Ameriprise Financial (AMP) FY2023 results: revenue $15.5 billion, up 8.9% on the year
Ameriprise Financial Inc. (AMP) reported revenue of $15.5 billion for fiscal 2023, the year ended 31 December 2023, up 8.9% on the year before. Net income was $2.6 billion, down 18.8%, and diluted earnings per share $23.71. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$15.5 billion
+8.9% on the year
FY2016FY2023
Operating margin
20.8%
27.6% a year earlier
FY2016FY2023
Net income
$2.6 billion
-18.8% on the year
FY2016FY2023
Diluted EPS
$23.71
-14.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,685
4,407
3,325
+6.3%
Capital expenditure
184
182
120
+1.1%
Free cash flow
4,501
4,225
3,205
+6.5%
Free cash flow margin
29.0%
29.6%
24.0%
Cash from investing
-9,262
-13,583
-4,380
Cash from financing
4,411
8,430
1,723
-47.7%
Depreciation and amortisation
151
142
144
+6.3%
Share-based compensation
187
170
152
+10.0%
Buybacks
2,127
1,978
2,030
+7.5%
Dividends paid
550
534
511
+3.0%
Diluted shares, weighted
108m
114m
120m
-5.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,729
3,803
4,837
+24.3%
Deposits
37,321
30,775
20,227
+21.3%
Debt
5,755
5,385
5,196
+6.9%
Other liabilities
127,386
118,889
147,475
+7.1%
Total liabilities and equity
175,191
158,852
177,735
+10.3%
Fixed assets
681
630
590
+8.1%
Goodwill
1,410
1,389
1,458
+1.5%
Intangible assets
298
192
193
+55.2%
Securities borrowed
146
199
135
-26.6%
Cash and equivalents
8,620
8,755
9,569
-1.5%
Other assets
164,036
147,687
165,790
+11.1%
Total assets
175,191
158,852
177,735
+10.3%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.