The bank's capital adequacy remains under scrutiny as the equity-to-assets ratio has stayed tight, ranging between 0.06 and 0.10 over the past ten quarters, while total assets have contracted from $85.8 billion in 2023Q4 to $80.1 billion in 2025Q4.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 15.78B | 14.18B | 26.77B | 25.45B | 39.86B | 30.97B | 18.37B | 16.74B | 16.88B | 18.1B | 16.78B | 14.29B | 15.87B | 14.86B | 13.81B | 9.78B | 13.17B | 12.58B | 8.11B | 5.42B | 6.07B | 1.14B | 1.53B | 1.9B | 1.93B | 1.93B | 1.2B | 1.77B | 1.93B | 1.93B |
| Cash & Due from Banks | 866M | 6.8B | 9.5B | 6.28B | 22.68B | 15.77B | 5.82B | 4.56B | 5.84B | 7.22B | 6.15B | 6.07B | 6.45B | 4.43B | 3.56B | 2.08B | 5.62B | 3.22B | 1.48B | 1.43B | 1.61B | 1.14B | 1.53B | 1.9B | 1.93B | 1.93B | 1.2B | 1.77B | 1.93B | 1.93B |
| Short Term Investments | 14.91B | 7.38B | 17.27B | 19.17B | 17.18B | 15.2B | 12.55B | 12.18B | 11.03B | 10.88B | 10.63B | 8.21B | 9.42B | 10.42B | 10.25B | 7.7B | 7.55B | 9.36B | 6.63B | 3.99B | 4.46B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 41.76B | 56.52B | 67.9B | 71.21B | 65.25B | 65.96B | 61.7B | 61.17B | 60.3B | 60.25B | 60.34B | 57.34B | 53.45B | 54.99B | 51.3B | 47.04B | 48.73B | 59.09B | 56.82B | 50.93B | 47.19B | 47.34B | 48B | 46.99B | 44.83B | 45.18B | 35.57B | 32.97B | 32.68B | 30.64B |
| Investments Growth % | -26.11% | -16.76% | -4.65% | 9.14% | -1.08% | 6.9% | 0.87% | 1.43% | 0.09% | -0.15% | 5.23% | 7.29% | -2.81% | 7.19% | 9.07% | -3.48% | -17.54% | 4.01% | 11.57% | 7.91% | -0.32% | -1.37% | 2.15% | 4.81% | -0.78% | 27.03% | 7.87% | 0.9% | 6.66% | -1.04% |
| Long-Term Investments | 26.85B | 49.14B | 50.63B | 52.04B | 48.06B | 50.76B | 49.15B | 48.99B | 49.27B | 49.37B | 49.71B | 49.13B | 44.03B | 44.57B | 41.05B | 39.34B | 41.18B | 49.73B | 50.19B | 46.94B | 42.73B | 47.34B | 48B | 46.99B | 44.83B | 45.18B | 35.57B | 32.97B | 32.68B | 30.64B |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 0 | 837M | 696M | 635M | 635M | 636M | 637M | 639M | 641M | 643M | 645M | 650M | 652M | 655M | 664M | 156M | 158M | 150M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 635M | 150M | 150M | 150M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 202M | 61M | 0 | 0 | 1M | 2M | 4M | 6M | 8M | 10M | 15M | 17M | 20M | 29M | 6M | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 426M | 473M | 445M | 400M | 454M | 459M | 457M | 475M | 466M | 501M | 550M | 532M | 594M | 622M | 675M | 630M | 644M | 683M | 650M | 568M | 510M | 415M | 374M | 371M | 353M | 364.25M | 330.73M | 352.7M | 380.2M | 407.7M |
| Other Assets | 36.27B | 13.96B | 6.5B | 6.13B | 4.97B | 4.72B | 4.21B | 3.17B | 3.56B | 0 | 0 | 3.78B | 3.24B | 3.51B | 0 | -156M | -4.39B | -4.27B | -3.22B | 2.69B | 996M | 2.87B | 2.69B | 4.04B | 3.62B | 2.06B | 1.55B | 1.5B | 1.31B | 1.23B |
| Total Current Assets | 16.53B | 14.89B | 27.57B | 26.2B | 40.5B | 31.55B | 18.96B | 17.24B | 17.34B | 22.46B | 20.97B | 15.09B | 16.71B | 15.71B | 18.62B | 13.7B | 21.66B | 21.25B | 14.71B | 7.81B | 8.78B | 1.14B | 1.53B | 1.9B | 1.93B | 1.93B | 1.2B | 1.77B | 1.93B | 1.93B |
| Total Non-Current Assets | 63.54B | 64.41B | 58.27B | 59.2B | 54.12B | 56.58B | 54.45B | 53.58B | 54.23B | 50.52B | 50.91B | 54.09B | 48.51B | 49.35B | 42.39B | 39.97B | 37.58B | 46.3B | 47.62B | 50.19B | 44.24B | 50.63B | 51.06B | 51.4B | 48.81B | 47.6B | 37.45B | 34.83B | 34.37B | 32.28B |
| Total Assets | 80.07B | 79.3B | 85.83B | 85.41B | 94.62B | 88.13B | 73.4B | 70.82B | 71.57B | 72.98B | 71.88B | 69.19B | 65.23B | 65.36B | 61.01B | 53.67B | 59.26B | 67.55B | 62.33B | 58B | 53.01B | 51.77B | 52.59B | 53.3B | 50.73B | 49.53B | 38.65B | 36.6B | 36.29B | 34.21B |
| Asset Growth % | 0.98% | -7.62% | 0.5% | -9.73% | 7.36% | 20.06% | 3.65% | -1.05% | -1.93% | 1.53% | 3.88% | 6.08% | -0.2% | 7.13% | 13.68% | -9.44% | -12.27% | 8.37% | 7.47% | 9.41% | 2.41% | -1.57% | -1.33% | 5.06% | 2.42% | 28.15% | 5.61% | 0.85% | 6.1% | -3.56% |
| Return on Assets (ROA) | 0.91% | 0.85% | 1.03% | 1.28% | 1.28% | 0.62% | 1.67% | 1.73% | 1.03% | 0.66% | 0.74% | 0.88% | 0.83% | 0.82% | 0.69% | 0.49% | 0.03% | 0.33% | 1.14% | 1.61% | 1.64% | 1.45% | 1.25% | 1.16% | 1.42% | 1.79% | 2.02% | 1.67% | 1.5% | 1.2% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 5.42B | 6.67B | 9.77B | 6.24B | 2.8B | 5.73B | 7.34B | 6.51B | 4.63B | 5.18B | 3.08B | 2.79B | 3.8B | 4.83B | 5.01B | 6.27B | 11.52B | 16.8B | 11.63B | 6.58B | 4.26B | 4.48B | 5.06B | 5.76B | 7.49B | 10.35B | 11.35B | 8.86B | 10.48B | 8.73B |
| Net Debt | 4.56B | -131M | 269M | -47M | -19.88B | -10.04B | 1.52B | 1.95B | -1.21B | -2.03B | -3.07B | -3.28B | -2.65B | 396M | 1.46B | 4.18B | 5.91B | 13.58B | 10.19B | 5.15B | 2.65B | 3.34B | 3.54B | 3.85B | 5.56B | 8.42B | 10.15B | 7.09B | 8.55B | 6.8B |
| Long-Term Debt | 5.42B | 6.67B | 6.21B | 2.18B | 1.92B | 4.82B | 6.38B | 5.6B | 4.62B | 4.81B | 3.06B | 2.33B | 2.54B | 4.72B | 4.94B | 6.14B | 11.06B | 15.05B | 8.82B | 5.95B | 3.96B | 4.29B | 4.8B | 5.22B | 5.5B | 8.26B | 8.58B | 5.28B | 7.29B | 4.24B |
| Short-Term Debt | 0 | 0 | 3.56B | 4.05B | 877M | 905M | 955M | 905M | 10M | 373M | 23M | 463M | 1.25B | 110M | 70M | 130M | 462M | 1.75B | 2.81B | 635M | 302M | 193M | 262M | 540M | 1.99B | 2.09B | 2.77B | 3.58B | 3.19B | 4.49B |
| Other Liabilities | 8.13B | 2.27B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.64B | 49.13B | 0 | 11M | 14M | 0 | 0 | 59M | 1.25B | 956M | 823M | 866M | 827.05M | 539.4M | 378.6M | 465M | 492.4M |
| Total Current Liabilities | 58.81B | 63.81B | 73.22B | 78.04B | 84.8B | 75.26B | 59.69B | 57.71B | 58.98B | 60.37B | 61.26B | 59.46B | 55.53B | 53.41B | 49.2B | 41.74B | 41.15B | 45.33B | 48.34B | 46.84B | 43.92B | 41.13B | 41.73B | 42.31B | 39.56B | 35.95B | 26.06B | 27.89B | 25.78B | 26.86B |
| Total Non-Current Liabilities | 13.56B | 8.94B | 6.21B | 2.18B | 1.92B | 4.82B | 6.38B | 5.6B | 4.62B | 4.81B | 3.06B | 2.33B | 2.54B | 4.72B | 4.94B | 6.14B | 11.06B | 15.05B | 8.82B | 5.95B | 4.02B | 5.53B | 5.76B | 6.04B | 6.37B | 9.09B | 9.12B | 5.66B | 7.75B | 4.73B |
| Total Liabilities | 72.37B | 72.75B | 79.43B | 80.22B | 86.72B | 80.08B | 66.08B | 63.31B | 63.6B | 65.18B | 64.32B | 61.79B | 58.07B | 58.42B | 54.14B | 47.87B | 52.23B | 60.4B | 57.21B | 52.85B | 47.95B | 46.66B | 47.48B | 48.35B | 45.92B | 45.03B | 35.18B | 33.55B | 33.53B | 31.59B |
| Total Equity | 7.71B | 6.54B | 6.41B | 5.18B | 7.9B | 8.05B | 7.33B | 7.51B | 7.96B | 7.8B | 7.56B | 7.4B | 7.15B | 6.94B | 6.87B | 5.79B | 7.03B | 7.15B | 5.12B | 5.15B | 5.07B | 5.11B | 5.11B | 4.95B | 4.81B | 4.5B | 3.47B | 3.05B | 2.76B | 2.62B |
| Equity Growth % | 17.79% | 2.14% | 23.64% | -34.39% | -1.9% | 9.87% | -2.4% | -5.73% | 2.14% | 3.12% | 2.13% | 3.48% | 3.04% | 1.08% | 18.56% | -17.58% | -1.72% | 39.77% | -0.7% | 1.68% | -0.72% | -0.1% | 3.29% | 2.9% | 6.83% | 29.52% | 14.05% | 10.31% | 5.59% | 0.3% |
| Equity / Assets (Capital Ratio) | 9.62% | 8.25% | 7.46% | 6.07% | 8.35% | 9.13% | 9.98% | 10.6% | 11.13% | 10.68% | 10.52% | 10.7% | 10.97% | 10.62% | 11.26% | 10.79% | 11.86% | 10.59% | 8.21% | 8.88% | 9.56% | 9.86% | 9.72% | 9.28% | 9.48% | 9.08% | 8.99% | 8.32% | 7.61% | 7.65% |
| Return on Equity (ROE) | 10.15% | 10.78% | 15.21% | 17.6% | 14.65% | 6.46% | 16.21% | 15.97% | 9.43% | 6.21% | 6.96% | 8.15% | 7.68% | 7.55% | 6.21% | 4.32% | 0.24% | 3.47% | 13.36% | 17.47% | 16.93% | 14.82% | 13.15% | 12.32% | 15.26% | 19.83% | 23.29% | 20.9% | 19.73% | 15.97% |
| Book Value per Share | 57.95 | 48.83 | 48.17 | 38.95 | 57.64 | 57.50 | 48.52 | 43.90 | 44.74 | 44.05 | 41.77 | 40.01 | 38.25 | 36.16 | 36.92 | 33.48 | 46.39 | 48.00 | 33.23 | 31.81 | 29.99 | 29.34 | 28.99 | 27.74 | 26.53 | 25.07 | 19.38 | 19.21 | 17.16 | 15.25 |
| Tangible BV per Share | 57.95 | 42.58 | 42.93 | 34.18 | 53.01 | 52.96 | 44.30 | 40.16 | 41.13 | 40.41 | 38.20 | 36.50 | 34.76 | 32.74 | 33.35 | 32.58 | 45.35 | 46.99 | 33.23 | 31.81 | 29.99 | 29.34 | 28.99 | 27.74 | 26.53 | 25.07 | 19.38 | 19.21 | 17.16 | 15.25 |
| Common Stock | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.14B | 1.02B | 894M | 894M | 894M | 894M | 894M | 894M | 894M | 894M | 893.75M | 888.52M | 786.2M | 786.2M | 0 | 0 |
| Additional Paid-in Capital | 2.2B | 2.22B | 2.22B | 2.22B | 2.17B | 2.19B | 2.17B | 2.15B | 2.12B | 2.13B | 2.17B | 2.19B | 2.18B | 2.16B | 2.17B | 1.48B | 740M | 722M | 564M | 520M | 461M | 421M | 384M | 363M | 345M | 301.41M | 35.09M | 24.6M | 0 | 0 |
| Retained Earnings | 12.34B | 12.02B | 11.73B | 11.26B | 10.49B | 9.73B | 9.54B | 8.78B | 7.89B | 7.33B | 7.08B | 6.74B | 6.32B | 5.93B | 5.55B | 5.25B | 5.16B | 5.34B | 5.5B | 5.28B | 4.8B | 4.33B | 3.97B | 3.68B | 3.45B | 3.09B | 2.49B | 2.09B | 1.73B | 1.85B |
| Accumulated OCI | -2.08B | -3.16B | -3.05B | -3.74B | -212M | 64M | -235M | -609M | -451M | -383M | -429M | -412M | -391M | -413M | -356M | -389M | -336M | -309M | -177M | -324M | -170M | -69M | 74M | 237M | 211.38M | -9.15M | -34.66M | -11.7M | -1.9M | -22.8M |
| Treasury Stock | -6.28B | -6.07B | -6.03B | -6.09B | -6.09B | -5.46B | -5.29B | -3.95B | -2.74B | -2.43B | -2.41B | -2.26B | -2.1B | -1.88B | -1.63B | -1.56B | -1.58B | -1.63B | -1.66B | -1.22B | -913M | -472M | -215M | -231M | -91M | -16.41M | -47.16M | -89.1M | 0 | 0 |
| Preferred Stock | 392M | 394M | 394M | 394M | 394M | 394M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.15B | 2.13B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 250M | 250M | 250M | 250M | 250M |
Deposit migration and funding
According to recent financial statements, Comerica's total assets have trended downward from $85.8 billion in 2023Q4 to $80.1 billion by 2025Q4, suggesting a strategic pivot toward balance sheet optimization rather than aggressive expansion in the current high-rate environment.
The reduction in total assets appears to reflect a deliberate effort to manage capital intensity as the bank navigates a challenging interest rate cycle. This contraction may indicate that management is prioritizing the quality of its commercial loan book over volume growth, potentially to mitigate risks associated with its concentrated middle-market exposure.
As reported in regulatory filings, Comerica's equity-to-assets ratio has remained relatively tight, fluctuating between 0.06 and 0.10 over the last ten quarters, which warrants close monitoring as the bank faces potential increases in capital requirements for Category IV institutions.
The modest equity-to-assets ratio suggests that the bank operates with limited capital flexibility, which may constrain future share repurchases or inorganic growth opportunities. Investors should monitor whether this capital position remains sufficient to absorb potential credit volatility without necessitating further balance sheet deleveraging.
Based on the provided balance sheet data, Comerica maintains a significant investment securities portfolio of $41.8 billion as of 2025Q4, serving as a primary liquidity reservoir that has been actively managed to offset fluctuations in core operating cash flows.
The reliance on the securities portfolio for liquidity management suggests that the bank's core deposit base may be experiencing increased sensitivity to market rates. This strategy appears to provide a necessary cushion, yet it also exposes the bank to potential unrealized losses if interest rate volatility persists.
Analysis of the bank's liability structure suggests that the migration of non-interest-bearing deposits to interest-bearing products, as noted in recent disclosures, represents a significant, non-obvious risk to the bank's net interest margin and overall funding cost stability.
While the bank's commercial-heavy model is often viewed as a moat, the shift in deposit composition implies that the cost of funding may be stickier than historical models suggest. This trend warrants further investigation, as it may indicate that the bank's competitive advantage in treasury management is being eroded by broader market rate pressures.
Quick answers to the most common questions about buying CMA stock.
As of 2025, Comerica Incorporated (CMA) had total assets of $80.07B including $16.53B in current assets.
Comerica Incorporated (CMA) carries total debt of $5.42B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Comerica Incorporated (CMA) has total shareholders' equity (book value) of $7.71B ($57.95 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Comerica Incorporated (CMA) reported a current ratio of 0.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.