SF FY 2014 Earnings Report — Stifel Financial Corp. Revenue & Financial Results | Market Cap Arena

Stifel Financial Corp.SF

FY 2014 Earnings

Reported March 2, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$2.2B	—	$2.0B	—	11.6%
Op. Income	$291M	—	$185M	—	57.0%
Gross Margin	98.1%	—	97.7%	—	0.5pp
Net Margin	8.0%	—	8.2%	—	-0.2pp
EPS (Diluted)	$1.54	—	$1.47	—	4.8%
Free Cash Flow	$224M	—	$670M	—	-66.6%

Revenue Flow

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$41M
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.4B
SG&A Expenses	$1.4B
Other Expenses	$477M
Operating Expenses	$1.9B
Cost & Expenses	$1.9B
OPERATING INCOME	$291M
Interest Income	$186M
Interest Expense	$41M
Other Income/Expenses	$0
INCOME BEFORE TAX	$291M
Income Tax Expense	$112M
Net Income from Continuing Ops	$179M
Net Income from Discontinued Ops	-$3M
Other Adjustments	$0
NET INCOME	$176M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$176M
D&A	$42M
EBIT	$291M
EBITDA	$332M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.2B
Cost of Revenue	$41M
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.4B
SG&A Expenses	$1.4B
Other Expenses	$477M
Operating Expenses	$1.9B
Cost & Expenses	$1.9B
OPERATING INCOME	$291M
Interest Income	$186M
Interest Expense	$41M
Other Income/Expenses	$0
INCOME BEFORE TAX	$291M
Income Tax Expense	$112M
Net Income from Continuing Ops	$179M
Net Income from Discontinued Ops	-$3M
Other Adjustments	$0
NET INCOME	$176M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$176M
D&A	$42M
EBIT	$291M
EBITDA	$332M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$176M
Depreciation & Amortization	$42M
Stock-Based Compensation	$94M
Deferred Income Tax	$5M
Other Non-Cash Items	$31M
Change in Working Capital	-$98M
OPERATING CASH FLOW	$250M
Capital Expenditure	-$27M
Acquisitions (Net)	-$80M
Purchases of Investments	-$474M
Sales/Maturities of Investments	$856M
Other Investing Activities	-$668M
NET CASH FROM INVESTING	-$393M
Net Debt Issuance	$237M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$114M
NET CASH FROM FINANCING	$123M
FREE CASH FLOW	$224M
Net Change in Cash	-$27M

Balance Sheet

Item	Amount
Cash & Equivalents	$690M
Short-Term Investments	$1.5B
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$124M
Goodwill	$795M
Intangible Assets	$55M
Long-Term Investments	$4.6B
Tax Assets	$258M
Other Non-Current Assets	$388M
TOTAL NON-CURRENT ASSETS	$6.2B
TOTAL ASSETS	$9.5B
Account Payables	$638M
Short-Term Debt	$626M
Deferred Revenue	$0
Other Current Liabilities	$4.8B
TOTAL CURRENT LIABILITIES	$6.1B
Long-Term Debt	$708M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$434M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$7.2B
Common Stock	$10M
Additional Paid-In Capital	$1.6B
Retained Earnings	$716M
Treasury Stock	$0
Accum. Other Comp. Income	-$38M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$9.5B
Total Debt	$1.3B
Net Debt	$644M