COMMERCE BANCSHARES INC /MO/ CBSH

Financials SIC 6022 - State Commercial Banks NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Commercial Banking derived Nasdaq

Commerce Bancshares, Inc., a bank holding company as defined in the Bank Holding Company Act of 1956, as amended, was incorporated under the laws of Missouri on August 4, 1966. Through a second tier wholly-owned bank holding company, it owns all the outstanding capital stock of Commerce Bank (the "Bank"), which is headquartered in Missouri. The Bank engages in general banking business, providing a broad range of retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals, businesses, and municipalities. Commerce Bancshares, Inc. also owns, directly or through the Bank, various non-banking subsidiaries. Their activities include private equity investment, securities brokerage, underwriting, specialty lending, and leasing activities. A list of Commerce Bancshares, Inc.'s subsidiaries is included as Exhibit 21.

Last close 56.07 2026-10-23
Market cap $8.04B 2026-06-30 share count
52-week range 46.99 - 60.92

Valuation FY2025 figures against the last close

P/S5.4x
P/E13.9x
P/FCF13.6x
EV/EBITDA—
Dividend yield1.9%
Diluted EPS4.04

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.48B$1.47B$1.38B$999.0M$848.3M$872.6M$924.7M$889.2M$777.4M$713.1M
Interest expense $1.11B$1.04B$998.1M$942.2M$12.9M$42.8M$103.4M$65.4M$43.7M$33.0M
Pre-tax income $731.8M$679.5M$619.7M$632.4M$686.3M$441.2M$531.8M$544.2M$430.4M$401.0M
Income tax $161.1M$145.1M$134.5M$132.4M$145.7M$87.3M$109.1M$105.9M$110.5M$124.2M
Net income $566.3M$526.3M$477.1M$488.4M$530.8M$354.1M$421.2M$433.5M$319.4M$275.4M
EPS, basic 4.043.693.303.503.922.643.253.442.632.38
EPS, diluted 4.043.693.303.503.912.643.253.432.622.37

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.55B$3.38B$2.69B$897.8M$4.30B$2.21B$907.8M$1.21B$524.4M$801.6M
Property, plant and equipment $485.7M$475.3M$469.1M$418.9M$388.7M$371.1M$370.6M$333.1M$335.1M$337.7M
Goodwill $146.5M$146.5M$146.5M$138.9M$138.9M$138.9M$138.9M$138.9M$138.9M$138.9M
Other intangibles $13.3M$13.6M$14.2M$15.2M$15.6M$11.2M$9.5M$8.8M$7.6M$6.7M
Total assets $32.92B$32.00B$31.70B$31.88B$36.69B$32.92B$26.07B$25.46B$24.83B$25.64B
Total liabilities $29.10B$28.66B$28.74B$29.39B$33.24B$29.52B$22.93B$22.53B$22.12B$23.14B
Retained earnings $131.8M$45.5M$53.2M$31.6M$92.5M$73.0M$201.6M$241.2M$221.4M$292.8M
Total equity $3.79B$3.31B$2.96B$2.48B$3.45B$3.40B$3.14B$2.94B$2.72B$2.50B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $645.1M$577.9M$488.8M$559.4M$597.7M$624.0M$512.8M$552.7M$426.5M$455.0M
Depreciation and amortisation $56.5M$54.1M$49.5M$46.9M$44.9M$43.8M$41.1M$38.7M$39.7M$40.9M
Stock-based compensation $17.3M$17.0M$17.1M$17.0M$15.4M$14.9M$13.9M$12.8M$12.1M$11.5M
Capital expenditure $52.7M$46.1M$88.1M$65.2M$56.7M$33.1M$42.6M$33.3M$30.8M$24.5M
Investing cash flow -$462.4M$483.8M$2.18B$242.3M-$2.08B-$5.39B-$730.2M-$91.0M$220.7M-$805.2M
Financing cash flow -$11.0M-$372.9M-$883.1M-$4.20B$3.57B$6.07B-$84.1M$223.3M-$924.5M$649.2M
Dividends paid $150.2M$145.1M$134.7M$127.5M$122.7M$120.8M$113.5M$100.2M$91.6M$87.1M
Buybacks $207.6M$170.5M$76.4M$186.6M$129.4M$54.2M$134.9M$75.2M$17.8M$39.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000022356-26-000069.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Revenue, FY2016: 713.1M Net income, FY2016: 275.4M Revenue, FY2017: 777.4M Net income, FY2017: 319.4M Revenue, FY2018: 889.2M Net income, FY2018: 433.5M Revenue, FY2019: 924.7M Net income, FY2019: 421.2M Revenue, FY2020: 872.6M Net income, FY2020: 354.1M Revenue, FY2021: 848.3M Net income, FY2021: 530.8M Revenue, FY2022: 999M Net income, FY2022: 488.4M Revenue, FY2023: 1.4B Net income, FY2023: 477.1M Revenue, FY2024: 1.5B Net income, FY2024: 526.3M Revenue, FY2025: 1.5B Net income, FY2025: 566.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $713.1M $777.4M $889.2M $924.7M $872.6M $848.3M $999.0M $1.38B $1.47B $1.48B
Gross profit — — — — — — — — — —
Net income $275.4M $319.4M $433.5M $421.2M $354.1M $530.8M $488.4M $477.1M $526.3M $566.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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