NASDAQ:CBSH · NASDAQ Global Select
+$0.50 today
Vol 1.00M · Avg 1.23M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NASDAQ:CBSH · Revenue to Net Income
Key Ratios
Analysis
$2.2B of revenue converted into $576.3M of net income for the selected period. Gross margin is 80.7% and net margin is 26.1%, showing how much revenue survives after costs and taxes. EPS is $4.14, tying the income statement back to per-share earnings.
Revenue
—
Operating Income
—
Net Income
—
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B +2.2% | $2.1B +6.3% | $2.0B +25.8% | $1.6B +8.8% | $1.4B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $428.0M -7.4% | $462.2M +10.4% | $418.6M +393.3% | $84.9M +258.7% | -$53.5M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $1.7B +5.0% | $1.6B +5.2% | $1.6B +4.7% | $1.5B -0.7% | $1.5B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 80.0% +2.1pp | 77.9% -0.8pp | 78.7% -15.8pp | 94.6% -9.1pp | 103.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $663.2M +2.6% | $646.7M +0.8% | $641.7M +9.1% | $588.5M +5.8% | $556.2M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $979.8M +3.0% | $951.2M +2.2% | $931.0M +9.7% | $848.8M +5.3% | $805.9M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $38.2M -29.4% | $54.1M +9.2% | $49.5M +5.7% | $46.9M +4.4% | $44.9M | $374.2M | $1.2B | $631.8M |
| EBITDA | $770.0M +5.0% | $733.6M +9.6% | $669.2M -1.5% | $679.2M -7.1% | $731.2M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 36.0% +0.9pp | 35.0% +1.1pp | 34.0% -9.4pp | 43.4% -7.4pp | 50.8% | 5.6% | 46.3% | 42.0% |
| Operating Income | $731.8M +7.7% | $679.5M +9.6% | $619.7M -2.0% | $632.4M -7.9% | $686.3M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 34.2% +1.7pp | 32.5% +1.0pp | 31.5% -8.9pp | 40.4% -7.3pp | 47.7% | 16.6% | 24.1% | 22.0% |
| Interest Income | $1.5B +1.0% | $1.5B +6.4% | $1.4B +38.3% | $999.0M +17.8% | $848.3M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $371.9M -13.4% | $429.3M +12.0% | $383.2M +574.7% | $56.8M +341.4% | $12.9M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $0 | $0 | $0 | $0 | $0 | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $731.8M +7.7% | $679.5M +9.6% | $619.7M -2.0% | $632.4M -7.9% | $686.3M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 34.2% +1.7pp | 32.5% +1.0pp | 31.5% -8.9pp | 40.4% -7.3pp | 47.7% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $161.1M +11.1% | $145.1M +7.8% | $134.5M +1.7% | $132.4M -9.2% | $145.7M | $1.3B | -$1.6B | $745.2M |
| Net Income | $566.3M +7.6% | $526.3M +10.3% | $477.1M -2.3% | $488.4M -8.0% | $530.8M | $4.9B | $4.8B | $4.7B |
| Net Margin | 26.5% +1.3pp | 25.1% +0.9pp | 24.2% -7.0pp | 31.2% -5.7pp | 36.9% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $4 +5.2% | $4 +11.8% | $3 -0.9% | $4 -6.2% | $4 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $4 +5.4% | $4 +11.5% | $3 -0.6% | $3 -6.2% | $4 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $138.9M +3.4% | $134.4M -1.6% | $136.6M -1.3% | $138.4M -1.9% | $141.2M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $138.9M +3.4% | $134.4M -1.6% | $136.6M -1.3% | $138.4M -1.9% | $141.2M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
UMB Financial Corporation
NASDAQ:UMBF
$10.93B
Popular, Inc.
NASDAQ:BPOP
$10.79B
Old National Bancorp
NASDAQ:ONB
$10.05B
Cullen/Frost Bankers, Inc.
NYSE:CFR
$9.72B
BOK Financial Corporation
NASDAQ:BOKF
$8.46B
Valley National Bancorp
NASDAQ:VLY
$8.08B
Pinnacle Financial Partners, Inc.
NYSE:PNFP
$7.65B
Prosperity Bancshares, Inc.
NYSE:PB
$7.15B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does CBSH generate?
Commerce Bancshares, Inc. (CBSH) reported $2.14B of revenue in fiscal 2025.
Is CBSH profitable?
Commerce Bancshares, Inc. (CBSH) reported $566.25M of net income, with a net margin of 26.5%.
Explore More
Continue the stock analysis
Jump to another research area for this company.