CM Q4 2021 Earnings Report — Canadian Imperial Bank of Commerce Revenue & Financial Results | Market Cap Arena

Canadian Imperial Bank of CommerceCM

Q4 2021 Earnings

Reported December 2, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2021	Q3 2021	Q4 2020	QoQ Change	YoY Change
Revenue	$4.2B	$4.2B	$4.1B	-0.0%	3.8%
Op. Income	$1.4B	$1.6B	$1.0B	-17.3%	30.5%
Gross Margin	85.6%	88.5%	76.8%	-2.9pp	8.8pp
Net Margin	24.7%	29.7%	18.1%	-5.0pp	6.6pp
EPS (Diluted)	$1.13	$1.37	$0.80	-18.1%	40.0%
Free Cash Flow	$5.9B	$5.1B	-$2.3B	14.4%	359.7%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$610M
GROSS PROFIT	$3.6B
R&D Expenses	$0
Selling & Marketing	$64M
General & Administrative	$1.2B
SG&A Expenses	$1.3B
Other Expenses	$1000M
Operating Expenses	$2.3B
Cost & Expenses	$2.9B
OPERATING INCOME	$1.4B
Interest Income	$2.7B
Interest Expense	$553M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$300M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$210M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$610M
GROSS PROFIT	$3.6B
R&D Expenses	$0
Selling & Marketing	$64M
General & Administrative	$1.2B
SG&A Expenses	$1.3B
Other Expenses	$1000M
Operating Expenses	$2.3B
Cost & Expenses	$2.9B
OPERATING INCOME	$1.4B
Interest Income	$2.7B
Interest Expense	$553M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$300M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$210M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$210M
Stock-Based Compensation	$1M
Deferred Income Tax	-$8M
Other Non-Cash Items	$384M
Change in Working Capital	$4.4B
OPERATING CASH FLOW	$6.1B
Capital Expenditure	-$197M
Acquisitions (Net)	$0
Purchases of Investments	-$11.1B
Sales/Maturities of Investments	$8.4B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	-$60M
Common Stock Repurchased	$0
Common Dividends Paid	-$490M
Other Financing Activities	$0
NET CASH FROM FINANCING	$34M
FREE CASH FLOW	$5.9B
Net Change in Cash	$3.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$50.6B
Short-Term Investments	$39.5B
Net Receivables	$7.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$98.1B
PP&E (Net)	$2.4B
Goodwill	$3.6B
Intangible Assets	$1.5B
Long-Term Investments	$437.6B
Tax Assets	$294M
Other Non-Current Assets	$70.8B
TOTAL NON-CURRENT ASSETS	$514.1B
TOTAL ASSETS	$612.2B
Account Payables	$6.5B
Short-Term Debt	$108.2B
Deferred Revenue	$0
Other Current Liabilities	$354.7B
TOTAL CURRENT LIABILITIES	$476.4B
Long-Term Debt	$64.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$28M
Other Non-Current Liabilities	$38.0B
TOTAL NON-CURRENT LIABILITIES	$102.3B
TOTAL LIABILITIES	$578.7B
Common Stock	$10.5B
Additional Paid-In Capital	$80M
Retained Earnings	$18.8B
Treasury Stock	$0
Accum. Other Comp. Income	$781M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$33.4B
Minority Interest	$133M
TOTAL EQUITY	$33.5B
TOTAL LIABILITIES & EQUITY	$612.2B
Total Debt	$172.5B
Net Debt	$121.9B