US · CBSH
Commerce Bancshares, Inc.
- Sector
- Financial Services · Banks - Regional
- Headquarters
- Kansas City, MO 64106
- Website
- commercebank.com
Price · as of 2025-12-31
$52.03
Market cap 7.51B
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $31.72 | -39.04% |
| Intrinsic Value(DCF) | $53.66 | +3.13% |
| Graham-Dodd Method(GD) | $30.40 | -41.57% |
| Graham Formula(GF) | $41.72 | -19.81% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $17.93 | $37.77 | $25.63 | $12.50 | $7.61 |
| 2012 | $19.59 | $36.47 | $50.15 | $1.29 | $10.38 |
| 2013 | $24.95 | $44.69 | $51.92 | $13.12 | $10.54 |
| 2014 | $25.01 | $38.52 | $55.37 | $13.58 | $18.28 |
| 2015 | $28.36 | $35.57 | $58.66 | $13.81 | $16.51 |
| 2016 | $37.08 | $44.80 | $61.71 | $15.26 | $21.57 |
| 2017 | $39.75 | $46.94 | $60.96 | $17.70 | $35.50 |
| 2018 | $41.86 | $49.27 | $62.69 | $22.30 | $51.50 |
| 2019 | $40.94 | $45.88 | $62.73 | $22.28 | $36.02 |
| 2020 | $60.91 | $40.29 | $75.94 | $21.80 | $9.72 |
| 2021 | $57.02 | $41.43 | $104.58 | $29.13 | $43.52 |
| 2022 | $49.48 | $47.26 | $99.57 | $20.63 | $58.38 |
| 2023 | $46.07 | $46.77 | $122.92 | $23.15 | $114.60 |
| 2024 | $58.18 | $44.71 | $117.31 | $26.93 | $55.07 |
| 2025 | $51.74 | $31.72 | $78.45 | $30.40 | $41.72 |
AI valuation
Our deep-learning model estimates Commerce Bancshares, Inc.'s (CBSH) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $31.72
- Current price
- $52.03
- AI upside
- -39.04%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$53.66
+3.13% upside
Graham-Dodd
$30.40
-41.57% upside
Graham Formula
$41.72
-19.81% upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| CBSH | Commerce Bancshares, Inc. | $52.03 | 7.51B | -39% | +3% | -42% | -20% | 12.59 | 1.90 | 3.36 | 0.38 | 232.07 | 1.98 | 80.00% | 34.20% | 26.46% | 16.07% | -12.17% | 1.76% | 0.79 | 1.97 | — | — | 2.86 | 543.00% | 223.00% | 1141.00% | 8.24% | — | -12.63% | 2.09% | 26.30% | 4.98% | 0.40 | 0.49 | 0.14 | 0.65 |
| BOKF | BOK Financial Corporation | $125.72 | 7.95B | -22% | -8% | -28% | -46% | 13.54 | 1.32 | 2.35 | 6.82 | 106.00 | 1.62 | 63.74% | 21.39% | 17.38% | 10.08% | -147.87% | 1.13% | 0.78 | 0.59 | 0.17 | 0.16 | 3.75 | 1278.00% | -107.00% | -5976.00% | 7.35% | 0.01 | -147.27% | 1.88% | 25.50% | 7.72% | 7.61 | 9.40 | 1.63 | -0.65 |
| BPOP | Popular, Inc. | $135.36 | 9.03B | -48% | +66% | -47% | +21% | 10.59 | 1.16 | 1.55 | -20.08 | 76.56 | 1.39 | 60.67% | 19.01% | 14.66% | 11.42% | -3.43% | 0.85% | 0.23 | 0.57 | 0.38 | 0.38 | -6.41 | 1383.00% | 1148.00% | -361.00% | 7.09% | 0.01 | -2.58% | 2.77% | 29.40% | 6.06% | -21.59 | -37.29 | -4.11 | -0.43 |
| CADE | Cadence Bank | $42.11 | 7.85B | -28% | +264% | -49% | +166% | 10.26 | 0.96 | 1.85 | -4.12 | — | 1.30 | 59.29% | 23.29% | 18.03% | 9.75% | -16.97% | 1.09% | 0.01 | 0.61 | 0.22 | 0.22 | -1.93 | -514.00% | 3237.00% | 6693.00% | 14.45% | 0.02 | -25.17% | 3.58% | 36.70% | 38.75% | -5.35 | -4.66 | -1.25 | -0.53 |
| CFR | Cullen/Frost Bankers, Inc… | $138.22 | 8.74B | -43% | +51% | -56% | -24% | 13.85 | 1.96 | 3.08 | 4.38 | 116.98 | 1.96 | 75.04% | 26.43% | 22.21% | 15.31% | -7.45% | 1.23% | 1.04 | 1.13 | 0.21 | 0.21 | -4.77 | 1184.00% | 246.00% | -8522.00% | 1.42% | 0.01 | -1.46% | 2.92% | 40.40% | 4.68% | 4.88 | 29.57 | 1.29 | -0.52 |
| ONB | Old National Bancorp | $23.10 | 9.03B | +172% | +188% | -38% | +142% | 13.65 | 1.08 | 2.46 | 15.09 | 208.45 | 1.63 | 63.60% | 23.56% | 18.04% | 9.02% | 8.09% | 1.06% | 0.88 | 0.72 | 0.89 | 0.88 | 7.01 | 655.00% | 2548.00% | 767.00% | 6.98% | 0.01 | 7.42% | 2.46% | 33.60% | 3.25% | 16.88 | 23.16 | 3.98 | 0.07 |
| PB | Prosperity Bancshares, In… | $70.37 | 6.86B | -39% | +3% | +3% | -35% | 12.35 | 0.88 | 3.86 | -2.16 | 93.07 | 1.65 | 71.88% | 39.90% | 31.23% | 7.21% | -36.05% | 1.39% | 0.28 | 1.42 | 0.81 | 5.02 | 2.17 | 1327.00% | -23.00% | 2169.00% | 8.20% | 0.26 | -36.49% | 0.00% | 0.00% | 0.00% | -2.65 | -3.34 | -1.06 | 0.36 |
| PNFP | Pinnacle Financial Partne… | $90.76 | 6.98B | -38% | +1% | -18% | +56% | 16.94 | 1.25 | 2.82 | 2.43 | — | 1.76 | 49.08% | 20.37% | 16.65% | 7.62% | 39.84% | 0.94% | 0.39 | 0.44 | 0.21 | 0.21 | -1.19 | -1653.00% | 1532.00% | 10175.00% | 10.03% | 0.02 | 67.70% | 1.05% | 17.70% | 19.13% | 2.85 | 2.05 | 0.58 | -0.50 |
| SNV | Synovus Financial Corp. | $50.05 | 6.95B | -44% | -10% | -55% | -38% | 13.65 | 1.25 | 1.91 | -3.19 | — | 1.38 | 53.84% | 17.67% | 14.09% | 9.25% | -10.56% | 0.80% | 0.36 | 0.42 | 0.22 | 0.22 | -1.67 | -1243.00% | 116.00% | -3883.00% | 11.69% | 0.02 | -16.85% | 3.99% | 54.40% | 9.99% | -3.50 | -2.77 | -0.62 | -0.57 |
| UMBF | UMB Financial Corporation | $115.88 | 8.8B | -15% | +12,140% | +6% | +489% | 12.72 | 1.16 | 2.01 | 11.11 | 816.59 | 1.66 | 54.41% | 20.25% | 15.81% | 12.59% | 216.32% | 1.14% | 0.49 | 0.60 | 0.01 | 0.01 | 2.69 | 156.00% | 6852.00% | -1165.00% | 1.99% | 0.00 | 53.19% | 0.00% | 0.00% | 0.00% | 13.09 | 66.30 | 2.65 | -0.80 |
| VLY | Valley National Bancorp | $12.61 | 7.03B | +60% | -14% | +27% | -49% | 11.99 | 0.92 | 2.05 | 8.68 | 25.85 | 1.23 | 53.94% | 21.30% | 17.12% | 7.85% | 7.43% | 0.94% | 0.49 | 0.51 | 10.26 | 10.26 | 4.69 | 4638.00% | -221.00% | -2652.00% | 5.62% | 0.87 | 5.01% | 0.00% | 0.00% | 0.88% | 8.68 | 16.01 | 1.85 | 0.29 |
About Commerce Bancshares, Inc.
Commerce Bancshares, Inc. operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards. The Commercial segment provides corporate lending, leasing, international, merchant and commercial bank card, and securities safekeeping and bond accounting services; and business products, government deposits, and related commercial cash management services, as well as sells fixed income securities to correspondent banks, corporations, public institutions, municipalities, and individuals. The Wealth segment provides traditional trust and estate planning, advisory and discretionary investment portfolio management, and brokerage services, as well as private banking accounts. The company also offers private equity investment, securities brokerage, insurance agency, specialty lending, and leasing services, as well as online and mobile banking services. It operates through a network of 287 locations in Missouri, Kansas, Illinois, Oklahoma, and Colorado, as well as commercial offices. Commerce Bancshares, Inc. was founded in 1865 and is headquartered in Kansas City, Missouri.
- CEO
- John W. Kemper
- Employees
- 4.66K
- Beta
- 0.60
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($53.66 ÷ $52.03) − 1 = +3.13% (DCF, example).