Canadian Imperial Bank of Commerce (CM) 10-Year Financial Performance & Capital Metrics

CM • • Banking & Credit

Financial ServicesDiversified BanksRegional & Domestic Diversified BanksCanadian Diversified Banks

AboutCanadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S. Commercial Banking and Wealth Management; and Capital Markets. The company offers chequing, savings, and business accounts; mortgages; loans, lines of credit, student lines of credit, and business and agriculture loans; investment and insurance services; and credit cards, as well as overdraft protection services. It also provides day-to-day banking, borrowing and credit, specialty, investing and wealth, and international services; correspondent banking and online foreign exchange services; and cash management services. Canadian Imperial Bank of Commerce was founded in 1867 and is headquartered in Toronto, Canada.Show more

Net Interest Income $13.7B +6.8%
Total Revenue $64.02B +15.4%
Net Income $7.12B +42.3%
Return on Equity 12.69% +31.3%
Net Interest Margin 1.31%
Efficiency Ratio 22.43% -13.1%
ROA 0.71% +35.3%
Equity / Assets 5.66% +3.9%
Book Value per Share 62.66 +8.0%
Tangible BV/Share 53.87 +9.7%
Debt/Equity 5.40 +1.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 22.4% efficiency ratio
✓Healthy dividend yield of 3.4%
✓Trading near 52-week high
✓Trading at only 1.5x book value

✗Weaknesses

✗High debt to equity ratio of 5.4x
✗Weak NIM of 1.3%
✗Thin capital base

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.13%

5Y17.47%

3Y40.18%

TTM-

Profit (Net Income) CAGR

10Y8.26%

5Y6.9%

3Y3.44%

TTM21.04%

EPS CAGR

10Y6.36%

5Y5.39%

3Y1.51%

TTM19.97%

ROCE

10Y Avg3.81%

5Y Avg3.59%

3Y Avg3.47%

Latest3.77%

Peer Comparison

Canadian Diversified Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TDThe Toronto-Dominion Bank	157.92B	94.07	19.93	16.55%	7.42%	16.66%	33.41%	5.75
RYRoyal Bank of Canada	237.1B	169.33	15.08	18.54%	12.07%	14.12%	8.8%	6.13
BMOBank of Montreal	95.6B	134.86	14.18	15.51%	9.32%	10.05%	28.73%	4.43
CMCanadian Imperial Bank of Commerce	85.29B	92.04	12.64	15.36%	11.11%	12.93%	11.72%	5.40
BNSThe Bank of Nova Scotia	90.93B	73.55	12.55	-7.25%	26.31%	8.44%	16.68%	3.58

Profit & Loss

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Net Interest Income+	7.92B	8.37B	8.98B	10.06B	10.55B	11.04B	11.46B	12.64B	12.82B	13.7B
NII Growth %	0.06%	0.06%	0.07%	0.12%	0.05%	0.05%	0.04%	0.1%	0.01%	0.07%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	11.48B	12.09B	13.59B	17.5B	20.7B	17.52B	14.74B	22.18B	45.02B	52.19B
Interest Expense	3.57B	3.73B	4.62B	7.44B	10.15B	6.48B	3.28B	9.54B	32.19B	38.49B
Loan Loss Provision	771M	1.05B	829M	842M	1.29B	2.49B	158M	963M	2.01B	2B
Non-Interest Income+	5.76B	6.07B	6.9B	7.63B	7.92B	7.62B	8.5B	9.12B	10.47B	11.83B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	17.25B	18.16B	20.49B	25.14B	28.61B	25.14B	23.24B	31.3B	55.49B	64.02B
Revenue Growth %	0.01%	0.05%	0.13%	0.23%	0.14%	-0.12%	-0.08%	0.35%	0.77%	0.15%
Non-Interest Expense	8.68B	8.38B	9.16B	10.15B	10.71B	11.28B	11.48B	12.83B	14.32B	14.36B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	4.22B	5.01B	5.88B	6.71B	6.47B	4.89B	8.32B	7.97B	6.97B	9.17B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.08%	0.19%	0.17%	0.14%	-0.04%	-0.24%	0.7%	-0.04%	-0.13%	0.31%
Pretax Income+	4.22B	5.01B	5.88B	6.71B	6.47B	4.89B	8.32B	7.97B	6.97B	9.17B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	634M	718M	1.16B	1.42B	1.35B	1.1B	1.88B	1.73B	1.93B	2.01B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	3.58B	4.28B	4.7B	5.27B	5.1B	3.79B	6.43B	6.22B	5B	7.12B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.11%	0.2%	0.1%	0.12%	-0.03%	-0.26%	0.7%	-0.03%	-0.2%	0.42%
Net Income (Continuing)	3.59B	4.29B	4.72B	5.28B	5.12B	3.79B	6.45B	6.24B	5.04B	7.15B
EPS (Diluted)+	4.43	5.35	5.62	5.83	5.60	4.11	6.96	6.68	5.17	7.28
EPS Growth %	0.13%	0.21%	0.05%	0.04%	-0.04%	-0.27%	0.69%	-0.04%	-0.23%	0.41%
EPS (Basic)	4.45	5.36	5.63	5.85	5.61	4.12	6.98	6.70	5.17	7.29
Diluted Shares Outstanding	795.66M	791.84M	827.13M	889.25M	890.91M	892.04M	900.37M	905.68M	916.22M	941.71M

Balance Sheet

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	20.03B	15.18B	15.65B	20.69B	22.83B	71.67B	69.27B	73.33B	63.17B	56.03B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	338.18B	373.45B	424.38B	495.02B	534.73B	592.76B	649.89B	736.63B	778.5B	849.85B
Investments Growth %	0.14%	0.1%	0.14%	0.17%	0.08%	0.11%	0.1%	0.13%	0.06%	0.09%
Long-Term Investments	311.31B	337.89B	385.84B	460.45B	489.85B	538.2B	598.74B	683.6B	717.17B	816.55B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.53B	1.54B	5.37B	5.56B	5.45B	5.25B	4.95B	5.35B	5.42B	5.44B
Intangible Assets	1.2B	1.41B	1.98B	1.95B	1.97B	1.96B	2.03B	2.59B	2.74B	2.83B
PP&E (Net)	1.9B	1.9B	1.78B	1.79B	1.81B	3B	3.29B	3.38B	3.25B	3.36B
Other Assets	90.71B	97.33B	106.01B	60.4B	71.65B	88.26B	96.86B	101.43B	111.32B	104.02B
Total Current Assets	57.83B	62.21B	65.17B	67.99B	82.27B	135.77B	134.25B	149.84B	139.04B	108.97B
Total Non-Current Assets	405.48B	439.15B	500.09B	529.11B	569.33B	633.78B	703.43B	793.76B	836.65B	933.02B
Total Assets+	463.31B	501.36B	565.26B	597.1B	651.6B	769.55B	837.68B	943.6B	975.69B	1.04T
Asset Growth %	0.12%	0.08%	0.13%	0.06%	0.09%	0.18%	0.09%	0.13%	0.03%	0.07%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	3.99B	4.14B	4.95B	7.27B	8.44B	8.66B	8.85B	11.23B	13.24B	14.13B
Total Debt+	136.64B	144.58B	167.38B	178.39B	198.03B	218.34B	236.05B	264.63B	281.62B	318.65B
Net Debt	116.62B	129.4B	151.72B	157.7B	175.2B	146.67B	166.78B	191.3B	218.45B	262.62B
Long-Term Debt	65.08B	62.86B	65.29B	77.86B	75.4B	79.89B	87.94B	107.25B	116.84B	125.1B
Short-Term Debt	71.57B	81.72B	102.09B	100.52B	122.63B	136.59B	148.11B	157.38B	164.77B	193.55B
Other Liabilities	45.73B	49.63B	38.71B	38.53B	40.61B	46.65B	51.98B	76.96B	67.64B	56.32B
Total Current Liabilities	328.17B	362.33B	426.35B	441.42B	493.15B	595.01B	651.9B	703.04B	734.62B	797.05B
Total Non-Current Liabilities	110.84B	112.5B	104.02B	116.44B	116.05B	128.43B	139.95B	184.25B	184.53B	181.46B
Total Liabilities	441.76B	477.68B	534.03B	561.98B	613.02B	728.22B	791.85B	893.22B	922.53B	982.98B
Total Equity+	21.55B	23.67B	31.24B	35.12B	38.58B	41.34B	45.83B	50.38B	53.16B	59.01B
Equity Growth %	0.15%	0.1%	0.32%	0.12%	0.1%	0.07%	0.11%	0.1%	0.06%	0.11%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.18%	0.19%	0.17%	0.16%	0.14%	0.09%	0.15%	0.13%	0.1%	0.13%
Book Value per Share	27.09	29.90	37.77	39.49	43.30	46.34	50.90	55.63	58.02	62.66
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	7.81B	8.03B	12.55B	13.24B	13.59B	13.91B	14.35B	14.73B	16.08B	17.01B
Additional Paid-in Capital	76M	72M	137M	136M	125M	117M	110M	115M	109M	159M
Retained Earnings	11.43B	13.58B	16.1B	18.54B	20.97B	22.12B	25.79B	28.82B	30.35B	33.47B
Accumulated OCI	1.04B	790M	452M	777M	881M	1.44B	1.07B	1.59B	1.46B	3.15B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	1B	1B	1.8B	2.25B	2.83B	3.58B	4.33B	4.92B	4.92B	4.95B

Cash Flow

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	19.48B	10.21B	2.46B	9.87B	19.09B	60.3B	-3.33B	22.71B	12.15B	11.09B
Operating CF Growth %	2.18%	-0.48%	-0.76%	3.02%	0.93%	2.16%	-1.06%	7.82%	-0.46%	-0.09%
Net Income	3.59B	4.29B	4.72B	5.28B	5.1B	3.79B	6.45B	6.24B	5.04B	7.15B
Depreciation & Amortization	435M	462M	542M	657M	838M	1.31B	1.02B	1.05B	1.14B	1.17B
Deferred Taxes	-61M	-20M	21M	69M	108M	-228M	-41M	-46M	-84M	-244M
Other Non-Cash Items	374M	214M	366M	599M	1.02B	1.72B	995M	-110M	3.75B	135M
Working Capital Changes	15.14B	5.25B	-3.2B	3.23B	11.99B	53.69B	-11.77B	15.56B	2.3B	2.86B
Cash from Investing+	-16.5B	-7.38B	-1.97B	-7.99B	-18.34B	-19.88B	-3.51B	-24.39B	-20.76B	-20.75B
Purchase of Investments	-41.15B	-31.63B	-37.86B	-33.01B	-42.3B	-54.08B	-49.9B	-70.95B	-79.49B	-76.53B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	-2.52B	-315M	-25M	0	0	-3.08B	0	0
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	-2.9B	-2.44B	-501M	-993M	-1.29B	-1.22B	-1.95B	-1.61B	-2.16B	-2.61B
Dividends Paid	-1.75B	-1.75B	-1.43B	-2.11B	-2.41B	-2.57B	-2.65B	-2.97B	-2.26B	-2.95B
Share Repurchases	-642M	-270M	-7M	-417M	-109M	-234M	-15M	-934M	0	-423M
Stock Issued	29M	101M	194M	192M	158M	177M	284M	229M	183M	312M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	1000K	-1000K	1000K
Other Financing	0	0	0	0	0	0	0	0	0	0
Net Change in Cash+	359M	447M	-60M	940M	-540M	39.69B	-8.96B	-3.04B	-10.72B	-12.25B
Exchange Rate Effect	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K
Cash at Beginning	2.69B	3.05B	3.5B	3.44B	4.38B	3.84B	43.53B	34.57B	31.54B	20.82B
Cash at End	3.05B	3.5B	3.44B	4.38B	3.84B	43.53B	34.57B	31.54B	20.82B	8.56B
Interest Paid	3.65B	3.8B	4.53B	7.24B	10.01B	6.72B	3.7B	8.31B	29.67B	38.04B
Income Taxes Paid	555M	730M	2.2B	1.65B	1.55B	39M	1.37B	2.58B	1.66B	2.51B
Free Cash Flow+	19.23B	10.04B	2.66B	9.61B	18.36B	59.99B	-4.17B	21.61B	11.14B	10B
FCF Growth %	2.14%	-0.48%	-0.74%	2.62%	0.91%	2.27%	-1.07%	6.18%	-0.48%	-0.1%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	17.73%	18.91%	17.12%	15.88%	13.83%	9.49%	14.75%	12.93%	9.66%	12.69%
Return on Assets (ROA)	0.81%	0.89%	0.88%	0.91%	0.82%	0.53%	0.8%	0.7%	0.52%	0.71%
Net Interest Margin	1.71%	1.67%	1.59%	1.69%	1.62%	1.44%	1.37%	1.34%	1.31%	1.31%
Efficiency Ratio	50.35%	46.11%	44.73%	40.37%	37.44%	44.88%	49.39%	40.98%	25.8%	22.43%
Equity / Assets	4.65%	4.72%	5.53%	5.88%	5.92%	5.37%	5.47%	5.34%	5.45%	5.66%
Book Value / Share	27.09	29.9	37.77	39.49	43.3	46.34	50.9	55.63	58.02	62.66
NII Growth	6.11%	5.7%	7.3%	12.12%	4.83%	4.67%	3.76%	10.32%	1.46%	6.78%
Dividend Payout	49.02%	41.01%	30.33%	40.04%	47.21%	67.84%	41.2%	47.78%	45.21%	41.42%

Revenue by Geography

	2018	2019	2020	2021	2022	2024
CANADA	13.99B	13.9B	13.69B	15.39B	16.34B	17.34B
CANADA Growth	-	-0.68%	-1.48%	12.39%	6.16%	6.16%
UNITED STATES	2.1B	2.5B	2.75B	2.83B	3.28B	4.83B
UNITED STATES Growth	-	19.29%	9.82%	3.09%	15.80%	47.24%
Caribbean	1.36B	1.46B	1.51B	1.29B	1.59B	-
Caribbean Growth	-	7.57%	2.94%	-14.08%	22.95%	-
Other Countries	382M	746M	793M	497M	622M	-
Other Countries Growth	-	95.29%	6.30%	-37.33%	25.15%	-

Frequently Asked Questions

Valuation & Price

Canadian Imperial Bank of Commerce (CM) has a price-to-earnings (P/E) ratio of 12.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Canadian Imperial Bank of Commerce (CM) grew revenue by 15.4% over the past year. This is strong growth.

Yes, Canadian Imperial Bank of Commerce (CM) is profitable, generating $8.13B in net income for fiscal year 2024 (11.1% net margin).

Dividend & Returns

Yes, Canadian Imperial Bank of Commerce (CM) pays a dividend with a yield of 3.40%. This makes it attractive for income-focused investors.

Canadian Imperial Bank of Commerce (CM) has a return on equity (ROE) of 12.7%. This is reasonable for most industries.

Industry Metrics

Canadian Imperial Bank of Commerce (CM) has a net interest margin (NIM) of 1.3%. NIM has been under pressure due to interest rate environment.

Canadian Imperial Bank of Commerce (CM) has an efficiency ratio of 22.4%. This is excellent, indicating strong cost control.

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