International Bancshares (IBOC) FY2020 results: revenue $538 million, down 8.5% on the year
International Bancshares Corp. (IBOC) reported revenue of $538 million for fiscal 2020, the year ended 31 December 2020, down 8.5% on the year before. Net income was $167 million, down 18.4%, and diluted earnings per share $2.62. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$538 million
-8.5% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$167 million
-18.4% on the year
FY2013FY2020
Diluted EPS
$2.62
-16.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
538
589
578
-8.5%
Interest expense
39.1
58.6
52.7
-33.3%
Pre-tax income
212
260
273
-18.5%
Income tax
44.4
54.9
56.7
-19.0%
Effective tax rate
21.0%
21.1%
20.8%
Net income
167
205
216
-18.4%
Net margin
31.1%
34.8%
37.3%
Diluted EPS
$2.62
$3.12
$3.24
-16.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
305
312
230
-2.1%
Capital expenditure
6.7
29.6
21.4
-77.3%
Free cash flow
298
282
208
+5.8%
Cash from investing
-344
-318
379
Cash from financing
1,779
-53.5
-558
Share-based compensation
0.7
1.0
1.0
-24.2%
Buybacks
48.9
17.8
19.0
+173.9%
Dividends paid
69.9
68.7
49.6
+1.8%
Dividend per share
$1.10
$1.05
$0.75
+4.8%
Diluted shares, weighted
64m
66m
67m
-2.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,178
2,118
1,940
+2.8%
Deposits
10,722
8,826
8,697
+21.5%
Debt
999
998
1,096
+0.1%
Other liabilities
130
171
140
-23.7%
Total liabilities and equity
14,029
12,113
11,872
+15.8%
Fixed assets
480
507
507
-5.3%
Goodwill
283
283
283
0.0%
Investments
3,090
n/a
n/a
Securities held for sale or to maturity
n/a
3,381
3,413
Loans
n/a
6,835
6,500
Cash and equivalents
1,997
257
317
+677.7%
Other assets
8,179
851
853
+861.2%
Total assets
14,029
12,113
11,872
+15.8%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.