Zions Bancorporation, N.A. (ZION) Financials

$60.09 +0.45 (+0.75%)

Closing price 05/14/2026 04:00 PM Eastern

Extended Trading

$59.64 -0.45 (-0.75%)

As of 06:01 AM Eastern

Annual Income Statements for Zions Bancorporation, N.A.

This table shows Zions Bancorporation, N.A.'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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
Net Income / (Loss) Attributable to Common Shareholders	247	411	550	850	782	505	1,100	878	648	737	895
Consolidated Net Income / (Loss)	309	469	592	884	816	539	1,129	907	680	784	899
Net Income / (Loss) Continuing Operations	309	469	592	884	816	539	1,129	907	664	784	899
Total Pre-Tax Income	451	705	936	1,143	1,053	672	1,446	1,152	886	1,012	1,175
Total Revenue	2,072	2,383	2,609	2,782	2,834	2,790	2,911	3,152	3,115	3,130	3,385
Net Interest Income / (Expense)	1,715	1,867	2,065	2,230	2,272	2,216	2,208	2,520	2,438	2,430	2,627
Total Interest Income	1,833	1,954	2,192	2,481	2,683	2,368	2,267	2,705	3,947	4,293	4,184
Loans and Leases Interest Income	1,686	1,729	1,847	2,102	2,289	2,050	1,935	2,112	3,196	3,514	3,501
Investment Securities Interest Income	124	204	326	350	362	304	311	512	563	549	497
Deposits and Money Market Investments Interest Income	23	21	19	29	32	14	21	81	188	230	186
Total Interest Expense	118	87	127	251	411	152	59	185	1,509	1,863	1,557
Deposits Interest Expense	49	49	59	135	254	105	30	70	1,063	1,540	1,250
Long-Term Debt Interest Expense	69	38	68	116	157	47	29	115	446	323	307
Total Non-Interest Income	357	516	544	552	562	574	703	632	677	700	758
Trust Fees by Commissions	57	59	47	55	40	44	50	55	58	58	57
Other Service Charges	366	391	316	317	407	437	451	486	492	514	530
Net Realized & Unrealized Capital Gains on Investments	-96	42	63	0.00	-6.00	1.00	85	18	61	61	96
Investment Banking Income	30	24	118	44	121	24	117	73	66	67	75
Provision for Credit Losses	40	93	17	-39	37	414	-258	101	148	72	71
Total Non-Interest Expense	1,581	1,585	1,656	1,679	1,742	1,704	1,741	1,878	2,097	2,046	2,138
Salaries and Employee Benefits	973	978	1,006	1,070	1,141	1,087	1,127	1,235	1,275	1,287	1,350
Net Occupancy & Equipment Expense	243	250	259	258	268	343	352	361	400	421	442
Marketing Expense	25	22	22	26	19	61	43	39	46	45	64
Property & Liability Insurance Claims	34	40	53	50	25	33	34	50	169	91	64
Other Operating Expenses	298	299	311	274	291	179	167	214	191	202	219
Income Tax Expense	142	236	344	259	237	133	317	245	206	228	276
Preferred Stock Dividends Declared	62	58	42	34	34	34	29	29	32	47	4.00
Basic Earnings per Share	$1.20	$2.00	$2.71	$4.36	$4.41	$3.06	$6.80	$5.80	$4.35	$4.95	$6.01
Weighted Average Basic Shares Outstanding	203.27M	203.86M	200.78M	193.59M	175.98M	163.74M	159.91M	150.06M	147.75M	147.21M	147.12M
Diluted Earnings per Share	$1.20	$1.99	$2.60	$4.08	$4.16	$3.02	$6.79	$5.79	$4.35	$4.95	$6.01
Weighted Average Diluted Shares Outstanding	203.70M	204.27M	209.65M	206.50M	186.50M	165.61M	160.23M	150.27M	147.76M	147.22M	147.16M
Weighted Average Basic & Diluted Shares Outstanding	205.50M	205.70M	203M	195M	164.92M	164.21M	151.57M	148.65M	148.16M	147.89M	147.89M
Cash Dividends to Common per Share	$0.00	$0.00	-	$1.04	$1.28	$1.36	$1.44	$1.58	$1.64	$1.66	$1.76

This table shows Zions Bancorporation, N.A.'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	168	116	143	190	204	200	169	243	221	262	232
Consolidated Net Income / (Loss)	175	126	153	201	214	216	170	244	222	263	233
Net Income / (Loss) Continuing Operations	175	110	153	201	214	216	170	244	222	263	233
Total Pre-Tax Income	228	150	203	262	277	270	239	312	285	339	294
Total Revenue	765	731	742	776	792	820	795	838	861	891	849
Net Interest Income / (Expense)	585	583	586	597	620	627	624	648	672	683	662
Total Interest Income	1,010	1,040	1,054	1,073	1,104	1,062	1,028	1,051	1,064	1,041	996
Loans and Leases Interest Income	831	848	865	877	899	873	850	875	898	878	841
Investment Securities Interest Income	144	144	142	140	138	129	125	126	125	121	116
Deposits and Money Market Investments Interest Income	35	48	47	56	67	60	53	50	41	42	39
Total Interest Expense	425	457	468	476	484	435	404	403	392	358	334
Deposits Interest Expense	366	395	376	390	403	371	326	312	313	299	275
Long-Term Debt Interest Expense	59	62	92	86	81	64	78	91	79	59	59
Total Non-Interest Income	180	148	156	179	172	193	171	190	189	208	187
Trust Fees by Commissions	15	14	15	15	14	14	15	14	14	14	16
Other Service Charges	125	119	121	122	126	142	126	131	130	143	136
Net Realized & Unrealized Capital Gains on Investments	23	-2.00	4.00	26	14	20	13	26	26	31	15
Other Non-Interest Income	17	-	-	16	18	-	17	19	19	-	20
Provision for Credit Losses	41	16	21	5.00	13	41	18	-1.00	49	6.00	-7.00
Total Non-Interest Expense	496	581	526	509	502	509	538	527	527	546	562
Salaries and Employee Benefits	311	301	331	318	317	321	342	336	337	335	361
Net Occupancy & Equipment Expense	104	103	101	106	106	108	111	105	112	114	115
Marketing Expense	10	11	10	13	12	10	11	12	11	30	13
Property & Liability Insurance Claims	20	109	34	21	19	17	22	20	16	6.00	15
Other Operating Expenses	51	41	42	52	48	53	52	54	51	62	58
Income Tax Expense	53	24	50	61	63	54	69	68	63	76	61
Preferred Stock Dividends Declared	7.00	10	10	11	10	16	1.00	1.00	1.00	1.00	1.00
Basic Earnings per Share	$1.13	$0.78	$0.96	$1.28	$1.37	$1.34	$1.13	$1.63	$1.48	$1.77	$1.56
Weighted Average Basic Shares Outstanding	147.65M	147.75M	147.34M	147.12M	147.14M	147.21M	147.32M	147.04M	147.05M	147.12M	146.95M
Diluted Earnings per Share	$1.13	$0.78	$0.96	$1.28	$1.37	$1.34	$1.13	$1.63	$1.48	$1.77	$1.56
Weighted Average Diluted Shares Outstanding	147.65M	147.76M	147.34M	147.12M	147.15M	147.22M	147.39M	147.05M	147.13M	147.16M	147.04M
Weighted Average Basic & Diluted Shares Outstanding	148.15M	148.16M	147.65M	147.70M	147.71M	147.89M	147.57M	147.62M	147.64M	147.89M	147.09M
Cash Dividends to Common per Share	$0.41	$0.41	$0.41	$0.41	$0.41	$0.43	$0.43	$0.43	$0.45	-	$0.45

This table details how cash moves in and out of Zions Bancorporation, N.A.'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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
Net Change in Cash & Equivalents	-44	-61	-189	66	91	-162	52	62	59	-65	32
Net Cash From Operating Activities	464	596	928	1,176	697	719	629	1,470	885	1,148	1,073
Net Cash From Continuing Operating Activities	337	596	928	1,176	697	719	629	1,470	885	1,148	1,073
Net Income / (Loss) Continuing Operations	309	469	592	884	816	539	1,129	907	680	784	899
Consolidated Net Income / (Loss)	309	469	592	884	816	539	1,129	907	680	784	899
Provision For Loan Losses	34	83	17	-40	39	414	-276	122	132	72	72
Depreciation Expense	86	123	179	193	188	86	-14	110	140	124	116
Non-Cash Adjustments to Reconcile Net Income	-35	-4.00	136	0.00	7.00	-61	-52	-59	81	-9.00	12
Changes in Operating Assets and Liabilities, net	-57	-75	4.00	139	-353	-259	-158	390	-148	177	-26
Net Cash From Investing Activities	-2,579	-3,436	-3,919	-2,706	375	-12,204	-11,579	1,405	2,370	-1,640	738
Net Cash From Continuing Investing Activities	-2,579	-3,436	-3,919	-2,706	375	-12,204	-11,579	1,405	2,370	-1,640	738
Purchase of Property, Leasehold Improvements and Equipment	-157	-196	-169	-129	-117	-171	-206	-190	-113	-97	-121
Purchase of Investment Securities	-6,106	-11,897	-7,175	-6,019	-3,858	-11,189	-11,032	-10,836	-2,627	-2,729	-2,423
Sale and/or Maturity of Investments	3,684	8,657	3,425	3,436	4,350	-844	-341	12,431	5,110	1,186	3,282
Net Cash From Financing Activities	2,071	2,779	2,802	1,596	-981	11,323	11,002	-2,813	-3,196	427	-1,779
Net Cash From Continuing Financing Activities	2,071	2,779	2,802	1,596	-981	11,323	11,002	-2,813	-3,196	427	-1,779
Net Change in Deposits	2,526	2,883	-614	1,484	2,984	12,568	13,136	-11,567	3,309	1,262	-1,236
Issuance of Debt	103	480	7,249	3,174	992	-481	-669	9,514	-6,038	-51	-230
Issuance of Common Equity	22	25	25	20	14	8.00	21	9.00	3.00	10	6.00
Repayment of Debt	-288	-280	-3,253	-2,174	-3,600	-429	-286	-290	-128	-88	0.00
Repurchase of Preferred Equity	-176	-126	-144	-	0.00	0.00	-126	0.00	0.00	-374	0.00
Repurchase of Common Equity	-7.00	-97	-321	-672	-1,102	-76	-800	-202	-51	-36	-41
Payment of Dividends	-108	-108	-129	-236	-260	-259	-261	-269	-282	-289	-267
Other Financing Activities, Net	-1.00	2.00	-11	-	-9.00	-8.00	-13	-8.00	-9.00	-7.00	-11
Cash Interest Paid	102	83	118	237	401	195	81	160	1,368	1,905	1,567
Cash Income Taxes Paid	132	214	246	207	233	169	442	21	255	192	196

This table details how cash moves in and out of Zions Bancorporation, N.A.'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-1.00	16	-7.00	8.00	397	-463	182	-53	-9.00	-88	-22
Net Cash From Operating Activities	311	-245	261	251	119	517	179	-62	438	518	423
Net Cash From Continuing Operating Activities	311	-245	261	251	119	517	179	-62	438	518	423
Net Income / (Loss) Continuing Operations	175	126	153	201	214	216	170	244	222	263	233
Consolidated Net Income / (Loss)	175	126	153	201	214	216	170	244	222	263	233
Provision For Loan Losses	41	-	13	5.00	13	41	18	-1.00	49	6.00	-7.00
Depreciation Expense	36	32	32	31	32	29	28	29	30	29	30
Non-Cash Adjustments to Reconcile Net Income	30	-17	34	-7.00	-20	-16	33	-12	-9.00	-	29
Changes in Operating Assets and Liabilities, net	29	-386	29	21	-120	247	-70	-322	146	220	138
Net Cash From Investing Activities	-148	738	53	-460	1,133	-2,366	1,661	-631	359	-651	428
Net Cash From Continuing Investing Activities	-148	738	53	-460	1,133	-2,366	1,661	-631	359	-651	428
Purchase of Property, Leasehold Improvements and Equipment	-31	-29	-30	-17	-22	-28	-27	-31	-25	-38	-25
Purchase of Investment Securities	-101	-1,069	-478	-655	-566	-1,030	-470	-1,308	269	-914	-907
Sale and/or Maturity of Investments	-16	1,836	561	212	1,721	-1,308	2,158	708	115	301	1,360
Net Cash From Financing Activities	-164	-477	-321	217	-855	1,386	-1,658	640	-806	45	-873
Net Cash From Continuing Financing Activities	-164	-477	-321	217	-855	1,386	-1,658	640	-806	45	-873
Net Change in Deposits	1,076	-438	-724	-467	1,948	505	-1,188	-1,892	1,077	767	1,263
Issuance of Debt	-1,167	33	516	755	-2,731	1,409	-356	2,596	-1,817	-653	-1,993
Issuance of Common Equity	-	1.00	0.00	-	1.00	9.00	4.00	-	2.00	-	14
Repurchase of Common Equity	-	-1.00	-35	-	-	-1.00	-41	-	-	-	-77
Payment of Dividends	-73	-71	-71	-72	-72	-74	-66	-65	-68	-68	-68
Other Financing Activities, Net	-	-1.00	-7.00	1.00	-1.00	-	-11	1.00	-	-1.00	-12
Cash Interest Paid	367	455	491	449	483	482	423	406	373	365	333
Cash Income Taxes Paid	2.00	22	0.00	90	41	61	1.00	113	59	23	2.00

This table presents Zions Bancorporation, N.A.'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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 Assets	59,665	63,239	66,288	68,746	69,172	81,479	93,200	89,545	87,203	88,775	88,690
Cash and Due from Banks	798	737	548	614	705	543	595	657	716	651	683
Federal Funds Sold	620	568	514	1,461	484	5,765	2,133	2,426	937	1,453	1,420
Interest Bearing Deposits at Other Banks	6,108	1,411	782	619	743	1,074	10,283	1,340	1,488	2,850	2,202
Trading Account Securities	8,387	14,527	16,123	15,710	14,628	16,714	24,944	23,514	20,730	18,799	18,138
Loans and Leases, Net of Allowance	40,043	42,082	44,262	46,219	-495	52,699	50,338	55,078	57,095	58,714	60,222
Loans and Leases	40,650	42,649	44,780	46,714	-	53,476	50,851	55,653	57,779	59,410	60,900
Allowance for Loan and Lease Losses	606	567	518	495	495	777	513	575	684	696	678
Loans Held for Sale	-	-	-	-	-	-	-	-	53	74	201
Premises and Equipment, Net	905	1,020	1,094	1,124	1,142	1,209	1,319	1,408	1,400	1,366	1,363
Intangible Assets	16	-	-	1,015	1,014	1,016	1,015	1,065	1,059	1,052	1,091
Other Assets	1,772	1,868	1,945	1,984	50,951	2,459	2,573	4,057	3,725	3,816	3,370
Total Liabilities & Shareholders' Equity	59,665	63,239	66,288	68,746	69,172	81,479	93,200	89,545	87,203	88,775	88,690
Total Liabilities	52,157	55,605	58,609	61,168	61,819	73,593	85,737	84,652	81,512	82,651	81,510
Non-Interest Bearing Deposits	22,277	53,236	52,621	23,645	23,576	32,494	82,789	71,652	26,244	24,704	25,823
Interest Bearing Deposits	28,097	-	-	30,456	33,509	37,159	-	-	48,717	51,519	49,821
Federal Funds Purchased and Securities Sold	347	827	4,976	5,653	2,053	1,572	903	10,417	4,379	3,832	2,872
Long-Term Debt	812	535	383	724	1,723	1,336	1,012	651	542	950	1,472
Other Long-Term Liabilities	624	1,007	629	690	958	1,032	1,033	1,932	1,630	1,646	1,522
Total Equity & Noncontrolling Interests	7,508	7,634	7,679	7,578	7,353	7,886	7,463	4,893	5,691	6,124	7,180
Total Preferred & Common Equity	7,508	7,634	7,679	7,578	7,353	7,886	7,463	4,893	5,691	6,124	7,180
Preferred Stock	828	710	566	566	566	566	440	440	440	66	66
Total Common Equity	6,679	6,924	7,113	7,012	6,787	7,320	7,023	4,453	5,251	6,058	7,114
Common Stock	4,767	4,725	4,445	3,806	2,735	2,686	1,928	1,754	1,731	1,737	1,726
Retained Earnings	1,967	2,321	2,807	3,456	4,009	4,309	5,175	5,811	6,212	6,701	7,329
Accumulated Other Comprehensive Income / (Loss)	-55	-122	-139	-250	43	325	-80	-3,112	-2,692	-2,380	-1,941

This table presents Zions Bancorporation, N.A.'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	88,474	88,573	87,230	87,269	87,060	87,606	87,032	87,992	88,893	88,533	87,957
Cash and Due from Banks	549	607	701	700	709	717	1,114	833	780	771	661
Federal Funds Sold	2,797	688	781	1,427	894	936	986	936	1,140	1,008	1,007
Interest Bearing Deposits at Other Banks	1,291	2,727	1,531	1,704	1,688	2,276	1,253	1,980	1,781	2,395	1,741
Trading Account Securities	23,784	22,572	21,653	20,779	20,211	19,684	19,420	18,768	18,568	18,363	17,976
Loans and Leases, Net of Allowance	53,377	55,713	56,266	56,212	57,410	57,719	58,190	59,244	60,143	59,623	60,645
Loans and Leases	53,918	56,331	56,917	56,893	58,109	58,415	58,884	59,941	60,833	60,302	61,312
Allowance for Loan and Lease Losses	541	618	651	681	699	696	694	697	690	679	667
Loans Held for Sale	-	-	-	-	-	-	97	112	172	215	140
Premises and Equipment, Net	1,388	1,411	1,414	1,410	1,396	1,383	1,372	1,362	1,361	1,358	1,356
Intangible Assets	1,034	1,063	1,062	1,060	1,057	1,055	1,053	1,104	1,096	1,094	1,089
Other Assets	3,831	3,792	3,822	3,977	3,695	3,836	3,547	3,653	3,852	3,706	3,342
Total Liabilities & Shareholders' Equity	88,474	88,573	87,230	87,269	87,060	87,606	87,032	87,992	88,893	88,533	87,957
Total Liabilities	83,778	83,389	81,947	81,954	81,231	81,581	80,647	81,665	82,297	81,668	80,661
Non-Interest Bearing Deposits	39,133	69,208	74,323	75,399	74,237	73,770	24,973	24,792	25,413	26,133	27,081
Interest Bearing Deposits	36,862	-	-	-	-	-	50,745	50,900	48,387	48,745	49,826
Federal Funds Purchased and Securities Sold	5,363	12,124	5,513	4,346	4,895	5,651	2,919	3,476	6,072	3,757	382
Long-Term Debt	647	663	538	540	544	546	548	964	970	1,473	1,963
Other Long-Term Liabilities	1,773	1,394	1,513	1,669	1,555	1,614	1,462	1,533	1,455	1,560	1,409
Total Equity & Noncontrolling Interests	4,696	5,184	5,283	5,315	5,829	6,025	6,385	6,327	6,596	6,865	7,296
Total Preferred & Common Equity	4,696	5,184	5,283	5,315	5,829	6,025	6,385	6,327	6,596	6,865	7,296
Preferred Stock	440	440	440	440	440	440	440	66	66	66	66
Total Common Equity	4,256	4,744	4,843	4,875	5,389	5,585	5,945	6,261	6,530	6,799	7,230
Common Stock	1,799	1,715	1,722	1,726	1,705	1,713	1,717	1,706	1,713	1,721	1,669
Retained Earnings	5,597	5,949	6,051	6,157	6,293	6,421	6,564	6,805	6,981	7,134	7,496
Accumulated Other Comprehensive Income / (Loss)	-3,140	-2,920	-2,930	-3,008	-2,609	-2,549	-2,336	-2,250	-2,164	-2,056	-1,935

This table displays calculated financial ratios and metrics derived from Zions Bancorporation, N.A.'s official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.20	$2.00	$2.71	$4.36	$4.41	$3.06	$6.80	$5.80	$4.35	$4.95	$6.01
Adjusted Weighted Average Basic Shares Outstanding	203.27M	203.86M	200.78M	193.59M	175.98M	163.74M	159.91M	150.06M	147.75M	147.21M	147.12M
Adjusted Diluted Earnings per Share	$1.20	$1.99	$2.60	$4.08	$4.16	$3.02	$6.79	$5.79	$4.35	$4.95	$6.01
Adjusted Weighted Average Diluted Shares Outstanding	203.70M	204.27M	209.65M	206.50M	186.50M	165.61M	160.23M	150.27M	147.76M	147.22M	147.16M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.41	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	204.51M	202.42M	196.51M	186.16M	164.92M	164.21M	151.57M	148.65M	148.16M	147.89M	147.89M
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Zions Bancorporation, N.A.'s official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	147,888,829.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	147,888,829.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.58
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.61%	-16.27%	-11.56%	-0.51%	3.53%	12.18%	7.14%	7.99%	8.71%	-	6.79%
EBITDA Growth	-15.38%	-59.61%	-26.10%	11.83%	17.05%	80.12%	18.06%	16.38%	1.94%	-	21.35%
EBIT Growth	-17.99%	-64.74%	-28.01%	15.93%	21.49%	101.49%	23.08%	19.08%	2.89%	-	23.01%
NOPAT Growth	-19.35%	-55.63%	-25.00%	14.86%	22.29%	71.43%	11.11%	21.39%	3.74%	-	37.06%
Net Income Growth	-19.35%	-55.63%	-25.00%	14.86%	22.29%	71.43%	11.11%	21.39%	3.74%	-	37.06%
EPS Growth	-19.29%	-57.38%	-27.82%	15.32%	21.24%	71.79%	17.71%	27.34%	8.03%	-	38.05%
Operating Cash Flow Growth	80.81%	-149.60%	18.10%	-58.03%	-61.74%	311.02%	-31.42%	-124.70%	268.07%	-	136.31%
Free Cash Flow Firm Growth	-109.19%	-117.51%	-127.84%	-183.56%	-156.38%	-11.01%	-100.54%	-36.79%	-36.92%	-	-131.95%
Invested Capital Growth	9.58%	12.43%	9.00%	12.88%	18.41%	13.49%	14.40%	15.14%	20.27%	-	26.99%
Revenue Q/Q Growth	-1.92%	-4.44%	1.50%	4.58%	2.06%	3.54%	-3.05%	5.41%	2.74%	-	-4.71%
EBITDA Q/Q Growth	0.76%	-37.12%	41.57%	24.68%	5.46%	-3.24%	-10.37%	27.24%	-7.62%	-	-11.96%
EBIT Q/Q Growth	0.89%	-41.23%	51.49%	29.06%	5.73%	-2.53%	-11.11%	30.00%	-8.65%	-	-13.27%
NOPAT Q/Q Growth	0.00%	-28.00%	21.43%	31.37%	6.47%	0.93%	-21.30%	43.53%	-9.02%	-	-11.41%
Net Income Q/Q Growth	0.00%	-28.00%	21.43%	31.37%	6.47%	0.93%	-21.30%	43.53%	-9.02%	-	-11.41%
EPS Q/Q Growth	1.80%	-30.97%	23.08%	33.33%	7.03%	-2.19%	-15.67%	44.25%	-9.20%	-	-11.86%
Operating Cash Flow Q/Q Growth	-47.99%	-178.78%	206.53%	-3.83%	-52.59%	334.45%	-65.38%	-134.64%	806.45%	-	-18.34%
Free Cash Flow Firm Q/Q Growth	-151.29%	-67.06%	33.75%	-47.19%	-57.38%	27.66%	-19.68%	-0.40%	-57.52%	-	-31.94%
Invested Capital Q/Q Growth	0.58%	6.46%	2.25%	3.11%	5.51%	2.03%	3.07%	3.77%	10.20%	-	7.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	34.51%	22.71%	31.67%	37.76%	39.02%	36.46%	33.71%	40.69%	36.59%	-	38.16%
EBIT Margin	29.80%	18.33%	27.36%	33.76%	34.97%	32.93%	30.19%	37.23%	33.10%	-	34.63%
Profit (Net Income) Margin	22.88%	17.24%	20.62%	25.90%	27.02%	26.34%	21.38%	29.12%	25.78%	-	27.44%
Tax Burden Percent	76.75%	84.00%	75.37%	76.72%	77.26%	80.00%	71.13%	78.21%	77.89%	-	79.25%
Interest Burden Percent	100.00%	111.94%	100.00%	100.00%	100.00%	100.00%	99.58%	100.00%	100.00%	-	100.00%
Effective Tax Rate	23.25%	16.00%	24.63%	23.28%	22.74%	20.00%	28.87%	21.79%	22.11%	-	20.75%
Return on Invested Capital (ROIC)	13.31%	9.12%	10.19%	12.60%	12.85%	12.39%	9.96%	13.37%	11.19%	-	11.41%
ROIC Less NNEP Spread (ROIC-NNEP)	13.31%	9.12%	10.19%	12.60%	12.85%	12.39%	9.96%	13.37%	11.19%	-	11.41%
Return on Net Nonoperating Assets (RNNOA)	1.58%	1.03%	1.12%	1.21%	1.20%	1.56%	1.24%	1.61%	1.71%	-	2.45%
Return on Equity (ROE)	14.88%	10.15%	11.30%	13.81%	14.05%	13.96%	11.20%	14.97%	12.90%	-	13.86%
Cash Return on Invested Capital (CROIC)	5.82%	-0.15%	1.69%	-1.53%	-6.01%	-0.86%	-1.71%	-2.14%	-7.24%	-	-12.16%
Operating Return on Assets (OROA)	1.10%	0.65%	0.94%	1.16%	1.22%	1.17%	1.10%	1.37%	1.25%	-	1.35%
Return on Assets (ROA)	0.85%	0.61%	0.71%	0.89%	0.94%	0.94%	0.78%	1.07%	0.97%	-	1.07%
Return on Common Equity (ROCE)	13.58%	9.30%	10.40%	12.73%	12.99%	13.36%	10.73%	14.37%	12.41%	-	13.72%
Return on Equity Simple (ROE_SIMPLE)	15.77%	0.00%	10.79%	10.87%	10.87%	0.00%	12.66%	12.80%	12.41%	-	13.19%
Net Operating Profit after Tax (NOPAT)	175	126	153	201	214	216	170	244	222	-	233
NOPAT Margin	22.88%	17.24%	20.62%	25.90%	27.02%	26.34%	21.38%	29.12%	25.78%	-	27.44%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
SG&A Expenses to Revenue	55.56%	56.77%	59.57%	56.31%	54.92%	53.54%	58.36%	54.06%	53.43%	-	57.60%
Operating Expenses to Revenue	64.84%	79.48%	70.89%	65.59%	63.38%	62.07%	67.67%	62.89%	61.21%	-	66.20%
Earnings before Interest and Taxes (EBIT)	228	134	203	262	277	270	240	312	285	-	294
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	264	166	235	293	309	299	268	341	315	-	324
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.00	1.18	1.15	1.12	1.16	1.31	1.18	1.15	1.22	-	1.18
Price to Tangible Book Value (P/TBV)	1.28	1.48	1.44	1.38	1.40	1.59	1.43	1.39	1.45	-	1.39
Price to Revenue (P/Rev)	1.50	2.00	2.06	2.07	2.26	2.54	2.32	2.32	2.50	-	2.48
Price to Earnings (P/E)	6.04	9.60	10.49	10.13	10.52	10.79	9.66	9.23	9.94	-	8.89
Dividend Yield	4.97%	3.91%	3.91%	3.87%	3.53%	3.08%	3.37%	3.33%	3.10%	-	3.09%
Earnings Yield	16.55%	10.42%	9.54%	9.87%	9.50%	9.27%	10.35%	10.83%	10.06%	-	11.24%
Enterprise Value to Invested Capital (EV/IC)	0.35	0.65	0.61	0.50	0.65	0.57	0.64	0.64	0.68	-	0.77
Enterprise Value to Revenue (EV/Rev)	0.63	1.30	1.30	1.10	1.48	1.28	1.46	1.50	1.70	-	2.08
Enterprise Value to EBITDA (EV/EBITDA)	1.62	4.02	4.22	3.45	4.49	3.53	3.95	3.98	4.59	-	5.29
Enterprise Value to EBIT (EV/EBIT)	1.83	4.67	4.95	4.00	5.14	3.97	4.40	4.40	5.06	-	5.80
Enterprise Value to NOPAT (EV/NOPAT)	2.43	5.97	6.22	5.05	6.49	5.12	5.81	5.77	6.63	-	7.42
Enterprise Value to Operating Cash Flow (EV/OCF)	1.25	4.59	4.23	5.72	11.67	3.50	4.37	6.47	5.27	-	5.42
Enterprise Value to Free Cash Flow (EV/FCFF)	6.25	0.00	37.98	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.10	0.10	0.09	0.09	0.09	0.16	0.15	0.15	0.21	-	0.27
Long-Term Debt to Equity	0.10	0.10	0.09	0.09	0.09	0.16	0.15	0.15	0.21	-	0.27
Financial Leverage	0.12	0.11	0.11	0.10	0.09	0.13	0.12	0.12	0.15	-	0.21
Leverage Ratio	17.56	16.70	15.95	15.46	14.90	14.89	14.40	13.98	13.25	-	12.92
Compound Leverage Factor	17.56	18.69	15.95	15.46	14.90	14.89	14.34	13.98	13.25	-	12.92
Debt to Total Capital	9.22%	8.70%	8.54%	8.31%	7.90%	13.43%	13.22%	12.82%	17.67%	-	21.20%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	9.22%	8.70%	8.54%	8.31%	7.90%	13.43%	13.22%	12.82%	17.67%	-	21.20%
Preferred Equity to Total Capital	7.51%	7.06%	6.90%	6.70%	6.35%	0.93%	0.91%	0.87%	0.79%	-	0.71%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	83.26%	84.25%	84.56%	84.99%	85.75%	85.64%	85.87%	86.31%	81.54%	-	78.09%
Debt to EBITDA	0.43	0.54	0.59	0.57	0.55	0.84	0.82	0.79	1.20	-	1.46
Net Debt to EBITDA	-2.62	-2.57	-2.96	-3.53	-2.80	-3.52	-2.37	-2.23	-2.19	-	-1.07
Long-Term Debt to EBITDA	0.43	0.54	0.59	0.57	0.55	0.84	0.82	0.79	1.20	-	1.46
Debt to NOPAT	0.64	0.80	0.86	0.83	0.79	1.21	1.20	1.15	1.73	-	2.04
Net Debt to NOPAT	-3.93	-3.82	-4.37	-5.16	-4.04	-5.11	-3.48	-3.24	-3.17	-	-1.50
Long-Term Debt to NOPAT	0.64	0.80	0.86	0.83	0.79	1.21	1.20	1.15	1.73	-	2.04
Noncontrolling Interest Sharing Ratio	8.79%	8.31%	7.99%	7.78%	7.52%	4.28%	4.16%	4.01%	3.82%	-	0.97%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-337	-563	-373	-549	-864	-625	-748	-751	-1,183	-	-1,735
Operating Cash Flow to CapEx	1,003.23%	-844.83%	870.00%	1,476.47%	540.91%	1,846.43%	662.96%	-200.00%	1,752.00%	-	1,692.00%
Free Cash Flow to Firm to Interest Expense	-0.79	-1.23	-0.80	-1.15	-1.79	-1.44	-1.85	-1.86	-3.02	-	-5.19
Operating Cash Flow to Interest Expense	0.73	-0.54	0.56	0.53	0.25	1.19	0.44	-0.15	1.12	-	1.27
Operating Cash Flow Less CapEx to Interest Expense	0.66	-0.60	0.49	0.49	0.20	1.12	0.38	-0.23	1.05	-	1.19
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.03	0.03	0.03	0.04	0.04	0.04	0.04	-	0.04
Fixed Asset Turnover	2.33	2.22	2.15	2.16	2.19	2.26	2.31	2.37	2.43	-	2.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,855	6,233	6,373	6,571	6,933	7,074	7,291	7,566	8,338	-	9,259
Invested Capital Turnover	0.58	0.53	0.49	0.49	0.48	0.47	0.47	0.46	0.43	-	0.42
Increase / (Decrease) in Invested Capital	512	689	526	750	1,078	841	918	995	1,405	-	1,968
Enterprise Value (EV)	2,037	4,062	3,912	3,309	4,506	4,013	4,655	4,871	5,646	-	7,141
Market Capitalization	4,888	6,221	6,219	6,252	6,871	7,951	7,374	7,536	8,281	-	8,521
Book Value per Share	$32.91	$35.44	$36.58	$37.82	$40.25	$41.01	$42.34	$44.25	$46.06	-	$48.89
Tangible Book Value per Share	$25.75	$28.30	$29.40	$30.68	$33.12	$33.89	$34.87	$36.82	$38.65	-	$41.52
Total Capital	5,855	6,233	6,373	6,571	6,933	7,074	7,291	7,566	8,338	-	9,259
Total Debt	540	542	544	546	548	950	964	970	1,473	-	1,963
Total Long-Term Debt	540	542	544	546	548	950	964	970	1,473	-	1,963
Net Debt	-3,291	-2,599	-2,747	-3,383	-2,805	-4,004	-2,785	-2,731	-2,701	-	-1,446
Capital Expenditures (CapEx)	31	29	30	17	22	28	27	31	25	-	25
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Nonoperating Obligations (NNO)	540	542	544	546	548	950	964	970	1,473	-	1,963
Total Depreciation and Amortization (D&A)	36	32	32	31	32	29	28	29	30	-	30
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.13	$0.78	$0.96	$1.28	$1.37	$1.34	$1.13	$1.63	$1.48	$1.77	$1.56
Adjusted Weighted Average Basic Shares Outstanding	147.65M	147.75M	147.34M	147.12M	147.14M	147.21M	147.32M	147.04M	147.05M	147.12M	146.95M
Adjusted Diluted Earnings per Share	$1.13	$0.78	$0.96	$1.28	$1.37	$1.34	$1.13	$1.63	$1.48	$1.77	$1.56
Adjusted Weighted Average Diluted Shares Outstanding	147.65M	147.76M	147.34M	147.12M	147.15M	147.22M	147.39M	147.05M	147.13M	147.16M	147.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	148.15M	148.16M	147.65M	147.70M	147.71M	147.89M	147.57M	147.62M	147.64M	147.89M	147.09M
Normalized Net Operating Profit after Tax (NOPAT)	175	126	153	201	214	216	170	244	222	-	233
Normalized NOPAT Margin	22.88%	17.24%	20.62%	25.90%	27.02%	26.34%	21.38%	29.12%	25.78%	-	27.44%
Pre Tax Income Margin	29.80%	20.52%	27.36%	33.76%	34.97%	32.93%	30.06%	37.23%	33.10%	-	34.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.54	0.29	0.43	0.55	0.57	0.62	0.59	0.77	0.73	-	0.88
NOPAT to Interest Expense	0.41	0.28	0.33	0.42	0.44	0.50	0.42	0.61	0.57	-	0.70
EBIT Less CapEx to Interest Expense	0.46	0.23	0.37	0.51	0.53	0.56	0.53	0.70	0.66	-	0.81
NOPAT Less CapEx to Interest Expense	0.34	0.21	0.26	0.39	0.40	0.43	0.35	0.53	0.50	-	0.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.41%	41.47%	45.15%	43.82%	41.21%	36.86%	35.46%	32.82%	32.04%	-	27.96%
Augmented Payout Ratio	45.47%	48.97%	50.87%	49.31%	46.40%	41.45%	40.70%	37.80%	36.97%	-	35.97%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Zions Bancorporation, N.A. (NASDAQ: ZION) based on quarterly statements across the last four years. The focus is on earnings, margins, and balance-sheet health that may interest retail investors evaluating the stock’s trajectory.

Net income attributable to common shareholders rose meaningfully in Q4 2025 to $262 million, up from $221 million in Q4 2024, with basic/diluted earnings per share at $1.77 in Q4 2025 versus $1.34 in Q4 2024.
Net interest income (NII) showed a rising trend through 2025, finishing Q4 2025 at $683 million (up from $672 million in Q3 2025), signaling improving net interest margins amid rate moves.
Total revenue strengthened in Q4 2025 to $891 million, up from $861 million in Q3 2025 and from about $820 million in Q4 2024, reflecting growth in both interest and non-interest income components.
Cash flow generation remained solid, with net cash from continuing operating activities around $517–$518 million in 2024–2025 (e.g., $517M in Q4 2024 and $518M in Q4 2025), indicating robust cash generation to support lending activity and potential shareholder returns.
The deposit base remains robust, with total deposits around $75 billion in late-2025 (non-interest bearing ~ $26.1B and interest-bearing ~ $48.7B), providing durable funding and liquidity headroom.

Loans and leases, net of allowance, held around $59.6 billion in late-2025, indicating a large, stable loan portfolio that continues to support revenue generation.
Total assets persisted in the high-80s billions range (roughly $88–89 billion across 2024–2025), reflecting a stable and sizable balance sheet base.
Provision for credit losses has been modest and variable by quarter (e.g., $6 million in Q4 2025 vs. $49 million in Q3 2025), suggesting prudent credit risk management under fluctuating conditions.

Quarterly cash flow can be volatile; for example, net cash from continuing operating activities was negative $62 million in Q2 2025, highlighting occasional near-term cash-flow pressure even as annual trends improve.
Net change in cash and equivalents was negative in multiple quarters (e.g., about -$88 million in Q4 2025), underscoring ongoing liquidity management and the impact of financing/investing activities on short-term cash positions.

05/15/26 06:11 AM ETAI Generated. May Contain Errors.

Zions Bancorporation, N.A. Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Zions Bancorporation, N.A.'s financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Zions Bancorporation, N.A.'s net income appears to be on an upward trend, with a most recent value of $899 million in 2025, rising from $309 million in 2015. The previous period was $784 million in 2024. See Zions Bancorporation, N.A.'s forecast for analyst expectations on what's next for the company.

Over the last 10 years, Zions Bancorporation, N.A.'s total revenue changed from $2.07 billion in 2015 to $3.39 billion in 2025, a change of 63.4%.

Zions Bancorporation, N.A.'s total liabilities were at $81.51 billion at the end of 2025, a 1.4% decrease from 2024, and a 56.3% increase since 2015.

In the past 10 years, Zions Bancorporation, N.A.'s cash and equivalents has ranged from $543 million in 2020 to $798.32 million in 2015, and is currently $683 million as of their latest financial filing in 2025.

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Financial statements for NASDAQ:ZION last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Zions Bancorporation, N.A. (ZION) Financials

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Zions Bancorporation, N.A. (ZION) Financials

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