CM Q4 2020 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q4 2020 Earnings

Reported December 3, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2020	Q3 2020	Q4 2019	QoQ Change	YoY Change
Revenue	$4.1B	$4.2B	—	-3.4%	—
Op. Income	$1.0B	$1.1B	—	-4.3%	—
Gross Margin	76.8%	71.8%	—	5.0pp	—
Net Margin	18.1%	20.2%	—	-2.1pp	—
EPS (Diluted)	$0.80	$0.93	—	-13.4%	—
Free Cash Flow	-$2.3B	$13.5B	—	-116.7%	—

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$949M
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$52M
General & Administrative	$1.0B
SG&A Expenses	$1.1B
Other Expenses	$1.1B
Operating Expenses	$2.1B
Cost & Expenses	$3.1B
OPERATING INCOME	$1.0B
Interest Income	$2.8B
Interest Expense	$737M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$294M
Net Income from Continuing Ops	$742M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$742M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$720M
D&A	$392M
EBIT	$1.0B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$949M
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$52M
General & Administrative	$1.0B
SG&A Expenses	$1.1B
Other Expenses	$1.1B
Operating Expenses	$2.1B
Cost & Expenses	$3.1B
OPERATING INCOME	$1.0B
Interest Income	$2.8B
Interest Expense	$737M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$294M
Net Income from Continuing Ops	$742M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$742M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$720M
D&A	$392M
EBIT	$1.0B
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$742M
Depreciation & Amortization	$392M
Stock-Based Compensation	$2M
Deferred Income Tax	-$12M
Other Non-Cash Items	$220M
Change in Working Capital	-$3.5B
OPERATING CASH FLOW	-$2.2B
Capital Expenditure	-$73M
Acquisitions (Net)	$0
Purchases of Investments	-$7.3B
Sales/Maturities of Investments	$5.3B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	-$81M
Common Stock Repurchased	$0
Common Dividends Paid	-$475M
Other Financing Activities	$0
NET CASH FROM FINANCING	$7M
FREE CASH FLOW	-$2.3B
Net Change in Cash	-$4.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$52.4B
Short-Term Investments	$39.9B
Net Receivables	$6.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$99.2B
PP&E (Net)	$2.2B
Goodwill	$3.8B
Intangible Assets	$1.4B
Long-Term Investments	$393.3B
Tax Assets	$475M
Other Non-Current Assets	$64.5B
TOTAL NON-CURRENT ASSETS	$463.2B
TOTAL ASSETS	$562.4B
Account Payables	$6.3B
Short-Term Debt	$99.8B
Deferred Revenue	$0
Other Current Liabilities	$327.1B
TOTAL CURRENT LIABILITIES	$434.8B
Long-Term Debt	$58.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$24M
Other Non-Current Liabilities	$34.1B
TOTAL NON-CURRENT LIABILITIES	$93.9B
TOTAL LIABILITIES	$532.2B
Common Stock	$10.2B
Additional Paid-In Capital	$86M
Retained Earnings	$16.2B
Treasury Stock	$0
Accum. Other Comp. Income	$1.0B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$30.1B
Minority Interest	$132M
TOTAL EQUITY	$30.2B
TOTAL LIABILITIES & EQUITY	$562.4B
Total Debt	$159.6B
Net Debt	$107.2B