Commonwealth Bank (CBA) $154.01
Australia’s largest bank remains a top-quality business, but valuation is still difficult to justify relative to its peers, particularly as the operating environment for the entire sector becomes more challenging.
Commonwealth Bank (CBA)
CBA $166.72
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Performance
Advanced charting functionality with the ability to amend timeframes, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 166.72
- Change
- ▲ 0.33 (0.20)
- Bid / Ask
- 166.72 - 166.74
- Volume
- 2,694,400
- Turnover
- 378,034,168
- Open
- 167.00
- Day Range
- 166.00 - 169.26
- VWAP
- 167.40
- Prev Close
- 166.39
- Last Trade
- 30/10 4:10pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Financial Services
- Shares Issued
- 1,673,462,358
- NTA/Share
- 41.98
- Last Dividend
- 2.70
- Dividend Ex Date
- 19 AUG 2026
- Dividend Pay Date
- 29 SEP 2026
Current (AUD) · FY2026
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 29,901.00
- EBITDA
- —
- Profit
- 10,866.00
- Earnings Per Share (EPS)
- 6.49
- Dividend Per Share (DPS)
- 5.05
- Yield %
- 3.04
- Market Cap
- 278,727.60
- Price to Earnings Ratio (P/E)
- 25.58
Estimates (AUD) · FY2027
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
- Revenue
- —
- EBITDA
- —
- Profit
- —
- Earnings Per Share (EPS)
- 6.67
- Dividend Per Share (DPS)
- 5.15
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Overvalued
- Economic Moat
- Wide
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 28 OCT 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 99.87 Fair value 135.67 One-star price 184.30
Morningstar Quantitative Rating as of 28 OCT 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 135.67
- Price / Fair Value
- 1.20
- Valuation
- Overvalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 28 OCT 2026. The slider runs from the five-star price (99.87) to the one-star price (184.30).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 166.39 |
| Price - 12 month high | 185.59 |
| Price - 12 month low | 147.41 |
| Pricing date | 28 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 2.27 |
| Market capitalization | 278,175.89 |
| 12 Month High price date | 14 APR 2026 |
| 12 Month Low price date | 24 SEP 2026 |
| Volume - avg. trading volume for the last 3 months | 2.10 |
| Price - 1 Day % Change | 2.07% |
| Price - 13 week price percent change | -6.93% |
| Price - 26 week price percent change | -4.71% |
| Price - 5 Day % Change | 5.97% |
| Price - 52 week price percent change | -4.38% |
| Price - YTD price percent change | 3.62% |
| Price % Change Month To Date | 9.81% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | 6.517 |
| EPS excluding extraordinary items - trailing 12 month | 6.517 |
| EPS Normalized - most recent fiscal year | 6.560 |
| Revenue/share - most recent fiscal year | 17.862 |
| Revenue/share - trailing 12 month | 17.862 |
| Book value per share - most recent fiscal year | 47.077 |
| Book value per share - most recent half-year | 47.077 |
| Book value (tangible) per share - most recent fiscal year | 41.983 |
| Book value (tangible) per share - most recent half-year | 41.983 |
| Cash per share - most recent fiscal year | 29.698 |
| Cash per share - most recent half-year | 29.698 |
| Cash Flow per share - most recent fiscal year | -3.885 |
| Cash Flow per share - trailing 12 month | -3.885 |
| Dividend per share - most recent fiscal year | 5.050 |
| Dividends per share - trailing 12 month | 5.050 |
| EBITD per share - trailing 12 month | — |
| EPS Basic excluding extraordinary items - most recent fiscal year | 6.526 |
| EPS Basic excluding extraordinary items - trailing 12 month | 6.526 |
| EPS including extraordinary items - most recent fiscal year | 6.499 |
| EPS including extraordinary items - trailing 12 month | 6.499 |
| Free Cash Flow per share - trailing 12 month | -5.103 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | 25.53 |
| P/E Normalized, most recent fiscal year | 25.36 |
| Price to sales - most recent fiscal year | 9.32 |
| Price to Tangible Book - most fiscal year | 3.96 |
| Price to Free Cash Flow per Share - most recent fiscal year | — |
| Price to Cash Flow per share - trailing 12 month | — |
| Price to Book - most recent fiscal year | 3.53 |
| P/E excluding extraordinary items high, trailing 12 months | 29.54 |
| P/E excluding extraordinary items low, trailing 12 months | 22.73 |
| Net Debt, LFI | 1,100,083.00 |
| Net Debt, LFY | 1,238,928.00 |
| Dividend Yield - 5 Year Average | 3.42% |
| Dividend Yield - indicated annual dividend divided by closing price | 3.12% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 3.04% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | -8,543.00 |
| LT debt/equity - most recent fiscal year | — |
| Payout ratio - most recent fiscal year | 77.81% |
| Total debt/total equity - most recent fiscal year | 1,637.25% |
| LT debt/equity - most recent half-year | — |
| Total debt/total equity - most recent half-year | 1,540.80% |
| Free Cash Flow - trailing 12 month | -8,543.00 |
| Payout ratio - trailing 12 month | 77.81% |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 29,901.00 |
| Revenue - trailing 12 month | 29,901.00 |
| EBITD - most recent fiscal year | — |
| EBITD - trailing 12 month | — |
| Earnings before taxes - most recent fiscal year | 15,580.00 |
| Earnings before taxes - trailing 12 month | 15,580.00 |
| Net Income available to common - most recent fiscal year | 10,866.00 |
| Net Income available to common - trailing 12 months | 10,866.00 |
| Earnings before taxes Normalized - most recent fiscal year | 15,604.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | 10,982.00 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 6.56 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | 36.49% |
| Net Profit Margin % - trailing 12 month | 36.49% |
| Operating margin - 1st historical fiscal year | — |
| Operating margin - trailing 12 month | — |
| Pretax margin - trailing 12 month | 52.11% |
| Pretax margin - 1st historical fiscal year | 52.11% |
| Operating Margin - 5 year average | — |
| Pretax Margin - 5 year average | 52.70% |
| Free Operating Cash Flow/Revenue, 5 Year Average | -15.73% |
| Free Operating Cash Flow/Revenue, TTM | -28.57% |
| Net Profit Margin - 5 year average | 36.90% |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | 0.78% |
| Return on average assets - trailing 12 month | 0.78% |
| Return on average equity - most recent fiscal year | 13.95% |
| Return on average equity - trailing 12 month | 13.95% |
| Return on average assets - 5 year average | 0.80% |
| Return on average equity - 5 year average | 13.42% |
| Net Income/employee - most recent fiscal year | 210,987.35 |
| Revenue/employee - most recent fiscal year | 578,199.33 |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | 5.11% |
| EPS growth rate, 5 year | 3.76% |
| Growth rate% - dividend, 3 year | 5.63% |
| Revenue/share (5 yr growth) | 8.19% |
| Growth rate% - Revenue, 3 year | 3.74% |
| Growth rate% - EPS, 3 year | 3.90% |
| Book value per share growth rate, 5 year | 1.18% |
| Capital Spending growth rate, 5 year | 21.61% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | ||||||
| Estimate breakdown | ||||||||
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
Commonwealth Bank (CBA) $156.44
Australia's largest bank has been under pressure on valuation grounds over the last year, but since its on-the-surface solid FY26 result, covered here, this once bastion of safety has significantly underperformed the market.
Commonwealth Bank (CBA) $173.92
This morning, CBA delivered a solid FY26 result, with cash earnings modestly ahead of expectations, margins holding up better than feared and returns improving. The numbers reinforce why CBA continues to trade at a premium to the other major banks.
Commonwealth Bank (ASX: CBA) $174.27
Attention now turns to Commonwealth Bank’s FY26 result on Wednesday, with consensus expecting profit growth of around 6%. CBA remains one of the world’s most expensive major banks, trading on 26.1x forward earnings and 3.77x book value. That represents a substantial premium to domestic peers NAB (17.0x), Westpac (16.8x) and ANZ (14.8x), as well as leading global banks such as JPMorgan (14.7x) and RBC (17.0x). Both valuation measures sit more than two standard deviations above CBA’s long-term averages, highlighting just how much investors are currently prepared to pay for Australia’s premier banking franchise.
BHP Group (ASX: BHP) v Commonwealth Bank (ASX: CBA)
While CBA captured the news yesterday for all the wrong reasons, BHP again made new all-time highs, trading above $62 for the first time as copper continued to rally. As a sidenote, the game of musical chairs between BHP and CBA continued on Wednesday, with the “Big Australian” as BHP was referred to on the old trading floors reclaimed top spot as the ASX’s largest company after a session which saw a more than 13% difference in performance.
Commonwealth Bank (ASX:CBA) $153.67
CBA –10.43%: was whacked today after its 3Q update highlighted rising provisions and a more cautious macro-outlook, amplified by concerns around negative gearing and the implications for housing credit growth.
Commonwealth Bank (ASX:CBA) $171.90
If we are correct and the ASX is going to test/make new highs in 2026, a call many find it hard to imagine, CBA will likely come along for the ride. Australia’s largest bank delivered a strong 1H result in February Here which saw the stock surge ~12% in 2-days, a huge move for such a stock let alone bank of its size.
Commonwealth Bank of Australia (CBA) $169.56
CBA is a world-class bank, but it's often accompanied by the unattractive tag of being the world's most expensive - but yesterday’s result demonstrated why. There was plenty to like in CBAs report from its giant $5.4bn profit as it cemented its dominant market position by holding its market share in the home loan market at over 25% while also increasing household deposits by 26.6%.
Commonwealth Bank (CBA) $158.74
CBA delivered a solid 1H result this morning, beating consensus on cash profit and lifting the interim dividend, with volume growth and improving credit quality offsetting margin pressure and higher costs. Net interest margin held at 2.04%, while ROE improved to 13.8%, reinforcing CBA’s earnings resilience despite competitive home lending conditions.
Commonwealth Bank (CBA) $155.79
The CBA bears have been crowing of late and we’re glad to have exited our position in the Income Portfolio in July ~$180. CBAs recent September quarter trading update went down badly due to margin pressure despite solid profit growth and healthy lending momentum, plus of course it’s expensive.
Action
Updated
18/09/2026
09:46
CBA
Updated 18/09/2026 09:46
MM is neutral to cautiously bullish towards CBA around $154
Updated
21/08/2026
10:51
CBA
Updated 21/08/2026 10:51
MM is neutral towards CBA around $156
Updated
12/08/2026
09:41
CBA
Updated 12/08/2026 09:41
MM is neutral on CBA ~$174
Updated
11/08/2026
09:42
CBA
Updated 11/08/2026 09:42
MM is neutral towards CBA around $174
Updated
13/05/2026
17:16
CBA
Updated 13/05/2026 17:16
MM is neutral toward CBA
Updated
02/04/2026
09:56
CBA
Updated 02/04/2026 09:56
MM is bullish towards CBA around $172
Updated
12/02/2026
18:18
CBA
Updated 12/02/2026 18:18
MM is now bullish towards CBA around $170
Updated
11/02/2026
09:51
CBA
Updated 11/02/2026 09:51
MM has turned positive CBA ~$159 given recent underperformance
Updated
19/11/2025
08:25
CBA
Updated 19/11/2025 08:25
MM is neutral towards CBA ~$155
Updated
12/11/2025
17:10
CBA
Updated 12/11/2025 17:10
MM remains neutral towards CBA
Business Summary
Commonwealth Bank is Australia's largest bank with operations spanning Australia, New Zealand, and Asia. Its core business is the provision of retail, business, and institutional banking services. The bank has emphasized its focus on banking in recent years with a numbers of asset divestments in wealth management and insurance.
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