A Business at a Glance
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Item 1. Business. Comerica Incorporated is a financial services company, incorporated under the laws of the State of Delaware in 1973, and headquartered in Dallas, Texas. Based on total assets as reported in the most recently filed Consolidated Financial Statements for Bank Holding Companies (FR Y-9C), Comerica was among the 25 largest commercial United States (“U.S.”) financial holding companies. As of December 31, 2024, Comerica owned directly or indirectly all the outstanding common stock of two active banking subsidiaries (Comerica Bank, a Texas banking association, and Comerica Bank & Trust, National Association) as well as non-banking subsidiaries. At December 31, 2024, Comerica had total assets of approximately $79.3 billion, total deposits of approximately $63.8 billion, total loans of approximately $50.5 billion and shareholders’ equity of approximately $6.5 billion.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 3.3B | 5.0B | 5.3B | 3.7B | 3.0B | 3.1B |
| Net Income | 690M | 671M | 854M | 1.1B | 1.1B | 482M |
| EPS | $5.23 | $5.02 | $6.44 | $8.47 | $8.35 | $3.43 |
| Free Cash Flow | 0 | 601M | 1.3B | 638M | 634M | 928M |
| ROIC | 5.4% | 5.2% | 6.8% | 13.7% | 10.7% | 3.5% |
| Gross Margin | - | 74.2% | 81.3% | 92.9% | 85.4% | 76.8% |
| Debt/Equity | 0.73 | 1.02 | 1.53 | 1.20 | 0.35 | 0.71 |
| Dividends/Share | $2.94 | $2.84 | $2.84 | $2.72 | $2.72 | $2.72 |
| Operating Income | 45M | 60M | 83M | 1.5B | 99M | 91M |
| Operating Margin | 1.3% | 1.2% | 1.6% | 39.5% | 3.3% | 2.9% |
| ROE | 9.3% | 10.4% | 13.3% | 21.7% | 14.4% | 6.0% |
| Shares Outstanding | 128M | 134M | 133M | 132M | 137M | 141M |
COMERICA INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
COMERICA INC trades at 17.7x trailing earnings, compared to its 15-year median P/E of 9.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 19.7x vs a median of 8.7x. The company's 5-year average ROIC is 8.0% with a gross margin of 82.1%. Total shareholder yield (dividends + buybacks) is 6.7%. At current prices, the estimated annualized return to fair value is -4.9%.
COMERICA INC (CMA) has a current P/E ratio of 17.7, compared to its historical median P/E of 9.3. The stock is currently considered Expensive based on its historical valuation range.
COMERICA INC (CMA) has a 5-year average return on invested capital (ROIC) of 8.0%. This is below average and may indicate limited pricing power.
COMERICA INC (CMA) has a market capitalization of $11.3B. It is classified as a large-cap stock.
Yes, COMERICA INC (CMA) pays a dividend with a trailing twelve-month yield of 3.31%. The company also returns capital through share buybacks, with a buyback yield of 3.43%.
Based on historical P/E analysis, COMERICA INC (CMA) appears expensive. The current P/E of 17.7 is 90% above its historical median of 9.3. The estimated fair value CAGR (P/E method) is -0.9%.
COMERICA INC (CMA) operates in the National Commercial Banks industry, within the Financials sector.
COMERICA INC (CMA) reported annual revenue of $5.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
COMERICA INC (CMA) has a net profit margin of 13.4%. This is a healthy margin.
COMERICA INC (CMA) generated $601 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
COMERICA INC (CMA) has a debt-to-equity ratio of 1.02. This indicates moderate leverage.
COMERICA INC (CMA) reported earnings per share (EPS) of $5.02 in its most recent fiscal year.
COMERICA INC (CMA) has a return on equity (ROE) of 10.4%. This indicates moderate shareholder returns.
COMERICA INC (CMA) has a 5-year average gross margin of 82.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for COMERICA INC (CMA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
COMERICA INC (CMA) has a book value per share of $48.95, based on its most recent annual SEC filing.