CBSHNasdaqState Commercial BanksFiscal year ends December 31
COMMERCE BANCSHARES INC /MO/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$55.69+0.13 (+0.23%)
Close on Oct 16, 2026
- Market cap
- –
- P/E (TTM)
- 13.8
- Dividend yield
- 1.88%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
32.1%+5.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +6.5% | +5.8% | +5.7% | +5.0% | |
| Net income | +7.6% | +5.1% | +9.8% | +7.9% | |
| EPS, diluted | +9.5% | +4.9% | +8.9% | +5.7% | |
| Free cash flow | +11.4% | +6.2% | +0.1% | +8.6% | |
| Dividend per share | +6.9% | +4.6% | +2.4% | +3.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.3% | 10.8% | 15.9% | |
| Return on assets | 1.1% | 1.2% | 1.7% | |
| Capex to revenue | 2.2% | 2.5% | 3.0% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Commerce Bancshares generated $2.87B from operations and spent $1.76B on capital expenditure, dividends and share buybacks. 18% of that went back into the business.
Generated
$2.87B
Used
$1.76B
Capital expenditure$308.86M18%Dividends$680.22M39%Share buybacks$770.39M44%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin32.1%
×Asset turnover0.05×
×Equity multiplier9.14×
=Return on equity, FY202515.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 32.1% | 0.05× | 9.14× | 15.9% |
| FY2024 | 31.8% | 0.05× | 10.19× | 16.8% |
| FY2023 | 30.4% | 0.05× | 11.75× | 17.6% |
| FY2022 | 32.8% | 0.04× | 11.62× | 16.5% |
| FY2021 | 38.0% | 0.04× | 10.19× | 15.5% |
| FY2020 | 26.5% | 0.05× | 9.03× | 10.8% |
| FY2019 | 31.3% | 0.05× | 8.49× | 13.9% |
| FY2018 | 32.7% | 0.05× | 8.91× | 15.4% |
| FY2017 | 26.7% | 0.05× | 9.68× | 12.3% |
| FY2016 | 24.4% | 0.04× | 10.34× | 11.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$566.25M
- Cash generatingOperating cash flow above zero$645.14M
- Return on assets improvedROA up on the prior year1.7% → 1.8%
- Earnings backed by cashOperating cash flow above net income$645.14M vs $566.25M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.05 → 0.06