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Banks · Financial Services · Fiscal year ends Dec 31
Zions Bancorporation, National Association reported revenue of $529M in the fiscal year ended Dec 2025, up 3.1% from the year before. Net income was $899M. Operating cash flow of $1.1B less capital expenditure of $121M left free cash flow of $952M. Net debt was $3.9B.
Ranks among the 59 banks companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 449 | 495 | 503 | 513 | 529 |
| Net interest incomeBanks | 2,208 | 2,520 | 2,438 | 2,430 | 2,627 |
| Interest expense | 59.0 | 185 | 1,509 | 1,863 | 1,557 |
| Income tax | 317 | 245 | 206 | 228 | 276 |
| Net income | 1,129 | 907 | 680 | 784 | 899 |
| Diluted EPS | 6.79 | 5.79 | 4.35 | 4.95 | 6.01 |
| Diluted shares | 160 | 150 | 148 | 147 | 147 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 595 | 657 | 716 | 651 | 683 |
| Net PP&E | 1,319 | 1,408 | 1,400 | 1,366 | 1,363 |
| Goodwill | 1,014 | 1,027 | 1,027 | 1,027 | 1,060 |
| Total assets | 93,200 | 89,545 | 87,203 | 88,775 | 88,690 |
| Short-term debt | 903 | 10,417 | 4,379 | 3,832 | 3,104 |
| Long-term debt | 1,012 | 651 | 542 | 946 | 1,472 |
| DepositsBanks | 82,789 | 71,652 | 74,961 | 76,223 | 75,644 |
| Total liabilities | 85,737 | 84,652 | 81,512 | 82,651 | 81,510 |
| Shareholders' equity | 7,463 | 4,893 | 5,691 | 6,124 | 7,180 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 629 | 1,470 | 885 | 1,148 | 1,073 |
| Capital expenditure | 206 | 190 | 113 | 97.0 | 121 |
| Free cash flow | 423 | 1,280 | 772 | 1,051 | 952 |
| Depreciation & amortisation | −14.0 | 110 | 140 | 124 | 116 |
| Stock-based compensation | 28.0 | 30.0 | 33.0 | 33.0 | 35.0 |
| Acquisitions | 0.0 | −318 | 0.0 | 0.0 | −191 |
| Share buybacks | 800 | 202 | 51.0 | 36.0 | 41.0 |
| Dividends paid | 261 | 269 | 282 | 289 | 267 |
| Dividend per share | 1.44 | 1.58 | 1.64 | 1.66 | 1.76 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 10.2% | 1.6% | 2.0% | 3.1% |
| EPS growth (YoY) | – | −14.7% | −24.9% | 13.8% | 21.4% |
| Net margin | 251.4% | 183.2% | 135.2% | 152.8% | 169.9% |
| Return on equityBlank when equity is negative | 15.1% | 18.5% | 11.9% | 12.8% | 12.5% |
| Free cash flow margin | 94.2% | 258.6% | 153.5% | 204.9% | 180.0% |
| Cash conversion (CFO ÷ net income) | 0.56x | 1.62x | 1.30x | 1.46x | 1.19x |
| Debt ÷ equity | 0.26x | 2.26x | 0.86x | 0.78x | 0.64x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,320 | 10,411 | 4,205 | 4,127 | 3,893 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.