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MARKETS / NASDAQ / ZION
NASDAQ · NATIONAL COMMERCIAL BANKS · LARGE CAP

Zions Bancorporation, National Association ZION

18 fiscal years on record · USD · FY2025 reported · SEC filings only
7 YEARS OF DIVIDEND GROWTH
$529.0M
▲ 3.1% YoY
$899.0M
▲ 14.7% YoY
$952.0M
▼ 9.4% YoY
In brief

What this company does

It provides a wide range of banking products and related services, primarily in 11 Western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. At December 31, 2025, it had more than one million customers, served through 407 branches and various online, mobile and digital channels, and 9,195 full-time equivalent employees. Its operations are organized principally through seven separately managed, geographically defined bank divisions, each operating under its own local brand and management team: Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington, which also operates as The Commerce Bank of Oregon in Oregon. It supports a broad range of commercial customers, primarily small- and medium-sized businesses. It offers customized financing solutions to help customers raise capital efficiently, execute strategic transactions and manage exposure to financial markets. Its wealth management solutions provide planning-driven strategies, personalized advisory services and asset management capabilities.

Written from the business description in ZIONS BANCORPORATION, NATIONAL ASSOCIATION's annual report to the U.S. Securities and Exchange Commission, filed 24 February 2026. Every sentence was checked against that document before publication.

Growth
USD 529.0M
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.5 · Net income 0.9
0.4B0.8B2008201120142017202020232025
Compound annual growth
+2.2%
+5.6%
−0.3%
+10.8%
+1.3%
+14.8%
+17.5%
+3.7%
+5.3%
+28.7%
−13.2%
−1.6%
+10.8%
+7.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.6% a year over five years — but profit grew faster: net income at +10.8%, earnings per share at +14.8%.

The share count fell from 0.16B to 0.15B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
170 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Net 169.9%
100%200%2008201120142017202020232025
ROE
FY2025 · ROE 13.5%
5%10%-10%-20%2008201120142017202020232025

Each USD of equity produced 14 cents of profit this year.

Cash & shareholders
USD 302.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 1.0
0.8B2008201120142017202020232025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.3 · Net buybacks 0.0
0.5B1.0BDividendsNet buybacks2008201120142017202020232025

USD 267.0M in dividends and USD 35.0M in buybacks — 34% of the year's profit went back to shareholders.

Total assetsUSD 89.0B
EquityUSD 7.2B
CashUSD 683.0M
Gross debtUSD 4.6B
Net debtUSD 3.9B
DepositsUSD 75.6B

Net debt stands at 54% of equity.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B0.50.50.50.50.40.40.40.4··········
Operating income $B··················
EBITDA $B··················
Income tax $B0.30.20.20.20.30.10.20.30.30.20.10.20.10.20.2−0.1−0.4−0.0
Net income $B0.90.80.70.91.10.50.80.90.60.50.30.40.30.30.3−0.3−1.2−0.3
Free cash flow $B1.01.10.81.30.40.50.61.00.80.40.30.20.70.71.01.61.01.1
EPS, diluted $6.014.954.355.796.793.024.164.082.601.991.201.681.580.970.83−2.48−9.92−2.68
Dividend / sh $1.761.661.641.581.441.361.281.04·0.000.000.000.000.040.040.040.101.61
Payout %303741302348322722233524453848−37−8−73
ROE %13.513.312.814.714.77.110.911.67.7··6.24.25.44.8−4.7−21.4·
Shares out B0.150.150.150.150.150.160.170.190.200.200.200.200.180.180.180.180.15·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 53 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 4 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityNational Commercial Banks
Listed onNASDAQ
Incorporated inUtah
Fiscal year endsDecember 31
Data on record since2008

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