ZION FY 2025 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

FY 2025 Earnings

Reported February 24, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$4.9B	—	$5.0B	—	-1.0%
Op. Income	$1.2B	—	$1.0B	—	16.1%
Gross Margin	67.1%	—	61.2%	—	5.8pp
Net Margin	18.2%	—	15.7%	—	2.5pp
EPS (Diluted)	$6.01	—	$4.95	—	21.4%
Free Cash Flow	$981M	—	$1.1B	—	-6.7%

Revenue Flow

Item	Amount
REVENUE	$4.9B
Cost of Revenue	$1.6B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.5B
SG&A Expenses	$1.5B
Other Expenses	$624M
Operating Expenses	$2.1B
Cost & Expenses	$3.8B
OPERATING INCOME	$1.2B
Interest Income	$4.2B
Interest Expense	$1.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$276M
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	$895M
D&A	$116M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$4.9B
Cost of Revenue	$1.6B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.5B
SG&A Expenses	$1.5B
Other Expenses	$624M
Operating Expenses	$2.1B
Cost & Expenses	$3.8B
OPERATING INCOME	$1.2B
Interest Income	$4.2B
Interest Expense	$1.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$276M
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	$895M
D&A	$116M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$899M
Depreciation & Amortization	$116M
Stock-Based Compensation	$35M
Deferred Income Tax	$47M
Other Non-Cash Items	$29M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$121M
Acquisitions (Net)	$191M
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$3.3B
Other Investing Activities	-$1.3B
NET CASH FROM INVESTING	$709M
Net Debt Issuance	-$230M
Common Stock Repurchased	-$41M
Common Dividends Paid	-$263M
Other Financing Activities	-$1.2B
NET CASH FROM FINANCING	-$1.8B
FREE CASH FLOW	$981M
Net Change in Cash	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$2.9B
Short-Term Investments	$9.3B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$12.2B
PP&E (Net)	$1.4B
Goodwill	$1.1B
Intangible Assets	$31M
Long-Term Investments	$69.3B
Tax Assets	$0
Other Non-Current Assets	$5.0B
TOTAL NON-CURRENT ASSETS	$76.8B
TOTAL ASSETS	$89.0B
Account Payables	$0
Short-Term Debt	$2.9B
Deferred Revenue	$0
Other Current Liabilities	$75.6B
TOTAL CURRENT LIABILITIES	$78.5B
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.8B
TOTAL NON-CURRENT LIABILITIES	$3.3B
TOTAL LIABILITIES	$81.8B
Common Stock	$1.7B
Additional Paid-In Capital	$0
Retained Earnings	$7.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.9B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.2B
Minority Interest	$0
TOTAL EQUITY	$7.2B
TOTAL LIABILITIES & EQUITY	$89.0B
Total Debt	$4.3B
Net Debt	$1.5B