Stock CBSH COMMERCE BANCSHARES, INC.
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Financials Commerce Bancshares, Inc.

Equities

CBSH

US2005251036

Banks

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
55.41 USD -0.05% Intraday chart for Commerce Bancshares, Inc. +2.90% +3.74%
Apr. 19 North American Morning Briefing : Stock Futures -2- DJ
Apr. 18 Commerce Bancshares Board Approves Share Repurchase Program MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 7,655 7,695 8,385 8,531 6,970 7,186 - -
Enterprise Value (EV) 1 7,655 7,695 8,385 8,531 6,970 7,186 7,186 7,186
P/E ratio 19 x 22.6 x 15.9 x 17.7 x 14.7 x 14.7 x 15.9 x 12.7 x
Yield 1.46% 1.57% 1.45% 1.48% 1.93% 1.97% 2.13% 2.69%
Capitalization / Revenue 5.63 x 5.71 x 5.96 x 5.62 x 4.41 x 4.45 x 4.4 x 4.11 x
EV / Revenue 5.63 x 5.71 x 5.96 x 5.62 x 4.41 x 4.45 x 4.4 x 4.11 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.54 x 2.26 x 2.42 x 3.43 x 2.35 x 2.21 x 2.12 x 1.67 x
Nbr of stocks (in thousands) 136,964 135,583 134,483 131,586 130,503 129,695 - -
Reference price 2 55.89 56.75 62.35 64.83 53.41 55.41 55.41 55.41
Announcement Date 1/22/20 1/20/21 1/19/22 1/19/23 1/18/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,360 1,349 1,408 1,519 1,580 1,614 1,633 1,748
EBITDA - - - - - - - -
EBIT 1 581.2 580.3 601.6 670.1 573 663.6 629.2 -
Operating Margin 42.73% 43.03% 42.74% 44.12% 36.28% 41.12% 38.52% -
Earnings before Tax (EBT) 1 531.8 441.2 686.3 632.4 619.7 587.4 567.5 -
Net income 1 412.2 342.1 530.8 488.4 477.1 484.2 439.7 -
Net margin 30.31% 25.37% 37.71% 32.16% 30.2% 30.01% 26.92% -
EPS 2 2.945 2.514 3.909 3.667 3.640 3.770 3.484 4.350
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.8145 0.8889 0.9070 0.9619 1.029 1.094 1.182 1.490
Announcement Date 1/22/20 1/20/21 1/19/22 1/19/23 1/18/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 354.4 358.1 343.2 374.4 387.3 402.4 390.7 402.8 393.9 395.4 399.9 400.9 403.9 405.4 401.9
EBITDA - - - - - - - - - - - - - - -
EBIT 1 142.7 154.5 137.5 160.9 174.4 185.7 166.6 175.1 165.9 144.9 154.2 166.2 165.6 164.6 156.4
Operating Margin 40.28% 43.15% 40.07% 42.98% 45.03% 46.14% 42.64% 43.49% 42.12% 36.64% 38.56% 41.46% 40.99% 40.61% 38.9%
Earnings before Tax (EBT) 1 160.4 149.1 151.9 152.2 160.1 168.2 153.4 166.5 156.1 143.8 147.1 144 145.7 144.8 137.6
Net income 1 122.6 114.9 118.2 115.8 122.8 131.6 119.5 127.8 120.6 109.2 112.7 140.2 113.7 112.3 107.5
Net margin 34.59% 32.09% 34.43% 30.92% 31.72% 32.71% 30.57% 31.73% 30.62% 27.62% 28.17% 34.98% 28.16% 27.71% 26.75%
EPS 2 0.9070 0.8526 0.8798 0.8708 0.9252 0.9905 0.9048 0.9714 0.9143 0.8400 0.8600 1.161 0.8771 0.8643 0.8217
Dividend per Share 2 0.2272 0.2268 0.2404 0.2404 0.2404 0.2400 0.2571 0.2571 0.2571 0.2570 0.2700 0.2700 0.2700 0.2700 0.2933
Announcement Date 10/19/21 1/19/22 4/19/22 7/21/22 10/18/22 1/19/23 4/18/23 7/19/23 10/18/23 1/18/24 4/16/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 14.1% 10.6% 15.4% 17.3% 17.9% 15% 13.7% 13.9%
ROA (Net income/ Total Assets) 1.67% 1.2% 1.55% 1.45% 1.49% 1.51% 1.42% -
Assets 1 24,684 28,508 34,243 33,683 32,017 32,109 30,928 -
Book Value Per Share 2 22.00 25.10 25.80 18.90 22.80 25.10 26.20 33.20
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/22/20 1/20/21 1/19/22 1/19/23 1/18/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Commerce Bancshares, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
55.41 USD
Average target price
55.75 USD
Spread / Average Target
+0.61%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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