ZION Q4 2018 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

Q4 2018 Earnings

Reported February 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2018	Q3 2018	Q4 2017	QoQ Change	YoY Change
Revenue	$796M	$767M	$702M	3.8%	13.4%
Op. Income	$290M	$292M	$260M	-0.7%	11.5%
Gross Margin	89.1%	92.8%	96.4%	-3.8pp	-7.4pp
Net Margin	28.4%	29.1%	17.5%	-0.7pp	10.9pp
EPS (Diluted)	$1.08	$1.04	$0.54	3.8%	100.0%
Free Cash Flow	$312M	$351M	$89M	-11.1%	250.6%

Revenue Flow

Item	Amount
REVENUE	$796M
Cost of Revenue	$87M
GROSS PROFIT	$709M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$275M
SG&A Expenses	$281M
Other Expenses	$138M
Operating Expenses	$419M
Cost & Expenses	$506M
OPERATING INCOME	$290M
Interest Income	$656M
Interest Expense	$80M
Other Income/Expenses	$0
INCOME BEFORE TAX	$290M
Income Tax Expense	$64M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$215M
D&A	$52M
EBIT	$290M
EBITDA	$342M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$796M
Cost of Revenue	$87M
GROSS PROFIT	$709M
R&D Expenses	$0
Selling & Marketing	$6M
General & Administrative	$275M
SG&A Expenses	$281M
Other Expenses	$138M
Operating Expenses	$419M
Cost & Expenses	$506M
OPERATING INCOME	$290M
Interest Income	$656M
Interest Expense	$80M
Other Income/Expenses	$0
INCOME BEFORE TAX	$290M
Income Tax Expense	$64M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$215M
D&A	$52M
EBIT	$290M
EBITDA	$342M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$226M
Depreciation & Amortization	$52M
Stock-Based Compensation	$4M
Deferred Income Tax	$4M
Other Non-Cash Items	-$2M
Change in Working Capital	$67M
OPERATING CASH FLOW	$351M
Capital Expenditure	-$39M
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$610M
Other Investing Activities	-$958M
NET CASH FROM INVESTING	-$2.0B
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$250M
Common Dividends Paid	-$64M
Other Financing Activities	$315M
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	$312M
Net Change in Cash	$97M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$14.7B
Net Receivables	$327M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$16.3B
PP&E (Net)	$1.1B
Goodwill	$1.0B
Intangible Assets	$1M
Long-Term Investments	$47.1B
Tax Assets	$0
Other Non-Current Assets	$3.2B
TOTAL NON-CURRENT ASSETS	$52.4B
TOTAL ASSETS	$68.7B
Account Payables	$0
Short-Term Debt	$5.7B
Deferred Revenue	$0
Other Current Liabilities	$54.1B
TOTAL CURRENT LIABILITIES	$59.8B
Long-Term Debt	$724M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$690M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$61.2B
Common Stock	$3.8B
Additional Paid-In Capital	$3.8B
Retained Earnings	$3.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$4.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.6B
Minority Interest	$0
TOTAL EQUITY	$7.6B
TOTAL LIABILITIES & EQUITY	$68.7B
Total Debt	$6.4B
Net Debt	$5.1B