Stock CM CANADIAN IMPERIAL BANK OF COMMERCE
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Financials Canadian Imperial Bank of Commerce

Equities

CM

CA1360691010

Banks

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-05-31 pm EDT 		5-day change 1st Jan Change
67.58 CAD -2.33% Intraday chart for Canadian Imperial Bank of Commerce +1.79% +5.92%
May. 31 CANADA ECONOMICS FEATURE: CIBC's Shenfeld Sings 'The First [Rates] Cut Isn't the Deepest' MT
May. 31 CIBC's Week Ahead Market Call For Canada MT

Valuation

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 49,964 44,323 67,623 55,971 45,216 63,730 - -
Enterprise Value (EV) 1 49,964 44,323 67,623 55,971 45,216 63,730 63,730 63,730
P/E ratio 10 x 12.1 x 10.8 x 9.26 x 9.48 x 9.7 x 9.64 x 9.6 x
Yield 4.99% 5.86% 3.89% 5.29% 7.03% 5.33% 5.54% 5.42%
Capitalization / Revenue 2.67 x 2.37 x 3.38 x 2.56 x 1.94 x 2.57 x 2.49 x 2.44 x
EV / Revenue 2.67 x 2.37 x 3.38 x 2.56 x 1.94 x 2.57 x 2.49 x 2.44 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.41 x 1.18 x 1.64 x 1.24 x 0.95 x 1.23 x 1.16 x 1.11 x
Nbr of stocks (in thousands) 889,747 891,989 900,625 904,657 924,480 943,036 - -
Reference price 2 56.16 49.69 75.08 61.87 48.91 67.58 67.58 67.58
Announcement Date 12/5/19 12/3/20 12/2/21 12/1/22 11/30/23 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 18,689 18,741 20,015 21,833 23,357 24,791 25,620 26,079
EBITDA - - - - - - - -
EBIT 1 8,321 8,176 8,480 9,030 10,184 10,969 11,588 10,033
Operating Margin 44.52% 43.63% 42.37% 41.36% 43.6% 44.25% 45.23% 38.47%
Earnings before Tax (EBT) 1 6,469 4,890 8,322 7,973 6,964 8,366 8,145 9,060
Net income 1 4,985 3,790 6,429 6,220 4,995 6,549 6,423 6,660
Net margin 26.67% 20.22% 32.12% 28.49% 21.39% 26.42% 25.07% 25.54%
EPS 2 5.595 4.110 6.965 6.680 5.160 6.967 7.008 7.039
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.800 2.910 2.920 3.270 3.440 3.600 3.742 3.660
Announcement Date 12/5/19 12/3/20 12/2/21 12/1/22 11/30/23 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: October 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 5,064 5,498 5,376 5,571 5,388 5,927 5,702 5,884 5,844 6,221 6,164 6,164 6,169 6,310 6,070
EBITDA - - - - - - - - - - - - - - -
EBIT 1 1,929 2,508 2,262 2,388 1,905 2,660 2,475 2,600 2,449 2,862 2,690 2,702 2,667 2,935 2,732
Operating Margin 38.09% 45.62% 42.08% 42.86% 35.36% 44.88% 43.41% 44.19% 41.91% 46.01% 43.64% 43.84% 43.23% 46.52% 45.01%
Earnings before Tax (EBT) 1 1,851 2,400 1,959 2,145 1,469 1,170 2,124 1,807 1,863 2,171 2,149 2,120 1,926 1,753 1,430
Net income 1 1,436 1,864 1,518 1,660 1,178 423 1,677 1,420 1,475 1,716 1,739 1,660 1,565 - -
Net margin 28.36% 33.9% 28.24% 29.8% 21.86% 7.14% 29.41% 24.13% 25.24% 27.58% 28.21% 26.93% 25.38% - -
EPS 2 1.535 2.015 1.620 1.780 1.260 0.3900 1.760 1.470 1.530 1.770 1.790 1.747 1.670 1.770 1.780
Dividend per Share 2 0.7300 0.8050 0.8050 0.8300 0.8300 0.8500 0.8500 0.8700 0.8700 0.9000 0.9000 0.9000 0.9000 0.9700 0.9700
Announcement Date 12/2/21 2/25/22 5/26/22 8/25/22 12/1/22 2/24/23 5/25/23 8/31/23 11/30/23 2/29/24 5/30/24 - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 15.4% 11.7% 16.7% 14.7% 13.3% 13% 13.1% 12.9%
ROA (Net income/ Total Assets) 0.8% 0.52% 0.8% 0.69% 0.53% 0.68% 0.68% 0.67%
Assets 1 623,125 728,846 803,625 901,449 942,453 970,159 940,674 993,991
Book Value Per Share 2 39.90 42.00 45.80 50.00 51.60 54.90 58.40 61.10
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 12/5/19 12/3/20 12/2/21 12/1/22 11/30/23 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Canadian Imperial Bank of Commerce

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
17
Last Close Price
67.58 CAD
Average target price
70.52 CAD
Spread / Average Target
+4.35%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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