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Side-by-side financial comparison of COMMERCE BANCSHARES INC (CBSH) and dLocal Ltd (DLO). Click either name above to swap in a different company.
COMMERCE BANCSHARES INC is the larger business by last-quarter revenue ($475.7M vs $337.9M, roughly 1.4× dLocal Ltd). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs 16.5%, a 13.3% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs 11.1%).
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.
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
CBSH vs DLO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $475.7M | $337.9M |
| Net Profit | $141.6M | $55.6M |
| Gross Margin | — | 34.3% |
| Operating Margin | — | 18.6% |
| Net Margin | 29.8% | 16.5% |
| Revenue YoY | 11.1% | 65.2% |
| Net Profit YoY | 10.5% | 87.3% |
| EPS (diluted) | $0.96 | $0.18 |
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 | $337.9M | ||
| Q3 25 | $441.0M | $282.5M | ||
| Q2 25 | $445.8M | — | ||
| Q1 25 | $428.1M | — | ||
| Q4 24 | $422.1M | $204.5M | ||
| Q3 24 | $421.4M | $185.8M | ||
| Q2 24 | $414.5M | — |
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $55.6M | ||
| Q3 25 | $141.5M | $141.3M | ||
| Q2 25 | $152.5M | — | ||
| Q1 25 | $131.6M | — | ||
| Q4 24 | $136.1M | $29.7M | ||
| Q3 24 | $138.0M | $90.8M | ||
| Q2 24 | $139.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 34.3% | ||
| Q3 25 | — | 36.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 40.9% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 18.6% | ||
| Q3 25 | 41.9% | 19.7% | ||
| Q2 25 | 44.0% | — | ||
| Q1 25 | 39.2% | — | ||
| Q4 24 | 41.2% | 20.7% | ||
| Q3 24 | 42.4% | 22.1% | ||
| Q2 24 | 43.4% | — |
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 16.5% | ||
| Q3 25 | 32.1% | 50.0% | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 32.2% | 14.5% | ||
| Q3 24 | 32.8% | 48.9% | ||
| Q2 24 | 33.7% | — |
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $0.18 | ||
| Q3 25 | $1.06 | $0.17 | ||
| Q2 25 | $1.14 | — | ||
| Q1 25 | $0.98 | — | ||
| Q4 24 | $0.83 | $0.09 | ||
| Q3 24 | $1.01 | $0.09 | ||
| Q2 24 | $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 | — | $719.9M |
| Total DebtLower is stronger | — | $86.7M |
| Stockholders' EquityBook value | $4.3B | $569.4M |
| Total Assets | $35.7B | $1.5B |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $719.9M | ||
| Q3 25 | — | $604.5M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $425.2M | ||
| Q3 24 | — | $560.5M | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $86.7M | ||
| Q3 25 | — | $63.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $39.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $569.4M | ||
| Q3 25 | $3.8B | $504.7M | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.3B | $489.0M | ||
| Q3 24 | $3.4B | $457.0M | ||
| Q2 24 | $3.1B | — |
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $1.5B | ||
| Q3 25 | $32.3B | $1.4B | ||
| Q2 25 | $32.3B | — | ||
| Q1 25 | $32.4B | — | ||
| Q4 24 | $32.0B | $1.2B | ||
| Q3 24 | $31.5B | — | ||
| Q2 24 | $30.6B | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $100.4M |
| Free Cash FlowOCF − Capex | — | $99.8M |
| FCF MarginFCF / Revenue | — | 29.5% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | — | $378.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $100.4M | ||
| Q3 25 | $129.0M | $315.0M | ||
| Q2 25 | $111.2M | — | ||
| Q1 25 | $138.6M | — | ||
| Q4 24 | $577.9M | $-141.1M | ||
| Q3 24 | $431.7M | $108.3M | ||
| Q2 24 | $147.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $99.8M | ||
| Q3 25 | $113.3M | $313.4M | ||
| Q2 25 | $100.5M | — | ||
| Q1 25 | $126.0M | — | ||
| Q4 24 | $531.7M | $-141.6M | ||
| Q3 24 | $419.1M | $107.1M | ||
| Q2 24 | $138.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | 29.5% | ||
| Q3 25 | 25.7% | 110.9% | ||
| Q2 25 | 22.5% | — | ||
| Q1 25 | 29.4% | — | ||
| Q4 24 | 126.0% | -69.2% | ||
| Q3 24 | 99.5% | 57.6% | ||
| Q2 24 | 33.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 0.2% | ||
| Q3 25 | 3.6% | 0.6% | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 10.9% | 0.2% | ||
| Q3 24 | 3.0% | 0.7% | ||
| Q2 24 | 2.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | 1.80× | ||
| Q3 25 | 0.91× | 2.23× | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 4.25× | -4.75× | ||
| Q3 24 | 3.13× | 1.19× | ||
| Q2 24 | 1.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
