CM Q4 2017 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q4 2017 Earnings

Reported October 31, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$4.1B	$3.8B	$3.4B	7.5%	20.5%
Op. Income	$1.1B	$1.1B	$813M	1.9%	32.2%
Gross Margin	71.6%	74.1%	73.6%	-2.5pp	-2.0pp
Net Margin	20.7%	21.0%	19.9%	-0.3pp	0.8pp
EPS (Diluted)	$0.95	$0.95	$0.85	0.0%	12.1%
Free Cash Flow	$1.4B	$1.3B	$1.8B	9.7%	-22.7%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$2.9B
R&D Expenses	$0
Selling & Marketing	$65M
General & Administrative	$962M
SG&A Expenses	$1.0B
Other Expenses	$832M
Operating Expenses	$1.9B
Cost & Expenses	$3.0B
OPERATING INCOME	$1.1B
Interest Income	$2.8B
Interest Expense	$995M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$224M
Net Income from Continuing Ops	$851M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$847M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$829M
D&A	$111M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$2.9B
R&D Expenses	$0
Selling & Marketing	$65M
General & Administrative	$962M
SG&A Expenses	$1.0B
Other Expenses	$832M
Operating Expenses	$1.9B
Cost & Expenses	$3.0B
OPERATING INCOME	$1.1B
Interest Income	$2.8B
Interest Expense	$995M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$224M
Net Income from Continuing Ops	$851M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$847M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$829M
D&A	$111M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$847M
Depreciation & Amortization	$111M
Stock-Based Compensation	$2M
Deferred Income Tax	$22M
Other Non-Cash Items	$118M
Change in Working Capital	$357M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$48M
Acquisitions (Net)	-$20M
Purchases of Investments	-$6.6B
Sales/Maturities of Investments	$4.8B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	$0
Common Stock Repurchased	-$11M
Common Dividends Paid	-$287M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$270M
FREE CASH FLOW	$1.4B
Net Change in Cash	-$561M

Balance Sheet

Item	Amount
Cash & Equivalents	$11.4B
Short-Term Investments	$29.3B
Net Receivables	$6.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$47.6B
PP&E (Net)	$1.3B
Goodwill	$3.9B
Intangible Assets	$1.4B
Long-Term Investments	$282.0B
Tax Assets	$531M
Other Non-Current Assets	$77.5B
TOTAL NON-CURRENT ASSETS	$365.5B
TOTAL ASSETS	$413.1B
Account Payables	$3.6B
Short-Term Debt	$74.6B
Deferred Revenue	$0
Other Current Liabilities	$231.8B
TOTAL CURRENT LIABILITIES	$311.6B
Long-Term Debt	$47.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$22M
Other Non-Current Liabilities	$28.3B
TOTAL NON-CURRENT LIABILITIES	$76.0B
TOTAL LIABILITIES	$390.3B
Common Stock	$9.2B
Additional Paid-In Capital	$100M
Retained Earnings	$11.8B
Treasury Stock	$0
Accum. Other Comp. Income	$330M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$22.7B
Minority Interest	$148M
TOTAL EQUITY	$22.8B
TOTAL LIABILITIES & EQUITY	$413.1B
Total Debt	$122.3B
Net Debt	$110.9B