SCHW FY 2013 Earnings Report — The Charles Schwab Corporation Revenue & Financial Results | Market Cap Arena

The Charles Schwab CorporationSCHW

FY 2013 Earnings

Reported February 24, 2014

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	$5.5B	—	$5.0B	—	9.7%
Op. Income	$1.7B	—	$1.4B	—	17.6%
Gross Margin	98.1%	—	97.0%	—	1.1pp
Net Margin	19.3%	—	18.4%	—	1.0pp
EPS (Diluted)	$0.78	—	$0.69	—	13.0%
Free Cash Flow	$1.4B	—	$1.1B	—	25.8%

Revenue Flow

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$104M
GROSS PROFIT	$5.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.5B
Other Expenses	$1.2B
Operating Expenses	$3.7B
Cost & Expenses	$3.8B
OPERATING INCOME	$1.7B
Interest Income	$2.1B
Interest Expense	$105M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$634M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$202M
EBIT	$1.7B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.5B
Cost of Revenue	$104M
GROSS PROFIT	$5.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.5B
Other Expenses	$1.2B
Operating Expenses	$3.7B
Cost & Expenses	$3.8B
OPERATING INCOME	$1.7B
Interest Income	$2.1B
Interest Expense	$105M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$634M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$202M
EBIT	$1.7B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$202M
Stock-Based Compensation	$116M
Deferred Income Tax	-$21M
Other Non-Cash Items	$186M
Change in Working Capital	$102M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$249M
Acquisitions (Net)	$0
Purchases of Investments	-$39.0B
Sales/Maturities of Investments	$20.8B
Other Investing Activities	-$1.6B
NET CASH FROM INVESTING	-$20.1B
Net Debt Issuance	-$31M
Common Stock Repurchased	$0
Common Dividends Paid	-$368M
Other Financing Activities	$13.9B
NET CASH FROM FINANCING	$13.5B
FREE CASH FLOW	$1.4B
Net Change in Cash	-$4.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$7.7B
Short-Term Investments	$51.6B
Net Receivables	$15.0B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$74.4B
PP&E (Net)	$790M
Goodwill	$1.2B
Intangible Assets	$266M
Long-Term Investments	$43.4B
Tax Assets	$28M
Other Non-Current Assets	$23.6B
TOTAL NON-CURRENT ASSETS	$69.3B
TOTAL ASSETS	$143.6B
Account Payables	$36.8B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$93.0B
TOTAL CURRENT LIABILITIES	$131.4B
Long-Term Debt	$1.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$131.4B
TOTAL NON-CURRENT LIABILITIES	$133.3B
TOTAL LIABILITIES	$133.3B
Common Stock	$15M
Additional Paid-In Capital	$4.0B
Retained Earnings	$9.3B
Treasury Stock	-$3.7B
Accum. Other Comp. Income	$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.4B
Minority Interest	$0
TOTAL EQUITY	$10.4B
TOTAL LIABILITIES & EQUITY	$143.6B
Total Debt	$1.9B
Net Debt	-$5.8B