WAL FY 2021 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$2.0B	—	$1.3B	—	50.1%
Op. Income	$1.1B	—	$623M	—	80.4%
Gross Margin	95.9%	—	83.6%	—	12.3pp
Net Margin	44.9%	—	38.0%	—	6.9pp
EPS (Diluted)	$8.67	—	$5.04	—	72.0%
Free Cash Flow	-$2.7B	—	$643M	—	-523.3%

Revenue Flow

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$81M
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$467M
SG&A Expenses	$480M
Other Expenses	$318M
Operating Expenses	$798M
Cost & Expenses	$879M
OPERATING INCOME	$1.1B
Interest Income	$1.7B
Interest Expense	$110M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$224M
Net Income from Continuing Ops	$899M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$899M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$896M
D&A	$50M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$81M
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$467M
SG&A Expenses	$480M
Other Expenses	$318M
Operating Expenses	$798M
Cost & Expenses	$879M
OPERATING INCOME	$1.1B
Interest Income	$1.7B
Interest Expense	$110M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$224M
Net Income from Continuing Ops	$899M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$899M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$896M
D&A	$50M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$899M
Depreciation & Amortization	$50M
Stock-Based Compensation	$35M
Deferred Income Tax	$42M
Other Non-Cash Items	-$3.5B
Change in Working Capital	-$158M
OPERATING CASH FLOW	-$2.7B
Capital Expenditure	-$69M
Acquisitions (Net)	-$1.0B
Purchases of Investments	-$4.0B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	-$11.5B
NET CASH FROM INVESTING	-$14.7B
Net Debt Issuance	-$1.2B
Common Stock Repurchased	$0
Common Dividends Paid	-$128M
Other Financing Activities	$15.7B
NET CASH FROM FINANCING	$15.2B
FREE CASH FLOW	-$2.7B
Net Change in Cash	-$2.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$516M
Short-Term Investments	$6.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6.7B
PP&E (Net)	$315M
Goodwill	$491M
Intangible Assets	$841M
Long-Term Investments	$46.4B
Tax Assets	$21M
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$49.3B
TOTAL ASSETS	$56.0B
Account Payables	$0
Short-Term Debt	$727M
Deferred Revenue	$0
Other Current Liabilities	$47.6B
TOTAL CURRENT LIABILITIES	$48.3B
Long-Term Debt	$1.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$867M
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$51.0B
Common Stock	$2.0B
Additional Paid-In Capital	$0
Retained Earnings	$2.8B
Treasury Stock	-$87M
Accum. Other Comp. Income	$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.0B
Minority Interest	$0
TOTAL EQUITY	$5.0B
TOTAL LIABILITIES & EQUITY	$56.0B
Total Debt	$2.5B
Net Debt	$2.0B