TD Q1 2023 Earnings Report — The Toronto-Dominion Bank Revenue & Financial Results | Market Cap Arena

The Toronto-Dominion BankTD

Q1 2023 Earnings

Reported March 2, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2023	Q4 2022	Q1 2022	QoQ Change	YoY Change
Revenue	$17.0B	$13.9B	$9.1B	22.7%	88.1%
Op. Income	$1.6B	$5.6B	$3.3B	-70.9%	-50.2%
Gross Margin	52.8%	59.5%	89.6%	-6.8pp	-36.8pp
Net Margin	6.8%	35.1%	30.1%	-28.3pp	-23.4pp
EPS (Diluted)	$0.60	$2.65	$1.48	-77.3%	-59.4%
Free Cash Flow	$3.4B	$1.6B	$20.8B	118.5%	-83.6%

Revenue Flow

Item	Amount
REVENUE	$17.0B
Cost of Revenue	$8.0B
GROSS PROFIT	$9.0B
R&D Expenses	$0
Selling & Marketing	$229M
General & Administrative	$3.6B
SG&A Expenses	$3.8B
Other Expenses	$3.5B
Operating Expenses	$7.4B
Cost & Expenses	$15.4B
OPERATING INCOME	$1.6B
Interest Income	$13.2B
Interest Expense	$7.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$686M
Net Income from Continuing Ops	$947M
Net Income from Discontinued Ops	$0
Other Adjustments	$208M
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$315M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$17.0B
Cost of Revenue	$8.0B
GROSS PROFIT	$9.0B
R&D Expenses	$0
Selling & Marketing	$229M
General & Administrative	$3.6B
SG&A Expenses	$3.8B
Other Expenses	$3.5B
Operating Expenses	$7.4B
Cost & Expenses	$15.4B
OPERATING INCOME	$1.6B
Interest Income	$13.2B
Interest Expense	$7.5B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$686M
Net Income from Continuing Ops	$947M
Net Income from Discontinued Ops	$0
Other Adjustments	$208M
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$315M
EBIT	$1.6B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$315M
Stock-Based Compensation	$0
Deferred Income Tax	-$42M
Other Non-Cash Items	$297M
Change in Working Capital	$2.0B
OPERATING CASH FLOW	$3.7B
Capital Expenditure	-$295M
Acquisitions (Net)	$0
Purchases of Investments	-$13.1B
Sales/Maturities of Investments	$14.7B
Other Investing Activities	-$5.1B
NET CASH FROM INVESTING	-$3.9B
Net Debt Issuance	-$75M
Common Stock Repurchased	-$1.4B
Common Dividends Paid	-$821M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$887M
FREE CASH FLOW	$3.4B
Net Change in Cash	-$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$109.9B
Short-Term Investments	$51.0B
Net Receivables	$33.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$195.4B
PP&E (Net)	$6.7B
Goodwill	$12.6B
Intangible Assets	$1.7B
Long-Term Investments	$951.4B
Tax Assets	$1.8B
Other Non-Current Assets	$244.2B
TOTAL NON-CURRENT ASSETS	$1.2T
TOTAL ASSETS	$1.4T
Account Payables	$22.0B
Short-Term Debt	$287.0B
Deferred Revenue	$0
Other Current Liabilities	$804.0B
TOTAL CURRENT LIABILITIES	$1.1T
Long-Term Debt	$119.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$193M
Other Non-Current Liabilities	$88.5B
TOTAL NON-CURRENT LIABILITIES	$212.3B
TOTAL LIABILITIES	$1.3T
Common Stock	$18.3B
Additional Paid-In Capital	$135M
Retained Earnings	$53.7B
Treasury Stock	-$82M
Accum. Other Comp. Income	$1.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$81.7B
Minority Interest	$0
TOTAL EQUITY	$81.7B
TOTAL LIABILITIES & EQUITY	$1.4T
Total Debt	$410.6B
Net Debt	$300.7B