OTCPK:CRZB.Y

Stock Analysis Report

Executive Summary

Commerzbank Aktiengesellschaft provides banking and capital market services to private and small business customers, corporate clients, multinationals, financial service providers, and institutional clients worldwide.

Snowflake

Fundamentals

Excellent balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Commerzbank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

5.3%

CRZB.Y

1.4%

US Banks

1.0%

US Market


1 Year Return

-43.4%

CRZB.Y

0.2%

US Banks

6.7%

US Market

Return vs Industry: CRZB.Y underperformed the US Banks industry which returned 0.2% over the past year.

Return vs Market: CRZB.Y underperformed the US Market which returned 6.7% over the past year.


Share holder returns

CRZB.YIndustryMarket
7 Day5.3%1.4%1.0%
30 Day-14.3%-2.6%-1.8%
90 Day-23.2%0.8%-1.8%
1 Year-42.3%-43.4%3.1%0.2%9.1%6.7%
3 Year-6.9%-8.6%52.0%41.5%46.1%36.6%
5 Year-56.9%-58.7%69.7%51.2%66.9%48.6%

Price Volatility Vs. Market

How volatile is Commerzbank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Commerzbank undervalued based on future cash flows and its price relative to the stock market?

8.75x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: CRZB.Y ($5.74) is trading above our estimate of fair value ($0.84)

Significantly Undervalued: CRZB.Y is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: CRZB.Y is good value based on its PE Ratio (8.7x) compared to the Banks industry average (12.5x).

PE vs Market: CRZB.Y is good value based on its PE Ratio (8.7x) compared to the US market (17.5x).


Price Based on Expected Growth

Low PEG Ratio: CRZB.Y is poor value based on its PEG Ratio (1.2x)


Price Based on Value of Assets

PB vs Industry: CRZB.Y is good value based on its PB Ratio (0.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Commerzbank expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

7.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: CRZB.Y's forecast earnings growth (7.2% per year) is above the savings rate (2.7%).

Earnings vs Market: CRZB.Y's earnings (7.2% per year) are forecast to grow slower than the US market (14.5% per year).

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

Revenue vs Market: CRZB.Y's revenue is expected to decline over the next 3 years (-0.05% per year).

High Growth Revenue: CRZB.Y's revenue is forecast to decline over the next 3 years (-0.05%).


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: CRZB.Y's Return on Equity is forecast to be low in 3 years time (3.2%).


Next Steps

Past Performance

How has Commerzbank performed over the past 5 years?

1.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CRZB.Y's earnings have grown by 1.8% per year over the past 5 years.

Accelerating Growth: CRZB.Y's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CRZB.Y had negative earnings growth (-22.2%) over the past year, making it difficult to compare to the Banks industry average (31.8%).


Return on Equity

High ROE: CRZB.Y's Return on Equity (2.8%) is considered low.


Return on Assets

ROA vs Industry: CRZB.Y's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate CRZB.Y's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Commerzbank'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

Inventory Level: CRZB.Y has a low level of unsold assets or inventory.

Debt Coverage by Assets: CRZB.Y's debt is covered by short term assets (assets are 1.849160x debt).


Financial Institutions Analysis

Asset Level: CRZB.Y's level of assets compared to its equity is moderate.

Allowance for Bad Loans: CRZB.Y has a low allowance for bad loans.

Low Risk Liabilities: CRZB.Y's liabilities are made up of primarily low risk sources of funding.

Loan Level: CRZB.Y has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CRZB.Y's loans are broadly funded by customer deposits.

Level of Bad Loans: CRZB.Y has an appropriate level of bad loans (1.4%)


Next Steps

Dividend

What is Commerzbank's current dividend yield, its reliability and sustainability?

4.68%

Expected Dividend Yield


Dividend Yield vs Market

company3.8%marketbottom25%1.5%markettop25%3.8%industryaverage2.5%forecastin3Years4.7%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: CRZB.Y's dividend (3.85%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: CRZB.Y's dividend (3.85%) is in the top 25% of dividend payers in the US market (3.77%)

Stable Dividend: CRZB.Y has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: CRZB.Y has only been paying a dividend for 4 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.7%), CRZB.Y's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CRZB.Y's dividends in 3 years are forecast to be well covered by earnings (35.3% payout ratio).


Next Steps

Management

What is the CEO of Commerzbank's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average management tenure


CEO

Martin Zielke (56yo)

3.4yrs

Tenure

€3,107,000

Compensation

Mr. Martin Zielke has been the Chief Executive Officer of Commerzbank AG since May 1, 2016 and has been its Chairman of Board of Managing Directors since May 1, 2016. Mr. Zielke has been the Head of Group  ...


CEO Compensation Analysis

Compensation vs. Market: Martin's total compensation ($USD3.43M) is about average for companies of similar size in the US market ($USD6.81M).

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


Management Age and Tenure

3.4yrs

Average Tenure

54.5yo

Average Age

Experienced Management: CRZB.Y's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

4.5yrs

Average Tenure

61.5yo

Average Age

Experienced Board: CRZB.Y's board of directors are considered experienced (4.5 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Martin Zielke (56yo)

    Chairman of Board of Managing Directors & CEO

    • Tenure: 3.4yrs
    • Compensation: €3.11m
  • Ralph Mandel (53yo)

    Member of the Board of Managing Directors

    • Tenure: 3.4yrs
    • Compensation: €1.55m
  • Michael Reuther (60yo)

    Member of the Board of Managing Directors

    • Tenure: 13yrs
    • Compensation: €1.63m
  • Stephan Engels (57yo)

    CFO & Member of the Board of Managing Directors

    • Tenure: 7.5yrs
    • Compensation: €1.52m
  • Toufic Yafoui

    Head of Fixed Income Sales - Middle East

    • Tenure: 0yrs
  • Roland Boekhout (56yo)

    Member of the Board of Managing Director

    • Tenure: 0yrs
  • Marcus Chromik (47yo)

    Chief Risk Officer & Member of the Board of Managing Directors

    • Tenure: 3.8yrs
    • Compensation: €1.48m
  • Jörg Hessenmüller (49yo)

    COO & Member of the Board of Managing Directors

    • Tenure: 0.8yrs
  • Bettina Orlopp (49yo)

    Head of HR

    • Tenure: 1.9yrs
    • Compensation: €1.73m
  • Christoph Wortig

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Klaus-Peter Müller (75yo)

    Honorary Chairman of Supervisory Board

    • Tenure: 1.4yrs
    • Compensation: €379.50k
  • Wendelin Wiedeking (67yo)

    Member of Central Advisory Board

    • Tenure: 0yrs
  • Uwe Tschäge (52yo)

    Supervisory Board Deputy Chairman - Elected by Employees

    • Tenure: 16.4yrs
    • Compensation: €242.50k
  • Nicholas Teller (60yo)

    Supervisory Board Member

    • Tenure: 5.4yrs
    • Compensation: €185.50k
  • Tobias Guldimann (58yo)

    Supervisory Board Member

    • Tenure: 2.4yrs
    • Compensation: €175.90k
  • Ernst Friedrich Schröder

    Member of Central Advisory Board

    • Tenure: 0yrs
  • Friedrich Lürßen

    Member of Central Advisory Board

    • Tenure: 0yrs
    • Compensation: €28.60k
  • Gertrude Tumpel-Gugerell (67yo)

    Supervisory Board Member

    • Tenure: 7.3yrs
    • Compensation: €161.40k
  • Stefan Josef Peter Schmittmann (63yo)

    Supervisory Board Chairman

    • Tenure: 1.4yrs
    • Compensation: €248.00k
  • Sabine Dietrich (59yo)

    Supervisory Board Member

    • Tenure: 4.5yrs
    • Compensation: €140.90k

Company Information

Commerzbank AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Commerzbank AG
  • Ticker: CRZB.Y
  • Exchange: OTCPK
  • Founded: 1870
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €6.507b
  • Listing Market Cap: €7.190b
  • Shares outstanding: 1.25b
  • Website: https://www.commerzbank.com

Number of Employees


Location

  • Commerzbank AG
  • Kaiserplatz
  • Frankfurt am Main
  • Hessen
  • 60261
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CB00P7BST (Boerse-Stuttgart)21.5% RVCV 08/04/2009 EUR1000(WACKE)DEEURNo data
CB00PVBST (Boerse-Stuttgart)16.5% RVCV 08/04/2009 EUR1000(PRAKT)DEEURNo data
CB00PWBST (Boerse-Stuttgart)22.5% RVCV 08/04/2009 EUR1000(PREMI)DEEURNo data
CB00PXBST (Boerse-Stuttgart)24% RVCV 08/04/2009 EUR1000(PROSI)DEEURNo data
CB00PUBST (Boerse-Stuttgart)21% RVCV 08/04/2009 EUR1000(PFLEI)DEEURNo data
CB00PZBST (Boerse-Stuttgart)13.5% RVCV 08/04/2009 EUR1000(RHOEN)DEEURNo data
CB00P5BST (Boerse-Stuttgart)18% RVCV 08/04/2009 EUR1000(TOGNU)DEEURNo data
CB00P6BST (Boerse-Stuttgart)16% RVCV 08/04/2009 EUR1000(VOSSL)DEEURNo data
CB59J8BST (Boerse-Stuttgart)13% RVCV 15/01/2009 EUR1000 (BASKET)DEEURNo data
CB00P8BST (Boerse-Stuttgart)17% RVCV 08/04/2009 EUR1000(WINCO)DEEURNo data
CB00PTBST (Boerse-Stuttgart)17% RVCV 08/04/2009 EUR1000(MTU A)DEEURNo data
CB00PABST (Boerse-Stuttgart)15% RVCV 08/04/2009 EUR1000(FRESE)DEEURNo data
CB00DUBST (Boerse-Stuttgart)17.5% RVCV 08/04/2009 EUR1000(CELES)DEEURNo data
CB00PBBST (Boerse-Stuttgart)18% RVCV 08/04/2009 EUR1000(GAGFA)DEEURNo data
CB00DTBST (Boerse-Stuttgart)19% RVCV 08/04/2009 EUR1000(BILFI)DEEURNo data
CB00PCBST (Boerse-Stuttgart)20.5% RVCV 08/04/2009 EUR1000(GEA G)DEEURNo data
CB00DSBST (Boerse-Stuttgart)12.5% RVCV 08/04/2009 EUR1000(BEIER)DEEURNo data
CB00PDBST (Boerse-Stuttgart)25.5% RVCV 08/04/2009 EUR1000(GILDE)DEEURNo data
CB00DRBST (Boerse-Stuttgart)28% RVCV 08/04/2009 EUR1000(ARQUE)DEEURNo data
CB00PEBST (Boerse-Stuttgart)16.5% RVCV 08/04/2009 EUR1000(HAMBU)DEEURNo data
CB00DQBST (Boerse-Stuttgart)21% RVCV 08/04/2009 EUR1000(ARCAN)DEEURNo data
CB00PFBST (Boerse-Stuttgart)17% RVCV 08/04/2009 EUR1000(HANNO)DEEURNo data
CB00DPBST (Boerse-Stuttgart)9.5% RVCV 08/04/2009 EUR1000(AMB G)DEEURNo data
CB00PGBST (Boerse-Stuttgart)23.5% RVCV 08/04/2009 EUR1000(HEIDE)DEEURNo data
CB00DNBST (Boerse-Stuttgart)15.5% RVCV 08/04/2009 EUR1000(ALTAN)DEEURNo data
CB00PHBST (Boerse-Stuttgart)11% RVCV 08/04/2009 EUR1000(HEIDE)DEEURNo data
CB00DMBST (Boerse-Stuttgart)17.5% RVCV 08/04/2009 EUR1000(AAREA)DEEURNo data
CB00PJBST (Boerse-Stuttgart)20.5% RVCV 08/04/2009 EUR1000(HOCHT)DEEURNo data
CB00P4BST (Boerse-Stuttgart)16% RVCV 08/04/2009 EUR1000(SYMRI)DEEURNo data
CB00PKBST (Boerse-Stuttgart)21% RVCV 08/04/2009 EUR1000(HUGO)DEEURNo data
CB00P3BST (Boerse-Stuttgart)13% RVCV 08/04/2009 EUR1000(SUEDZ)DEEURNo data
CB00PLBST (Boerse-Stuttgart)19% RVCV 08/04/2009 EUR1000(IVG)DEEURNo data
CB00P2BST (Boerse-Stuttgart)15.5% RVCV 08/04/2009 EUR1000(STADA)DEEURNo data
CB00PMBST (Boerse-Stuttgart)21% RVCV 08/04/2009 EUR1000(K+S)DEEURNo data
CB00P1BST (Boerse-Stuttgart)20% RVCV 08/04/2009 EUR1000(SGL C)DEEURNo data
CB00PNBST (Boerse-Stuttgart)22.5% RVCV 08/04/2009 EUR1000(KLOEC)DEEURNo data
CB00P0BST (Boerse-Stuttgart)21.5% RVCV 08/04/2009 EUR1000(SALZG)DEEURNo data
CB00PPBST (Boerse-Stuttgart)14.5% RVCV 08/04/2009 EUR1000(KRONE)DEEURNo data
CB00DZBST (Boerse-Stuttgart)18.5% RVCV 08/04/2009 EUR1000(FRAPO)DEEURNo data
CB00PQBST (Boerse-Stuttgart)17% RVCV 08/04/2009 EUR1000(KUKA)DEEURNo data
CB00DYBST (Boerse-Stuttgart)12% RVCV 08/04/2009 EUR1000(DEUTS)DEEURNo data
CB00PRBST (Boerse-Stuttgart)17% RVCV 08/04/2009 EUR1000(LANXE)DEEURNo data
CB00DXBST (Boerse-Stuttgart)9% RVCV 08/04/2009 EUR1000(DOUGL)DEEURNo data
CB00PSBST (Boerse-Stuttgart)16.5% RVCV 08/04/2009 EUR1000(LEONI)DEEURNo data
CB00DWBST (Boerse-Stuttgart)19.5% RVCV 08/04/2009 EUR1000(DEUTZ)DEEURNo data
CB00Z9BST (Boerse-Stuttgart)14% RVCV 15/01/2009 EUR1000 (ADID/TUI)DEEURNo data
CB00DVBST (Boerse-Stuttgart)19% RVCV 08/04/2009 EUR1000(DEMAG)DEEURNo data
CB59J5BST (Boerse-Stuttgart)11% RVCV 15/01/2009 EUR1000 (BASKET)DEEURNo data
CB59J9BST (Boerse-Stuttgart)11% RVCV 15/01/2009 EUR1000 (BASKET)DEEURNo data
CB59J7BST (Boerse-Stuttgart)12.5% RVCV 15/01/2009 EUR1000 (BASKET)DEEURNo data
CB00PYBST (Boerse-Stuttgart)18.5% RVCV 08/04/2009 EUR1000(RHEIN)DEEURNo data
ZZMRDB (Deutsche Boerse AG)ADR EACH CNV INTO 1 ORD NPV(SPON)DEEURJan 1975
CRZB.YOTCPK (Pink Sheets LLC)ADR EACH CNV INTO 1 ORD NPV(SPON)USUSDJan 1975
ZZMSBST (Boerse-Stuttgart)ADR EACH CNV INTO 1 ORD NPV(SPON)DEEURJan 1975
0RLWLSE (London Stock Exchange)YesOrdinary SharesGBEURMay 1979
CRZB.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 1979
CBKDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 1979
CBKWBAG (Wiener Boerse AG)YesOrdinary SharesATEURMay 1979
CBKDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMay 1979
CBKXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURMay 1979
COMMERZBANKBUSE (Budapest Stock Exchange)YesOrdinary SharesHUHUFMay 1979
CBKSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFMay 1979
CBKBIT (Borsa Italiana)YesOrdinary SharesITEURMay 1979
DSF4DB (Deutsche Boerse AG)GENUSSSCHEINE 2005-31/12/2020 EUR50000DEEURJan 2007
CB94FLBST (Boerse-Stuttgart)4.5% NTS 19/10/2020 EUR1000DEEURNov 2017

Biography

Commerzbank Aktiengesellschaft provides banking and capital market services to private and small business customers, corporate clients, multinationals, financial service providers, and institutional client ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 01:29
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.

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