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Commonwealth Bank of Australia (CBA) Fair Value & Analysis

Financial Services · AU · Market cap A$282B

CB Commonwealth Bank of Australia CBA · AU
PriceA$179.87
Fair ValueA$78.65
Upside-56.3%
Quality52/100
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Expensive Growth
Highly profitable · 36.4% net margin
High debt · negative free cash flow
2.94% dividend yield
Trails peers (5/14)
Wide moat 74/100
Evidence: High Range A$58.99 – A$98.31 Share as image

Fair value as of: Jul 11, 2026

From 17 valuation models · updated 27 days ago

Share price +7.9% over the past month.

A solid business, but screening 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (A$98.31). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

A$186.00 A$75.52 Fair Value A$78.65 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range A$75.52 – A$186.00 · fair‑value band A$58.99 – A$98.31 · the A$179.87 price screens above the A$78.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Commonwealth Bank of Australia (CBA) currently trades at A$179.87, while our model-based Fair Value estimate is A$78.65, implying the stock looks roughly 56.3% overvalued today. We read business quality at 52/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Commonwealth Bank of Australia generated revenue of A$28.5B at a net margin of 36.4%. Revenue grew 6.6% year over year. It earns a return on equity of 13.6%. Net debt stands at A$161B. Fundamentals as of Jul 11, 2026

Our scenario range runs from A$58.99 (bear case) to A$98.31 (bull case); at A$179.87, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high and 24% 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 -56%, CBA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income A$45.44 A$54.14 A$96.28 76
ROIC Compounder A$4.46 A$15.15 A$24.66 72
Gordon GGM A$45.73 A$99.83 A$167.97 70
All 17 models by family
DCF Models
Owner Earnings A$16.83 A$64.00 A$141.66 31
Earnings-Based
Graham-Dodd A$41.14 A$141.02 A$189.27 54
Lynch FV A$32.48 A$46.40 A$60.32 50
PEG = 1.0 A$32.48 A$46.40 A$60.32 46
EPV A$4.46 A$15.15 A$24.66 59
Dividend Discount
Gordon GGM A$45.73 A$99.83 A$167.97 70
DDM Multi-Stage A$45.73 A$80.67 A$104.04 61
Multiples
P/E Multiple A$90.75 A$121.00 A$151.24 63
P/S Multiple A$77.13 A$102.85 A$128.56 58
P/B Multiple A$77.13 A$102.85 A$128.56 55
EV/EBIT A$61.32 A$100.48 A$139.63 53
EV/EBITDA A$37.09 A$68.17 A$99.24 54
EV/Revenue A$16.85 A$48.14 A$79.42 43
Asset-Based
NCAV (Graham) A$23.56 A$31.56 A$47.11 50
Economic Profit
Residual Income A$45.44 A$54.14 A$96.28 76
ROIC Compounder A$4.46 A$15.15 A$24.66 72
Growth Earnings
Growth-Adj P/E A$78.13 A$111.61 A$145.09 68

Widest divergence: Growth Earnings (A$111.61) versus Economic Profit (A$15.15). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) A$28.5B
Revenue growth (YoY) +6.6%
Net margin 36.4%
Return on equity 13.6%
Free cash flow −A$2.5B FY2025
P/E ratio 25.9
More key figures
Operating margin 55.5%
EPS (TTM) A$6.21
Dividend yield 3.0%
EPS growth (YoY) +4.5%
Net debt A$161B FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 40 · Market factors (momentum, volatility) 61

Profitability 29
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 14
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Commonwealth Bank of Australia provides retail and commercial banking services in Australia, New Zealand, and internationally. It operates through Retail Banking Services, Business Banking, Institutional Banking and Markets, and New Zealand segments.

Full company description

Commonwealth Bank of Australia provides retail and commercial banking services in Australia, New Zealand, and internationally. It operates through Retail Banking Services, Business Banking, Institutional Banking and Markets, and New Zealand segments. The company offers savings and term deposit accounts, commonwealth direct investment accounts, and retail transaction accounts, as well as specialized accounts, such as statutory trust, society cheque, farm management, cash and treasury management, and business foreign currency deposit accounts. It also provides credit cards, personal and business loans, car and equipment finance, business overdrafts, margin lending, and international payment services; home loans; and buy-now-pay-later services. In addition, the company provides home and contents, car, health, life, income protection, pet, and travel insurance products. Further, it offers transaction banking, equity trading, and risk management products and services, as well as access to debt capital markets, capital raising, and investment and financial solutions. Commonwealth Bank of Australia was founded in 1911 and is based in Sydney, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Commonwealth Bank of Australia reported revenue of A$69.7B in FY2025 versus A$29.4B in FY2021, a compound +24.1%/yr. Reported net income was A$10.1B in FY2025, compounding −0.2%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
A$69.7B
Latest YoY
+6.4%
Avg. growth/yr (3Y)
+35.4%
Avg. growth/yr (5Y)
+14.7%
Avg. growth/yr (34Y)
+8.7%
Revenue +24.1%/yr
FY21 A$29.4B
FY22 A$28.1B
FY23 A$48.6B
FY24 A$65.5B
FY25 A$69.7B
Net income −0.2%/yr
FY21 A$10.2B
FY22 A$10.7B
FY23 A$10.0B
FY24 A$9.4B
FY25 A$10.1B

CBA screens 56% overvalued. Compare with JPMorgan Chase & Co →

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Cite: Fair Value Calculator (2026). "Commonwealth Bank of Australia Fair Value". https://www.fairvalue-calculator.com/stock/CBA

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Banks - Diversified · 47 stocks

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.

Quality Score 53 · Bottom 25%
Fair Value upside −56% · Bottom 25%
Return on equity (TTM) 14% · Above median
Return on assets 1% · Above median
Net margin (TTM) 36% · Above median
Operating margin (TTM) 56% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 2.9% · Below median
Debt / equity 1.90× · Higher than median

Valuation Multiples vs Banks - Diversified median · lower = cheaper

P/E (TTM) 27.1× · Pricier than 75% of peers
P/B 2.53× · Pricier than 75% of peers
P/S (TTM) 7.01× · Pricier than 75% of peers
EV/EBITDA 18.4× · Pricier than median
PEG 3.49× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 36
FUTURE 33 · sector 25
PAST 55 · sector 42
HEALTH 5 · sector 52
DIVIDEND 59 · sector 67

VALUE 0: the price sits above our fair-value range.

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
JPMorgan Chase & Co JPM $341.10 $278.99 -18%
Bank of America Corporation BAC $59.67 $55.89 -6%
China Construction Bank Corporation 601939 ¥10.16 ¥17.20 +69%
Industrial and Commercial Bank of China Limited 601398 ¥7.50 ¥13.44 +79%
HSBC Holdings HSBC $100.52 $84.67 -16%
Agricultural Bank of China Limited 601288 ¥6.37 ¥11.85 +86%
Royal Bank of Canada RY C$305.74 C$190.48 -38%
Bank of China Limited 601988 ¥5.88 ¥9.80 +67%
Wells Fargo & Company WFCS C$23.58 C$27.40 +16%
Banco Santander, S.A SAN 51.02 PLN 55.60 PLN +9%

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Frequently asked questions

Is Commonwealth Bank of Australia (CBA) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of A$78.65 versus a price of A$179.87, about −56% (overvalued).
What is the fair value of CBA?
Our model-based fair value for Commonwealth Bank of Australia is A$78.65 (as of Jul 11, 2026), built from audited fundamentals. The current price is A$179.87.
What is the quality score of CBA?
Commonwealth Bank of Australia has a Quality Score of 52/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Commonwealth Bank of Australia (CBA)?
Commonwealth Bank of Australia reported trailing-twelve-month revenue of about A$28.5B (latest available figure, as of Jul 11, 2026).
What is the net profit margin of CBA?
The net profit margin of Commonwealth Bank of Australia is about 36.4%, meaning it keeps roughly 36.4% of revenue as net income. Based on the latest reported figures.
Does Commonwealth Bank of Australia pay a dividend?
Commonwealth Bank of Australia currently shows a dividend yield of about 3.02% relative to its recent price (as of Jul 11, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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