CM FY 2018 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

FY 2018 Earnings

Reported October 31, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$18.4B	—	$15.0B	—	22.7%
Op. Income	$4.9B	—	$4.3B	—	14.0%
Gross Margin	67.1%	—	73.4%	—	-6.4pp
Net Margin	21.0%	—	22.9%	—	-2.0pp
EPS (Diluted)	$4.26	—	$4.11	—	3.7%
Free Cash Flow	$7.0B	—	$1.9B	—	261.6%

Revenue Flow

Item	Amount
REVENUE	$18.4B
Cost of Revenue	$6.1B
GROSS PROFIT	$12.3B
R&D Expenses	$0
Selling & Marketing	$239M
General & Administrative	$4.1B
SG&A Expenses	$4.4B
Other Expenses	$3.0B
Operating Expenses	$7.4B
Cost & Expenses	$13.5B
OPERATING INCOME	$4.9B
Interest Income	$12.8B
Interest Expense	$5.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.9B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$3.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.8B
D&A	$480M
EBIT	$4.9B
EBITDA	$5.4B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$18.4B
Cost of Revenue	$6.1B
GROSS PROFIT	$12.3B
R&D Expenses	$0
Selling & Marketing	$239M
General & Administrative	$4.1B
SG&A Expenses	$4.4B
Other Expenses	$3.0B
Operating Expenses	$7.4B
Cost & Expenses	$13.5B
OPERATING INCOME	$4.9B
Interest Income	$12.8B
Interest Expense	$5.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.9B
Income Tax Expense	$1.0B
Net Income from Continuing Ops	$3.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.8B
D&A	$480M
EBIT	$4.9B
EBITDA	$5.4B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$3.9B
Depreciation & Amortization	$480M
Stock-Based Compensation	$23M
Deferred Income Tax	$50M
Other Non-Cash Items	$438M
Change in Working Capital	$2.4B
OPERATING CASH FLOW	$7.2B
Capital Expenditure	-$186M
Acquisitions (Net)	-$230M
Purchases of Investments	-$24.1B
Sales/Maturities of Investments	$18.7B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$5.8B
Net Debt Issuance	$655M
Common Stock Repurchased	-$305M
Common Dividends Paid	-$1.5B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$726M
FREE CASH FLOW	$7.0B
Net Change in Cash	$687M

Balance Sheet

Item	Amount
Cash & Equivalents	$15.1B
Short-Term Investments	$26.5B
Net Receivables	$7.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$49.7B
PP&E (Net)	$1.3B
Goodwill	$4.1B
Intangible Assets	$1.4B
Long-Term Investments	$336.5B
Tax Assets	$439M
Other Non-Current Assets	$44.1B
TOTAL NON-CURRENT ASSETS	$386.7B
TOTAL ASSETS	$436.3B
Account Payables	$5.3B
Short-Term Debt	$73.5B
Deferred Revenue	$0
Other Current Liabilities	$242.1B
TOTAL CURRENT LIABILITIES	$322.6B
Long-Term Debt	$56.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$31M
Other Non-Current Liabilities	$28.2B
TOTAL NON-CURRENT LIABILITIES	$85.1B
TOTAL LIABILITIES	$410.7B
Common Stock	$9.7B
Additional Paid-In Capital	$99M
Retained Earnings	$13.5B
Treasury Stock	$0
Accum. Other Comp. Income	$568M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.5B
Minority Interest	$126M
TOTAL EQUITY	$25.7B
TOTAL LIABILITIES & EQUITY	$436.3B
Total Debt	$130.4B
Net Debt	$115.2B