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One of Canada's Big Six banks, providing personal, business, wealth and capital markets banking with a US commercial/private banking arm.
One of Canada's Big Six banks, providing personal, business, wealth and capital markets banking with a US commercial/private banking arm.
Earns mostly from the lending spread and fees in Canada, where mortgages are a large part of lending, with wealth management and capital markets adding fees. Its smaller US arm is built around the 2017 purchase of the Chicago bank PrivateBancorp.
In one line: A Canadian bank with a US regional-bank-sized cross-border arm..
Moat: narrow (scale, regulatory licence, distribution). Protected member of Canada's Big Six banks with an entrenched national branch network.
Headquarters: Toronto, Canada · Founded: 1867 · Employees: 49,824
Size Canadian Imperial Bank of Commerce (CM.TO) is a Canada Financials company (Regional Banks) with a market value of $105B, the 7th largest of 420 Canada companies the cockpit tracks. Shares closed at C$162.69 on 6 Nov 2026.
Performance Over six months the shares gained 7.8%, against +7.5% for the median peer and +5.2% for the Canada market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +5.1%); the operating margin is 38.0% (peer median 35.0%).
Valuation It trades at 2.50× book value against a peer median of 1.24× (3rd most expensive of 20).
Price implies The share price implies a return on equity of about 20.1%; Canadian Imperial Bank of Commerce delivers 15.6%, so the price asks more than the business earns today.
Credit Canadian Imperial Bank of Commerce has 32 bonds outstanding ($35.5B), rated A- by the agencies and trading like BBB at a weighted spread of 97 bp.
Next results Next results expected around 3 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$62.4B | C$61.6B | C$63.6B | C$55.1B | C$31.1B |
| Revenue growth | — | -3% | +15% | +77% | — |
| Net income | C$10.1B | C$8.43B | C$7.12B | C$5.00B | C$6.22B |
| Free cash flow | C$29.3B | C$11.6B | C$15.3B | C$27.4B | C$18.0B |
| Capital expenditure | C$1.26B | C$1.11B | C$1.09B | C$1.01B | C$1.11B |
| Total debt | C$178B | C$167B | C$196B | C$165B | C$154B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Canadian Imperial Bank of Commerce CM.TO | $105B | +8% | 0% | 16% | 2.50× | 20.1% |
| Royal Bank of Canada RY.TO | $281B | +15% | +5% | 16% | 2.94× | 18.4% |
| Toronto-Dominion Bank TD.TO | $208B | +18% | -11% | 13% | 2.48× | 15.3% |
| Bank of Montreal BMO.TO | $120B | +16% | -2% | 11% | 2.14× | 16.4% |
| Bank of Nova Scotia BNS.TO | $114B | +21% | -3% | 12% | 1.99× | 16.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CM.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | +1.5% | 7th highest of 20 |
| 6-month return | +7.8% | +7.5% | 10th highest of 20 |
| Return on equity | 15.6% | 10.5% | 4th highest of 20 |
| Price / book | 2.50× | 1.24× | 3rd most expensive of 20 |
| Trailing P/E | 15.6× | 12.0× | 7th most expensive of 19 |
| ROE the price implies | 20.1% | 8.9% | 4th most demanding of 20 |
| ROE delivered | 15.6% | 10.4% | 4th highest of 19 |
| Bond spread | 97 bp | 86 bp | 3rd widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Canadian Imperial Bank of Commerce CM.TO | Canada | $105B | +8% | 0% | 16% | 2.50× | 20.1% | 15.6% |
| State Bank of India SBIN.NS | India | $99.5B | -7% | +6% | 15% | 1.40× | 20.7% | 14.6% |
| ICICI Bank ICICIBANK.NS | India | $119B | +23% | +8% | 16% | 2.89× | 36.7% | 16.3% |
| CaixaBank CABK.MC | Spain | $91.9B | +7% | -2% | 16% | 2.05× | 13.3% | 16.5% |
| Postal Savings Bank of China 1658.HK | Hong Kong | $71.2B | +10% | +2% | 9% | 0.54× | 5.7% | 8.8% |
| Japan Post Bank 7182.T | Japan | $65.5B | +7% | +39% | 7% | 1.11× | 8.3% | 6.6% |
| Industrial Bank 601166.SS | China | $62.6B | +10% | -4% | 9% | 0.49× | 2.2% | 9.2% |
| Truist Financial TFC | United States | $59.2B | +1% | -5% | 8% | 1.06× | 9.6% | 8.2% |
| Nu Holdings Ltd. Class A NU | United States | $58.1B | -13% | +54% | 32% | 4.39× | 32.4% | 31.6% |
| Credit Agricole ACA.PA | France | $53.7B | -8% | -1% | 9% | 0.68× | 8.1% | 8.9% |
| Shanghai Pudong Development Bank 600000.SS | China | $50.1B | +8% | -3% | 6% | 0.40× | 2.0% | 6.1% |
| Fifth Third Bancorp FITB | United States | $47.9B | +8% | +15% | 9% | 1.55× | 13.6% | 9.4% |
| Commerzbank CBK.DE | Germany | $46.3B | +4% | -3% | 10% | 1.36× | 10.3% | 10.3% |
| Ctbc Financial 2891.TW | Taiwan | $43.7B | +37% | +9% | 15% | 2.06× | 8.9% | 14.7% |
| Banca Monte dei Paschi di Siena BMPS.MI | Italy | $38.4B | +19% | +55% | 16% | 1.30× | 13.9% | 15.5% |
| KBFinancialGroup 105560.KS | South Korea | $37.5B | -5% | +32% | 10% | 0.99× | 5.6% | n/a |
| Bank of Jiangsu 600919.SS | China | $35.1B | +13% | +5% | 13% | 0.83× | 2.9% | 12.8% |
| Bank of Ningbo 002142.SZ | China | $34.0B | +3% | +3% | 13% | 0.92× | 7.0% | 13.3% |
| M&T Bank MTB | United States | $31.4B | +3% | 0% | 11% | 1.24× | 9.3% | 10.6% |
| Resona 8308.T | Japan | $30.8B | +9% | +17% | 9% | 1.57× | 8.7% | 9.3% |
Canadian Imperial Bank of Commerce has 32 bonds outstanding with $35.5B face value. The agencies rate it A-; its bonds trade like BBB. Weighted yield 3.98%, a spread of 97 bp over government bonds.