Comerica Incorporated (CMA) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
16.08
↑+76% vs avg
5yr avg: 9.12
30Y Low5.2·High43.0
P/FCF
↓
N/A
—
5yr avg: 15.60
30Y Low4.2·High30.8
P/B Ratio
↓
1.53
+7% vs avg
5yr avg: 1.43
30Y Low0.4·High3.5
ROE
↓
10.1%
↑-26% vs avg
5yr avg: 13.7%
30Y Low0%·High23%
Debt/EBITDA
↑
5.48
+6% vs avg
5yr avg: 5.19
30Y Low1.8·High43.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CMA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Comerica Incorporated trades at 16.8x earnings, 50% above its 5-year average of 11.2x, sitting at the 83rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a premium of 25%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.3B | $11.6B | $8.3B | $7.4B | $8.9B | $11.9B | $7.8B | $10.8B | $11.7B | $15.5B | $12.1B |
| Enterprise Value | $15.9B | $16.1B | $8.2B | $7.7B | $8.8B | $-7964000000 | $-2218600000 | $12.4B | $13.7B | $14.2B | $10.0B |
| P/E Ratio → | 16.76 | 16.43 | 12.32 | 8.69 | 7.92 | 10.46 | 16.24 | 9.09 | 9.51 | 20.97 | 25.32 |
| P/S Ratio | 2.37 | 2.41 | 1.66 | 1.41 | 2.38 | 3.94 | 2.53 | 2.84 | 3.27 | 4.70 | 4.07 |
| P/B Ratio | 1.53 | 1.50 | 1.27 | 1.16 | 1.72 | 1.51 | 0.97 | 1.48 | 1.56 | 1.94 | 1.55 |
| P/FCF | — | — | 18.50 | 6.76 | 15.99 | 21.13 | 9.21 | 10.79 | 7.70 | 15.21 | 30.83 |
| P/OCF | — | — | 13.79 | 5.93 | 13.94 | 18.80 | 8.43 | 9.94 | 7.27 | 14.24 | 24.81 |
P/E links to full P/E history page with 30-year chart
CMA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Comerica Incorporated's enterprise value stands at 16.1x EBITDA, 76% above its 5-year average of 9.1x. The Financial Services sector median is 11.4x, placing the stock at a 41% 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 | — | 3.36 | 1.63 | 1.46 | 2.36 | -2.63 | -0.72 | 3.24 | 3.81 | 4.33 | 3.39 |
| EV / EBITDA | 16.08 | 16.30 | 8.29 | 6.25 | 5.64 | -5.01 | -3.04 | 7.48 | 8.27 | 10.51 | 12.67 |
| EV / EBIT | 17.38 | 17.62 | 9.19 | 6.72 | 5.99 | -5.34 | -3.57 | 8.03 | 8.92 | 11.54 | 14.96 |
| EV / FCF | — | — | 18.21 | 7.01 | 15.91 | -14.12 | -2.61 | 12.31 | 8.97 | 14.01 | 25.63 |
CMA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Comerica Incorporated earns an operating margin of 19.1%, below the Financial Services sector average of 21.2%. Operating margins have compressed from 21.8% to 19.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 10.1% is modest. ROIC of 5.2% represents adequate returns on invested capital versus a sector median of 5.7%.
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 | 68.1% | 68.1% | 64.0% | 66.7% | 92.9% | 110.8% | 76.8% | 85.8% | 92.6% | 94.1% | 87.8% |
| Operating Margin | 19.1% | 19.1% | 17.8% | 21.8% | 39.5% | 49.3% | 20.1% | 40.4% | 42.7% | 37.5% | 22.6% |
| Net Profit Margin | 15.1% | 15.1% | 14.0% | 16.8% | 30.8% | 38.6% | 16.1% | 31.5% | 34.4% | 22.6% | 16.1% |
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 | 10.1% | 10.1% | 10.8% | 15.2% | 17.6% | 14.6% | 6.5% | 16.2% | 16.0% | 9.4% | 6.2% |
| ROA | 0.9% | 0.9% | 0.8% | 1.0% | 1.3% | 1.3% | 0.6% | 1.7% | 1.7% | 1.0% | 0.7% |
| ROIC | 5.2% | 5.2% | 4.5% | 6.2% | 10.0% | 9.1% | 3.3% | 8.0% | 8.7% | 7.2% | 4.3% |
| ROCE | 5.0% | 5.0% | 6.3% | 11.5% | 17.2% | 13.1% | 4.7% | 11.5% | 11.9% | 9.8% | 5.8% |
CMA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Comerica Incorporated carries a Debt/EBITDA ratio of 5.5x, which is highly leveraged (33% above the sector average of 4.1x). Net debt stands at $4.6B ($5.4B total debt minus $866M cash). Interest coverage of just 0.6x 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 | 0.70 | 0.70 | 1.02 | 1.53 | 1.20 | 0.35 | 0.71 | 1.00 | 0.87 | 0.58 | 0.67 |
| Debt / EBITDA | 5.48 | 5.48 | 6.78 | 7.94 | 3.98 | 1.76 | 7.86 | 4.44 | 3.93 | 3.42 | 6.55 |
| Net Debt / Equity | — | 0.59 | -0.02 | 0.04 | -0.01 | -2.52 | -1.25 | 0.21 | 0.26 | -0.15 | -0.26 |
| Net Debt / EBITDA | 4.61 | 4.61 | -0.13 | 0.22 | -0.03 | -12.51 | -13.77 | 0.92 | 1.18 | -0.90 | -2.57 |
| Debt / FCF | — | — | -0.29 | 0.24 | -0.08 | -35.25 | -11.82 | 1.52 | 1.28 | -1.19 | -5.20 |
| Interest Coverage | 0.64 | 0.64 | 0.51 | 0.69 | 7.17 | 26.14 | 3.41 | 3.29 | 5.75 | 10.20 | 5.98 |
CMA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.28x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.38x to 0.28x 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 | 0.28 | 0.28 | 0.23 | 0.38 | 0.34 | 0.48 | 0.42 | 0.32 | 0.30 | 0.29 | 0.37 |
| Quick Ratio | 0.28 | 0.28 | 0.23 | 0.38 | 0.34 | 0.48 | 0.42 | 0.32 | 0.30 | 0.29 | 0.37 |
| Cash Ratio | 0.01 | 0.01 | 0.11 | 0.13 | 0.08 | 0.27 | 0.21 | 0.10 | 0.08 | 0.10 | 0.12 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CMA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Comerica Incorporated does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 6.0% (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 | — | — | 4.5% | 5.0% | 4.0% | 3.1% | 4.8% | 3.7% | 2.2% | 1.2% | 1.3% |
| Payout Ratio | — | — | 54.0% | 42.1% | 30.7% | 31.6% | 75.5% | 33.4% | 21.3% | 24.2% | 31.9% |
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 | 6.0% | 6.1% | 8.1% | 11.5% | 12.6% | 9.6% | 6.2% | 11.0% | 10.5% | 4.8% | 3.9% |
| FCF Yield | — | — | 5.4% | 14.8% | 6.3% | 4.7% | 10.9% | 9.3% | 13.0% | 6.6% | 3.2% |
| Buyback Yield | 0.0% | 0.0% | 1.4% | 0.2% | 0.5% | 6.1% | 2.5% | 12.9% | 11.4% | 3.6% | 2.7% |
| Total Shareholder Yield | 0.0% | 0.0% | 5.9% | 5.2% | 4.5% | 9.2% | 7.3% | 16.6% | 13.6% | 4.8% | 3.9% |
| Shares Outstanding | — | $133M | $134M | $133M | $133M | $137M | $140M | $151M | $171M | $178M | $177M |
Peer Comparison
Compare CMA 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 |
|---|---|---|---|---|---|---|---|---|---|
 CMAYou | $11B | 16.8 | 16.1 | — | 68.1% | 19.1% | 10.1% | 5.2% | 5.5 |
 ZION | $9B | 12.9 | 9.1 | 9.0 | 61.2% | 20.3% | 13.3% | 7.3% | 3.8 |
 CFG | $28B | 21.7 | 12.4 | 15.1 | 57.6% | 15.3% | 6.2% | 3.8% | 5.2 |
 HBAN | $26B | 12.0 | 16.0 | 11.6 | 61.7% | 21.5% | 10.0% | 5.1% | 6.9 |
 RF | $24B | 12.3 | 6.6 | 11.2 | 74.6% | 28.5% | 11.7% | 8.5% | 1.7 |
 KEY | $25B | 14.6 | 14.7 | — | 62.3% | 20.6% | 9.5% | 5.4% | 4.7 |
 FHN | $12B | 13.3 | 11.8 | 19.4 | 67.3% | 25.7% | 10.8% | 7.0% | 3.4 |
 MTB | $33B | 14.9 | 6.9 | 9.8 | 64.3% | 24.7% | 9.2% | 6.0% | 3.6 |
 FITB | $34B | 16.2 | 14.7 | 14.1 | 59.2% | 22.3% | 11.9% | 5.7% | 5.6 |
 BOKF | $10B | 16.7 | 17.4 | 7.3 | 57.1% | 19.8% | 9.8% | 4.1% | 5.8 |
 WTFC | $10B | 13.3 | 11.8 | 11.3 | 62.2% | 26.4% | 12.1% | 7.5% | 3.7 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCMA — Frequently Asked Questions
Quick answers to the most common questions about buying CMA stock.
What is Comerica Incorporated's P/E ratio?
Comerica Incorporated's current P/E ratio is 16.8x. The historical average is 15.0x. This places it at the 83th percentile of its historical range.
What is Comerica Incorporated's EV/EBITDA?
Comerica Incorporated's current EV/EBITDA is 16.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.0x.
What is Comerica Incorporated's ROE?
Comerica Incorporated's return on equity (ROE) is 10.1%. The historical average is 12.3%.
Is CMA stock overvalued?
Based on historical data, Comerica Incorporated is trading at a P/E of 16.8x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Comerica Incorporated's profit margins?
Comerica Incorporated has 68.1% gross margin and 19.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Comerica Incorporated have?
Comerica Incorporated's Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.