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COMMERCE BANCSHARES INC (CBSH) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:CBSH - US2005251036 - Common Stock

53.85 USD
-1.16 (-2.11%)
Last: 1/9/2026, 8:00:01 PM
53.8 USD
-0.05 (-0.09%)
After Hours: 1/9/2026, 8:00:01 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to CBSH. CBSH was compared to 383 industry peers in the Banks industry. CBSH has a medium profitability rating, but doesn't score so well on its financial health evaluation. CBSH is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year CBSH was profitable.
CBSH had a positive operating cash flow in the past year.
In the past 5 years CBSH has always been profitable.
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 200M 400M 600M

1.2 Ratios

With an excellent Return On Assets value of 1.72%, CBSH belongs to the best of the industry, outperforming 93.54% of the companies in the same industry.
The Return On Equity of CBSH (14.75%) is better than 93.02% of its industry peers.
Industry RankSector Rank
ROA 1.72%
ROE 14.75%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

The Profit Margin of CBSH (32.00%) is better than 85.01% of its industry peers.
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%
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 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.
The number of shares outstanding for CBSH has been reduced compared to 1 year ago.
Compared to 5 years ago, CBSH has less shares outstanding
CBSH has a better debt/assets ratio than last year.
CBSH Yearly Shares OutstandingCBSH Yearly Shares OutstandingYearly Shares Outstanding 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

CBSH has a debt to FCF ratio of 13.13. This is a negative value and a sign of low solvency as CBSH would need 13.13 years to pay back of all of its debts.
The Debt to FCF ratio of CBSH (13.13) is worse than 80.36% of its industry peers.
A Debt/Equity ratio of 0.66 indicates that CBSH is somewhat dependend on debt financing.
The Debt to Equity ratio of CBSH (0.66) is worse than 80.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 13.13
Altman-Z N/A
ROIC/WACCN/A
WACC9.76%
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 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 1B 2B 3B

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5

3. Growth

3.1 Past

CBSH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.82%, 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.
The Revenue has been growing slightly by 5.92% in the past year.
Measured over the past years, CBSH shows a small growth in Revenue. The Revenue has been growing by 4.27% on average per year.
EPS 1Y (TTM)10.82%
EPS 3Y1.26%
EPS 5Y7.07%
EPS Q2Q%4.02%
Revenue 1Y (TTM)5.92%
Revenue growth 3Y5.27%
Revenue growth 5Y4.27%
Sales Q2Q%4.65%

3.2 Future

The Earnings Per Share is expected to grow by 8.06% on average over the next years. This is quite good.
CBSH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.57% yearly.
EPS Next Y11.75%
EPS Next 2Y6.5%
EPS Next 3Y8.06%
EPS Next 5YN/A
Revenue Next Year6.21%
Revenue Next 2Y8.62%
Revenue Next 3Y7.57%
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 stable.
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.
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 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 1 2 3 4

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3

4. Valuation

4.1 Price/Earnings Ratio

CBSH is valuated correctly with a Price/Earnings ratio of 13.50.
The rest of the industry has a similar Price/Earnings ratio as CBSH.
Compared to an average S&P500 Price/Earnings ratio of 27.19, CBSH is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 12.89, the valuation of CBSH can be described as correct.
Based on the Price/Forward Earnings ratio, CBSH is valued a bit more expensive than 67.18% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.92, CBSH is valued a bit cheaper.
Industry RankSector Rank
PE 13.5
Fwd PE 12.89
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

Based on the Price/Free Cash Flow ratio, CBSH is valued more expensive than 80.36% of the companies in the same industry.
Industry RankSector Rank
P/FCF 39.59
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 PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.15
PEG (5Y)1.91
EPS Next 2Y6.5%
EPS Next 3Y8.06%

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6

5. Dividend

5.1 Amount

CBSH has a Yearly Dividend Yield of 1.91%.
CBSH's Dividend Yield is slightly below the industry average, which is at 2.90.
Compared to an average S&P500 Dividend Yield of 1.92, CBSH has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.91%

5.2 History

The dividend of CBSH has a limited annual growth rate of 1.95%.
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)1.95%
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 0.2 0.4 0.6 0.8 1

5.3 Sustainability

CBSH pays out 26.71% 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.
DP26.71%
EPS Next 2Y6.5%
EPS Next 3Y8.06%
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 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 (1/9/2026, 8:00:01 PM)

After market: 53.8 -0.05 (-0.09%)

53.85

-1.16 (-2.11%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-16 2025-10-16/bmo
Earnings (Next)01-15 2026-01-15/amc
Inst Owners77.39%
Inst Owner Change0.08%
Ins Owners1.71%
Ins Owner Change0.33%
Market Cap7.49B
Revenue(TTM)1.74B
Net Income(TTM)556.37M
Analysts70.67
Price Target62.4 (15.88%)
Short Float %N/A
Short Ratio4.64
Dividend
Industry RankSector Rank
Dividend Yield 1.91%
Yearly Dividend1.02
Dividend Growth(5Y)1.95%
DP26.71%
Div Incr Years24
Div Non Decr Years24
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.33%
Min EPS beat(2)-5.26%
Max EPS beat(2)7.91%
EPS beat(4)3
Avg EPS beat(4)2.88%
Min EPS beat(4)-5.26%
Max EPS beat(4)7.91%
EPS beat(8)7
Avg EPS beat(8)6.15%
EPS beat(12)10
Avg EPS beat(12)4.72%
EPS beat(16)11
Avg EPS beat(16)3.68%
Revenue beat(2)1
Avg Revenue beat(2)-1.44%
Min Revenue beat(2)-3.47%
Max Revenue beat(2)0.6%
Revenue beat(4)2
Avg Revenue beat(4)-0.79%
Min Revenue beat(4)-3.47%
Max Revenue beat(4)0.6%
Revenue beat(8)3
Avg Revenue beat(8)-0.62%
Revenue beat(12)3
Avg Revenue beat(12)-0.83%
Revenue beat(16)4
Avg Revenue beat(16)-0.98%
PT rev (1m)0.1%
PT rev (3m)-11.16%
EPS NQ rev (1m)0.22%
EPS NQ rev (3m)-7.99%
EPS NY rev (1m)-4.77%
EPS NY rev (3m)-6.38%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.55%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.44%
Valuation
Industry RankSector Rank
PE 13.5
Fwd PE 12.89
P/S 4.31
P/FCF 39.59
P/OCF 30.92
P/B 1.99
P/tB 2.07
EV/EBITDA N/A
EPS(TTM)3.99
EY7.41%
EPS(NY)4.18
Fwd EY7.76%
FCF(TTM)1.36
FCFY2.53%
OCF(TTM)1.74
OCFY3.23%
SpS12.5
BVpS27.13
TBVpS25.98
PEG (NY)1.15
PEG (5Y)1.91
Graham Number49.35
Profitability
Industry RankSector Rank
ROA 1.72%
ROE 14.75%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 32%
GM N/A
FCFM 10.88%
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
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-5.28%
PM growth 5Y0.71%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 13.13
Debt/EBITDA N/A
Cap/Depr 95.86%
Cap/Sales 3.05%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 33.99%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC9.76%
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)10.82%
EPS 3Y1.26%
EPS 5Y7.07%
EPS Q2Q%4.02%
EPS Next Y11.75%
EPS Next 2Y6.5%
EPS Next 3Y8.06%
EPS Next 5YN/A
Revenue 1Y (TTM)5.92%
Revenue growth 3Y5.27%
Revenue growth 5Y4.27%
Sales Q2Q%4.65%
Revenue Next Year6.21%
Revenue Next 2Y8.62%
Revenue Next 3Y7.57%
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 1Y-48.34%
FCF growth 3Y-0.57%
FCF growth 5Y2.49%
OCF growth 1Y-47.05%
OCF growth 3Y-1.12%
OCF growth 5Y2.42%

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 3 / 10 to COMMERCE BANCSHARES INC (CBSH). This can be considered as Overvalued.


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 13.5 and the Price/Book (PB) ratio is 1.99.


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 11.75% in the next year.