Commerce Bancshares, Inc.

CBSHNASDAQFinancial Services● Active

$53.41

+$0.36(+0.68%)

Market Cap$7.8B

P/E Ratio—

52W High$63.19048

52W Low$46.99

Avg Volume1.2M

Open$53.05

Beta0.60

Free Cash Flow Financials Revenue

Commerce Bancshares, Inc. (CBSH) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CBSH · free cash flow · updated Jun 8, 2026

Core FCF metrics

CBSH · FCF · TTM · margin & CAGR

Free cash flow was $592.4M for FY2025 (fiscal year ending 2025-12-31), up 11.4% year-over-year The FCF margin was 27.7%. Five-year CAGR stands at +0.1%.

FY2025 Free Cash Flow$592.4M▲ +11.4% YoY

Trailing 12M (TTM)$1.12Btrailing 4 quarters sum

FCF Margin27.7%$592.4M ÷ revenue

3-Year CAGR+6.2%FY2022 → FY2025

5-Year CAGR+0.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CBSH · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$645.1M(53M)$592.4M▲ +11.4%27.7%

FY2024$577.9M(46M)$531.7M▲ +32.7%25.4%

FY2023$488.8M(88M)$400.7M▼ 18.9%20.4%

FY2022$559.4M(65M)$494.2M▼ 8.7%31.6%

FY2021$597.7M(57M)$541.0M▼ 8.4%37.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CBSH · P/FCF · FCF yield · FCF per share

Commerce Bancshares, Inc. (CBSH) trades at a FCF yield of 14.42% and a price-to-free-cash-flow ratio of 6.6x. FCF per share stands at $8.08, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

14.42%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$8.08

TTM FCF ÷ Shares Outstanding

Price / FCF

x6.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x8.7

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CBSH · cash flow statement · operating / investing / financing

For FY2025, Commerce Bancshares, Inc. generated $645.1M in operating cash flow and spent 53M in capital expenditures, yielding $592.4M in free cash flow.

Operating Activities

+$645.1M

Cash from core business operations

2025-12-31

Investing Activities

−$462.4M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$11.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($645.1M) − |CapEx| (53M) = FCF ($592.4M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

CBSH vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Commerce Bancshares, Inc.YOU

CBSH

$592.4M+11.4%27.7%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Commerce Bancshares, Inc. (CBSH) reported free cash flow of $592.4M for FY2025 (fiscal year ending 2025-12-31), up 11.4% year-over-year. The FCF margin was 27.7%.

Based on available data, Commerce Bancshares, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $592.4M in FY2025. The 5-year CAGR stands at +0.1%.

Commerce Bancshares, Inc.'s FCF yield is 14.42% and price-to-FCF ratio is 6.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CBSH free cash flow · 8 questions

Commerce Bancshares, Inc. free cash flow was $592.4M for FY2025, up 11.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.12B.

CBSH free cash flowCBSH FCFCBSH FCF 2025CBSH free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Commerce Bancshares, Inc. · Commerce Bancshares, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026