Charles Schwab (SCHW) FY2018 results: revenue $10.1 billion, up 17.6% on the year
Charles Schwab Corp. (SCHW) reported revenue of $10.1 billion for fiscal 2018, the year ended 31 December 2018, up 17.6% on the year before. Net income was $3.5 billion, up 49.0%, and diluted earnings per share $2.45. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$10.1 billion
+17.6% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$3.5 billion
+49.0% on the year
FY2011FY2018
Diluted EPS
$2.45
+52.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
10,132
8,618
7,478
+17.6%
Interest expense
857
342
171
+150.6%
Pre-tax income
4,562
3,650
2,993
+25.0%
Income tax
1,055
1,296
1,104
-18.6%
Effective tax rate
23.1%
35.5%
36.9%
Net income
3,507
2,354
1,889
+49.0%
Net margin
34.6%
27.3%
25.3%
Diluted EPS
$2.45
$1.61
$1.31
+52.2%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
12,456
-839
3,603
Capital expenditure
570
400
346
+42.5%
Free cash flow
11,886
-1,239
3,257
Free cash flow margin
117.3%
-14.4%
43.6%
Cash from investing
-40,555
-20,473
-38,775
Cash from financing
47,166
22,599
34,963
+108.7%
Depreciation and amortisation
277
269
234
+3.0%
Share-based compensation
197
153
141
+28.8%
Buybacks
1,000
0.0
0.0
Dividends paid
787
592
486
+32.9%
Dividend per share
$0.46
$0.32
$0.27
+43.8%
Diluted shares, weighted
1,361m
1,353m
1,334m
+0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
20,670
18,525
16,421
+11.6%
Deposits
231,423
169,656
163,454
+36.4%
Short-term borrowings
0.0
15,000
0.0
Debt
6,878
4,753
2,876
+44.7%
Other liabilities
37,511
35,340
40,632
+6.1%
Total liabilities and equity
296,482
243,274
223,383
+21.9%
Fixed assets
1,769
1,471
1,299
+20.3%
Goodwill
1,227
1,227
1,227
0.0%
Intangible assets
152
108
144
+40.7%
Securities held for sale or to maturity
210,587
170,921
152,568
+23.2%
Loans
16,609
16,478
15,403
+0.8%
Securities borrowed
101
222
393
-54.5%
Cash and equivalents
27,938
14,217
10,828
+96.5%
Other assets
38,099
38,630
41,521
-1.4%
Total assets
296,482
243,274
223,383
+21.9%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.