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. While CBSH is still in line with the averages on profitability rating, there are concerns on its financial health. While showing a medium growth rate, CBSH is valued expensive at the moment.

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1. Profitability

1.1 Basic Checks

CBSH had positive earnings in the past year.

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

Each year in the past 5 years CBSH has been profitable.

In the past 5 years CBSH always reported a positive cash flow from operatings.

1.2 Ratios

CBSH has a Return On Assets of 1.57%. This is amongst the best in the industry. CBSH outperforms 92.71% of its industry peers.

CBSH has a Return On Equity of 14.42%. This is amongst the best in the industry. CBSH outperforms 90.95% 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 better Profit Margin (30.14%) than 84.92% of its industry peers.

CBSH's Profit Margin has been stable in the last couple of years.

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.

The number of shares outstanding for CBSH has been increased compared to 1 year ago.

CBSH has more shares outstanding than it did 5 years ago.

Compared to 1 year ago, CBSH has a worse debt to assets ratio.

2.2 Solvency

The Debt to FCF ratio of CBSH is 2.78, which is a good value as it means it would take CBSH, 2.78 years of fcf income to pay off all of its debts.

CBSH has a Debt to FCF ratio (2.78) which is in line with its industry peers.

CBSH has a Debt/Equity ratio of 0.64. This is a neutral value indicating CBSH is somewhat dependend on debt financing.

CBSH has a worse Debt to Equity ratio (0.64) than 81.91% of its industry peers.

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

ROIC/WACCN/A

WACC9.24%

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 5.00%.

CBSH shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 4.90% yearly.

The Revenue has been growing slightly by 3.52% in the past year.

The Revenue has been growing slightly by 3.67% on average over the past years.

EPS 1Y (TTM)5%

EPS 3Y15.51%

EPS 5Y4.9%

EPS Q2Q%17.03%

Revenue 1Y (TTM)3.52%

Revenue growth 3Y5.61%

Revenue growth 5Y3.67%

Sales Q2Q%7.63%

3.2 Future

CBSH is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.40% yearly.

The Revenue is expected to grow by 3.53% on average over the next years.

EPS Next Y8.27%

EPS Next 2Y2.23%

EPS Next 3Y4.4%

EPS Next 5YN/A

Revenue Next Year5.49%

Revenue Next 2Y3.25%

Revenue Next 3Y3.53%

Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 17.47 indicates a rather expensive valuation of CBSH.

70.85% of the companies in the same industry are cheaper than CBSH, based on the Price/Earnings ratio.

The average S&P500 Price/Earnings ratio is at 28.29. CBSH is valued slightly cheaper when compared to this.

With a Price/Forward Earnings ratio of 17.65, CBSH is valued on the expensive side.

73.62% of the companies in the same industry are cheaper than CBSH, based on the Price/Forward Earnings ratio.

Compared to an average S&P500 Price/Forward Earnings ratio of 24.44, CBSH is valued a bit cheaper.

		Industry Rank	Sector Rank
PE	17.47
Fwd PE	17.65

4.2 Price Multiples

CBSH's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. CBSH is cheaper than 61.31% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	11.29
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)2.11

PEG (5Y)3.57

EPS Next 2Y2.23%

EPS Next 3Y4.4%

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5. Dividend

5.1 Amount

CBSH has a Yearly Dividend Yield of 1.61%. Purely for dividend investing, there may be better candidates out there.

CBSH's Dividend Yield is slightly below the industry average, which is at 3.22.

Compared to the average S&P500 Dividend Yield of 2.28, CBSH is paying slightly less dividend.

		Industry Rank	Sector Rank
Dividend Yield	1.61%

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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.

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 slower than its dividend. This means the dividend growth is not sustainable.

DP29.11%

EPS Next 2Y2.23%

EPS Next 3Y4.4%

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COMMERCE BANCSHARES INC

NASDAQ:CBSH (1/22/2025, 10:23:06 AM)

66.055

+0.58 (+0.88%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)10-17 2024-10-17/bmo

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

Inst Owners71.94%

Inst Owner Change0.19%

Ins Owners1.68%

Ins Owner Change-1.82%

Market Cap8.89B

Analysts50

Price Target71.91 (8.86%)

Short Float %N/A

Short Ratio4.88

Dividend

		Industry Rank	Sector Rank
Dividend Yield	1.61%

Yearly Dividend1

Dividend Growth(5Y)4.45%

DP29.11%

Div Incr Years24

Div Non Decr Years24

Ex-DateN/A

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)-0.4%

PT rev (3m)6.31%

EPS NQ rev (1m)-4.84%

EPS NQ rev (3m)12.16%

EPS NY rev (1m)-0.05%

EPS NY rev (3m)-3.11%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)4.68%

Revenue NY rev (1m)0%

Revenue NY rev (3m)0.06%

Valuation

		Industry Rank	Sector Rank
PE	17.47
Fwd PE	17.65
P/S	5.42
P/FCF	11.29
P/OCF	10.64
P/B	2.59
P/tB	2.72
EV/EBITDA	N/A

EPS(TTM)3.78

EY5.72%

EPS(NY)3.74

Fwd EY5.67%

FCF(TTM)5.85

FCFY8.86%

OCF(TTM)6.21

OCFY9.4%

SpS12.19

BVpS25.49

TBVpS24.3

PEG (NY)2.11

PEG (5Y)3.57

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

WACC9.24%

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)5%

EPS 3Y15.51%

EPS 5Y4.9%

EPS Q2Q%17.03%

EPS Next Y8.27%

EPS Next 2Y2.23%

EPS Next 3Y4.4%

EPS Next 5YN/A

Revenue 1Y (TTM)3.52%

Revenue growth 3Y5.61%

Revenue growth 5Y3.67%

Sales Q2Q%7.63%

Revenue Next Year5.49%

Revenue Next 2Y3.25%

Revenue Next 3Y3.53%

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