WAL FY 2022 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

FY 2022 Earnings

Reported February 23, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$3.0B	—	$2.0B	—	47.9%
Op. Income	$1.3B	—	$1.1B	—	17.2%
Gross Margin	81.6%	—	95.9%	—	-14.3pp
Net Margin	35.7%	—	44.9%	—	-9.2pp
EPS (Diluted)	$9.70	—	$8.67	—	11.9%
Free Cash Flow	$2.1B	—	-$2.7B	—	177.3%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$544M
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$540M
SG&A Expenses	$562M
Other Expenses	$540M
Operating Expenses	$1.1B
Cost & Expenses	$1.6B
OPERATING INCOME	$1.3B
Interest Income	$2.7B
Interest Expense	$476M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$259M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$75M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$544M
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$22M
General & Administrative	$540M
SG&A Expenses	$562M
Other Expenses	$540M
Operating Expenses	$1.1B
Cost & Expenses	$1.6B
OPERATING INCOME	$1.3B
Interest Income	$2.7B
Interest Expense	$476M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$259M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$75M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$75M
Stock-Based Compensation	$40M
Deferred Income Tax	-$69M
Other Non-Cash Items	$1.2B
Change in Working Capital	-$39M
OPERATING CASH FLOW	$2.2B
Capital Expenditure	-$141M
Acquisitions (Net)	-$50M
Purchases of Investments	-$3.1B
Sales/Maturities of Investments	$903M
Other Investing Activities	-$10.8B
NET CASH FROM INVESTING	-$13.1B
Net Debt Issuance	$5.4B
Common Stock Repurchased	$0
Common Dividends Paid	-$166M
Other Financing Activities	$6.0B
NET CASH FROM FINANCING	$11.4B
FREE CASH FLOW	$2.1B
Net Change in Cash	$527M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$7.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.1B
PP&E (Net)	$439M
Goodwill	$527M
Intangible Assets	$1.3B
Long-Term Investments	$54.8B
Tax Assets	$311M
Other Non-Current Assets	$2.2B
TOTAL NON-CURRENT ASSETS	$59.6B
TOTAL ASSETS	$67.7B
Account Payables	$0
Short-Term Debt	$5.0B
Deferred Revenue	$0
Other Current Liabilities	$53.6B
TOTAL CURRENT LIABILITIES	$58.6B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$3.7B
TOTAL LIABILITIES	$62.4B
Common Stock	$2.2B
Additional Paid-In Capital	$0
Retained Earnings	$3.7B
Treasury Stock	-$105M
Accum. Other Comp. Income	-$661M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.4B
Minority Interest	$0
TOTAL EQUITY	$5.4B
TOTAL LIABILITIES & EQUITY	$67.7B
Total Debt	$7.4B
Net Debt	$6.3B