TD FY 2021 Earnings Report — The Toronto-Dominion Bank Revenue & Financial Results | Market Cap Arena

The Toronto-Dominion BankTD

FY 2021 Earnings

Reported December 2, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$34.9B	—	$39.9B	—	-12.6%
Op. Income	$12.5B	—	$8.7B	—	43.8%
Gross Margin	89.0%	—	66.0%	—	23.1pp
Net Margin	30.0%	—	21.8%	—	8.2pp
EPS (Diluted)	$5.64	—	$4.70	—	20.1%
Free Cash Flow	$35.8B	—	$166.9B	—	-78.5%

Revenue Flow

Item	Amount
REVENUE	$34.9B
Cost of Revenue	$3.8B
GROSS PROFIT	$31.1B
R&D Expenses	$0
Selling & Marketing	$879M
General & Administrative	$11.0B
SG&A Expenses	$11.9B
Other Expenses	$6.6B
Operating Expenses	$18.5B
Cost & Expenses	$22.3B
OPERATING INCOME	$12.5B
Interest Income	$21.6B
Interest Expense	$4.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$12.5B
Income Tax Expense	$2.6B
Net Income from Continuing Ops	$9.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$574M
NET INCOME	$10.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10.3B
D&A	$1.5B
EBIT	$12.5B
EBITDA	$14.0B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$34.9B
Cost of Revenue	$3.8B
GROSS PROFIT	$31.1B
R&D Expenses	$0
Selling & Marketing	$879M
General & Administrative	$11.0B
SG&A Expenses	$11.9B
Other Expenses	$6.6B
Operating Expenses	$18.5B
Cost & Expenses	$22.3B
OPERATING INCOME	$12.5B
Interest Income	$21.6B
Interest Expense	$4.0B
Other Income/Expenses	$0
INCOME BEFORE TAX	$12.5B
Income Tax Expense	$2.6B
Net Income from Continuing Ops	$9.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$574M
NET INCOME	$10.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$10.3B
D&A	$1.5B
EBIT	$12.5B
EBITDA	$14.0B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$10.4B
Depreciation & Amortization	$1.5B
Stock-Based Compensation	$0
Deferred Income Tax	$189M
Other Non-Cash Items	-$748M
Change in Working Capital	$25.2B
OPERATING CASH FLOW	$36.6B
Capital Expenditure	-$825M
Acquisitions (Net)	-$1.4B
Purchases of Investments	-$127.9B
Sales/Maturities of Investments	$97.5B
Other Investing Activities	-$533M
NET CASH FROM INVESTING	-$33.1B
Net Debt Issuance	-$402M
Common Stock Repurchased	-$8.1B
Common Dividends Paid	-$4.1B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$3.7B
FREE CASH FLOW	$35.8B
Net Change in Cash	-$376M

Balance Sheet

Item	Amount
Cash & Equivalents	$121.2B
Short-Term Investments	$21.0B
Net Receivables	$33.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$176.5B
PP&E (Net)	$6.7B
Goodwill	$11.9B
Intangible Assets	$1.6B
Long-Term Investments	$844.0B
Tax Assets	$1.7B
Other Non-Current Assets	$225.6B
TOTAL NON-CURRENT ASSETS	$1.1T
TOTAL ASSETS	$1.3T
Account Payables	$27.2B
Short-Term Debt	$199.6B
Deferred Revenue	$0
Other Current Liabilities	$798.8B
TOTAL CURRENT LIABILITIES	$1.0T
Long-Term Debt	$89.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$178M
Other Non-Current Liabilities	$68.2B
TOTAL NON-CURRENT LIABILITIES	$161.7B
TOTAL LIABILITIES	$1.2T
Common Stock	$16.9B
Additional Paid-In Capital	$126M
Retained Earnings	$46.7B
Treasury Stock	-$118M
Accum. Other Comp. Income	$5.2B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$72.9B
Minority Interest	$0
TOTAL EQUITY	$72.9B
TOTAL LIABILITIES & EQUITY	$1.3T
Total Debt	$292.9B
Net Debt	$171.7B