BankUnited Financials

$4.2 B

Mkt cap, 20-Apr-2018
Net income (FY, 2017)614.3 M
EBIT (FY, 2017)881.5 M
Cash, 31-Dec-2017194.6 M
EV8.8 B

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

738.8 m783.7 m880.8 m1.1 b

Revenue growth, %

6%12%20%

Cost of goods sold

135.2 m188.8 m254.2 m

Gross profit

745.7 m870.4 m

Gross profit Margin, %

85%82%

Sales and marketing expense

223 m237.8 m

General and administrative expense

76 m75.4 m

Operating expense total

299 m635 m

EBIT

318 m293.3 m296.9 m819.5 m881.5 m

EBIT margin, %

43%37%34%77%

Pre tax profit

296.9 m335.4 m404.5 m

Income tax expense

45.2 m109.7 m(209.8 m)

Net Income

208.9 m204.2 m251.7 m225.7 m614.3 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

233.7 m255.1 m274 m289.3 m295.1 m311.7 m328.7 m

Cost of goods sold

31.7 m34.9 m44 m46.2 m48.2 m52.9 m59.2 m

Gross profit

202 m220.1 m230 m243.2 m246.8 m258.7 m269.5 m

Gross profit Margin, %

86%86%84%84%84%83%82%

Sales and marketing expense

51.8 m55.3 m55.5 m55.8 m55.2 m59.7 m60.4 m

General and administrative expense

18.9 m19.1 m19 m18.8 m18.5 m18.6 m19.3 m

Operating expense total

123.4 m132.3 m142.1 m144.1 m148 m156.6 m160.4 m

EBIT

172.6 m171.1 m203.1 m200 m197.3 m218.5 m226 m203.4 m

EBIT margin, %

74%67%74%69%67%70%69%

Pre tax profit

70.2 m70 m84.2 m84.7 m74.4 m90.1 m95.4 m100 m

Income tax expense

23.5 m(32.3 m)29.3 m28 m23.6 m27.8 m29 m32.3 m

Net Income

54.3 m55.3 m48.5 m53.6 m46.5 m46.6 m102.3 m54.9 m56.7 m50.8 m62.3 m66.4 m67.8 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

252.7 m187.5 m267.5 m448.3 m194.6 m

Accounts Receivable

17.7 m

Inventories

19.4 b21.4 b

Total Assets

15 b19.2 b23.9 b27.9 b30.3 b

Accounts Payable

19.5 b21.9 b

Short-term debt

Long-term debt

402.5 m5.2 b4.8 b

Total Debt

5.2 b4.8 b

Total Liabilities

25.5 b27.3 b

Additional Paid-in Capital

1.3 b1.4 b1.4 b1.4 b1.5 b

Retained Earnings

535.3 m651.6 m813.9 m949.7 m1.5 b

Total Equity

1.9 b2.1 b2.2 b2.4 b3 b

Debt to Equity Ratio

2.2 x

Debt to Assets Ratio

0.2 x

Financial Leverage

7.8 x9.4 x10.6 x11.5 x10 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

304.5 m164.9 m276.3 m245.8 m359.7 m262 m239.4 m228.4 m292.6 m

Inventories

13.2 b14.3 b15.4 b17.1 b18.2 b19 b19.5 b20.2 b

Total Assets

20 b21.4 b22.5 b24.8 b26.3 b27.3 b28 b29 b29.6 b

Accounts Payable

14.3 b15.2 b15.9 b17.5 b18.2 b18.8 b19.9 b20.8 b

Long-term debt

402.7 m4.9 b5.2 b4.8 b4.9 b

Total Debt

402.7 m4.9 b5.2 b4.8 b4.9 b

Total Liabilities

17.9 b19.3 b20.3 b22.6 b24 b24.9 b25.5 b26.4 b26.9 b

Additional Paid-in Capital

1.4 b1.4 b1.4 b1.4 b1.4 b1.4 b1.5 b1.5 b1.5 b

Retained Earnings

675.8 m700.1 m780 m846.3 m880.5 m908.9 m988.9 m1 b1.1 b

Total Equity

2.1 b2.1 b2.2 b2.3 b2.3 b2.4 b2.5 b2.6 b2.6 b

Financial Leverage

9.4 x10 x10.2 x11 x11.3 x11.5 x11 x11.2 x11.3 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

208.9 m204.2 m251.7 m225.7 m614.3 m

Depreciation and Amortization

23.2 m31.6 m43.4 m56.4 m61.6 m

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities

(67.1 m)(49.7 m)217.9 m307.2 m318.6 m

Purchases of PP&E

(1.1 b)(3.1 b)(4.2 b)(6.1 b)(1.3 b)

Cash From Investing Activities

(2.6 b)(3.8 b)(4.6 b)(3.8 b)(2.5 b)

Dividends Paid

(65.2 m)(87.7 m)(89 m)(89.8 m)(91.6 m)

Cash From Financing Activities

2.4 b3.8 b4.5 b3.7 b1.9 b

Interest Paid

93.7 m105.4 m186.5 m247.5 m

Income Taxes Paid

97.6 m130 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

156.5 m55.3 m103.8 m157.4 m46.5 m93.1 m195.4 m54.9 m111.6 m162.4 m62.3 m128.7 m67.8 m

Depreciation and Amortization

16.1 m7.4 m14.9 m22.8 m9.3 m19.5 m30.7 m13.2 m26 m39 m14.6 m29.8 m

Cash From Operating Activities

(42.8 m)(18.6 m)(51.5 m)(51.6 m)28.1 m76.2 m160.2 m57.8 m143.4 m226.4 m35.4 m128.9 m231.2 m

Purchases of PP&E

(906.4 m)(179.4 m)(379.3 m)(613.7 m)(734.4 m)(2.1 b)(2.9 b)(1.6 b)(3.1 b)(4.4 b)(339.9 m)(636.9 m)

Cash From Investing Activities

(1.7 b)(606.4 m)(1.6 b)(2.3 b)(665.7 m)(2.3 b)(3.2 b)(909.1 m)(2.3 b)(3.3 b)(275.2 m)(1.4 b)(1.8 b)

Dividends Paid

(43.4 m)(21.8 m)(43.8 m)(65.8 m)(22 m)(44.3 m)(66.6 m)(22.4 m)(44.9 m)(67.3 m)(22.5 m)(45.5 m)(68.6 m)

Cash From Financing Activities

1.7 b635.4 m1.8 b2.4 b754.5 m2.2 b3.2 b829.6 m2.2 b3.1 b30.9 m1 b1.4 b

Interest Paid

65.4 m22.5 m46.6 m72.7 m27.2 m56.8 m89.6 m46.2 m108 m169.8 m

Income Taxes Paid

54.6 m21.7 m70.8 m93.1 m19.2 m19.2 m

Ratios

USDY, 2017

EV/EBIT

9.9 x

EV/CFO

27.5 x

Financial Leverage

10 x
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Operating Metrics

BankUnited's Total Loans was reported to be $20.2b in Q2, 2017.
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