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CAN IMPERIAL BK OF COMMERCE (CM.CA) Stock Fundamental Analysis

TSX:CM - Toronto Stock Exchange - CA1360691010 - Common Stock - Currency: CAD

88.97  +0.45 (+0.51%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to CM. CM was compared to 35 industry peers in the Banks industry. Both the profitability and financial health of CM have multiple concerns. CM is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

CM had positive earnings in the past year.
In the past year CM had a positive cash flow from operations.
In the past 5 years CM has always been profitable.
Of the past 5 years CM 4 years had a positive operating cash flow.
CM.CA Yearly Net Income VS EBIT VS OCF VS FCFCM.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B 60B

1.2 Ratios

Looking at the Return On Assets, with a value of 0.66%, CM is in line with its industry, outperforming 48.57% of the companies in the same industry.
CM's Return On Equity of 11.67% is in line compared to the rest of the industry. CM outperforms 51.43% of its industry peers.
Industry RankSector Rank
ROA 0.66%
ROE 11.67%
ROIC N/A
ROA(3y)0.59%
ROA(5y)0.6%
ROE(3y)10.88%
ROE(5y)11.06%
ROIC(3y)N/A
ROIC(5y)N/A
CM.CA Yearly ROA, ROE, ROICCM.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

With a Profit Margin value of 26.76%, CM perfoms like the industry average, outperforming 48.57% of the companies in the same industry.
In the last couple of years the Profit Margin of CM has remained more or less at the same level.
CM does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 26.76%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.12%
PM growth 5Y-0.02%
GM growth 3YN/A
GM growth 5YN/A
CM.CA Yearly Profit, Operating, Gross MarginsCM.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

0

2. Health

2.1 Basic Checks

CM does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for CM has been increased compared to 1 year ago.
The number of shares outstanding for CM has been increased compared to 5 years ago.
Compared to 1 year ago, CM has a worse debt to assets ratio.
CM.CA Yearly Shares OutstandingCM.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
CM.CA Yearly Total Debt VS Total AssetsCM.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B 800B 1T

2.2 Solvency

CM has a debt to FCF ratio of 14.73. This is a negative value and a sign of low solvency as CM would need 14.73 years to pay back of all of its debts.
With a Debt to FCF ratio value of 14.73, CM is not doing good in the industry: 68.57% of the companies in the same industry are doing better.
CM has a Debt/Equity ratio of 2.51. This is a high value indicating a heavy dependency on external financing.
CM's Debt to Equity ratio of 2.51 is on the low side compared to the rest of the industry. CM is outperformed by 68.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.51
Debt/FCF 14.73
Altman-Z N/A
ROIC/WACCN/A
WACC16.85%
CM.CA Yearly LT Debt VS Equity VS FCFCM.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
CM.CA Yearly Current Assets VS Current LiabilitesCM.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B

4

3. Growth

3.1 Past

CM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.96%, which is quite good.
Measured over the past 5 years, CM shows a small growth in Earnings Per Share. The EPS has been growing by 4.42% on average per year.
The Revenue has grown by 9.76% in the past year. This is quite good.
CM shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.59% yearly.
EPS 1Y (TTM)9.96%
EPS 3Y0.75%
EPS 5Y4.42%
EPS Q2Q%21.66%
Revenue 1Y (TTM)9.76%
Revenue growth 3Y8.56%
Revenue growth 5Y6.59%
Sales Q2Q%13.23%

3.2 Future

Based on estimates for the next years, CM will show a small growth in Earnings Per Share. The EPS will grow by 4.29% on average per year.
Based on estimates for the next years, CM will show a small growth in Revenue. The Revenue will grow by 5.16% on average per year.
EPS Next Y8.71%
EPS Next 2Y8.63%
EPS Next 3Y4.29%
EPS Next 5YN/A
Revenue Next Year7.15%
Revenue Next 2Y6.26%
Revenue Next 3Y4.89%
Revenue Next 5Y5.16%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
CM.CA Yearly Revenue VS EstimatesCM.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 10B 20B 30B
CM.CA Yearly EPS VS EstimatesCM.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8

3

4. Valuation

4.1 Price/Earnings Ratio

CM is valuated correctly with a Price/Earnings ratio of 12.02.
CM's Price/Earnings ratio is rather expensive when compared to the industry. CM is more expensive than 80.00% of the companies in the same industry.
CM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.12.
Based on the Price/Forward Earnings ratio of 11.06, the valuation of CM can be described as reasonable.
Based on the Price/Forward Earnings ratio, CM is valued more expensive than 82.86% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 94.77, CM is valued rather cheaply.
Industry RankSector Rank
PE 12.02
Fwd PE 11.06
CM.CA Price Earnings VS Forward Price EarningsCM.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

CM's Price/Free Cash Flow ratio is rather expensive when compared to the industry. CM is more expensive than 82.86% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.4
EV/EBITDA N/A
CM.CA Per share dataCM.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.38
PEG (5Y)2.72
EPS Next 2Y8.63%
EPS Next 3Y4.29%

5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.97%, CM has a reasonable but not impressive dividend return.
CM's Dividend Yield is comparable with the industry average which is at 3.91.
Compared to an average S&P500 Dividend Yield of 2.29, CM pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.97%

5.2 History

The dividend of CM has a limited annual growth rate of 3.04%.
CM has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.04%
Div Incr Years0
Div Non Decr Years0
CM.CA Yearly Dividends per shareCM.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 2 3

5.3 Sustainability

43.01% of the earnings are spent on dividend by CM. This is a bit on the high side, but may be sustainable.
CM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP43.01%
EPS Next 2Y8.63%
EPS Next 3Y4.29%
CM.CA Yearly Income VS Free CF VS DividendCM.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B
CM.CA Dividend Payout.CM.CA Dividend Payout, showing the Payout Ratio.CM.CA Dividend Payout.PayoutRetained Earnings

CAN IMPERIAL BK OF COMMERCE

TSX:CM (2/7/2025, 7:00:00 PM)

88.97

+0.45 (+0.51%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)12-05 2024-12-05/bmo
Earnings (Next)02-27 2025-02-27/bmo
Inst Owners56.32%
Inst Owner ChangeN/A
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap84.04B
Analysts76.8
Price Target97.76 (9.88%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.97%
Yearly Dividend3.15
Dividend Growth(5Y)3.04%
DP43.01%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.77%
Min EPS beat(2)3.88%
Max EPS beat(2)7.65%
EPS beat(4)4
Avg EPS beat(4)5.13%
Min EPS beat(4)3%
Max EPS beat(4)7.65%
EPS beat(8)6
Avg EPS beat(8)2.49%
EPS beat(12)7
Avg EPS beat(12)0.06%
EPS beat(16)10
Avg EPS beat(16)2.81%
Revenue beat(2)1
Avg Revenue beat(2)0.96%
Min Revenue beat(2)-0.57%
Max Revenue beat(2)2.5%
Revenue beat(4)1
Avg Revenue beat(4)0.01%
Min Revenue beat(4)-1.85%
Max Revenue beat(4)2.5%
Revenue beat(8)2
Avg Revenue beat(8)-0.93%
Revenue beat(12)3
Avg Revenue beat(12)-1.27%
Revenue beat(16)5
Avg Revenue beat(16)-1.05%
PT rev (1m)1.89%
PT rev (3m)19.59%
EPS NQ rev (1m)2.86%
EPS NQ rev (3m)10.71%
EPS NY rev (1m)3.57%
EPS NY rev (3m)8.93%
Revenue NQ rev (1m)1.97%
Revenue NQ rev (3m)6.53%
Revenue NY rev (1m)2.92%
Revenue NY rev (3m)3.12%
Valuation
Industry RankSector Rank
PE 12.02
Fwd PE 11.06
P/S 3.28
P/FCF 8.4
P/OCF 7.58
P/B 1.43
P/tB 1.67
EV/EBITDA N/A
EPS(TTM)7.4
EY8.32%
EPS(NY)8.04
Fwd EY9.04%
FCF(TTM)10.59
FCFY11.9%
OCF(TTM)11.74
OCFY13.19%
SpS27.11
BVpS62.18
TBVpS53.42
PEG (NY)1.38
PEG (5Y)2.72
Profitability
Industry RankSector Rank
ROA 0.66%
ROE 11.67%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.76%
GM N/A
FCFM 39.05%
ROA(3y)0.59%
ROA(5y)0.6%
ROE(3y)10.88%
ROE(5y)11.06%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.12%
PM growth 5Y-0.02%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 2.51
Debt/FCF 14.73
Debt/EBITDA N/A
Cap/Depr 93.08%
Cap/Sales 4.25%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 145.93%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC16.85%
ROIC/WACCN/A
Cap/Depr(3y)95.9%
Cap/Depr(5y)79.86%
Cap/Sales(3y)4.56%
Cap/Sales(5y)3.9%
Profit Quality(3y)246.24%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)9.96%
EPS 3Y0.75%
EPS 5Y4.42%
EPS Q2Q%21.66%
EPS Next Y8.71%
EPS Next 2Y8.63%
EPS Next 3Y4.29%
EPS Next 5YN/A
Revenue 1Y (TTM)9.76%
Revenue growth 3Y8.56%
Revenue growth 5Y6.59%
Sales Q2Q%13.23%
Revenue Next Year7.15%
Revenue Next 2Y6.26%
Revenue Next 3Y4.89%
Revenue Next 5Y5.16%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-10.24%
FCF growth 3YN/A
FCF growth 5Y-11.45%
OCF growth 1Y-8.77%
OCF growth 3YN/A
OCF growth 5Y-9.86%