TD FY 2009 Earnings Report — The Toronto-Dominion Bank Revenue & Financial Results | Market Cap Arena

The Toronto-Dominion BankTD

FY 2009 Earnings

Reported December 3, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$18.6B	—	$18.6B	—	-0.0%
Op. Income	$2.3B	—	$3.0B	—	-22.8%
Gross Margin	60.6%	—	52.4%	—	8.1pp
Net Margin	12.3%	—	15.0%	—	-2.8pp
EPS (Diluted)	$1.27	—	$1.78	—	-28.7%
Free Cash Flow	$17.4B	—	$14.2B	—	22.5%

Revenue Flow

Item	Amount
REVENUE	$18.6B
Cost of Revenue	$7.3B
GROSS PROFIT	$11.3B
R&D Expenses	$0
Selling & Marketing	$414M
General & Administrative	$4.3B
SG&A Expenses	$4.7B
Other Expenses	$4.3B
Operating Expenses	$8.9B
Cost & Expenses	$16.3B
OPERATING INCOME	$2.3B
Interest Income	$13.8B
Interest Expense	$5.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$176M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$221M
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$916M
EBIT	$2.3B
EBITDA	$3.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$18.6B
Cost of Revenue	$7.3B
GROSS PROFIT	$11.3B
R&D Expenses	$0
Selling & Marketing	$414M
General & Administrative	$4.3B
SG&A Expenses	$4.7B
Other Expenses	$4.3B
Operating Expenses	$8.9B
Cost & Expenses	$16.3B
OPERATING INCOME	$2.3B
Interest Income	$13.8B
Interest Expense	$5.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$176M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$221M
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$916M
EBIT	$2.3B
EBITDA	$3.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.3B
Depreciation & Amortization	$916M
Stock-Based Compensation	$0
Deferred Income Tax	$246M
Other Non-Cash Items	$1.8B
Change in Working Capital	$12.8B
OPERATING CASH FLOW	$18.0B
Capital Expenditure	-$599M
Acquisitions (Net)	$0
Purchases of Investments	-$67.5B
Sales/Maturities of Investments	$55.6B
Other Investing Activities	-$14.3B
NET CASH FROM INVESTING	-$26.8B
Net Debt Issuance	-$42M
Common Stock Repurchased	-$1.3B
Common Dividends Paid	-$1.3B
Other Financing Activities	$8.0B
NET CASH FROM FINANCING	$8.9B
FREE CASH FLOW	$17.4B
Net Change in Cash	-$75M

Balance Sheet

Item	Amount
Cash & Equivalents	$15.7B
Short-Term Investments	$62.0B
Net Receivables	$8.8B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$86.5B
PP&E (Net)	$3.0B
Goodwill	$11.0B
Intangible Assets	$1.9B
Long-Term Investments	$233.9B
Tax Assets	$0
Other Non-Current Assets	$72.7B
TOTAL NON-CURRENT ASSETS	$320.7B
TOTAL ASSETS	$407.2B
Account Payables	$9.6B
Short-Term Debt	$12.0B
Deferred Revenue	$0
Other Current Liabilities	$298.7B
TOTAL CURRENT LIABILITIES	$321.2B
Long-Term Debt	$9.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$172M
Other Non-Current Liabilities	$48.4B
TOTAL NON-CURRENT LIABILITIES	$57.7B
TOTAL LIABILITIES	$378.9B
Common Stock	$11.2B
Additional Paid-In Capital	$246M
Retained Earnings	$13.6B
Treasury Stock	-$11M
Accum. Other Comp. Income	$742M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$28.3B
Minority Interest	$1.1B
TOTAL EQUITY	$29.4B
TOTAL LIABILITIES & EQUITY	$408.3B
Total Debt	$21.1B
Net Debt	$5.4B