WAL FY 2019 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2019 Earnings

Reported March 2, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.1B	—	20.5%
Op. Income	$604M	—	$510M	—	18.4%
Gross Margin	84.1%	—	86.6%	—	-2.5pp
Net Margin	38.8%	—	40.8%	—	-2.0pp
EPS (Diluted)	$4.84	—	$4.14	—	16.9%
Free Cash Flow	$683M	—	$539M	—	26.6%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$204M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$279M
SG&A Expenses	$291M
Other Expenses	$188M
Operating Expenses	$478M
Cost & Expenses	$682M
OPERATING INCOME	$604M
Interest Income	$1.2B
Interest Expense	$185M
Other Income/Expenses	$0
INCOME BEFORE TAX	$604M
Income Tax Expense	$105M
Net Income from Continuing Ops	$499M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$499M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$499M
D&A	$29M
EBIT	$604M
EBITDA	$633M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$204M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$11M
General & Administrative	$279M
SG&A Expenses	$291M
Other Expenses	$188M
Operating Expenses	$478M
Cost & Expenses	$682M
OPERATING INCOME	$604M
Interest Income	$1.2B
Interest Expense	$185M
Other Income/Expenses	$0
INCOME BEFORE TAX	$604M
Income Tax Expense	$105M
Net Income from Continuing Ops	$499M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$499M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$499M
D&A	$29M
EBIT	$604M
EBITDA	$633M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$499M
Depreciation & Amortization	$29M
Stock-Based Compensation	$26M
Deferred Income Tax	-$5M
Other Non-Cash Items	$30M
Change in Working Capital	$138M
OPERATING CASH FLOW	$718M
Capital Expenditure	-$34M
Acquisitions (Net)	$0
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$982M
Other Investing Activities	-$3.4B
NET CASH FROM INVESTING	-$3.7B
Net Debt Issuance	-$497M
Common Stock Repurchased	-$120M
Common Dividends Paid	-$51M
Other Financing Activities	$3.6B
NET CASH FROM FINANCING	$2.9B
FREE CASH FLOW	$683M
Net Change in Cash	-$64M

Balance Sheet

Item	Amount
Cash & Equivalents	$435M
Short-Term Investments	$3.3B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.8B
PP&E (Net)	$198M
Goodwill	$290M
Intangible Assets	$8M
Long-Term Investments	$22.4B
Tax Assets	$18M
Other Non-Current Assets	$129M
TOTAL NON-CURRENT ASSETS	$23.0B
TOTAL ASSETS	$26.8B
Account Payables	$0
Short-Term Debt	$17M
Deferred Revenue	$0
Other Current Liabilities	$22.8B
TOTAL CURRENT LIABILITIES	$22.8B
Long-Term Debt	$394M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$520M
TOTAL NON-CURRENT LIABILITIES	$992M
TOTAL LIABILITIES	$23.8B
Common Stock	$1.4B
Additional Paid-In Capital	$1.4B
Retained Earnings	$1.7B
Treasury Stock	-$63M
Accum. Other Comp. Income	-$1.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$26.8B
Total Debt	$488M
Net Debt	$54M