CM Q3 2021 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q3 2021 Earnings

Reported August 26, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$4.2B	$4.2B	$4.2B	1.2%	0.3%
Op. Income	$1.6B	$1.6B	$1.1B	4.3%	51.0%
Gross Margin	88.5%	85.1%	71.8%	3.4pp	16.7pp
Net Margin	29.7%	28.7%	20.2%	1.0pp	9.5pp
EPS (Diluted)	$1.37	$1.30	$0.93	5.6%	48.0%
Free Cash Flow	$5.1B	-$13.1B	$13.5B	139.2%	-62.0%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$488M
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$40M
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$900M
Operating Expenses	$2.1B
Cost & Expenses	$2.6B
OPERATING INCOME	$1.6B
Interest Income	$2.7B
Interest Expense	$561M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$371M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$178M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$488M
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$40M
General & Administrative	$1.2B
SG&A Expenses	$1.2B
Other Expenses	$900M
Operating Expenses	$2.1B
Cost & Expenses	$2.6B
OPERATING INCOME	$1.6B
Interest Income	$2.7B
Interest Expense	$561M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$371M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$178M
EBIT	$1.6B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$178M
Stock-Based Compensation	$2M
Deferred Income Tax	-$32M
Other Non-Cash Items	-$120M
Change in Working Capital	$4.0B
OPERATING CASH FLOW	$5.3B
Capital Expenditure	-$153M
Acquisitions (Net)	$0
Purchases of Investments	-$9.2B
Sales/Maturities of Investments	$7.0B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.4B
Net Debt Issuance	-$55M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$479M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$472M
FREE CASH FLOW	$5.1B
Net Change in Cash	$2.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$36.8B
Short-Term Investments	$37.8B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$74.6B
PP&E (Net)	$2.3B
Goodwill	$3.6B
Intangible Assets	$1.4B
Long-Term Investments	$425.3B
Tax Assets	$318M
Other Non-Current Assets	$83.6B
TOTAL NON-CURRENT ASSETS	$514.5B
TOTAL ASSETS	$589.1B
Account Payables	$0
Short-Term Debt	$104.0B
Deferred Revenue	$0
Other Current Liabilities	$342.5B
TOTAL CURRENT LIABILITIES	$446.6B
Long-Term Debt	$61.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$26M
Other Non-Current Liabilities	$48.7B
TOTAL NON-CURRENT LIABILITIES	$110.1B
TOTAL LIABILITIES	$556.7B
Common Stock	$10.4B
Additional Paid-In Capital	$86M
Retained Earnings	$18.3B
Treasury Stock	$0
Accum. Other Comp. Income	$810M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$32.2B
Minority Interest	$129M
TOTAL EQUITY	$32.4B
TOTAL LIABILITIES & EQUITY	$589.1B
Total Debt	$165.4B
Net Debt	$128.7B