CM Q1 2021 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q1 2021 Earnings

Reported February 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$4.3B	$4.1B	—	5.1%	—
Op. Income	$1.5B	$1.0B	—	47.4%	—
Gross Margin	81.6%	76.8%	—	4.9pp	—
Net Margin	27.6%	18.1%	—	9.4pp	—
EPS (Diluted)	$1.30	$0.80	—	61.8%	—
Free Cash Flow	-$946M	-$2.3B	—	58.2%	—

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$789M
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$33M
General & Administrative	$1.1B
SG&A Expenses	$1.2B
Other Expenses	$805M
Operating Expenses	$2.0B
Cost & Expenses	$2.8B
OPERATING INCOME	$1.5B
Interest Income	$2.8B
Interest Expense	$681M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$340M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$173M
EBIT	$1.5B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$789M
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$33M
General & Administrative	$1.1B
SG&A Expenses	$1.2B
Other Expenses	$805M
Operating Expenses	$2.0B
Cost & Expenses	$2.8B
OPERATING INCOME	$1.5B
Interest Income	$2.8B
Interest Expense	$681M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$340M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$173M
EBIT	$1.5B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$173M
Stock-Based Compensation	$4M
Deferred Income Tax	$31M
Other Non-Cash Items	$141M
Change in Working Capital	-$2.3B
OPERATING CASH FLOW	-$811M
Capital Expenditure	-$134M
Acquisitions (Net)	$0
Purchases of Investments	-$7.3B
Sales/Maturities of Investments	$9.1B
Other Investing Activities	$0
NET CASH FROM INVESTING	$1.7B
Net Debt Issuance	-$791M
Common Stock Repurchased	-$12M
Common Dividends Paid	-$476M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	-$946M
Net Change in Cash	-$398M

Balance Sheet

Item	Amount
Cash & Equivalents	$46.3B
Short-Term Investments	$38.0B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$84.2B
PP&E (Net)	$2.1B
Goodwill	$3.7B
Intangible Assets	$1.4B
Long-Term Investments	$400.1B
Tax Assets	$379M
Other Non-Current Assets	$82.7B
TOTAL NON-CURRENT ASSETS	$487.9B
TOTAL ASSETS	$572.1B
Account Payables	$0
Short-Term Debt	$101.7B
Deferred Revenue	$0
Other Current Liabilities	$333.2B
TOTAL CURRENT LIABILITIES	$434.9B
Long-Term Debt	$58.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$26M
Other Non-Current Liabilities	$48.5B
TOTAL NON-CURRENT LIABILITIES	$106.6B
TOTAL LIABILITIES	$541.5B
Common Stock	$10.2B
Additional Paid-In Capital	$87M
Retained Earnings	$16.9B
Treasury Stock	$0
Accum. Other Comp. Income	$736M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$30.5B
Minority Interest	$129M
TOTAL EQUITY	$30.6B
TOTAL LIABILITIES & EQUITY	$572.1B
Total Debt	$159.8B
Net Debt	$113.5B