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TD Ameritrade Delivers 5th Consecutive Year Of Double-Digit Net New Client Asset Growth Rate

TD Ameritrade Holding Corporation (NYSE: AMTD) has released results for fiscal 2013. The Company gathered approximately $50 billion of net new client assets, maintaining its industry-leading, double-digit net new client asset growth rate for the 5th consecutive year.

The Company’s results for the fiscal year ended Sept. 30, 2013 include the following: (1)

  • Net income of $675 million, or $1.22 per diluted share
  • Record net new client assets of approximately $50 billion, an annualized growth rate of 10 percent
  • Average client trades per day of approximately 374,000, an activity rate of 6.3 percent
  • Record net revenues of $2.76 billion, 55 percent of which were asset-based
  • Investment product fee revenue of $250 million, up 28 percent year-over-year
  • Pre-tax income of $1.09 billion, or 39 percent of net revenues
  • EBITDA (2) of $1.29 billion, or 47 percent of net revenues
  • Record interest rate sensitive assets (3) of $96 billion, up 16 percent year-over-year
  • Record client assets of approximately $556 billion, up 18 percent year-over-year

“TD Ameritrade had another strong year, as we maintained our industry-leading, double-digit growth in asset gathering,” said Fred Tomczyk, president and chief executive officer. “In 2013 we delivered record net new client assets and interest rate sensitive assets and continued to build on our leadership in trading. Each of these accomplishments contributed to the highest net revenues we’ve earned in our history. As we go forward, we’ll remain focused on growth and investing in the future. Our strategy is working, and our momentum is strong going into 2014.”

“TD Ameritrade has once again shown that we can keep expenses in check, invest in the business, and grow. We have held expenses at the same level in each of the last three years, and yet we’ve continued to invest in the business and deliver record growth,” said Bill Gerber, executive vice president and chief financial officer. “In 2013 we effectively returned 107 percent of earnings via cash dividends and debt repayments, and when you combine dividends and stock appreciation over the last year, our shareholders have received a total return of more than 75 percent. Moving forward we intend to continue building our long-term earnings power and return capital to further enhance shareholder value.”

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