2021 Annual Report
PRIVATELY HELD | EMPLOYEE-OWNED
2021 Financial Information
Baird Financial Group is the ultimate parent company of all of Baird’s global operations. Our primary businesses are wealth management, capital markets, asset management and private equity. We are privately held and employee-owned.
Net Revenues
(millions)
Operating Income
(millions)
Associates
Book Value*
(per share / including cumulative dividends)
*Represents the book value per share of Baird stock at December 31, 2021 of $23.88 plus cumulative cash dividends per share of $13.23, representing cumulative dividends per share of $7.37 prior to 2017 plus annual dividends per share of $2.50, $1.83, $0.83, and $0.70 in 2021, 2020, 2019 and 2017, respectively. All years have been restated for the three-for-one stock split effective August 24, 2021.
Return on Book Value**
(per share)
**For comparative purposes, book value appreciation includes an adjustment for the value of the dividends paid each year.
Stockholder's Equity***
(millions / including cumulative dividends)
*** Represents Stockholders' Equity at December 31, 2021 of $1,609 million plus cumulative cash dividends of $757 million, representing cash dividends prior to 2017 of $375 million plus annual dividends of $169 million, $119 million, $55 million, and $39 million in 2021, 2020, 2019 and 2017, respectively.
Baird Financial Group: Financial Highlights
| Operating Results |
Per-Share Data |
Financial Position |
Other Data |
||||
|---|---|---|---|---|---|---|---|
| Net Revenues (millions) |
Operating Income (millions) |
Book Value (fully diluted) |
Dividend | Total Assets (millions) |
Associates | Financial Advisors |
|
| 2021 | $3,412 | $609 | $23.88 | $2.50 | $4,600 | 4,703 | 1,309 |
| 2020 | $2,330 | $360 | $19.77 | $1.83 | $3,507 | 4,512 | 1,292 |
| 2019 | $2,060 | $262 | $17.74 | $0.83 | $3,343 | 4,641 | 1,298 |
| 2018 | $1,784 | $244 | $16.26 | - | $3,235 | 3,642 | 937 |
| 2017 | $1,533 | $199 | $13.26 | $0.70 | $3,114 | 3,410 | 858 |
| 2016 | $1,390 | $155 | $11.56 | $2.50 | $2,613 | 3,410 | 877 |
| 2015 | $1,286 | $154 | $12.49 | $0.67 | $2,793 | 3,312 | 872 |
| 2014 | $1,202 | $135 | $11.62 | $0.62 | $2,635 | 3,172 | 816 |
| 2013 | $1,069 | $117 | $10.59 | $0.55 | $2,259 | 2,935 | 727 |
| 2012 | $961 | $100 | $9.66 | $0.53 | $2,340 | 2,787 | 698 |
Financial information does not reflect the consolidation of certain private equity partnerships.
Book Value: All years have been restated for the three-for-one stock split effective August 24, 2021. Cash dividends per share have a corresponding decrease in book value per share.
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