(CBSH) Commerce Bancshares - Overview
Sector: Financial Services | Industry: Banks - Regional | Exchange: NASDAQ (USA) | Market Cap: 7.427m USD | Total Return: -11.3% in 12m
Avg Turnover: 58.1M
EPS Trend: 80.9%
Qual. Beats: 1
Rev. Trend: 90.8%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Shakeout
Commerce Bancshares, Inc. (CBSH) is a Kansas City-based bank holding company operating primarily through its subsidiary, Commerce Bank. Established in 1865, the firm provides a diversified suite of financial services organized into three core segments: Retail Banking, Commercial, and Wealth. Its operations encompass consumer and mortgage lending, corporate financing, asset management, and specialized services such as patient healthcare financing and private equity investment.
As a regional bank, CBSH relies on a traditional spread-based business model, generating revenue from the difference between interest earned on loans and interest paid on deposits. Unlike many smaller peers, the company maintains a significant non-interest income stream through its robust commercial card and wealth management divisions, which provides a buffer against interest rate volatility. Regional banks in the United States are currently navigating a landscape of heightened regulatory scrutiny and shifting deposit costs.
For a deeper look into the companys valuation and historical performance, consider reviewing the detailed metrics available on ValueRay. Investors should monitor the firms credit quality and net interest margin trends across its diverse Midwestern footprint.
- Net interest margin sensitivity to Federal Reserve benchmark rate fluctuations
- Growth in fee-based revenue from wealth management and payment services
- Credit quality stability across regional commercial and consumer loan portfolios
- Expense management efficacy amid rising labor and technology infrastructure costs
- Regulatory capital requirements impacting dividend sustainability and share repurchase programs
| Net Income: 576.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.07 > 1.0 |
| NWC/Revenue: 300.9% < 20% (prev -1.05k%; Δ 1.35k% < -1%) |
| CFO/TA 0.03 > 3% & CFO 1.19b > Net Income 576.3m |
| Net Debt (-4.30b) to EBITDA (787.7m): -5.46 < 3 |
| Current Ratio: 3.58 > 1.5 & < 3 |
| Outstanding Shares: last quarter (145.9m) vs 12m ago 8.62% < -2% |
| Gross Margin: 80.71% > 18% (prev 0.78%; Δ 7.99k% > 0.5%) |
| Asset Turnover: 6.48% > 50% (prev 6.49%; Δ -0.01% > 0%) |
| Interest Coverage Ratio: 2.01 > 6 (EBITDA TTM 787.7m / Interest Expense TTM 373.3m) |
| A: 0.19 (Total Current Assets 9.22b - Total Current Liabilities 2.58b) / Total Assets 35.7b |
| B: 0.01 (Retained Earnings 233.1m / Total Assets 35.7b) |
| C: 0.02 (EBIT TTM 749.5m / Avg Total Assets 34.0b) |
| D: 0.01 (Book Value of Equity 436.1m / Total Liabilities 31.4b) |
| Altman-Z'' = 1.40 = BB |
As of May 24, 2026, the stock is trading at USD 52.19 with a total of 1,186,650 shares traded.
Over the past week, the price has changed by +2.79%,
over one month by +3.50%,
over three months by +0.79% and
over the past year by -11.34%.
Commerce Bancshares has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold CBSH.
- StrongBuy: 0
- Buy: 0
- Hold: 7
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 58.7 | 12.5% |
P/E Forward = 12.837
P/S = 4.1678
P/B = 1.7584
P/EG = 2.0554
Revenue TTM = 2.21b USD
EBIT TTM = 749.5m USD
EBITDA TTM = 787.7m USD
Long Term Debt = 12.8m USD (from longTermDebt, last fiscal year)
Short Term Debt = 2.58b USD (from shortTermDebt, last quarter)
Debt = 2.58b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -4.30b USD (calculated: Debt 2.58b - CCE 6.89b)
Enterprise Value = 3.13b USD (7.43b + Debt 2.58b - CCE 6.89b)
Interest Coverage Ratio = 2.01 (Ebit TTM 749.5m / Interest Expense TTM 373.3m)
EV/FCF = 5.15x (Enterprise Value 3.13b / FCF TTM 606.5m)
FCF Yield = 19.40% (FCF TTM 606.5m / Enterprise Value 3.13b)
FCF Margin = 27.47% (FCF TTM 606.5m / Revenue TTM 2.21b)
Net Margin = 26.11% (Net Income TTM 576.3m / Revenue TTM 2.21b)
Gross Margin = 80.71% ((Revenue TTM 2.21b - Cost of Revenue TTM 425.9m) / Revenue TTM)
Gross Margin QoQ = 81.57% (prev 80.39%)
Tobins Q-Ratio = 0.09 (Enterprise Value 3.13b / Total Assets 35.7b)
Interest Expense / Debt = 14.44% (Interest Expense 373.3m / Debt 2.58b)
Taxrate = 22.07% (40.9m / 185.3m)
NOPAT = 584.1m (EBIT 749.5m * (1 - 22.07%))
Current Ratio = 0.33 (Total Current Assets 9.22b / Total Current Liabilities 27.7b)
Debt / Equity = 0.60 (Debt 2.58b / totalStockholderEquity, last quarter 4.30b)
Debt / EBITDA = -5.46 (Net Debt -4.30b / EBITDA 787.7m)
Debt / FCF = -7.09 (Net Debt -4.30b / FCF TTM 606.5m)
Total Stockholder Equity = 3.88b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.69% (Net Income 576.3m / Total Assets 35.7b)
RoE = 14.87% (Net Income TTM 576.3m / Total Stockholder Equity 3.88b)
RoCE = 19.27% (EBIT 749.5m / Capital Employed (Equity 3.88b + L.T.Debt 12.8m))
RoIC = 1.64% (NOPAT 584.1m / Invested Capital 35.5b)
WACC = 9.04% (E(7.43b)/V(10.0b) * Re(8.27%) + D(2.58b)/V(10.0b) * Rd(14.44%) * (1-Tc(0.22)))
Discount Rate = 8.27% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -20.0 | Cagr: 2.98%
[DCF] Terminal Value 73.83% ; FCFF base≈593.3m ; Y1≈624.1m ; Y5≈725.5m
[DCF] Fair Price = 98.05 (EV 9.99b - Net Debt -4.30b = Equity 14.3b / Shares 145.8m; r=9.04% [WACC]; 5y FCF grow 5.74% → 2.50% )
EPS Correlation: 80.91 | EPS CAGR: 3.31% | SUE: 2.52 | # QB: 1
Revenue Correlation: 90.81 | Revenue CAGR: 6.17% | SUE: 0.78 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.04 | Chg30d=+2.13% | Revisions=+11% | Analysts=6
EPS next Quarter (2026-09-30): EPS=1.04 | Chg30d=+0.42% | Revisions=-9% | Analysts=7
EPS current Year (2026-12-31): EPS=4.14 | Chg30d=+2.37% | Revisions=+20% | GrowthEPS=+2.5% | GrowthRev=+10.8%
EPS next Year (2027-12-31): EPS=4.38 | Chg30d=+0.72% | Revisions=-45% | GrowthEPS=+7.5% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: -45%