Zions Bancorporation, National Association Financial Ratios — ZIONP

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	2.99	3.38	3.05	5.38	3.73	6.11	7.72	11.71	11.17	7.35	15.61	11.97	8.36	9.07	10.23
Return on Assets (%)	0.62	0.64	0.47	0.7	0.53	0.76	0.91	1.31	1.18	0.72	1.29	0.99	0.77	0.89	1.01
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	10.67	8.61	6.42	2.66	4.15	5.16	6.86	6.94	6.63	3.08	-0.48	3.49	4.49	3.96	3.43
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	23.12	25.17	19.98	28.6	21.77	29.58	35.88	41.09	37.16	24.09	49.67	36.55	28.44	32.33	34.71
Profit Margin (%)	14.36	16.24	12.97	18.34	14.91	19.68	22.69	31.78	28.79	19.32	38.78	28.78	21.83	25.05	26.56
Net Income to Common Margin (%)	6.8	8.3	8.27	15.03	11.92	17.67	21.16	30.55	27.59	18.1	37.79	27.86	20.8	23.74	26.44
Effective Tax Rate (%)	38.1	35.71	35.18	35.88	31.49	33.48	36.75	22.66	22.51	19.79	21.92	21.27	23.25	22.53	23.49
Dvd Payout Ratio (%)	-9.45	-21.21	14.41	7.42	18.62	14.25	16.12	23.76	28.9	44.55	21.09	27.33	38.58	33.38	29.39
Sustainable Growth Rate (%)	3.27	4.1	2.61	4.98	3.04	5.24	6.48	8.93	7.94	4.08	12.31	8.7	5.13	6.04	7.23

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	2,025	2,343	2,274	1,093	812	1,035	3,983	5,224	2,723	1,336	1,012	7,751	2,067	3,475	3,472
ST Debt	70	5	- -	1	- -	500	3,600	4,500	1,000	- -	- -	7,100	1,525	2,525	2,000
LT Debt	1,954	2,337	2,274	1,092	812	535	383	724	1,723	1,336	1,012	651	542	950	1,472
Total Debt/EBITDA	8.42	12.65	17.41	18.95	9.45	8.41	22.25	27.07	14.48	15.53	-72.29	70.46	14.76	28.02	29.93
Net Debt/EBITDA	-25.87	-29.59	-54.18	-120.08	-70.87	-9.06	14.82	20.68	6.76	-3.31	705	52.27	-1.01	-0.24	5.03
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.78	9.67	10.09	11.35	11.29	11.14	10.94	10.56	9.75	8.59	7.62	8.45	9.11	9.5	10.18
Long-Term Debt/Equity (%)	27.99	38.64	35.17	14.82	10.82	7.01	4.99	9.55	23.43	16.94	13.56	13.3	9.52	15.51	20.5
Long-Term Debt/Capital (%)	20.36	26.45	25.46	12.71	9.7	6.09	3.25	5.55	17.17	15.02	11.83	4.13	5.19	7.93	11.69
Long-Term Debt/Total Assets (%)	3.68	4.21	4.06	1.91	1.36	0.85	0.58	1.05	2.49	1.64	1.09	0.73	0.62	1.07	1.65
Total Debt/Equity (%)	28.99	38.73	35.17	14.84	10.82	13.56	51.87	68.94	37.03	16.94	13.56	158.41	36.32	56.74	48.36
Total Debt/Capital (%)	21.09	26.51	25.46	12.73	9.7	11.77	33.75	40.02	27.14	15.02	11.83	49.19	19.78	29.01	27.57
Total Debt/Total Assets (%)	3.81	4.22	4.06	1.91	1.36	1.64	6.01	7.6	3.94	1.64	1.09	8.66	2.37	3.91	3.9
Net Debt to Equity	-89.09	-90.58	-109.48	-94	-81.19	-14.59	34.54	52.67	17.29	-3.61	-132.25	117.51	-2.48	-0.49	8.12
Net Debt/Capital (%)	-459.2	-539.05	1,685.48	-1,213.21	-415.17	-16.77	25.33	33.77	14.8	-3.91	424.88	41.79	-1.71	-0.35	6.01
EBITDA	240	185	131	58	86	123	179	193	188	86	-14	110	140	124	116
EBITDA-CapEx	163	116	42	-118	-71	-73	10	64	71	-85	-220	-80	27	27	-5
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.78	9.67	10.09	11.35	11.29	11.14	10.94	10.56	9.75	8.59	7.62	8.45	9.11	9.5	10.18
Long-Term Debt/Equity (%)	27.99	38.64	35.17	14.82	10.82	7.01	4.99	9.55	23.43	16.94	13.56	13.3	9.52	15.51	20.5
Long-Term Debt/Capital (%)	20.36	26.45	25.46	12.71	9.7	6.09	3.25	5.55	17.17	15.02	11.83	4.13	5.19	7.93	11.69
Long-Term Debt/Total Assets (%)	3.68	4.21	4.06	1.91	1.36	0.85	0.58	1.05	2.49	1.64	1.09	0.73	0.62	1.07	1.65
Total Debt/Equity (%)	28.99	38.73	35.17	14.84	10.82	13.56	51.87	68.94	37.03	16.94	13.56	158.41	36.32	56.74	48.36
Total Debt/Capital (%)	21.09	26.51	25.46	12.73	9.7	11.77	33.75	40.02	27.14	15.02	11.83	49.19	19.78	29.01	27.57
Total Debt/Total Assets (%)	3.81	4.22	4.06	1.91	1.36	1.64	6.01	7.6	3.94	1.64	1.09	8.66	2.37	3.91	3.9
CFO/Total Liabilities	2.32	1.49	1.68	0.76	0.89	1.07	1.58	1.92	1.13	0.98	0.73	1.74	1.09	1.39	1.31
CFO/CapEx	13.76	10.69	9.43	2.16	2.96	3.04	5.49	9.12	5.96	4.2	3.05	7.74	7.83	11.84	8.87
Altman's Z-Score	0.07	0.07	0.07	0.08	0.08	0.09	0.1	0.11	0.12	0.11	0.11	0.13	0.14	0.14	0.16

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover

- -

Days Sales Outstanding

- -

Inventory Turnover

- -

Days Inventory Outstanding

- -

Accounts Payable Turnover

- -

Accounts Payable Turnover Days

- -

Cash Conversion Cycle

- -

Inventory to Cash Days

- -

Inventories

- -

Raw Materials

- -

Work In Process

- -

Finished Goods

- -

Other Inventory

- -

Enterprise Value (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	8,245	7,821	9,350	8,020	6,906	2,148	1,330	1,233	1,448	1,617	10,878	1,997	2,204	3,501	2,885
+ Preferred Equity and Hybrid Capital	2,378	1,128	1,004	1,004	828	710	566	566	566	566	440	440	440	66	66
+ Minority/Non Controlling Interest	-2	-3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	2,025	2,343	2,274	1,093	812	1,035	3,983	5,224	2,723	1,336	1,012	7,751	2,067	3,475	3,472
Enterprise Value	-7,076	-7,445	-9,774	-9,767	-12,909	-13,775	-11,942	-10,180	-11,884	-15,446	-33,474	-5,721	-9,997	-9,055	-8,578
Total Capital	9,600	8,837	8,930	8,591	8,374	8,791	11,801	13,052	10,033	8,897	8,555	15,756	10,450	11,979	12,593
Total Debt/Capital (%)	21.09	26.51	25.46	12.73	9.7	11.77	33.75	40.02	27.14	15.02	11.83	49.19	19.78	29.01	27.57
Total Debt / EV	-0.29	-0.31	-0.23	-0.11	-0.06	-0.08	-0.33	-0.51	-0.23	-0.09	-0.03	-1.35	-0.21	-0.38	-0.4
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	-3,845	-4,353	-6,073	-5,923	-5,266	-403	3,219	4,557	1,841	285	-9,426	6,194	303	40	653
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	2,254	2,152	2,034	2,173	2,072	2,383	2,609	2,782	2,834	2,790	2,911	3,152	3,115	3,130	3,385
TTM EBITDA	240	185	131	58	86	123	179	193	188	86	-14	110	140	124	116
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	1,069	736	835	380	464	596	928	1,176	697	719	629	1,470	885	1,148	1,073
TTM Free Cash Flow to Firm	1,146	805	924	556	621	792	1,097	1,305	814	890	835	1,660	998	1,245	1,194

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-7,076	-7,445	-9,774	-9,767	-12,909	-13,775	-11,942	-10,180	-11,884	-15,446	-33,474	-5,721	-9,997	-9,055	-8,578
Low Price	14.49	16.6	19.78	19.61	20.85	20.5	22.75	19.46	21.75	15.34	24.56	17.01	13.61	19.01	19.73
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	- -	- -	- -	- -	- -	- -	1.23	1.64	0.65	0.1	- -	1.97	0.1	0.01	0.19
EV/Sales High	- -	- -	- -	- -	- -	- -	1.23	1.64	0.65	0.1	- -	1.97	0.1	0.01	0.19
EV/Sales Low	- -	- -	- -	- -	- -	- -	1.23	1.64	0.65	0.1	- -	1.97	0.1	0.01	0.19
EV/EBITDA Average	-15.99	-23.51	-46.49	-102.66	-61.23	-3.28	17.98	23.61	9.79	3.31	673.29	56.31	2.16	0.32	5.63
EV/EBITDA High	-15.99	-23.51	-46.49	-102.66	-61.23	-3.28	17.98	23.61	9.79	3.31	673.29	56.31	2.16	0.32	5.63
EV/EBITDA Low	-15.99	-23.51	-46.49	-102.66	-61.23	-3.28	17.98	23.61	9.79	3.31	673.29	56.31	2.16	0.32	5.63
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	16.55	22.04	20.43	21.46	21.99	23.23	24.22	21.8	24.83	24.98	25.15	17.82	20	23.99	19.84
High Price	20.96	24.5	25	22.5	23.75	25.99	25.87	25.19	25.09	25.96	30	25.42	21.75	24.51	24.5
Enterprise Value Average	-3,845	-4,353	-6,073	-5,923	-5,266	-403	3,219	4,557	1,841	285	-9,426	6,194	303	40	653
Enterprise Value High	-3,845	-4,353	-6,073	-5,923	-5,266	-403	3,219	4,557	1,841	285	-9,426	6,194	303	40	653
Enterprise Value Low	-3,845	-4,353	-6,073	-5,923	-5,266	-403	3,219	4,557	1,841	285	-9,426	6,194	303	40	653

Shares Outstanding	184	184	185	203	204	203	198	188	165	164	152	149	148	148	148
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Zions Bancorporation, National Association

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)