Charles Schwab (SCHW) FY2014 results: revenue $6.1 billion, up 11.5% on the year
Charles Schwab Corp. (SCHW) reported revenue of $6.1 billion for fiscal 2014, the year ended 31 December 2014, up 11.5% on the year before. Net income was $1.3 billion, up 23.3%, and diluted earnings per share $0.95. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2015.
Revenue
$6.1 billion
+11.5% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$1.3 billion
+23.3% on the year
FY2007FY2014
Diluted EPS
$0.95
+21.8% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
6,058
5,435
4,883
+11.5%
Interest expense
102
105
150
-2.9%
Pre-tax income
2,115
1,705
1,450
+24.0%
Income tax
794
634
522
+25.2%
Effective tax rate
37.5%
37.2%
36.0%
Net income
1,321
1,071
928
+23.3%
Net margin
21.8%
19.7%
19.0%
Diluted EPS
$0.95
$0.78
$0.69
+21.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
2,348
1,656
1,266
+41.8%
Capital expenditure
400
249
148
+60.6%
Free cash flow
1,948
1,407
1,118
+38.5%
Free cash flow margin
32.2%
25.9%
22.9%
Cash from investing
n/a
n/a
-16,260
Cash from financing
n/a
n/a
18,978
Depreciation and amortisation
199
202
196
-1.5%
Share-based compensation
115
116
105
-0.9%
Dividends paid
373
368
337
+1.4%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
1,315m
1,293m
1,275m
+1.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
11,803
10,381
9,589
+13.7%
Deposits
102,815
92,972
79,377
+10.6%
Debt
1,899
1,903
1,632
-0.2%
Other liabilities
38,125
38,386
43,039
-0.7%
Total liabilities and equity
154,642
143,642
133,637
+7.7%
Fixed assets
1,039
790
675
+31.5%
Goodwill
1,227
1,227
1,228
0.0%
Intangible assets
227
266
319
-14.7%
Securities held for sale or to maturity
89,172
81,936
64,317
+8.8%
Loans
13,399
12,419
10,726
+7.9%
Securities borrowed
187
349
121
-46.4%
Cash and equivalents
11,363
7,728
12,663
+47.0%
Other assets
38,028
38,927
43,588
-2.3%
Total assets
154,642
143,642
133,637
+7.7%
10-K for the year ended 31 December 2014, filed 23 February 2015: the filing.