Canadian Imperial Bank Of Commerce
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Earnings Call Q3 2026
August 27, 2026 - AI Summary
Strong Q3 earnings momentum (good): Adjusted EPS $2.73 (+26% YoY), net income $2.6B, revenues $8B (+15% YoY); pre-provision earnings $4B (+20% YoY) and 12th straight quarter of positive operating leverage (expenses +11% YoY with a ~200 bps efficiency ratio improvement). Reported EPS $2.47 included a $232M after-tax Caribbean charge treated as an item of note.
Balance sheet/capital strength + shareholder returns (good): CET1 13.4% (down 19 bps QoQ, driven by the Caribbean charge, minority stake closure in &Partners, and share repurchases), with $7.5M shares repurchased during the quarter. Liquidity coverage ratio ~127% average. ROE 16.8% (+260 bps YoY)—management emphasizes durability to support capital returns through uncertainty.
Net interest margin outlook largely stable (mostly good, some nuance): Management reiterated “stable to gradually positive” all-bank NIM over time (and indicated Canada should follow that direction). Canadian P&C NIM 304 bps (+3 bps sequentially) on loan/deposit margin execution; U.S. NIM down 14 bps QoQ attributed to loan growth outpacing deposits and some pricing/mix effects, with an expectation of seasonal reversion into later quarters.
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$306.08
155.4% upside
Current Fair Value
155.4% upsideUndervalued by 155.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $77.90 Billion |
|---|---|
| Enterprise Value | $223.05 Billion |
| Annual dividend | $3.06 |
| Dividend yield | 2.63% |
| Earnings per Share | $8.62 |
| Beta | 1.24 |
| Outstanding Shares | 649,927,000 |
Return
| Return on Equity | 15.07% |
|---|---|
| Return on Assets | 0.86% |
| Return on Invested Capital | 1.22% |
Valuation & Multiples
| P/E Ratio | 15.53 |
|---|---|
| PEG | 106.23 |
| Price to Sales | 1.44 |
| Price to Book Ratio | 1.16 |
| Enterprise Value to Revenue | 4.11 |
| Enterprise Value to EBIT | 17.89 |
| Enterprise Value to Net Income | 22 |
| Total Debt to Enterprise | 0.72 |
| Debt to Equity | 2.39 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 27, 2026
EPS Estimate
$1.80
Consensus analyst estimateRevenue Estimate
$5.74 B
Consensus analyst estimateNext Earnings Call
Expected Date
December 3, 2026
EPS Estimate
$1.83
Consensus analyst estimateRevenue Estimate
$5.96 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 147.42% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.19%▼ 63.89% |
|---|---|
| Total Invested | $1.59B▼ 96.82% |
| Investors Holding | 169▼ 445.00% |
About Canadian Imperial Bank Of Commerce
51,711 employees
CEO: Victor Dodig
Canadian Imperial Bank of Commerce (CIBC), established in Toronto, Canada, in 1867, functions as a comprehensive financial institution, providing an extensive range of products and services. Its varied client base encompasses individuals...