CM FY 2019 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

FY 2019 Earnings

Reported October 31, 2019

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	$20.9B	—	$18.4B	—	13.8%
Op. Income	$4.7B	—	$4.9B	—	-3.5%
Gross Margin	60.0%	—	67.1%	—	-7.0pp
Net Margin	17.8%	—	21.0%	—	-3.1pp
EPS (Diluted)	$4.09	—	$4.26	—	-3.9%
Free Cash Flow	$13.4B	—	$7.0B	—	91.0%

Revenue Flow

Item	Amount
REVENUE	$20.9B
Cost of Revenue	$8.4B
GROSS PROFIT	$12.6B
R&D Expenses	$0
Selling & Marketing	$262M
General & Administrative	$4.2B
SG&A Expenses	$4.4B
Other Expenses	$3.4B
Operating Expenses	$7.8B
Cost & Expenses	$16.2B
OPERATING INCOME	$4.7B
Interest Income	$15.1B
Interest Expense	$7.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$985M
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$612M
EBIT	$4.7B
EBITDA	$5.3B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$20.9B
Cost of Revenue	$8.4B
GROSS PROFIT	$12.6B
R&D Expenses	$0
Selling & Marketing	$262M
General & Administrative	$4.2B
SG&A Expenses	$4.4B
Other Expenses	$3.4B
Operating Expenses	$7.8B
Cost & Expenses	$16.2B
OPERATING INCOME	$4.7B
Interest Income	$15.1B
Interest Expense	$7.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$4.7B
Income Tax Expense	$985M
Net Income from Continuing Ops	$3.7B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.7B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$612M
EBIT	$4.7B
EBITDA	$5.3B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$3.7B
Depreciation & Amortization	$612M
Stock-Based Compensation	$12M
Deferred Income Tax	$79M
Other Non-Cash Items	$742M
Change in Working Capital	$8.8B
OPERATING CASH FLOW	$13.9B
Capital Expenditure	-$528M
Acquisitions (Net)	-$18M
Purchases of Investments	-$30.9B
Sales/Maturities of Investments	$18.1B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$13.4B
Net Debt Issuance	$365M
Common Stock Repurchased	-$80M
Common Dividends Paid	-$1.8B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$943M
FREE CASH FLOW	$13.4B
Net Change in Cash	-$395M

Balance Sheet

Item	Amount
Cash & Equivalents	$16.7B
Short-Term Investments	$34.2B
Net Receivables	$8.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$60.1B
PP&E (Net)	$1.3B
Goodwill	$4.0B
Intangible Assets	$1.4B
Long-Term Investments	$358.0B
Tax Assets	$378M
Other Non-Current Assets	$52.4B
TOTAL NON-CURRENT ASSETS	$416.1B
TOTAL ASSETS	$476.2B
Account Payables	$6.2B
Short-Term Debt	$89.6B
Deferred Revenue	$0
Other Current Liabilities	$262.9B
TOTAL CURRENT LIABILITIES	$360.4B
Long-Term Debt	$55.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$28M
Other Non-Current Liabilities	$29.7B
TOTAL NON-CURRENT LIABILITIES	$84.8B
TOTAL LIABILITIES	$448.0B
Common Stock	$9.9B
Additional Paid-In Capital	$91M
Retained Earnings	$15.3B
Treasury Stock	$0
Accum. Other Comp. Income	$644M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$28.1B
Minority Interest	$136M
TOTAL EQUITY	$28.2B
TOTAL LIABILITIES & EQUITY	$476.2B
Total Debt	$144.7B
Net Debt	$128.0B