TD Q3 2022 Earnings Report — The Toronto-Dominion Bank Revenue & Financial Results | Market Cap Arena

The Toronto-Dominion BankTD

Q3 2022 Earnings

Reported August 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2022	Q2 2022	Q3 2021	QoQ Change	YoY Change
Revenue	$11.1B	$9.2B	$8.7B	21.0%	28.0%
Op. Income	$2.7B	$3.4B	$3.1B	-20.9%	-15.1%
Gross Margin	73.2%	86.7%	89.4%	-13.5pp	-16.2pp
Net Margin	21.1%	30.3%	29.8%	-9.2pp	-8.7pp
EPS (Diluted)	$1.28	$1.51	$1.40	-15.5%	-8.9%
Free Cash Flow	$13.6B	-$8.6B	$2.0B	259.4%	576.9%

Revenue Flow

Item	Amount
REVENUE	$11.1B
Cost of Revenue	$3.0B
GROSS PROFIT	$8.1B
R&D Expenses	$0
Selling & Marketing	$240M
General & Administrative	$3.0B
SG&A Expenses	$3.3B
Other Expenses	$2.2B
Operating Expenses	$5.5B
Cost & Expenses	$8.5B
OPERATING INCOME	$2.7B
Interest Income	$7.9B
Interest Expense	$2.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$514M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$196M
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$314M
EBIT	$2.7B
EBITDA	$3.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$11.1B
Cost of Revenue	$3.0B
GROSS PROFIT	$8.1B
R&D Expenses	$0
Selling & Marketing	$240M
General & Administrative	$3.0B
SG&A Expenses	$3.3B
Other Expenses	$2.2B
Operating Expenses	$5.5B
Cost & Expenses	$8.5B
OPERATING INCOME	$2.7B
Interest Income	$7.9B
Interest Expense	$2.7B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.7B
Income Tax Expense	$514M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$196M
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$314M
EBIT	$2.7B
EBITDA	$3.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.3B
Depreciation & Amortization	$314M
Stock-Based Compensation	$0
Deferred Income Tax	-$300M
Other Non-Cash Items	$30M
Change in Working Capital	$11.4B
OPERATING CASH FLOW	$13.8B
Capital Expenditure	-$186M
Acquisitions (Net)	$0
Purchases of Investments	-$26.5B
Sales/Maturities of Investments	$16.2B
Other Investing Activities	-$2.7B
NET CASH FROM INVESTING	-$13.2B
Net Debt Issuance	-$106M
Common Stock Repurchased	-$1.6B
Common Dividends Paid	-$1.1B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$552M
FREE CASH FLOW	$13.6B
Net Change in Cash	$30M

Balance Sheet

Item	Amount
Cash & Equivalents	$100.1B
Short-Term Investments	$50.6B
Net Receivables	$32.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$184.7B
PP&E (Net)	$6.6B
Goodwill	$12.2B
Intangible Assets	$1.6B
Long-Term Investments	$907.5B
Tax Assets	$1.5B
Other Non-Current Assets	$235.4B
TOTAL NON-CURRENT ASSETS	$1.2T
TOTAL ASSETS	$1.3T
Account Payables	$27.3B
Short-Term Debt	$227.0B
Deferred Revenue	$0
Other Current Liabilities	$820.4B
TOTAL CURRENT LIABILITIES	$1.1T
Long-Term Debt	$104.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$153M
Other Non-Current Liabilities	$84.5B
TOTAL NON-CURRENT LIABILITIES	$193.1B
TOTAL LIABILITIES	$1.3T
Common Stock	$17.4B
Additional Paid-In Capital	$124M
Retained Earnings	$50.5B
Treasury Stock	-$88M
Accum. Other Comp. Income	$1.7B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$75.0B
Minority Interest	$0
TOTAL EQUITY	$75.0B
TOTAL LIABILITIES & EQUITY	$1.3T
Total Debt	$335.4B
Net Debt	$235.3B