Commerzbank AG

BATS-CHIXE:CBKD Stock Report

Market Cap: €19.3b

Commerzbank Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: CBKD (€15.89) is trading below our estimate of fair value (€40.23)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CBKD. This is calculated by dividing CBKD's market cap by their current earnings.
What is CBKD's PE Ratio?
PE Ratio9.1x
Earnings€2.13b
Market Cap€19.31b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CBKD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.7x
STAN Standard Chartered
7.2x5.1%UK£22.9b
NWG NatWest Group
7.1x0.3%UK£31.8b
LLOY Lloyds Banking Group
7.7x4.2%UK£34.0b
BARC Barclays
8.9x10.7%UK£37.7b
CBKD Commerzbank
9.1x8.8%€19.3b

Price-To-Earnings vs Peers: CBKD is expensive based on its Price-To-Earnings Ratio (9.1x) compared to the peer average (7.7x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CBKD is expensive based on its Price-To-Earnings Ratio (9.1x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is CBKD'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.

CBKD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.1x
Fair PE Ratio6.6x

Price-To-Earnings vs Fair Ratio: CBKD is expensive based on its Price-To-Earnings Ratio (9.1x) compared to the estimated Fair Price-To-Earnings Ratio (6.6x).

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 CBKD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€15.89
€18.55
+16.7%
8.2%€22.00€15.80n/a12
Nov ’25€16.40
€18.33
+11.8%
9.1%€22.00€15.80n/a12
Oct ’25€16.23
€16.25
+0.1%
22.4%€21.00€5.50n/a16
Sep ’25€13.33
€15.49
+16.2%
22.2%€21.00€5.50n/a17
Aug ’25€15.12
€16.15
+6.9%
21.6%€21.00€5.50n/a17
Jul ’25€14.16
€15.95
+12.6%
23.0%€21.00€5.50n/a17
Jun ’25€15.37
€15.71
+2.2%
22.3%€20.00€5.50n/a17
May ’25€14.00
€14.65
+4.7%
20.9%€18.00€5.50n/a17
Apr ’25n/a
€14.26
0%
20.6%€17.60€5.50n/a17
Mar ’25n/a
€14.21
0%
19.8%€17.40€5.50n/a18
Feb ’25€10.55
€14.17
+34.3%
19.6%€17.00€5.50n/a18
Jan ’25€10.76
€14.05
+30.6%
19.6%€17.00€5.50n/a18
Dec ’24€11.22
€14.04
+25.2%
19.3%€17.00€5.50n/a18
Nov ’24€10.34
€13.72
+32.7%
19.3%€17.00€5.50€16.4018
Oct ’24€10.74
€13.52
+25.9%
19.2%€17.00€5.50€16.2318
Sep ’24n/a
€13.51
0%
19.4%€17.00€5.50€13.3318
Aug ’24€10.82
€13.26
+22.5%
19.9%€17.00€5.50€15.1218
Jul ’24€10.17
€12.92
+27.1%
19.4%€16.30€5.50€14.1618
Jun ’24€9.46
€12.88
+36.2%
19.5%€16.30€5.50€15.3718
May ’24€10.04
€12.64
+25.9%
19.9%€16.00€5.50€14.0018
Apr ’24€9.74
€12.43
+27.6%
19.0%€15.60€5.50n/a18
Mar ’24€11.57
€12.04
+4.0%
20.2%€15.60€5.50n/a18
Feb ’24€10.50
€10.62
+1.1%
18.7%€13.90€5.50€10.5518
Jan ’24€8.91
€10.14
+13.8%
13.1%€13.00€8.20€10.7617
Dec ’23€7.85
€9.94
+26.7%
14.5%€13.00€7.50€11.2217
Nov ’23€8.22
€9.47
+15.2%
16.9%€13.00€7.00€10.3417

Analyst Forecast: Target price is less than 20% higher than the current share price.

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