CINF FY 2019 Earnings Report — Cincinnati Financial Corporation Revenue & Financial Results | Market Cap Arena

Cincinnati Financial CorporationCINF

FY 2019 Earnings

Reported February 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$7.9B	—	$5.4B	—	46.6%
Op. Income	$2.5B	—	$251M	—	884.9%
Gross Margin	54.1%	—	35.5%	—	18.6pp
Net Margin	25.2%	—	5.3%	—	19.9pp
EPS (Diluted)	$12.10	—	$1.74	—	595.4%
Free Cash Flow	$1.2B	—	$1.2B	—	2.0%

Revenue Flow

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$3.6B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.8B
Operating Expenses	$1.8B
Cost & Expenses	$5.5B
OPERATING INCOME	$2.5B
Interest Income	$647M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$475M
NET INCOME	$2.0B
D&A	$72M
EBIT	$2.5B
EBITDA	$2.6B
EPS	$12
EPS Diluted	$12

Income Statement

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$3.6B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.8B
Operating Expenses	$1.8B
Cost & Expenses	$5.5B
OPERATING INCOME	$2.5B
Interest Income	$647M
Interest Expense	$53M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$475M
NET INCOME	$2.0B
D&A	$72M
EBIT	$2.5B
EBITDA	$2.6B
EPS	$12
EPS Diluted	$12

Cash Flow Statement

Item	Amount
Net Income	$2.0B
Depreciation & Amortization	$72M
Stock-Based Compensation	$30M
Deferred Income Tax	$343M
Other Non-Cash Items	-$1.6B
Change in Working Capital	$362M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$24M
Acquisitions (Net)	$0
Purchases of Investments	-$2.2B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	-$5M
NET CASH FROM INVESTING	-$679M
Net Debt Issuance	$7M
Common Stock Repurchased	-$67M
Common Dividends Paid	-$355M
Other Financing Activities	-$131M
NET CASH FROM FINANCING	-$546M
FREE CASH FLOW	$1.2B
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$767M
Short-Term Investments	$11.7B
Net Receivables	$2.6B
Inventory	$0
Other Current Assets	-$15.1B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$207M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$19.4B
Tax Assets	$0
Other Non-Current Assets	-$19.7B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$25.4B
Account Payables	$0
Short-Term Debt	$39M
Deferred Revenue	$0
Other Current Liabilities	-$39M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$788M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.1B
Other Non-Current Liabilities	-$1.9B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$15.5B
Common Stock	$397M
Additional Paid-In Capital	$1.3B
Retained Earnings	$9.3B
Treasury Stock	-$1.5B
Accum. Other Comp. Income	$448M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.9B
Minority Interest	$0
TOTAL EQUITY	$9.9B
TOTAL LIABILITIES & EQUITY	$25.4B
Total Debt	$884M
Net Debt	$117M