COMMERCE BANCSHARES INC(NASDAQ:CBSH) stock Fundamental Analysis

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to CBSH. CBSH was compared to 405 industry peers in the Banks industry. There are concerns on the financial health of CBSH while its profitability can be described as average. CBSH does not seem to be growing, but still is valued expensively.

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1. Profitability

1.1 Basic Checks

In the past year CBSH was profitable.

CBSH had a positive operating cash flow in the past year.

CBSH had positive earnings in 4 of the past 5 years.

Of the past 5 years CBSH 4 years had a positive operating cash flow.

1.2 Ratios

CBSH has a better Return On Assets (1.57%) than 92.48% of its industry peers.

CBSH's Return On Equity of 14.42% is amongst the best of the industry. CBSH outperforms 89.97% of its industry peers.

		Industry Rank	Sector Rank
ROA	1.57%
ROE	14.42%
ROIC	N/A

ROA(3y)1.48%

ROA(5y)1.41%

ROE(3y)17%

ROE(5y)14.8%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

CBSH has a Profit Margin of 30.14%. This is amongst the best in the industry. CBSH outperforms 84.71% of its industry peers.

In the last couple of years the Profit Margin of CBSH has remained more or less at the same level.

CBSH does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	30.14%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y5.81%

PM growth 5Y-1.23%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

CBSH does not have a ROIC to compare to the WACC, probably because it is not profitable.

CBSH has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.

2.2 Solvency

CBSH has a debt to FCF ratio of 2.78. This is a good value and a sign of high solvency as CBSH would need 2.78 years to pay back of all of its debts.

Looking at the Debt to FCF ratio, with a value of 2.78, CBSH is in line with its industry, outperforming 50.38% of the companies in the same industry.

A Debt/Equity ratio of 0.64 indicates that CBSH is somewhat dependend on debt financing.

CBSH has a Debt to Equity ratio of 0.64. This is amonst the worse of the industry: CBSH underperforms 81.45% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.64
Debt/FCF	2.78
Altman-Z	N/A

ROIC/WACCN/A

WACC9.09%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

CBSH shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.98%.

The Earnings Per Share has been growing slightly by 7.07% on average over the past years.

EPS 1Y (TTM)7.98%

EPS 3Y1.26%

EPS 5Y7.07%

EPS Q2Q%9.33%

Revenue 1Y (TTM)N/A

Revenue growth 3YN/A

Revenue growth 5YN/A

Sales Q2Q%7.32%

3.2 Future

CBSH is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.37% yearly.

CBSH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.60% yearly.

EPS Next Y3.96%

EPS Next 2Y4.74%

EPS Next 3Y9.37%

EPS Next 5YN/A

Revenue Next Year3.02%

Revenue Next 2Y3.57%

Revenue Next 3Y4.6%

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

CBSH is valuated correctly with a Price/Earnings ratio of 16.53.

CBSH's Price/Earnings ratio is a bit more expensive when compared to the industry. CBSH is more expensive than 71.18% of the companies in the same industry.

CBSH's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.62.

The Price/Forward Earnings ratio is 15.92, which indicates a correct valuation of CBSH.

CBSH's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. CBSH is more expensive than 71.18% of the companies in the same industry.

The average S&P500 Price/Forward Earnings ratio is at 22.70. CBSH is valued slightly cheaper when compared to this.

		Industry Rank	Sector Rank
PE	16.53
Fwd PE	15.92

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of CBSH indicates a somewhat cheap valuation: CBSH is cheaper than 64.16% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	10.89
EV/EBITDA	N/A

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.

PEG (NY)4.18

PEG (5Y)2.34

EPS Next 2Y4.74%

EPS Next 3Y9.37%

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5. Dividend

5.1 Amount

CBSH has a Yearly Dividend Yield of 1.69%.

CBSH's Dividend Yield is slightly below the industry average, which is at 3.19.

Compared to the average S&P500 Dividend Yield of 2.27, CBSH is paying slightly less dividend.

		Industry Rank	Sector Rank
Dividend Yield	1.69%

5.2 History

The dividend of CBSH has a limited annual growth rate of 4.45%.

CBSH has been paying a dividend for at least 10 years, so it has a reliable track record.

CBSH has not decreased their dividend for at least 10 years, which is a reliable track record.

Dividend Growth(5Y)4.45%

Div Incr Years24

Div Non Decr Years24

5.3 Sustainability

CBSH pays out 29.11% of its income as dividend. This is a sustainable payout ratio.

CBSH's earnings are growing more than its dividend. This makes the dividend growth sustainable.

DP29.11%

EPS Next 2Y4.74%

EPS Next 3Y9.37%

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COMMERCE BANCSHARES INC

NASDAQ:CBSH (2/21/2025, 8:05:45 PM)

After market: 63.99 0 (0%)

63.99

-0.91 (-1.4%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)01-22 2025-01-22/bmo

Earnings (Next)04-14 2025-04-14/bmo

Inst Owners71.89%

Inst Owner Change-90.19%

Ins Owners1.66%

Ins Owner Change-0.86%

Market Cap8.58B

Analysts50

Price Target72.76 (13.71%)

Short Float %2.02%

Short Ratio5.15

Dividend

		Industry Rank	Sector Rank
Dividend Yield	1.69%

Yearly Dividend1

Dividend Growth(5Y)4.45%

DP29.11%

Div Incr Years24

Div Non Decr Years24

Ex-Date03-07 2025-03-07 (0.275)

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)10.35%

Min EPS beat(2)4.75%

Max EPS beat(2)15.95%

EPS beat(4)4

Avg EPS beat(4)9.41%

Min EPS beat(4)4.49%

Max EPS beat(4)15.95%

EPS beat(8)7

Avg EPS beat(8)5.64%

EPS beat(12)8

Avg EPS beat(12)3.95%

EPS beat(16)12

Avg EPS beat(16)7.19%

Revenue beat(2)0

Avg Revenue beat(2)-0.85%

Min Revenue beat(2)-1.58%

Max Revenue beat(2)-0.12%

Revenue beat(4)1

Avg Revenue beat(4)-0.44%

Min Revenue beat(4)-1.58%

Max Revenue beat(4)0.14%

Revenue beat(8)1

Avg Revenue beat(8)-0.85%

Revenue beat(12)2

Avg Revenue beat(12)-1.04%

Revenue beat(16)5

Avg Revenue beat(16)-0.5%

PT rev (1m)1.18%

PT rev (3m)0.77%

EPS NQ rev (1m)0.43%

EPS NQ rev (3m)-4.43%

EPS NY rev (1m)0.04%

EPS NY rev (3m)-4.62%

Revenue NQ rev (1m)-0.19%

Revenue NQ rev (3m)-0.19%

Revenue NY rev (1m)0%

Revenue NY rev (3m)0%

Valuation

		Industry Rank	Sector Rank
PE	16.53
Fwd PE	15.92
P/S	5.23
P/FCF	10.89
P/OCF	10.27
P/B	2.5
P/tB	2.62
EV/EBITDA	N/A

EPS(TTM)3.87

EY6.05%

EPS(NY)4.02

Fwd EY6.28%

FCF(TTM)5.87

FCFY9.18%

OCF(TTM)6.23

OCFY9.73%

SpS12.24

BVpS25.58

TBVpS24.39

PEG (NY)4.18

PEG (5Y)2.34

Profitability

		Industry Rank	Sector Rank
ROA	1.57%
ROE	14.42%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	30.14%
GM	N/A
FCFM	48.01%

ROA(3y)1.48%

ROA(5y)1.41%

ROE(3y)17%

ROE(5y)14.8%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y5.81%

PM growth 5Y-1.23%

GM growth 3YN/A

GM growth 5YN/A

F-Score6

Asset Turnover0.05

Health

		Industry Rank	Sector Rank
Debt/Equity	0.64
Debt/FCF	2.78
Debt/EBITDA	N/A
Cap/Depr	89.24%
Cap/Sales	2.9%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	159.25%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score6

WACC9.09%

ROIC/WACCN/A

Cap/Depr(3y)147.73%

Cap/Depr(5y)124.48%

Cap/Sales(3y)4.62%

Cap/Sales(5y)3.89%

Profit Quality(3y)96.58%

Profit Quality(5y)115.86%

High Growth Momentum

Growth

EPS 1Y (TTM)7.98%

EPS 3Y1.26%

EPS 5Y7.07%

EPS Q2Q%9.33%

EPS Next Y3.96%

EPS Next 2Y4.74%

EPS Next 3Y9.37%

EPS Next 5YN/A

Revenue 1Y (TTM)N/A

Revenue growth 3YN/A

Revenue growth 5YN/A

Sales Q2Q%7.32%

Revenue Next Year3.02%

Revenue Next 2Y3.57%

Revenue Next 3Y4.6%

Revenue Next 5YN/A

EBIT growth 1YN/A

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y52.86%

FCF growth 3Y-12.14%

FCF growth 5Y-5.06%

OCF growth 1Y43.72%

OCF growth 3Y-7.82%

OCF growth 5Y-2.43%

COMMERCE BANCSHARES INC (CBSH) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens