CHCO FY 2021 Earnings Report — City Holding Company Revenue & Financial Results | Market Cap Arena

City Holding CompanyCHCO

FY 2021 Earnings

Reported February 24, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$229M	—	$255M	—	-10.3%
Op. Income	$111M	—	$111M	—	-0.1%
Gross Margin	97.1%	—	86.5%	—	10.5pp
Net Margin	38.5%	—	35.1%	—	3.4pp
EPS (Diluted)	$5.66	—	$5.55	—	2.0%
Free Cash Flow	$99M	—	$84M	—	17.4%

Revenue Flow

Item	Amount
REVENUE	$229M
Cost of Revenue	$7M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$63M
SG&A Expenses	$67M
Other Expenses	$44M
Operating Expenses	$111M
Cost & Expenses	$117M
OPERATING INCOME	$111M
Interest Income	$165M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$111M
Income Tax Expense	$23M
Net Income from Continuing Ops	$88M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$88M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$87M
D&A	$15M
EBIT	$111M
EBITDA	$126M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$229M
Cost of Revenue	$7M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$63M
SG&A Expenses	$67M
Other Expenses	$44M
Operating Expenses	$111M
Cost & Expenses	$117M
OPERATING INCOME	$111M
Interest Income	$165M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$111M
Income Tax Expense	$23M
Net Income from Continuing Ops	$88M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$88M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$87M
D&A	$15M
EBIT	$111M
EBITDA	$126M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$88M
Depreciation & Amortization	$15M
Stock-Based Compensation	$3M
Deferred Income Tax	$2M
Other Non-Cash Items	-$9M
Change in Working Capital	$3M
OPERATING CASH FLOW	$102M
Capital Expenditure	-$3M
Acquisitions (Net)	$0
Purchases of Investments	-$561M
Sales/Maturities of Investments	$296M
Other Investing Activities	$77M
NET CASH FROM INVESTING	-$191M
Net Debt Issuance	$17M
Common Stock Repurchased	-$59M
Common Dividends Paid	-$36M
Other Financing Activities	$273M
NET CASH FROM FINANCING	$195M
FREE CASH FLOW	$99M
Net Change in Cash	$106M

Balance Sheet

Item	Amount
Cash & Equivalents	$635M
Short-Term Investments	$1.4B
Net Receivables	$16M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.1B
PP&E (Net)	$74M
Goodwill	$109M
Intangible Assets	$8M
Long-Term Investments	$3.6B
Tax Assets	$63.0K
Other Non-Current Assets	$203M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$6.0B
Account Payables	$0
Short-Term Debt	$312M
Deferred Revenue	$0
Other Current Liabilities	$4.9B
TOTAL CURRENT LIABILITIES	$5.2B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$85M
TOTAL NON-CURRENT LIABILITIES	$85M
TOTAL LIABILITIES	$5.3B
Common Stock	$48M
Additional Paid-In Capital	$171M
Retained Earnings	$642M
Treasury Stock	-$194M
Accum. Other Comp. Income	$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$681M
Minority Interest	$0
TOTAL EQUITY	$681M
TOTAL LIABILITIES & EQUITY	$6.0B
Total Debt	$312M
Net Debt	-$322M