TD Q4 2022 Earnings Report — The Toronto-Dominion Bank Revenue & Financial Results | Market Cap Arena

The Toronto-Dominion BankTD

Q4 2022 Earnings

Reported December 1, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2022	Q3 2022	Q4 2021	QoQ Change	YoY Change
Revenue	$13.9B	$11.1B	—	24.6%	—
Op. Income	$5.6B	$2.7B	—	110.4%	—
Gross Margin	59.5%	73.2%	—	-13.6pp	—
Net Margin	35.1%	21.1%	—	14.0pp	—
EPS (Diluted)	$2.65	$1.28	—	106.9%	—
Free Cash Flow	$1.6B	$13.6B	—	-88.6%	—

Revenue Flow

Item	Amount
REVENUE	$13.9B
Cost of Revenue	$5.6B
GROSS PROFIT	$8.3B
R&D Expenses	$0
Selling & Marketing	$295M
General & Administrative	$3.1B
SG&A Expenses	$3.4B
Other Expenses	-$732M
Operating Expenses	$2.7B
Cost & Expenses	$8.3B
OPERATING INCOME	$5.6B
Interest Income	$10.7B
Interest Expense	$5.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$5.6B
Income Tax Expense	$948M
Net Income from Continuing Ops	$4.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$212M
NET INCOME	$4.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.8B
D&A	$338M
EBIT	$5.6B
EBITDA	$5.9B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$13.9B
Cost of Revenue	$5.6B
GROSS PROFIT	$8.3B
R&D Expenses	$0
Selling & Marketing	$295M
General & Administrative	$3.1B
SG&A Expenses	$3.4B
Other Expenses	-$732M
Operating Expenses	$2.7B
Cost & Expenses	$8.3B
OPERATING INCOME	$5.6B
Interest Income	$10.7B
Interest Expense	$5.2B
Other Income/Expenses	$0
INCOME BEFORE TAX	$5.6B
Income Tax Expense	$948M
Net Income from Continuing Ops	$4.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$212M
NET INCOME	$4.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$4.8B
D&A	$338M
EBIT	$5.6B
EBITDA	$5.9B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$4.9B
Depreciation & Amortization	$338M
Stock-Based Compensation	$0
Deferred Income Tax	$343M
Other Non-Cash Items	-$495M
Change in Working Capital	-$3.2B
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$337M
Acquisitions (Net)	$1.8B
Purchases of Investments	-$27.7B
Sales/Maturities of Investments	$25.5B
Other Investing Activities	-$389M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$166M
Common Stock Repurchased	-$2.1B
Common Dividends Paid	-$1.6B
Other Financing Activities	$0
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	$1.6B
Net Change in Cash	$2.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$106.6B
Short-Term Investments	$8.1B
Net Receivables	$29.5B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$145.2B
PP&E (Net)	$6.9B
Goodwill	$12.9B
Intangible Assets	$1.7B
Long-Term Investments	$1.0T
Tax Assets	$1.6B
Other Non-Current Assets	$214.5B
TOTAL NON-CURRENT ASSETS	$1.3T
TOTAL ASSETS	$1.4T
Account Payables	$23.5B
Short-Term Debt	$251.4B
Deferred Revenue	$0
Other Current Liabilities	$827.5B
TOTAL CURRENT LIABILITIES	$1.1T
Long-Term Debt	$111.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$172M
Other Non-Current Liabilities	$98.9B
TOTAL NON-CURRENT LIABILITIES	$214.6B
TOTAL LIABILITIES	$1.3T
Common Stock	$17.8B
Additional Paid-In Capital	$131M
Retained Earnings	$53.9B
Treasury Stock	-$72M
Accum. Other Comp. Income	$1.5B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$81.4B
Minority Interest	$0
TOTAL EQUITY	$81.4B
TOTAL LIABILITIES & EQUITY	$1.4T
Total Debt	$366.9B
Net Debt	$260.3B