Cash flow Chubb Limited

Equities

CB

CH0044328745

Multiline Insurance & Brokers

Market Closed - Nyse Other stock markets 04:00:02 2024-12-09 pm EST			5-day change	1st Jan Change
277.32 ^USD	-2.12%		-3.95%	+22.71%

Nov. 12	Argus Raises Price Target on Chubb to $323 From $290	MT
Nov. 05	BMO Capital Adjusts Chubb Price Target to $268 From $260	MT

95768017.R7GwB0nfzDAer4flMKQxxNbMcc0tvDKwr-d-stL7k_o.F97JVROL4XJKzfeHAZN5j5CgRKFn-njY56QUxeCMwKIegMBmcKW9flfMyg

Published financial data: CHUBB LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Premiums and Annuity Revenues	31.29B	33.12B	36.36B	40.39B	45.71B
Total Interest And Dividend Income	3.43B	3.38B	3.46B	3.78B	4.96B
Gain (Loss) on Sale of Investments, Total (Rev)	-486M	-440M	1.14B	-1.44B	-611M
Other Revenues, Total	-	-	-	-5M	-364M
Total Revenues	34.23B	36.05B	40.96B	42.73B	49.7B
Policy Benefits	19.47B	22.49B	22.68B	24.83B	27.73B
Policy Acquisition / Underwriting Costs, Total	6.04B	6.45B	6.83B	7.27B	8.26B
Amortization of Goodwill and Intangible Assets - (IS)	305M	290M	287M	285M	310M
Selling General & Admin Expenses, Total	3.14B	3.08B	3.22B	3.52B	4.01B
Other Operating Expenses	65M	83M	60M	48M	-57M
Total Operating Expenses	29.02B	32.39B	33.08B	35.95B	40.25B
Operating Income	5.21B	3.66B	7.88B	6.78B	9.45B
Interest Expense, Total	-552M	-516M	-492M	-570M	-672M
Income (Loss) on Equity Invest.	617M	1.02B	2.43B	16M	867M
Currency Exchange Gains (Loss)	-	-	-	393M	-183M
EBT, Excl. Unusual Items	5.27B	4.16B	9.82B	6.62B	9.46B
Total Merger & Related Restructuring Charges	-23M	-	-	-48M	-69M
Other Unusual Items	-	-	-	-	135M
EBT, Incl. Unusual Items	5.25B	4.16B	9.82B	6.57B	9.53B
Income Tax Expense	795M	629M	1.28B	1.26B	511M
Earnings From Continuing Operations	4.45B	3.53B	8.54B	5.31B	9.02B
Net Income to Company	4.45B	3.53B	8.54B	5.31B	9.02B
Minority Interest	-	-	-	-	13M
Net Income - (IS)	4.45B	3.53B	8.54B	5.31B	9.03B
Net Income to Common Incl Extra Items	4.45B	3.53B	8.54B	5.31B	9.03B
Net Income to Common Excl. Extra Items	4.45B	3.53B	8.54B	5.31B	9.03B
Per Share Items
Net EPS - Basic	9.77	7.82	19.41	12.66	21.97
Basic EPS - Continuing Operations	9.77	7.82	19.41	12.66	21.97
Basic Weighted Average Shares Outstanding	456M	452M	440M	420M	411M
Net EPS - Diluted	9.71	7.79	19.27	12.55	21.8
Diluted EPS - Continuing Operations	9.71	7.79	19.27	12.55	21.8
Diluted Weighted Average Shares Outstanding	459M	453M	443M	424M	414M
Normalized Basic EPS	7.23	5.76	13.94	9.85	14.42
Normalized Diluted EPS	7.18	5.74	13.84	9.76	14.31
Dividend Per Share	2.98	3.09	3.18	3.29	3.41
Payout Ratio	30.4	39.29	16.41	25.88	15.44
Supplemental Items
EBITDA	5.51B	3.95B	8.16B	7.06B	9.76B
EBITA	5.51B	3.95B	8.16B	7.06B	9.76B
EBIT	5.21B	3.66B	7.88B	6.78B	9.45B
EBITDAR	5.68B	4.1B	8.31B	7.22B	9.94B
Total Revenues (As Reported)	34.19B	35.99B	40.96B	43.17B	49.74B
Effective Tax Rate - (Ratio)	15.15	15.11	13.01	19.11	5.36
Current Domestic Taxes	29M	52M	65M	15M	25M
Current Foreign Taxes	879M	876M	1.29B	1.07B	1.57B
Total Current Taxes	908M	928M	1.36B	1.08B	1.6B
Deferred Domestic Taxes	11M	2M	-15M	34M	-63M
Deferred Foreign Taxes	-124M	-301M	-67M	140M	-1.02B
Total Deferred Taxes	-113M	-299M	-82M	174M	-1.08B
Normalized Net Income	3.3B	2.6B	6.14B	4.14B	5.93B
Non-Cash Pension Expense	-84M	-140M	-203M	-218M	-94M
Supplemental Operating Expense Items
Marketing Expenses	109M	99M	85M	121M	-
Selling and Marketing Expenses	109M	99M	85M	121M	-
General and Administrative Expenses	3.03B	2.98B	3.14B	3.4B	4.01B
Net Rental Expense, Total	171M	152M	149M	161M	181M
Imputed Operating Lease Interest Expense	43.72M	34.29M	29.91M	37.69M	50.51M
Imputed Operating Lease Depreciation	127M	118M	119M	123M	130M
Stock-Based Comp., Other (Total)	266M	255M	265M	290M	324M
Total Stock-Based Compensation	266M	255M	265M	290M	324M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Investment In Debt Securities	98.07B	102B	103B	94.07B	113B
Investment In Equity and Preferred Securities, Total	6.79B	13.36B	17.75B	15.69B	17.72B
Trading Asset Securities, Total	-	-	-	-	-
Policy Loans	247M	233M	243M	343M	651M
Total Other Investments	5.08B	5.1B	3.75B	5.93B	5.19B
Total investments	110B	121B	125B	116B	136B
Cash And Equivalents	1.54B	1.75B	1.66B	2.01B	2.45B
Reinsurance Recoverable - (IS)	15.91B	16.32B	17.58B	19.2B	20.23B
Other Receivables - (Insurance Template)	11.22B	11.35B	12.14B	12.87B	14.46B
Deferred Policy Acquisition Costs - (BS)	5.24B	5.4B	5.51B	5.79B	7.15B
Separate Account Assets	3.57B	4.39B	5.56B	5.19B	5.57B
Net Property Plant And Equipment	1.35B	1.17B	1.04B	1.41B	1.98B
Goodwill	15.3B	15.4B	15.21B	16.29B	19.69B
Other Intangibles, Total	7.16B	7.11B	6.86B	7.04B	8.48B
Restricted Cash	109M	89M	152M	115M	172M
Other Current Assets, Total	2.67B	2.8B	3.09B	3.17B	3.28B
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	1.74B
Other Long-Term Assets, Total	2.67B	3.95B	6.28B	10.02B	9.02B
Total Assets	177B	191B	200B	199B	231B
Liabilities
Accounts Payable, Total	8.87B	10.65B	11.21B	11.32B	6.34B
Insurance And Annuity Liabilities	13.42B	13.83B	15.2B	20.21B	30.34B
Unpaid Claims	62.69B	67.81B	72.94B	76.32B	80.12B
Unearned Premiums	16.77B	17.65B	19.1B	20.36B	22.05B
Reinsurance Payable - (BS)	206M	233M	269M	276M	84M
Current Portion of Long-Term Debt	1.3B	-	999M	475M	1.46B
Current Portion of Leases	158M	150M	142M	160M	166M
Short-Term Borrowings	2.41B	3.25B	3.24B	2.94B	4.13B
Long-Term Debt	13.56B	14.95B	15.17B	14.4B	13.04B
Long-Term Leases	445M	367M	342M	473M	666M
Trust Preferred Securities (BS)	308M	308M	308M	308M	308M
Separate Account Liability	-	-	-	-	5.57B
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	549M	1.14B	927M	928M	1.04B
Pension & Other Post Retirement Benefits	120M	109M	111M	133M	123M
Deferred Tax Liability Non-Current	804M	892M	389M	292M	1.56B
Total Liabilities	122B	131B	140B	149B	167B
Common Stock, Total	11.12B	11.06B	10.98B	10.35B	241M
Additional Paid In Capital	11.2B	9.82B	8.48B	7.17B	15.66B
Retained Earnings	36.14B	39.34B	47.36B	48.33B	54.81B
Treasury Stock	-3.75B	-3.64B	-7.46B	-5.11B	-4.4B
Comprehensive Income and Other	619M	2.87B	350M	-10.19B	-6.81B
Total Common Equity	55.33B	59.44B	59.71B	50.54B	59.51B
Minority Interest	-	-	-	-	4.18B
Total Equity	55.33B	59.44B	59.71B	50.54B	63.69B
Total Liabilities And Equity	177B	191B	200B	199B	231B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	452M	450M	426M	414M	406M
ECS Total Common Shares Outstanding	452M	451M	427M	415M	405M
Book Value / Share	122.42	131.88	139.99	121.9	146.83
Tangible Book Value	32.87B	36.93B	37.65B	27.21B	31.35B
Tangible Book Value Per Share	72.73	81.93	88.25	65.64	77.35
Total Debt	18.18B	19.02B	20.2B	18.76B	19.77B
Net Debt	16.64B	17.28B	18.54B	16.75B	17.32B
Debt Equivalent of Unfunded Proj. Benefit Obligation	169M	143M	-615M	-776M	-999M
Debt Equivalent Oper. Leases	1.37B	1.22B	1.19B	1.29B	1.45B
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	4.18B
Equity Method Investments, Total	5.98B	9.33B	12.97B	14.86B	191M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	33K	31K	31K	34K	40K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	4.45B	3.53B	8.54B	5.31B	9.03B
Amortization of Goodwill and Intangible Assets - (CF)	305M	290M	287M	285M	310M
Total Depreciation, Depletion & Amortization	305M	290M	287M	285M	310M
(Gain) Loss on Sale of Investments - (CF)	782M	73M	-366M	1.66B	716M
Deferred Policy Acquisition Costs - (CF)	-344M	-89M	-247M	-328M	-1.1B
Amort. Of Deferred Policy Acq. Costs - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-2.43B	-16M	-867M
Change in Accounts Receivable	-270M	-114M	-984M	-696M	-1.07B
Reinsurance Recoverable - (CF)	838M	-336M	-1.95B	-1.78B	-498M
Change in Accounts Payable	-207M	-98M	536M	223M	-735M
Change in Unearned Revenues	1.05B	846M	1.86B	1.48B	1.38B
Change In Income Taxes	-7M	46M	48M	-149M	128M
Change in insurance Reserves / Liabilities	-344M	5.44B	6.61B	5.15B	4.16B
Change in Other Net Operating Assets (Collected)	-	-	-	-	-
Other Operating Activities	84M	199M	-747M	103M	1.18B
Cash from Operations	6.34B	9.78B	11.15B	11.24B	12.63B
Cash Acquisitions	-29M	-	-	-4.98B	-34M
Divestitures	-	-	-	-	-17M
Investment in Marketable and Equity Securities, Total	-5.33B	-7.84B	-7.52B	-1.04B	-7.72B
Other Investing Activities, Total	-550M	324M	865M	373M	122M
Cash from Investing	-5.9B	-7.52B	-6.66B	-5.65B	-7.65B
Short Term Debt Issued, Total	2.82B	2.35B	1.86B	4.51B	4.98B
Long-Term Debt Issued, Total	2.83B	988M	1.58B	-	-
Total Debt Issued	5.64B	3.34B	3.43B	4.51B	4.98B
Short Term Debt Repaid, Total	-2.82B	-2.35B	-1.86B	-4.51B	-4.73B
Long-Term Debt Repaid, Total	-510M	-1.3B	-	-1B	-475M
Total Debt Repaid	-3.33B	-3.66B	-1.86B	-5.51B	-5.2B
Issuance of Common Stock	204M	145M	300M	264M	212M
Repurchase of Common Stock	-1.53B	-523M	-4.86B	-3B	-2.41B
Common Dividends Paid	-1.35B	-1.39B	-1.4B	-1.38B	-1.39B
Common & Preferred Stock Dividends Paid	-1.35B	-1.39B	-1.4B	-1.38B	-1.39B
Annuity Receipts	514M	470M	512M	496M	645M
Annuity Payments	-303M	-386M	-454M	-519M	-458M
Other Financing Activities, Total	-	-87M	-81M	-	-864M
Cash from Financing	-151M	-2.08B	-4.41B	-5.13B	-4.49B
Foreign Exchange Rate Adjustments	20M	8M	-106M	-146M	-1M
Net Change in Cash	306M	190M	-25M	316M	494M
Supplemental Items
Cash Interest Paid	512M	524M	492M	552M	553M
Cash Income Tax Paid (Refund)	912M	902M	1.3B	1.24B	1.46B
Net Debt Issued / Repaid	2.32B	-313M	1.58B	-998M	-219M
Levered Free Cash Flow	3.8B	8.6B	11.17B	5B	11.34B
Unlevered Free Cash Flow	4.15B	8.92B	11.48B	5.35B	11.76B
Change In Net Working Capital	-322M	-6.09B	-6.01B	-542M	-5.22B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.89	1.24	2.52	2.12	2.75
Return on Total Capital	4.64	3.02	6.22	5.68	7.73
Return On Equity %	8.43	6.16	14.33	9.64	15.79
Return on Common Equity	8.43	6.16	14.33	9.64	16.41
Margin Analysis
Gross Profit Margin %	25.46	19.72	27.94	24.87	27.58
SG&A Margin	9.17	8.54	7.86	8.23	8.06
EBITDA Margin %	16.1	10.95	19.93	16.53	19.64
EBITA Margin %	16.1	10.95	19.93	16.53	19.64
EBIT Margin %	15.21	10.15	19.23	15.86	19.01
Income From Continuing Operations Margin %	13.01	9.8	20.85	12.43	18.14
Net Income Margin %	13.01	9.8	20.85	12.43	18.17
Net Avail. For Common Margin %	13.01	9.8	20.85	12.43	18.17
Normalized Net Income Margin	9.63	7.22	14.98	9.68	11.92
Levered Free Cash Flow Margin	11.11	23.86	27.28	11.69	22.82
Unlevered Free Cash Flow Margin	12.12	24.76	28.04	12.53	23.66
Asset Turnover
Asset Turnover	0.2	0.2	0.21	0.21	0.23
Fixed Assets Turnover	22.44	19.9	23.28	22.19	19.91
Receivables Turnover (Average Receivables)	3.4	3.5	3.65	3.8	4
Short Term Liquidity
Current Ratio	0.38	0.36	0.35	0.38	0.39
Quick Ratio	0.17	0.16	0.15	0.17	0.18
Operating Cash Flow to Current Liabilities	0.07	0.1	0.1	0.1	0.11
Days Sales Outstanding (Average Receivables)	107.41	104.49	99.94	96.08	91.17
Average Days Payable Outstanding	1.02K	955.35	1K	979.67	851.42
Long Term Solvency
Total Debt/Equity	32.85	32	33.82	37.12	31.04
Total Debt / Total Capital	24.73	24.24	25.27	27.07	23.68
LT Debt/Equity	25.87	26.28	26.49	30.04	22
Long-Term Debt / Total Capital	19.47	19.91	19.8	21.91	16.79
Total Liabilities / Total Assets	68.73	68.84	70.15	74.62	72.39
EBIT / Interest Expense	9.43	7.09	16.01	11.89	14.06
EBITDA / Interest Expense	10.3	7.95	16.89	12.67	14.79
(EBITDA - Capex) / Interest Expense	10.3	7.95	16.89	12.67	14.79
Total Debt / EBITDA	3.2	4.64	2.43	2.6	1.99
Net Debt / EBITDA	2.93	4.21	2.23	2.32	1.74
Total Debt / (EBITDA - Capex)	3.2	4.64	2.43	2.6	1.99
Net Debt / (EBITDA - Capex)	2.93	4.21	2.23	2.32	1.74
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.75	5.32	13.6	5.23	16.08
Gross Profit, 1 Yr. Growth %	5.98	-18.43	60.94	-4.23	29.48
EBITDA, 1 Yr. Growth %	6.37	-28.36	106.69