WAL Q4 2020 Earnings Report — Western Alliance Bancorporation Revenue & Financial Results | Market Cap Arena

Western Alliance BancorporationWAL

Q4 2020 Earnings

Reported February 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2020	Q3 2020	Q4 2019	QoQ Change	YoY Change
Revenue	$353M	$323M	$328M	9.3%	7.7%
Op. Income	$241M	$167M	$154M	44.4%	55.9%
Gross Margin	104.9%	89.3%	85.5%	15.7pp	19.4pp
Net Margin	54.8%	42.0%	39.1%	12.8pp	15.8pp
EPS (Diluted)	$1.93	$1.36	$1.25	41.9%	54.4%
Free Cash Flow	$226M	$153M	$163M	47.6%	38.5%

Revenue Flow

Item	Amount
REVENUE	$353M
Cost of Revenue	-$17M
GROSS PROFIT	$371M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$83M
SG&A Expenses	$85M
Other Expenses	$45M
Operating Expenses	$130M
Cost & Expenses	$113M
OPERATING INCOME	$241M
Interest Income	$332M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$241M
Income Tax Expense	$47M
Net Income from Continuing Ops	$194M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$194M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$194M
D&A	$9M
EBIT	$241M
EBITDA	$249M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$353M
Cost of Revenue	-$17M
GROSS PROFIT	$371M
R&D Expenses	$0
Selling & Marketing	$1M
General & Administrative	$83M
SG&A Expenses	$85M
Other Expenses	$45M
Operating Expenses	$130M
Cost & Expenses	$113M
OPERATING INCOME	$241M
Interest Income	$332M
Interest Expense	$17M
Other Income/Expenses	$0
INCOME BEFORE TAX	$241M
Income Tax Expense	$47M
Net Income from Continuing Ops	$194M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$194M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$194M
D&A	$9M
EBIT	$241M
EBITDA	$249M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$194M
Depreciation & Amortization	$9M
Stock-Based Compensation	$7M
Deferred Income Tax	$12M
Other Non-Cash Items	-$32M
Change in Working Capital	$30M
OPERATING CASH FLOW	$220M
Capital Expenditure	$6M
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$501M
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	-$84M
Common Stock Repurchased	$69.0K
Common Dividends Paid	-$25M
Other Financing Activities	$3.1B
NET CASH FROM FINANCING	$3.0B
FREE CASH FLOW	$226M
Net Change in Cash	$1.3B

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