SF FY 2013 Earnings Report — Stifel Financial Corp. Revenue & Financial Results | Market Cap Arena

Stifel Financial Corp.SF

FY 2013 Earnings

Reported March 3, 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	$2.0B	—	$1.6B	—	24.1%
Op. Income	$185M	—	$230M	—	-19.4%
Gross Margin	97.7%	—	97.9%	—	-0.3pp
Net Margin	8.2%	—	8.7%	—	-0.5pp
EPS (Diluted)	$1.47	—	$1.47	—	0.0%
Free Cash Flow	$670M	—	-$283M	—	336.6%

Revenue Flow

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$46M
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$440M
Operating Expenses	$1.8B
Cost & Expenses	$1.8B
OPERATING INCOME	$185M
Interest Income	$143M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$185M
Income Tax Expense	$12M
Net Income from Continuing Ops	$173M
Net Income from Discontinued Ops	-$11M
Other Adjustments	$0
NET INCOME	$162M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$162M
D&A	$46M
EBIT	$185M
EBITDA	$231M
EPS	$2
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$46M
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$440M
Operating Expenses	$1.8B
Cost & Expenses	$1.8B
OPERATING INCOME	$185M
Interest Income	$143M
Interest Expense	$46M
Other Income/Expenses	$0
INCOME BEFORE TAX	$185M
Income Tax Expense	$12M
Net Income from Continuing Ops	$173M
Net Income from Discontinued Ops	-$11M
Other Adjustments	$0
NET INCOME	$162M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$162M
D&A	$46M
EBIT	$185M
EBITDA	$231M
EPS	$2
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$162M
Depreciation & Amortization	$46M
Stock-Based Compensation	$137M
Deferred Income Tax	-$26M
Other Non-Cash Items	$101M
Change in Working Capital	$282M
OPERATING CASH FLOW	$702M
Capital Expenditure	-$32M
Acquisitions (Net)	-$89M
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$620M
Other Investing Activities	-$203M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$310M
Common Stock Repurchased	-$14M
Common Dividends Paid	$0
Other Financing Activities	$1.0B
NET CASH FROM FINANCING	$715M
FREE CASH FLOW	$670M
Net Change in Cash	$313M

Balance Sheet

Item	Amount
Cash & Equivalents	$717M
Short-Term Investments	$1.8B
Net Receivables	$912M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$106M
Goodwill	$727M
Intangible Assets	$50M
Long-Term Investments	$4.0B
Tax Assets	$244M
Other Non-Current Assets	$469M
TOTAL NON-CURRENT ASSETS	$5.6B
TOTAL ASSETS	$9.0B
Account Payables	$663M
Short-Term Debt	$745M
Deferred Revenue	$0
Other Current Liabilities	$4.7B
TOTAL CURRENT LIABILITIES	$6.1B
Long-Term Debt	$408M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$412M
TOTAL NON-CURRENT LIABILITIES	$879M
TOTAL LIABILITIES	$7.0B
Common Stock	$10M
Additional Paid-In Capital	$1.5B
Retained Earnings	$540M
Treasury Stock	-$64.0K
Accum. Other Comp. Income	-$35M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$9.0B
Total Debt	$1.2B
Net Debt	$492M