Last 48 quarters of trend data · Financial Services · Regional Banks
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.11 | 12.67 | 13.01 | 12.68 | 12.83 | 14.79 | 13.63 | 15.88 | 15.42 | 13.87 | 13.02 | 15.45 | 15.90 | 12.51 | 11.87 | 15.39 | 16.25 | 16.24 | 17.08 | 18.40 | 18.33 |
| — | -14.3% | -4.6% | -20.1% | -16.8% | +6.7% | +4.7% | +2.8% | -3.0% | +10.9% | +9.7% | +0.4% | -2.2% | -23.0% | -30.5% | -16.4% | -11.3% | -2.6% | +27.0% | +6.3% | +23.4% | |
| P/S Ratio | 4.38 | 3.94 | 5.21 | 3.68 | 3.98 | 4.41 | 4.62 | 4.97 | 4.92 | 4.47 | 4.29 | 4.32 | 4.33 | 3.81 | 3.81 | 4.72 | 5.30 | 5.08 | 5.31 | 6.27 | 6.08 |
| — | -10.7% | +12.7% | -25.9% | -19.1% | -1.4% | +7.7% | +15.0% | +13.7% | +17.4% | +12.7% | -8.4% | -18.2% | -25.0% | -28.3% | -24.8% | -12.9% | -8.9% | -11.9% | -1.6% | +12.9% | |
| P/B Ratio | 2.00 | 1.85 | 1.90 | 1.66 | 1.89 | 2.09 | 2.25 | 2.39 | 2.50 | 2.20 | 2.27 | 2.32 | 2.34 | 2.32 | 2.27 | 2.74 | 3.42 | 3.33 | 2.96 | 2.93 | 2.44 |
| — | -11.5% | -15.5% | -30.6% | -24.5% | -5.2% | -0.8% | +3.0% | +6.7% | -5.1% | -0.0% | -15.2% | -31.4% | -30.3% | -23.2% | -6.7% | +40.2% | +42.8% | +17.9% | +8.6% | +7.8% | |
| P/FCF | 6.37 | 10.75 | 12.32 | 2.64 | 7.81 | 17.47 | 20.50 | 16.58 | — | 4.54 | 12.92 | 13.80 | 16.46 | 11.94 | 20.90 | 19.11 | 29.84 | 11.88 | 13.35 | 20.02 | 22.77 |
| — | -38.5% | -39.9% | -84.0% | — | +285.2% | +58.7% | +20.1% | — | -62.0% | -38.2% | -27.7% | -44.9% | +0.5% | +56.6% | -4.5% | +31.1% | -16.2% | -30.4% | +70.6% | +74.9% | |
| EV / EBITDA | 12.21 | 10.21 | 11.19 | 11.14 | 11.41 | 9.36 | 9.17 | 10.34 | 10.52 | 8.64 | 9.28 | 11.66 | 11.45 | 10.48 | 9.84 | 15.06 | 14.60 | 13.41 | 13.90 | 14.44 | 11.16 |
| — | +9.0% | +22.0% | +7.7% | +8.5% | +8.3% | -1.2% | -11.3% | -8.1% | -17.6% | -5.7% | -22.6% | -21.6% | -21.8% | -29.2% | +4.3% | +30.8% | +12.7% | +44.4% | +19.4% | +3.7% | |
| EV / EBIT | 13.97 | 10.21 | 12.31 | 12.40 | 12.82 | 10.07 | 9.82 | 11.19 | 11.34 | 9.31 | 9.98 | 12.71 | 12.47 | 11.32 | 10.59 | 16.20 | 15.60 | 14.39 | 14.98 | 15.57 | 12.01 |
| — | +1.3% | +25.3% | +10.8% | +13.1% | +8.2% | -1.5% | -12.0% | -9.1% | -17.8% | -5.8% | -21.5% | -20.0% | -21.3% | -29.3% | +4.1% | +29.9% | +13.2% | +47.8% | +20.4% | +4.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.8% | 98.0% | 99.7% | 97.8% | 96.5% | 95.5% | 98.7% | 96.6% | 96.8% | 97.9% | 98.7% | 98.8% | 98.5% | 97.1% | 98.4% | 97.1% | 96.1% | 96.1% | 98.1% | 102.8% | 102.0% |
| — | +2.6% | +1.0% | +1.2% | -0.4% | -2.4% | +0.1% | -2.3% | -1.8% | +0.8% | +0.3% | +1.8% | +2.5% | +1.0% | +0.3% | -5.6% | -5.8% | -5.8% | -12.9% | +1.0% | +0.8% | |
| Operating Margin | 41.4% | 40.1% | 51.5% | 38.0% | 40.5% | 41.2% | 44.0% | 39.9% | 41.1% | 42.0% | 43.1% | 37.0% | 35.9% | 39.4% | 41.6% | 39.4% | 42.0% | 41.2% | 40.8% | 43.7% | 43.1% |
| — | -2.5% | +17.0% | -4.6% | -1.4% | -1.9% | +2.1% | +7.7% | +14.6% | +6.4% | +3.7% | -6.2% | -14.6% | -4.3% | +1.8% | -9.7% | -2.6% | -6.3% | -29.8% | -7.1% | -6.8% | |
| Net Margin | 32.0% | 31.4% | 39.9% | 29.1% | 31.1% | 31.5% | 34.2% | 31.3% | 32.2% | 32.5% | 33.4% | 28.3% | 27.2% | 30.5% | 31.9% | 30.7% | 32.9% | 31.6% | 31.1% | 34.0% | 33.2% |
| — | -0.6% | +16.8% | -7.1% | -3.3% | -2.8% | +2.4% | +10.4% | +18.1% | +6.5% | +4.7% | -7.7% | -17.1% | -3.7% | +2.7% | -9.6% | -1.1% | -5.9% | -30.4% | -8.8% | -8.6% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.8% | 3.6% | 3.7% | 3.5% | 3.7% | 3.8% | 4.3% | 3.9% | 4.0% | 4.2% | 4.6% | 3.8% | 3.9% | 4.6% | 4.8% | 4.6% | 5.4% | 4.9% | 4.1% | 3.7% | 3.3% |
| — | -5.1% | -13.9% | -9.7% | -7.8% | -9.0% | -6.6% | +1.4% | +2.2% | -8.5% | -4.3% | -17.8% | -27.6% | -6.2% | +16.1% | +25.7% | +63.8% | +38.7% | -14.0% | -5.6% | -14.5% | |
| ROA | 1.7% | 0.4% | 0.5% | 0.4% | 0.4% | 0.4% | 0.5% | 0.4% | 0.4% | 0.4% | 0.5% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.3% | 0.3% |
| — | +0.9% | -4.6% | +0.9% | +0.6% | -1.4% | +3.0% | +12.6% | +23.8% | +18.4% | +16.2% | -2.9% | -15.2% | +1.0% | +16.5% | +13.4% | +26.5% | +3.7% | -30.0% | -16.7% | -20.0% | |
| ROIC | 8.4% | 2.2% | 2.2% | 2.0% | 2.1% | 2.2% | 2.4% | 2.1% | 2.2% | 2.4% | 2.4% | 1.9% | 1.8% | 1.9% | 1.8% | 1.9% | 2.5% | 2.5% | 2.2% | 1.9% | 1.8% |
| — | -2.1% | -6.9% | -2.0% | -4.1% | -6.3% | -0.0% | +6.2% | +19.1% | +25.0% | +31.0% | +4.0% | -26.9% | -24.6% | -17.5% | -3.4% | +37.7% | +20.2% | -22.0% | -16.1% | -22.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.79 | 0.64 | 0.56 | 0.60 | 0.79 | 0.65 | 0.71 | 0.69 | 0.88 | 0.63 | 0.81 | 0.85 | 0.98 | 1.25 | 1.45 | 1.60 | 1.15 | 0.98 | 0.84 | 0.78 | 0.88 |
| — | -1.7% | -21.5% | -13.6% | -10.4% | +3.1% | -11.8% | -18.3% | -10.5% | -49.2% | -44.1% | -47.1% | -14.6% | +27.9% | +72.7% | +104.5% | +30.5% | +51.1% | +26.1% | +33.7% | +42.6% | |
| Debt / EBITDA | 3.81 | 13.67 | 10.83 | 12.53 | 14.58 | 12.48 | 12.43 | 13.33 | 15.62 | 11.41 | 13.20 | 15.64 | 18.58 | 19.27 | 21.69 | 26.03 | 15.87 | 13.48 | 13.66 | 14.21 | 18.92 |
| — | +9.5% | -12.9% | -6.0% | -6.7% | +9.5% | -5.9% | -14.7% | -15.9% | -40.8% | -39.1% | -39.9% | +17.1% | +42.9% | +58.8% | +83.2% | -16.1% | +2.4% | +31.0% | +29.3% | +59.2% | |
| Current Ratio | — | 0.39 | 3.69 | 3.58 | — | 0.19 | 0.43 | 0.22 | 0.44 | 0.45 | 0.41 | 0.41 | 0.44 | 0.43 | 0.46 | 0.47 | 0.45 | 0.46 | 0.48 | 0.52 | 0.57 |
| — | +105.4% | +760.1% | +1519.6% | — | -58.1% | +4.0% | -46.1% | +1.3% | +3.6% | -11.1% | -12.9% | -2.9% | -5.2% | -4.2% | -9.1% | -21.0% | -15.2% | -8.6% | +2.1% | +13.2% | |
| Quick Ratio | — | 0.39 | 3.69 | 3.58 | — | 0.19 | 0.43 | 0.22 | 0.44 | 0.45 | 0.41 | 0.41 | 0.44 | 0.43 | 0.46 | 0.47 | 0.45 | 0.46 | 0.48 | 0.52 | 0.57 |
| — | +105.4% | +760.1% | +1519.6% | — | -58.1% | +4.0% | -46.1% | +1.3% | +3.6% | -11.1% | -12.9% | -2.9% | -5.2% | -4.2% | -9.1% | -21.0% | -15.2% | -8.6% | +2.1% | +13.2% | |
| Interest Coverage | 1.97 | 2.11 | 2.08 | 1.92 | 2.03 | 1.95 | 2.14 | 1.76 | 1.69 | 1.63 | 1.68 | 1.34 | 1.26 | 1.39 | 1.68 | 2.68 | 5.30 | 9.83 | 26.38 | 50.71 | 52.84 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying CBSH stock.
Commerce Bancshares, Inc.'s current P/E is 13.1x. The average P/E over the last 4 quarters is 12.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Commerce Bancshares, Inc.'s current operating margin is 41.4%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Commerce Bancshares, Inc.'s business trajectory between earnings reports.