Canadian Imperial Bank of Commerce (CM) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Diversified
EV/EBITDA
↑
37.27
↑+31% vs avg
5yr avg: 28.53
30Y Low9.8·High38.3
P/FCF
↑
N/A
—
5yr avg: 3.57
30Y Low0.6·High59.1
P/B Ratio
↑
2.39
↑+147% vs avg
5yr avg: 0.96
30Y Low0.6·High2.7
ROE
↓
13.7%
↓+7% vs avg
5yr avg: 12.7%
30Y Low-15%·High25%
Debt/EBITDA
↑
29.37
↓-2% vs avg
5yr avg: 29.90
30Y Low3.2·High35.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Canadian Imperial Bank of Commerce trades at 19.1x earnings, 135% above its 5-year average of 8.1x, sitting at the 96th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.9x, the stock trades at a premium of 37%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $106.4B | $78.0B | $58.9B | $32.3B | $41.1B | $54.6B | $33.3B | $38.0B | $38.4B | $36.4B | $29.7B |
| Enterprise Value | $317.2B | $378.0B | $321.5B | $250.8B | $232.4B | $221.4B | $179.9B | $213.2B | $196.1B | $188.1B | $159.1B |
| P/E Ratio → | 19.08 | 9.67 | 8.59 | 6.82 | 6.80 | 8.71 | 9.08 | 7.61 | 7.40 | 7.83 | 7.01 |
| P/S Ratio | 2.44 | 1.26 | 0.92 | 0.58 | 1.31 | 2.35 | 1.32 | 1.33 | 1.53 | 1.78 | 1.63 |
| P/B Ratio | 2.39 | 1.21 | 1.00 | 0.61 | 0.82 | 1.19 | 0.81 | 0.98 | 1.09 | 1.17 | 1.25 |
| P/FCF | — | — | 5.89 | 2.90 | 1.90 | — | 0.55 | 2.07 | 3.99 | 13.70 | 2.96 |
| P/OCF | — | — | 5.31 | 2.66 | 1.81 | — | 0.55 | 1.99 | 3.89 | 14.82 | 2.91 |
P/E links to full P/E history page with 30-year chart
CM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Canadian Imperial Bank of Commerce's enterprise value stands at 37.3x EBITDA, 31% above its 5-year average of 28.5x. The Financial Services sector median is 11.1x, placing the stock at a 235% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.10 | 5.02 | 4.52 | 7.43 | 9.52 | 7.16 | 7.45 | 7.80 | 9.18 | 8.76 |
| EV / EBITDA | 37.27 | 31.20 | 31.11 | 30.90 | 25.77 | 23.70 | 29.02 | 29.17 | 26.63 | 29.30 | 29.05 |
| EV / EBIT | 41.28 | 34.56 | 35.08 | 35.96 | 29.15 | 26.60 | 36.80 | 32.95 | 29.24 | 32.00 | 31.73 |
| EV / FCF | — | — | 32.16 | 22.51 | 10.76 | — | 3.00 | 11.61 | 20.40 | 70.78 | 15.84 |
CM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Canadian Imperial Bank of Commerce earns an operating margin of 17.6%, below the Financial Services sector average of 20.0%. Operating margins have expanded from 12.6% to 17.6% over the past 3 years, signaling improving operational efficiency. ROE of 13.7% is modest. ROIC of 2.1% represents below-average returns on invested capital versus a sector median of 5.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.0% | 43.0% | 36.7% | 38.4% | 66.5% | 85.2% | 64.3% | 60.0% | 67.1% | 73.4% | 73.7% |
| Operating Margin | 17.6% | 17.6% | 14.3% | 12.6% | 25.5% | 35.8% | 19.5% | 22.6% | 26.7% | 28.7% | 27.6% |
| Net Profit Margin | 13.6% | 13.6% | 11.1% | 9.0% | 19.9% | 27.7% | 15.1% | 17.8% | 21.0% | 22.9% | 23.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.7% | 13.7% | 12.7% | 9.7% | 12.9% | 14.8% | 9.5% | 13.8% | 15.9% | 17.1% | 18.9% |
| ROA | 0.8% | 0.8% | 0.7% | 0.5% | 0.7% | 0.8% | 0.5% | 0.8% | 0.9% | 0.9% | 0.9% |
| ROIC | 2.1% | 2.1% | 1.9% | 1.6% | 2.0% | 2.3% | 1.5% | 2.2% | 2.4% | 2.4% | 2.3% |
| ROCE | 4.3% | 4.3% | 3.8% | 2.9% | 3.7% | 4.6% | 2.9% | 4.1% | 4.6% | 4.2% | 3.7% |
CM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Canadian Imperial Bank of Commerce carries a Debt/EBITDA ratio of 29.4x, which is highly leveraged (602% above the sector average of 4.2x). Net debt stands at $300.1B ($355.8B total debt minus $55.7B cash). Interest coverage of just 0.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 5.52 | 5.52 | 5.40 | 5.30 | 5.25 | 5.15 | 5.28 | 5.13 | 5.08 | 5.36 | 6.11 |
| Debt / EBITDA | 29.37 | 29.37 | 30.83 | 34.70 | 29.34 | 25.28 | 35.21 | 27.10 | 24.23 | 26.06 | 26.41 |
| Net Debt / Equity | — | 4.66 | 4.45 | 4.11 | 3.80 | 3.64 | 3.55 | 4.54 | 4.49 | 4.86 | 5.47 |
| Net Debt / EBITDA | 24.76 | 24.76 | 25.41 | 26.92 | 21.21 | 17.86 | 23.65 | 23.98 | 21.42 | 23.63 | 23.63 |
| Debt / FCF | — | — | 26.26 | 19.61 | 8.85 | — | 2.45 | 9.54 | 16.41 | 57.08 | 12.89 |
| Interest Coverage | 0.33 | 0.33 | 0.24 | 0.22 | 0.84 | 2.54 | 0.75 | 0.64 | 0.90 | 1.27 | 1.35 |
CM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.13x is below 1.0, meaning current liabilities exceed current assets — though the company's $55.7B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 0.19x to 0.13x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.13 | 0.13 | 0.14 | 0.19 | 0.21 | 0.21 | 0.23 | 0.17 | 0.15 | 0.15 | 0.17 |
| Quick Ratio | 0.13 | 0.13 | 0.14 | 0.19 | 0.21 | 0.21 | 0.23 | 0.17 | 0.15 | 0.15 | 0.17 |
| Cash Ratio | 0.07 | 0.07 | 0.07 | 0.09 | 0.10 | 0.11 | 0.12 | 0.05 | 0.05 | 0.04 | 0.04 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Canadian Imperial Bank of Commerce returns 4.6% to shareholders annually — split between a 2.6% dividend yield and 2.0% buyback yield. A payout ratio of 47.4% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 5.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.6% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 47.4% | 47.4% | 41.4% | 45.2% | 47.8% | 41.2% | 67.8% | 47.2% | 40.0% | 30.3% | 41.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 10.3% | 11.6% | 14.7% | 14.7% | 11.5% | 11.0% | 13.1% | 13.5% | 12.8% | 14.3% |
| FCF Yield | — | — | 17.0% | 34.5% | 52.5% | — | 180.2% | 48.3% | 25.0% | 7.3% | 33.8% |
| Buyback Yield | 2.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 4.6% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $941M | $942M | $916M | $906M | $900M | $892M | $891M | $889M | $827M | $792M |
Peer Comparison
Compare CM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CMYou | $106B | 19.1 | 37.3 | — | 43.0% | 17.6% | 13.7% | 2.1% | 29.4 |
 TD | $202B | 14.7 | 31.9 | — | 49.0% | 20.7% | 16.9% | 2.3% | 25.4 |
 RY | $283B | 20.5 | 40.1 | 7.6 | 45.3% | 18.7% | 15.3% | 2.0% | 29.1 |
 BMO | $121B | 21.6 | 37.7 | 20.3 | 41.6% | 14.8% | 10.1% | 1.8% | 30.2 |
 BNS | $106B | 21.6 | 48.6 | 29.8 | 44.3% | 14.4% | 9.0% | 1.6% | 41.6 |
 MFC | $67B | 18.6 | 18.2 | 3.0 | 25.5% | 13.4% | 11.0% | 11.4% | 2.8 |
 USB | $93B | 13.0 | 12.1 | 11.7 | 62.8% | 22.2% | 12.2% | 5.2% | 7.6 |
 PNC | $96B | 14.4 | 13.2 | 21.9 | 71.7% | 27.1% | 12.1% | 5.4% | 6.7 |
 TFC | $62B | 13.0 | 13.5 | 10.8 | 62.2% | 20.9% | 8.2% | 3.6% | 9.9 |
 CFG | $29B | 17.9 | 10.3 | 14.3 | 69.8% | 20.9% | 7.2% | 4.7% | 4.2 |
 FITB | $50B | 15.4 | 16.8 | 13.0 | 65.3% | 24.9% | 12.2% | 6.4% | 4.0 |
| Financial Services Median | — | 13.9 | 11.1 | 11.2 | 64.0% | 20.0% | 8.9% | 5.3% | 4.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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CM — Frequently Asked Questions
Quick answers to the most common questions about buying CM stock.
What is Canadian Imperial Bank of Commerce's P/E ratio?
Canadian Imperial Bank of Commerce's current P/E ratio is 19.1x. The historical average is 9.9x. This places it at the 96th percentile of its historical range.
What is Canadian Imperial Bank of Commerce's EV/EBITDA?
Canadian Imperial Bank of Commerce's current EV/EBITDA is 37.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.6x.
What is Canadian Imperial Bank of Commerce's ROE?
Canadian Imperial Bank of Commerce's return on equity (ROE) is 13.7%. The historical average is 13.6%.
Is CM stock overvalued?
Based on historical data, Canadian Imperial Bank of Commerce is trading at a P/E of 19.1x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Canadian Imperial Bank of Commerce's dividend yield?
Canadian Imperial Bank of Commerce's current dividend yield is 2.60% with a payout ratio of 47.4%.
What are Canadian Imperial Bank of Commerce's profit margins?
Canadian Imperial Bank of Commerce has 43.0% gross margin and 17.6% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Canadian Imperial Bank of Commerce have?
Canadian Imperial Bank of Commerce's Debt/EBITDA ratio is 29.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.