CBSH (Commerce Bancshares) Scaled Net Operating Assets: -0.05 (As of Mar. 2026)


CBSH Commerce Bancshares Inc CBSH
78 GF Score
Price $56.62
GF Value $58.17
Valuation Fairly Valued
! 2 Warning Signs
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What is Commerce Bancshares Scaled Net Operating Assets?

Commerce Bancshares CBSH -0.04% 78 Scaled Net Operating Assets is -0.05 as of Mar. 2026. 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.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Commerce Bancshares's operating assets for the quarter that ended in Mar. 2026 was $29,883 Mil. Commerce Bancshares's operating liabilities for the quarter that ended in Mar. 2026 was $31,383 Mil. Commerce Bancshares's Total Assets for the quarter that ended in Dec. 2025 was $32,915 Mil. Therefore, Commerce Bancshares's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was -0.05.

CBSH
78GF Score
Commerce Bancshares Inc CBSH
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Commerce Bancshares Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Commerce Bancshares's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(29367.457-29087.519)/31996.627
=0.01

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=32915.089 - 3547.632
=29367.457

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=29100.317 - 12.798 - 0
=29087.519

Commerce Bancshares's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(29883.241-31382.813)/32915.089
=-0.05

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=35717.256 - 5834.015
=29883.241

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=31390.858 - 8.045 - 0
=31382.813

* 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.

What does a Scaled Net Operating Assets of -0.05 mean?
Commerce Bancshares (CBSH) has a Scaled Net Operating Assets of -0.05 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Commerce Bancshares and its competitors.
Is Commerce Bancshares' Scaled Net Operating Assets too high?
Commerce Bancshares' current Scaled Net Operating Assets is -0.05. 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' Scaled Net Operating Assets compare to VLY and BOKF?
Commerce Bancshares' Scaled Net Operating Assets of -0.05 can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Banks company?
A good Scaled Net Operating Assets depends on the Banks industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Commerce Bancshares and its competitors. Commerce Bancshares's current Scaled Net Operating Assets is -0.05. 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 $56.62 — trading 2.7% below its estimated fair value. The current Scaled Net Operating Assets is -0.05. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Commerce Bancshares (CBSH), the current Scaled Net Operating Assets is -0.05 as of Mar. 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 $56.62 is trading 2.7% below its estimated GF Value™ of $58.17. GuruFocus considers Commerce Bancshares to be Fairly Valued.

Key valuation signals for CBSH:

  • Scaled Net Operating Assets: -0.05
  • GF Value™: $58.17 vs. price of $56.62 (2.7% below fair value)
  • GF Score™: 78/100 with 2 warning signs

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 Business Description

Address 1000 Walnut, Kansas City, MO, USA, 64106
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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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$56.62
Price
$58.17
GF Value