Company Valuation: Commerzbank

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,377 11,066 13,345 18,629 39,584 43,039 - -
Change - 32.1% 20.59% 39.6% 112.49% 8.73% - -
Enterprise Value (EV) 8,377 11,066 13,345 18,629 39,584 43,039 43,039 43,039
Change - 32.1% 20.59% 39.6% 112.49% 8.73% 0% 0%
P/E 29.1x - 6.6x 7.56x 17.5x 12.7x 10.5x 8.54x
PBR 0.33x - 0.48x 0.6x 1.31x 1.4x 1.3x 1.23x
PEG - - - 0.3x -18.2x 0.2x 0.5x 0.4x
Capitalization / Revenue 0.99x 1.17x 1.28x 1.68x 3.25x 3.24x 3.02x 2.83x
EV / Revenue 0x 0x 0x 0x 0x 3.24x 3.02x 2.83x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 6.86x 6x 5.44x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - 0.35 0.65 1.1 1.616 1.965 2.427
Rate of return - - 3.25% 4.13% 3.05% 4.06% 4.93% 6.09%
EPS 2 0.23 - 1.63 2.08 2.06 3.133 3.795 4.664
Distribution rate - - 21.5% 31.3% 53.4% 51.6% 51.8% 52%
Net sales 1 8,459 9,461 10,461 11,106 12,171 13,289 14,262 15,183
EBITDA - - - - - - - -
EBIT 1 1,753 2,975 4,039 4,580 5,231 6,276 7,177 7,916
Net income 1 430 1,435 2,224 2,677 2,625 3,390 3,901 4,551
Net Debt - - - - - - - -
Reference price 2 6.69 8.84 10.76 15.72 36.10 39.82 39.82 39.82
Nbr of stocks (in thousands) 1,252,358 1,252,358 1,240,223 1,184,669 1,096,524 1,080,847 - -
Announcement Date 17/02/22 16/02/23 15/02/24 13/02/25 11/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.01x - - 1.78% 942B
13.07x - - 1.95% 428B
6.2x - - 5% 396B
12.5x - - 4.18% 350B
5.94x - - 5.13% 313B
17.85x - - 2.41% 284B
6.27x - - 5.01% 277B
11.63x - - 2.24% 257B
14.53x - - 2.73% 255B
Average 11.33x 3.38% 389.13B
Weighted average by Cap. 11.70x 3.11%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield