Charles Schwab (SCHW) FY2019 results: revenue $10.7 billion, up 5.8% on the year
Charles Schwab Corp. (SCHW) reported revenue of $10.7 billion for fiscal 2019, the year ended 31 December 2019, up 5.8% on the year before. Net income was $3.7 billion, up 5.6%, and diluted earnings per share $2.67. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$10.7 billion
+5.8% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$3.7 billion
+5.6% on the year
FY2012FY2019
Diluted EPS
$2.67
+9.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
10,721
10,132
8,618
+5.8%
Interest expense
1,064
857
342
+24.2%
Pre-tax income
4,848
4,562
3,650
+6.3%
Income tax
1,144
1,055
1,296
+8.4%
Effective tax rate
23.6%
23.1%
35.5%
Net income
3,704
3,507
2,354
+5.6%
Net margin
34.5%
34.6%
27.3%
Diluted EPS
$2.67
$2.45
$1.61
+9.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
9,325
12,456
-839
-25.1%
Capital expenditure
708
570
400
+24.2%
Free cash flow
8,617
11,886
-1,239
-27.5%
Free cash flow margin
80.4%
117.3%
-14.4%
Cash from investing
11,964
-40,555
-20,473
Cash from financing
-13,939
47,166
22,599
Depreciation and amortisation
322
277
269
+16.2%
Share-based compensation
183
197
153
-7.1%
Buybacks
2,220
1,000
0.0
+122.0%
Dividends paid
1,060
787
592
+34.7%
Dividend per share
$0.68
$0.46
$0.32
+47.8%
Diluted shares, weighted
1,320m
1,361m
1,353m
-3.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
21,745
20,670
18,525
+5.2%
Deposits
220,094
231,423
169,656
-4.9%
Short-term borrowings
n/a
0.0
15,000
Debt
7,430
6,878
4,753
+8.0%
Other liabilities
44,736
37,511
35,340
+19.3%
Total liabilities and equity
294,005
296,482
243,274
-0.8%
Fixed assets
2,128
1,769
1,471
+20.3%
Goodwill
1,227
1,227
1,227
0.0%
Intangible assets
128
152
108
-15.8%
Securities held for sale or to maturity
196,128
210,587
170,921
-6.9%
Loans
18,212
16,609
16,478
+9.7%
Securities borrowed
735
101
222
+627.7%
Cash and equivalents
29,345
27,938
14,217
+5.0%
Other assets
46,102
38,099
38,630
+21.0%
Total assets
294,005
296,482
243,274
-0.8%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.