ZIONS BANCORPORATION, NATIONAL ASSOCIATION

Financials Zions Bancorporation, National Association

Equities

ZION

US9897011071

Banks

Market Closed - Nasdaq Other stock markets 04:00:00 2026-03-12 pm EDT			5-day change	1st Jan Change
54.24 ^USD	-1.11%		-5.64%	-7.35%

Mar. 10	Zions Bancorporation, National Association Presents at RBC Capital Markets Global Financial Institutions Conference 2026, Mar-10-2026 11:20 AM
Mar. 09	Investors Confront Stagflation Risk

Projected Income Statement: Zions Bancorporation, National Association

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	2,943	3,189	3,156	3,175	3,431	3,523	3,683	3,798
Change	-	8.36%	-1.03%	0.6%	8.06%	2.68%	4.55%	3.13%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	1,202	1,311	1,059	1,129	1,293	1,313	1,380	1,357
Change	-	9.07%	-19.22%	6.61%	14.53%	1.52%	5.17%	-1.72%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	1,446	1,152	886	1,012	1,175	1,199	1,253	1,291
Change	-	-20.33%	-23.09%	14.22%	16.11%	2.02%	4.52%	3.06%
Net income ¹	1,100	878	648	737	895	910.5	950.4	980.4
Change	-	-20.18%	-26.2%	13.73%	21.44%	1.74%	4.37%	3.16%
Announcement Date	1/24/22	1/23/23	1/22/24	1/21/25	1/20/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	722	767	701	753	694	774	838	883	848	791	776	741	752	787	804	832	806	851	872	902	853.7	872.7	892.4	903	887.2	908.5	931.2	942.9
Change	-	6.23%	-8.6%	7.42%	-7.84%	11.53%	8.27%	5.37%	-3.96%	-6.72%	-1.9%	-4.51%	1.48%	4.65%	2.16%	3.48%	-3.12%	5.58%	2.47%	3.44%	-5.35%	2.22%	2.27%	1.18%	-1.75%	2.4%	2.49%	1.26%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	287	339	272	304	230	310	359	412	336	283	280	160	226	278	302	323	268	324	345	356	300.5	323.2	343.5	349.5	310.9	339.2	358.3	366.5
Change	-	18.12%	-19.76%	11.76%	-24.34%	34.78%	15.81%	14.76%	-18.45%	-15.77%	-1.06%	-42.86%	41.25%	23.01%	8.63%	6.95%	-17.03%	20.9%	6.48%	3.19%	-15.59%	7.54%	6.3%	1.74%	-11.06%	9.12%	5.62%	2.28%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	411	455	311	269	255	260	278	359	282	226	228	150	203	262	277	270	239	312	285	339	274.6	297.3	311.7	313.1	280.7	306.8	324.2	329.1
Change	-	10.71%	-31.65%	-13.5%	-5.2%	1.96%	6.92%	29.14%	-21.45%	-19.86%	0.88%	-34.21%	35.33%	29.06%	5.73%	-2.53%	-11.48%	30.54%	-8.65%	18.95%	-19.01%	8.29%	4.83%	0.45%	-10.35%	9.29%	5.67%	1.52%
Net income ¹	314	345	234	207	195	195	211	277	198	166	168	116	143	190	204	200	169	243	221	262	208	226.1	237.4	238.3	213.3	233.7	247.1	250.9
Change	-	9.87%	-32.17%	-11.54%	-5.8%	0%	8.21%	31.28%	-28.52%	-16.16%	1.2%	-30.95%	23.28%	32.87%	7.37%	-1.96%	-15.5%	43.79%	-9.05%	18.55%	-20.62%	8.73%	4.99%	0.38%	-10.5%	9.55%	5.77%	1.51%
Announcement Date	4/19/21	7/19/21	10/18/21	1/24/22	4/25/22	7/26/22	10/24/22	1/23/23	4/19/23	7/19/23	10/18/23	1/22/24	4/22/24	7/22/24	10/21/24	1/21/25	4/21/25	7/21/25	10/20/25	1/20/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Zions Bancorporation, National Association

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Announcement Date	1/24/22	1/23/23	1/22/24	1/21/25	1/20/26	-	-	-

Estimates

Cash Flow Forecast: Zions Bancorporation, National Association

Fiscal Period: December	2020	2021	2022	2023	2024	2025
CAPEX ¹	171	206	190	113	97	121
Change	-	20.47%	-7.77%	-40.53%	-14.16%	24.74%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	2/25/21	2/25/22	2/23/23	2/23/24	2/25/25	2/24/26

¹USD in Million

Estimates

Forecast Financial Ratios: Zions Bancorporation, National Association

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	40.84%	41.11%	33.56%	35.56%	37.69%	37.26%	37.48%	35.72%
EBT Margin (%)	-	49.13%	36.12%	28.07%	31.87%	34.25%	34.03%	34.02%	33.99%
Net margin (%)	-	37.38%	27.53%	20.53%	23.21%	26.09%	25.85%	25.8%	25.81%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	1.26%	0.96%	0.77%	0.84%	1.01%	1.01%	1.02%	0.96%
ROE	-	14.33%	14.21%	13.4%	12.48%	13.45%	12.42%	12%	11.52%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	1.44	1.58	1.64	1.66	1.76	1.828	1.891	2.089
Change	-	-	9.72%	3.8%	1.22%	6.02%	3.88%	3.45%	10.47%
Book Value Per Share ¹	-	46.32	29.95	35.44	40.97	48.18	53.55	58.23	62.62
Change	-	-	-35.34%	18.33%	15.6%	17.6%	11.14%	8.75%	7.53%
EPS ¹	-	6.79	5.79	4.35	4.95	6.01	6.214	6.556	6.891
Change	-	-	-14.73%	-24.87%	13.79%	21.41%	3.4%	5.5%	5.11%
Nbr of stocks (in thousands)	-	156,463	149,618	148,149	147,711	147,641	147,889	147,889	147,889
Announcement Date	-	1/24/22	1/23/23	1/22/24	1/21/25	1/20/26	-	-	-