Commerce Bancshares, Inc. (CBSH) Balance Sheet
CBSH balance sheet, 2025
December 31, 2025 · U.S. dollars$32.92B assets = $29.10B liabilities + $3.81B equity
Both columns are drawn to the same scale: what CBSH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CBSH financial health
Descriptive bands, not a rating. Fiscal 2025.
CBSH balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $25.64B2016 | $32.92B2025 | +2.8%/yr | |
| Total liabilities | $23.14B2016 | $29.10B2025 | +2.6%/yr | |
| Shareholders’ equity | $2.50B2016 | $3.79B2025 | +4.7%/yr | |
| Cash & short-term investments | $10.42B2016 | $9.90B2025 | −0.6%/yr | |
| Total debt | $1.93B2016 | $3.00B2025 | +5.1%/yr | |
| Net cash (debt) | $8.49B2016 | $6.90B2025 | −$1.6B | |
| Working capital | $6.18B2016 | −$15.71B2024 | −$21.9B | |
| Book value per share | $18.362016 | $27.302025 | +4.5%/yr | |
| Debt / equity | 0.772016 | 0.792025 | +0.02 | |
| Shares outstanding | 136.3M2016 | 138.9M2025 | +0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CBSH assets
CBSH liabilities and equity
CBSH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CBSH balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $9.90B | $12.51B | $12.37B | $13.08B | $18.73B | $14.63B | $9.46B | $9.74B | $9.24B | $10.42B |
| Cash & equivalents | $803.2M | $3.37B | $2.68B | $841.6M | $4.28B | $2.18B | $887.5M | $1.20B | $469.1M | $767.0M |
| Short-term investments | $9.10B | $9.14B | $9.68B | $12.24B | $14.45B | $12.45B | $8.57B | $8.54B | $8.77B | $9.65B |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $96,000 | $115,000 | $93,000 | $365,000 | $1.4M | $681,000 | $366,000 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.59B | $6.26B | $5.02B |
| Total current assets | $9.90B | $12.51B | $12.37B | $13.08B | $18.73B | $14.63B | $9.46B | $16.33B | $15.50B | $15.43B |
| Property, plant & equipment (net) | $485.7M | $475.3M | $469.1M | $418.9M | $388.7M | $371.1M | $370.6M | $333.1M | $335.1M | $337.7M |
| Goodwill & intangible assets | $159.8M | $160.2M | $160.7M | $154.2M | $154.5M | $150.1M | $148.5M | $147.7M | $146.5M | $145.6M |
| Long-term investments | $9.38B | $9.42B | $9.90B | $12.52B | $14.70B | $28.64B | $23.19B | $22.57B | $13.86B | $13.29B |
| Other non-current assets | $12.99B | $9.43B | $8.80B | $5.70B | $2.72B | $0 | $0 | $0 | $0 | $0 |
| Total assets | $32.92B | $32.00B | $31.70B | $31.88B | $36.69B | $32.92B | $26.07B | $25.46B | $24.83B | $25.64B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $26.19B | $29.81B | $26.95B | $20.52B | $20.32B | $20.43B | $21.10B |
| Short-term debt | $2.99B | $2.93B | $2.91B | $2.85B | $3.03B | $2.10B | $1.86B | $1.96B | $1.51B | $1.82B |
| Total current liabilities | — | $28.22B | $28.27B | $12.91B | $14.80B | $12.60B | $8.75B | $8.94B | $8.67B | $9.25B |
| Long-term debt | $12.8M | $56,000 | $1.4M | $9.7M | $12.6M | $802,000 | $2.4M | $8.7M | $1.8M | $102.0M |
| Other long-term liabilities | $0 | $443.7M | $462.7M | $29.38B | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $29.10B | $28.66B | $28.74B | $29.39B | $12.6M | $802,000 | $2.4M | $22.53B | $22.12B | $23.14B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $692.9M | $676.1M | $655.3M | $629.3M | $610.8M | $589.4M | $564.0M | $559.4M | $2.35B | $2.06B |
| Retained earnings (deficit) | $131.8M | $45.5M | $53.2M | $31.6M | $92.5M | $73.0M | $201.6M | $241.2M | $221.4M | $292.8M |
| Treasury stock | — | — | — | −$41.7M | −$33.0M | −$33.0M | −$37.5M | −$34.2M | −$14.5M | −$15.3M |
| Accumulated other comprehensive income | −$507.7M | −$758.9M | −$891.4M | −$1.09B | $77.1M | $331.4M | $110.4M | −$64.7M | $14.1M | $11.0M |
| Minority interest | $23.4M | $22.6M | $20.1M | $16.3M | $11.0M | $2.9M | $3.8M | $5.9M | $1.6M | $5.3M |
| Total shareholders' equity | $3.79B | $3.31B | $2.94B | $2.48B | $36.68B | $32.92B | $26.06B | $2.94B | $2.72B | $2.50B |
| Key figures | ||||||||||
| Total debt | $3.00B | $2.93B | $2.91B | $2.86B | $3.04B | $2.11B | $1.86B | $1.97B | $1.51B | $1.93B |
| Net cash (debt) | $6.90B | $9.58B | $9.46B | $10.22B | $15.69B | $12.53B | $7.60B | $7.77B | $7.73B | $8.49B |
| Working capital | — | −$15.71B | −$15.91B | $165.7M | $3.93B | $2.03B | $711.7M | $7.39B | $6.84B | $6.18B |
| Tangible book value | $3.63B | $3.15B | $2.78B | $2.33B | $36.52B | $32.77B | $25.91B | $2.79B | $2.57B | $2.36B |
| Book value per share | $27.30 | $24.63 | $21.56 | $18.82 | $272.81 | $243.94 | $187.98 | $21.57 | $19.90 | $18.36 |
| Shares outstanding | 138.9M | 134.4M | 136.6M | 131.8M | 134.4M | 135.0M | 138.6M | 136.2M | 136.6M | 136.3M |
| Current ratio | — | 0.44 | 0.44 | 1.01 | 1.27 | 1.16 | 1.08 | 1.83 | 1.79 | 1.67 |
| Quick ratio | — | 0.44 | 0.44 | 1.01 | 1.27 | 1.16 | 1.08 | 1.09 | 1.07 | 1.13 |
| Debt / equity | 0.79 | 0.88 | 0.99 | 1.15 | 0.08 | 0.06 | 0.07 | 0.67 | 0.56 | 0.77 |
| Equity / assets | 11.5% | 10.3% | 9.3% | 7.8% | 100.0% | 100.0% | 100.0% | 11.5% | 10.9% | 9.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $8.97B | $9.22B | $9.90B | $5.25B | $12.06B | $6.24B | $12.51B | $12.32B | $11.08B | $11.04B | $12.37B | $12.07B |
| Cash & equivalents | $645.7M | $572.6M | $803.2M | $2.95B | $3.15B | $3.27B | $3.37B | $3.15B | $2.54B | $1.90B | $2.68B | $2.21B |
| Short-term investments | $8.32B | $8.65B | $9.10B | $2.30B | $8.92B | $2.96B | $9.14B | $9.17B | $8.53B | $9.14B | $9.68B | $9.86B |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $8.97B | $9.22B | $9.90B | $5.25B | $12.06B | $6.24B | $12.51B | $12.32B | $11.08B | $11.04B | $12.37B | $12.07B |
| Property, plant & equipment (net) | $527.7M | $527.2M | $485.7M | $483.0M | $477.4M | $476.9M | $475.3M | $470.0M | $467.3M | $467.4M | $469.1M | $460.8M |
| Goodwill & intangible assets | $394.3M | $399.8M | $159.8M | $159.9M | $159.9M | $160.0M | $160.2M | $160.3M | $160.3M | $160.5M | $160.7M | $161.0M |
| Long-term investments | $2.75B | $2.28B | $9.38B | $2.59B | $2.29B | $3.26B | $9.42B | $9.44B | $8.87B | $9.39B | $9.90B | $10.14B |
| Other non-current assets | $22.63B | $23.30B | $12.99B | $23.80B | $17.29B | $22.23B | $9.43B | $9.11B | $9.99B | $9.31B | $8.80B | $8.55B |
| Total assets | $35.27B | $35.72B | $32.92B | $32.29B | $32.28B | $32.36B | $32.00B | $31.49B | $30.57B | $30.37B | $31.70B | $31.38B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | $25.09B |
| Short-term debt | $2.43B | $2.58B | $2.99B | $2.47B | $2.60B | $2.40B | $2.93B | $2.18B | $2.55B | $2.51B | $2.91B | $2.75B |
| Total current liabilities | $2.43B | $2.58B | — | $27.93B | $28.09B | $28.24B | $28.22B | $27.42B | $26.83B | $26.95B | $28.27B | $27.84B |
| Long-term debt | $26.3M | $8.0M | $12.8M | $9.3M | $15.0M | $17.7M | $56,000 | $10.2M | $4.0M | $2.4M | $1.4M | $503.6M |
| Other long-term liabilities | $28.43B | $28.81B | $0 | $555.3M | $518.6M | $607.0M | $443.7M | $609.8M | $576.4M | $460.1M | $462.7M | $438.2M |
| Total liabilities | $30.89B | $31.39B | $29.10B | $28.50B | $28.62B | $28.87B | $28.66B | $28.04B | $27.41B | $27.41B | $28.74B | $28.78B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $742.6M | $742.6M | $692.9M | $676.1M | $676.1M | $676.1M | $676.1M | $655.3M | $655.3M | $655.3M | $655.3M | $629.3M |
| Retained earnings (deficit) | $353.0M | $233.1M | $131.8M | $360.7M | $255.9M | $140.2M | $45.5M | $338.5M | $235.3M | $130.7M | $53.2M | $298.3M |
| Accumulated other comprehensive income | −$498.7M | −$539.6M | −$507.7M | −$533.7M | −$581.0M | −$634.6M | −$758.9M | −$576.9M | −$807.8M | −$931.0M | −$891.4M | −$1.19B |
| Minority interest | $24.1M | $24.6M | $23.4M | $21.4M | $19.5M | — | — | — | — | — | — | — |
| Total shareholders' equity | $4.36B | $4.30B | $3.79B | $3.77B | $3.64B | $3.48B | $3.31B | $3.43B | $3.14B | $2.94B | $2.94B | $2.58B |
| Key figures | ||||||||||||
| Total debt | $2.45B | $2.58B | $3.00B | $2.48B | $2.61B | $2.42B | $2.93B | $2.19B | $2.56B | $2.51B | $2.91B | $3.25B |
| Net cash (debt) | $6.51B | $6.63B | $6.90B | $2.77B | $9.45B | $3.82B | $9.58B | $10.13B | $8.52B | $8.53B | $9.46B | $8.82B |
| Working capital | $6.54B | $6.64B | — | −$22.68B | −$16.03B | −$22.00B | −$15.71B | −$15.10B | −$15.75B | −$15.90B | −$15.91B | −$15.77B |
| Tangible book value | $3.96B | $3.90B | $3.63B | $3.61B | $3.48B | $3.32B | $3.15B | $3.27B | $2.98B | $2.78B | $2.78B | $2.42B |
| Book value per share | $30.20 | $29.49 | $27.55 | $28.47 | $27.46 | $25.90 | $24.76 | $25.54 | $23.24 | $21.70 | $21.56 | $18.64 |
| Shares outstanding | 144.3M | 145.9M | 137.6M | 132.5M | 132.6M | 134.3M | 133.7M | 134.4M | 135.0M | 135.6M | 136.5M | 138.5M |
| Current ratio | 3.69 | 3.58 | — | 0.19 | 0.43 | 0.22 | 0.44 | 0.45 | 0.41 | 0.41 | 0.44 | 0.43 |
| Quick ratio | 3.69 | 3.58 | — | 0.19 | 0.43 | 0.22 | 0.44 | 0.45 | 0.41 | 0.41 | 0.44 | 0.43 |
| Debt / equity | 0.56 | 0.60 | 0.79 | 0.66 | 0.72 | 0.70 | 0.88 | 0.64 | 0.81 | 0.85 | 0.99 | 1.26 |
| Equity / assets | 12.4% | 12.0% | 11.5% | 11.7% | 11.3% | 10.7% | 10.3% | 10.9% | 10.3% | 9.7% | 9.3% | 8.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
CBSH financial position
At the end of fiscal 2025 (December 31, 2025), Commerce Bancshares had total assets of $32.9 billion (up 2.9% from a year earlier), total liabilities of $29.1 billion and shareholders' equity of $3.8 billion. It held $9.9 billion in cash and short-term investments against $3.0 billion of debt, a net cash position of $6.9 billion. In the latest quarter (ended June 30, 2026) total assets were $35.3 billion and equity $4.4 billion.
Related: CBSH income statement, CBSH cash flow statement, CBSH key metrics. See the CBSH stock overview for the latest quote and news.
CBSH balance sheet FAQ
What are Commerce Bancshares's total assets?
Commerce Bancshares reported total assets of $32.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $32.0 billion a year earlier.
How much debt does Commerce Bancshares have?
Commerce Bancshares had $3.0 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.79.
How much cash does Commerce Bancshares have?
Commerce Bancshares held $9.9 billion in cash and short-term investments at the end of fiscal 2025; with $3.0 billion of debt that is net cash of $6.9 billion.
What is Commerce Bancshares's book value?
Commerce Bancshares's shareholders' equity (book value) was $3.8 billion at the end of fiscal 2025, or $27.30 per share.
How much goodwill does Commerce Bancshares have?
Commerce Bancshares carried $159.8 million of goodwill and intangible assets, 0.5% of total assets, at the end of fiscal 2025.