CM Q2 2018 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q2 2018 Earnings

Reported April 30, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$4.5B	$4.3B	$3.5B	3.0%	28.8%
Op. Income	$1.2B	$1.3B	$910M	-4.7%	32.4%
Gross Margin	67.8%	71.9%	73.8%	-4.1pp	-6.0pp
Net Margin	21.5%	22.3%	22.1%	-0.8pp	-0.5pp
EPS (Diluted)	$1.06	$1.08	$0.95	-2.0%	11.5%
Free Cash Flow	$4.8B	$1.9B	$2.0B	157.3%	137.6%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.4B
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$56M
General & Administrative	$1.0B
SG&A Expenses	$1.1B
Other Expenses	$727M
Operating Expenses	$1.8B
Cost & Expenses	$3.3B
OPERATING INCOME	$1.2B
Interest Income	$3.1B
Interest Expense	$1.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$240M
Net Income from Continuing Ops	$965M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$960M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$943M
D&A	$118M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.4B
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$56M
General & Administrative	$1.0B
SG&A Expenses	$1.1B
Other Expenses	$727M
Operating Expenses	$1.8B
Cost & Expenses	$3.3B
OPERATING INCOME	$1.2B
Interest Income	$3.1B
Interest Expense	$1.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$240M
Net Income from Continuing Ops	$965M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$960M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$943M
D&A	$118M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$965M
Depreciation & Amortization	$118M
Stock-Based Compensation	$7M
Deferred Income Tax	$16M
Other Non-Cash Items	$36M
Change in Working Capital	$3.7B
OPERATING CASH FLOW	$4.8B
Capital Expenditure	-$33M
Acquisitions (Net)	$0
Purchases of Investments	-$7.0B
Sales/Maturities of Investments	$2.8B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$4.3B
Net Debt Issuance	$1.1B
Common Stock Repurchased	$0
Common Dividends Paid	-$416M
Other Financing Activities	$0
NET CASH FROM FINANCING	$716M
FREE CASH FLOW	$4.8B
Net Change in Cash	$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$12.5B
Short-Term Investments	$28.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$40.9B
PP&E (Net)	$1.3B
Goodwill	$4.0B
Intangible Assets	$1.4B
Long-Term Investments	$332.5B
Tax Assets	$443M
Other Non-Current Assets	$52.6B
TOTAL NON-CURRENT ASSETS	$391.1B
TOTAL ASSETS	$431.9B
Account Payables	$0
Short-Term Debt	$28.1B
Deferred Revenue	$0
Other Current Liabilities	$307.2B
TOTAL CURRENT LIABILITIES	$335.3B
Long-Term Debt	$34.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$23M
Other Non-Current Liabilities	$37.4B
TOTAL NON-CURRENT LIABILITIES	$72.1B
TOTAL LIABILITIES	$407.4B
Common Stock	$9.6B
Additional Paid-In Capital	$100M
Retained Earnings	$12.7B
Treasury Stock	$0
Accum. Other Comp. Income	$295M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$24.4B
Minority Interest	$132M
TOTAL EQUITY	$24.5B
TOTAL LIABILITIES & EQUITY	$431.9B
Total Debt	$62.7B
Net Debt	$50.2B