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CM

Canadian Imperial Bank of CommerceTSX:CM Stock Report

Last Price

CA$166.08

Market Cap

CA$74.9b

7D

5.7%

1Y

46.0%

Updated

18 Jan, 2022

Data

Company Financials +
CM fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends5/6

CM Stock Overview

Canadian 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.

Canadian Imperial Bank of Commerce Competitors

Royal Bank of Canada

TSX:RY

CA$212.5b

Toronto-Dominion Bank

TSX:TD

CA$189.8b

Bank of Nova Scotia

TSX:BNS

CA$112.7b

Bank of Montreal

TSX:BMO

CA$97.1b

Price History & Performance

Summary of all time highs, changes and price drops for Canadian Imperial Bank of Commerce
Historical stock prices
Current Share PriceCA$166.08
52 Week HighCA$166.54
52 Week LowCA$108.50
Beta1.03
1 Month Change14.54%
3 Month Change12.24%
1 Year Change45.97%
3 Year Change51.31%
5 Year Change49.41%
Change since IPO925.98%

Recent News & Updates

Dec 31
Here's Why I Think Canadian Imperial Bank of Commerce (TSE:CM) Might Deserve Your Attention Today

Here's Why I Think Canadian Imperial Bank of Commerce (TSE:CM) Might Deserve Your Attention Today

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Dec 05
Canadian Imperial Bank of Commerce (TSE:CM) Is Paying Out A Larger Dividend Than Last Year

Canadian Imperial Bank of Commerce (TSE:CM) Is Paying Out A Larger Dividend Than Last Year

Canadian Imperial Bank of Commerce ( TSE:CM ) has announced that it will be increasing its dividend on the 28th of...

Shareholder Returns

CMCA BanksCA Market
7D5.7%4.4%2.4%
1Y46.0%39.2%19.9%

Return vs Industry: CM exceeded the Canadian Banks industry which returned 37.6% over the past year.

Return vs Market: CM exceeded the Canadian Market which returned 19.1% over the past year.

Price Volatility

Is CM's price volatile compared to industry and market?
CM volatility
CM Average Weekly Movement2.1%
Banks Industry Average Movement2.5%
Market Average Movement9.7%
10% most volatile stocks in CA Market17.6%
10% least volatile stocks in CA Market3.7%

Stable Share Price: CM is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: CM's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
186745,282Victor Dodighttps://www.cibc.com

Canadian 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.

Canadian Imperial Bank of Commerce Fundamentals Summary

How do Canadian Imperial Bank of Commerce's earnings and revenue compare to its market cap?
CM fundamental statistics
Market CapCA$74.90b
Earnings (TTM)CA$6.27b
Revenue (TTM)CA$19.86b

11.9x

P/E Ratio

1.7x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CM income statement (TTM)
RevenueCA$19.86b
Cost of RevenueCA$0
Gross ProfitCA$19.86b
ExpensesCA$13.59b
EarningsCA$6.27b

Last Reported Earnings

Oct 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)13.91
Gross Margin100.00%
Net Profit Margin31.58%
Debt/Equity Ratio387.7%

How did CM perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

42%

Payout Ratio

Valuation

Is Canadian Imperial Bank of Commerce undervalued compared to its fair value and its price relative to the market?

32.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CM (CA$166.08) is trading below our estimate of fair value (CA$246.56)

Significantly Below Fair Value: CM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CM is good value based on its PE Ratio (11.9x) compared to the Canadian Banks industry average (12.8x).

PE vs Market: CM is good value based on its PE Ratio (11.9x) compared to the Canadian market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: CM is poor value based on its PEG Ratio (3.5x)


Price to Book Ratio

PB vs Industry: CM's PB Ratio (1.7x) is in line with the CA Banks industry average.


Future Growth

How is Canadian Imperial Bank of Commerce forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

3.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CM's forecast earnings growth (3.4% per year) is above the savings rate (1.6%).

Earnings vs Market: CM's earnings (3.4% per year) are forecast to grow slower than the Canadian market (11% per year).

High Growth Earnings: CM's earnings are forecast to grow, but not significantly.

Revenue vs Market: CM's revenue (4.9% per year) is forecast to grow slower than the Canadian market (5.5% per year).

High Growth Revenue: CM's revenue (4.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CM's Return on Equity is forecast to be low in 3 years time (13.2%).


Past Performance

How has Canadian Imperial Bank of Commerce performed over the past 5 years?

2.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CM has high quality earnings.

Growing Profit Margin: CM's current net profit margins (31.6%) are higher than last year (22.6%).


Past Earnings Growth Analysis

Earnings Trend: CM's earnings have grown by 2.2% per year over the past 5 years.

Accelerating Growth: CM's earnings growth over the past year (71%) exceeds its 5-year average (2.2% per year).

Earnings vs Industry: CM earnings growth over the past year (71%) exceeded the Banks industry 41.4%.


Return on Equity

High ROE: CM's Return on Equity (14.1%) is considered low.


Financial Health

How is Canadian Imperial Bank of Commerce's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CM's Assets to Equity ratio (18.3x) is moderate.

Allowance for Bad Loans: CM has a sufficient allowance for bad loans (155%).

Low Risk Liabilities: 73% of CM's liabilities are made up of primarily low risk sources of funding.

Loan Level: CM has an appropriate level of Loans to Assets ratio (54%).

Low Risk Deposits: CM's Loans to Deposits ratio (78%) is appropriate.

Level of Bad Loans: CM has an appropriate level of bad loans (0.4%).


Dividend

What is Canadian Imperial Bank of Commerce current dividend yield, its reliability and sustainability?

3.88%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CM's dividend (3.88%) is higher than the bottom 25% of dividend payers in the Canadian market (1.59%).

High Dividend: CM's dividend (3.88%) is low compared to the top 25% of dividend payers in the Canadian market (4.6%).


Stability and Growth of Payments

Stable Dividend: CM's dividends per share have been stable in the past 10 years.

Growing Dividend: CM's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.8%), CM's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CM's dividends in 3 years are forecast to be well covered by earnings (43.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.0yrs

Average management tenure


CEO

Victor Dodig (55 yo)

7.33yrs

Tenure

CA$9,678,250

Compensation

Mr. Victor G. Dodig has been the Chief Executive Officer and President at Canadian Imperial Bank of Commerce since September 15, 2014. Mr. Dodig is employed at CIBC Asset Management Inc. He has extensive b...


CEO Compensation Analysis

Compensation vs Market: Victor's total compensation ($USD7.73M) is above average for companies of similar size in the Canadian market ($USD5.90M).

Compensation vs Earnings: Victor's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CM's management team is considered experienced (4 years average tenure).


Board Members

Experienced Board: CM's board of directors are considered experienced (8.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Canadian Imperial Bank of Commerce's employee growth, exchange listings and data sources


Key Information

  • Name: Canadian Imperial Bank of Commerce
  • Ticker: CM
  • Exchange: TSX
  • Founded: 1867
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: CA$74.895b
  • Shares outstanding: 450.96m
  • Website: https://www.cibc.com

Number of Employees


Location

  • Canadian Imperial Bank of Commerce
  • 81 Bay Street
  • CIBC Square
  • Toronto
  • Ontario
  • M5J 0E7
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/18 01:07
End of Day Share Price2022/01/17 00:00
Earnings2021/10/31
Annual Earnings2021/10/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.