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COMMERCE BANCSHARES INC (CBSH) Stock Fundamental Analysis

USA - NASDAQ:CBSH - US2005251036 - Common Stock

54.12 USD
+0.44 (+0.82%)
Last: 10/20/2025, 1:37:51 PM
Fundamental Rating

4

Taking everything into account, CBSH scores 4 out of 10 in our fundamental rating. CBSH was compared to 391 industry peers in the Banks industry. While CBSH is still in line with the averages on profitability rating, there are concerns on its financial health. CBSH has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

CBSH had positive earnings in the past year.
In the past year CBSH had a positive cash flow from operations.
CBSH had positive earnings in each of the past 5 years.
CBSH had a positive operating cash flow in each of the past 5 years.
CBSH Yearly Net Income VS EBIT VS OCF VS FCFCBSH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

1.2 Ratios

CBSH's Return On Assets of 1.71% is amongst the best of the industry. CBSH outperforms 93.86% of its industry peers.
Looking at the Return On Equity, with a value of 15.19%, CBSH belongs to the top of the industry, outperforming 93.35% of the companies in the same industry.
Industry RankSector Rank
ROA 1.71%
ROE 15.19%
ROIC N/A
ROA(3y)1.55%
ROA(5y)1.42%
ROE(3y)17.15%
ROE(5y)15.34%
ROIC(3y)N/A
ROIC(5y)N/A
CBSH Yearly ROA, ROE, ROICCBSH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

With an excellent Profit Margin value of 32.24%, CBSH belongs to the best of the industry, outperforming 86.19% of the companies in the same industry.
CBSH's Profit Margin has been stable in the last couple of years.
The Operating Margin and Gross Margin are not available for CBSH so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 32.24%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.28%
PM growth 5Y0.71%
GM growth 3YN/A
GM growth 5YN/A
CBSH Yearly Profit, Operating, Gross MarginsCBSH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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2

2. Health

2.1 Basic Checks

CBSH does not have a ROIC to compare to the WACC, probably because it is not profitable.
CBSH has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, CBSH has less shares outstanding
The debt/assets ratio for CBSH has been reduced compared to a year ago.
CBSH Yearly Shares OutstandingCBSH Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
CBSH Yearly Total Debt VS Total AssetsCBSH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

CBSH has a debt to FCF ratio of 5.28. This is a neutral value as CBSH would need 5.28 years to pay back of all of its debts.
The Debt to FCF ratio of CBSH (5.28) is worse than 69.82% of its industry peers.
CBSH has a Debt/Equity ratio of 0.72. This is a neutral value indicating CBSH is somewhat dependend on debt financing.
CBSH has a Debt to Equity ratio of 0.72. This is amonst the worse of the industry: CBSH underperforms 81.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 5.28
Altman-Z N/A
ROIC/WACCN/A
WACC9.68%
CBSH Yearly LT Debt VS Equity VS FCFCBSH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
CBSH Yearly Current Assets VS Current LiabilitesCBSH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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6

3. Growth

3.1 Past

CBSH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.22%, which is quite good.
Measured over the past 5 years, CBSH shows a small growth in Earnings Per Share. The EPS has been growing by 7.07% on average per year.
Looking at the last year, CBSH shows a small growth in Revenue. The Revenue has grown by 6.39% in the last year.
CBSH shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.27% yearly.
EPS 1Y (TTM)14.22%
EPS 3Y1.26%
EPS 5Y7.07%
EPS Q2Q%11.87%
Revenue 1Y (TTM)6.39%
Revenue growth 3Y5.27%
Revenue growth 5Y4.27%
Sales Q2Q%7.54%

3.2 Future

CBSH is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.57% yearly.
Based on estimates for the next years, CBSH will show a quite strong growth in Revenue. The Revenue will grow by 8.17% on average per year.
EPS Next Y13.68%
EPS Next 2Y8.48%
EPS Next 3Y10.57%
EPS Next 5YN/A
Revenue Next Year6.68%
Revenue Next 2Y8.89%
Revenue Next 3Y8.17%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
CBSH Yearly Revenue VS EstimatesCBSH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B
CBSH Yearly EPS VS EstimatesCBSH Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4 5

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 13.04, which indicates a correct valuation of CBSH.
Compared to the rest of the industry, the Price/Earnings ratio of CBSH is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 27.42. CBSH is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 11.89, the valuation of CBSH can be described as very reasonable.
67.26% of the companies in the same industry are cheaper than CBSH, based on the Price/Forward Earnings ratio.
CBSH is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.94, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.04
Fwd PE 11.89
CBSH Price Earnings VS Forward Price EarningsCBSH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

CBSH's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 14.57
EV/EBITDA N/A
CBSH Per share dataCBSH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

CBSH's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.95
PEG (5Y)1.84
EPS Next 2Y8.48%
EPS Next 3Y10.57%

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6

5. Dividend

5.1 Amount

CBSH has a Yearly Dividend Yield of 2.10%. Purely for dividend investing, there may be better candidates out there.
CBSH's Dividend Yield is slightly below the industry average, which is at 3.61.
Compared to an average S&P500 Dividend Yield of 2.36, CBSH has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.1%

5.2 History

The dividend of CBSH has a limited annual growth rate of 2.95%.
CBSH has paid a dividend for at least 10 years, which is a reliable track record.
CBSH has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)2.95%
Div Incr Years24
Div Non Decr Years24
CBSH Yearly Dividends per shareCBSH Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

CBSH pays out 27.49% of its income as dividend. This is a sustainable payout ratio.
CBSH's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP27.49%
EPS Next 2Y8.48%
EPS Next 3Y10.57%
CBSH Yearly Income VS Free CF VS DividendCBSH Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
CBSH Dividend Payout.CBSH Dividend Payout, showing the Payout Ratio.CBSH Dividend Payout.PayoutRetained Earnings

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COMMERCE BANCSHARES INC

NASDAQ:CBSH (10/20/2025, 1:37:51 PM)

54.12

+0.44 (+0.82%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)07-16 2025-07-16/bmo
Earnings (Next)10-21 2025-10-21/bmo
Inst Owners72.63%
Inst Owner Change0.1%
Ins Owners1.62%
Ins Owner Change0.24%
Market Cap7.21B
Analysts52.31
Price Target70.23 (29.77%)
Short Float %3.4%
Short Ratio5.33
Dividend
Industry RankSector Rank
Dividend Yield 2.1%
Yearly Dividend1.07
Dividend Growth(5Y)2.95%
DP27.49%
Div Incr Years24
Div Non Decr Years24
Ex-Date09-05 2025-09-05 (0.275)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.38%
Min EPS beat(2)2.85%
Max EPS beat(2)7.91%
EPS beat(4)4
Avg EPS beat(4)5.39%
Min EPS beat(4)2.85%
Max EPS beat(4)7.91%
EPS beat(8)8
Avg EPS beat(8)6.94%
EPS beat(12)10
Avg EPS beat(12)4.89%
EPS beat(16)12
Avg EPS beat(16)4.28%
Revenue beat(2)2
Avg Revenue beat(2)0.45%
Min Revenue beat(2)0.31%
Max Revenue beat(2)0.6%
Revenue beat(4)2
Avg Revenue beat(4)-0.32%
Min Revenue beat(4)-1.58%
Max Revenue beat(4)0.6%
Revenue beat(8)3
Avg Revenue beat(8)-0.44%
Revenue beat(12)3
Avg Revenue beat(12)-0.6%
Revenue beat(16)5
Avg Revenue beat(16)-0.62%
PT rev (1m)-0.45%
PT rev (3m)2.14%
EPS NQ rev (1m)0%
EPS NQ rev (3m)5.91%
EPS NY rev (1m)0%
EPS NY rev (3m)5.21%
Revenue NQ rev (1m)0.18%
Revenue NQ rev (3m)2.81%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)2.04%
Valuation
Industry RankSector Rank
PE 13.04
Fwd PE 11.89
P/S 4.21
P/FCF 14.57
P/OCF 13.24
P/B 1.98
P/tB 2.07
EV/EBITDA N/A
EPS(TTM)4.15
EY7.67%
EPS(NY)4.55
Fwd EY8.41%
FCF(TTM)3.71
FCFY6.86%
OCF(TTM)4.09
OCFY7.55%
SpS12.87
BVpS27.32
TBVpS26.12
PEG (NY)0.95
PEG (5Y)1.84
Profitability
Industry RankSector Rank
ROA 1.71%
ROE 15.19%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 32.24%
GM N/A
FCFM 28.86%
ROA(3y)1.55%
ROA(5y)1.42%
ROE(3y)17.15%
ROE(5y)15.34%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.28%
PM growth 5Y0.71%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 5.28
Debt/EBITDA N/A
Cap/Depr 90.76%
Cap/Sales 2.91%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 89.51%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC9.68%
ROIC/WACCN/A
Cap/Depr(3y)134.07%
Cap/Depr(5y)120.81%
Cap/Sales(3y)4.22%
Cap/Sales(5y)3.82%
Profit Quality(3y)96.28%
Profit Quality(5y)113.22%
High Growth Momentum
Growth
EPS 1Y (TTM)14.22%
EPS 3Y1.26%
EPS 5Y7.07%
EPS Q2Q%11.87%
EPS Next Y13.68%
EPS Next 2Y8.48%
EPS Next 3Y10.57%
EPS Next 5YN/A
Revenue 1Y (TTM)6.39%
Revenue growth 3Y5.27%
Revenue growth 5Y4.27%
Sales Q2Q%7.54%
Revenue Next Year6.68%
Revenue Next 2Y8.89%
Revenue Next 3Y8.17%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y21.9%
FCF growth 3Y-0.57%
FCF growth 5Y2.49%
OCF growth 1Y10.27%
OCF growth 3Y-1.12%
OCF growth 5Y2.42%