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Commerzbank
(XETRA:CBK)
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Rating:65Neutral
Price Target:
€42.00
▲(14.19% Upside)
Action:Reiterated
Date:07/12/26
The score is driven primarily by improved profitability versus 2020 but tempered by revenue and cash-flow volatility and a higher recent leverage profile. Technicals are a secondary positive, with the stock above major moving averages and supported by positive momentum indicators. Valuation is neutral-to-slightly supportive with a moderate P/E and a modest dividend yield.
Positive Factors
Diversified universal bank model
Commerzbank’s universal-bank model—retail, corporate and markets—creates multiple durable revenue streams (interest, fees, trading services). This structural diversification reduces reliance on any single segment and supports resilience versus cyclical shocks over a 2–6 month horizon.
Negative Factors
Revenue volatility and sharp 2025 decline
A very large revenue drop in 2025 highlights volatility in the top line and raises questions about earnings durability. Persistent revenue swings make planning, provisioning and capital allocation harder and can amplify downside risk during economic stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified universal bank model
Commerzbank’s universal-bank model—retail, corporate and markets—creates multiple durable revenue streams (interest, fees, trading services). This structural diversification reduces reliance on any single segment and supports resilience versus cyclical shocks over a 2–6 month horizon.
Read all positive factors
Commerzbank (CBK) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€42.10B
Dividend Yield2.92%
Average Volume (3M)3.57M
Price to Earnings (P/E)17.7
Beta (1Y)0.96
Revenue Growth-4.17%
EPS Growth-0.03%
CountryDE
Employees40,812
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.13
Shares Outstanding1,127,496,200
10 Day Avg. Volume2,861,897
30 Day Avg. Volume3,574,636
Financial Highlights & Ratios
PEG Ratio1.29
Price to Book (P/B)1.20
Price to Sales (P/S)3.66
P/FCF Ratio0.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€40.25Price Target Upside9.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)3.09
Revenue Forecast (FY)€13.25B
Commerzbank Business Overview & Revenue Model
Company Description
Commerzbank AG provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally...
How the Company Makes Money
Commerzbank makes money primarily by earning income from interest-bearing activities and from fees and commissions tied to client services.
1) Net interest income (core earnings driver)
- Lending: The bank provides loans to retail customers (e.g....
Commerzbank Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
52
Neutral
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.66B | 11.13B | 25.25B | 21.71B | 14.26B | 12.06B |
| Gross Profit | 12.12B | 10.41B | 12.36B | 11.81B | 10.39B | 9.64B |
| EBITDA | 4.12B | 3.95B | 4.64B | 4.17B | 2.82B | 980.00M |
| Net Income | 2.70B | 2.62B | 2.68B | 2.22B | 1.44B | 430.00M |
Balance Sheet | ||||||
| Total Assets | 603.30B | 603.53B | 554.65B | 517.17B | 477.44B | 467.41B |
| Cash, Cash Equivalents and Short-Term Investments | 65.47B | 98.00B | 89.72B | 102.69B | 86.65B | 60.21B |
| Total Debt | 3.51B | 142.71B | 54.89B | 109.23B | 43.77B | 43.84B |
| Total Liabilities | 567.63B | 568.17B | 518.93B | 484.16B | 446.50B | 437.58B |
| Stockholders Equity | 34.09B | 33.83B | 34.47B | 31.99B | 30.02B | 28.85B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 50.63B | -21.46B | 19.28B | 25.18B | -25.23B |
| Operating Cash Flow | 0.00 | 51.77B | -20.32B | 20.28B | 25.86B | -24.26B |
| Investing Cash Flow | 0.00 | -59.50B | -1.31B | -920.00M | -713.00M | -804.00M |
| Financing Cash Flow | 0.00 | -3.47B | 565.00M | -1.29B | 178.00M | -1.21B |
Commerzbank Technical Analysis
Positive
36.78
Price Trends
37.37
Positive
35.21
Positive
33.99
Positive
Market Momentum
<0.01
Positive
45.55
Neutral
31.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:CBK, the sentiment is Positive. The current price of 36.78 is below the 20-day moving average (MA) of 37.72, below the 50-day MA of 37.37, and above the 200-day MA of 33.99, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.55 is Neutral, neither overbought nor oversold. The STOCH value of 31.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:CBK.
Commerzbank Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | €59.68B | 8.41 | 10.23% | 3.27% | -2.45% | 17.55% | |
65 Neutral | €42.10B | 17.69 | 8.19% | 2.99% | -4.17% | -0.03% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | €483.56M | 6.04 | 7.52% | 5.72% | 3.97% | -16.74% | |
49 Neutral | €165.59M | -89.86 | 1.16% | 1.32% | ― | ― |
* General Sector Average
DE:CBK
Commerzbank
37.67
5.26
16.23%
DE:DBK
Deutsche Bank AG
31.88
3.87
13.81%
DE:PCZ
ProCredit Holding AG
8.21
-0.37
-4.29%
DE:QB7
Quirin Privatbank AG
3.18
-0.21
-6.14%
DE:UBK
UmweltBank AG
3.90
-0.89
-18.53%
DE:MBK
MERKUR PRIVATBANK KGaA
10.90
-6.90
-38.76%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.