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Financials · CBSH

Commerce Bancshares Inc. (CBSH) financials

For the twelve months ended Sep 30, 2026, Commerce Bancshares Inc. reported $1.92B of revenue and $597.07M of net income.

Revenue, TTM
$1.92B
Revenue growth, YoY
+10.4%
Net income, TTM
$597.07M
Net income growth, YoY
+6.3%
Net margin
31.1%
Free cash flow, TTM
$1.28B
Cash
$2.40B
P/E
13.22
P/S
4.11
Market cap
$7.89B
Annual revenue$1.76B
FY2016FY2025
Annual net income$566.25M
FY2016FY2025
Annual free cash flow$592.39M
FY2016FY2025

CBSH revenue and earnings growth

CBSH revenueQ3 2026$494.34M

Quarter YoY
+12.1%
QoQ
-0.9%
FY YoY
+6.5%
5Y CAGR
+5.7%
10Y CAGR
+5.0%

CBSH revenue was $494.34M in fiscal Q3 2026 (ended Sep 30, 2026), up 12.1% from a year earlier and down 0.9% from the prior quarter. For the full fiscal 2025 it was $1.76B, up 6.5% from fiscal 2024. Compound annual growth was +5.7% over 5 years and +5.0% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

CBSH net incomeQ3 2026$154.99M

Quarter YoY
+9.5%
QoQ
-3.0%
FY YoY
+7.6%
5Y CAGR
+9.8%
10Y CAGR
+7.9%

CBSH net income was $154.99M in fiscal Q3 2026 (ended Sep 30, 2026), up 9.5% from a year earlier and down 3.0% from the prior quarter. For the full fiscal 2025 it was $566.25M, up 7.6% from fiscal 2024. Compound annual growth was +9.8% over 5 years and +7.9% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

CBSH EPSQ3 2026$1.08

Quarter YoY
+6.9%
QoQ
-1.8%
FY YoY
+9.5%
5Y CAGR
+8.9%
10Y CAGR
+5.7%

CBSH diluted EPS was $1.08 in fiscal Q3 2026 (ended Sep 30, 2026), up 6.9% from a year earlier and down 1.8% from the prior quarter. For the full fiscal 2025 it was $4.04, up 9.5% from fiscal 2024. Compound annual growth was +8.9% over 5 years and +5.7% over 10 years.

CBSH free cash flowQ3 2026$181.04M

Quarter YoY
+59.8%
QoQ
+7.1%
FY YoY
+11.4%
5Y CAGR
+0.1%
10Y CAGR
+8.6%

CBSH free cash flow was $181.04M in fiscal Q3 2026 (ended Sep 30, 2026), up 59.8% from a year earlier and up 7.1% from the prior quarter. For the full fiscal 2025 it was $592.39M, up 11.4% from fiscal 2024. Compound annual growth was +0.1% over 5 years and +8.6% over 10 years. It rose in 5 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$1.76B$1.66B$1.57B$1.49B$1.40B$1.34B$1.35B$1.33B$1.19B$1.13B
Interest expense--$383.16M$56.79M$12.87M$42.80M$103.39M$65.38M$43.73M$33.00M
Pre-tax income$731.84M$679.49M$619.73M$632.38M$686.30M$441.18M$531.79M$544.16M$430.41M$401.00M
Income tax$161.14M$145.09M$134.55M$132.36M$145.71M$87.29M$109.07M$105.95M$110.51M$124.15M
Net income$566.25M$526.33M$477.06M$488.40M$530.76M$354.06M$421.23M$433.54M$319.38M$275.39M
EPS, basic$4.04$3.69$3.30$3.50$3.92$2.64$3.25$3.44$2.63$2.38
EPS, diluted$4.04$3.69$3.30$3.50$3.91$2.64$3.25$3.43$2.62$2.37

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$3.55B$3.38B$2.69B$897.80M$4.30B$2.21B$907.81M$1.21B$524.35M$801.64M
Goodwill$146.54M$146.54M$146.54M$138.92M$138.92M$138.92M$138.92M$138.92M$138.92M$138.92M
Total assets$32.92B$32.00B$31.70B$31.88B$36.69B$32.92B$26.07B$25.46B$24.83B$25.64B
Long-term debt--------$1.80M-
Total debt--------$1.80M-
Total liabilities$29.10B$28.66B$28.74B$29.39B$33.24B$29.52B$22.93B$22.53B$22.12B$23.14B
Shareholders' equity$3.79B$3.33B$2.96B$2.48B$3.45B$3.40B$3.14B$2.94B$2.72B$2.50B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$645.14M$577.86M$488.77M$559.38M$597.72M$623.99M$512.79M$552.66M$426.53M$454.96M
Capital expenditures$52.75M$46.13M$88.07M$65.19M$56.72M$33.13M$42.58M$33.29M$30.82M$24.48M
Free cash flow$592.39M$531.73M$400.69M$494.19M$541.01M$590.86M$470.22M$519.37M$395.70M$430.49M
Investing cash flow-$462.37M$483.79M$2.18B$242.27M-$2.08B-$5.39B-$730.16M-$91.02M$220.72M-$805.21M
Financing cash flow-$11.04M-$372.94M-$883.12M-$4.20B$3.57B$6.07B-$84.06M$223.25M-$924.54M$649.17M
Dividends paid$150.24M$145.09M$134.73M$127.47M$122.69M$120.82M$113.47M$100.24M$91.62M$87.07M
Share repurchases$207.57M$170.47M$76.37M$186.62M$129.36M$54.16M$134.90M$75.23M$17.77M$39.38M
Stock-based compensation$17.27M$17.03M$17.05M$17.00M$15.41M$14.91M$13.85M$12.84M$12.11M$11.53M
Depreciation and amortization$56.50M$54.08M$49.51M$46.86M$44.87M$43.77M$41.15M$38.68M$39.73M$40.93M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY6.5%5.4%5.5%6.7%4.5%-0.8%1.6%10.9%6.1%4.1%
Net income growth, YoY7.6%10.3%-2.3%-8.0%49.9%-15.9%-2.8%35.7%16.0%4.4%
EPS growth, YoY9.5%11.8%-5.7%-10.5%48.1%-18.8%-5.2%30.9%10.5%2.2%
Net margin32.1%31.8%30.4%32.8%38.0%26.5%31.3%32.7%26.7%24.4%
Free cash flow margin33.6%32.1%25.5%33.2%38.8%44.2%34.9%39.2%33.1%38.2%
Return on equity14.9%15.8%16.1%19.7%15.4%10.4%13.4%14.8%11.7%11.0%
Return on assets1.7%1.6%1.5%1.5%1.4%1.1%1.6%1.7%1.3%1.1%
Debt to equity--------0.00-

Source: XBRL data Commerce Bancshares Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

CBSH peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
CBSH$1.92B+10.4%$597.07M31.1%$7.89B
JPM$203.15B+13.2%$65.98B32.5%$888.26B
BAC$120.16B+5.4%$32.24B26.8%$340.97B
WFC$87.23B+5.4%$22.97B26.3%$251.98B
C$85.22B+5.6%$14.31B16.8%$199.70B
UBS$49.57B+2.0%$7.80B15.7%$148.27B
COF$63.01B+31.2%$10.87B17.2%$121.43B
MFG¥8.79T+7.6%¥1.16T13.2%$116.96B
BNSC$37.74B+12.1%C$7.79B20.6%$112.48B

CBSH FAQ

7 questions
  • What is CBSH revenue?
    Commerce Bancshares Inc. (CBSH) reported $1.92B of revenue for the twelve months ended Sep 30, 2026. That is up 10.4% from the year before. Revenue for fiscal 2025 was $1.76B.
  • Is CBSH profitable?
    Yes. Commerce Bancshares Inc. earned $597.07M in net income for the twelve months ended Sep 30, 2026, a net margin of 31.1%.
  • How much cash and debt does CBSH have?
    Commerce Bancshares Inc. reported $2.40B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is CBSH revenue growing?
    Commerce Bancshares Inc.'s revenue changed +6.5% in fiscal 2025, to $1.76B. Its compound annual growth rate was +5.7% over 5 years and +5.0% over 10 years.
  • What is CBSH free cash flow?
    Commerce Bancshares Inc. generated $1.28B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.35B less capital expenditures.
  • When did CBSH last report financial results?
    The latest statements here come from Commerce Bancshares Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this CBSH financial data come from?
    Quantisnow builds these statements from the structured XBRL data Commerce Bancshares Inc. files with the SEC. It is provided for information only and is not investment advice.