

Item	Amount
Cash & Equivalents	$417M
Short-Term Investments	$3.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.9B
PP&E (Net)	$119M
Goodwill	$290M
Intangible Assets	$11M
Long-Term Investments	$15.7B
Tax Assets	$6M
Other Non-Current Assets	$245M
TOTAL NON-CURRENT ASSETS	$16.4B
TOTAL ASSETS	$20.3B
Account Payables	$0
Short-Term Debt	$416M
Deferred Revenue	$0
Other Current Liabilities	$17.0B
TOTAL CURRENT LIABILITIES	$17.4B
Long-Term Debt	$377M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$334M
TOTAL NON-CURRENT LIABILITIES	$711M
TOTAL LIABILITIES	$18.1B
Common Stock	$10.0K
Additional Paid-In Capital	$1.4B
Retained Earnings	$848M
Treasury Stock	-$40M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$20.3B
Total Debt	$793M
Net Debt	$376M