Commerce BancsharesCBSH +1.30%78 PB Ratio is 1.95 as of Jun. 25, 2026, which is 19% below its 10-year median of 2.40. GuruFocus rates CBSH with a GF Score™ of 78/100 and a GF Value™ of $58.17 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,515 Banks companies, Commerce Bancshares ranks worse than 87.46% on this metric.
The historical rank and industry rank for Commerce Bancshares's PB Ratio or its related term are showing as below:
CBSH'
s PB Ratio Range Over the Past 10 Years
Min: 1.7 Med: 2.4 Max: 3.81
Current: 1.95
During the past 13 years, Commerce Bancshares's highest PB Ratio was 3.81. The lowest was 1.70. And the median was 2.40.
CBSH's PB Ratio is ranked worse than 87.46% of 1515
companies
in the Banks industry
Industry Median: 1.08
vs CBSH: 1.95
During the past 12 months, Commerce Bancshares's average Book Value Per Share Growth Rate was 18.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 17.40% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 3.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 5.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Commerce Bancshares was 17.40% per year. The lowest was -5.00% per year. And the median was 8.20% per year.
Back to Basics: PB Ratio
Commerce Bancshares (NAS:CBSH) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Commerce Bancshares PB Ratio Related Terms
Commerce Bancshares PB Ratio Historical Data
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The historical data trend for Commerce Bancshares's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Banks - Regional subindustry, Commerce Bancshares's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Commerce Bancshares PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Commerce Bancshares's PB Ratio distribution charts can be found below:
* The bar in red indicates where Commerce Bancshares's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Commerce Bancshares (CBSH) has a PB Ratio of 1.95 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Commerce Bancshares and its competitors. This is 19% below median its historical median of 2.40. Over the past decade, Commerce Bancshares' PB Ratio has ranged from 1.70 to 3.81. According to the industry distribution chart, Commerce Bancshares ranks #1325 out of 1515 companies in the Banks industry, placing it in the top 87.5%.
Is Commerce Bancshares' PB Ratio too high?
Commerce Bancshares' current PB Ratio of 1.95 is 19% below median its 10-year median of 2.40. Over the past 10 years, this metric has ranged from a low of 1.70 to a high of 3.81. The Banks industry median PB Ratio is 1.08. Commerce Bancshares' value of 1.95 is 80.6% above this industry median. Based on the distribution chart, Commerce Bancshares ranks #1325 out of 1515 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Commerce Bancshares has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Commerce Bancshares' PB Ratio compare to VLY and BOKF?
According to the Banks industry distribution chart, Commerce Bancshares ranks #1325 out of 1515 companies for PB Ratio. This places Commerce Bancshares in the lower half of its industry. The industry median PB Ratio is 1.08. Commerce Bancshares' value of 1.95 is 80.6% above this benchmark. Historically, Commerce Bancshares' own PB Ratio has ranged from 1.70 to 3.81 over the past decade. While the company's 10-year median is 2.40 vs. the industry median of 1.08, Commerce Bancshares has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Banks company?
The median PB Ratio among Banks companies is 1.08, based on 1,515 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Commerce Bancshares's current PB Ratio of 1.95 is 80.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Commerce Bancshares and its competitors. For the Banks industry, the median PB Ratio is 1.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Commerce Bancshares's current PB Ratio is 1.95, which is 19% below median its own 10-year median of 2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Commerce Bancshares stock overvalued right now?
Based on GuruFocus' analysis, Commerce Bancshares (CBSH) is currently considered Fairly Valued. The stock's GF Value™ is $58.17, compared to a current price of $57.38 — trading 1.4% below its estimated fair value. The current PB Ratio is 1.95, which is 19% below median its 10-year median of 2.40 and 80.6% above the Banks industry median of 1.08. Commerce Bancshares' overall GF Score™ is 78/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Commerce Bancshares (CBSH), the current PB Ratio is 1.95 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Commerce Bancshares (CBSH) Overvalued in 2026?
Based on GuruFocus' analysis, Commerce Bancshares stock appears to be undervalued.
The current stock price of $57.38 is trading 1.4% below its estimated GF Value™ of $58.17.
GuruFocus considers Commerce Bancshares to be Fairly Valued.
Key valuation signals for CBSH:
PB Ratio: 1.95 (19% below median its 10-year median of 2.40)
GF Value™: $58.17 vs. price of $57.38 (1.4% below fair value)
Industry Position: 80.6% above the Banks median (#1325 of 1515)
No single metric tells the full story. See the CBSH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Commerce Bancshares Inc operates as the bank holding company for Commerce Bank. The bank is engaged in the general banking business, providing a broad range of retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals, businesses, and municipalities. The company has three reportable segments. The Commercial segment provides lending, leasing, deposit, payment, and cash management services to business and government customers. The Retail Banking segment offers consumer deposits, consumer lending, mortgage banking, and debit and credit card services through its branch network. The Wealth segment provides trust, estate planning, brokerage, and investment management services to individual and institutional clients.
78GF Score
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