Waddell & Reed Financial (WDR) Financials

$1.6 B

Mkt cap, 23-May-2018

$297.6 M

Revenue Q1, 2018
Net income (Q1, 2018)46 M
EBIT (Q1, 2018)59.9 M
Cash, 31-Mar-2018177.6 M
EV1.5 B

Revenue/Financials

Income Statement

Annual

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

Revenue

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

Revenue growth, %

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

General and administrative expense

86.4 m104.6 m105.1 m84 m

Operating expense total

86.4 m104.6 m105.1 m84 m

EBIT

384.6 m484.4 m415.9 m236.4 m

EBIT margin, %

28%30%27%19%

Interest expense

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

Pre tax profit

393.2 m490.2 m399.5 m224.5 m

Income tax expense

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

Net Income

253 m313.3 m245.5 m148.3 m

Quarterly

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

Revenue

297.6 m

Sales and marketing expense

68.8 m

General and administrative expense

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

Operating expense total

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

Depreciation and amortization

5.3 m

EBIT

111 m109 m71.4 m53.8 m73.8 m52.6 m50.9 m55.1 m59.9 m

EBIT margin, %

20%

Interest expense

2.8 m2.8 m2.8 m2.8 m2.8 m2.8 m2.8 m2.8 m1.8 m

Pre tax profit

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

Income tax expense

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

Net Income

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

Balance Sheet

Annual

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

Cash

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

Accounts Receivable

4.3 m

Inventories

9.4 m15 m35 m20.6 m

Current Assets

1 b1.2 b1.2 b1.1 b

PP&E

72.6 m92.3 m105.4 m102.4 m

Total Assets

1.3 b1.5 b1.6 b1.4 b

Accounts Payable

18.8 m32.3 m32.9 m28 m

Short-term debt

Current Liabilities

419.7 m463 m443.2 m297 m

Long-term debt

190 m190 m190 m189.6 m

Total Debt

190 m189.6 m

Total Liabilities

551.6 m

Additional Paid-in Capital

267.4 m318.6 m331.6 m291.9 m

Retained Earnings

850.6 m1 b1.1 b1.1 b

Total Equity

687.3 m786.1 m846.5 m844 m

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, 2018

Cash

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

Current Assets

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

PP&E

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

Total Assets

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

Accounts Payable

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

Current Liabilities

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

Long-term debt

190 m190 m190 m190 m190 m190 m190 m189.5 m189.5 m189.6 m94.7 m94.7 m94.8 m94.8 m

Total Debt

190 m190 m190 m190 m190 m190 m190 m189.5 m189.5 m189.6 m94.7 m94.7 m94.8 m94.8 m

Total Liabilities

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

Additional Paid-in Capital

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

Retained Earnings

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

Total Equity

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

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 x

Cash Flow

Annual

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

Net Income

253 m313.3 m245.5 m148.3 m

Depreciation and Amortization

13.7 m14.8 m16 m18.4 m

Accounts Receivable

(5.7 m)(75 m)(3.8 m)

Cash From Operating Activities

286.9 m345 m234 m123.6 m

Purchases of PP&E

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

Cash From Investing Activities

(39.1 m)(22.6 m)75.9 m

Dividends Paid

(96 m)(115.3 m)(144 m)(152.8 m)

Cash From Financing Activities

(155 m)(227.2 m)(219.5 m)(202.9 m)

Interest Paid

10.3 m10.3 m10.3 m10.3 m

Income Taxes Paid

124.2 m165.2 m152.3 m

Quarterly

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

Net Income

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

Depreciation and Amortization

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

Accounts Receivable

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

Cash From Operating Activities

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

Purchases of PP&E

(10.9 m)(13.8 m)(18.2 m)(25.2 m)(9.2 m)(14.1 m)(20.6 m)(5.7 m)(9.3 m)(13.9 m)(1.9 m)(3.7 m)(5.4 m)(414 k)

Cash From Investing Activities

32.6 m(10.5 m)(6.4 m)(52.7 m)(6.2 m)(10.2 m)(18.4 m)948 k15.3 m69.3 m10.2 m(17.7 m)(199 m)56.3 m

Dividends Paid

(72.1 m)(29 m)(58 m)(86.8 m)(36 m)(72.2 m)(108.2 m)(38.1 m)(76.6 m)(114.7 m)(38.8 m)(77.2 m)(115.7 m)(20.9 m)

Cash From Financing Activities

(117.7 m)(45.5 m)(102.8 m)(166.4 m)(39.8 m)(97.4 m)(166.2 m)(65.1 m)(124.8 m)(164.1 m)(49.3 m)(72.2 m)(113.6 m)(131.9 m)

Ratios

USDY, 2018

EV/EBIT

25.5 x

EV/CFO

30.4 x

Financial Leverage

1.4 x
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