Reading the tape
NYSE: CM
Canadian Imperial Bank of Commerce
Financial Services · Banks - Diversified
Market Cap
$101.94B
52w High
$113.28
52w Low
$63.53
P/E
14.88
Volume
763.03K
Outstanding Shares
926.61M
Price vs Fundamentals
Why The Stock Is Moving
Momentum disconnected from fundamentalsModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 72.54%Revenue (TTM): -4.37%FCF (TTM): -155.88%P/E: 64th pct
What changed
The stock rose 72.54% over the last year. Revenue declined 4.37% over the trailing twelve months. Operating margin moved from 15.23% to 18.83%. Free cash flow declined 155.88% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 64th percentile of its historical P/E range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently 18.83%) would need to stabilize or improve to justify the move. Revenue is declining 4.37% — a trend reversal in the next report would be the key signal to watch. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Company profile
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.
CEOHarry K. Culham
SectorFinancial Services
IndustryBanks - Diversified
Employees48,698
IPO dateNov 13, 1997
Valuation
Forward P/E—
EV/EBITDA33.72
Enterprise value$408.61B
Price / Book1.59
Stock splits
May 16, 2022↑ Forward
Every 1 shares became 2
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Income growth16.26%
Gross marginN/A
Operating margin41.01%▲5.26%vs FY2024
ROE13.14%▲8.50%vs FY2024
Analyst consensus
RatingHold
Target price$106.62▼3.08%
4
Buy
9
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 28, 2026
Q2 FY26 · EPS est $1.78 · Revenue est $5.73B
View
Dividends
$2.96/shareQuarterly3yr growth streakCM pays a dividend with a 2.69% dividend yield, 3 consecutive years of growth.
Dividend Yield
2.69%
Annual Div / Share
$2.96
TTM $4.08
5yr CAGR
+5.84%
Payout Ratio
43.66%
Bank — specialized metrics apply
Dividend Growth Rate
3yr CAGR
+5.86%
5yr CAGR
+5.84%
10yr CAGR
+5.53%
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$2.96+9.9%
2024$2.69+1.6%
2023$2.65+6.2%
2022$2.50-27.1%
2021$3.42+53.5%
2020$2.23+4.3%
2019$2.14-26.9%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$27/yr
$2/mo
In 5 yrs
$27/yr
$2/mo
In 10 yrs
$27/yr
$2/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$27/yr $2/mo | $27/yr $2/mo | $27/yr $2/mo |
5yr and 10yr income use the current dividend with no growth assumption because bank payout growth depends on earnings cycles, regulation, and capital policy.