WAL FY 2020 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2020 Earnings

Reported February 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.3B	—	3.7%
Op. Income	$623M	—	$604M	—	3.0%
Gross Margin	83.6%	—	84.1%	—	-0.5pp
Net Margin	38.0%	—	38.8%	—	-0.8pp
EPS (Diluted)	$5.04	—	$4.84	—	4.1%
Free Cash Flow	$643M	—	$683M	—	-5.7%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$219M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$304M
SG&A Expenses	$313M
Other Expenses	$180M
Operating Expenses	$493M
Cost & Expenses	$712M
OPERATING INCOME	$623M
Interest Income	$1.3B
Interest Expense	$95M
Other Income/Expenses	$0
INCOME BEFORE TAX	$623M
Income Tax Expense	$116M
Net Income from Continuing Ops	$507M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$507M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$507M
D&A	$35M
EBIT	$623M
EBITDA	$657M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$219M
GROSS PROFIT	$1.1B
R&D Expenses	$0
Selling & Marketing	$10M
General & Administrative	$304M
SG&A Expenses	$313M
Other Expenses	$180M
Operating Expenses	$493M
Cost & Expenses	$712M
OPERATING INCOME	$623M
Interest Income	$1.3B
Interest Expense	$95M
Other Income/Expenses	$0
INCOME BEFORE TAX	$623M
Income Tax Expense	$116M
Net Income from Continuing Ops	$507M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$507M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$507M
D&A	$35M
EBIT	$623M
EBITDA	$657M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$507M
Depreciation & Amortization	$35M
Stock-Based Compensation	$29M
Deferred Income Tax	-$25M
Other Non-Cash Items	$140M
Change in Working Capital	-$15M
OPERATING CASH FLOW	$670M
Capital Expenditure	-$27M
Acquisitions (Net)	$0
Purchases of Investments	-$3.3B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$5.9B
NET CASH FROM INVESTING	-$7.5B
Net Debt Issuance	$151M
Common Stock Repurchased	-$72M
Common Dividends Paid	-$101M
Other Financing Activities	$9.1B
NET CASH FROM FINANCING	$9.1B
FREE CASH FLOW	$643M
Net Change in Cash	$2.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.7B
Short-Term Investments	$4.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.4B
PP&E (Net)	$207M
Goodwill	$290M
Intangible Assets	$9M
Long-Term Investments	$27.9B
Tax Assets	$31M
Other Non-Current Assets	$635M
TOTAL NON-CURRENT ASSETS	$29.1B
TOTAL ASSETS	$36.5B
Account Payables	$0
Short-Term Debt	$21M
Deferred Revenue	$0
Other Current Liabilities	$31.9B
TOTAL CURRENT LIABILITIES	$32.0B
Long-Term Debt	$549M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$467M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$33.0B
Common Stock	$0
Additional Paid-In Capital	$1.4B
Retained Earnings	$2.0B
Treasury Stock	-$71M
Accum. Other Comp. Income	$92M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$0
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$36.5B
Total Debt	$650M
Net Debt	-$2.0B