FLG FY 2013 Earnings Report — Flagstar Financial, Inc. Revenue & Financial Results | Market Cap Arena

Flagstar Financial, Inc.FLG

FY 2013 Earnings

Reported December 31, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$1.9B	—	$2.1B	—	-7.7%
Op. Income	$747M	—	$781M	—	-4.3%
Gross Margin	70.1%	—	66.6%	—	3.6pp
Net Margin	24.8%	—	24.1%	—	0.7pp
EPS (Diluted)	$3.23	—	$3.40	—	-5.0%
Free Cash Flow	$1.3B	—	$537M	—	149.2%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$572M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$478M
SG&A Expenses	$478M
Other Expenses	$119M
Operating Expenses	$597M
Cost & Expenses	$1.2B
OPERATING INCOME	$747M
Interest Income	$1.7B
Interest Expense	$541M
Other Income/Expenses	$0
INCOME BEFORE TAX	$747M
Income Tax Expense	$272M
Net Income from Continuing Ops	$476M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$476M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$473M
D&A	$44M
EBIT	$747M
EBITDA	$791M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$572M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$478M
SG&A Expenses	$478M
Other Expenses	$119M
Operating Expenses	$597M
Cost & Expenses	$1.2B
OPERATING INCOME	$747M
Interest Income	$1.7B
Interest Expense	$541M
Other Income/Expenses	$0
INCOME BEFORE TAX	$747M
Income Tax Expense	$272M
Net Income from Continuing Ops	$476M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$476M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$473M
D&A	$44M
EBIT	$747M
EBITDA	$791M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$476M
Depreciation & Amortization	$44M
Stock-Based Compensation	$22M
Deferred Income Tax	$25M
Other Non-Cash Items	$7.1B
Change in Working Capital	-$6.3B
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$37M
Acquisitions (Net)	$0
Purchases of Investments	-$4.6B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$2.1B
NET CASH FROM INVESTING	-$5.2B
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$5M
Common Dividends Paid	-$440M
Other Financing Activities	$785M
NET CASH FROM FINANCING	$2.0B
FREE CASH FLOW	$1.3B
Net Change in Cash	-$1.8B

Balance Sheet

Item	Amount
Cash & Equivalents	$645M
Short-Term Investments	$281M
Net Receivables	$594M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$273M
Goodwill	$2.4B
Intangible Assets	$257M
Long-Term Investments	$40.3B
Tax Assets	$0
Other Non-Current Assets	$1.9B
TOTAL NON-CURRENT ASSETS	$45.2B
TOTAL ASSETS	$46.7B
Account Payables	$0
Short-Term Debt	$3.9B
Deferred Revenue	$0
Other Current Liabilities	$25.7B
TOTAL CURRENT LIABILITIES	$29.5B
Long-Term Debt	$11.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$191M
TOTAL NON-CURRENT LIABILITIES	$11.4B
TOTAL LIABILITIES	$41.0B
Common Stock	$4M
Additional Paid-In Capital	$5.3B
Retained Earnings	$423M
Treasury Stock	-$1M
Accum. Other Comp. Income	-$36M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.7B
Minority Interest	$0
TOTAL EQUITY	$5.7B
TOTAL LIABILITIES & EQUITY	$46.7B
Total Debt	$15.1B
Net Debt	$14.5B