ZION FY 2019 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

FY 2019 Earnings

Reported February 25, 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	$3.2B	—	$3.0B	—	7.0%
Op. Income	$1.1B	—	$1.1B	—	-7.9%
Gross Margin	86.1%	—	93.0%	—	-6.9pp
Net Margin	25.1%	—	29.1%	—	-4.0pp
EPS (Diluted)	$4.16	—	$4.08	—	2.0%
Free Cash Flow	$580M	—	$1.0B	—	-44.6%

Revenue Flow

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$450M
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$19M
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$572M
Operating Expenses	$1.7B
Cost & Expenses	$2.2B
OPERATING INCOME	$1.1B
Interest Income	$2.7B
Interest Expense	$411M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$237M
Net Income from Continuing Ops	$816M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$816M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$776M
D&A	$188M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$450M
GROSS PROFIT	$2.8B
R&D Expenses	$0
Selling & Marketing	$19M
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$572M
Operating Expenses	$1.7B
Cost & Expenses	$2.2B
OPERATING INCOME	$1.1B
Interest Income	$2.7B
Interest Expense	$411M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$237M
Net Income from Continuing Ops	$816M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$816M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$776M
D&A	$188M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$816M
Depreciation & Amortization	$188M
Stock-Based Compensation	$27M
Deferred Income Tax	-$2M
Other Non-Cash Items	$21M
Change in Working Capital	-$353M
OPERATING CASH FLOW	$697M
Capital Expenditure	-$117M
Acquisitions (Net)	$0
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$4.5B
Other Investing Activities	-$2.0B
NET CASH FROM INVESTING	$375M
Net Debt Issuance	-$2.6B
Common Stock Repurchased	-$1.1B
Common Dividends Paid	-$260M
Other Financing Activities	$3.0B
NET CASH FROM FINANCING	-$981M
FREE CASH FLOW	$580M
Net Change in Cash	$91M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$13.7B
Net Receivables	$334M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$15.5B
PP&E (Net)	$1.1B
Goodwill	$1.0B
Intangible Assets	$0
Long-Term Investments	$48.9B
Tax Assets	$0
Other Non-Current Assets	$2.6B
TOTAL NON-CURRENT ASSETS	$53.7B
TOTAL ASSETS	$69.2B
Account Payables	$0
Short-Term Debt	$2.1B
Deferred Revenue	$0
Other Current Liabilities	$57.1B
TOTAL CURRENT LIABILITIES	$59.1B
Long-Term Debt	$1.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$958M
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$61.8B
Common Stock	$2.7B
Additional Paid-In Capital	$0
Retained Earnings	$4.0B
Treasury Stock	$0
Accum. Other Comp. Income	$43M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.4B
Minority Interest	$0
TOTAL EQUITY	$7.4B
TOTAL LIABILITIES & EQUITY	$69.2B
Total Debt	$3.8B
Net Debt	$2.3B