Canadian Imperial Bank Of Commerce (CM) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Canadian Imperial Bank Of Commerce stock $78.20, price $116, that is 32.9% below the price, quality 49 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range $30.71 – $122.92 · fair‑value band $65.98 – $108.88 · the $116.48 price screens above the $78.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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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.
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The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S. Commercial Banking and Wealth Management; Capital Markets and Direct Financial Services; and Corporate and Other segments.
It offers checking, savings, agriculture, and business accounts; mortgages; business, car, education, home, and other loans; lines of credit and agriculture loans; and cash management, small business financing, and overdraft protection services.
The company also provides investment and insurance services; healthcare banking; credit cards; private banking, wealth planning, investment management, and estate planning and trust; and ATMs, as well as mobile, online, and global money and wire transfer services.
Canadian Imperial Bank of Commerce was founded in 1867 and is headquartered in Toronto, Canada.
Stock analysis
Canadian Imperial Bank Of Commerce (CM) currently trades at $116.48, while our model-based Fair Value estimate is $78.20, 32.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $85.98 per share, and 1 of the 6 models we run sit above the $116.48 price.
Bear case: the Asset-Based group reads lowest at $41.15, and 5 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: $65.98 (bear) to $108.88 (bull), the price of $116.48 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Canadian Imperial Bank Of Commerce reported revenue of $62.0B in FY2025 versus $23.2B in FY2021, a compound +27.8%/yr. Reported net income was $8.4B in FY2025, compounding +7.0%/yr from FY2021.
Key figures
Market cap $104B Large · P/E ratio 15.6 · P/S ratio 2.12 · EPS (TTM) $7.47 · Dividend yield 3.6% · Net margin 13.6% · Return on equity 15.6% · Return on assets (EBIT) 0.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 72 out of 100 (medium confidence).
What moves the price
The share trades about 5% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −33%, CM screens richer than that median.
Fair Value models
Bear$65.98Fair Value $78.20Bull$108.88
Price $116.48 · Downside -32.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($3.29 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−3.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.8%
Start year 2020 (pandemic). Over 10 years: +13.7% a year
Revenue growth 32 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+12.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.8%
Dividend (yield on the price)3.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.4% vs 7.1%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 18%
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Canadian scale and ROE provide moderate moat signals while limited differentiation and negative operating cash flow remain the main weaknesses.
Main risk: Challenger banks such as EQ Bank, KOHO, Neo Financial and Wealthsimple could draw retail customers with lower fees, higher savings rates and fully digital services, reducing CIBC's deposit and lending volumes in personal banking.
Bull case: CIBC could integrate its AI platforms and Simplii digital arm more deeply with fintech partners to match or exceed challenger offerings while using regulatory compliance as a competitive advantage in trust and stability.
Bear case: Persistent fintech competition and tighter OSFI mortgage oversight could steadily erode CIBC's retail deposit base and lending margins, forcing greater reliance on higher-risk capital markets activities amid slower Canadian economic growth.
CIBC is adopting Thought Machine's cloud-native Vault Core platform as the first large Canadian bank to do so. The goal is faster development and launch of new banking products to meet evolving client needs. In a regulated environment the upgrade could streamline operations or create costly integration hurdles. Will the new system speed up product innovation more than it disrupts day-to-day stability?
Compare Canadian Imperial Bank Of Commerce with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Diversified · 46 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Bottom 25%
Fair Value upside−32.9% · Below median
Profitability
Return on equity (12 months)15.6% · Top 25%
Return on assets0.8% · Above median
Net margin (12 months)33.7% · Above median
Operating margin (12 months)40.0% · Below median
Growth and dividend
Revenue growth (quarter YoY)16.6% · Top 25%
Dividend yield (12 months)3.6% · Above median
Balance sheet
Debt / equity0.17× · Lowest 25%
Valuation Multiplesvs Banks - Diversified median · lower = cheaper
P/E (12 months)15.6× · Pricier than median
P/B1.62× · Pricier than median
P/S (12 months)3.47× · Cheaper than median
EV/EBITDA4.9× · Cheapest 25%
PEG1.71× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)83· sector 36
PAST (return on equity)62· sector 47
HEALTH (low debt)92· sector 40
DIVIDEND (yield)72· sector 62
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Canadian Imperial Bank Of Commerce Fair Value". https://www.fairvalue-calculator.com/stock/CM
Frequently asked questions
Is Canadian Imperial Bank Of Commerce (CM) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of $78.20 versus a price of $116.48, about 33% lower (overvalued).
What is the fair value of CM?
Our model-based fair value for Canadian Imperial Bank Of Commerce is $78.20 (as of Nov 1, 2026), built from audited fundamentals. The current price: $116.48.
What is the quality score of CM?
Canadian Imperial Bank Of Commerce has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Canadian Imperial Bank Of Commerce (CM)?
Our model-based price target is the fair value of $78.20 (as of Nov 1, 2026) from 6 valuation models. Cautious scenario $65.98, optimistic scenario $108.88. It is a calculation from audited fundamentals, not an analyst target.
What is the Canadian Imperial Bank Of Commerce stock forecast for 2026?
Our models put fair value at $78.20, about 33% lower versus a price of $116.48 (overvalued). Cautious scenario $65.98, optimistic scenario $108.88. The calculation is refreshed regularly with new filings.
What is the revenue of Canadian Imperial Bank Of Commerce (CM)?
Canadian Imperial Bank Of Commerce reported trailing-twelve-month revenue of about $30.0B (latest available figure, as of Nov 1, 2026).
Does Canadian Imperial Bank Of Commerce pay a dividend?
Canadian Imperial Bank Of Commerce currently shows a dividend yield of 3.59% relative to its recent price (as of Nov 1, 2026).
What is the intrinsic value of Canadian Imperial Bank Of Commerce (CM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Canadian Imperial Bank Of Commerce it is $78.20 per share (as of Nov 1, 2026), against a price of $116.48. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Canadian Imperial Bank Of Commerce stock overvalued or undervalued in 2026?
As of Nov 1, 2026, CM trades above its calculated fair value: price $116.48, fair value $78.20, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CM?
No. The price is what the market pays today ($116.48); the fair value is what the company's own numbers justify ($78.20). For Canadian Imperial Bank Of Commerce the two are $38.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Canadian Imperial Bank Of Commerce worth?
The market values Canadian Imperial Bank Of Commerce at about $104B (market capitalisation, as of Nov 1, 2026). Per share that is $116.48; our models calculate a fair value of $78.20 per share.
What do the bullish and bearish scenarios say about CM?
Our models span a range for Canadian Imperial Bank Of Commerce: cautious scenario $65.98, base $78.20, optimistic $108.88 per share (as of Nov 1, 2026, price $116.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CM?
Canadian Imperial Bank Of Commerce trades at a price-to-earnings ratio of 15.6 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $78.20 is built from several models across several years. Other multiples: PEG 1.7, P/B 1.6, P/S 3.5, EV/EBITDA 4.9.
What is the PEG ratio of CM?
The PEG ratio of Canadian Imperial Bank Of Commerce is 1.71 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Canadian Imperial Bank Of Commerce (CM)?
Balance-sheet figures for Canadian Imperial Bank Of Commerce (as of Nov 1, 2026): return on equity 15.6%, debt of 0.17 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is CM from its 52-week high?
Canadian Imperial Bank Of Commerce trades at $116.48, about 5% below its 52-week high of $122.92 and 46% above the low of $79.97 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of $78.20 is for.
Which stocks are comparable to Canadian Imperial Bank Of Commerce?
From the same area (Financial Services) we also value JPMorgan Chase & Co, China Construction Bank Corporation, Industrial and Commercial Bank of China Limited, Agricultural Bank of China Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Canadian Imperial Bank Of Commerce stock attractive at the current price?
The data as of Nov 1, 2026: price $116.48, calculated fair value $78.20 (−33%), Quality Score 49/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CM calculated?
We run Canadian Imperial Bank Of Commerce through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $78.20, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.2 % above its aggregate fair value. Canadian Imperial Bank Of Commerce itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Canadian Imperial Bank Of Commerce (CM)?
The closing price on Oct 30, 2026 was $116.48. Our model-based fair value is $78.20, about 33% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Canadian Imperial Bank Of Commerce right now?
The price sits above even our optimistic bull case ($108.88). The favourable scenario is already priced in. Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Canadian Imperial Bank Of Commerce (CM) come from?
Earnings per share at Canadian Imperial Bank Of Commerce grew +5.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.8 %, EBIT margin −5.6 %, tax rate −1.1 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Canadian Imperial Bank Of Commerce
How large is the market capitalisation of Canadian Imperial Bank Of Commerce (CM)?
The market capitalisation of Canadian Imperial Bank Of Commerce is $104B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Canadian Imperial Bank Of Commerce (CM)?
The price-to-sales ratio of Canadian Imperial Bank Of Commerce is 2.12 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Canadian Imperial Bank Of Commerce (CM)?
Earnings per share at Canadian Imperial Bank Of Commerce are $7.47 (price ÷ EPS = P/E 15.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Canadian Imperial Bank Of Commerce (CM)?
The dividend yield of Canadian Imperial Bank Of Commerce is 3.6% (payout 56.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Canadian Imperial Bank Of Commerce (CM)?
The net margin of Canadian Imperial Bank Of Commerce is 13.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Canadian Imperial Bank Of Commerce (CM)?
The return on equity (ROE) of Canadian Imperial Bank Of Commerce is 15.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Canadian Imperial Bank Of Commerce (CM)?
On an EBIT basis the return on assets of Canadian Imperial Bank Of Commerce is 0.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Canadian Imperial Bank Of Commerce (CM)?
The operating margin of Canadian Imperial Bank Of Commerce is 40.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Canadian Imperial Bank Of Commerce (CM)?
Revenue at Canadian Imperial Bank Of Commerce is growing +16.6% versus a year earlier (3y avg +25.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Canadian Imperial Bank Of Commerce (CM)?
Earnings per share at Canadian Imperial Bank Of Commerce are growing +14.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Canadian Imperial Bank Of Commerce (CM) generate?
The free cash flow of Canadian Imperial Bank Of Commerce is −$24.5B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Canadian Imperial Bank Of Commerce (CM) carry?
The net debt of Canadian Imperial Bank Of Commerce is $300B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 1, 2026