Canadian Imperial Bank of Commerce

$118.16

+2.16%

2026-09-03 16:00:03 EDT+$2.50

Financial Services

Banks - Diversified

NYSE

Active Trading

Canadian Imperial Bank of Commerce (CIBC) operates as a broad-based financial services provider, extending a wide array of financial offerings and solutions. ...

Price Action of CM

$118.16

+2.16%+$2.50

High—

Low—

52W High-5.4%

Rel. vol—

Interval

Range6.3h

Volume—SMA5SMA10

—

Canadian Imperial Bank of Commerce (CIBC), traded on the NYSE under the symbol CM, is one of Canada’s major diversified banks. The institution was formed in 1961 through the merger of two historic Canadian banks, which places CIBC’s modern platform in a longer lineage that dates back to the 19th ...Canadian Imperial Bank of Commerce (CIBC), traded on the NYSE under the symbol CM, is one of Canada’s major diversified banks. The institution was formed in 1961 through the merger of two historic Canadian banks, which places CIBC’s modern platform in a longer lineage that dates back to the 19th century. Today, CIBC serves a broad base of customers—individuals, businesses of varying sizes, public-sector clients, and large institutions—through a multi-division operating structure. Business model and services: CIBC’s operations are typically organized into four main areas: (1) Canadian Personal and Business Banking, (2) Canadian Commercial Banking and Wealth Management, (3) U.S. Commercial Banking and Wealth Management, and (4) Capital Markets. In practice, this means CIBC provides everyday banking products (such as deposits/accounts, credit cards, and overdraft services), mortgages and other consumer and business lending, and a range of commercial finance solutions including lines of credit and specialized lending. It also offers wealth management and investment-related services, which generally include advisory and investment products, as well as insurance-related offerings. Cross-border and institutional capabilities: Beyond traditional banking, CIBC supports international and institutional clients with services such as correspondent banking, digital foreign exchange, and cash management. These capabilities are important for corporate treasury operations, multinational cash movement, and risk management needs. Cost structure and operational considerations: As a large bank, CIBC’s cost base is largely driven by personnel and branch/operations infrastructure (even as digital channels evolve), technology and compliance/regulatory requirements, credit-loss provisions, and funding costs. Revenue generation depends on net interest income (the spread between lending yields and cost of funds), fees from banking and wealth services, and capital markets activity. The bank’s capital and liquidity management are central to its financial resilience and regulatory compliance, with performance influenced by interest-rate environments, credit quality, and market activity. Key people and leadership: The company’s CEO is Harry K. Culham, who has served as CIBC’s President and Chief Executive Officer (as indicated by the provided executive references). What to watch / wishes (investor and customer perspective): For customers, priorities typically include convenient digital banking, competitive lending/credit products, and strong service quality. For investors, key themes usually include disciplined credit underwriting, stable funding and liquidity, modernization of technology, consistent wealth-management growth, and the bank’s ability to adapt capital markets and commercial banking results across cycles.ExpandCollapse

Founded

1961

Employees

50648

CEO

Harry K. Culham

Full Name

Canadian Imperial Bank of Commerce

Sector

Financial Services

Industry

Banks - Diversified

ROE

15.44%

Market Cap

$109.49B

Current Ratio

0.10

WACC

8.12%

ROIC

-7.54%

Contact Information

https://www.cibc.com

12128563612

CIBC Square, Toronto, ON M5J 0E7

Key Metrics of CM

Snapshot

Latest / TTM · 6 periods

Market Cap

$109.49B

ROCE

1.2%

EV / EBITDA

23.35x

-2.8% YoY

FCF Yield

7.3%

-4.5% YoY

Cash Conversion Cycle

0.0d

Current Ratio

0.10

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Financial Highlights of CM

Profitability trend

Latest / TTM · 6 periods

Gross Margin

47.5%

Net Margin

16.1%

P/E Ratio

15.54x

n/a

Debt / Equity

2.65

n/a

Current Ratio

0.10

Dividend Yield

2.6%

Understanding

TTM —

Current ratio below 1.0

High debt to equity

Calendar of CM

Upcoming

Sep 28, 2026In 24 days
Ex-dividend date
$4.18 per share
Oct 28, 2026In 54 days
Dividend payment
$4.18 per share
Oct 31, 2026In 57 days
FY2026 · Estimated annual results
Est. EPS $10.67 · Revenue $33.40B · 8 analysts
Jan 31, 2027
Q1 FY2027 · Estimated results
Est. EPS $2.87 · Revenue $8.67B · 4 analysts

Recent history

Jul 31, 2026
Q3 FY2026 · Results reported
EPS CAD 2.47 · Revenue CAD 16.21B
Apr 30, 2026
Q2 FY2026 · Results reported
EPS CAD 2.53 · Revenue CAD 15.22B
Jan 31, 2026
Q1 FY2026 · Results reported
EPS CAD 3.21 · Revenue CAD 15.84B
Oct 31, 2025
FY2025 · Annual results
EPS CAD 8.57 · Revenue CAD 62.01B
Jul 31, 2025
Q3 FY2025 · Results reported
EPS CAD 2.15 · Revenue CAD 15.27B
Apr 30, 2025
Q2 FY2025 · Results reported
EPS CAD 2.04 · Revenue CAD 15.06B

Financial Statements of CM

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$62.0B	-3.1%	+6.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$8.4B	+18.5%	-2.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+43.0%	+17.1%	-0.9%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+17.6%	+23.2%	-8.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+13.6%	+22.3%	-8.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$12.7B	+27.3%	-86.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+20.5%	+31.4%	-87.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	554.9%	+2.3%	-56.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	0.13x	-4.9%	-45.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$1116.9B	+7.2%	+1.5%

Actual vs Estimate

A Oct 31Q Jul 31

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	8.57 vs 8.49	+1.0%	2.47 vs 2.53	-2.5%
Revenue Surprise	$62.0B vs $28.8B	+115.5%	$16.2B vs $8.1B	+101.1%

Earnings Call Transcript of CM

1 transcript segments

Q3 2026

Unknown Speaker

Operator: Good morning. Welcome to the CIBC Q3 Quarterly Results Conference Call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Geoff Weiss, Senior Vice President, Investor Relations and Performance Measurement. Please go ahead, Geoff. Geoffrey Weiss: Thank you, and good morning, everyone. We will begin this morning's call with opening remarks from Harry Culham, our President and Chief Executive Officer; followed by Rob Sedran, our Chief Financial Officer; and Frank Guse, our Chief Risk Officer. Also on the call today are a number of our executives, including Christian Exshaw, Capital Markets; Kevin Li, U.S. Region; Hratch Panossian, Personal and Business Bank in Canada; Susan Rimmer, Commercial Banking; and Eric Belanger, Wealth Management. They are available to take questions following the prepared remarks. As noted on Slide 1 of our investor presentation, our comments may contain forward-looking statements, which involve assumptions and have inherent risks and uncertainties. Actual results may differ materially. I would also remind listeners that the bank uses non-GAAP financial measures to arrive at adjusted results. Management measures performance on a reported and adjusted basis and considers both to be useful in assessing underlying business performance. With that, I would like to turn the call over to Harry. Harry Culham: Thank you, Geoff, and good morning, everyone. Today, we announced strong third quarter results, underscoring disciplined execution against a clear strategy. The connectivity of our platform and deep client relationships are translating into high-quality earnings and broad-based growth. We believe we have meaningful runway ahead to continue to drive outperformance from our purpose-built franchise. I'll start with an overview of our adjusted quarter 3 results and then share highlights of progress against our strategy this quarter. We reported earnings per share of $2.73, a 26% increase from the prior year, marking the ninth consecutive quarter of double-digit earnings per share growth. Revenues of $8 billion were up 15% from the prior year, reflecting broad-based momentum across each of our businesses. Expenses were up 11% from the prior year, marking our 12th consecutive quarter of positive operating leverage. Pre-provision pretax earnings rose 20% to $4 billion, while our efficiency ratio improved by 200 basis points from the prior year. We remain confident in the strength of our credit portfolios, and we continue to stay close to our clients. We recognize that rising trade and geopolitical tensions are having real consequences on the economy. The developments over the past week are a reminder that the path forward will not be linear, and we plan for a range of outcomes. Through periods like this, our clients can count on CIBC for timely advice and practical solutions to help them navigate what lies ahead. We have built a diversified franchise to weather uncertainty. …

Leadership Team of CM

11 executives

Name	Title	Compensation	Gender	Year Born	Status
Harry K. Culham	President, Chief Executive Officer & Director	CAD 2,989,964	Male	1968	Active
Shawn Beber	Special Advisor	CAD 2,220,689	Male	—	Active
Michael G. Capatides	Vice-Chair of CIBC Bank USA	CAD 2,105,908	Male	—	Active
Hratch Panossian	Senior EVP and Group Head of Canadian Personal & Business Banking	CAD 1,554,845	Male	—	Active
Robert Sedran	Senior EVP, CFO & Enterprise Strategy	CAD 1,241,968	Male	1972	Active
Stephen Scholtz	Executive VP & Global Chief Legal Officer	—	Male	—	Active
Amy South	Senior Executive VP, Chief Administration Officer & Chief of Staff	—	Female	—	Active
John Ferren	Senior Vice President of Deposit Products & Analytics	—	Male	—	Active
Stephen J. Forbes	Chief Commercial Officer & Executive Vice President	—	Male	—	Active
Michael J. Boluch	Executive Vice President of Technology & Enterprise Innovation	—	Male	—	Active
Yvonne Dimitroff	Executive VP and Chief Human Resources Officer of People, Culture & Talent	—	Female	—	Active

Recent News of CM

Investors Business Daily8/3/2026Neutral

This Financial Services Name Offers Two Buy Points And Accelerating Profit

This Canadian bank stock is near its all-time high and is up around 30% this year.

Zacks Investment Research7/23/2026Neutral

ITUB or CM: Which Is the Better Value Stock Right Now?

Investors interested in Banks - Foreign stocks are likely familiar with Banco Itau (ITUB) and Canadian Imperial Bank (CM). But which of these two companies is the best option for those looking for undervalued stocks?

Defense World7/23/2026Neutral

Canadian Imperial Bank of Commerce (NYSE:CM) Given Average Rating of “Moderate Buy” by Brokerages

Canadian Imperial Bank of Commerce (NYSE: CM - Get Free Report) (TSE: CM) has earned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1

Zacks Investment Research7/7/2026Neutral

ITUB vs. CM: Which Stock Is the Better Value Option?

Investors interested in Banks - Foreign stocks are likely familiar with Banco Itau (ITUB) and Canadian Imperial Bank (CM). But which of these two stocks offers value investors a better bang for their buck right now?

Zacks Investment Research6/17/2026Neutral

BCS vs. CM: Which Stock Should Value Investors Buy Now?

Investors looking for stocks in the Banks - Foreign sector might want to consider either Barclays (BCS) or Canadian Imperial Bank (CM). But which of these two companies is the best option for those looking for undervalued stocks?

Historical Employee Count of CM

Current

Minimum

Maximum

Recent Filings

Report Date	Form Type	Filing Date	SEC Filing
Oct 31, 2025	40-F	Dec 4, 2025	View
Oct 31, 2024	40-F	Dec 5, 2024	View
Oct 31, 2023	40-F	Nov 30, 2023	View
Oct 31, 2022	40-F	Dec 1, 2022	View
Oct 31, 2021	40-F	Dec 2, 2021	View

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Canadian Imperial Bank of Commerce