Filing Flows › Zions Bancorporation, National Association (ZION) › Q4 2025
Zions Bancorporation, National Association (ZION) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Zions Bancorporation, National Association (ZION) reported revenue of $891M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +3% from the quarter before. Operating margin was 38.0%, net earnings $263M (29.5% of revenue).
Zions Bancorporation, National Association, Q4 2025: revenue $891M (+9% year over year), operating margin 38.0%, net earnings $263M, operating cash flow $518M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $891M | +3% | +9% |
| Operating profit | $339M | +19% | +26% |
| Net earnings | $263M | +18% | +22% |
| Operating cash flow | $518M | +18% | +0.2% |
| Free cash flow | $480M | +16% | -2% |
What changed
Revenue was $891.0M in Q4 2025, up 9% year over year and up 3% from the previous quarter.
Operating profit was $339.0M, a 38.0% margin (up 5.1 points year over year). Of the extra revenue versus a year earlier, 97% reached operating profit, above the 33% margin then. Total costs grew 0% against revenue growth of 9%. Net earnings were $263.0M, up 22% year over year. The effective tax rate was 22.4%.
Operating cash flow was $518.0M (roughly flat year over year), 197% of net earnings. Non-cash charges added back $29.0M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items added $220.0M. Capital expenditures of $38.0M left free cash flow of $480.0M.
Questions
What was Zions Bancorporation, National Association's revenue in the fourth quarter 2025?
Zions Bancorporation, National Association (ZION) reported revenue of $891M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and +3% from the quarter before.
Was Zions Bancorporation, National Association profitable in the fourth quarter 2025?
Operating profit was $339M (38.0% of revenue) and net earnings $263M.
Source: Zions Bancorporation, National Association 10-K on SEC EDGAR.