CBSH Commerce Bancshares margins

Relative Growth: Rel. Growth: 64

Relative Strength: Rel. Strength: 59

Relative Valuation: Rel. Valuation: 64

Relative Profitability: Rel. Profitability: 83

Gross margin

100%

Operating margin

40%

EBITDA margin

45.5%

Net margin

32.3%

Based on the latest figures, Commerce Bancshares reports a gross margin of 100%, an operating margin of 40%, an EBITDA margin of 45.5%, and a net margin of 32.3%. Operating margin led the reported margin declines with 2.9 percentage points, while the other margins did not change.

CBSH margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, Commerce Bancshares recorded average margins of 100% gross, 40.93% operating, 44.59% EBITDA, and 32.17% net. The current figures show EBITDA and net margins are above their three-year averages, while operating margin is below its three-year average.

CBSH margin expansion

Year-over-year margin changes in percentage points

Operating margin contracted by 2.9 percentage points, EBITDA margin by 0.3 percentage points, and net margin by 1 percentage point, while gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

-2.9pp

EBITDA margin expansion

-0.3pp

Net margin expansion

-1pp

CBSH Gross margin

Over the last 3 years, the average gross margin for Commerce Bancshares was 100%. The latest gross margin for Commerce Bancshares is 100%, in line with its three-year average. Commerce Bancshares's gross margin ranged from a low of 100% in Dec 2023 to a high of 100% in Jun 2026.

CBSH Operating margin

Over the last 3 years, Commerce Bancshares recorded an average operating margin of 40.93%. Compared with its three-year average, Commerce Bancshares's current operating margin is 40% and is 0.9 percentage points below its three-year average. The highest operating margin for Commerce Bancshares was 42.9% in Jun 2025, while the lowest was 38.6% in Mar 2024.

CBSH EBITDA margin

Throughout the last 3 years, Commerce Bancshares had an average EBITDA margin of 44.59%. Currently, Commerce Bancshares's current EBITDA margin is 45.5%, which is 0.9 percentage points above its three-year average. Looking back over the last 3 years, Commerce Bancshares's EBITDA margin reached 46% at its highest point in Sep 2025 and 42.2% at its lowest in Mar 2024.

CBSH Net margin

Commerce Bancshares's net margin averaged 32.17% in the last 3 years. Commerce Bancshares currently reports a net margin of 32.3%, 0.1 percentage points above its three-year average. Over the last 3 years, Commerce Bancshares's net margin peaked at 33.4% in Sep 2025 and reached a low of 30.3% in Mar 2024.

CBSH margin group comparison

Margins compared with peer-group, industry and sector averages

Commerce Bancshares's gross margin of 100% is above the Financial Services sector and the industry average. Compared to its Financial Services sector average of 83.7%, Commerce Bancshares's gross margin is 19% higher.

CBSH margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Commerce Bancshares's gross margin?

The current gross margin for CBSH is 100% as of Jun 30, 2026.

What is Commerce Bancshares's operating margin?

For the period ending Jun 30, 2026, CBSH recorded an operating margin of 40%.

What is Commerce Bancshares's EBITDA margin?

As of Jun 30, 2026, CBSH has an EBITDA margin of 45.5%.

What is Commerce Bancshares's net margin?

For the period ending Jun 30, 2026, CBSH recorded a net margin of 32.3%.

What are the average margins of CBSH?

Over the last 3 years, Commerce Bancshares's margins averaged 100.0% gross, 40.9% operating, 44.6% EBITDA, and 32.2% net.

What are the highest historical margins of CBSH?

Commerce Bancshares's highest recorded margins during the past 5 years were 100% gross in Jun 2026, 44.9% operating in Dec 2021, 49.3% EBITDA in Dec 2021, and 36.3% net in Dec 2021.

What are the lowest historical margins of CBSH?

Over this 5-year history, Commerce Bancshares's margins fell as low as 100% gross in Dec 2021, 38.6% operating in Mar 2024, 42.2% EBITDA in Mar 2024, and 30.3% net in Mar 2024.