CM Q3 2020 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q3 2020 Earnings

Reported August 27, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2020	Q2 2020	Q3 2019	QoQ Change	YoY Change
Revenue	$4.2B	—	$5.3B	—	-20.3%
Op. Income	$1.1B	—	$1.3B	—	-16.4%
Gross Margin	71.8%	—	60.6%	—	11.2pp
Net Margin	20.2%	—	19.1%	—	1.1pp
EPS (Diluted)	$0.93	—	$1.12	—	-17.0%
Free Cash Flow	$13.5B	—	$1.8B	—	641.5%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$1.2B
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$37M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$814M
Operating Expenses	$2.0B
Cost & Expenses	$3.2B
OPERATING INCOME	$1.1B
Interest Income	$2.8B
Interest Expense	$810M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$226M
Net Income from Continuing Ops	$856M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$855M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$832M
D&A	$182M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$1.2B
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$37M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$814M
Operating Expenses	$2.0B
Cost & Expenses	$3.2B
OPERATING INCOME	$1.1B
Interest Income	$2.8B
Interest Expense	$810M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$226M
Net Income from Continuing Ops	$856M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$855M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$832M
D&A	$182M
EBIT	$1.1B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$856M
Depreciation & Amortization	$182M
Stock-Based Compensation	$3M
Deferred Income Tax	-$38M
Other Non-Cash Items	$311M
Change in Working Capital	$12.3B
OPERATING CASH FLOW	$13.6B
Capital Expenditure	-$72M
Acquisitions (Net)	$0
Purchases of Investments	-$11.8B
Sales/Maturities of Investments	$6.7B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$5.3B
Net Debt Issuance	$675M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$469M
Other Financing Activities	$0
NET CASH FROM FINANCING	$233M
FREE CASH FLOW	$13.5B
Net Change in Cash	$8.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$50.0B
Short-Term Investments	$39.1B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$89.1B
PP&E (Net)	$2.2B
Goodwill	$4.0B
Intangible Assets	$1.4B
Long-Term Investments	$396.9B
Tax Assets	$491M
Other Non-Current Assets	$70.0B
TOTAL NON-CURRENT ASSETS	$472.5B
TOTAL ASSETS	$561.6B
Account Payables	$0
Short-Term Debt	$102.5B
Deferred Revenue	$0
Other Current Liabilities	$315.5B
TOTAL CURRENT LIABILITIES	$418.0B
Long-Term Debt	$59.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$25M
Other Non-Current Liabilities	$55.0B
TOTAL NON-CURRENT LIABILITIES	$114.3B
TOTAL LIABILITIES	$532.3B
Common Stock	$10.1B
Additional Paid-In Capital	$89M
Retained Earnings	$15.9B
Treasury Stock	$0
Accum. Other Comp. Income	$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$29.2B
Minority Interest	$131M
TOTAL EQUITY	$29.3B
TOTAL LIABILITIES & EQUITY	$561.6B
Total Debt	$161.8B
Net Debt	$111.8B