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Side-by-side financial comparison of COMMERCE BANCSHARES INC (CBSH) and Duolingo, Inc. (DUOL). Click either name above to swap in a different company.
COMMERCE BANCSHARES INC is the larger business by last-quarter revenue ($475.7M vs $295.5M, roughly 1.6× Duolingo, Inc.). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs 11.9%, a 17.9% gap on every dollar of revenue. On growth, Duolingo, Inc. posted the faster year-over-year revenue change (27.0% vs 11.1%). Over the past eight quarters, Duolingo, Inc.'s revenue compounded faster (28.7% CAGR vs 7.1%).
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.
Duolingo, Inc. is a leading global edtech firm operating a gamified language learning platform. It offers free and premium self-paced courses for over 40 languages, plus language certification, math learning tools, and literacy programs, serving individual learners, schools and corporate clients worldwide.
CBSH vs DUOL — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $475.7M | $295.5M |
| Net Profit | $141.6M | $35.1M |
| Gross Margin | — | 55.5% |
| Operating Margin | — | 8.0% |
| Net Margin | 29.8% | 11.9% |
| Revenue YoY | 11.1% | 27.0% |
| Net Profit YoY | 10.5% | 24.0% |
| EPS (diluted) | $0.96 | $0.72 |
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 | $295.5M | ||
| Q4 25 | $449.4M | $282.9M | ||
| Q3 25 | $441.0M | $271.7M | ||
| Q2 25 | $445.8M | $252.3M | ||
| Q1 25 | $428.1M | $230.7M | ||
| Q4 24 | $422.1M | $209.6M | ||
| Q3 24 | $421.4M | $192.6M | ||
| Q2 24 | $414.5M | $178.3M |
| Q1 26 | $141.6M | $35.1M | ||
| Q4 25 | $140.7M | $42.0M | ||
| Q3 25 | $141.5M | $292.2M | ||
| Q2 25 | $152.5M | $44.8M | ||
| Q1 25 | $131.6M | $35.1M | ||
| Q4 24 | $136.1M | $13.9M | ||
| Q3 24 | $138.0M | $23.4M | ||
| Q2 24 | $139.6M | $24.4M |
| Q1 26 | — | 55.5% | ||
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.5% | ||
| Q2 25 | — | 72.4% | ||
| Q1 25 | — | 71.1% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.9% | ||
| Q2 24 | — | 73.4% |
| Q1 26 | — | 8.0% | ||
| Q4 25 | 40.8% | 15.4% | ||
| Q3 25 | 41.9% | 12.9% | ||
| Q2 25 | 44.0% | 13.2% | ||
| Q1 25 | 39.2% | 10.2% | ||
| Q4 24 | 41.2% | 6.6% | ||
| Q3 24 | 42.4% | 7.0% | ||
| Q2 24 | 43.4% | 10.5% |
| Q1 26 | 29.8% | 11.9% | ||
| Q4 25 | 31.3% | 14.8% | ||
| Q3 25 | 32.1% | 107.5% | ||
| Q2 25 | 34.2% | 17.8% | ||
| Q1 25 | 30.7% | 15.2% | ||
| Q4 24 | 32.2% | 6.6% | ||
| Q3 24 | 32.8% | 12.1% | ||
| Q2 24 | 33.7% | 13.7% |
| Q1 26 | $0.96 | $0.72 | ||
| Q4 25 | $0.86 | $0.99 | ||
| Q3 25 | $1.06 | $5.95 | ||
| Q2 25 | $1.14 | $0.91 | ||
| Q1 25 | $0.98 | $0.72 | ||
| Q4 24 | $0.83 | $0.31 | ||
| Q3 24 | $1.01 | $0.49 | ||
| Q2 24 | $1.03 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.3B | $1.3B |
| Total Assets | $35.7B | $2.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $976.2M | ||
| Q1 25 | — | $884.0M | ||
| Q4 24 | — | $785.8M | ||
| Q3 24 | — | $854.4M | ||
| Q2 24 | — | $888.2M |
| Q1 26 | $4.3B | $1.3B | ||
| Q4 25 | $3.8B | $1.3B | ||
| Q3 25 | $3.8B | $1.3B | ||
| Q2 25 | $3.6B | $977.0M | ||
| Q1 25 | $3.5B | $893.8M | ||
| Q4 24 | $3.3B | $824.5M | ||
| Q3 24 | $3.4B | $822.5M | ||
| Q2 24 | $3.1B | $766.9M |
| Q1 26 | $35.7B | $2.0B | ||
| Q4 25 | $32.9B | $2.0B | ||
| Q3 25 | $32.3B | $1.9B | ||
| Q2 25 | $32.3B | $1.5B | ||
| Q1 25 | $32.4B | $1.4B | ||
| Q4 24 | $32.0B | $1.3B | ||
| Q3 24 | $31.5B | $1.2B | ||
| Q2 24 | $30.6B | $1.1B |
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 | — | $105.6M |
| Free Cash FlowOCF − Capex | — | $103.0M |
| FCF MarginFCF / Revenue | — | 34.9% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.01× |
| TTM Free Cash FlowTrailing 4 quarters | — | $368.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $105.6M | ||
| Q4 25 | $645.1M | $107.3M | ||
| Q3 25 | $129.0M | $84.2M | ||
| Q2 25 | $111.2M | $90.7M | ||
| Q1 25 | $138.6M | $105.6M | ||
| Q4 24 | $577.9M | $83.3M | ||
| Q3 24 | $431.7M | $56.3M | ||
| Q2 24 | $147.4M | $62.4M |
| Q1 26 | — | $103.0M | ||
| Q4 25 | $592.4M | $96.6M | ||
| Q3 25 | $113.3M | $79.4M | ||
| Q2 25 | $100.5M | $89.5M | ||
| Q1 25 | $126.0M | $104.3M | ||
| Q4 24 | $531.7M | $81.4M | ||
| Q3 24 | $419.1M | $53.1M | ||
| Q2 24 | $138.9M | $56.8M |
| Q1 26 | — | 34.9% | ||
| Q4 25 | 131.8% | 34.1% | ||
| Q3 25 | 25.7% | 29.2% | ||
| Q2 25 | 22.5% | 35.5% | ||
| Q1 25 | 29.4% | 45.2% | ||
| Q4 24 | 126.0% | 38.8% | ||
| Q3 24 | 99.5% | 27.6% | ||
| Q2 24 | 33.5% | 31.9% |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 3.8% | ||
| Q3 25 | 3.6% | 1.8% | ||
| Q2 25 | 2.4% | 0.5% | ||
| Q1 25 | 2.9% | 0.6% | ||
| Q4 24 | 10.9% | 0.9% | ||
| Q3 24 | 3.0% | 1.7% | ||
| Q2 24 | 2.1% | 3.1% |
| Q1 26 | — | 3.01× | ||
| Q4 25 | 4.59× | 2.56× | ||
| Q3 25 | 0.91× | 0.29× | ||
| Q2 25 | 0.73× | 2.02× | ||
| Q1 25 | 1.05× | 3.01× | ||
| Q4 24 | 4.25× | 5.99× | ||
| Q3 24 | 3.13× | 2.41× | ||
| Q2 24 | 1.06× | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBSH
Segment breakdown not available.
DUOL
| Bookings | $283.5M | 96% |
| Other | $12.0M | 4% |
