Canadian Imperial Bank of Commerce (CM) Cash Flow: Operating & Free Cash Flow

Canadian Imperial Bank of Commerce (CM) Cash Flow Statement

In fiscal 2025 (fiscal year ended Oct 31, 2025), Canadian Imperial Bank of Commerce used CAD 23.34B of cash in operating activities and spent CAD 1.11B on capital expenditures. That left free cash flow of −CAD 24.45B. It returned CAD 5.72B to shareholders through CAD 3.99B in dividends and CAD 1.73B in share buybacks.

Canadian Imperial Bank of Commerce Cash Flow Statement Analysis

Values in billions CAD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Canadian Imperial Bank of Commerce (CM) - Annual data in billions CAD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017
Operating Activities
Net Income	8.45	7.12	5.04	6.24	6.45	3.79	5.12	5.28	4.72
Depreciation & Amortization	1.18	1.17	1.14	1.05	1.02	1.31	0.84	0.66	0.54
Deferred Income Tax	-0.26	-0.24	-0.08	-0.05	-0.04	-0.23	0.11	0.07	0.02
Stock Based Compensation	0.02	0.02	0.01	0.02	0.02	0.01	0.02	0.03	0.01
Change in Working Capital	2.11	2.86	2.30	15.56	-11.77	53.69	11.54	3.23	-3.20
Change in Accounts Receivable	0.04	-0.71	-1.27	-0.96	0.05	0.10	-0.12	-0.34	-0.03
Change in Inventory	0.00	0.00	-15.95	0.00	-50.57	-8.43	-7.48	-14.48	-24.83
Change in Accounts Payable	-0.98	0.45	2.52	1.23	-0.42	-0.24	0.14	0.21	0.09
Change in Other Working Capital	63.39	-1.82	1.82	-1.13	39.17	62.26	19.00	17.84	21.57
Other Operating Activities	-0.26	-1.82	1.82	-1.13	1.00	1.72	1.02	0.60	0.37
Net Cash from Operating Activities	-23.35	11.09	12.15	22.72	-3.33	60.30	18.64	9.87	2.46
Investing Activities
Capital Expenditures	-1.11	-1.09	-1.01	-1.11	-0.84	-0.31	-0.27	-0.26	0.00
Acquisitions	0.00	0.00	0.00	-3.09	0.84	0.31	-0.03	-0.32	-2.52
Purchases of Investments	-98.37	-76.53	-79.49	-70.95	-49.90	-54.08	-42.30	-33.01	-37.86
Sales/Maturities of Investments	93.70	56.87	59.74	50.76	47.23	34.98	24.71	25.59	38.22
Other Investing Activities	-1.11	0.00	-1.01	-1.11	-0.84	-0.31	0.45	0.00	0.20
Net Cash from Investing Activities	-5.78	-20.75	-20.76	-24.39	-3.51	-19.41	-17.89	-7.99	-1.97
Financing Activities
Debt Repayment	-1.38	-1.82	-1.83	-0.33	-0.31	0.66	0.50	0.90	-0.06
Common Stock Issued	0.16	0.31	0.18	0.23	0.28	0.18	0.00	0.19	0.00
Common Stock Repurchased	-1.73	-1.40	0.00	-0.93	-0.02	-0.23	-0.11	-0.42	-0.01
Dividends Paid	-3.99	-2.95	-2.26	-2.97	-2.65	-2.57	-2.41	-2.11	-1.43
Other Financing Activities	-0.03	0.33	0.00	0.60	0.75	0.75	20.56	0.45	0.99
Net Cash from Financing Activities	32.87	-2.61	-2.16	-1.61	-1.95	-1.22	18.55	-0.99	-0.50
Summary
Effect of Forex Changes on Cash	0.06	0.02	0.05	0.25	-0.18	0.03	0.00	0.05	-0.05
Net Change in Cash	3.81	-12.25	-10.72	-3.04	-8.96	39.69	-0.54	0.94	-0.06
Cash at Beginning of Period	8.57	20.82	31.54	34.57	43.53	3.84	4.38	3.44	3.50
Cash at End of Period	12.38	8.57	20.82	31.54	34.57	43.53	3.84	4.38	3.44
Free Cash Flow	-24.45	10.00	11.14	21.61	-4.17	59.99	18.36	9.61	2.46
Supplemental Disclosures
Interest Paid	33.98	38.04	29.67	8.31	3.70	-	-	-	-
Income Taxes Paid	3.23	2.51	1.66	2.59	1.37	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jul 31, 2026. Data sources and methodology

Frequently Asked Questions About Canadian Imperial Bank of Commerce Cash Flow

What is Canadian Imperial Bank of Commerce's free cash flow?

Canadian Imperial Bank of Commerce had negative free cash flow of CAD 24.45B in fiscal 2025 (fiscal year ended Oct 31, 2025), operating cash flow of −CAD 23.34B minus CAD 1.11B of capital expenditures.

How much does Canadian Imperial Bank of Commerce spend on capital expenditures?

Canadian Imperial Bank of Commerce spent CAD 1.11B on capital expenditures in fiscal 2025, compared with CAD 1.09B a year earlier.

Does Canadian Imperial Bank of Commerce pay dividends or buy back shares?

Yes. In fiscal 2025 Canadian Imperial Bank of Commerce returned CAD 3.99B in dividends and CAD 1.73B in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition