ZION financial statements

The full income statement, balance sheet, and cash-flow statement for Zions Bancorporation N.A. (ZION), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 147.7M2024-09 147.7M2024-12 147.9M2025-03 147.6M2025-06 147.6M2025-09 147.6M2025-12 147.9M2026-03 147.1M2026-06 146.0M-1.2% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.38B YoY+8.1%	3.13B YoY+0.5%	3.12B YoY-1.2%	3.15B YoY+8.3%	2.91B YoY+4.3%
Lease income	15.0M YoY+15.4%	13.0M YoY-7.1%	14.0M YoY+0.0%	14.0M YoY+7.7%	13.0M YoY+8.3%
Noninterest income	758M YoY+8.3%	700M YoY+3.4%	677M YoY+7.1%	632M YoY-10.1%	703M YoY+22.5%
Noninterest expense	2.14B YoY+4.5%	2.05B YoY-2.4%	2.10B YoY+11.7%	1.88B YoY+7.9%	1.74B YoY+2.2%
Interest expense	—	—	1.51B YoY+715.7%	185M YoY+213.6%	59.0M YoY-61.2%
Interest & investment income	4.18B YoY-2.5%	4.29B YoY+8.8%	3.95B YoY+45.9%	2.71B YoY+19.3%	2.27B YoY-4.3%
Net interest income	2.63B YoY+8.1%	2.43B YoY-0.3%	2.44B YoY-3.3%	2.52B YoY+14.1%	2.21B YoY-0.4%
Income tax	276M YoY+21.1%	228M YoY+10.7%	206M YoY-15.9%	245M YoY-22.7%	317M YoY+138.3%
	899M YoY+14.7%	784M YoY+15.3%	680M YoY-25.0%	907M YoY-19.7%	1.13B YoY+109.5%
Preferred dividends	—	—	32.0M YoY+10.3%	29.0M YoY+0.0%	29.0M YoY-14.7%
Net income to common	895M YoY+21.4%	737M YoY+13.7%	648M YoY-26.2%	878M YoY-20.2%	1.10B YoY+117.8%
	$6.01 YoY+21.4%	$4.95 YoY+13.8%	$4.35 YoY-24.9%	$5.79 YoY-14.7%	$6.79 YoY+124.8%
EPS (basic)	$6.01 YoY+21.4%	$4.95 YoY+13.8%	$4.35 YoY-25.0%	$5.80 YoY-14.7%	$6.80 YoY+122.2%
	147M YoY-0.1%	147M YoY-0.4%	148M YoY-1.5%	150M YoY-6.2%	160M YoY-2.3%
	147M YoY-0.0%	147M YoY-0.4%	148M YoY-1.7%	150M YoY-6.2%	160M YoY-3.2%
Dividends per share	$1.76 YoY+6.0%	$1.66 YoY+1.2%	$1.64 YoY+3.8%	$1.58 YoY+9.7%	$1.44 YoY+5.9%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	683M YoY+4.9%	651M YoY-9.1%	716M YoY+9.0%	657M YoY+10.4%	595M YoY+9.6%
	88.7B YoY-0.1%	88.8B YoY+1.8%	87.2B YoY-2.6%	89.5B YoY-3.9%	93.2B YoY+14.4%
Property, plant & equipment	—	—	—	—	1.32B YoY+9.1%
Operating lease right-of-use	207M YoY+10.1%	188M YoY+9.3%	172M YoY-0.6%	173M YoY-11.3%	195M YoY-8.5%
Goodwill	1.06B YoY+3.2%	1.03B YoY+0.0%	1.03B YoY+0.0%	1.03B YoY+1.3%	1.01B YoY+0.0%
Intangible assets	31.0M YoY+24.0%	25.0M YoY-21.9%	32.0M YoY-15.8%	38.0M YoY+3700.0%	1.00M YoY-50.0%
Short-term & current debt	3.10B YoY-19.0%	3.83B YoY-12.5%	4.38B YoY-58.0%	10.4B YoY+1053.6%	903M YoY-42.6%
	81.5B YoY-1.4%	82.7B YoY+1.4%	81.5B YoY-3.7%	84.7B YoY-1.3%	85.7B YoY+16.5%
Long-term debt	1.47B YoY+55.6%	946M YoY+74.5%	542M YoY-16.7%	651M YoY-35.7%	1.01B YoY-24.3%
Operating lease liability (total)	257M YoY+7.1%	240M YoY+21.2%	198M YoY+0.0%	198M YoY-10.8%	222M YoY-7.5%
Finance lease liability (total)	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%
	7.18B YoY+17.2%	6.12B YoY+7.6%	5.69B YoY+16.3%	4.89B YoY-34.4%	7.46B YoY-5.4%
Preferred stock	66.0M YoY+0.0%	66.0M YoY-85.0%	440M YoY+0.0%	440M YoY+0.0%	440M YoY-22.3%
Additional paid-in capital	—	—	1.73B YoY-1.3%	1.75B YoY-9.0%	1.93B YoY-28.2%
Retained earnings	7.33B YoY+9.4%	6.70B YoY+7.9%	6.21B YoY+6.9%	5.81B YoY+12.3%	5.17B YoY+20.1%
Accumulated other comprehensive income	-1.94B YoY+18.4%	-2.38B YoY+11.6%	-2.69B YoY+13.5%	-3.11B YoY-3790.0%	-80.0M YoY-124.6%
Total liabilities & equity	88.7B YoY-0.1%	88.8B YoY+1.8%	87.2B YoY-2.6%	89.5B YoY-3.9%	93.2B YoY+14.4%
	148M YoY-0.1%	148M YoY-0.2%	148M YoY-0.3%	149M YoY-2.0%	152M YoY-7.6%
	148M YoY-0.1%	148M YoY-0.2%	148M YoY-0.3%	149M YoY-2.0%	152M YoY-7.6%
	148M YoY-0.0%	148M YoY-0.2%	148M YoY-0.3%	149M YoY-1.9%	152M YoY-7.7%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.07B YoY-6.5%	1.15B YoY+29.7%	885M YoY-39.8%	1.47B YoY+133.7%	629M YoY-12.5%
Depreciation & amortization	116M YoY-6.5%	124M YoY-11.4%	140M YoY+27.3%	110M YoY+885.7%	-14.0M YoY-116.3%
Share-based compensation	35.0M YoY+6.1%	33.0M YoY+0.0%	33.0M YoY+10.0%	30.0M YoY+7.1%	28.0M YoY+7.7%
Deferred income taxes	47.0M YoY+771.4%	-7.00M YoY+22.2%	-9.00M YoY+79.1%	-43.0M YoY-234.4%	32.0M YoY+155.2%
	738M YoY+145.0%	-1.64B YoY-169.2%	2.37B YoY+68.7%	1.41B YoY+112.1%	-11.6B YoY+5.1%
Capital expenditure	121M YoY+24.7%	97.0M YoY-14.2%	113M YoY-40.5%	190M YoY-7.8%	206M YoY+20.5%
Free cash flow	952M YoY-9.4%	1.05B YoY+36.1%	772M YoY-39.7%	1.28B YoY+202.6%	423M YoY-22.8%
Acquisitions	-191M	0.00	0.00 YoY+100.0%	-318M	0.00
Sales/maturities of investments	1.59B YoY-21.8%	2.03B YoY-13.2%	2.34B YoY-29.4%	3.31B YoY-30.3%	4.75B YoY+9.4%
Other investing activities	19.0M YoY+258.3%	-12.0M YoY-180.0%	15.0M YoY+155.6%	-27.0M YoY+12.9%	-31.0M YoY+26.2%
	-1.78B YoY-516.6%	427M YoY+113.4%	-3.20B YoY-13.6%	-2.81B YoY-125.6%	11.0B YoY-2.8%
Long-term debt issued	498M YoY+0.4%	496M	0.00	0.00	0.00
Long-term debt repaid	0.00 YoY-100.0%	88.0M YoY-31.3%	128M YoY-55.9%	290M YoY+1.4%	286M YoY-33.3%
Net short-term debt	-728M YoY-33.1%	-547M YoY+90.9%	-6.04B YoY-163.5%	9.51B YoY+1522.1%	-669M YoY-39.1%
Common stock issued	6.00M YoY-40.0%	10.0M YoY+233.3%	3.00M YoY-66.7%	9.00M YoY-57.1%	21.0M YoY+162.5%
Common stock repurchased	41.0M YoY+13.9%	36.0M YoY-29.4%	51.0M YoY-74.8%	202M YoY-74.8%	800M YoY+952.6%
Dividends paid	267M YoY-7.6%	289M YoY+2.5%	282M YoY+4.8%	269M YoY+3.1%	261M YoY+0.8%
Other financing activities	-11.0M YoY-57.1%	-7.00M YoY+22.2%	-9.00M YoY-12.5%	-8.00M YoY+38.5%	-13.0M YoY-62.5%
Net change in cash	32.0M YoY+149.2%	-65.0M YoY-210.2%	59.0M YoY-4.8%	62.0M YoY+19.2%	52.0M YoY+132.1%
Interest paid	1.57B YoY-17.7%	1.91B YoY+39.3%	1.37B YoY+755.0%	160M YoY+97.5%	81.0M YoY-58.5%
Income taxes paid	196M YoY+2.1%	192M YoY-24.7%	255M YoY+1114.3%	21.0M YoY-95.2%	442M YoY+161.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	8.66B YoY+7.9%	8.02B YoY+23.4%	6.50B YoY-11.6%	7.36B YoY-23.2%	9.57B YoY+34.2%
P/E	9.6× YoY-5.9%	10.2× YoY+31.9%	7.8× YoY-11.8%	8.8× YoY+3.8%	8.5× YoY-35.9%
P/S	2.6× YoY-0.2%	2.6× YoY+28.5%	2.0× YoY-18.0%	2.4× YoY-26.0%	3.3× YoY+28.6%
P/B	1.2× YoY-8.0%	1.3× YoY+7.1%	1.2× YoY-21.9%	1.6× YoY+22.1%	1.3× YoY+41.8%
P/FCF	9.1× YoY+19.1%	7.6× YoY+76.7%	4.3× YoY-45.1%	7.9× YoY-65.2%	22.6× YoY+73.9%
	10.4% YoY+6.3%	9.8% YoY-24.2%	12.9% YoY+13.4%	11.4% YoY-3.6%	11.8% YoY+56.1%
	11.0% YoY-16.1%	13.1% YoY-43.4%	23.1% YoY+82.0%	12.7% YoY+187.7%	4.4% YoY-42.5%
	3.0% YoY-1.7%	3.1% YoY-18.1%	3.7% YoY+16.3%	3.2% YoY+41.0%	2.3% YoY-27.2%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: ZION's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ZION filings on SEC EDGAR → Not investment advice.