Charles Schwab (SCHW) FY2017 results: revenue $8.6 billion, up 15.2% on the year
Charles Schwab Corp. (SCHW) reported revenue of $8.6 billion for fiscal 2017, the year ended 31 December 2017, up 15.2% on the year before. Net income was $2.4 billion, up 24.6%, and diluted earnings per share $1.61. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$8.6 billion
+15.2% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$2.4 billion
+24.6% on the year
FY2010FY2017
Diluted EPS
$1.61
+22.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
8,618
7,478
6,380
+15.2%
Interest expense
342
171
132
+100.0%
Pre-tax income
3,650
2,993
2,279
+22.0%
Income tax
1,296
1,104
832
+17.4%
Effective tax rate
35.5%
36.9%
36.5%
Net income
2,354
1,889
1,447
+24.6%
Net margin
27.3%
25.3%
22.7%
Diluted EPS
$1.61
$1.31
$1.03
+22.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-839
3,603
1,246
Capital expenditure
400
346
266
+15.6%
Free cash flow
-1,239
3,257
980
Free cash flow margin
-14.4%
43.6%
15.4%
Cash from investing
-20,473
-38,775
n/a
Cash from financing
22,599
34,963
n/a
-35.4%
Depreciation and amortisation
269
234
224
+15.0%
Share-based compensation
153
141
135
+8.5%
Buybacks
0.0
0.0
n/a
Dividends paid
592
486
387
+21.8%
Dividend per share
$0.32
$0.27
$0.24
+18.5%
Diluted shares, weighted
1,353m
1,334m
1,327m
+1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
18,525
16,421
13,402
+12.8%
Deposits
169,656
163,454
129,502
+3.8%
Short-term borrowings
15,000
0.0
n/a
Debt
4,753
2,876
2,877
+65.3%
Other liabilities
35,340
40,632
37,937
-13.0%
Total liabilities and equity
243,274
223,383
183,718
+8.9%
Fixed assets
1,471
1,299
1,145
+13.2%
Goodwill
1,227
1,227
1,227
0.0%
Intangible assets
108
144
181
-25.0%
Securities held for sale or to maturity
170,921
152,568
115,653
+12.0%
Loans
16,478
15,403
14,334
+7.0%
Securities borrowed
222
393
198
-43.5%
Cash and equivalents
14,217
10,828
11,978
+31.3%
Other assets
38,630
41,521
39,002
-7.0%
Total assets
243,274
223,383
183,718
+8.9%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.