CM Q4 2018 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q4 2018 Earnings

Reported October 31, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2018	Q3 2018	Q4 2017	QoQ Change	YoY Change
Revenue	$4.9B	$4.7B	$4.1B	3.0%	19.3%
Op. Income	$1.2B	$1.3B	$1.1B	-7.9%	8.6%
Gross Margin	63.6%	65.8%	71.6%	-2.2pp	-8.0pp
Net Margin	18.9%	21.0%	20.7%	-2.1pp	-1.7pp
EPS (Diluted)	$1.02	$1.10	$0.95	-7.3%	7.7%
Free Cash Flow	-$983M	$1.3B	$1.4B	-173.3%	-169.6%

Revenue Flow

Item	Amount
REVENUE	$4.9B
Cost of Revenue	$1.8B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$69M
General & Administrative	$990M
SG&A Expenses	$1.1B
Other Expenses	$881M
Operating Expenses	$1.9B
Cost & Expenses	$3.7B
OPERATING INCOME	$1.2B
Interest Income	$3.5B
Interest Expense	$1.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$241M
Net Income from Continuing Ops	$927M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$926M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$908M
D&A	$118M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.9B
Cost of Revenue	$1.8B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$69M
General & Administrative	$990M
SG&A Expenses	$1.1B
Other Expenses	$881M
Operating Expenses	$1.9B
Cost & Expenses	$3.7B
OPERATING INCOME	$1.2B
Interest Income	$3.5B
Interest Expense	$1.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$241M
Net Income from Continuing Ops	$927M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$926M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$908M
D&A	$118M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$926M
Depreciation & Amortization	$118M
Stock-Based Compensation	$6M
Deferred Income Tax	-$24M
Other Non-Cash Items	$244M
Change in Working Capital	-$2.2B
OPERATING CASH FLOW	-$886M
Capital Expenditure	-$97M
Acquisitions (Net)	$0
Purchases of Investments	-$6.3B
Sales/Maturities of Investments	$8.4B
Other Investing Activities	$0
NET CASH FROM INVESTING	$2.0B
Net Debt Issuance	-$14M
Common Stock Repurchased	-$157M
Common Dividends Paid	-$423M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$563M
FREE CASH FLOW	-$983M
Net Change in Cash	$524M

Balance Sheet

Item	Amount
Cash & Equivalents	$15.1B
Short-Term Investments	$26.5B
Net Receivables	$7.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$49.7B
PP&E (Net)	$1.3B
Goodwill	$4.1B
Intangible Assets	$1.4B
Long-Term Investments	$336.8B
Tax Assets	$440M
Other Non-Current Assets	$44.2B
TOTAL NON-CURRENT ASSETS	$387.0B
TOTAL ASSETS	$436.7B
Account Payables	$5.3B
Short-Term Debt	$73.5B
Deferred Revenue	$0
Other Current Liabilities	$242.3B
TOTAL CURRENT LIABILITIES	$322.9B
Long-Term Debt	$57.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$31M
Other Non-Current Liabilities	$28.2B
TOTAL NON-CURRENT LIABILITIES	$85.2B
TOTAL LIABILITIES	$411.0B
Common Stock	$9.7B
Additional Paid-In Capital	$99M
Retained Earnings	$13.6B
Treasury Stock	$0
Accum. Other Comp. Income	$568M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.6B
Minority Interest	$127M
TOTAL EQUITY	$25.7B
TOTAL LIABILITIES & EQUITY	$436.7B
Total Debt	$130.5B
Net Debt	$115.3B