TD FY 2023 Earnings Report — The Toronto-Dominion Bank Revenue & Financial Results | Market Cap Arena

The Toronto-Dominion BankTD

FY 2023 Earnings

Reported November 30, 2023

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	$74.7B	—	$43.4B	—	72.0%
Op. Income	$10.0B	—	$15.6B	—	-35.8%
Gross Margin	47.5%	—	75.2%	—	-27.7pp
Net Margin	10.4%	—	29.3%	—	-18.9pp
EPS (Diluted)	$4.03	—	$6.92	—	-41.7%
Free Cash Flow	-$49.1B	—	$27.4B	—	-279.1%

Revenue Flow

Item	Amount
REVENUE	$74.7B
Cost of Revenue	$39.2B
GROSS PROFIT	$35.5B
R&D Expenses	$0
Selling & Marketing	$1.1B
General & Administrative	$15.2B
SG&A Expenses	$16.2B
Other Expenses	$9.2B
Operating Expenses	$25.5B
Cost & Expenses	$64.7B
OPERATING INCOME	$10.0B
Interest Income	$59.0B
Interest Expense	$37.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$10.0B
Income Tax Expense	$2.3B
Net Income from Continuing Ops	$7.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.4B
D&A	$1.4B
EBIT	$10.0B
EBITDA	$11.4B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$74.7B
Cost of Revenue	$39.2B
GROSS PROFIT	$35.5B
R&D Expenses	$0
Selling & Marketing	$1.1B
General & Administrative	$15.2B
SG&A Expenses	$16.2B
Other Expenses	$9.2B
Operating Expenses	$25.5B
Cost & Expenses	$64.7B
OPERATING INCOME	$10.0B
Interest Income	$59.0B
Interest Expense	$37.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$10.0B
Income Tax Expense	$2.3B
Net Income from Continuing Ops	$7.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.4B
D&A	$1.4B
EBIT	$10.0B
EBITDA	$11.4B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$7.8B
Depreciation & Amortization	$1.4B
Stock-Based Compensation	$0
Deferred Income Tax	-$954M
Other Non-Cash Items	$1.5B
Change in Working Capital	-$57.5B
OPERATING CASH FLOW	-$47.7B
Capital Expenditure	-$1.3B
Acquisitions (Net)	-$456M
Purchases of Investments	-$37.5B
Sales/Maturities of Investments	$64.7B
Other Investing Activities	$30.3B
NET CASH FROM INVESTING	$55.7B
Net Debt Issuance	-$1.7B
Common Stock Repurchased	-$9.7B
Common Dividends Paid	-$4.3B
Other Financing Activities	$292M
NET CASH FROM FINANCING	-$9.4B
FREE CASH FLOW	-$49.1B
Net Change in Cash	-$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$76.8B
Short-Term Investments	$8.4B
Net Receivables	$39.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$126.1B
PP&E (Net)	$6.9B
Goodwill	$13.6B
Intangible Assets	$2.0B
Long-Term Investments	$1.0T
Tax Assets	$2.9B
Other Non-Current Assets	$262.1B
TOTAL NON-CURRENT ASSETS	$1.3T
TOTAL ASSETS	$1.4T
Account Payables	$31.9B
Short-Term Debt	$281.2B
Deferred Revenue	$0
Other Current Liabilities	$808.2B
TOTAL CURRENT LIABILITIES	$1.1T
Long-Term Debt	$130.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$149M
Other Non-Current Liabilities	$87.4B
TOTAL NON-CURRENT LIABILITIES	$222.0B
TOTAL LIABILITIES	$1.3T
Common Stock	$18.6B
Additional Paid-In Capital	$113M
Retained Earnings	$53.4B
Treasury Stock	-$94M
Accum. Other Comp. Income	$2.0B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$81.9B
Minority Interest	$0
TOTAL EQUITY	$81.9B
TOTAL LIABILITIES & EQUITY	$1.4T
Total Debt	$415.6B
Net Debt	$338.8B