COMMERCE BANCSHARES INC (CBSH) Fundamental Analysis & Valuation

NASDAQ:CBSH • US2005251036

47.49 USD
-0.81 (-1.68%)
At close: Mar 12, 2026
47.49 USD
0 (0%)
After Hours: 3/12/2026, 8:27:05 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This CBSH fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Taking everything into account, CBSH scores 4 out of 10 in our fundamental rating. CBSH was compared to 381 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 decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

5

1. CBSH Profitability Analysis

1.1 Basic Checks

  • In the past year CBSH was profitable.
  • CBSH had a positive operating cash flow in the past year.
  • 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.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

1.2 Ratios

  • CBSH has a Return On Assets of 1.70%. This is amongst the best in the industry. CBSH outperforms 92.13% of its industry peers.
  • The Return On Equity of CBSH (14.79%) is better than 92.39% of its industry peers.
Industry RankSector Rank
ROA 1.7%
ROE 14.79%
ROIC N/A
ROA(3y)1.61%
ROA(5y)1.56%
ROE(3y)15.54%
ROE(5y)16.31%
ROIC(3y)N/A
ROIC(5y)N/A
CBSH Yearly ROA, ROE, ROICCBSH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • CBSH has a Profit Margin of 31.73%. This is amongst the best in the industry. CBSH outperforms 83.20% of its industry peers.
  • In the last couple of years the Profit Margin of CBSH has grown nicely.
  • CBSH does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 31.73%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.35%
PM growth 5Y4.75%
GM growth 3YN/A
GM growth 5YN/A
CBSH Yearly Profit, Operating, Gross MarginsCBSH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. CBSH Health Analysis

2.1 Basic Checks

  • CBSH does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • CBSH has more shares outstanding than it did 1 year ago.
  • CBSH has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, CBSH has an improved debt to assets ratio.
CBSH Yearly Shares OutstandingCBSH Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
CBSH Yearly Total Debt VS Total AssetsCBSH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • The Debt to FCF ratio of CBSH is 5.07, which is a neutral value as it means it would take CBSH, 5.07 years of fcf income to pay off all of its debts.
  • CBSH has a worse Debt to FCF ratio (5.07) than 69.82% of its industry peers.
  • CBSH has a Debt/Equity ratio of 0.79. This is a neutral value indicating CBSH is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.79, CBSH is doing worse than 82.41% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 5.07
Altman-Z N/A
ROIC/WACCN/A
WACC9.07%
CBSH Yearly LT Debt VS Equity VS FCFCBSH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. CBSH Growth Analysis

3.1 Past

  • CBSH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.65%, which is quite good.
  • Measured over the past years, CBSH shows a quite strong growth in Earnings Per Share. The EPS has been growing by 12.79% on average per year.
  • Looking at the last year, CBSH shows a small growth in Revenue. The Revenue has grown by 6.26% in the last year.
  • CBSH shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.59% yearly.
EPS 1Y (TTM)9.65%
EPS 3Y6.69%
EPS 5Y12.79%
EPS Q2Q%5%
Revenue 1Y (TTM)6.26%
Revenue growth 3Y5.41%
Revenue growth 5Y5.59%
Sales Q2Q%6.46%

3.2 Future

  • The Earnings Per Share is expected to grow by 8.59% on average over the next years. This is quite good.
  • Based on estimates for the next years, CBSH will show a small growth in Revenue. The Revenue will grow by 7.24% on average per year.
EPS Next Y2%
EPS Next 2Y5.8%
EPS Next 3Y8.59%
EPS Next 5YN/A
Revenue Next Year12.09%
Revenue Next 2Y7.65%
Revenue Next 3Y7.24%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B 2B
CBSH Yearly EPS VS EstimatesCBSH Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4 5

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4

4. CBSH Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 11.75, which indicates a very decent valuation of CBSH.
  • CBSH's Price/Earnings ratio is in line with the industry average.
  • CBSH's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.71.
  • CBSH is valuated reasonably with a Price/Forward Earnings ratio of 11.53.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of CBSH indicates a slightly more expensive valuation: CBSH is more expensive than 64.83% of the companies listed in the same industry.
  • CBSH is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.82, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.75
Fwd PE 11.53
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 11.77
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

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CBSH does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)5.86
PEG (5Y)0.92
EPS Next 2Y5.8%
EPS Next 3Y8.59%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. CBSH Dividend Analysis

5.1 Amount

  • CBSH has a Yearly Dividend Yield of 2.14%.
  • CBSH's Dividend Yield is slightly below the industry average, which is at 2.86.
  • Compared to an average S&P500 Dividend Yield of 1.82, CBSH has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.14%

5.2 History

  • The dividend of CBSH has a limited annual growth rate of 1.81%.
  • 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)1.81%
Div Incr Years24
Div Non Decr Years24
CBSH Yearly Dividends per shareCBSH Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 26.79% of the earnings are spent on dividend by CBSH. This is a low number and sustainable payout ratio.
  • CBSH's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP26.79%
EPS Next 2Y5.8%
EPS Next 3Y8.59%
CBSH Yearly Income VS Free CF VS DividendCBSH Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
CBSH Dividend Payout.CBSH Dividend Payout, showing the Payout Ratio.CBSH Dividend Payout.PayoutRetained Earnings

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CBSH Fundamentals: All Metrics, Ratios and Statistics

COMMERCE BANCSHARES INC

NASDAQ:CBSH (3/12/2026, 8:27:05 PM)

After market: 47.49 0 (0%)

47.49

-0.81 (-1.68%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-22
Earnings (Next)04-21
Inst Owners68.99%
Inst Owner Change3.98%
Ins Owners1.54%
Ins Owner Change0.19%
Market Cap6.98B
Revenue(TTM)1.77B
Net Income(TTM)560.87M
Analysts70.67
Price Target62.88 (32.41%)
Short Float %3.43%
Short Ratio3.79
Dividend
Industry RankSector Rank
Dividend Yield 2.14%
Yearly Dividend1.08
Dividend Growth(5Y)1.81%
DP26.79%
Div Incr Years24
Div Non Decr Years24
Ex-Date03-06
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-2.66%
Min EPS beat(2)-5.26%
Max EPS beat(2)-0.05%
EPS beat(4)2
Avg EPS beat(4)1.36%
Min EPS beat(4)-5.26%
Max EPS beat(4)7.91%
EPS beat(8)6
Avg EPS beat(8)4.58%
EPS beat(12)10
Avg EPS beat(12)4.78%
EPS beat(16)11
Avg EPS beat(16)3.79%
Revenue beat(2)0
Avg Revenue beat(2)-1.94%
Min Revenue beat(2)-3.47%
Max Revenue beat(2)-0.42%
Revenue beat(4)2
Avg Revenue beat(4)-0.74%
Min Revenue beat(4)-3.47%
Max Revenue beat(4)0.6%
Revenue beat(8)3
Avg Revenue beat(8)-0.64%
Revenue beat(12)3
Avg Revenue beat(12)-0.81%
Revenue beat(16)4
Avg Revenue beat(16)-0.74%
PT rev (1m)0.08%
PT rev (3m)0.87%
EPS NQ rev (1m)-8.26%
EPS NQ rev (3m)-5.43%
EPS NY rev (1m)-1.72%
EPS NY rev (3m)-5.95%
Revenue NQ rev (1m)2.14%
Revenue NQ rev (3m)1.37%
Revenue NY rev (1m)1.77%
Revenue NY rev (3m)0.85%
Valuation
Industry RankSector Rank
PE 11.75
Fwd PE 11.53
P/S 3.95
P/FCF 11.77
P/OCF 10.81
P/B 1.84
P/tB 1.92
EV/EBITDA N/A
EPS(TTM)4.04
EY8.51%
EPS(NY)4.12
Fwd EY8.67%
FCF(TTM)4.03
FCFY8.49%
OCF(TTM)4.39
OCFY9.25%
SpS12.04
BVpS25.81
TBVpS24.72
PEG (NY)5.86
PEG (5Y)0.92
Graham Number48.44
Profitability
Industry RankSector Rank
ROA 1.7%
ROE 14.79%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 31.73%
GM N/A
FCFM 33.51%
ROA(3y)1.61%
ROA(5y)1.56%
ROE(3y)15.54%
ROE(5y)16.31%
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
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.35%
PM growth 5Y4.75%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF 5.07
Debt/EBITDA N/A
Cap/Depr 93.36%
Cap/Sales 2.98%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 105.62%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC9.07%
ROIC/WACCN/A
Cap/Depr(3y)118.85%
Cap/Depr(5y)124.37%
Cap/Sales(3y)3.77%
Cap/Sales(5y)3.92%
Profit Quality(3y)97.45%
Profit Quality(5y)99.47%
High Growth Momentum
Growth
EPS 1Y (TTM)9.65%
EPS 3Y6.69%
EPS 5Y12.79%
EPS Q2Q%5%
EPS Next Y2%
EPS Next 2Y5.8%
EPS Next 3Y8.59%
EPS Next 5YN/A
Revenue 1Y (TTM)6.26%
Revenue growth 3Y5.41%
Revenue growth 5Y5.59%
Sales Q2Q%6.46%
Revenue Next Year12.09%
Revenue Next 2Y7.65%
Revenue Next 3Y7.24%
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 1Y11.41%
FCF growth 3Y6.23%
FCF growth 5Y0.05%
OCF growth 1Y11.64%
OCF growth 3Y4.87%
OCF growth 5Y0.67%

COMMERCE BANCSHARES INC / CBSH FAQ

Can you provide the ChartMill fundamental rating for COMMERCE BANCSHARES INC?

ChartMill assigns a fundamental rating of 4 / 10 to CBSH.


What is the valuation status for CBSH stock?

ChartMill assigns a valuation rating of 4 / 10 to COMMERCE BANCSHARES INC (CBSH). This can be considered as Fairly Valued.


Can you provide the profitability details for COMMERCE BANCSHARES INC?

COMMERCE BANCSHARES INC (CBSH) has a profitability rating of 5 / 10.


Can you provide the PE and PB ratios for CBSH stock?

The Price/Earnings (PE) ratio for COMMERCE BANCSHARES INC (CBSH) is 11.75 and the Price/Book (PB) ratio is 1.84.


What is the earnings growth outlook for COMMERCE BANCSHARES INC?

The Earnings per Share (EPS) of COMMERCE BANCSHARES INC (CBSH) is expected to grow by 2% in the next year.