Broadridge Financial Solutions (BR) 10-K Summary — Year Ended Jun 30, 2023
Broadridge Financial Solutions provides technology-driven solutions for the financial services industry. In the most recent fiscal year, revenue and operating income continued to grow, and cash from operations remained strong.
Key takeaway
Year ended Jun 30, 2023 · FY2025 10-K
Broadridge Financial Solutions provides technology-driven solutions for the financial services industry. In the most recent fiscal year, revenue and operating income continued to grow, and cash from operations remained strong.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$6.1B
Revenue reported for the fiscal year.
Operating income
$936.4M
Income from operations reported for the year.
Net income
$630.6M
Net income reported for the year.
Operating cash flow
$823.3M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2021 | $5B | n/a |
| Jun 30, 2022 | $5.7B | +14.3% |
| Jun 30, 2023 | $6.1B | +6.2% |
Business overview
The company operates as a global fintech provider, focusing on investor communications, technology-driven solutions, and data analytics for financial services firms. Its business is organized around core processing, digital innovation, and regulatory compliance services.
Financial performance
Revenue increased compared to the prior year, supported by growth in recurring fee revenues and new business wins. Operating income and net income also improved, reflecting higher scale and operational efficiency.
Material risks
The filing states risks including potential disruptions from technology or cybersecurity failures, reliance on key client relationships, and regulatory changes affecting the financial services industry. Economic downturns could reduce client spending on the company's solutions.
Liquidity and capital
The company expects cash from operations, existing cash, and borrowing capacity to fund working capital, capital expenditures, acquisitions, dividends, and share repurchases for at least the next twelve months. Cash and cash equivalents increased from the prior year, and stockholders' equity also rose.
What to watch
Monitor the trend in recurring fee revenue growth and any changes in client retention rates.