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 independent and employee-owned.

Net Revenues
(millions)

Baird 2016 Net Revenuees

Operating Income
(millions)

Baird 2016 Operating Income

Book Value
(per share / including cumulative dividends)

Baird 2016 Book Value

Return on Book Value**
(per share)

Baird 2016 Return on Book Value

Stockholder's Equity
(millions / including cumulative dividends)

Baird 2016 Total Capital

Associates
(global employment)

Baird 2016 Associates

* Represents the book value per share of Baird stock at December 31, 2016, of $34.67 plus cumulative cash dividends per share from 2011 through 2016 of $22.10 per share, representing annual dividends of $7.50, $2.00, $1.85, $1.65, $1.60 and $7.50 per share in 2016, 2015, 2014, 2013, 2012 and 2011, respectively.

** For comparative purposes, book value appreciation includes an adjustment for the value of the dividends paid in December of each year. The compound annual return for 2012–2016 is 13.8%.


*** Represents Stockholders' Equity at December 31, 2016, of $632 million plus cumulative cash dividends from 2011 through 2016 of $375 million, representing annual dividends of $136 million, $35 million, $32 million, $27 million, $25 million and $120 million in 2016, 2015, 2014, 2013, 2012 and 2011, 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) Cash Dividend Total Assets (millions) Associates Financial Advisors
2016 $1,390 $155 $34.67 $7.50 $2,613 3,410 877
2015 $1,286 $154 $37.48 $2.00 $2,793 3,312 872
2014 $1,202 $136 $34.87 $1.85 $2,635 3,172 816
2013 $1,069 $117 $31.78 $1.65 $2,259 2,935 727
2012 $961 $100 $28.98 $1.60 $2,340 2,787 698
2011 $925 $86 $27.19 $7.50 $2,264 2,752 694
2010 $847 $84 $31.51 $2,414 2,629 680
2009 $718 $62 $28.60 $2,159 2,458 650
2008 $680 $71 $26.89 $1,140 2,407 592
2007 $729 $105 $24.84 $1,752 2,282 586

Financial information does not reflect the consolidation of certain private equity partnerships.

Book Value: Baird paid cash dividends per share of $7.50, $2.00, $1.85, $1.65, $1.60 and $7.50 in December of 2016, 2015, 2014, 2013, 2012 and 2011, respectively, which resulted in corresponding decreases in book value. In addition, pershare amounts have been restated to give effect for a three-for-one stock split, effective November 30, 1999, and a two-for-one stock split, effective February 19, 2008.