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Side-by-side financial comparison of AeroVironment Inc (AVAV) and COMMERCE BANCSHARES INC (CBSH). Click either name above to swap in a different company.
COMMERCE BANCSHARES INC is the larger business by last-quarter revenue ($475.7M vs $472.5M, roughly 1.0× AeroVironment Inc). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs -3.6%, a 33.4% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs 11.1%). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs 7.1%).
AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo i...
Commerce Bancshares, Inc. is a regional bank holding company headquartered in Missouri, with principal offices in Kansas City and St. Louis. It is the corporate parent of Commerce Bank, which offers a diversified line of financial services, including business and personal banking, wealth management and investments through its affiliated companies.
AVAV vs CBSH — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $475.7M |
| Net Profit | $-17.1M | $141.6M |
| Gross Margin | 22.0% | — |
| Operating Margin | -6.4% | — |
| Net Margin | -3.6% | 29.8% |
| Revenue YoY | 181.9% | 11.1% |
| Net Profit YoY | -875.1% | 10.5% |
| EPS (diluted) | $-0.34 | $0.96 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $475.7M | ||
| Q4 25 | $472.5M | $449.4M | ||
| Q3 25 | $454.7M | $441.0M | ||
| Q2 25 | $275.1M | $445.8M | ||
| Q1 25 | $167.6M | $428.1M | ||
| Q4 24 | $188.5M | $422.1M | ||
| Q3 24 | $189.5M | $421.4M | ||
| Q2 24 | $197.0M | $414.5M |
| Q1 26 | — | $141.6M | ||
| Q4 25 | $-17.1M | $140.7M | ||
| Q3 25 | $-67.4M | $141.5M | ||
| Q2 25 | $16.7M | $152.5M | ||
| Q1 25 | $-1.8M | $131.6M | ||
| Q4 24 | $7.5M | $136.1M | ||
| Q3 24 | $21.2M | $138.0M | ||
| Q2 24 | $6.0M | $139.6M |
| Q1 26 | — | — | ||
| Q4 25 | 22.0% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 37.7% | — | ||
| Q4 24 | 39.1% | — | ||
| Q3 24 | 43.0% | — | ||
| Q2 24 | 38.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | -6.4% | 40.8% | ||
| Q3 25 | -15.2% | 41.9% | ||
| Q2 25 | 5.0% | 44.0% | ||
| Q1 25 | -1.8% | 39.2% | ||
| Q4 24 | 3.7% | 41.2% | ||
| Q3 24 | 12.2% | 42.4% | ||
| Q2 24 | 3.0% | 43.4% |
| Q1 26 | — | 29.8% | ||
| Q4 25 | -3.6% | 31.3% | ||
| Q3 25 | -14.8% | 32.1% | ||
| Q2 25 | 6.1% | 34.2% | ||
| Q1 25 | -1.0% | 30.7% | ||
| Q4 24 | 4.0% | 32.2% | ||
| Q3 24 | 11.2% | 32.8% | ||
| Q2 24 | 3.1% | 33.7% |
| Q1 26 | — | $0.96 | ||
| Q4 25 | $-0.34 | $0.86 | ||
| Q3 25 | $-1.44 | $1.06 | ||
| Q2 25 | $0.59 | $1.14 | ||
| Q1 25 | $-0.06 | $0.98 | ||
| Q4 24 | $0.27 | $0.83 | ||
| Q3 24 | $0.75 | $1.01 | ||
| Q2 24 | $0.18 | $1.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $588.5M | — |
| Total DebtLower is stronger | $747.5M | — |
| Stockholders' EquityBook value | $4.4B | $4.3B |
| Total Assets | $5.6B | $35.7B |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $588.5M | — | ||
| Q3 25 | $685.8M | — | ||
| Q2 25 | $40.9M | — | ||
| Q1 25 | $47.0M | — | ||
| Q4 24 | $69.0M | — | ||
| Q3 24 | $81.2M | — | ||
| Q2 24 | $73.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | $747.5M | — | ||
| Q3 25 | $747.5M | — | ||
| Q2 25 | $30.0M | — | ||
| Q1 25 | $25.0M | — | ||
| Q4 24 | $15.0M | — | ||
| Q3 24 | $17.5M | — | ||
| Q2 24 | $28.0M | — |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $4.4B | $3.8B | ||
| Q3 25 | $4.4B | $3.8B | ||
| Q2 25 | $886.5M | $3.6B | ||
| Q1 25 | $861.1M | $3.5B | ||
| Q4 24 | $858.4M | $3.3B | ||
| Q3 24 | $845.5M | $3.4B | ||
| Q2 24 | $822.7M | $3.1B |
| Q1 26 | — | $35.7B | ||
| Q4 25 | $5.6B | $32.9B | ||
| Q3 25 | $5.6B | $32.3B | ||
| Q2 25 | $1.1B | $32.3B | ||
| Q1 25 | $1.0B | $32.4B | ||
| Q4 24 | $1.0B | $32.0B | ||
| Q3 24 | $999.2M | $31.5B | ||
| Q2 24 | $1.0B | $30.6B |
| Q1 26 | — | — | ||
| Q4 25 | 0.17× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.02× | — | ||
| Q3 24 | 0.02× | — | ||
| Q2 24 | 0.03× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-45.1M | — |
| Free Cash FlowOCF − Capex | $-55.9M | — |
| FCF MarginFCF / Revenue | -11.8% | — |
| Capex IntensityCapex / Revenue | 2.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-45.1M | $645.1M | ||
| Q3 25 | $-123.7M | $129.0M | ||
| Q2 25 | $-264.0K | $111.2M | ||
| Q1 25 | $-25.8M | $138.6M | ||
| Q4 24 | $-3.6M | $577.9M | ||
| Q3 24 | $28.4M | $431.7M | ||
| Q2 24 | $-11.7M | $147.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.9M | $592.4M | ||
| Q3 25 | $-146.5M | $113.3M | ||
| Q2 25 | $-8.8M | $100.5M | ||
| Q1 25 | $-29.6M | $126.0M | ||
| Q4 24 | $-8.7M | $531.7M | ||
| Q3 24 | $22.9M | $419.1M | ||
| Q2 24 | $-20.8M | $138.9M |
| Q1 26 | — | — | ||
| Q4 25 | -11.8% | 131.8% | ||
| Q3 25 | -32.2% | 25.7% | ||
| Q2 25 | -3.2% | 22.5% | ||
| Q1 25 | -17.7% | 29.4% | ||
| Q4 24 | -4.6% | 126.0% | ||
| Q3 24 | 12.1% | 99.5% | ||
| Q2 24 | -10.5% | 33.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | 11.7% | ||
| Q3 25 | 5.0% | 3.6% | ||
| Q2 25 | 3.1% | 2.4% | ||
| Q1 25 | 2.3% | 2.9% | ||
| Q4 24 | 2.7% | 10.9% | ||
| Q3 24 | 2.9% | 3.0% | ||
| Q2 24 | 4.6% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.59× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | -0.02× | 0.73× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | -0.48× | 4.25× | ||
| Q3 24 | 1.34× | 3.13× | ||
| Q2 24 | -1.93× | 1.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
CBSH
Segment breakdown not available.
