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COMMERZBANK AG (1CBK.MI) Stock Fundamental Analysis

BIT:1CBK - Euronext Milan - DE000CBK1001 - Common Stock - Currency: EUR

23.43  +3.64 (+18.39%)

Fundamental Rating

3

Overall 1CBK gets a fundamental rating of 3 out of 10. We evaluated 1CBK against 99 industry peers in the Banks industry. 1CBK has a bad profitability rating. Also its financial health evaluation is rather negative. 1CBK is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

1CBK had positive earnings in the past year.
1CBK had a positive operating cash flow in the past year.
1CBK had positive earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: 1CBK reported negative operating cash flow in multiple years.
1CBK.MI Yearly Net Income VS EBIT VS OCF VS FCF1CBK.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10B -10B 20B -20B 30B

1.2 Ratios

1CBK has a Return On Assets of 0.39%. This is amonst the worse of the industry: 1CBK underperforms 82.56% of its industry peers.
With a Return On Equity value of 6.72%, 1CBK is not doing good in the industry: 69.77% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA 0.39%
ROE 6.72%
ROIC N/A
ROA(3y)0.24%
ROA(5y)0.05%
ROE(3y)3.83%
ROE(5y)0.57%
ROIC(3y)N/A
ROIC(5y)N/A
1CBK.MI Yearly ROA, ROE, ROIC1CBK.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 -10

1.3 Margins

1CBK has a worse Profit Margin (17.17%) than 74.42% of its industry peers.
1CBK's Profit Margin has improved in the last couple of years.
1CBK does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 17.17%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5Y10.74%
GM growth 3YN/A
GM growth 5YN/A
1CBK.MI Yearly Profit, Operating, Gross Margins1CBK.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 -20

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3

2. Health

2.1 Basic Checks

1CBK does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for 1CBK has been reduced compared to 1 year ago.
Compared to 5 years ago, 1CBK has less shares outstanding
Compared to 1 year ago, 1CBK has a worse debt to assets ratio.
1CBK.MI Yearly Shares Outstanding1CBK.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B
1CBK.MI Yearly Total Debt VS Total Assets1CBK.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 100B 200B 300B 400B 500B

2.2 Solvency

1CBK has a debt to FCF ratio of 2.42. This is a good value and a sign of high solvency as 1CBK would need 2.42 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 2.42, 1CBK belongs to the best of the industry, outperforming 93.02% of the companies in the same industry.
A Debt/Equity ratio of 1.62 is on the high side and indicates that 1CBK has dependencies on debt financing.
The Debt to Equity ratio of 1CBK (1.62) is comparable to the rest of the industry.
Although 1CBK does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 1.62
Debt/FCF 2.42
Altman-Z N/A
ROIC/WACCN/A
WACC3.37%
1CBK.MI Yearly LT Debt VS Equity VS FCF1CBK.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20B -20B 40B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
1CBK.MI Yearly Current Assets VS Current Liabilites1CBK.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

1CBK shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.95%.
1CBK shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 21.39% yearly.
1CBK shows a small growth in Revenue. In the last year, the Revenue has grown by 1.02%.
Measured over the past years, 1CBK shows a small growth in Revenue. The Revenue has been growing by 7.10% on average per year.
EPS 1Y (TTM)-5.95%
EPS 3YN/A
EPS 5Y21.39%
EPS Q2Q%-2.7%
Revenue 1Y (TTM)1.02%
Revenue growth 3Y11.04%
Revenue growth 5Y7.1%
Sales Q2Q%-16.05%

3.2 Future

1CBK is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 1.38% yearly.
Based on estimates for the next years, 1CBK will show a small growth in Revenue. The Revenue will grow by 3.27% on average per year.
EPS Next Y14.18%
EPS Next 2Y13.07%
EPS Next 3Y16.9%
EPS Next 5Y1.38%
Revenue Next Year4.06%
Revenue Next 2Y4.81%
Revenue Next 3Y5.49%
Revenue Next 5Y3.27%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
1CBK.MI Yearly Revenue VS Estimates1CBK.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2B 4B 6B 8B 10B
1CBK.MI Yearly EPS VS Estimates1CBK.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 1 2 3

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 13.24 indicates a correct valuation of 1CBK.
Compared to the rest of the industry, the Price/Earnings ratio of 1CBK indicates a slightly more expensive valuation: 1CBK is more expensive than 73.26% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 29.35. 1CBK is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 10.23, the valuation of 1CBK can be described as reasonable.
Based on the Price/Forward Earnings ratio, 1CBK is valued a bit cheaper than the industry average as 63.95% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, 1CBK is valued rather cheaply.
Industry RankSector Rank
PE 13.24
Fwd PE 10.23
1CBK.MI Price Earnings VS Forward Price Earnings1CBK.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of 1CBK indicates a rather cheap valuation: 1CBK is cheaper than 97.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 1.29
EV/EBITDA N/A
1CBK.MI Per share data1CBK.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
1CBK's earnings are expected to grow with 16.90% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.93
PEG (5Y)0.62
EPS Next 2Y13.07%
EPS Next 3Y16.9%

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2

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.15%, 1CBK has a reasonable but not impressive dividend return.
1CBK's Dividend Yield is slightly below the industry average, which is at 5.06.
1CBK's Dividend Yield is a higher than the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 3.15%

5.2 History

Dividend Growth(5Y)N/A
Div Incr YearsN/A
Div Non Decr YearsN/A

5.3 Sustainability

DPN/A
EPS Next 2Y13.07%
EPS Next 3Y16.9%
1CBK.MI Yearly Income VS Free CF VS Dividend1CBK.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10B -10B 20B -20B 30B

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COMMERZBANK AG

BIT:1CBK (3/6/2025, 7:00:00 PM)

23.43

+3.64 (+18.39%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-13 2025-02-13/amc
Earnings (Next)05-09 2025-05-09
Inst Owners44.67%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap27.76B
Analysts79.13
Price Target21.56 (-7.98%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.15%
Yearly Dividend0.2
Dividend Growth(5Y)N/A
DPN/A
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-12.31%
Min EPS beat(2)-35.08%
Max EPS beat(2)10.46%
EPS beat(4)3
Avg EPS beat(4)4.41%
Min EPS beat(4)-35.08%
Max EPS beat(4)22.86%
EPS beat(8)5
Avg EPS beat(8)1.36%
EPS beat(12)8
Avg EPS beat(12)16.61%
EPS beat(16)10
Avg EPS beat(16)49.17%
Revenue beat(2)1
Avg Revenue beat(2)0.07%
Min Revenue beat(2)-1.15%
Max Revenue beat(2)1.29%
Revenue beat(4)3
Avg Revenue beat(4)12.81%
Min Revenue beat(4)-1.15%
Max Revenue beat(4)30.01%
Revenue beat(8)7
Avg Revenue beat(8)18.78%
Revenue beat(12)11
Avg Revenue beat(12)19.42%
Revenue beat(16)15
Avg Revenue beat(16)17.72%
PT rev (1m)12.69%
PT rev (3m)12.81%
EPS NQ rev (1m)-7.11%
EPS NQ rev (3m)-7.11%
EPS NY rev (1m)8.35%
EPS NY rev (3m)8.35%
Revenue NQ rev (1m)0.22%
Revenue NQ rev (3m)0.22%
Revenue NY rev (1m)0.21%
Revenue NY rev (3m)2.18%
Valuation
Industry RankSector Rank
PE 13.24
Fwd PE 10.23
P/S 2.2
P/FCF 1.29
P/OCF 1.29
P/B 0.86
P/tB 0.91
EV/EBITDA N/A
EPS(TTM)1.77
EY7.55%
EPS(NY)2.29
Fwd EY9.78%
FCF(TTM)18.15
FCFY77.48%
OCF(TTM)18.15
OCFY77.48%
SpS10.67
BVpS27.24
TBVpS25.82
PEG (NY)0.93
PEG (5Y)0.62
Profitability
Industry RankSector Rank
ROA 0.39%
ROE 6.72%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 17.17%
GM N/A
FCFM 170.22%
ROA(3y)0.24%
ROA(5y)0.05%
ROE(3y)3.83%
ROE(5y)0.57%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5Y10.74%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 1.62
Debt/FCF 2.42
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 991.11%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC3.37%
ROIC/WACCN/A
Cap/Depr(3y)86.19%
Cap/Depr(5y)59.13%
Cap/Sales(3y)7.44%
Cap/Sales(5y)7.74%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.95%
EPS 3YN/A
EPS 5Y21.39%
EPS Q2Q%-2.7%
EPS Next Y14.18%
EPS Next 2Y13.07%
EPS Next 3Y16.9%
EPS Next 5Y1.38%
Revenue 1Y (TTM)1.02%
Revenue growth 3Y11.04%
Revenue growth 5Y7.1%
Sales Q2Q%-16.05%
Revenue Next Year4.06%
Revenue Next 2Y4.81%
Revenue Next 3Y5.49%
Revenue Next 5Y3.27%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y4933.03%
FCF growth 3Y-16.49%
FCF growth 5YN/A
OCF growth 1Y4933.03%
OCF growth 3Y-15.82%
OCF growth 5YN/A