CM Q1 2019 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q1 2019 Earnings

Reported January 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$5.2B	$4.9B	$4.3B	5.6%	19.2%
Op. Income	$1.1B	$1.2B	$1.3B	-8.1%	-15.1%
Gross Margin	59.4%	63.6%	71.9%	-4.2pp	-12.5pp
Net Margin	16.7%	18.9%	22.3%	-2.3pp	-5.7pp
EPS (Diluted)	$0.95	$1.02	$1.08	-7.1%	-12.2%
Free Cash Flow	$4.2B	-$982M	$1.9B	528.6%	125.7%

Revenue Flow

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$2.1B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$59M
General & Administrative	$1.0B
SG&A Expenses	$1.1B
Other Expenses	$909M
Operating Expenses	$2.0B
Cost & Expenses	$4.1B
OPERATING INCOME	$1.1B
Interest Income	$3.7B
Interest Expense	$1.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$208M
Net Income from Continuing Ops	$864M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$861M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$844M
D&A	$125M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.2B
Cost of Revenue	$2.1B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$59M
General & Administrative	$1.0B
SG&A Expenses	$1.1B
Other Expenses	$909M
Operating Expenses	$2.0B
Cost & Expenses	$4.1B
OPERATING INCOME	$1.1B
Interest Income	$3.7B
Interest Expense	$1.8B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$208M
Net Income from Continuing Ops	$864M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$861M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$844M
D&A	$125M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$864M
Depreciation & Amortization	$125M
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	$110M
Change in Working Capital	$3.1B
OPERATING CASH FLOW	$4.3B
Capital Expenditure	-$40M
Acquisitions (Net)	$0
Purchases of Investments	-$8.2B
Sales/Maturities of Investments	$3.9B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$4.3B
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$416M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$151M
FREE CASH FLOW	$4.2B
Net Change in Cash	-$213M

Balance Sheet

Item	Amount
Cash & Equivalents	$12.1B
Short-Term Investments	$30.2B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$42.3B
PP&E (Net)	$1.3B
Goodwill	$4.1B
Intangible Assets	$1.4B
Long-Term Investments	$340.6B
Tax Assets	$454M
Other Non-Current Assets	$60.2B
TOTAL NON-CURRENT ASSETS	$406.8B
TOTAL ASSETS	$449.2B
Account Payables	$0
Short-Term Debt	$80.8B
Deferred Revenue	$0
Other Current Liabilities	$250.3B
TOTAL CURRENT LIABILITIES	$331.1B
Long-Term Debt	$53.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$30M
Other Non-Current Liabilities	$37.8B
TOTAL NON-CURRENT LIABILITIES	$91.7B
TOTAL LIABILITIES	$422.8B
Common Stock	$9.8B
Additional Paid-In Capital	$96M
Retained Earnings	$14.0B
Treasury Stock	$0
Accum. Other Comp. Income	$550M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$26.2B
Minority Interest	$127M
TOTAL EQUITY	$26.4B
TOTAL LIABILITIES & EQUITY	$449.2B
Total Debt	$134.7B
Net Debt	$122.6B