Commerce Bancshares, Inc.

Commerce Bancshares, Inc.

CBSHยทNASDAQ

$51.36

+0.32%
Financial ServicesBanks - Regional

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.

At a Glance

Live Snapshot
Market Cap$7.49B
EPS4.0800
P/E Ratio12.59
Earnings Date07/15/2026
Commerce Bancshares, Inc.

Commerce Bancshares, Inc. Fair Value Envelope

CBSH ยท NASDAQ

Our analysis suggests that CBSH has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $51.36, this represents a potential HIDDEN relative to our calculated worth for Commerce Bancshares, Inc..

Intrinsic Value
Current Price: $51.36

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$22.3B
+ Cash & Equivalents$803.2M
Firm Value$23.1B
- Debt$3.0B
Equity Value$20.1B
/ Shares Outstanding132,806,573B
DCF Value$151
UNDERVALUED BY 194%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$718.7M
$800.7M
$892.1M
$993.9M
$1.1B
$1.2B
$1.4B
$1.5B
$1.7B
$1.9B
Maintenance CapEx
-$11.8M
-$13.1M
-$14.6M
-$16.3M
-$18.1M
-$20.2M
-$22.5M
-$25.0M
-$27.9M
-$31.1M
Owner Earnings
$707.0M
$787.6M
$877.5M
$977.6M
$1.1B
$1.2B
$1.4B
$1.5B
$1.7B
$1.9B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$654.6M
$675.3M
$696.6M
$718.6M
$741.2M
$764.6M
$788.8M
$813.7M
$839.3M
$865.8M
Terminal Value represents 66.1% of Enterprise Value