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Earnings transcript
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CMA
Comerica Incorporated
$88.67
-4.19
(-4.51%)
| Exchange: | NYSE |
| Market Cap: | 11.348B |
| Shares Outstanding: | 69.403M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Regional | |||||
| CEO: | Curtis Chatman Farmer | |||||
| Full Time Employees: | 7860 | |||||
| Address: |
| |||||
| Website: | https://www.comerica.com |
Comerica Incorporated (CMA) provides a diverse array of financial solutions and services through its various subsidiaries. The company operates across four main segments: Commercial Bank, Retail Bank, Wealth Management, and Finance. The Commercial Bank division serves a broad range of clients, including small and mid-sized businesses, multinational corporations, and government entities. Its offerings feature commercial loans and credit lines, deposit services, cash management, capital market instruments, international trade financing, letters of credit, foreign exchange services, and loan syndication. The Retail Bank segment focuses on individual consumers and very small businesses. It delivers personal financial services such as consumer lending, deposit gathering, and the origination of mortgage loans. This segment’s product suite includes deposit accounts, installment loans, credit cards, student loans, home equity lines of credit, and residential mortgages, along with tailored commercial services for micro-businesses. Within the Wealth Management segment, clients can access services like fiduciary support, private banking, retirement planning, investment management and advisory, and investment banking and brokerage services. Additionally, this division offers annuity products and various insurance options, including life, disability, and long-term care policies. The Finance segment is primarily responsible for managing the company’s securities portfolio and overseeing its comprehensive asset and liability management strategies. Comerica conducts its business in key U.S. states such as Texas, California, Michigan, Arizona, and Florida, and also has an international presence in Canada and Mexico. Established in 1849, the company was originally named DETROITBANK Corporation before changing its name to Comerica Incorporated in July 1982. Its corporate headquarters are situated in Dallas, Texas.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
Short, structured highlights from the call so you can focus on what matters.
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 5,253,000 | 4,993,000 | 4,798,000 |
| Gross Profit | 3,503,000 | 3,195,000 | 3,266,000 |
| EBITDA | 1,231,000 | 984,000 | 989,000 |
| Operating Income | 1,144,000 | 888,000 | 915,000 |
| Net Income | 881,000 | 698,000 | 723,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 85,834,000 | 79,297,000 | 80,074,000 |
| Total Liabilities | 79,428,000 | 72,754,000 | 72,367,000 |
| Total Stockholders Equity | 6,406,000 | 6,543,000 | 7,707,000 |
| Total Debt | 9,771,000 | 6,673,000 | 5,424,000 |
| Cash and Cash Equivalents | 9,502,000 | 6,804,000 | 866,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,251,000 | 601,000 | 0 |
| Capital Expenditure | -153,000 | -153,000 | 0 |
| Free Cash Flow | 1,098,000 | 448,000 | 0 |
| Net Income | 881,000 | 698,000 | 723,000 |
| Net Change in Cash | 3,220,000 | -2,698,000 | -6,804,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 3,319,053.062 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 3,528,062.356 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 3,411,780 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 1,050,321.006 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,116,462.416 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,079,664.631 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 618,410.104 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 669,463.485 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 643,936.795 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 1,069,145.893 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 1,136,472.756 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 1,099,015.444 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 4.820 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 5.030 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 4.650 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Revenue Performance: CMA has demonstrated consistent revenue growth as reflected in the income statements, with recent quarters showing strong increases in reported revenue. This indicates a solid operational foundation and effective market positioning within the industry.
- Healthy Free Cash Flow: The cash flow statements highlight a positive free cash flow trend, with significant net cash provided by operating activities. This financial flexibility supports reinvestment in innovation and potential dividend payouts, enhancing investor confidence.
- Favorable Valuation Metrics: CMA's price-to-earnings ratio (P/E TTM) and price-to-sales ratio (P/S TTM) suggest the stock is reasonably valued compared to industry averages, as per the key metrics data. This positions CMA as an attractive investment relative to peers.
- Strong Balance Sheet: The balance sheet data indicates a manageable debt-to-equity ratio (TTM) and substantial cash and cash equivalents, providing a buffer against economic downturns and supporting strategic initiatives.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates CMA intrinsic value between $49.19 – $52.16 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about CMA valuation
Is Comerica Incorporated (CMA) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Comerica Incorporated (CMA) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is CMA a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether CMA trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is CMA’s P/E ratio?
You can see CMA’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for CMA?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is CMA a good long-term investment?
Whether CMA fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
CMA
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Daily snapshot
-4.51
Trading Metrics:
| Open: | 91.85 | Previous Close: | 92.86 | |
| Day Low: | 88.67 | Day High: | 93.96 | |
| Year Low: | 48.12 | Year High: | 99.41 | |
| Price Avg 50: | 88.32 | Price Avg 200: | 72.03 | |
| Volume: | 10.142M | Average Volume: | 2.354M |
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Login — it's freeCMA full analysis
Welcome to MARKETSNAP’s SWOT analysis for Comerica Incorporated, a key player in the financial sector that I know many of you are keeping an eye on for your long-term portfolios. If you’re not too familiar with Comerica, let me give you the quick rundown. This is a well-established bank based in the U.S., operating primarily in the commercial banking and financial services space. With a solid footprint in regions like Texas, California, and Michigan, they cater to businesses, individuals, and…
