CM Q1 2018 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q1 2018 Earnings

Reported January 31, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$4.3B	$4.1B	$3.6B	5.7%	20.0%
Op. Income	$1.3B	$1.1B	$1.3B	17.6%	0.3%
Gross Margin	71.9%	71.6%	74.4%	0.3pp	-2.5pp
Net Margin	22.3%	20.7%	28.4%	1.7pp	-6.1pp
EPS (Diluted)	$1.08	$0.95	$1.28	13.8%	-15.4%
Free Cash Flow	$1.9B	$1.4B	-$2.8B	32.1%	167.2%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$53M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$729M
Operating Expenses	$1.8B
Cost & Expenses	$3.1B
OPERATING INCOME	$1.3B
Interest Income	$2.9B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$292M
Net Income from Continuing Ops	$970M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$967M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$954M
D&A	$121M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$1.2B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$53M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$729M
Operating Expenses	$1.8B
Cost & Expenses	$3.1B
OPERATING INCOME	$1.3B
Interest Income	$2.9B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$292M
Net Income from Continuing Ops	$970M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$967M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$954M
D&A	$121M
EBIT	$1.3B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$970M
Depreciation & Amortization	$121M
Stock-Based Compensation	$4M
Deferred Income Tax	$64M
Other Non-Cash Items	$36M
Change in Working Capital	$699M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$29M
Acquisitions (Net)	-$230M
Purchases of Investments	-$4.4B
Sales/Maturities of Investments	$2.6B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.0B
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$289M
Other Financing Activities	$0
NET CASH FROM FINANCING	$89M
FREE CASH FLOW	$1.9B
Net Change in Cash	-$102M

Balance Sheet

Item	Amount
Cash & Equivalents	$11.1B
Short-Term Investments	$25.8B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$36.9B
PP&E (Net)	$1.3B
Goodwill	$3.8B
Intangible Assets	$1.4B
Long-Term Investments	$327.8B
Tax Assets	$444M
Other Non-Current Assets	$58.5B
TOTAL NON-CURRENT ASSETS	$392.0B
TOTAL ASSETS	$428.9B
Account Payables	$0
Short-Term Debt	$24.6B
Deferred Revenue	$0
Other Current Liabilities	$306.0B
TOTAL CURRENT LIABILITIES	$330.6B
Long-Term Debt	$33.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$23M
Other Non-Current Liabilities	$41.1B
TOTAL NON-CURRENT LIABILITIES	$74.7B
TOTAL LIABILITIES	$405.3B
Common Stock	$9.6B
Additional Paid-In Capital	$99M
Retained Earnings	$12.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$23.5B
Minority Interest	$137M
TOTAL EQUITY	$23.6B
TOTAL LIABILITIES & EQUITY	$428.9B
Total Debt	$58.2B
Net Debt	$47.0B