ZION Q4 2019 Earnings Report — Zions Bancorporation, National Association Revenue & Financial Results | Market Cap Arena

Zions Bancorporation, National AssociationZION

Q4 2019 Earnings

Reported February 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2019	Q3 2019	Q4 2018	QoQ Change	YoY Change
Revenue	$799M	$823M	$796M	-2.9%	0.4%
Op. Income	$235M	$288M	$290M	-18.4%	-19.0%
Gross Margin	88.5%	85.4%	89.1%	3.1pp	-0.6pp
Net Margin	22.9%	27.0%	28.4%	-4.1pp	-5.5pp
EPS (Diluted)	$0.97	$1.17	$1.08	-17.1%	-10.2%
Free Cash Flow	$328M	$92M	$312M	256.5%	5.1%

Revenue Flow

Item	Amount
REVENUE	$799M
Cost of Revenue	$92M
GROSS PROFIT	$707M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$297M
SG&A Expenses	$299M
Other Expenses	$173M
Operating Expenses	$472M
Cost & Expenses	$564M
OPERATING INCOME	$235M
Interest Income	$647M
Interest Expense	$88M
Other Income/Expenses	$0
INCOME BEFORE TAX	$235M
Income Tax Expense	$52M
Net Income from Continuing Ops	$183M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$183M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$171M
D&A	$45M
EBIT	$235M
EBITDA	$280M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$799M
Cost of Revenue	$92M
GROSS PROFIT	$707M
R&D Expenses	$0
Selling & Marketing	$2M
General & Administrative	$297M
SG&A Expenses	$299M
Other Expenses	$173M
Operating Expenses	$472M
Cost & Expenses	$564M
OPERATING INCOME	$235M
Interest Income	$647M
Interest Expense	$88M
Other Income/Expenses	$0
INCOME BEFORE TAX	$235M
Income Tax Expense	$52M
Net Income from Continuing Ops	$183M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$183M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$171M
D&A	$45M
EBIT	$235M
EBITDA	$280M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$183M
Depreciation & Amortization	$45M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	$9M
Change in Working Capital	$110M
OPERATING CASH FLOW	$351M
Capital Expenditure	-$23M
Acquisitions (Net)	$0
Purchases of Investments	-$607M
Sales/Maturities of Investments	$1.5B
Other Investing Activities	$130M
NET CASH FROM INVESTING	$978M
Net Debt Issuance	-$2.0B
Common Stock Repurchased	-$276M
Common Dividends Paid	-$64M
Other Financing Activities	$945M
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$328M
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