STC FY 2023 Earnings Report — Stewart Information Services Corporation Revenue & Financial Results | Market Cap Arena

Stewart Information Services CorporationSTC

FY 2023 Earnings

Reported February 28, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.3B	—	—	—	—
Op. Income	$61M	—	—	—	—
Gross Margin	96.4%	—	—	—	—
Net Margin	1.3%	—	—	—	—
EPS (Diluted)	$1.11	—	—	—	—
Free Cash Flow	$45M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$80M
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$713M
SG&A Expenses	$713M
Other Expenses	$1.4B
Operating Expenses	$2.1B
Cost & Expenses	$2.2B
OPERATING INCOME	$61M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$61M
Income Tax Expense	$15M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$62M
EBIT	$81M
EBITDA	$143M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$80M
GROSS PROFIT	$2.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$713M
SG&A Expenses	$713M
Other Expenses	$1.4B
Operating Expenses	$2.1B
Cost & Expenses	$2.2B
OPERATING INCOME	$61M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	$0
INCOME BEFORE TAX	$61M
Income Tax Expense	$15M
Net Income from Continuing Ops	$46M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$62M
EBIT	$81M
EBITDA	$143M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$30M
Depreciation & Amortization	$62M
Stock-Based Compensation	$11M
Deferred Income Tax	$0
Other Non-Cash Items	-$12M
Change in Working Capital	-$9M
OPERATING CASH FLOW	$83M
Capital Expenditure	-$38M
Acquisitions (Net)	-$25M
Purchases of Investments	-$93M
Sales/Maturities of Investments	$132M
Other Investing Activities	-$6M
NET CASH FROM INVESTING	-$30M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$51M
Other Financing Activities	-$15M
NET CASH FROM FINANCING	-$69M
FREE CASH FLOW	$45M
Net Change in Cash	-$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$233M
Short-Term Investments	$39M
Net Receivables	$125M
Inventory	$0
Other Current Assets	-$174M
TOTAL CURRENT ASSETS	$223M
PP&E (Net)	$272M
Goodwill	$1.1B
Intangible Assets	$193M
Long-Term Investments	$0
Tax Assets	$4M
Other Non-Current Assets	$939M
TOTAL NON-CURRENT ASSETS	$2.5B
TOTAL ASSETS	$2.7B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$445M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$25M
Other Non-Current Liabilities	$718M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.3B
Common Stock	$28M
Additional Paid-In Capital	$311M
Retained Earnings	$1.1B
Treasury Stock	-$3M
Accum. Other Comp. Income	-$35M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$7M
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$581M
Net Debt	$348M