Chubb (CB) FY2020 results: revenue $36.0 billion, up 5.3% on the year
Chubb Ltd. (CB) reported revenue of $36.0 billion for fiscal 2020, the year ended 31 December 2020, up 5.3% on the year before. Net income was $3.5 billion, down 20.7%, and diluted earnings per share $7.79. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$36.0 billion
+5.3% on the year
FY2013FY2020
Operating margin
11.6%
15.4% a year earlier
FY2013FY2020
Net income
$3.5 billion
-20.7% on the year
FY2013FY2020
Diluted EPS
$7.79
-19.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
35,994
34,186
32,717
+5.3%
Operating income
4,162
5,249
4,657
-20.7%
Operating margin
11.6%
15.4%
14.2%
Interest expense
516
552
641
-6.5%
Pre-tax income
4,162
5,249
4,657
-20.7%
Income tax
629
795
695
-20.9%
Effective tax rate
15.1%
15.1%
14.9%
Net income
3,533
4,454
3,962
-20.7%
Net margin
9.8%
13.0%
12.1%
Diluted EPS
$7.79
$9.71
$8.49
-19.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
9,785
6,342
5,480
+54.3%
Cash from investing
-7,521
-5,905
-2,935
Cash from financing
-2,082
-151
-1,991
Buybacks
523
1,530
1,044
-65.8%
Dividends paid
1,388
1,354
1,337
+2.5%
Diluted shares, weighted
453m
459m
467m
-1.2%
Shares outstanding at period end
451m
452m
459m
-0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
59,441
55,331
50,312
+7.4%
Short-term borrowings
0.0
1,299
509
Debt
14,948
13,559
12,087
+10.2%
Other liabilities
116,385
106,754
104,863
+9.0%
Total liabilities and equity
190,774
176,943
167,771
+7.8%
Fixed assets
2,000
1,900
1,700
+5.3%
Goodwill
15,400
15,296
15,271
+0.7%
Intangible assets
5,811
6,063
6,143
-4.2%
Investments
n/a
n/a
3,016
Securities held for sale or to maturity
102,396
98,069
n/a
+4.4%
Cash and equivalents
1,747
1,537
1,247
+13.7%
Other assets
63,420
54,078
140,394
+17.3%
Total assets
190,774
176,943
167,771
+7.8%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.