Question 1

What is Commerce Bancshares's P/E ratio?

Accepted Answer

Commerce Bancshares (CBSH) P/E ratio is 14.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Commerce Bancshares?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Commerce Bancshares specifically, the relevant sector benchmark is the current sector median of 13.1×.

Question 5

Is Commerce Bancshares's P/E ratio high or low?

Accepted Answer

Commerce Bancshares's P/E ratio of 14.5× is above its own 5-year average of 14.2× and above the sector median of 13.1×. That places the current reading at the 51th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Commerce Bancshares's historical P/E ratio range?

Accepted Answer

In the available daily series, Commerce Bancshares (CBSH) P/E ratio has ranged from a low of 10.3× in 2023 to a high of 20.7× in 2020. The 5-year average is 14.2× and the 5-year median is 14.2×.

Question 7

What was Commerce Bancshares's P/E ratio in 2025?

Accepted Answer

Commerce Bancshares (CBSH) P/E ratio at the end of 2025 was 12.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Commerce Bancshares's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$7.2B	$566M	12.7×	-2.3×	Dec 31, 2025
2024	$7.92B	$526M	15.1×	+1.2×	Dec 31, 2024
2023	$6.61B	$477M	13.9×	-2.6×	Dec 31, 2023
2022	$8.05B	$488M	16.5×	+1.4×	Dec 31, 2022
2021	$8B	$531M	15.1×	-5.6×	Dec 31, 2021
2020	$7.32B	$354M	20.7×	+3.6×	Dec 31, 2020
2019	$7.2B	$421M	17.1×	+3.2×	Dec 31, 2019
2018	$6.01B	$434M	13.9×	-4.0×	Dec 31, 2018
2017	$5.69B	$319M	17.8×	-2.5×	Dec 31, 2017
2016	$5.61B	$275M	20.4×	+5.4×	Dec 31, 2016
2015	$3.95B	$264M	15.0×	-0.4×	Dec 31, 2015
2014	$4.04B	$262M	15.4×	-0.2×	Dec 31, 2014
2013	$4.09B	$261M	15.7×	+4.3×	Dec 31, 2013
2012	$3.05B	$269M	11.3×	+0.5×	Dec 31, 2012
2011	$2.77B	$256M	10.8×	-2.0×	Dec 31, 2011
2010	$2.83B	$222M	12.7×	-3.0×	Dec 31, 2010
2009	$2.66B	$169M	15.7×	+1.2×	Dec 31, 2009
2008	$2.74B	$189M	14.5×	+1.7×	Dec 31, 2008
2007	$2.65B	$207M	12.8×	+0.2×	Dec 31, 2007
2006	$2.77B	$220M	12.6×	-0.3×	Dec 31, 2006
2005	$2.87B	$223M	12.9×	+0.2×	Dec 31, 2005
2004	$2.78B	$220M	12.6×	-0.6×	Dec 31, 2004
2003	$2.72B	$207M	13.2×	+2.4×	Dec 31, 2003
2002	$2.15B	$199M	10.8×	—	Dec 31, 2002


Ameriprise Financial (AMP)	10.6×
Auburn National Bancorporation (AUBN)	10.5×
1st Source (SRCE)	10.5×
Truist Financial (TFC)	10.4×
Eagle Financial Services (EFSI)	10.0×
Prudential Financial (PRU)	9.8×
UMB Financial (UMBF)	9.7×
T. Rowe Price (TROW)	9.6×
Old Republic International (ORI)	9.5×
First Financial (THFF)	9.3×
Globe Life (GL-PD)	9.3×
Hartford Insurance Group (HIG)	9.3×
Assured Guaranty (AGO)	8.9×
Cincinnati Financial (CINF)	8.8×
Federal Agricultural Mortgage (AGM)	8.8×
Travelers Companies (TRV)	8.4×
PayPal (PYPL)	8.2×
PSB Holdings (PSBQ)	7.5×
Arch Capital Group (ACGL)	7.1×
AXIS Capital Holdings (AXS)	7.0×
Tompkins Financial (TMP)	6.7×
Everest Group (EG)	6.5×
Mercury General (MCY)	5.8×
Allstate (ALL)	4.4×
Atlantic Union Bankshares (AUB)	0.0×

P/E Ratio for Commerce Bancshares (CBSH) 2002-2026

P/E Ratio daily chart for Commerce Bancshares (CBSH)

Historical P/E Ratio for Commerce Bancshares (CBSH) from 2002 to 2025

About P/E Ratio at Commerce Bancshares (CBSH)

Commerce Bancshares P/E Ratio by Year

Commerce Bancshares P/E Ratio 2025: 12.7×

Commerce Bancshares P/E Ratio 2024: 15.1×

Commerce Bancshares P/E Ratio 2023: 13.9×

Commerce Bancshares P/E Ratio 2022: 16.5×

Commerce Bancshares P/E Ratio 2021: 15.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Commerce Bancshares (CBSH) Key Financials