Canadian Imperial Bank Of Commerce (TSE:CM)
NYSE:CM
Want to see TSE:CM full AI Analyst Report?
Top Page
Canadian Bank of Commerce
(NYSE:CM)
Select Model
Select Model
Rating:70Outperform
Price Target:
C$166.00
â–²(11.09% Upside)
Action:Upgraded
Date:05/29/26
The score is driven primarily by improving profitability and leverage trends, tempered by volatile/low-confidence cash-flow signals. Technicals are supportive but near overbought, and valuation appears reasonable with a solid dividend. The latest earnings call adds support through upbeat guidance and strong quarterly execution, partially offset by manageable but rising credit-stress indicators.
Positive Factors
Diversified revenue growth & margin expansion
Sustained, broad-based revenue growth across retail, commercial, wealth and capital markets indicates durable business diversification. Combined with margin expansion, this reduces reliance on any single cycle and supports predictable earnings generation over the next several quarters.
Negative Factors
Weak cash‑flow quality and FCF conversion
Despite large headline operating and free cash totals, the unusually weak FCF growth and poor conversion of earnings into cash raise concerns about the sustainability and visibility of cash generation. This increases uncertainty around discretionary spend, buybacks and buffer maintenance.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue growth & margin expansion
Sustained, broad-based revenue growth across retail, commercial, wealth and capital markets indicates durable business diversification. Combined with margin expansion, this reduces reliance on any single cycle and supports predictable earnings generation over the next several quarters.
Read all positive factors
Canadian Bank of Commerce (CM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$138.32B
Dividend Yield3.07%
Average Volume (3M)2.10M
Price to Earnings (P/E)14.2
Beta (1Y)0.65
Revenue Growth-3.32%
EPS Growth27.25%
CountryCA
Employees48,698
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)10.16
Shares Outstanding926,610,600
10 Day Avg. Volume2,319,019
30 Day Avg. Volume2,097,959
Financial Highlights & Ratios
PEG Ratio0.71
Price to Book (P/B)1.70
Price to Sales (P/S)1.75
P/FCF Ratio8.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$162.81Price Target Upside8.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)10.3
Revenue Forecast (FY)C$32.59B
Canadian Bank of Commerce Business Overview & Revenue Model
Company Description
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 compan...
How the Company Makes Money
CIBC primarily makes money by earning net interest income and non-interest (fee-based) income across its banking and wealth/capital-markets activities.
1) Net interest income (spread-based revenue)
- Core driver: CIBC takes deposits (e.g., chequi...
Canadian Bank of Commerce Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 27, 2026
Earnings Call Sentiment Positive
The call presented a broadly positive picture: multiple strong headline metrics (EPS, revenue, ROE, noninterest income and Capital Markets performance), positive operating leverage for the tenth consecutive quarter, solid capital and liquidity positions, and clear progress on digital and AI initiatives. Credit costs and impaired provisions rose in some commercial and consumer pockets and consumer delinquencies increased modestly, but management characterized these as within expectations, attributed impaired spikes to a small number of accounts, and expressed confidence in coverage levels and full-year guidance. Given the weight of strong financial and strategic execution metrics versus contained and well-articulated credit/seasonal headwinds, the overall tone is constructive and optimistic.Positive Updates
Strong Earnings Per Share Performance
Reported EPS of $3.21 (up 47% YoY, included income tax recoveries treated as an item of note); adjusted EPS of $2.76 (up 25% YoY).
Negative Updates
Higher Credit Provisions and Impaired Provisions
Total provision for credit losses was $568 million in Q1 (down from $605 million last quarter, ~-6% QoQ). Performing provision $48 million; impaired provisions $520 million (up $23 million QoQ). Impaired loss rate was 35 bps.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Earnings Per Share Performance
Reported EPS of $3.21 (up 47% YoY, included income tax recoveries treated as an item of note); adjusted EPS of $2.76 (up 25% YoY).
Read all positive updates
Company Guidance
Management said the year is off to a strong start and reiterated guidance for continued robust, well‑diversified growth with a stable‑to‑gradual positive bias on net interest margins and confidence in full‑year credit guidance and capital plans (including a roughly 30 bps CET1 benefit in Q2 from lower operational risk weights). Key Q1 metrics they highlighted: reported EPS $3.21 (up 47%) and adjusted EPS $2.76 (up 25%); revenues $8.4B (up 15%); adjusted net income $2.7B (up 23%); pre‑provision earnings +19%; expenses +12% delivering positive operating leverage of ~360 bps (3.6%); adjusted ROE 17.4% (up 210 bps); CET1 13.4%; returned ~78% of earnings via dividends plus 8M share buybacks; total PCL $568M (down from $605M) with allowance coverage 79 bps, performing provision $48M and impaired provision $520M (impaired loss rate 35 bps, gross impaired loan ratio 64 bps); liquidity LCR 133%; NII ex‑trading +13% with all‑bank NIM ex‑trading +17 bps YoY (+6 bps QoQ), Canadian P&C NIM 300 bps (+10 bps QoQ) and U.S. NIM 401 bps (+17 bps QoQ); non‑interest income $4.1B (up 18%); and segment highlights including Canadian P&B revenues +13% and NIM +34 bps YoY, Canadian Commercial loan and deposit volumes +7%/+8%, Wealth AUA/AUM +14%/+15%, U.S. net income +19%, and Capital Markets revenue +28% (net income +42%).Canadian Bank of Commerce Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
69
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 53.25B | 62.01B | 23.61B | 21.31B | 20.78B | 19.86B |
| Gross Profit | 28.73B | 26.67B | 23.52B | 21.29B | 20.80B | 19.80B |
| EBITDA | 13.35B | 12.12B | 10.34B | 8.05B | 8.73B | 9.01B |
| Net Income | 9.82B | 8.43B | 7.12B | 5.00B | 6.22B | 6.43B |
Balance Sheet | ||||||
| Total Assets | 1.16T | 1.12T | 1.04T | 975.72B | 943.60B | 837.68B |
| Cash, Cash Equivalents and Short-Term Investments | 16.79B | 92.81B | 93.25B | 80.52B | 92.72B | 88.15B |
| Total Debt | 181.44B | 355.82B | 208.49B | 194.50B | 187.45B | 164.17B |
| Total Liabilities | 1.09T | 1.05T | 982.98B | 922.51B | 893.22B | 791.85B |
| Stockholders Equity | 65.68B | 64.13B | 58.73B | 52.98B | 50.18B | 45.65B |
Cash Flow | ||||||
| Free Cash Flow | 14.40B | 12.73B | 10.00B | 11.14B | 21.61B | -4.17B |
| Operating Cash Flow | 15.63B | 13.84B | 11.09B | 12.15B | 22.71B | -3.33B |
| Investing Cash Flow | -5.11B | -5.78B | -20.75B | -20.76B | -24.39B | -3.51B |
| Financing Cash Flow | -7.73B | -4.31B | -2.61B | -2.16B | -1.61B | -1.95B |
Canadian Bank of Commerce Technical Analysis
Positive
149.43
Price Trends
147.45
Positive
139.06
Positive
126.80
Positive
Market Momentum
0.70
Positive
50.04
Neutral
25.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CM, the sentiment is Positive. The current price of 149.43 is below the 20-day moving average (MA) of 153.64, above the 50-day MA of 147.45, and above the 200-day MA of 126.80, indicating a neutral trend. The MACD of 0.70 indicates Positive momentum. The RSI at 50.04 is Neutral, neither overbought nor oversold. The STOCH value of 25.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CM.
Canadian Bank of Commerce Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | C$159.27B | 16.58 | 11.25% | 3.61% | -4.35% | 21.22% | |
72 Outperform | C$371.23B | 17.05 | 15.95% | 2.58% | 1.99% | 22.50% | |
71 Outperform | C$77.45B | 17.05 | 13.77% | 2.64% | 6.36% | 7.80% | |
70 Outperform | C$138.32B | 14.16 | 15.24% | 3.07% | -3.32% | 27.25% | |
68 Neutral | C$137.30B | 14.57 | 11.06% | 4.32% | -5.52% | 47.19% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | C$263.97B | 17.60 | 11.85% | 3.34% | -11.69% | -11.99% |
* Financial Sector Average
TSE:CM
Canadian Bank of Commerce
151.59
60.97
67.27%
TSE:BMO
Bank Of Montreal
229.62
86.93
60.93%
TSE:BNS
Bank Of Nova Scotia
113.11
43.34
62.12%
TSE:RY
Royal Bank Of Canada
270.94
102.56
60.91%
TSE:TD
Toronto Dominion Bank
158.03
65.81
71.36%
TSE:NA
National Bank of Canada
203.44
73.94
57.10%
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.