SF FY 2018 Earnings Report — Stifel Financial Corp. Revenue & Financial Results | Market Cap Arena

Stifel Financial Corp.SF

FY 2018 Earnings

Reported February 20, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$3.2B	—	$3.0B	—	6.8%
Op. Income	$534M	—	$270M	—	98.3%
Gross Margin	94.0%	—	97.6%	—	-3.6pp
Net Margin	12.5%	—	6.2%	—	6.3pp
EPS (Diluted)	$3.15	—	$1.43	—	120.3%
Free Cash Flow	$421M	—	$652M	—	-35.4%

Revenue Flow

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$188M
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$659M
Operating Expenses	$2.4B
Cost & Expenses	$2.6B
OPERATING INCOME	$534M
Interest Income	$646M
Interest Expense	$170M
Other Income/Expenses	$0
INCOME BEFORE TAX	$534M
Income Tax Expense	$140M
Net Income from Continuing Ops	$394M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$394M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$385M
D&A	$40M
EBIT	$534M
EBITDA	$575M
EPS	$4
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$188M
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.8B
SG&A Expenses	$1.8B
Other Expenses	$659M
Operating Expenses	$2.4B
Cost & Expenses	$2.6B
OPERATING INCOME	$534M
Interest Income	$646M
Interest Expense	$170M
Other Income/Expenses	$0
INCOME BEFORE TAX	$534M
Income Tax Expense	$140M
Net Income from Continuing Ops	$394M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$394M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$385M
D&A	$40M
EBIT	$534M
EBITDA	$575M
EPS	$4
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$394M
Depreciation & Amortization	$40M
Stock-Based Compensation	$101M
Deferred Income Tax	$14M
Other Non-Cash Items	$146M
Change in Working Capital	-$166M
OPERATING CASH FLOW	$530M
Capital Expenditure	-$108M
Acquisitions (Net)	-$8M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$2.1B
Other Investing Activities	-$1.1B
NET CASH FROM INVESTING	-$989M
Net Debt Issuance	-$432M
Common Stock Repurchased	-$170M
Common Dividends Paid	-$35M
Other Financing Activities	$2.4B
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	$421M
Net Change in Cash	$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.9B
Short-Term Investments	$3.1B
Net Receivables	$1.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6.7B
PP&E (Net)	$373M
Goodwill	$1.0B
Intangible Assets	$120M
Long-Term Investments	$14.7B
Tax Assets	$112M
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$17.8B
TOTAL ASSETS	$24.5B
Account Payables	$1.6B
Short-Term Debt	$1.5B
Deferred Revenue	$0
Other Current Liabilities	$15.9B
TOTAL CURRENT LIABILITIES	$19.0B
Long-Term Debt	$1.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$565M
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$21.3B
Common Stock	$11M
Additional Paid-In Capital	$1.9B
Retained Earnings	$1.4B
Treasury Stock	-$181M
Accum. Other Comp. Income	-$73M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$30M
TOTAL EQUITY	$3.2B
TOTAL LIABILITIES & EQUITY	$24.5B
Total Debt	$3.3B
Net Debt	$1.3B