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Side-by-side financial comparison of COMMERCE BANCSHARES INC (CBSH) and DONALDSON Co INC (DCI). Click either name above to swap in a different company.
DONALDSON Co INC is the larger business by last-quarter revenue ($935.4M vs $475.7M, roughly 2.0× COMMERCE BANCSHARES INC). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs 12.2%, a 17.6% gap on every dollar of revenue. On growth, COMMERCE BANCSHARES INC posted the faster year-over-year revenue change (11.1% vs 3.9%). Over the past eight quarters, COMMERCE BANCSHARES INC's revenue compounded faster (7.1% CAGR vs 3.3%).
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.
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
CBSH vs DCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $475.7M | $935.4M |
| Net Profit | $141.6M | $113.9M |
| Gross Margin | — | 35.2% |
| Operating Margin | — | 16.0% |
| Net Margin | 29.8% | 12.2% |
| Revenue YoY | 11.1% | 3.9% |
| Net Profit YoY | 10.5% | 15.1% |
| EPS (diluted) | $0.96 | $0.97 |
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 | $449.4M | $935.4M | ||
| Q3 25 | $441.0M | $980.7M | ||
| Q2 25 | $445.8M | $940.1M | ||
| Q1 25 | $428.1M | $870.0M | ||
| Q4 24 | $422.1M | $900.1M | ||
| Q3 24 | $421.4M | $935.4M | ||
| Q2 24 | $414.5M | $927.9M |
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $113.9M | ||
| Q3 25 | $141.5M | $114.3M | ||
| Q2 25 | $152.5M | $57.8M | ||
| Q1 25 | $131.6M | $95.9M | ||
| Q4 24 | $136.1M | $99.0M | ||
| Q3 24 | $138.0M | $109.7M | ||
| Q2 24 | $139.6M | $113.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.2% | ||
| Q3 25 | — | 34.5% | ||
| Q2 25 | — | 34.2% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.6% |
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 16.0% | ||
| Q3 25 | 41.9% | 15.5% | ||
| Q2 25 | 44.0% | 9.3% | ||
| Q1 25 | 39.2% | 14.4% | ||
| Q4 24 | 41.2% | 14.5% | ||
| Q3 24 | 42.4% | 15.6% | ||
| Q2 24 | 43.4% | 15.5% |
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 12.2% | ||
| Q3 25 | 32.1% | 11.7% | ||
| Q2 25 | 34.2% | 6.1% | ||
| Q1 25 | 30.7% | 11.0% | ||
| Q4 24 | 32.2% | 11.0% | ||
| Q3 24 | 32.8% | 11.7% | ||
| Q2 24 | 33.7% | 12.2% |
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $0.97 | ||
| Q3 25 | $1.06 | $0.97 | ||
| Q2 25 | $1.14 | $0.48 | ||
| Q1 25 | $0.98 | $0.79 | ||
| Q4 24 | $0.83 | $0.81 | ||
| Q3 24 | $1.01 | $0.90 | ||
| Q2 24 | $1.03 | $0.92 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $210.7M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $4.3B | $1.5B |
| Total Assets | $35.7B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $210.7M | ||
| Q3 25 | — | $180.4M | ||
| Q2 25 | — | $178.5M | ||
| Q1 25 | — | $189.1M | ||
| Q4 24 | — | $221.2M | ||
| Q3 24 | — | $232.7M | ||
| Q2 24 | — | $223.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $630.4M | ||
| Q2 25 | — | $638.8M | ||
| Q1 25 | — | $514.7M | ||
| Q4 24 | — | $538.6M | ||
| Q3 24 | — | $483.4M | ||
| Q2 24 | — | $481.8M |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $1.5B | ||
| Q3 25 | $3.8B | $1.5B | ||
| Q2 25 | $3.6B | $1.5B | ||
| Q1 25 | $3.5B | $1.5B | ||
| Q4 24 | $3.3B | $1.5B | ||
| Q3 24 | $3.4B | $1.5B | ||
| Q2 24 | $3.1B | $1.5B |
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $3.0B | ||
| Q3 25 | $32.3B | $3.0B | ||
| Q2 25 | $32.3B | $3.0B | ||
| Q1 25 | $32.4B | $3.0B | ||
| Q4 24 | $32.0B | $3.0B | ||
| Q3 24 | $31.5B | $2.9B | ||
| Q2 24 | $30.6B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.32× |
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 | — | $125.4M |
| Free Cash FlowOCF − Capex | — | $111.2M |
| FCF MarginFCF / Revenue | — | 11.9% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | — | 1.10× |
| TTM Free Cash FlowTrailing 4 quarters | — | $403.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $125.4M | ||
| Q3 25 | $129.0M | $167.8M | ||
| Q2 25 | $111.2M | $87.7M | ||
| Q1 25 | $138.6M | $90.4M | ||
| Q4 24 | $577.9M | $72.9M | ||
| Q3 24 | $431.7M | $126.0M | ||
| Q2 24 | $147.4M | $141.5M |
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $111.2M | ||
| Q3 25 | $113.3M | $147.5M | ||
| Q2 25 | $100.5M | $73.0M | ||
| Q1 25 | $126.0M | $71.5M | ||
| Q4 24 | $531.7M | $47.9M | ||
| Q3 24 | $419.1M | $106.2M | ||
| Q2 24 | $138.9M | $120.2M |
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | 11.9% | ||
| Q3 25 | 25.7% | 15.0% | ||
| Q2 25 | 22.5% | 7.8% | ||
| Q1 25 | 29.4% | 8.2% | ||
| Q4 24 | 126.0% | 5.3% | ||
| Q3 24 | 99.5% | 11.4% | ||
| Q2 24 | 33.5% | 13.0% |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 1.5% | ||
| Q3 25 | 3.6% | 2.1% | ||
| Q2 25 | 2.4% | 1.6% | ||
| Q1 25 | 2.9% | 2.2% | ||
| Q4 24 | 10.9% | 2.8% | ||
| Q3 24 | 3.0% | 2.1% | ||
| Q2 24 | 2.1% | 2.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | 1.10× | ||
| Q3 25 | 0.91× | 1.47× | ||
| Q2 25 | 0.73× | 1.52× | ||
| Q1 25 | 1.05× | 0.94× | ||
| Q4 24 | 4.25× | 0.74× | ||
| Q3 24 | 3.13× | 1.15× | ||
| Q2 24 | 1.06× | 1.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBSH
Segment breakdown not available.
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
