$1.6 B

WDR Mkt cap, 11-Oct-2018

$593 M

Waddell & Reed Financial Revenue Q2, 2018
Waddell & Reed Financial Net income (Q2, 2018)90.2 M
Waddell & Reed Financial EBIT (Q2, 2018)118.2 M
Waddell & Reed Financial Cash, 30-Jun-2018240.4 M
Waddell & Reed Financial EV1.4 B

Waddell & Reed Financial Income Statement

Annual

usdFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

978.3m1.1b1.2b1.4b1.6b1.5b1.2b

Revenue growth, %

15%5%17%17%(5%)(18%)

General and administrative expense

86.4m104.6m105.1m84.0m

Operating expense total

86.4m104.6m105.1m84.0m

EBIT

384.6m484.4m415.9m236.4m

EBIT margin, %

28%30%27%19%

Interest expense

12.7m11.4m11.3m11.2m11.0m11.1m11.1m

Pre tax profit

393.2m490.2m399.5m224.5m

Income tax expense

86.9m104.7m108.5m140.2m176.8m154.0m76.2m

Net Income

253.0m313.3m245.5m148.3m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

297.6m593.0m

Sales and marketing expense

68.8m134.6m

General and administrative expense

27.9m25.5m19.2m19.3m23.3m25.7m28.2m27.8m19.5m38.7m

Operating expense total

27.9m25.5m19.2m19.3m23.3m25.7m28.2m27.8m88.3m173.3m

Depreciation and amortization

5.3m11.1m

EBIT

111.0m109.0m71.4m53.8m73.8m52.6m50.9m55.1m59.9m118.2m

EBIT margin, %

20%20%

Interest expense

2.8m2.8m2.8m2.8m2.8m2.8m2.8m2.8m1.8m3.4m

Pre tax profit

108.3m89.4m58.4m51.7m78.9m51.9m50.1m59.5m60.9m118.5m

Income tax expense

40.8m41.3m21.0m18.1m24.1m18.4m26.2m20.3m15.0m28.3m

Net Income

68.4m74.9m83.0m74.6m67.1m67.4m48.1m37.5m33.6m54.8m33.5m24.0m39.2m46.0m90.2m

Waddell & Reed Financial Balance Sheet

Annual

usdY, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

190.1m323.9m330.3m487.8m566.6m558.5m555.1m

Accounts Receivable

4.3m

Inventories

9.4m15.0m35.0m20.6m

Current Assets

1.0b1.2b1.2b1.1b

PP&E

72.6m92.3m105.4m102.4m

Total Assets

1.3b1.5b1.6b1.4b

Accounts Payable

18.8m32.3m32.9m28.0m

Short-term debt

Current Liabilities

419.7m463.0m443.2m297.0m

Long-term debt

190.0m190.0m190.0m189.6m

Total Debt

190.0m189.6m

Total Liabilities

551.6m

Additional Paid-in Capital

267.4m318.6m331.6m291.9m

Retained Earnings

850.6m1.0b1.1b1.1b

Total Equity

687.3m786.1m846.5m844.0m

Debt to Equity Ratio

0.2 x

Debt to Assets Ratio

0.1 x

Financial Leverage

1.9 x1.9 x1.8 x1.7 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

426.6m520.7m507.7m529.0m610.8m614.9m612.7m447.1m467.5m529.8m565.2m427.9m225.9m177.6m240.4m

Current Assets

884.5m1.0b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.1b1.0b1.0b

PP&E

70.3m82.8m83.0m86.6m97.4m98.2m100.4m106.8m105.9m105.8m99.1m95.5m91.7m82.5m77.2m

Total Assets

1.2b1.3b1.4b1.4b1.5b1.5b1.4b1.4b1.4b1.4b1.4b1.4b1.4b1.3b1.3b

Accounts Payable

16.3m17.8m19.6m19.6m21.7m24.9m23.6m20.7m25.4m27.3m25.3m28.6m31.4m36.8m36.2m

Current Liabilities

351.6m392.6m437.2m376.9m405.2m371.0m358.0m351.9m332.3m301.9m380.8m386.9m370.2m239.5m261.5m

Long-term debt

190.0m190.0m190.0m190.0m190.0m190.0m190.0m189.5m189.5m189.6m94.7m94.7m94.8m94.8m94.8m

Total Debt

190.0m190.0m190.0m190.0m190.0m190.0m190.0m189.5m189.5m189.6m94.7m94.7m94.8m94.8m94.8m

Total Liabilities

619.8m618.9m664.7m607.2m648.8m616.3m605.9m598.0m577.8m542.8m530.6m539.4m497.9m370.0m385.0m

Additional Paid-in Capital

251.3m283.7m299.1m313.1m331.5m317.5m330.8m344.3m279.2m293.1m274.1m282.6m296.1m283.8m302.1m

Retained Earnings

800.6m896.6m950.7m996.7m1.1b1.1b1.1b1.1b1.1b1.2b1.1b1.1b1.1b1.1b1.1b

Total Equity

612.4m729.5m772.3m791.8m828.6m845.6m836.9m835.2m817.6m845.5m848.9m844.2m870.3m889.0m885.7m

Financial Leverage

2 x1.8 x1.9 x1.8 x1.8 x1.7 x1.7 x1.7 x1.7 x1.7 x1.6 x1.7 x1.6 x1.4 x1.5 x

Waddell & Reed Financial Cash Flow

Annual

usdFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

253.0m313.3m245.5m148.3m

Depreciation and Amortization

13.7m14.8m16.0m18.4m

Accounts Receivable

(5.7m)(75.0m)(3.8m)

Cash From Operating Activities

286.9m345.0m234.0m123.6m

Purchases of PP&E

(16.9m)(35.6m)(29.6m)(15.7m)

Cash From Investing Activities

(39.1m)(22.6m)75.9m

Dividends Paid

(96.0m)(115.3m)(144.0m)(152.8m)

Cash From Financing Activities

(155.0m)(227.2m)(219.5m)(202.9m)

Interest Paid

10.3m10.3m10.3m10.3m

Income Taxes Paid

124.2m165.2m152.3m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

174.2m74.9m157.9m232.4m67.1m134.6m182.6m37.5m71.0m125.8m33.5m57.5m96.7m46.0m90.2m

Depreciation and Amortization

10.4m3.3m6.9m10.7m4.0m8.1m12.2m4.4m8.6m13.2m5.2m10.4m15.6m5.3m11.1m

Accounts Receivable

25.5m13.5m(63.4m)(24.3m)69.5m65.3m44.2m

Cash From Operating Activities

181.4m88.9m129.1m260.2m90.3m155.8m230.6m(47.3m)18.4m66.1m49.2m(37.3m)(16.6m)50.3m173.1m

Purchases of PP&E

(10.9m)(13.8m)(18.2m)(25.2m)(9.2m)(14.1m)(20.6m)(5.7m)(9.3m)(13.9m)(1.9m)(3.7m)(5.4m)(414.0k)(1.1m)

Cash From Investing Activities

32.6m(10.5m)(6.4m)(52.7m)(6.2m)(10.2m)(18.4m)948.0k15.3m69.3m10.2m(17.7m)(199.0m)56.3m49.7m

Dividends Paid

(72.1m)(29.0m)(58.0m)(86.8m)(36.0m)(72.2m)(108.2m)(38.1m)(76.6m)(114.7m)(38.8m)(77.2m)(115.7m)(20.9m)(41.5m)

Cash From Financing Activities

(117.7m)(45.5m)(102.8m)(166.4m)(39.8m)(97.4m)(166.2m)(65.0m)(124.8m)(164.1m)(49.3m)(72.2m)(113.6m)(131.9m)(192.5m)

Waddell & Reed Financial Ratios

USDY, 2018

EV/EBIT

12.1 x

EV/CFO

8.3 x

Financial Leverage

1.5 x
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