Commerzbank AG (HAM:CBK) Cyclically Adjusted PS Ratio: (As of Aug. 11, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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HAM:CBK Commerzbank AG HAM:CBK
64 GF Score
Price €39.05
GF Value €19.38
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Commerzbank AG Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Commerzbank AG  (HAM:CBK) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Commerzbank AG Cyclically Adjusted PS Ratio Related Terms


Commerzbank AG Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Commerzbank AG's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Commerzbank AG Cyclically Adjusted PS Ratio Chart

Commerzbank AG Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.70 0.99 1.21 1.72 3.84

Commerzbank AG Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.90 3.46 3.84 3.20 0.00

HAM:CBK vs PNC, USB: Cyclically Adjusted PS Ratio Comparison

For the Banks - Regional subindustry, Commerzbank AG's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Commerzbank AG Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Commerzbank AG's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Commerzbank AG's Cyclically Adjusted PS Ratio falls into.


HAM:CBK
64GF Score
Commerzbank AG HAM:CBK
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Commerzbank AG Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Commerzbank AG's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Commerzbank AG's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=3.041/131.3638*131.3638
=3.041

Current CPI (Jun. 2026) = 131.3638.

Commerzbank AG Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.900 101.017 2.471
201612 1.560 101.217 2.025
201703 1.955 101.417 2.532
201706 1.642 102.117 2.112
201709 2.000 102.717 2.558
201712 1.468 102.617 1.879
201803 1.713 102.917 2.186
201806 1.754 104.017 2.215
201809 1.714 104.718 2.150
201812 1.606 104.217 2.024
201903 1.739 104.217 2.192
201906 1.699 105.718 2.111
201909 1.741 106.018 2.157
201912 1.856 105.818 2.304
202003 1.462 105.718 1.817
202006 1.901 106.618 2.342
202009 1.701 105.818 2.112
202012 1.928 105.518 2.400
202103 2.061 107.518 2.518
202106 1.788 108.486 2.165
202109 1.612 109.435 1.935
202112 2.250 110.384 2.678
202203 2.249 113.968 2.592
202206 2.006 115.760 2.276
202209 1.428 118.818 1.579
202212 2.599 119.345 2.861
202303 2.114 122.402 2.269
202306 2.650 123.140 2.827
202309 1.684 124.195 1.781
202312 3.039 123.773 3.225
202403 2.280 125.038 2.395
202406 2.836 125.882 2.960
202409 1.707 126.198 1.777
202412 3.612 127.041 3.735
202503 2.680 127.779 2.755
202506 2.674 128.412 2.735
202509 2.589 129.255 2.631
202512 3.563 129.361 3.618
202603 2.961 131.258 2.963
202606 3.041 131.364 3.041

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Commerzbank AG (HAM:CBK) Overvalued in 2026?

Based on GuruFocus' analysis, Commerzbank AG stock appears to be overvalued. The current stock price of €39.05 is trading 101.5% above its estimated GF Value™ of €19.38. GuruFocus considers Commerzbank AG to be Significantly Overvalued.

Key valuation signals for HAM:CBK:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €19.38 vs. price of €39.05 (101.5% above fair value)
  • GF Score™: 64/100 with 6 warning signs

No single metric tells the full story. See the HAM:CBK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Commerzbank AG Business Description

Address Kaiserplatz, Frankfurt, HE, DEU, 60261
Commerzbank operates primarily in Europe. Germany accounts for about 70% of the total income. The bank operates two business segments: private and small-business customers, as well as corporate clients. In its private and small-business segment, the group operates a branch network, a mobile bank focused on the Polish market, an online broker, and an asset manager for physical assets. Its corporate client business provides cash management and trade finance solutions to small and medium-size enterprises and large companies.
64GF Score

Get the complete analysis for HAM:CBK

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€39.05
Price
€19.38
GF Value