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Data is in US dollars, converted at the ECB reference rate of Oct 23, 2026.

Commerce Bancshares Inc /Mo/

CBSH Nasdaq State Commercial Banks Financials FY2016–FY2025

Last close · Oct 23, 2026

$56.07

0.8%
Compare
Revenue Total sales reported in the income statement.
$1.8B
6.5% vs prior year
Efficiency ratio Noninterest expense as a share of revenue. Lower is better for banks.
55.5%
1.9 pts
Net income Profit after all expenses, interest and tax.
$566M
7.6%
Return on equity Net income as a share of average shareholders' equity.
15.9%
0.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
—
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
13.7x
On $4.08 EPS (TTM)

What Commerce Bancshares Inc /Mo/ does

No business description yet.

Legal name
COMMERCE BANCSHARES INC /MO/
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Feb 24, 2026
Accession · CIK
0000022356-26-000069
0000022356

Revenue and margins

Commerce Bancshares Inc /Mo/ had $1.8B of revenue in fiscal 2025, up 6.5% on the year before.

Revenue
Revenue
Net interest income share and efficiency ratio
Net interest share Efficiency ratio
Net interest income share and efficiency ratio
Net interest share Efficiency ratio

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 6.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns and efficiency

For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.

Return on equity, return on tangible equity and efficiency ratio
ROE ROTE Efficiency ratio

Dividends, buybacks and share count

Commerce Bancshares Inc /Mo/ returned $358M to shareholders in fiscal 2025, 60% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Loans, deposits and capital at each fiscal year end.

Loans and deposits
Loans Deposits
Fiscal year endFY21FY22FY23FY24FY25
Loans, net $15.0B$16.2B$17.0B$17.1B$17.6B
Deposits $29.8B$26.2B$25.4B$25.3B$25.6B
Loans / deposits 50.4%61.7%67.2%67.4%68.6%
Total assets $36.7B$31.9B$31.7B$32.0B$32.9B
Shareholders' equity $3.4B$2.5B$2.9B$3.3B$3.8B
Goodwill $139M$139M$147M$147M$147M
Intangible assets $15.6M$15.2M$14.2M$13.6M$13.3M
Provision / loans −0.4%0.2%0.2%0.2%0.3%

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

10 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.1B $1.2B $1.3B $1.3B $1.3B $1.4B $1.5B $1.6B $1.7B $1.8B
Net interest income $680M $734M $824M $821M $830M $835M $942M $998M $1.0B $1.1B
Noninterest income $447M $461M $501M $525M $506M $560M $547M $573M $616M $652M
Noninterest expense $689M $744M $738M $767M $768M $806M $849M $931M $951M $980M
Provision for credit losses $36.3M $45.2M $42.7M $50.4M $137M −$66.3M $28.1M $35.5M $32.9M $56.1M
Interest expense $33.0M $43.7M $65.4M $103M $42.8M $12.9M $56.8M $383M — —
Pretax income $401M $430M $544M $532M $441M $686M $632M $620M $679M $732M
Income tax $124M $111M $106M $109M $87.3M $146M $132M $135M $145M $161M
Net income $275M $319M $434M $421M $354M $531M $488M $477M $526M $566M
Net income to common $266M $310M $425M $412M $342M $531M $488M — — —
Diluted EPS $2.37 $2.62 $3.43 $3.25 $2.64 $3.91 $3.50 $3.30 $3.69 $4.04
Cash flow
Cash from operations $455M $427M $553M $513M $624M $598M $559M $489M $578M $645M
Capital expenditure $24.5M $30.8M $33.3M $42.6M $33.1M $56.7M $65.2M $88.1M $46.1M $52.7M
Free cash flow $430M $396M $519M $470M $591M $541M $494M $401M $532M $592M
Depreciation and amortization $40.9M $39.7M $38.7M $41.1M $43.8M $44.9M $46.9M $49.5M $54.1M $56.5M
Stock-based compensation $11.5M $12.1M $12.8M $13.9M $14.9M $15.4M $17.0M $17.1M $17.0M $17.3M
Acquisitions — — — — — $0.0M $0.0M $6.4M $0.0M $0.0M
Share buybacks $39.4M $17.8M $75.2M $135M $54.2M $129M $187M $76.4M $170M $208M
Dividends paid $87.1M $91.6M $100M $113M $121M $123M $127M $135M $145M $150M
Dividends and buybacks $126M $109M $175M $248M $175M $252M $314M $211M $316M $358M
Balance sheet
Cash and short-term investments $782M $512M $1.2B $908M $2.2B $4.3B $898M $2.7B $3.4B $3.5B
Total debt — $1.8M — — — — — — — —
Loans, net $13.3B $13.8B $14.0B $14.6B $16.1B $15.0B $16.2B $17.0B $17.1B $17.6B
Deposits $21.1B $20.4B $20.3B $20.5B $26.9B $29.8B $26.2B $25.4B $25.3B $25.6B
Property and equipment, net $338M $335M $333M $371M $371M $389M $419M $469M $475M $486M
Goodwill $139M $139M $139M $139M $139M $139M $139M $147M $147M $147M
Intangible assets $6.7M $7.6M $8.8M $9.5M $11.2M $15.6M $15.2M $14.2M $13.6M $13.3M
Total assets $25.6B $24.8B $25.5B $26.1B $32.9B $36.7B $31.9B $31.7B $32.0B $32.9B
Total liabilities $23.1B $22.1B $22.5B $22.9B $29.5B $33.2B $29.4B $28.7B $28.7B $29.1B
Shareholders' equity $2.5B $2.7B $2.9B $3.1B $3.4B $3.4B $2.5B $2.9B $3.3B $3.8B
Margins
Net margin 24.4% 26.7% 32.7% 31.3% 26.5% 38.0% 32.8% 30.4% 31.8% 32.1%
FCF margin 38.2% 33.1% 39.2% 34.9% 44.2% 38.8% 33.2% 25.5% 32.1% 33.6%
Net interest share of revenue 60.4% 61.4% 62.2% 61.0% 62.1% 59.9% 63.3% 63.5% 62.8% 63.0%
Efficiency ratio 61.2% 62.3% 55.7% 57.0% 57.5% 57.7% 57.0% 59.3% 57.4% 55.5%
Returns
Return on equity 11.0% 12.3% 15.4% 13.9% 10.8% 15.5% 16.5% 17.6% 16.8% 15.9%
Return on assets 1.1% 1.3% 1.7% 1.6% 1.2% 1.5% 1.4% 1.5% 1.7% 1.7%
Return on tangible equity 11.3% 12.1% 15.3% 13.8% 10.5% 16.2% 21.1% 17.1% 16.7% 15.6%
Growth
Revenue growth — 6.1% 10.9% 1.6% −0.8% 4.5% 6.7% 5.5% 5.4% 6.5%
Net income growth — 16.0% 35.7% −2.8% −15.9% 49.9% −8.0% −2.3% 10.3% 7.6%
EPS growth — 10.5% 30.9% −5.2% −18.8% 48.1% −10.5% −5.7% 11.8% 9.5%
FCF growth — −8.1% 31.3% −9.5% 25.7% −8.4% −8.7% −18.9% 32.7% 11.4%
Financial health
Debt / equity — 0.0x — — — — — — — —
Loans / deposits 62.8% 67.7% 68.8% 71.0% 59.8% 50.4% 61.7% 67.2% 67.4% 68.6%
Provision / loans 0.3% 0.3% 0.3% 0.3% 0.9% −0.4% 0.2% 0.2% 0.2% 0.3%
Capital allocation
Capex / revenue 2.2% 2.6% 2.5% 3.2% 2.5% 4.1% 4.4% 5.6% 2.8% 3.0%
Stock comp / revenue 1.0% 1.0% 1.0% 1.0% 1.1% 1.1% 1.1% 1.1% 1.0% 1.0%
Payouts / FCF 29.4% 27.6% 33.8% 52.8% 29.6% 46.6% 63.6% 52.7% 59.3% 60.4%
Quality scores
Accruals ratio −0.7% −0.4% −0.5% −0.4% −0.9% −0.2% −0.2% −0.0% −0.2% −0.2%

Source: SEC EDGAR XBRL filings (CIK 0000022356). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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