COMERICA INC /NEW/

10-K & 10-Q Filings

Comerica Incorporated is a financial services company headquartered in Dallas, Texas. It was incorporated under the laws of Delaware in 1973 and is among the 25 largest commercial financial holding companies in the United States based on total assets. Comerica owns directly or indirectly all the outstanding common stock of two active banking subsidiaries, Comerica Bank and Comerica Bank & Trust, as well as non-banking subsidiaries. The company has total assets of approximately $85.8 billion, total deposits of approximately $66.8 billion, total loans of approximately $52.1 billion, and shareholders’ equity of approximately $6.4 billion. Comerica's business strategy is aligned into three major business segments: Commercial Bank, Retail Bank, and Wealth Management. The company operates in five primary geographic markets - Texas, California, Michigan, Arizona, and Florida - and secondarily in several mountain, southeastern, and other states, and in Canada and Mexico. Comerica provides information about the net interest income and noninterest income it received from various classes of products and services under the captions "Analysis of Net Interest Income," "Rate/Volume Analysis," and "Noninterest Income" in the Financial Section of its annual report. Comerica competes in various products and services, including commercial products such as loans and lines of credit, deposits, cash management, capital markets, international trade finance, letters of credit, foreign exchange management, and loan syndications; consumer products such as loans, deposits, and origination of mortgage loans and credit cards; and wealth management services such as comprehensive financial planning, trust and fiduciary services, investment management and advisory, brokerage, private banking, and business transition planning services. The company competes largely on industry expertise, the range of products and services offered, pricing, reputation, convenience, quality of service, responsiveness to customer needs, and the overall customer relationship. Comerica's website is www.comerica.com, and its ticker symbol is CMA on the New York Stock Exchange.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$1500.00
1649.00
1626.00
1628.00
1542.00
1549.00
1987.00
2353.00
2265.00
1374.00
2228.00
2406.00
2425.00
678.00
534.00
4.08%-21.24%Net Interest Income (+)
$1653.00
1728.00
1672.00
1655.00
1689.00
1797.00
2061.00
2352.00
2339.00
1911.00
1105.00
2466.00
2514.00
708.00
548.00
3.56%-22.60%Interest Expense (-)
$156.00
135.00
112.00
95.00
95.00
112.00
121.00
267.00
468.00
182.00
57.00
206.00
1661.00
241.00
21.79%Non Interest Income (+)
$-153.00
-79.00
-46.00
-27.00
-147.00
-248.00
-74.00
1.00
-74.00
-537.00
1123.00
-60.00
-89.00
-30.00
-14.00
53.33%Selling, General & Administrative (-)
$28.00
27.00
21.00
23.00
24.00
21.00
28.00
30.00
34.00
35.00
35.00
38.00
40.00
8.00
8.00
3.02%0.00%Marketing Expenses (-)
$28.00
27.00
21.00
23.00
24.00
21.00
28.00
30.00
34.00
35.00
35.00
38.00
40.00
8.00
8.00
3.02%0.00%Non-recurring Operating Expenses (-)
$75.00
35.00
93.00
45.00
53.00
Operating Expenses (-)
$1762.00
1757.00
1722.00
1626.00
1842.00
1930.00
1860.00
1794.00
1743.00
1784.00
1861.00
1998.00
2359.00
551.00
603.00
2.46%9.44%Operating Income/Loss (+)
$-262.00
-108.00
-96.00
-30.00
-300.00
588.00
127.00
559.00
522.00
-410.00
367.00
408.00
66.00
127.00
63.00
-50.39%Provision for Loan Loss (-)
$153.00
79.00
46.00
27.00
147.00
248.00
74.00
-1.00
74.00
537.00
-384.00
60.00
89.00
30.00
14.00
-4.41%-53.33%Non-operating Income/Expense (+)
$
32.00
Earnings before Tax (+)
$530.00
710.00
730.00
870.00
750.00
670.00
1234.00
1535.00
1532.00
591.00
1490.00
1476.00
1144.00
409.00
167.00
6.62%-59.17%Tax Expense (-)
$137.00
189.00
189.00
277.00
229.00
193.00
491.00
300.00
334.00
117.00
322.00
325.00
263.00
85.00
29.00
5.59%-65.88%Income/Loss (Continuing Operations) (+)
$393.00
521.00
541.00
593.00
521.00
477.00
743.00
1235.00
1198.00
474.00
1168.00
1151.00
881.00
324.00
138.00
6.96%-57.41%Income/Loss (Discontinued Operations) (+)
$
Profit/Loss (+)
$393.00
521.00
541.00
593.00
521.00
477.00
743.00
1235.00
1198.00
474.00
1168.00
1151.00
881.00
324.00
138.00
6.96%-57.41%Net Income/Loss (+)
$389.00
515.00
533.00
586.00
515.00
473.00
738.00
1227.00
1191.00
459.00
1140.00
1122.00
854.00
317.00
131.00
6.77%-58.68%Preferred & Other Distributions (-)
$
6.00
Net Income/Loss (Common) (+)
$389.00
515.00
533.00
586.00
515.00
473.00
738.00
1227.00
1191.00
459.00
1140.00
1122.00
854.00
317.00
131.00
6.77%-58.68%EPS (Basic)
$2.11
2.68
2.92
3.28
2.93
2.74
4.23
7.31
7.95
3.29
8.45
8.56
6.47
2.41
0.99
9.79%-58.92%EPS (Diluted)
$2.09
2.67
2.85
3.16
2.84
2.68
4.14
7.20
7.87
3.27
8.35
8.47
6.44
2.39
0.98
9.83%-59.00%Weighted Avg Shares (Basic)
197.63
187.67
182.07
178.36
174.88
175.86
172.81
159.00
141.35
139.29
131.08
131.35
132.49
131.67
132.59
-3.28%0.70%Cash
$3556.00
4534.00
6451.00
6071.00
6147.00
7218.00
5845.00
4561.00
5818.00
15767.00
22679.00
6282.00
9502.00
10734.00
5135.00
8.54%-52.16%Short-term Investments
$149.00
125.00
112.00
99.00
113.00
92.00
96.00
134.00
155.00
172.00
197.00
157.00
399.00
354.00
366.00
8.55%3.39%Securities & Long-term Investments
$41953.00
45428.00
44872.00
47999.00
48450.00
48358.00
48461.00
49492.00
49732.00
51343.00
48697.00
52792.00
51425.00
54285.00
50131.00
1.71%-7.65%Property, Plant & Equipment (Net)
$675.00
622.00
594.00
532.00
550.00
501.00
466.00
475.00
457.00
459.00
454.00
400.00
445.00
399.00
462.00
-3.41%15.79%Other Assets
$14675.00
14650.00
13198.00
14489.00
16617.00
16809.00
16699.00
16156.00
17240.00
20388.00
22589.00
25775.00
24063.00
25355.00
23350.00
4.21%-7.91%Assets (Total)
$61008.00
65359.00
65227.00
69190.00
71877.00
72978.00
71567.00
70818.00
73402.00
88129.00
94616.00
85406.00
85834.00
91127.00
79444.00
2.89%-12.82%Deposits
$75746.00
81125.00
82709.00
87748.00
88867.00
86430.00
57903.00
55561.00
87208.00
72869.00
82339.00
71397.00
105675.00
96239.00
101323.00
2.81%5.28%Debt (Current)
$70.00
110.00
253.00
116.00
23.00
25.00
10.00
44.00
71.00
3211.00
3565.00
38.75%Debt (Non-current)
$5014.00
4830.00
3796.00
2795.00
3081.00
5185.00
4632.00
6507.00
7340.00
5728.00
2796.00
6235.00
9771.00
7084.00
7121.00
5.72%0.52%Other Liabilities
$
1059.00
1199.00
1482.00
1584.00
Liabilities (Total)
$54140.00
58417.00
58074.00
61788.00
64317.00
65182.00
63604.00
63311.00
66075.00
80079.00
86719.00
80225.00
79428.00
85133.00
73394.00
3.25%-13.79%Treasury Stock
$1633.00
1879.00
2097.00
2259.00
2409.00
2428.00
2736.00
3954.00
5291.00
5461.00
6090.00
6032.00
6055.00
5995.00
11.50%-0.99%Retained Earnings
$5546.00
5931.00
6321.00
6744.00
7084.00
7331.00
7887.00
8781.00
9538.00
9623.00
11258.00
11727.00
11476.00
11765.00
6.44%2.52%AOCI
$-356.00
-413.00
-391.00
-412.00
-429.00
-383.00
-451.00
-609.00
-235.00
168.00
-212.00
-3742.00
-3048.00
-3171.00
-3457.00
-9.02%Shareholder's Equity
$6868.00
6942.00
7153.00
7402.00
7560.00
7796.00
7963.00
7507.00
7327.00
8050.00
7897.00
5181.00
6406.00
5994.00
6050.00
-0.58%0.93%Liabilities & Equity
$61008.00
65359.00
65227.00
69190.00
71877.00
72978.00
71567.00
70818.00
73402.00
88129.00
94616.00
85406.00
85834.00
91127.00
79444.00
2.89%-12.82%Net Income/Loss
$393.00
521.00
541.00
593.00
521.00
477.00
743.00
1235.00
1198.00
474.00
1168.00
1151.00
881.00
324.00
138.00
6.96%-57.41%Depreciation & Amortization
$161.00
181.00
145.00
136.00
131.00
129.00
127.00
123.00
116.00
123.00
135.00
122.00
106.00
25.00
26.00
-3.42%4.00%Increase/Decrease in Working Capital
$-156.00
219.00
-48.00
248.00
-58.00
338.00
-65.00
-188.00
328.00
115.00
324.00
635.00
-278.00
-71.00
391.00
650.70%Share-based Compensation
$37.00
37.00
35.00
38.00
38.00
34.00
39.00
48.00
39.00
24.00
41.00
60.00
52.00
28.00
27.00
2.88%-3.57%Adjustments to Reconcile Net Income
$509.00
233.00
295.00
46.00
341.00
16.00
360.00
381.00
-108.00
454.00
-534.00
-513.00
370.00
138.00
-343.00
-2.62%-348.55%Net Cash (Operating)
$902.00
754.00
836.00
639.00
862.00
493.00
1103.00
1616.00
1090.00
928.00
634.00
638.00
1251.00
462.00
-205.00
2.76%-144.37%Capital Expenditure
$-721.00
Net Cash (Investing)
$-955.00
-3738.00
1174.00
-3743.00
-3255.00
-270.00
-138.00
-1156.00
-494.00
4602.00
1723.00
-9952.00
3494.00
-1006.00
1739.00
272.86%Increase/Decrease in Debt
$1697.00
4367.00
292.00
3066.00
2846.00
1154.00
-1711.00
-198.00
2438.00
13808.00
5638.00
-6690.00
-1130.00
5103.00
-5790.00
-213.46%Increase/Decrease in Equity
$-112.00
-308.00
-258.00
-211.00
-228.00
-158.00
-442.00
-1286.00
-1376.00
-195.00
-695.00
-15.00
1.00
-13.00
-13.00
0.00%Interest Expenses
$151.00
135.00
114.00
101.00
94.00
111.00
122.00
261.00
462.00
203.00
57.00
130.00
1449.00
194.00
541.00
20.74%178.87%Dividends Paid
$73.00
97.00
123.00
137.00
147.00
152.00
180.00
263.00
402.00
383.00
392.00
376.00
394.00
94.00
98.00
15.08%4.26%Net Cash (Financing)
$1526.00
3962.00
-93.00
2724.00
2469.00
848.00
-2338.00
-1744.00
661.00
13623.00
4555.00
-7083.00
-1525.00
4996.00
-5901.00
-218.11%Cash Taxes Paid
$73.00
46.00
115.00
218.00
88.00
106.00
336.00
200.00
266.00
141.00
157.00
277.00
317.00
11.00
4.00
13.02%-63.64%Increase/Decrease in Cash
$1473.00
978.00
1917.00
-380.00
76.00
1071.00
-1373.00
-1284.00
1257.00
9949.00
6912.00
-16397.00
3220.00
4452.00
-4367.00
6.73%-198.09%Cash (Beginning)
$2083.00
3556.00
4534.00
6451.00
6071.00
6147.00
7218.00
5845.00
4561.00
5818.00
15767.00
22679.00
6282.00
6282.00
9502.00
9.64%51.26%Cash (Ending)
$3556.00
4534.00
6451.00
6071.00
6147.00
7218.00
5845.00
4561.00
5818.00
15767.00
22679.00
6282.00
9502.00
10734.00
5135.00
8.54%-52.16%NOPAT
$-225.91
-101.00
-80.88
-22.48
-264.80
494.97
92.42
486.17
431.37
-312.18
328.33
331.43
47.71
123.58
61.49
-50.24%Operating Margin %
-17.47%
-6.55%
-5.90%
-1.84%
-19.46%
37.96%
6.39%
23.76%
23.05%
-29.84%
16.47%
16.96%
2.72%
18.73%
11.80%
NOPAT Margin %
-15.06%
-6.13%
-4.97%
-1.38%
-17.17%
31.95%
4.65%
20.66%
19.04%
-22.72%
14.74%
13.78%
1.97%
18.23%
11.52%
Net Margin %
25.93%
31.23%
32.78%
36.00%
33.40%
30.54%
37.14%
52.15%
52.58%
33.41%
51.17%
46.63%
35.22%
46.76%
24.53%
Tax Rate %
13.77%
6.48%
15.75%
25.06%
11.73%
15.82%
27.23%
13.03%
17.36%
23.86%
10.54%
18.77%
27.71%
2.69%
2.40%
ROA
-0.37%
-0.15%
-0.12%
-0.03%
-0.37%
0.68%
0.13%
0.69%
0.59%
-0.35%
0.35%
0.39%
0.06%
0.14%
0.08%
ROE
-3.29%
-1.45%
-1.13%
-0.30%
-3.50%
6.35%
1.16%
6.48%
5.89%
-3.88%
4.16%
6.40%
0.74%
2.06%
1.02%
Equity Multiplier
8.88
9.42
9.12
9.35
9.51
9.36
8.99
9.43
10.02
10.95
11.98
16.48
13.40
15.20
13.13
Debt/Equity Ratio
11.77
12.40
12.13
12.25
12.17
11.75
7.85
8.27
12.91
9.76
10.78
15.60
18.58
17.24
17.92
Dividend Payout Ratio %
32.31%
96.04%
152.08%
609.36%
55.51%
30.71%
194.76%
54.10%
93.19%
122.68%
119.39%
113.45%
825.80%
76.06%
159.37%
Total Payout
$185.00
405.00
381.00
348.00
375.00
310.00
622.00
1549.00
1778.00
578.00
1087.00
391.00
393.00
107.00
111.00
6.48%3.74%Payout Ratio %
81.89%
400.98%
471.09%
1547.85%
141.62%
62.63%
673.02%
318.62%
412.18%
185.15%
331.07%
117.97%
823.70%
86.58%
180.51%