Regions Financial (RF) FY2020 results: revenue $6.3 billion, up 7.3% on the year
Regions Financial Corp. (RF) reported revenue of $6.3 billion for fiscal 2020, the year ended 31 December 2020, up 7.3% on the year before. Net income was $1.1 billion, down 30.8%, and diluted earnings per share $1.03. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$6.3 billion
+7.3% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$1.1 billion
-30.8% on the year
FY2013FY2020
Diluted EPS
$1.03
-31.3% 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
6,287
5,861
5,754
+7.3%
Interest expense
368
851
602
-56.8%
Pre-tax income
1,314
1,985
1,955
-33.8%
Income tax
220
403
387
-45.4%
Effective tax rate
16.7%
20.3%
19.8%
Net income
1,094
1,582
1,759
-30.8%
Net margin
17.4%
27.0%
30.6%
Diluted EPS
$1.03
$1.50
$1.54
-31.3%
$ 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
2,324
2,581
2,275
-10.0%
Cash from investing
-4,853
509
-3,045
Cash from financing
16,371
-2,514
327
Depreciation and amortisation
421
426
462
-1.2%
Buybacks
0.0
1,101
2,122
Dividends paid
595
577
452
+3.1%
Dividend per share
$0.62
$0.59
$0.46
+5.1%
Diluted shares, weighted
962m
999m
1,102m
-3.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
18,111
16,295
15,090
+11.1%
Non-controlling interest
0.0
0.0
0.0
Deposits
122,479
97,475
94,491
+25.7%
Short-term borrowings
0.0
n/a
n/a
Debt
3,569
9,929
14,024
-64.1%
Other liabilities
3,230
2,541
2,083
+27.1%
Total liabilities and equity
147,389
126,240
125,688
+16.8%
Fixed assets
1,897
1,960
2,045
-3.2%
Goodwill
5,190
4,845
4,829
+7.1%
Intangible assets
122
105
115
+16.2%
Securities held for sale or to maturity
28,276
23,938
24,211
+18.1%
Loans
83,099
82,094
82,312
+1.2%
Resale agreements
n/a
n/a
0.0
Cash and equivalents
17,956
4,114
3,538
+336.5%
Other assets
10,849
9,184
8,638
+18.1%
Total assets
147,389
126,240
125,688
+16.8%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.