CINF FY 2020 Earnings Report — Cincinnati Financial Corporation Revenue & Financial Results | Market Cap Arena

Cincinnati Financial CorporationCINF

FY 2020 Earnings

Reported February 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$7.5B	—	$7.9B	—	-4.9%
Op. Income	$1.5B	—	$2.5B	—	-39.4%
Gross Margin	45.1%	—	54.1%	—	-8.9pp
Net Margin	16.1%	—	25.2%	—	-9.1pp
EPS (Diluted)	$7.49	—	$12.10	—	-38.1%
Free Cash Flow	$1.5B	—	$1.2B	—	24.2%

Revenue Flow

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$4.1B
GROSS PROFIT	$3.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.9B
Operating Expenses	$1.9B
Cost & Expenses	$6.0B
OPERATING INCOME	$1.5B
Interest Income	$675M
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$283M
NET INCOME	$1.2B
D&A	$109M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$8
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$4.1B
GROSS PROFIT	$3.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.9B
Operating Expenses	$1.9B
Cost & Expenses	$6.0B
OPERATING INCOME	$1.5B
Interest Income	$675M
Interest Expense	$54M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$283M
NET INCOME	$1.2B
D&A	$109M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$8
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$81M
Stock-Based Compensation	$31M
Deferred Income Tax	$136M
Other Non-Cash Items	-$811M
Change in Working Capital	$838M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$20M
Acquisitions (Net)	$0
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$15M
NET CASH FROM INVESTING	-$560M
Net Debt Issuance	$15M
Common Stock Repurchased	-$261M
Common Dividends Paid	-$375M
Other Financing Activities	-$177M
NET CASH FROM FINANCING	-$798M
FREE CASH FLOW	$1.5B
Net Change in Cash	$133M

Balance Sheet

Item	Amount
Cash & Equivalents	$900M
Short-Term Investments	$12.3B
Net Receivables	$2.6B
Inventory	$0
Other Current Assets	-$15.9B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$213M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$21.2B
Tax Assets	$0
Other Non-Current Assets	-$21.4B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$27.5B
Account Payables	$0
Short-Term Debt	$54M
Deferred Revenue	$0
Other Current Liabilities	-$54M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$788M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.3B
Other Non-Current Liabilities	-$2.1B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$16.8B
Common Stock	$397M
Additional Paid-In Capital	$1.3B
Retained Earnings	$10.1B
Treasury Stock	-$1.8B
Accum. Other Comp. Income	$769M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.8B
Minority Interest	$0
TOTAL EQUITY	$10.8B
TOTAL LIABILITIES & EQUITY	$27.5B
Total Debt	$899M
Net Debt	-$1M