CHCO FY 2022 Earnings Report — City Holding Company Revenue & Financial Results | Market Cap Arena

City Holding CompanyCHCO

FY 2022 Earnings

Reported February 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$256M	—	$229M	—	11.8%
Op. Income	$127M	—	$111M	—	14.5%
Gross Margin	96.0%	—	97.1%	—	-1.0pp
Net Margin	39.9%	—	38.5%	—	1.4pp
EPS (Diluted)	$6.80	—	$5.66	—	20.1%
Free Cash Flow	$114M	—	$99M	—	14.9%

Revenue Flow

Item	Amount
REVENUE	$256M
Cost of Revenue	$10M
GROSS PROFIT	$246M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$68M
SG&A Expenses	$72M
Other Expenses	$47M
Operating Expenses	$119M
Cost & Expenses	$128M
OPERATING INCOME	$127M
Interest Income	$190M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$127M
Income Tax Expense	$25M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$101M
D&A	$16M
EBIT	$127M
EBITDA	$143M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$256M
Cost of Revenue	$10M
GROSS PROFIT	$246M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$68M
SG&A Expenses	$72M
Other Expenses	$47M
Operating Expenses	$119M
Cost & Expenses	$128M
OPERATING INCOME	$127M
Interest Income	$190M
Interest Expense	$10M
Other Income/Expenses	$0
INCOME BEFORE TAX	$127M
Income Tax Expense	$25M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$101M
D&A	$16M
EBIT	$127M
EBITDA	$143M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$102M
Depreciation & Amortization	$16M
Stock-Based Compensation	$3M
Deferred Income Tax	$1M
Other Non-Cash Items	-$4M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$116M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$520M
Sales/Maturities of Investments	$211M
Other Investing Activities	-$100M
NET CASH FROM INVESTING	-$410M
Net Debt Issuance	-$21M
Common Stock Repurchased	-$26M
Common Dividends Paid	-$37M
Other Financing Activities	-$55M
NET CASH FROM FINANCING	-$140M
FREE CASH FLOW	$114M
Net Change in Cash	-$435M

Balance Sheet

Item	Amount
Cash & Equivalents	$200M
Short-Term Investments	$1.5B
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$71M
Goodwill	$109M
Intangible Assets	$7M
Long-Term Investments	$3.7B
Tax Assets	$45M
Other Non-Current Assets	$270M
TOTAL NON-CURRENT ASSETS	$4.2B
TOTAL ASSETS	$5.9B
Account Payables	$0
Short-Term Debt	$291M
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	$139M
TOTAL NON-CURRENT LIABILITIES	$139M
TOTAL LIABILITIES	$5.3B
Common Stock	$48M
Additional Paid-In Capital	$171M
Retained Earnings	$707M
Treasury Stock	-$216M
Accum. Other Comp. Income	-$131M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$578M
Minority Interest	$0
TOTAL EQUITY	$578M
TOTAL LIABILITIES & EQUITY	$5.9B
Total Debt	$291M
Net Debt	$91M