TD FY 2008 Earnings Report — The Toronto-Dominion Bank Revenue & Financial Results | Market Cap Arena

The Toronto-Dominion BankTD

FY 2008 Earnings

Reported December 4, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$18.6B	—	$18.1B	—	2.6%
Op. Income	$3.0B	—	$3.4B	—	-12.0%
Gross Margin	52.4%	—	53.4%	—	-0.9pp
Net Margin	15.0%	—	16.1%	—	-1.1pp
EPS (Diluted)	$1.78	—	$2.00	—	-10.9%
Free Cash Flow	$14.2B	—	$2.7B	—	421.2%

Revenue Flow

Item	Amount
REVENUE	$18.6B
Cost of Revenue	$8.9B
GROSS PROFIT	$9.8B
R&D Expenses	$0
Selling & Marketing	$359M
General & Administrative	$3.6B
SG&A Expenses	$4.0B
Other Expenses	$2.8B
Operating Expenses	$6.8B
Cost & Expenses	$15.6B
OPERATING INCOME	$3.0B
Interest Income	$14.3B
Interest Expense	$8.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$392M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$226M
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$742M
EBIT	$3.0B
EBITDA	$3.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$18.6B
Cost of Revenue	$8.9B
GROSS PROFIT	$9.8B
R&D Expenses	$0
Selling & Marketing	$359M
General & Administrative	$3.6B
SG&A Expenses	$4.0B
Other Expenses	$2.8B
Operating Expenses	$6.8B
Cost & Expenses	$15.6B
OPERATING INCOME	$3.0B
Interest Income	$14.3B
Interest Expense	$8.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.0B
Income Tax Expense	$392M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$226M
NET INCOME	$2.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.8B
D&A	$742M
EBIT	$3.0B
EBITDA	$3.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.8B
Depreciation & Amortization	$742M
Stock-Based Compensation	$16M
Deferred Income Tax	$79M
Other Non-Cash Items	$330M
Change in Working Capital	$10.6B
OPERATING CASH FLOW	$14.6B
Capital Expenditure	-$389M
Acquisitions (Net)	-$1.3B
Purchases of Investments	-$87.7B
Sales/Maturities of Investments	$68.1B
Other Investing Activities	-$30.5B
NET CASH FROM INVESTING	-$51.8B
Net Debt Issuance	$2.2B
Common Stock Repurchased	-$1.8B
Common Dividends Paid	-$1.2B
Other Financing Activities	$35.4B
NET CASH FROM FINANCING	$37.6B
FREE CASH FLOW	$14.2B
Net Change in Cash	$531M

Balance Sheet

Item	Amount
Cash & Equivalents	$13.1B
Short-Term Investments	$54.9B
Net Receivables	$11.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$79.6B
PP&E (Net)	$2.8B
Goodwill	$10.8B
Intangible Assets	$2.3B
Long-Term Investments	$233.4B
Tax Assets	$0
Other Non-Current Assets	$83.7B
TOTAL NON-CURRENT ASSETS	$331.9B
TOTAL ASSETS	$411.6B
Account Payables	$9.1B
Short-Term Debt	$13.6B
Deferred Revenue	$0
Other Current Liabilities	$288.1B
TOTAL CURRENT LIABILITIES	$311.5B
Long-Term Debt	$9.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$67.8B
TOTAL NON-CURRENT LIABILITIES	$76.9B
TOTAL LIABILITIES	$388.4B
Common Stock	$9.7B
Additional Paid-In Capital	$256M
Retained Earnings	$13.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.2B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$23.1B
Minority Interest	$1.1B
TOTAL EQUITY	$24.3B
TOTAL LIABILITIES & EQUITY	$412.7B
Total Debt	$22.7B
Net Debt	$9.6B