International Bancshares (IBOC) Q4 FY2021 earnings: revenue $135 million, up 3.3% on the year

International Bancshares Corp. (IBOC) reported revenue of $135 million for Q4 FY2021, the quarter ended 31 December 2021, up 3.3% on the same quarter a year earlier. Net income was $57 million, up 17.2% on the year, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.

Revenue

$135 million

+3.3% on the year · -4.4% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

n/a

Q1 FY2020Q4 FY2021

Net income

$57 million

+17.2% on the year · +3.5% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.89

+15.6% on the year · +3.5% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	135	142	131	-4.4%	+3.3%
Interest expense	6.6	n/a	n/a
Pre-tax income	71.2	n/a	n/a
Income tax	14.6	n/a	n/a
Effective tax rate	20.6%	n/a	n/a
Net income	56.5	54.6	48.2	+3.5%	+17.2%
Net margin	41.7%	n/a	n/a
Diluted EPS	$0.89	$0.86	$0.77	+3.5%	+15.6%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	67.2	n/a	n/a
Capital expenditure	4.3	n/a	n/a
Free cash flow	62.9	n/a	n/a
Cash from investing	465	n/a	n/a
Cash from financing	389	n/a	n/a
Share-based compensation	0.1	n/a	n/a
Buybacks	0.0	n/a	n/a
Dividends paid	-0.0	n/a	n/a
Diluted shares, weighted	63m	63m	64m	-0.0%	-0.6%
Shares outstanding at period end	63m	63m	63m	+0.0%	+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	2,308	2,294	2,178	+0.6%	+6.0%
Deposits	12,618	n/a	n/a
Debt	1,010	995	999	+1.5%	+1.1%
Other liabilities	109	n/a	n/a
Total liabilities and equity	16,046	n/a	n/a
Fixed assets	447	n/a	n/a
Goodwill	283	n/a	n/a
Investments	4,223	n/a	n/a
Cash and equivalents	3,209	2,287	1,997	+40.3%	+60.7%
Other assets	7,884	n/a	n/a
Total assets	16,046	n/a	n/a

Questions

What was International Bancshares' revenue in Q4 FY2021?

International Bancshares (IBOC) reported revenue of $135 million for Q4 FY2021, the quarter ended 31 December 2021, up 3.3% on the same quarter a year earlier.

How much did International Bancshares earn in Q4 FY2021?

Net income for Q4 FY2021 was $57 million, up 17.2% on the year, and diluted earnings per share $0.89.

When did International Bancshares report Q4 FY2021 results?

International Bancshares filed its 10-K for the year that ended with the quarter on 24 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	135	134	146	190	205	206	204	213	211	206	208	212	208	198	208	218	218	208	215	229
Interest expense	6.6	6.4	6.7	9.9	15.2	23.0	31.7	36.8	45.2	48.5	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	71.2	68.0	73.7	106	135	129	128	131	136	123	125	127	134	121	126	136	137	129	121	145
Tax rate	21%	21%	21%	21%	22%	21%	21%	21%	22%	21%	22%	21%	14%	20%	20%	21%	22%	21%	21%	21%
Net income	56.5	53.5	58.0	83.4	105	102	100	103	106	97.3	97.0	99.8	115	96.9	100	108	107	102	95.8	114
Net margin	42%	40%	40%	44%	51%	49%	49%	49%	50%	47%	47%	47%	55%	49%	48%	50%	49%	49%	45%	50%
Diluted EPS	$0.89	$0.84	$0.92	$1.34	$1.68	$1.63	$1.62	$1.66	$1.71	$1.56	$1.56	$1.60	$1.85	$1.56	$1.61	$1.74	$1.71	$1.64	$1.54	$1.84
Operating cash flow	67.2	79.1	88.3	121	99.4	143	85.2	114	133	135	107	116	115	140	95.5	115	140	121	94.2	127
Capital expenditure	4.3	2.5	6.1	4.2	6.4	4.3	5.6	9.2	8.4	6.5	2.3	6.9	n/a	7.4	3.9	2.9	3.9	4.7	5.7	3.6
Free cash flow	62.9	76.6	82.2	117	93.0	138	79.7	105	124	129	105	110	n/a	133	91.6	112	136	116	88.6	123
Buybacks	0.0	3.4	37.2	11.4	0.1	1.0	3.4	0.1	0.1	0.5	0.0	0.2	0.2	n/a	n/a	0.0	n/a	0.1	0.1	0.5
Dividends paid	-0.0	38.0	0.0	37.3	0.0	39.2	0.0	39.1	0.0	41.0	0.0	41.0	0.0	43.5	0.0	43.5	0.0	45.4	0.0	45.4
Shares outstanding	63m	63m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 24 February 2022: the filing.