CINF Q3 2016 Earnings Report — Cincinnati Financial Corporation Revenue & Financial Results | Market Cap Arena

Cincinnati Financial CorporationCINF

Q3 2016 Earnings

Reported October 25, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$1.4B	$1.4B	—	2.3%	—
Op. Income	$253M	$166M	—	52.4%	—
Gross Margin	46.3%	40.1%	—	6.2pp	—
Net Margin	12.8%	9.0%	—	3.9pp	—
EPS (Diluted)	$1.08	$0.74	—	45.9%	—
Free Cash Flow	$332M	$230M	—	44.3%	—

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$753M
GROSS PROFIT	$649M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$396M
Operating Expenses	$396M
Cost & Expenses	$1.1B
OPERATING INCOME	$253M
Interest Income	$0
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$253M
Income Tax Expense	$73M
NET INCOME	$180M
D&A	$10M
EBIT	$266M
EBITDA	$276M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$753M
GROSS PROFIT	$649M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$396M
Operating Expenses	$396M
Cost & Expenses	$1.1B
OPERATING INCOME	$253M
Interest Income	$0
Interest Expense	$13M
Other Income/Expenses	$0
INCOME BEFORE TAX	$253M
Income Tax Expense	$73M
NET INCOME	$180M
D&A	$10M
EBIT	$266M
EBITDA	$276M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$180M
Depreciation & Amortization	$10M
Stock-Based Compensation	$5M
Deferred Income Tax	$13M
Other Non-Cash Items	-$43M
Change in Working Capital	$171M
OPERATING CASH FLOW	$334M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$526M
Sales/Maturities of Investments	$443M
Other Investing Activities	$6M
NET CASH FROM INVESTING	-$79M
Net Debt Issuance	-$8M
Common Stock Repurchased	$0
Common Dividends Paid	-$78M
Other Financing Activities	-$18M
NET CASH FROM FINANCING	-$104M
FREE CASH FLOW	$332M
Net Change in Cash	$153M

Balance Sheet

Item	Amount
Cash & Equivalents	$700M
Short-Term Investments	$0
Net Receivables	$2.2B
Inventory	$0
Other Current Assets	-$13.3B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$184M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$15.6B
Tax Assets	$879M
Other Non-Current Assets	-$15.7B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$20.5B
Account Payables	$0
Short-Term Debt	$20M
Deferred Revenue	$0
Other Current Liabilities	-$20M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$827M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$879M
Other Non-Current Liabilities	-$1.7B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$13.3B
Common Stock	$397M
Additional Paid-In Capital	$1.2B
Retained Earnings	$5.0B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	$1.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.1B
Minority Interest	$0
TOTAL EQUITY	$7.1B
TOTAL LIABILITIES & EQUITY	$20.5B
Total Debt	$847M
Net Debt	$147M