CM Q1 2022 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q1 2022 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2022	Q4 2021	Q1 2021	QoQ Change	YoY Change
Revenue	$4.6B	$4.2B	$4.3B	8.3%	7.1%
Op. Income	$1.8B	$1.4B	$1.5B	29.7%	14.8%
Gross Margin	86.0%	85.6%	81.6%	0.3pp	4.3pp
Net Margin	29.6%	24.7%	27.6%	4.9pp	2.0pp
EPS (Diluted)	$1.47	$1.13	$1.30	30.5%	12.9%
Free Cash Flow	-$858M	$5.9B	-$946M	-114.6%	9.3%

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$646M
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$46M
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$877M
Operating Expenses	$2.2B
Cost & Expenses	$2.8B
OPERATING INCOME	$1.8B
Interest Income	$2.9B
Interest Expense	$591M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$388M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$185M
EBIT	$1.8B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$646M
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$46M
General & Administrative	$1.3B
SG&A Expenses	$1.3B
Other Expenses	$877M
Operating Expenses	$2.2B
Cost & Expenses	$2.8B
OPERATING INCOME	$1.8B
Interest Income	$2.9B
Interest Expense	$591M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.8B
Income Tax Expense	$388M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$185M
EBIT	$1.8B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$185M
Stock-Based Compensation	$7M
Deferred Income Tax	$69M
Other Non-Cash Items	-$37M
Change in Working Capital	-$2.3B
OPERATING CASH FLOW	-$711M
Capital Expenditure	-$147M
Acquisitions (Net)	$0
Purchases of Investments	-$17.3B
Sales/Maturities of Investments	$10.5B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$7.0B
Net Debt Issuance	-$56M
Common Stock Repurchased	-$98M
Common Dividends Paid	-$534M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$620M
FREE CASH FLOW	-$858M
Net Change in Cash	-$8.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$31.7B
Short-Term Investments	$38.6B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$70.3B
PP&E (Net)	$2.4B
Goodwill	$3.7B
Intangible Assets	$1.5B
Long-Term Investments	$464.4B
Tax Assets	$210M
Other Non-Current Assets	$89.2B
TOTAL NON-CURRENT ASSETS	$559.4B
TOTAL ASSETS	$629.7B
Account Payables	$0
Short-Term Debt	$111.5B
Deferred Revenue	$0
Other Current Liabilities	$363.7B
TOTAL CURRENT LIABILITIES	$475.2B
Long-Term Debt	$70.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$32M
Other Non-Current Liabilities	$49.3B
TOTAL NON-CURRENT LIABILITIES	$119.9B
TOTAL LIABILITIES	$595.1B
Common Stock	$10.6B
Additional Paid-In Capital	$85M
Retained Earnings	$19.6B
Treasury Stock	$0
Accum. Other Comp. Income	$1.0B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$34.4B
Minority Interest	$138M
TOTAL EQUITY	$34.6B
TOTAL LIABILITIES & EQUITY	$629.7B
Total Debt	$182.2B
Net Debt	$150.5B