Commerce Bancshares, Inc. (CBSH) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2025
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CBSH Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Commerce Bancshares, Inc. (CBSH) trades at a price-to-earnings ratio of 12.8x, with a stock price of $52.13 and trailing twelve-month earnings per share of $4.12.
The current P/E is 18% below its 5-year average of 15.5x. Over the past five years, CBSH's P/E has ranged from a low of 12.1x to a high of 21.3x, placing the current valuation at the 15th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.3x, CBSH is roughly in line with its sector peers. The sector includes 779 companies with P/E ratios ranging from 0.0x to 197.4x.
The PEG ratio of 1.13 (P/E divided by 5% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, CBSH trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our CBSH DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
CBSH P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $10B | 13.0 | 0.66Best | +12% | |
| $10B | 14.4 | 1.59 | +2% | |
| $10B | 16.6 | 5.56 | +1% | |
| $4B | 10.4 | 0.74 | +32% | |
| $4B | 14.1 | 0.81 | +15% | |
| $690M | 10.3Lowest | 1.95 | +3% | |
| $12B | 13.2 | - | +38%Best | |
| $26B | 11.8 | 0.79 | +14% | |
| $28B | 21.2 | - | -3% | |
| $34B | 16.0 | - | -2% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
CBSH Historical P/E Data (1990–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $52.34 | $4.15 | 12.6x | -14% |
| FY2025 Q3 | $59.76 | $4.14 | 14.4x | -1% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $62.17 | $4.15 | 15.0x | +2% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $62.23 | $4.03 | 15.4x | +6% |
| FY2024 Q4 | $62.31 | $3.87 | 16.1x | +10% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $56.57 | $3.66 | 15.5x | +6% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $53.12 | $3.51 | 15.1x | +3% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $50.67 | $3.42 | 14.8x | +1% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $50.87 | $3.46 | 14.7x | +1% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $43.52 | $3.61 | 12.1x | -18% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $44.17 | $3.62 | 12.2x | -17% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $52.93 | $3.52 | 15.0x | +3% |
Average P/E for displayed period: 14.6x
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Start ComparisonCBSH — Frequently Asked Questions
Quick answers to the most common questions about buying CBSH stock.
Is CBSH stock overvalued or undervalued?
CBSH trades at 12.8x P/E, near its 5-year average of 15.5x. The 15th percentile ranking places valuation within normal historical bounds.
How does CBSH's valuation compare to peers?
Commerce Bancshares, Inc. P/E of 12.8x compares to sector median of 13.3x. The discount suggests lower growth expectations or higher risk.
What is CBSH's PEG ratio?
CBSH PEG ratio is 1.13. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 1990-2025.