Comerica (CMA) Financials

$80.23 +0.37 (+0.46%)

Closing price 10/9/2025 03:59 PM Eastern

Extended Trading

$80.10 -0.13 (-0.16%)

As of 10/9/2025 07:09 PM Eastern

Annual Income Statements for Comerica

This table shows Comerica's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	515	473	738	1,227	1,195	482	1,140	1,122	854	671
Consolidated Net Income / (Loss)	521	477	743	1,235	1,202	497	1,168	1,151	881	698
Net Income / (Loss) Continuing Operations	521	477	743	1,235	1,202	497	1,168	1,151	881	698
Total Pre-Tax Income	750	670	1,234	1,535	1,538	621	1,490	1,476	1,144	888
Total Revenue	2,724	2,848	3,168	3,328	3,349	2,912	2,967	3,534	3,592	3,244
Net Interest Income / (Expense)	1,689	1,797	2,061	2,352	2,339	1,911	1,844	2,466	2,514	2,190
Total Interest Income	1,784	1,909	2,182	2,619	2,807	2,093	1,901	2,672	4,175	3,939
Loans and Leases Interest Income	1,551	1,635	1,872	2,262	2,439	1,773	1,594	2,153	3,340	3,204
Investment Securities Interest Income	216	247	250	265	297	291	280	414	430	402
Other Interest Income	17	27	60	92	71	29	27	105	405	333
Total Interest Expense	95	112	121	267	468	182	57	206	1,661	1,749
Deposits Interest Expense	43	40	42	122	262	101	22	102	892	1,238
Short-Term Borrowings Interest Expense	0.00	0.00	3.00	1.00	9.00	1.00	0.00	17	391	48
Long-Term Debt Interest Expense	52	72	76	144	197	80	35	87	378	463
Total Non-Interest Income	1,035	1,051	1,107	976	1,010	1,001	1,123	1,068	1,078	1,054
Trust Fees by Commissions	204	19	23	27	28	21	14	21	30	51
Service Charges on Deposit Accounts	-	219	227	211	203	185	195	195	185	184
Other Service Charges	753	539	571	465	463	475	494	418	435	432
Net Realized & Unrealized Capital Gains on Investments	38	42	45	28	69	67	146	154	147	-19
Other Non-Interest Income	40	232	241	245	247	253	274	280	281	406
Provision for Credit Losses	147	248	74	-1.00	74	537	-384	60	89	49
Total Non-Interest Expense	1,827	1,930	1,860	1,794	1,737	1,754	1,861	1,998	2,359	2,307
Salaries and Employee Benefits	1,009	989	961	1,009	1,020	1,019	1,133	1,208	1,306	1,352
Net Occupancy & Equipment Expense	212	210	199	200	204	205	211	225	221	233
Marketing Expense	24	21	28	30	34	35	35	38	40	41
Property & Liability Insurance Claims	37	54	51	42	23	33	22	31	180	76
Other Operating Expenses	545	563	576	460	456	462	460	496	612	605
Income Tax Expense	229	193	491	300	336	124	322	325	263	190
Preferred Stock Dividends Declared	6.00	4.00	5.00	8.00	7.00	15	28	29	27	27
Basic Earnings per Share	$2.93	$2.74	$4.23	$7.31	$7.98	$3.45	$8.45	$8.56	$6.47	$5.06
Weighted Average Basic Shares Outstanding	176M	172M	174M	168M	141.35M	139.29M	131.08M	131.35M	132.49M	131.35M
Diluted Earnings per Share	$2.84	$2.68	$4.14	$7.20	$7.90	$3.43	$8.35	$8.47	$6.44	$5.02
Weighted Average Diluted Shares Outstanding	176M	172M	174M	168M	141.35M	139.29M	131.08M	131.35M	132.49M	131.35M
Weighted Average Basic & Diluted Shares Outstanding	176M	172M	174M	168M	141.35M	139.29M	131.08M	131.35M	132.49M	131.35M
Cash Dividends to Common per Share	$0.83	$0.89	$1.09	$1.84	$2.68	$2.72	$2.72	$2.72	$2.84	$2.84

This table shows Comerica's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	343	342	317	266	244	27	131	200	177	163	165
Consolidated Net Income / (Loss)	351	350	324	273	251	33	138	206	184	170	172
Net Income / (Loss) Continuing Operations	351	350	324	273	251	33	138	206	184	170	172
Total Pre-Tax Income	455	446	409	356	327	52	167	269	235	217	225
Total Revenue	985	1,020	990	924	896	782	784	824	811	825	829
Net Interest Income / (Expense)	707	742	708	621	601	584	548	533	534	575	575
Total Interest Income	750	876	949	1,074	1,103	1,049	1,019	971	982	967	924
Loans and Leases Interest Income	597	719	777	852	862	849	808	803	798	795	759
Investment Securities Interest Income	119	118	113	108	105	104	102	101	99	100	109
Other Interest Income	34	39	59	114	136	96	109	67	85	72	56
Total Interest Expense	43	134	241	453	502	465	471	438	448	392	349
Deposits Interest Expense	16	78	118	201	271	302	317	305	330	286	252
Short-Term Borrowings Interest Expense	1.00	16	66	142	125	58	37	9.00	1.00	1.00	2.00
Long-Term Debt Interest Expense	26	40	57	110	106	105	117	124	117	105	95
Total Non-Interest Income	278	278	282	303	295	198	236	291	277	250	254
Trust Fees by Commissions	6.00	7.00	8.00	8.00	6.00	8.00	10	14	13	14	14
Service Charges on Deposit Accounts	50	47	46	47	47	45	45	46	46	47	46
Other Service Charges	104	125	121	133	136	45	90	125	110	107	91
Net Realized & Unrealized Capital Gains on Investments	-	-	-	-	-	-	-	-	-	-	11
Other Non-Interest Income	118	-55	107	115	106	-47	91	106	108	101	92
Provision for Credit Losses	28	33	30	33	14	12	14	0.00	14	21	20
Total Non-Interest Expense	502	541	551	535	555	718	603	555	562	587	584
Salaries and Employee Benefits	307	318	326	306	315	359	348	323	335	346	368
Net Occupancy & Equipment Expense	56	67	53	53	56	59	56	57	59	61	59
Marketing Expense	9.00	14	8.00	10	12	10	8.00	12	10	11	8.00
Property & Liability Insurance Claims	8.00	7.00	13	16	19	132	36	19	11	10	14
Other Operating Expenses	122	135	151	150	153	158	155	144	147	159	135
Income Tax Expense	104	96	85	83	76	19	29	63	51	47	53
Preferred Stock Dividends Declared	8.00	8.00	7.00	7.00	7.00	6.00	7.00	6.00	7.00	7.00	7.00
Basic Earnings per Share	$2.63	$2.60	$2.41	$2.02	$1.85	$0.19	$0.99	$1.50	$1.34	$1.23	$1.26
Weighted Average Basic Shares Outstanding	130.95M	131.35M	131.67M	131.78M	131.87M	132.49M	132.59M	132.67M	131.51M	131.35M	131.41M
Diluted Earnings per Share	$2.60	$2.58	$2.39	$2.01	$1.84	$0.20	$0.98	$1.49	$1.33	$1.22	$1.25
Weighted Average Diluted Shares Outstanding	130.95M	131.35M	131.67M	131.78M	131.87M	132.49M	132.59M	132.67M	131.51M	131.35M	131.41M
Weighted Average Basic & Diluted Shares Outstanding	130.95M	131.35M	131.67M	131.78M	131.87M	132.49M	132.59M	132.67M	131.51M	131.35M	131.41M
Cash Dividends to Common per Share	$0.68	$0.68	$0.71	$0.71	$0.71	$0.71	$0.71	$0.71	$0.71	$0.71	$0.71

This table details how cash moves in and out of Comerica's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	76	1,071	-1,373	-1,284	1,257	9,949	6,912	-16,397	3,220	-2,698
Net Cash From Operating Activities	865	486	1,085	1,616	1,090	928	634	638	1,251	601
Net Cash From Continuing Operating Activities	865	486	1,085	1,616	1,090	928	634	638	1,251	601
Net Income / (Loss) Continuing Operations	521	477	743	1,235	1,202	497	1,168	1,151	881	698
Consolidated Net Income / (Loss)	521	477	743	1,235	1,202	497	1,168	1,151	881	698
Provision For Loan Losses	147	248	74	-1.00	74	537	-384	60	89	49
Depreciation Expense	118	121	121	120	114	108	99	92	87	96
Amortization Expense	13	8.00	6.00	3.00	2.00	15	36	30	19	7.00
Non-Cash Adjustments to Reconcile Net Income	8.00	-15	97	72	26	-114	39	-60	-103	8.00
Changes in Operating Assets and Liabilities, net	58	-353	44	187	-328	-115	-324	-635	278	-257
Net Cash From Investing Activities	-3,255	-254	-120	-1,156	-494	-4,602	1,723	-9,952	3,494	3,261
Net Cash From Continuing Investing Activities	-3,255	-254	-120	-1,156	-494	-4,786	1,723	-9,952	3,494	3,261
Purchase of Investment Securities	-5,234	-2,296	-3,329	-4,118	-3,871	-7,991	-3,869	-12,425	761	-431
Sale and/or Maturity of Investments	2,098	2,137	3,278	3,054	3,461	3,375	5,675	2,553	2,559	3,845
Other Investing Activities, net	-119	-95	-69	-92	-84	14	-83	-80	174	-153
Net Cash From Financing Activities	2,466	839	-2,338	-1,744	661	13,623	4,555	-7,083	-1,525	-6,560
Net Cash From Continuing Financing Activities	2,466	839	-2,338	-1,744	661	12,835	4,555	-7,083	-1,525	-6,560
Net Change in Deposits	2,529	-998	-1,180	-2,082	1,711	15,554	8,438	-10,401	-4,634	-3,003
Issuance of Debt	923	2,802	0.00	1,884	1,077	0.00	0.00	500	4,000	-2,565
Issuance of Common Equity	22	157	118	52	18	4.00	34	28	18	22
Repayment of Debt	-606	-650	-531	0.00	-350	-1,746	-2,800	3,211	-496	-500
Repurchase of Common Equity	-250	-320	-560	-1,338	-1,394	-199	-729	-43	-17	-100
Payment of Dividends	-147	-152	-180	-263	-402	-383	-392	-376	-394	-400
Other Financing Activities, Net	-5.00	0.00	-5.00	3.00	1.00	-1.00	4.00	-2.00	-2.00	-14
Cash Interest Paid	94	111	122	261	462	203	57	130	1,449	1,892
Cash Income Taxes Paid	88	151	336	200	266	141	157	277	317	101

This table details how cash moves in and out of Comerica's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-1,563	312	4,452	-511	-2,111	1,390	-4,367	-323	1,581	411	-1,012
Net Cash From Operating Activities	393	597	462	-155	-178	1,122	-205	111	1,049	-354	273
Net Cash From Continuing Operating Activities	393	597	462	-155	-178	1,122	-205	111	1,049	-354	273
Net Income / (Loss) Continuing Operations	351	350	324	273	251	33	138	206	184	170	172
Consolidated Net Income / (Loss)	351	350	324	273	251	33	138	206	184	170	172
Provision For Loan Losses	28	33	30	33	14	12	14	-	14	21	20
Depreciation Expense	25	21	20	22	22	23	22	25	23	26	25
Amortization Expense	6.00	6.00	5.00	5.00	5.00	4.00	4.00	2.00	2.00	-1.00	-10
Non-Cash Adjustments to Reconcile Net Income	-22	-7.00	12	-6.00	-29	-80	8.00	2.00	12	-14	23
Changes in Operating Assets and Liabilities, net	5.00	194	71	-482	-441	1,130	-391	-124	814	-556	43
Net Cash From Investing Activities	-289	-1,424	-1,006	-139	2,924	1,715	1,739	-568	1,837	253	913
Net Cash From Continuing Investing Activities	-289	-1,424	-1,006	-139	2,924	1,715	1,739	-568	1,837	253	913
Purchase of Investment Securities	-835	-1,921	-2,028	-837	2,346	1,280	1,241	-1,458	1,096	-1,310	588
Sale and/or Maturity of Investments	564	519	1,023	672	420	444	392	586	1,269	1,598	290
Other Investing Activities, net	-18	-22	-1.00	26	158	-9.00	106	304	-528	-35	35
Net Cash From Financing Activities	-1,667	1,139	4,996	-217	-4,857	-1,447	-5,901	134	-1,305	512	-2,198
Net Cash From Continuing Financing Activities	-1,667	1,139	4,996	-217	-4,853	-1,451	-5,901	134	-1,307	514	-2,198
Net Change in Deposits	-2,585	-1,470	-6,702	1,336	837	-105	-3,225	-1,022	542	702	-2,264
Issuance of Debt	1,008	-508	4,000	-	-	-	1,000	-	-3,565	-	0.00
Issuance of Common Equity	6.00	1.00	2.00	5.00	2.00	9.00	-1.00	5.00	1.00	17	4.00
Repayment of Debt	-	3,211	7,805	-1,458	-5,596	-1,247	-3,565	1,250	1,815	-	225
Repurchase of Common Equity	-3.00	-	-15	-1.00	-	-1.00	-12	-1.00	-	-87	-63
Payment of Dividends	-94	-93	-94	-99	-98	-103	-98	-98	-99	-105	-99
Other Financing Activities, Net	1.00	-2.00	-	-	-	-4.00	-	-	-	-13	-1.00
Cash Interest Paid	27	75	194	344	467	444	541	484	464	403	369
Cash Income Taxes Paid	80	95	11	161	83	62	4.00	58	15	24	5.00

This table presents Comerica's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	71,877	72,978	71,567	70,818	73,402	88,129	94,616	85,406	85,834	79,297
Cash and Due from Banks	1,157	1,249	1,438	1,390	973	1,031	1,236	1,758	1,443	850
Interest Bearing Deposits at Other Banks	4,990	5,969	4,407	3,171	4,845	14,736	21,443	4,524	8,059	5,954
Trading Account Securities	12,500	12,369	12,204	12,045	12,398	15,028	16,986	19,012	16,869	15,045
Loans and Leases, Net of Allowance	48,450	48,358	48,461	49,492	49,732	51,343	48,697	52,792	50,618	49,849
Loans and Leases	49,084	49,088	49,173	50,163	50,369	52,291	49,285	53,402	51,306	50,539
Allowance for Loan and Lease Losses	634	730	712	671	637	948	588	610	688	690
Premises and Equipment, Net	550	501	466	475	457	459	454	400	445	473
Other Assets	4,230	4,532	4,591	4,245	4,997	5,532	5,800	6,920	8,400	7,126
Total Liabilities & Shareholders' Equity	71,877	72,978	71,567	70,818	73,402	88,129	94,616	85,406	85,834	79,297
Total Liabilities	64,317	65,182	63,604	63,311	66,075	80,079	86,719	80,225	79,428	72,754
Non-Interest Bearing Deposits	30,839	31,540	32,071	28,690	57,295	39,420	45,800	39,945	27,849	24,425
Interest Bearing Deposits	29,014	27,445	25,832	26,871	29,913	33,449	36,539	31,452	38,913	39,386
Short-Term Debt	23	25	10	44	71	-	0.00	3,211	3,565	0.00
Long-Term Debt	3,058	5,160	4,622	6,463	7,269	5,728	2,796	3,024	6,206	6,673
Other Long-Term Liabilities	1,383	1,012	1,069	1,243	-28,473	1,482	1,584	2,593	2,895	2,270
Total Equity & Noncontrolling Interests	7,560	7,796	7,963	7,507	7,327	8,050	7,897	5,181	6,406	6,543
Total Preferred & Common Equity	7,560	7,796	7,963	7,507	7,327	8,050	7,897	5,181	6,406	6,543
Preferred Stock	-	-	-	-	0.00	394	394	394	394	394
Total Common Equity	7,560	7,796	7,963	7,507	7,327	7,656	7,503	4,787	6,012	6,149
Common Stock	3,314	3,276	3,263	3,289	3,315	3,326	3,316	3,361	3,365	3,359
Retained Earnings	7,084	7,331	7,887	8,781	9,538	9,727	10,494	11,258	11,727	12,017
Treasury Stock	-2,409	-2,428	-2,736	-3,954	-5,291	-5,461	-6,095	-6,090	-6,032	-6,066
Accumulated Other Comprehensive Income / (Loss)	-429	-383	-451	-609	-235	64	-212	-3,742	-3,048	-3,161

This table presents Comerica's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	84,143	85,406	91,127	90,761	85,706	85,834	79,444	79,597	79,663	79,297	77,622
Cash and Due from Banks	1,735	1,758	1,563	1,413	1,228	1,443	689	719	870	850	1,083
Interest Bearing Deposits at Other Banks	4,235	4,524	9,171	8,810	6,884	8,059	4,446	4,093	5,523	5,954	4,709
Trading Account Securities	19,452	19,012	18,295	17,415	16,323	16,869	16,246	15,656	15,886	15,045	15,102
Loans and Leases, Net of Allowance	51,136	52,792	54,285	55,080	52,704	50,618	50,131	51,164	49,831	49,849	48,495
Loans and Leases	51,712	53,402	54,926	55,764	53,398	51,306	50,822	51,850	50,517	50,539	49,178
Allowance for Loan and Lease Losses	576	610	641	684	694	688	691	686	686	690	683
Premises and Equipment, Net	412	400	399	397	410	445	462	474	476	473	447
Other Assets	7,173	6,920	7,414	7,646	8,157	8,400	7,470	7,491	7,077	7,126	7,786
Total Liabilities & Shareholders' Equity	84,143	85,406	91,127	90,761	85,706	85,834	79,444	79,597	79,663	79,297	77,622
Total Liabilities	79,074	80,225	85,133	85,166	80,734	79,428	73,394	73,436	72,297	72,754	70,570
Non-Interest Bearing Deposits	42,296	39,945	33,173	31,067	29,922	27,849	25,833	24,522	23,819	24,425	23,156
Interest Bearing Deposits	30,720	31,452	31,533	34,948	37,236	38,913	37,745	37,937	39,258	39,386	38,349
Short-Term Debt	508	3,211	11,016	9,558	4,812	3,565	0.00	1,250	0.00	0.00	1,225
Long-Term Debt	3,016	3,024	7,084	6,961	6,049	6,206	7,121	7,112	6,786	6,673	5,733
Other Long-Term Liabilities	2,534	2,593	2,327	2,632	2,715	2,895	2,695	2,615	2,434	2,270	2,107
Total Equity & Noncontrolling Interests	5,069	5,181	5,994	5,595	4,972	6,406	6,050	6,161	7,366	6,543	7,052
Total Preferred & Common Equity	5,069	5,181	5,994	5,595	4,972	6,406	6,050	6,161	7,366	6,543	7,052
Preferred Stock	394	394	394	394	394	394	394	394	394	394	394
Total Common Equity	4,675	4,787	5,600	5,201	4,578	6,012	5,656	5,767	6,972	6,149	6,658
Common Stock	3,350	3,361	3,350	3,353	3,361	3,365	3,343	3,351	3,358	3,359	3,339
Retained Earnings	11,005	11,258	11,476	11,648	11,796	11,727	11,765	11,867	11,949	12,017	12,093
Treasury Stock	-6,093	-6,090	-6,055	-6,044	-6,039	-6,032	-5,995	-5,988	-5,980	-6,066	-6,079
Accumulated Other Comprehensive Income / (Loss)	-3,587	-3,742	-3,171	-3,756	-4,540	-3,048	-3,457	-3,463	-2,355	-3,161	-2,695

This table displays calculated financial ratios and metrics derived from Comerica's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.44%	4.55%	11.24%	5.05%	0.63%	-13.05%	1.89%	19.11%	1.64%	-9.69%
EBITDA Growth	-12.43%	-9.31%	70.34%	21.82%	-0.24%	-55.02%	118.41%	-1.66%	-21.78%	-20.72%
EBIT Growth	-13.79%	-10.67%	84.18%	24.39%	0.20%	-59.62%	139.94%	-0.94%	-22.49%	-22.38%
NOPAT Growth	-12.14%	-8.45%	55.77%	66.22%	-2.67%	-58.65%	135.01%	-1.46%	-23.46%	-20.77%
Net Income Growth	-12.14%	-8.45%	55.77%	66.22%	-2.67%	-58.65%	135.01%	-1.46%	-23.46%	-20.77%
EPS Growth	-10.13%	-5.63%	54.48%	73.91%	9.72%	-56.58%	143.44%	1.44%	-23.97%	-22.05%
Operating Cash Flow Growth	35.37%	-43.82%	123.25%	48.94%	-32.55%	-14.86%	-31.68%	0.63%	96.08%	-51.96%
Free Cash Flow Firm Growth	-94.58%	-2,652.05%	160.60%	-116.30%	398.37%	152.46%	206.85%	-89.94%	-1,006.54%	194.30%
Invested Capital Growth	4.40%	21.99%	-2.97%	11.27%	4.66%	-6.06%	-22.39%	6.76%	41.70%	-18.30%
Revenue Q/Q Growth	2.60%	0.85%	3.53%	1.03%	-1.59%	-2.54%	0.54%	8.27%	-6.21%	1.34%
EBITDA Q/Q Growth	-7.07%	9.60%	8.27%	4.34%	-2.53%	-8.26%	0.12%	10.44%	-23.97%	19.69%
EBIT Q/Q Growth	-7.64%	11.48%	9.20%	4.78%	-2.72%	-10.26%	0.20%	11.90%	-25.62%	22.82%
NOPAT Q/Q Growth	-5.96%	11.19%	-6.54%	19.09%	-2.99%	-9.47%	0.60%	11.86%	-26.46%	24.42%
Net Income Q/Q Growth	-5.96%	11.19%	-6.54%	19.09%	-2.99%	-9.47%	0.60%	11.86%	-26.46%	24.42%
EPS Q/Q Growth	-5.65%	11.67%	-6.33%	20.81%	0.13%	-9.50%	2.08%	11.59%	-26.98%	25.50%
Operating Cash Flow Q/Q Growth	17.37%	-19.54%	16.17%	34.44%	-28.20%	-1.38%	53.51%	35.74%	72.31%	-71.06%
Free Cash Flow Firm Q/Q Growth	170.37%	21.36%	-9.24%	-159.15%	-43.11%	-5.91%	2.26%	-86.09%	35.78%	63.20%
Invested Capital Q/Q Growth	-1.75%	-4.75%	-4.44%	-1.92%	0.72%	1.03%	0.50%	32.85%	2.17%	-6.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	32.34%	28.05%	42.96%	49.82%	49.39%	25.55%	54.77%	45.22%	34.80%	30.55%
EBIT Margin	27.53%	23.53%	38.95%	46.12%	45.92%	21.33%	50.22%	41.77%	31.85%	27.37%
Profit (Net Income) Margin	19.13%	16.75%	23.45%	37.11%	35.89%	17.07%	39.37%	32.57%	24.53%	21.52%
Tax Burden Percent	69.47%	71.19%	60.21%	80.46%	78.15%	80.03%	78.39%	77.98%	77.01%	78.60%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	30.53%	28.81%	39.79%	19.54%	21.85%	19.97%	21.61%	22.02%	22.99%	21.40%
Return on Invested Capital (ROIC)	5.00%	4.04%	5.81%	9.28%	8.38%	3.49%	9.55%	10.41%	6.39%	4.75%
ROIC Less NNEP Spread (ROIC-NNEP)	5.00%	4.04%	5.81%	9.28%	8.38%	3.49%	9.55%	10.41%	6.39%	4.75%
Return on Net Nonoperating Assets (RNNOA)	1.96%	2.17%	3.62%	6.68%	7.82%	2.97%	5.10%	7.19%	8.82%	6.03%
Return on Equity (ROE)	6.96%	6.21%	9.43%	15.97%	16.21%	6.46%	14.65%	17.60%	15.21%	10.78%
Cash Return on Invested Capital (CROIC)	0.70%	-15.77%	8.83%	-1.38%	3.83%	9.75%	34.76%	3.87%	-28.12%	24.90%
Operating Return on Assets (OROA)	1.06%	0.93%	1.71%	2.16%	2.13%	0.77%	1.63%	1.64%	1.34%	1.08%
Return on Assets (ROA)	0.74%	0.66%	1.03%	1.73%	1.67%	0.62%	1.28%	1.28%	1.03%	0.85%
Return on Common Equity (ROCE)	6.96%	6.21%	9.43%	15.97%	16.21%	6.30%	13.92%	16.54%	14.17%	10.12%
Return on Equity Simple (ROE_SIMPLE)	6.89%	6.12%	9.33%	16.45%	16.41%	6.17%	14.79%	22.22%	13.75%	10.67%
Net Operating Profit after Tax (NOPAT)	521	477	743	1,235	1,202	497	1,168	1,151	881	698
NOPAT Margin	19.13%	16.75%	23.45%	37.11%	35.89%	17.07%	39.37%	32.57%	24.53%	21.52%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	45.70%	42.84%	37.50%	37.23%	37.56%	43.23%	46.48%	41.62%	43.62%	50.12%
Operating Expenses to Revenue	67.07%	67.77%	58.71%	53.91%	51.87%	60.23%	62.72%	56.54%	65.67%	71.12%
Earnings before Interest and Taxes (EBIT)	750	670	1,234	1,535	1,538	621	1,490	1,476	1,144	888
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	881	799	1,361	1,658	1,654	744	1,625	1,598	1,250	991
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.73	1.14	1.46	1.16	1.15	0.89	1.38	1.63	1.16	1.32
Price to Tangible Book Value (P/TBV)	0.73	1.14	1.46	1.16	1.15	0.89	1.38	1.63	1.16	1.32
Price to Revenue (P/Rev)	2.02	3.13	3.67	2.63	2.52	2.33	3.49	2.21	1.95	2.51
Price to Earnings (P/E)	10.70	18.84	15.77	7.13	7.08	14.08	9.07	6.96	8.18	12.12
Dividend Yield	2.66%	1.72%	1.63%	3.40%	4.57%	5.57%	3.45%	4.56%	5.36%	4.59%
Earnings Yield	9.35%	5.31%	6.34%	14.03%	14.13%	7.10%	11.02%	14.38%	12.22%	8.25%
Enterprise Value to Invested Capital (EV/IC)	0.23	0.53	0.83	0.76	0.68	0.00	0.00	0.71	0.47	0.64
Enterprise Value to Revenue (EV/Rev)	0.90	2.42	3.29	3.21	2.98	0.00	0.00	2.31	2.13	2.59
Enterprise Value to EBITDA (EV/EBITDA)	2.77	8.61	7.66	6.45	6.03	0.00	0.00	5.10	6.12	8.47
Enterprise Value to EBIT (EV/EBIT)	3.26	10.27	8.45	6.96	6.49	0.00	0.00	5.52	6.69	9.46
Enterprise Value to NOPAT (EV/NOPAT)	4.69	14.42	14.03	8.66	8.30	0.00	0.00	7.08	8.68	12.03
Enterprise Value to Operating Cash Flow (EV/OCF)	2.82	14.15	9.61	6.62	9.15	0.00	0.00	12.78	6.11	13.97
Enterprise Value to Free Cash Flow (EV/FCFF)	33.47	0.00	9.23	0.00	18.17	0.00	0.00	19.04	0.00	2.29
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.41	0.67	0.58	0.87	1.00	0.71	0.35	1.20	1.53	1.02
Long-Term Debt to Equity	0.40	0.66	0.58	0.86	0.99	0.71	0.35	0.58	0.97	1.02
Financial Leverage	0.39	0.54	0.62	0.72	0.93	0.85	0.53	0.69	1.38	1.27
Leverage Ratio	9.43	9.43	9.17	9.20	9.72	10.50	11.46	13.77	14.78	12.75
Compound Leverage Factor	9.43	9.43	9.17	9.20	9.72	10.50	11.46	13.77	14.78	12.75
Debt to Total Capital	28.95%	39.94%	36.78%	46.43%	50.04%	41.57%	26.15%	54.62%	60.40%	50.49%
Short-Term Debt to Total Capital	0.22%	0.19%	0.08%	0.31%	0.48%	0.00%	0.00%	28.13%	22.04%	0.00%
Long-Term Debt to Total Capital	28.74%	39.75%	36.70%	46.12%	49.56%	41.57%	26.15%	26.49%	38.36%	50.49%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	2.86%	3.68%	3.45%	2.44%	2.98%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	71.05%	60.06%	63.22%	53.57%	49.96%	55.57%	70.17%	41.93%	37.16%	46.53%
Debt to EBITDA	3.50	6.49	3.40	3.92	4.44	7.70	1.72	3.90	7.82	6.73
Net Debt to EBITDA	-3.48	-2.54	-0.89	1.17	0.92	-13.49	-12.24	-0.03	0.22	-0.13
Long-Term Debt to EBITDA	3.47	6.46	3.40	3.90	4.39	7.70	1.72	1.89	4.96	6.73
Debt to NOPAT	5.91	10.87	6.23	5.27	6.11	11.53	2.39	5.42	11.09	9.56
Net Debt to NOPAT	-5.88	-4.26	-1.63	1.58	1.27	-20.20	-17.02	-0.04	0.31	-0.19
Long-Term Debt to NOPAT	5.87	10.82	6.22	5.23	6.05	11.53	2.39	2.63	7.04	9.56
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	2.56%	4.94%	6.03%	6.80%	6.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	73	-1,863	1,129	-184	549	1,386	4,253	428	-3,880	3,659
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.77	-16.63	9.33	-0.69	1.17	7.62	74.61	2.08	-2.34	2.09
Operating Cash Flow to Interest Expense	9.11	4.34	8.97	6.05	2.33	5.10	11.12	3.10	0.75	0.34
Operating Cash Flow Less CapEx to Interest Expense	9.11	4.34	8.97	6.05	2.33	5.10	11.12	3.10	0.75	0.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.05	0.05	0.04	0.03	0.04	0.04	0.04
Fixed Asset Turnover	5.04	5.42	6.55	7.07	7.19	6.36	6.50	8.28	8.50	7.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,641	12,981	12,595	14,014	14,667	13,778	10,693	11,416	16,177	13,216
Invested Capital Turnover	0.26	0.24	0.25	0.25	0.23	0.20	0.24	0.32	0.26	0.22
Increase / (Decrease) in Invested Capital	448	2,340	-386	1,419	653	-889	-3,085	723	4,761	-2,961
Enterprise Value (EV)	2,443	6,879	10,424	10,691	9,978	-2,856	-9,148	8,151	7,650	8,397
Market Capitalization	5,509	8,912	11,637	8,745	8,456	6,789	10,341	7,804	6,987	8,134
Book Value per Share	$42.78	$45.26	$45.79	$46.43	$50.83	$55.04	$57.21	$36.56	$45.59	$46.76
Tangible Book Value per Share	$42.78	$45.26	$45.79	$46.43	$50.83	$55.04	$57.21	$36.56	$45.59	$46.76
Total Capital	10,641	12,981	12,595	14,014	14,667	13,778	10,693	11,416	16,177	13,216
Total Debt	3,081	5,185	4,632	6,507	7,340	5,728	2,796	6,235	9,771	6,673
Total Long-Term Debt	3,058	5,160	4,622	6,463	7,269	5,728	2,796	3,024	6,206	6,673
Net Debt	-3,066	-2,033	-1,213	1,946	1,522	-10,039	-19,883	-47	269	-131
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	3,081	5,185	4,632	6,507	7,340	5,728	2,796	6,235	9,771	6,673
Total Depreciation and Amortization (D&A)	131	129	127	123	116	123	135	122	106	103
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.93	$2.74	$4.23	$7.31	$7.95	$3.29	$8.45	$8.56	$6.47	$5.06
Adjusted Weighted Average Basic Shares Outstanding	174.88M	175.86M	172.81M	159.00M	141.35M	139.29M	131.08M	131.35M	132.49M	131.35M
Adjusted Diluted Earnings per Share	$2.84	$2.68	$4.14	$7.20	$7.87	$3.27	$8.35	$8.47	$6.44	$5.02
Adjusted Weighted Average Diluted Shares Outstanding	174.88M	175.86M	172.81M	159.00M	141.35M	139.29M	131.08M	131.35M	132.49M	131.35M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	174.88M	175.86M	172.81M	159.00M	141.35M	139.29M	131.08M	131.35M	132.49M	131.35M
Normalized Net Operating Profit after Tax (NOPAT)	521	543	770	1,278	1,202	497	1,168	1,151	881	698
Normalized NOPAT Margin	19.13%	19.07%	24.31%	38.39%	35.89%	17.07%	39.37%	32.57%	24.53%	21.52%
Pre Tax Income Margin	27.53%	23.53%	38.95%	46.12%	45.92%	21.33%	50.22%	41.77%	31.85%	27.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.89	5.98	10.20	5.75	3.29	3.41	26.14	7.17	0.69	0.51
NOPAT to Interest Expense	5.48	4.26	6.14	4.63	2.57	2.73	20.49	5.59	0.53	0.40
EBIT Less CapEx to Interest Expense	7.89	5.98	10.20	5.75	3.29	3.41	26.14	7.17	0.69	0.51
NOPAT Less CapEx to Interest Expense	5.48	4.26	6.14	4.63	2.57	2.73	20.49	5.59	0.53	0.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.22%	31.87%	24.23%	21.30%	33.44%	77.06%	33.56%	32.67%	44.72%	57.31%
Augmented Payout Ratio	76.20%	98.95%	99.60%	129.64%	149.42%	117.10%	95.98%	36.40%	46.65%	71.63%

This table displays calculated financial ratios and metrics derived from Comerica's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.46%	36.00%	41.43%	11.46%	-9.04%	-23.33%	-20.81%	-10.82%	-9.49%	5.50%	5.74%
EBITDA Growth	32.43%	46.89%	60.15%	4.08%	-27.16%	-83.30%	-55.53%	-22.72%	-26.55%	206.33%	24.35%
EBIT Growth	37.05%	54.33%	71.85%	5.64%	-28.13%	-88.34%	-59.17%	-24.44%	-28.13%	317.31%	34.73%
NOPAT Growth	33.97%	53.51%	71.43%	4.60%	-28.49%	-90.57%	-57.41%	-24.54%	-26.69%	415.15%	24.64%
Net Income Growth	33.97%	53.51%	71.43%	4.60%	-28.49%	-90.57%	-57.41%	-24.54%	-26.69%	415.15%	24.64%
EPS Growth	36.84%	51.76%	74.45%	4.69%	-29.23%	-92.25%	-59.00%	-25.87%	-27.72%	510.00%	27.55%
Operating Cash Flow Growth	94.55%	39.16%	165.07%	-143.30%	-145.29%	87.94%	-144.37%	171.61%	689.33%	-131.55%	233.17%
Free Cash Flow Firm Growth	-26.44%	-111.26%	-1,052.68%	-744.93%	-391.45%	-1,167.56%	178.71%	161.03%	126.68%	166.22%	-106.03%
Invested Capital Growth	-19.24%	6.76%	147.93%	143.95%	84.25%	41.70%	-45.33%	-34.33%	-10.62%	-18.30%	6.37%
Revenue Q/Q Growth	18.82%	3.55%	-2.94%	-6.67%	-3.03%	-12.72%	0.26%	5.10%	-1.58%	1.73%	0.48%
EBITDA Q/Q Growth	32.07%	-2.67%	-8.25%	-11.75%	-7.57%	-77.68%	144.30%	53.37%	-12.16%	-6.92%	-0.83%
EBIT Q/Q Growth	35.01%	-1.98%	-8.30%	-12.96%	-8.15%	-84.10%	221.15%	61.08%	-12.64%	-7.66%	3.69%
NOPAT Q/Q Growth	34.48%	-0.28%	-7.43%	-15.74%	-8.06%	-86.85%	318.18%	49.28%	-10.68%	-7.61%	1.18%
Net Income Q/Q Growth	34.48%	-0.28%	-7.43%	-15.74%	-8.06%	-86.85%	318.18%	49.28%	-10.68%	-7.61%	1.18%
EPS Q/Q Growth	35.42%	-0.77%	-7.36%	-15.90%	-8.46%	-89.13%	390.00%	52.04%	-10.74%	-8.27%	2.46%
Operating Cash Flow Q/Q Growth	9.78%	51.91%	-22.61%	-133.55%	-14.84%	730.34%	-118.27%	154.15%	845.05%	-133.75%	177.12%
Free Cash Flow Firm Q/Q Growth	21.05%	-115.55%	-3,667.29%	9.08%	45.30%	32.35%	333.95%	-29.51%	-76.08%	67.88%	-121.30%
Invested Capital Q/Q Growth	-5.21%	32.85%	111.05%	-8.22%	-28.40%	2.17%	-18.58%	10.27%	-2.55%	-6.61%	6.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	49.34%	46.37%	43.84%	41.45%	39.51%	10.10%	24.62%	35.92%	32.06%	29.33%	28.95%
EBIT Margin	46.19%	43.73%	41.31%	38.53%	36.50%	6.65%	21.30%	32.65%	28.98%	26.30%	27.14%
Profit (Net Income) Margin	35.63%	34.31%	32.73%	29.55%	28.01%	4.22%	17.60%	25.00%	22.69%	20.61%	20.75%
Tax Burden Percent	77.14%	78.48%	79.22%	76.69%	76.76%	63.46%	82.63%	76.58%	78.30%	78.34%	76.44%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	22.86%	21.52%	20.78%	23.31%	23.24%	36.54%	17.37%	23.42%	21.70%	21.66%	23.56%
Return on Invested Capital (ROIC)	12.09%	10.97%	7.40%	7.43%	8.79%	1.10%	3.20%	4.48%	4.84%	4.55%	5.02%
ROIC Less NNEP Spread (ROIC-NNEP)	12.09%	10.97%	7.40%	7.43%	8.79%	1.10%	3.20%	4.48%	4.84%	4.55%	5.02%
Return on Net Nonoperating Assets (RNNOA)	5.98%	7.58%	11.81%	11.82%	12.59%	1.52%	6.70%	9.49%	6.93%	5.78%	5.40%
Return on Equity (ROE)	18.07%	18.54%	19.21%	19.25%	21.37%	2.62%	9.90%	13.98%	11.77%	10.32%	10.42%
Cash Return on Invested Capital (CROIC)	31.99%	3.87%	-77.43%	-75.38%	-49.47%	-28.12%	62.35%	44.87%	14.95%	24.90%	-0.79%
Operating Return on Assets (OROA)	1.69%	1.72%	1.75%	1.70%	1.65%	0.28%	0.85%	1.26%	1.12%	1.03%	1.14%
Return on Assets (ROA)	1.30%	1.35%	1.39%	1.30%	1.26%	0.18%	0.70%	0.96%	0.88%	0.81%	0.87%
Return on Common Equity (ROCE)	16.97%	17.43%	18.05%	17.99%	19.69%	2.44%	9.25%	13.04%	11.02%	9.70%	9.79%
Return on Equity Simple (ROE_SIMPLE)	20.30%	0.00%	21.45%	23.20%	24.09%	0.00%	11.49%	10.19%	7.62%	0.00%	10.38%
Net Operating Profit after Tax (NOPAT)	351	350	324	273	251	33	138	206	184	170	172
NOPAT Margin	35.63%	34.31%	32.73%	29.55%	28.01%	4.22%	17.60%	25.00%	22.69%	20.61%	20.75%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	37.77%	39.12%	39.09%	39.94%	42.75%	54.73%	52.55%	47.57%	49.82%	50.67%	52.47%
Operating Expenses to Revenue	50.96%	53.04%	55.66%	57.90%	61.94%	91.82%	76.91%	67.35%	69.30%	71.15%	70.45%
Earnings before Interest and Taxes (EBIT)	455	446	409	356	327	52	167	269	235	217	225
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	486	473	434	383	354	79	193	296	260	242	240
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.85	1.63	0.96	1.01	1.13	1.16	1.28	1.17	1.14	1.32	1.17
Price to Tangible Book Value (P/TBV)	1.85	1.63	0.96	1.01	1.13	1.16	1.28	1.17	1.14	1.32	1.17
Price to Revenue (P/Rev)	2.65	2.21	1.40	1.34	1.35	1.95	2.14	2.06	2.48	2.51	2.36
Price to Earnings (P/E)	8.64	6.96	4.27	4.15	4.43	8.18	10.86	11.24	14.86	12.12	11.00
Dividend Yield	4.12%	4.56%	6.72%	6.96%	7.14%	5.36%	5.16%	5.56%	4.74%	4.59%	4.81%
Earnings Yield	11.58%	14.38%	23.40%	24.10%	22.55%	12.22%	9.21%	8.90%	6.73%	8.25%	9.09%
Enterprise Value to Invested Capital (EV/IC)	0.77	0.71	0.55	0.54	0.53	0.47	0.73	0.74	0.62	0.64	0.67
Enterprise Value to Revenue (EV/Rev)	2.02	2.31	3.43	3.05	2.17	2.13	2.84	3.26	2.73	2.59	2.83
Enterprise Value to EBITDA (EV/EBITDA)	4.56	5.10	7.46	6.73	5.06	6.12	9.55	11.62	10.55	8.47	8.98
Enterprise Value to EBIT (EV/EBIT)	5.00	5.52	7.97	7.17	5.41	6.69	10.68	13.14	12.08	9.46	9.85
Enterprise Value to NOPAT (EV/NOPAT)	6.41	7.08	10.21	9.21	6.95	8.68	13.86	17.06	15.57	12.03	12.73
Enterprise Value to Operating Cash Flow (EV/OCF)	14.03	12.78	7.26	9.21	11.47	6.11	16.49	12.60	4.21	13.97	8.64
Enterprise Value to Free Cash Flow (EV/FCFF)	2.14	19.04	0.00	0.00	0.00	0.00	0.83	1.30	3.90	2.29	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	1.20	3.02	2.95	2.18	1.53	1.18	1.36	0.92	1.02	0.99
Long-Term Debt to Equity	0.60	0.58	1.18	1.24	1.22	0.97	1.18	1.15	0.92	1.02	0.81
Financial Leverage	0.49	0.69	1.59	1.59	1.43	1.38	2.09	2.12	1.43	1.27	1.07
Leverage Ratio	13.88	13.77	13.84	14.77	16.92	14.78	14.16	14.49	13.40	12.75	11.99
Compound Leverage Factor	13.88	13.77	13.84	14.77	16.92	14.78	14.16	14.49	13.40	12.75	11.99
Debt to Total Capital	41.01%	54.62%	75.12%	74.70%	68.60%	60.40%	54.07%	57.58%	47.95%	50.49%	49.66%
Short-Term Debt to Total Capital	5.91%	28.13%	45.72%	43.22%	30.39%	22.04%	0.00%	8.61%	0.00%	0.00%	8.74%
Long-Term Debt to Total Capital	35.10%	26.49%	29.40%	31.48%	38.21%	38.36%	54.07%	48.97%	47.95%	50.49%	40.92%
Preferred Equity to Total Capital	4.59%	3.45%	1.64%	1.78%	2.49%	2.44%	2.99%	2.71%	2.78%	2.98%	2.81%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	54.40%	41.93%	23.24%	23.52%	28.91%	37.16%	42.94%	39.71%	49.27%	46.53%	47.52%
Debt to EBITDA	2.44	3.90	10.28	9.30	6.61	7.82	7.06	9.07	8.20	6.73	6.70
Net Debt to EBITDA	-1.69	-0.03	4.18	3.55	1.67	0.22	1.97	3.85	0.47	-0.13	1.12
Long-Term Debt to EBITDA	2.08	1.89	4.02	3.92	3.68	4.96	7.06	7.71	8.20	6.73	5.52
Debt to NOPAT	3.42	5.42	14.07	12.73	9.07	11.09	10.25	13.32	12.10	9.56	9.51
Net Debt to NOPAT	-2.38	-0.04	5.73	4.85	2.29	0.31	2.86	5.65	0.70	-0.19	1.59
Long-Term Debt to NOPAT	2.93	2.63	5.51	5.36	5.05	7.04	10.25	11.32	12.10	9.56	7.83
Noncontrolling Interest Sharing Ratio	6.12%	6.03%	6.05%	6.55%	7.85%	6.80%	6.54%	6.70%	6.39%	6.09%	6.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,398	-373	-14,052	-12,776	-6,989	-4,728	11,061	7,797	1,865	3,131	-667
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	55.77	-2.78	-58.31	-28.20	-13.92	-10.17	23.48	17.80	4.16	7.99	-1.91
Operating Cash Flow to Interest Expense	9.14	4.46	1.92	-0.34	-0.35	2.41	-0.44	0.25	2.34	-0.90	0.78
Operating Cash Flow Less CapEx to Interest Expense	9.14	4.46	1.92	-0.34	-0.35	2.41	-0.44	0.25	2.34	-0.90	0.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.05	0.04	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	7.60	8.28	9.07	9.57	9.32	8.50	7.87	7.55	7.23	7.07	7.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,593	11,416	24,094	22,114	15,833	16,177	13,171	14,523	14,152	13,216	14,010
Invested Capital Turnover	0.34	0.32	0.23	0.25	0.31	0.26	0.18	0.18	0.21	0.22	0.24
Increase / (Decrease) in Invested Capital	-2,047	723	14,376	13,049	7,240	4,761	-10,923	-7,591	-1,681	-2,961	839
Enterprise Value (EV)	6,593	8,151	13,132	11,951	8,327	7,650	9,632	10,711	8,735	8,397	9,318
Market Capitalization	8,645	7,804	5,372	5,261	5,184	6,987	7,252	6,767	7,948	8,134	7,758
Book Value per Share	$35.74	$36.56	$42.63	$39.50	$34.74	$45.59	$42.66	$43.50	$52.55	$46.76	$50.69
Tangible Book Value per Share	$35.74	$36.56	$42.63	$39.50	$34.74	$45.59	$42.66	$43.50	$52.55	$46.76	$50.69
Total Capital	8,593	11,416	24,094	22,114	15,833	16,177	13,171	14,523	14,152	13,216	14,010
Total Debt	3,524	6,235	18,100	16,519	10,861	9,771	7,121	8,362	6,786	6,673	6,958
Total Long-Term Debt	3,016	3,024	7,084	6,961	6,049	6,206	7,121	7,112	6,786	6,673	5,733
Net Debt	-2,446	-47	7,366	6,296	2,749	269	1,986	3,550	393	-131	1,166
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	3,524	6,235	18,100	16,519	10,861	9,771	7,121	8,362	6,786	6,673	6,958
Total Depreciation and Amortization (D&A)	31	27	25	27	27	27	26	27	25	25	15
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.63	$2.60	$2.41	$2.02	$1.85	$0.19	$0.99	$1.50	$1.34	$1.23	$1.26
Adjusted Weighted Average Basic Shares Outstanding	130.95M	131.35M	131.67M	131.78M	131.87M	132.49M	132.59M	132.67M	131.51M	131.35M	131.41M
Adjusted Diluted Earnings per Share	$2.60	$2.58	$2.39	$2.01	$1.84	$0.20	$0.98	$1.49	$1.33	$1.22	$1.25
Adjusted Weighted Average Diluted Shares Outstanding	130.95M	131.35M	131.67M	131.78M	131.87M	132.49M	132.59M	132.67M	131.51M	131.35M	131.41M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	130.95M	131.35M	131.67M	131.78M	131.87M	132.49M	132.59M	132.67M	131.51M	131.35M	131.41M
Normalized Net Operating Profit after Tax (NOPAT)	351	350	324	273	251	33	138	206	184	170	172
Normalized NOPAT Margin	35.63%	34.31%	32.73%	29.55%	28.01%	4.22%	17.60%	25.00%	22.69%	20.61%	20.75%
Pre Tax Income Margin	46.19%	43.73%	41.31%	38.53%	36.50%	6.65%	21.30%	32.65%	28.98%	26.30%	27.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.58	3.33	1.70	0.79	0.65	0.11	0.35	0.61	0.52	0.55	0.64
NOPAT to Interest Expense	8.16	2.61	1.34	0.60	0.50	0.07	0.29	0.47	0.41	0.43	0.49
EBIT Less CapEx to Interest Expense	10.58	3.33	1.70	0.79	0.65	0.11	0.35	0.61	0.52	0.55	0.64
NOPAT Less CapEx to Interest Expense	8.16	2.61	1.34	0.60	0.50	0.07	0.29	0.47	0.41	0.43	0.49
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	36.64%	32.67%	29.16%	29.28%	32.05%	44.72%	57.27%	63.22%	70.94%	57.31%	54.78%
Augmented Payout Ratio	45.68%	36.40%	30.64%	30.74%	33.39%	46.65%	59.28%	65.45%	73.44%	71.63%	75.41%

Financials Breakdown Chart

Key Financial Trends

Comerica Inc. (NYSE: CMA) has shown notable trends in its financials over the past several years through Q1 2025.

Positive Highlights:

Net income attributable to common shareholders increased steadily, rising from $270 million in Q2 2023 to $317 million in Q4 2024, and reaching $165 million in Q1 2025 despite the seasonality.
Earnings per share (EPS) demonstrated growth over 2023 and 2024, with diluted EPS increasing from $2.60 in Q1 2023 to approximately $1.25 (annualized) in Q1 2025 considering seasonal variations.
Provision for credit losses has been relatively well-managed, with a notable drop to $0 in Q2 2024, and then stabilizing around $20 million in recent quarters, indicating improved credit risk management.
Net interest income has been relatively stable, around $533 million to $575 million in recent quarters, supported by consistent loan interest income above $750 million per quarter.
Non-interest income shows strength with stable contributions from service charges and trust fees, totaling around $254 million in Q1 2025, consistent with Q4 2024 levels.
Operating expenses have been controlled, with non-interest expenses holding near $580 million to $600 million in recent quarters, helping preserve profitability.
Strong cash flow from operating activities, improving from negative in 2023 (e.g., -$354 million in Q4 2024) to positive $273 million in Q1 2025, indicating improving core operational cash generation.
Equity capital has increased over time, with total common equity rising from about $4.6 billion in Q3 2023 to $6.7 billion by Q1 2025, providing a solid capital buffer.
Total shareholders' equity grew from about $5 billion in 2023 to over $7 billion by Q1 2025, reflecting retained earnings growth and capital management benefits.
Comerica continued to return value to shareholders through consistent dividends, with dividends per share steady at about $0.71 in 2024 and Q1 2025.

Neutral Observations:

Total assets fluctuated, with some seasonal variation, holding around $77-79 billion in early 2025 compared to above $85 billion in late 2023, reflecting changes in loans, securities, and cash balances.
Total liabilities decreased somewhat from $80 billion+ in 2023 to about $70.5 billion in early 2025, mainly due to a reduction in deposits and debt, which could reflect strategic balance sheet management or changes in market conditions.
Trading account securities holdings remain substantial, fluctuating around $15 billion to $18 billion, reflecting active investment activities but with no clear increasing or decreasing trend.
Allowance for loan and lease losses remained relatively stable around $680 million in early 2025, reflecting ongoing prudent credit loss provisioning aligned with loan balances.
The company's debt levels, including long-term debt, have shifted with total long-term debt moving between $6 billion and $7 billion, with some repayment activity evident, indicating attention to debt management.
Net change in cash and equivalents varies widely quarterly, with Q1 2025 down almost $1 billion, indicating volatility in cash flow activities typical for financial institutions.

Negative Factors:

Interest expenses on deposits and borrowings have increased noticeably from around $134 million in Q4 2022 to approximately $349 million in Q1 2025, pressuring net interest margins.
A sharp decline in net income was observed in Q4 2023 and Q1 2024 compared to prior quarters, with net income dropping to $33 million in Q4 2023 reflecting exceptional items or challenges during that period.
Significant fluctuations and increases in operating expenses, especially property and liability insurance claims that spiked to $132 million in Q4 2023, contributing to a spike in non-interest expenses and reduced profits.
Substantial net cash outflows in financing activities in the first quarter of 2025 amounting to nearly $2.2 billion, largely driven by deposit declines and repurchases, could signal liquidity or funding pressures.
Cash dividends payments and share repurchases continue to be sizable, which, while supporting shareholder returns, could constrain internal liquidity if not balanced with earnings and cash flow generation.

Summary: Comerica has demonstrated overall stable profitability with improving net income and EPS trends in recent quarters, supported by steady net interest income and controlled expenses. The bank shows strong capital position growth and consistent shareholder returns. However, rising interest expenses and cash outflows in financing activities, coupled with some volatility in quarterly net income, pose areas to watch. Investors should monitor the company’s ability to manage funding costs and operating expense volatility while sustaining loan growth and managing credit risks.

10/10/25 02:17 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Comerica's Financials

When does Comerica's financial year end?

According to the most recent income statement we have on file, Comerica's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Comerica's net income changed over the last 9 years?

Comerica's net income appears to be on an upward trend, with a most recent value of $698 million in 2024, rising from $521 million in 2015. The previous period was $881 million in 2023. Check out Comerica's forecast to explore projected trends and price targets.

How has Comerica's revenue changed over the last 9 years?

Over the last 9 years, Comerica's total revenue changed from $2.72 billion in 2015 to $3.24 billion in 2024, a change of 19.1%.

How much debt does Comerica have?

Comerica's total liabilities were at $72.75 billion at the end of 2024, a 8.4% decrease from 2023, and a 13.1% increase since 2015.

How much cash does Comerica have?

In the past 9 years, Comerica's cash and equivalents has ranged from $850 million in 2024 to $1.76 billion in 2022, and is currently $850 million as of their latest financial filing in 2024.

How has Comerica's book value per share changed over the last 9 years?

Over the last 9 years, Comerica's book value per share changed from 42.78 in 2015 to 46.76 in 2024, a change of 9.3%.

Related Companies

This page (NYSE:CMA) was last updated on 10/10/2025 by MarketBeat.com Staff

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Comerica (CMA) Financials

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