CINF FY 2017 Earnings Report — Cincinnati Financial Corporation Revenue & Financial Results | Market Cap Arena

Cincinnati Financial CorporationCINF

FY 2017 Earnings

Reported February 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$5.7B	—	$5.4B	—	5.2%
Op. Income	$730M	—	$812M	—	-10.1%
Gross Margin	40.9%	—	43.0%	—	-2.1pp
Net Margin	18.2%	—	10.8%	—	7.4pp
EPS (Diluted)	$6.29	—	$3.55	—	77.2%
Free Cash Flow	$1.0B	—	$1.1B	—	-5.0%

Revenue Flow

Item	Amount
REVENUE	$5.7B
Cost of Revenue	$3.4B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$5.0B
OPERATING INCOME	$730M
Interest Income	$615M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$730M
Income Tax Expense	-$315M
NET INCOME	$1.0B
D&A	$55M
EBIT	$783M
EBITDA	$838M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$5.7B
Cost of Revenue	$3.4B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.6B
Operating Expenses	$1.6B
Cost & Expenses	$5.0B
OPERATING INCOME	$730M
Interest Income	$615M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$730M
Income Tax Expense	-$315M
NET INCOME	$1.0B
D&A	$55M
EBIT	$783M
EBITDA	$838M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$55M
Stock-Based Compensation	$26M
Deferred Income Tax	-$444M
Other Non-Cash Items	-$100M
Change in Working Capital	$470M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$16M
Acquisitions (Net)	$0
Purchases of Investments	-$2.3B
Sales/Maturities of Investments	$1.7B
Other Investing Activities	-$9M
NET CASH FROM INVESTING	-$558M
Net Debt Issuance	$4M
Common Stock Repurchased	-$92M
Common Dividends Paid	-$400M
Other Financing Activities	-$126M
NET CASH FROM FINANCING	-$614M
FREE CASH FLOW	$1.0B
Net Change in Cash	-$120M

Balance Sheet

Item	Amount
Cash & Equivalents	$657M
Short-Term Investments	$0
Net Receivables	$2.2B
Inventory	$0
Other Current Assets	-$13.6B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$185M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$16.9B
Tax Assets	$745M
Other Non-Current Assets	-$17.1B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$21.8B
Account Payables	$0
Short-Term Debt	$24M
Deferred Revenue	$0
Other Current Liabilities	-$24M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$787M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$1.6B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$13.6B
Common Stock	$397M
Additional Paid-In Capital	$1.3B
Retained Earnings	$5.2B
Treasury Stock	-$1.4B
Accum. Other Comp. Income	$2.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.2B
Minority Interest	$0
TOTAL EQUITY	$8.2B
TOTAL LIABILITIES & EQUITY	$21.8B
Total Debt	$851M
Net Debt	$194M