CBSH
Commerce Bancshares Inc
NASDAQ: CBSH · FINANCIAL SERVICES · BANKS - REGIONAL
$52.03
+1.56% today
Updated 2026-04-30
Market cap
$7.48B
P/E ratio
12.59
P/S ratio
4.20x
EPS (TTM)
$4.07
Dividend yield
2.04%
52W range
$47 – $62
Volume
1.3M
Commerce Bancshares Inc (CBSH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.19B | $1.31B | $1.23B | $1.18B | $1.14B | $1.10B | $1.08B | $1.06B | $1.10B | $1.12B | $1.16B | $1.26B | $1.39B | $1.45B | $1.39B | $1.44B | $1.57B | $1.97B | $2.09B | $2.14B |
| Revenue growth (YoY) | — | +9.5% | -6.3% | -3.8% | -3.5% | -3.2% | -1.7% | -1.7% | +3.3% | +1.6% | +3.8% | +9.0% | +10.0% | +4.5% | -4.4% | +3.5% | +8.8% | +25.8% | +6.3% | +2.2% |
| Cost of revenue | $344.76M | $440.76M | $366.01M | $314.71M | $183.55M | $103.42M | $65.35M | $51.27M | $57.62M | $56.82M | $69.32M | $88.97M | $108.07M | $153.83M | $179.99M | $-53.46M | $84.86M | $418.61M | $462.21M | $428.00M |
| Gross profit | $849.17M | $866.92M | $859.55M | $863.87M | $954.33M | $998.28M | $1.02B | $1.01B | $1.04B | $1.06B | $1.09B | $1.17B | $1.28B | $1.30B | $1.21B | $1.49B | $1.48B | $1.55B | $1.63B | $1.71B |
| Gross margin | 71.1% | 66.3% | 70.1% | 73.3% | 83.9% | 90.6% | 94.0% | 95.2% | 94.8% | 94.9% | 94.0% | 93.0% | 92.2% | 89.4% | 87.0% | 103.7% | 94.6% | 78.7% | 77.9% | 80.0% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — | — |
| SG&A | $288.27M | $393.27M | $427.38M | $467.10M | $460.84M | $449.00M | $467.46M | $378.03M | $395.72M | $412.85M | $440.64M | $566.10M | $574.81M | $492.93M | $512.99M | $534.34M | $564.63M | $617.23M | $624.34M | $704.28M |
| Operating income | $323.75M | $300.40M | $274.46M | $242.13M | $318.12M | $381.04M | $398.61M | $384.31M | $384.43M | $383.56M | $401.00M | $430.41M | $544.16M | $531.79M | $441.18M | $686.30M | $632.38M | $619.73M | $679.49M | $731.84M |
| Operating margin | 27.1% | 23.0% | 22.4% | 20.5% | 28.0% | 34.6% | 36.8% | 36.1% | 35.0% | 34.3% | 34.6% | 34.1% | 39.1% | 36.6% | 31.7% | 47.7% | 40.4% | 31.5% | 32.5% | 34.2% |
| EBITDA | $384.50M | $352.87M | $325.16M | $293.65M | $367.05M | $427.78M | $442.06M | $426.26M | $426.74M | $426.37M | $441.93M | $470.14M | $582.84M | $572.93M | $484.95M | $731.17M | $679.23M | $669.24M | $733.57M | $770.03M |
| EBITDA margin | 32.2% | 27.0% | 26.5% | 24.9% | 32.3% | 38.8% | 40.8% | 40.1% | 38.8% | 38.2% | 38.1% | 37.2% | 41.9% | 39.4% | 34.9% | 50.8% | 43.4% | 34.0% | 35.0% | 36.0% |
| EBIT | $323.75M | $300.40M | $274.46M | $242.13M | $318.12M | $381.04M | $398.61M | $384.31M | $384.43M | $383.56M | $401.00M | $430.41M | $544.16M | $531.79M | $441.18M | $686.30M | $632.38M | $619.73M | $679.49M | $731.84M |
| Interest expense | $319.11M | $398.03M | $257.11M | $154.01M | $83.55M | $51.90M | $38.06M | $30.91M | $28.09M | $28.10M | $33.00M | $43.73M | $65.38M | $103.39M | $42.80M | $12.87M | $56.79M | $383.16M | $429.31M | $371.87M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $219.84M | $206.66M | $188.66M | $169.07M | $221.71M | $256.34M | $269.33M | $260.96M | $261.75M | $263.73M | $275.39M | $319.38M | $433.54M | $421.23M | $354.06M | $530.76M | $488.40M | $477.06M | $526.33M | $566.25M |
| Net income growth (YoY) | — | -6.0% | -8.7% | -10.4% | +31.1% | +15.6% | +5.1% | -3.1% | +0.3% | +0.8% | +4.4% | +16.0% | +35.7% | -2.8% | -15.9% | +49.9% | -8.0% | -2.3% | +10.3% | +7.6% |
| Profit margin | 18.4% | 15.8% | 15.4% | 14.3% | 19.5% | 23.3% | 24.9% | 24.5% | 23.8% | 23.6% | 23.7% | 25.3% | 31.2% | 29.0% | 25.5% | 36.9% | 31.2% | 24.2% | 25.1% | 26.5% |