CHCO FY 2023 Earnings Report — City Holding Company Revenue & Financial Results | Market Cap Arena

City Holding CompanyCHCO

FY 2023 Earnings

Reported February 28, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$334M	—	$256M	—	30.8%
Op. Income	$143M	—	$127M	—	12.4%
Gross Margin	83.5%	—	96.0%	—	-12.6pp
Net Margin	34.2%	—	39.9%	—	-5.7pp
EPS (Diluted)	$7.61	—	$6.80	—	11.9%
Free Cash Flow	$135M	—	$114M	—	18.4%

Revenue Flow

Item	Amount
REVENUE	$334M
Cost of Revenue	$55M
GROSS PROFIT	$279M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$76M
SG&A Expenses	$79M
Other Expenses	$57M
Operating Expenses	$136M
Cost & Expenses	$191M
OPERATING INCOME	$143M
Interest Income	$271M
Interest Expense	$52M
Other Income/Expenses	$0
INCOME BEFORE TAX	$143M
Income Tax Expense	$29M
Net Income from Continuing Ops	$114M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$114M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$11M
EBIT	$143M
EBITDA	$154M
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$334M
Cost of Revenue	$55M
GROSS PROFIT	$279M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$76M
SG&A Expenses	$79M
Other Expenses	$57M
Operating Expenses	$136M
Cost & Expenses	$191M
OPERATING INCOME	$143M
Interest Income	$271M
Interest Expense	$52M
Other Income/Expenses	$0
INCOME BEFORE TAX	$143M
Income Tax Expense	$29M
Net Income from Continuing Ops	$114M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$114M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$11M
EBIT	$143M
EBITDA	$154M
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$114M
Depreciation & Amortization	$11M
Stock-Based Compensation	$3M
Deferred Income Tax	-$3M
Other Non-Cash Items	$2M
Change in Working Capital	$10M
OPERATING CASH FLOW	$138M
Capital Expenditure	-$3M
Acquisitions (Net)	$14M
Purchases of Investments	-$102M
Sales/Maturities of Investments	$326M
Other Investing Activities	-$221M
NET CASH FROM INVESTING	$15M
Net Debt Issuance	$137M
Common Stock Repurchased	-$60M
Common Dividends Paid	-$40M
Other Financing Activities	-$233M
NET CASH FROM FINANCING	-$196M
FREE CASH FLOW	$135M
Net Change in Cash	-$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$156M
Short-Term Investments	$1.3B
Net Receivables	$20M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$72M
Goodwill	$150M
Intangible Assets	$13M
Long-Term Investments	$4.1B
Tax Assets	$42M
Other Non-Current Assets	$242M
TOTAL NON-CURRENT ASSETS	$4.7B
TOTAL ASSETS	$6.2B
Account Payables	$0
Short-Term Debt	$335M
Deferred Revenue	$0
Other Current Liabilities	$4.9B
TOTAL CURRENT LIABILITIES	$5.3B
Long-Term Debt	$100M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$122M
TOTAL NON-CURRENT LIABILITIES	$222M
TOTAL LIABILITIES	$5.5B
Common Stock	$48M
Additional Paid-In Capital	$177M
Retained Earnings	$780M
Treasury Stock	-$218M
Accum. Other Comp. Income	-$111M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$677M
Minority Interest	$0
TOTAL EQUITY	$677M
TOTAL LIABILITIES & EQUITY	$6.2B
Total Debt	$435M
Net Debt	$279M