CM Q2 2021 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q2 2021 Earnings

Reported May 27, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2021	Q1 2021	Q2 2020	QoQ Change	YoY Change
Revenue	$4.2B	$4.3B	—	-2.3%	—
Op. Income	$1.6B	$1.5B	—	2.6%	—
Gross Margin	85.1%	81.6%	—	3.4pp	—
Net Margin	28.7%	27.6%	—	1.1pp	—
EPS (Diluted)	$1.30	$1.30	—	0.0%	—
Free Cash Flow	-$13.1B	-$946M	—	-1286.0%	—

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$627M
GROSS PROFIT	$3.6B
R&D Expenses	$0
Selling & Marketing	$37M
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$798M
Operating Expenses	$2.0B
Cost & Expenses	$2.6B
OPERATING INCOME	$1.6B
Interest Income	$2.6B
Interest Expense	$604M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$360M
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	$182M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$627M
GROSS PROFIT	$3.6B
R&D Expenses	$0
Selling & Marketing	$37M
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$798M
Operating Expenses	$2.0B
Cost & Expenses	$2.6B
OPERATING INCOME	$1.6B
Interest Income	$2.6B
Interest Expense	$604M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$360M
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	$182M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$182M
Stock-Based Compensation	$6M
Deferred Income Tax	-$21M
Other Non-Cash Items	$324M
Change in Working Capital	-$14.7B
OPERATING CASH FLOW	-$13.0B
Capital Expenditure	-$128M
Acquisitions (Net)	$0
Purchases of Investments	-$8.8B
Sales/Maturities of Investments	$10.0B
Other Investing Activities	$0
NET CASH FROM INVESTING	$1.1B
Net Debt Issuance	$677M
Common Stock Repurchased	$0
Common Dividends Paid	-$492M
Other Financing Activities	$0
NET CASH FROM FINANCING	$249M
FREE CASH FLOW	-$13.1B
Net Change in Cash	-$11.7B

Balance Sheet

Item	Amount
Cash & Equivalents	$34.5B
Short-Term Investments	$36.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$70.6B
PP&E (Net)	$2.1B
Goodwill	$3.6B
Intangible Assets	$1.4B
Long-Term Investments	$413.6B
Tax Assets	$316M
Other Non-Current Assets	$82.8B
TOTAL NON-CURRENT ASSETS	$501.5B
TOTAL ASSETS	$572.1B
Account Payables	$0
Short-Term Debt	$99.5B
Deferred Revenue	$0
Other Current Liabilities	$330.2B
TOTAL CURRENT LIABILITIES	$429.7B
Long-Term Debt	$58.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$26M
Other Non-Current Liabilities	$52.3B
TOTAL NON-CURRENT LIABILITIES	$111.2B
TOTAL LIABILITIES	$540.9B
Common Stock	$10.3B
Additional Paid-In Capital	$87M
Retained Earnings	$17.5B
Treasury Stock	$0
Accum. Other Comp. Income	$499M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$31.1B
Minority Interest	$124M
TOTAL EQUITY	$31.2B
TOTAL LIABILITIES & EQUITY	$572.1B
Total Debt	$158.4B
Net Debt	$124.0B