Chubb (CB) FY2019 results: revenue $34.2 billion, up 4.5% on the year
Chubb Ltd. (CB) reported revenue of $34.2 billion for fiscal 2019, the year ended 31 December 2019, up 4.5% on the year before. Net income was $4.5 billion, up 12.4%, and diluted earnings per share $9.71. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$34.2 billion
+4.5% on the year
FY2012FY2019
Operating margin
15.4%
14.2% a year earlier
FY2012FY2019
Net income
$4.5 billion
+12.4% on the year
FY2012FY2019
Diluted EPS
$9.71
+14.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
34,186
32,717
32,243
+4.5%
Operating income
5,249
4,657
3,722
+12.7%
Operating margin
15.4%
14.2%
11.5%
Interest expense
552
641
607
-13.9%
Pre-tax income
5,249
4,657
3,722
+12.7%
Income tax
795
695
-139
+14.4%
Effective tax rate
15.1%
14.9%
-3.7%
Net income
4,454
3,962
3,861
+12.4%
Net margin
13.0%
12.1%
12.0%
Diluted EPS
$9.71
$8.49
$8.19
+14.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
6,342
5,480
4,503
+15.7%
Cash from investing
-5,905
-2,935
-2,422
Cash from financing
-151
-1,991
-2,319
Buybacks
1,530
1,044
801
+46.6%
Dividends paid
1,354
1,337
1,308
+1.3%
Diluted shares, weighted
459m
467m
471m
-1.7%
Shares outstanding at period end
452m
459m
464m
-1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
55,331
50,312
51,172
+10.0%
Short-term borrowings
1,299
509
1,013
+155.2%
Debt
13,559
12,087
11,556
+12.2%
Other liabilities
106,754
104,863
103,281
+1.8%
Total liabilities and equity
176,943
167,771
167,022
+5.5%
Fixed assets
1,900
1,700
1,300
+11.8%
Goodwill
15,296
15,271
15,541
+0.2%
Intangible assets
6,063
6,143
6,513
-1.3%
Investments
n/a
3,016
3,561
Securities held for sale or to maturity
98,069
n/a
n/a
Cash and equivalents
1,537
1,247
728
+23.3%
Other assets
54,078
140,394
139,379
-61.5%
Total assets
176,943
167,771
167,022
+5.5%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.