Commerzbank AG

SWX:CBK Stock Report

Market Cap: CHF 35.8b

Commerzbank Valuation

Is CBK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of CBK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: CBK (CHF32.45) is trading below our estimate of future cash flow value (CHF69.08)

Significantly Below Future Cash Flow Value: CBK is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CBK?

Key metric: As CBK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CBK. This is calculated by dividing CBK's market cap by their current earnings.
What is CBK's PE Ratio?
PE Ratio16x
Earnings€2.43b
Market Cap€38.86b

Price to Earnings Ratio vs Peers

How does CBK's PE Ratio compare to its peers?

The above table shows the PE ratio for CBK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
LLBN Liechtensteinische Landesbank
17.6xn/aCHF 3.0b
BCVN Banque Cantonale Vaudoise
20.8x1.33%CHF 9.0b
GRKP Graubündner Kantonalbank
25x4.52%CHF 5.1b
LUKN Luzerner Kantonalbank
16.5xn/aCHF 4.9b
CBK Commerzbank
16x14.76%CHF 38.9b

Price-To-Earnings vs Peers: CBK is good value based on its Price-To-Earnings Ratio (16x) compared to the peer average (20x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does CBK's PE Ratio compare vs other companies in the European Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CBK 16.0xIndustry Avg. 11.5xNo. of Companies35PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CBK is expensive based on its Price-To-Earnings Ratio (16x) compared to the European Banks industry average (11.3x).

Price to Earnings Ratio vs Fair Ratio

What is CBK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CBK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CBK's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CBK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 32.45
CHF 32.39
-0.17%
11.96%CHF 36.34CHF 20.89n/a14
Jan ’27CHF 32.91
CHF 31.61
-3.95%
14.16%CHF 36.86CHF 21.19n/a13
Dec ’26n/a
CHF 31.01
0%
13.52%CHF 35.94CHF 21.19n/a13
Nov ’26n/a
CHF 29.70
0%
12.89%CHF 33.42CHF 19.50n/a13
Oct ’26n/a
CHF 30.06
0%
13.37%CHF 33.76CHF 19.64n/a13
Sep ’26n/a
CHF 29.56
0%
13.17%CHF 33.76CHF 19.64n/a13
Aug ’26n/a
CHF 26.29
0%
12.26%CHF 30.76CHF 19.58n/a13
Jul ’26n/a
CHF 25.07
0%
10.98%CHF 30.09CHF 19.75n/a13
Jun ’26n/a
CHF 24.93
0%
10.76%CHF 29.89CHF 19.62n/a14
May ’26n/a
CHF 22.91
0%
10.71%CHF 28.13CHF 18.38n/a14
Apr ’26n/a
CHF 22.78
0%
11.89%CHF 28.56CHF 18.66n/a14
Mar ’26n/a
CHF 19.89
0%
10.24%CHF 23.44CHF 15.47n/a13
Feb ’26n/a
CHF 18.23
0%
8.00%CHF 20.91CHF 15.02CHF 32.4513
Jan ’26n/a
CHF 17.40
0%
9.17%CHF 20.59CHF 14.79CHF 32.9113
Dec ’25n/a
CHF 17.23
0%
8.47%CHF 20.50CHF 14.72n/a12
Nov ’25n/a
CHF 17.25
0%
9.11%CHF 20.70CHF 14.86n/a12
Oct ’25n/a
CHF 15.36
0%
22.37%CHF 19.85CHF 5.20n/a16
Sep ’25n/a
CHF 14.82
0%
22.16%CHF 20.10CHF 5.26n/a17
Aug ’25CHF 11.01
CHF 15.44
+40.20%
21.60%CHF 20.07CHF 5.26n/a17
Jul ’25CHF 11.01
CHF 15.35
+39.44%
23.00%CHF 20.21CHF 5.29n/a17
Jun ’25CHF 11.01
CHF 15.53
+41.10%
22.27%CHF 19.77CHF 5.44n/a17
May ’25CHF 11.01
CHF 14.34
+30.29%
20.89%CHF 17.62CHF 5.38n/a17
Apr ’25CHF 11.01
CHF 13.96
+26.82%
20.61%CHF 17.23CHF 5.39n/a17
Mar ’25CHF 11.01
CHF 13.55
+23.08%
19.84%CHF 16.59CHF 5.24n/a18
Feb ’25CHF 11.01
CHF 13.32
+21.00%
19.58%CHF 15.98CHF 5.17n/a18
CHF 32.23
Fair Value
0.7% overvalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/02 10:09
End of Day Share Price 2026/02/02 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Commerzbank AG is covered by 32 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tomasz GrzelakBaader Helvea Equity Research
Christian WeizBaader Helvea Equity Research
Jesús Gómez DominguezBanco Santander