# Canadian Imperial Bank of Commerce (CM.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Banks. Price C$162.75, market value C$147.8 billion.

## Valuation
- **P/E (trailing): 15.6×** (5-yr avg 9.8×, 3-yr avg 11.0×). Canadian Imperial Bank of Commerce trades at 15.6× trailing earnings, well above its own five-year average of 9.8×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 14.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.81**. A PEG of 0.81 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 2.7×**. Each dollar of revenue is priced at 2.7×.
- **Price / book: 2.3×**. The shares trade at 2.3× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 8.7%** (5-yr avg 18.2%). Free cash flow equals 8.7% of the market value, below its five-year average of 18.2%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 6.4%**. The inverse of the P/E: 6.4% of the price is earned each year.

## Profitability
- **Net margin: 13.6%**. 13.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 13.1%**. 13.1% on shareholders' equity is solid.
- **Return on assets: 0.9%**. Each dollar of assets produces 0.9% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 162.7%** (3-yr 44.0%/yr, 5-yr 30.7%/yr). Revenue grew 162.7% over the last year, against 30.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 17.7%** (3-yr 8.7%/yr, 5-yr 15.8%/yr). Earnings per share rose 17.7%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -16.2%/yr**. Free cash flow has compounded at -16.2% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: C$92.8 billion**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 2.63%** (C$4.18 per share, trailing). Canadian Imperial Bank of Commerce yields 2.63%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 47%** (34% of free cash flow). 47% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 6.4%/yr** (1-yr 8.4%). The dividend has grown 6.4% a year over five years.
- **Shareholder yield: 4.8%**. Dividends plus net buybacks return 4.8% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (14 analysts). 14 analysts cover Canadian Imperial Bank of Commerce; the consensus is buy, with an average price target of C$170.25 (+5% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 53.6%** (YTD 32.8%, 3-mo 7.9%). The shares are up 53.6% over twelve months including dividends.
- **From 52-week high: -5.9%** (51.4% above the low). Trading 6% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 0.78** (volatility 20%). Beta of 0.78 against the S&P/TSX Composite: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CM.TO · Page: https://foliofundamentals.com/stocks/cm.to

Not investment advice.