Charles Schwab (SCHW) FY2013 results: revenue $5.4 billion, up 11.3% on the year
Charles Schwab Corp. (SCHW) reported revenue of $5.4 billion for fiscal 2013, the year ended 31 December 2013, up 11.3% on the year before. Net income was $1.1 billion, up 15.4%, and diluted earnings per share $0.78. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$5.4 billion
+11.3% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$1.1 billion
+15.4% on the year
FY2007FY2013
Diluted EPS
$0.78
+13.0% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
5,435
4,883
4,691
+11.3%
Interest expense
105
150
175
-30.0%
Pre-tax income
1,705
1,450
1,392
+17.6%
Income tax
634
522
528
+21.5%
Effective tax rate
37.2%
36.0%
37.9%
Net income
1,071
928
864
+15.4%
Net margin
19.7%
19.0%
18.4%
Diluted EPS
$0.78
$0.69
$0.70
+13.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,656
1,266
2,464
+30.8%
Capital expenditure
249
148
180
+68.2%
Free cash flow
1,407
1,118
2,284
+25.8%
Free cash flow margin
25.9%
22.9%
48.7%
Cash from investing
n/a
-16,260
-8,667
Cash from financing
n/a
18,978
9,951
Depreciation and amortisation
202
196
155
+3.1%
Share-based compensation
116
105
99.0
+10.5%
Dividends paid
368
337
295
+9.2%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
1,293m
1,275m
1,229m
+1.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
10,381
9,589
7,714
+8.3%
Deposits
92,972
79,377
60,854
+17.1%
Debt
1,903
1,632
2,001
+16.6%
Other liabilities
38,386
43,039
37,984
-10.8%
Total liabilities and equity
143,642
133,637
108,553
+7.5%
Fixed assets
790
675
685
+17.0%
Goodwill
1,227
1,228
1,161
-0.1%
Intangible assets
266
319
326
-16.6%
Securities held for sale or to maturity
81,936
64,317
15,108
+27.4%
Loans
12,419
10,726
9,812
+15.8%
Securities borrowed
349
121
n/a
+188.4%
Cash and equivalents
7,728
12,663
8,679
-39.0%
Other assets
38,927
43,588
72,782
-10.7%
Total assets
143,642
133,637
108,553
+7.5%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.