SF FY 2019 Earnings Report — Stifel Financial Corp. Revenue & Financial Results | Market Cap Arena

Stifel Financial Corp.SF

FY 2019 Earnings

Reported February 19, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$3.5B	—	$3.2B	—	10.1%
Op. Income	$599M	—	$534M	—	12.1%
Gross Margin	94.6%	—	94.0%	—	0.6pp
Net Margin	12.9%	—	12.5%	—	0.4pp
EPS (Diluted)	$3.66	—	$3.15	—	16.2%
Free Cash Flow	$469M	—	$421M	—	11.3%

Revenue Flow

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$188M
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.0B
SG&A Expenses	$2.0B
Other Expenses	$706M
Operating Expenses	$2.7B
Cost & Expenses	$2.9B
OPERATING INCOME	$599M
Interest Income	$725M
Interest Expense	$178M
Other Income/Expenses	$0
INCOME BEFORE TAX	$599M
Income Tax Expense	$149M
Net Income from Continuing Ops	$450M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$448M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$431M
D&A	$54M
EBIT	$599M
EBITDA	$654M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$188M
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.0B
SG&A Expenses	$2.0B
Other Expenses	$706M
Operating Expenses	$2.7B
Cost & Expenses	$2.9B
OPERATING INCOME	$599M
Interest Income	$725M
Interest Expense	$178M
Other Income/Expenses	$0
INCOME BEFORE TAX	$599M
Income Tax Expense	$149M
Net Income from Continuing Ops	$450M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$448M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$431M
D&A	$54M
EBIT	$599M
EBITDA	$654M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$450M
Depreciation & Amortization	$54M
Stock-Based Compensation	$102M
Deferred Income Tax	-$7M
Other Non-Cash Items	$27M
Change in Working Capital	$0
OPERATING CASH FLOW	$627M
Capital Expenditure	-$158M
Acquisitions (Net)	-$193M
Purchases of Investments	-$521M
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$1.2B
NET CASH FROM INVESTING	-$350M
Net Debt Issuance	-$353M
Common Stock Repurchased	-$215M
Common Dividends Paid	-$42M
Other Financing Activities	-$604M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$469M
Net Change in Cash	-$795M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$3.3B
Net Receivables	$2.0B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$6.4B
PP&E (Net)	$1.1B
Goodwill	$1.2B
Intangible Assets	$162M
Long-Term Investments	$14.4B
Tax Assets	$104M
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$18.2B
TOTAL ASSETS	$24.6B
Account Payables	$2.6B
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$15.3B
TOTAL CURRENT LIABILITIES	$19.0B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$627M
TOTAL NON-CURRENT LIABILITIES	$2.0B
TOTAL LIABILITIES	$20.9B
Common Stock	$17M
Additional Paid-In Capital	$1.9B
Retained Earnings	$1.7B
Treasury Stock	-$320M
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.6B
Minority Interest	$55M
TOTAL EQUITY	$3.7B
TOTAL LIABILITIES & EQUITY	$24.6B
Total Debt	$2.4B
Net Debt	$1.2B