CBSH Fundamental Analysis - COMMERCE BANCSHARES INC

Fundamental Rating

We assign a fundamental rating of 4 out of 10 to CBSH. CBSH was compared to 391 industry peers in the Banks industry. CBSH has a medium profitability rating, but doesn't score so well on its financial health evaluation. CBSH has a correct valuation and a medium growth rate.

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1. Profitability

1.1 Basic Checks

In the past year CBSH was profitable.

In the past year CBSH had a positive cash flow from operations.

CBSH had positive earnings in each of the past 5 years.

Each year in the past 5 years CBSH had a positive operating cash flow.

1.2 Ratios

Looking at the Return On Assets, with a value of 1.71%, CBSH belongs to the top of the industry, outperforming 93.86% of the companies in the same industry.

CBSH has a better Return On Equity (15.19%) than 93.35% of its industry peers.

		Industry Rank	Sector 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

1.3 Margins

CBSH's Profit Margin of 32.24% is amongst the best of the industry. CBSH outperforms 86.19% of its industry peers.

In the last couple of years the Profit Margin of CBSH has remained more or less at the same level.

CBSH does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.

		Industry Rank	Sector 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

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

CBSH does not have a ROIC to compare to the WACC, probably because it is not profitable.

Compared to 1 year ago, CBSH has less shares outstanding

The number of shares outstanding for CBSH has been reduced compared to 5 years ago.

The debt/assets ratio for CBSH has been reduced compared to a year ago.

2.2 Solvency

The Debt to FCF ratio of CBSH is 5.28, which is a neutral value as it means it would take CBSH, 5.28 years of fcf income to pay off all of its debts.

Looking at the Debt to FCF ratio, with a value of 5.28, CBSH is doing worse than 69.82% of the companies in the same industry.

A Debt/Equity ratio of 0.72 indicates that 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 Rank	Sector Rank
Debt/Equity	0.72
Debt/FCF	5.28
Altman-Z	N/A

ROIC/WACCN/A

WACC9.68%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 14.22% over the past year.

The Earnings Per Share has been growing slightly by 7.07% on average over the past years.

CBSH shows a small growth in Revenue. In the last year, the Revenue has grown by 6.39%.

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

Based on estimates for the next years, CBSH will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.57% on average per year.

The Revenue is expected to grow by 8.17% on average over the next years. This is quite good.

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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 13.01, which indicates a correct valuation of CBSH.

The rest of the industry has a similar Price/Earnings ratio as CBSH.

When comparing the Price/Earnings ratio of CBSH to the average of the S&P500 Index (27.69), we can say CBSH is valued rather cheaply.

CBSH is valuated reasonably with a Price/Forward Earnings ratio of 11.87.

65.73% 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 23.18, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	13.01
Fwd PE	11.87

4.2 Price Multiples

CBSH's Price/Free Cash Flow ratio is in line with the industry average.

		Industry Rank	Sector Rank
P/FCF	14.54
EV/EBITDA	N/A

4.3 Compensation for Growth

The 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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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.10%, CBSH has a reasonable but not impressive dividend return.

CBSH's Dividend Yield is slightly below the industry average, which is at 3.57.

CBSH's Dividend Yield is comparable with the S&P500 average which is at 2.34.

		Industry Rank	Sector 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 their dividend for at least 10 years, which is a reliable track record.

Dividend Growth(5Y)2.95%

Div Incr Years24

Div Non Decr Years24

5.3 Sustainability

CBSH pays out 27.49% of its income as dividend. This is a sustainable payout ratio.

The dividend of CBSH is growing, but earnings are growing more, so the dividend growth is sustainable.

DP27.49%

EPS Next 2Y8.48%

EPS Next 3Y10.57%

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COMMERCE BANCSHARES INC

NASDAQ:CBSH (10/21/2025, 10:35:01 AM)

54.01

-0.01 (-0.02%)

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 Cap7.20B

Analysts52.31

Price Target70.23 (30.03%)

Short Float %3.4%

Short Ratio5.33

Dividend

		Industry Rank	Sector 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 Rank	Sector Rank
PE	13.01
Fwd PE	11.87
P/S	4.2
P/FCF	14.54
P/OCF	13.21
P/B	1.98
P/tB	2.07
EV/EBITDA	N/A

EPS(TTM)4.15

EY7.68%

EPS(NY)4.55

Fwd EY8.43%

FCF(TTM)3.71

FCFY6.88%

OCF(TTM)4.09

OCFY7.57%

SpS12.87

BVpS27.32

TBVpS26.12

PEG (NY)0.95

PEG (5Y)1.84

Profitability

		Industry Rank	Sector 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 Rank	Sector 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%

COMMERCE BANCSHARES INC (CBSH) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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