COMMONWEALTH BANK OF AUSTRALIA (CBA)
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CBA

CBA - COMMONWEALTH BANK OF AUSTRALIA

FNArena Sector : Banks
Year End: June
GICS Industry Group : Banks
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Commonwealth Bank is Australia’s largest retail bank, providing retail, business and institutional banking, wealth and broking services including CommSec. It first listed in 1991.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$154.19

11 Sep
2026

0.990

OPEN

$153.60

0.65%

HIGH

$154.42

1,813,772

LOW

$152.55

TARGET
$123.938 -19.6% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AFG . ANZ . BEN . BOQ . HLI . MYS . NAB . RMC . SUN . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
CBA: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 649.9 667.4 xxx
DPS (cps) xxx 505.0 512.5 xxx
EPS Growth xxx 7.4% 2.7% xxx
DPS Growth xxx 4.1% 1.5% xxx
PE Ratio xxx N/A 23.2 xxx
Dividend Yield xxx N/A 3.3% xxx
Div Pay Ratio(%) xxx 77.7% 76.8% xxx

Dividend yield today if purchased 3 years ago: 4.90%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.26

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 19/08 - ex-div 270.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx649.9
DPS All xxxxxxxxxxxxxxx505.0
Sales/Revenue xxxxxxxxxxxxxxx70,473.0 M
Book Value Per Share xxxxxxxxxxxxxxx4,707.7
Net Operating Cash Flow xxxxxxxxxxxxxxx-177.0 M
Net Profit Margin xxxxxxxxxxxxxxx15.48 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx13.86 %
Return on Invested Capital xxxxxxxxxxxxxxx4.15 %
Return on Assets xxxxxxxxxxxxxxx0.78 %
Return on Equity xxxxxxxxxxxxxxx13.86 %
Return on Total Capital xxxxxxxxxxxxxxx4.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-9,245.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx118,994 M
Long Term Debt xxxxxxxxxxxxxxx189,212 M
Total Debt xxxxxxxxxxxxxxx308,206 M
Goodwill - Gross xxxxxxxxxxxxxxx5,288 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx48,453 M
Price To Book Value xxxxxxxxxxxxxxx3.50

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx2,040.0 M
Capex % of Sales xxxxxxxxxxxxxxx2.89 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4,754 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx289,240 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-1.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Macquarie

13/08/2026

5

Underperform

$112.00

-27.36%

On further analysis, Macquarie notes the FY26 results from CommBank revealed better margin trends compared with peers, albeit with heightened risk that is similar.

The broker was surprised by the decision to run down the third quarter CP top up, particularly given the challenging macro backdrop, which suggests a risk to impairments if the economy deteriorates more than expected.

The bank asserts it has flexibility to manage costs and pre-provision profits, and would maintain investment expenditure at around -$2.4bn.

Macquarie continues to believe the current valuation is stretched, raising the target to $112 from $111 as minor earnings downgrades are offset by a higher relative valuation. Underperform.

****

Macquarie, in an initial view, found CommBank's results for FY26 "relatively clean" and in line with expectations. The main issue the broker has is with the valuation, as the stock continues to trade on elevated multiples and a strong premium to peers.

Impairments surprised to the downside while second half volume growth was strong across all divisions. No guidance was provided.

Given slowing mortgage growth the bank has witnessed a -15% drop in mortgage applications since the federal budget, the broker envisages modest downside to consensus expectations.

Underperform rating. Target is $111.

FORECAST
Macquarie forecasts a full year FY27 dividend of 505.00 cents and EPS of 660.60 cents.
Macquarie forecasts a full year FY28 dividend of 505.00 cents and EPS of 673.50 cents.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

13/08/2026

5

Sell

$90.00

-41.63%

Jarden maintains a Sell rating for CommBank with a $90.00 target price following a second-half financial result slightly ahead of expectations.

Cash net profit after tax reached $5,537m, beating consensus by 3%, driven by tight cost management and a lower-than-expected bad debt charge of $469m.

However, the analyst considers the forward outlook challenging as persistently negative home loan applications indicate a structural decline in demand.

With the bank highly leveraged to housing and deposits, the broker's estimates suggest this scenario presents materially negative consequences for revenue volume and net interest margin growth across both sides of the balance sheet.

The suggestion is the stock remains incorrectly valued despite delivering an acceptable interim result.
Access Extra Coverage Research History >

CBA STOCK CHART

FNArena News on CBA

1
Next Week At A Glance – 14-18 Sep 2026

Sep 11 2026 - Weekly Reports
2
It Pays To Be Contrarian On CBA Shares

Sep 10 2026 - Technicals
3
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Sep 07 2026 - Australia
4
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Sep 01 2026 - Technicals
5
Next Week At A Glance 24-28 Aug 2026

Aug 21 2026 - Weekly Reports

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Mar 13 2026 - Feature Stories
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Mar 09 2026 - Feature Stories