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Side-by-side financial comparison of COMMERCE BANCSHARES INC (CBSH) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
COMMERCE BANCSHARES INC is the larger business by last-quarter revenue ($475.7M vs $335.6M, roughly 1.4× Natural Grocers by Vitamin Cottage, Inc.). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs 3.4%, a 26.4% gap on every dollar of revenue. On growth, COMMERCE BANCSHARES INC posted the faster year-over-year revenue change (11.1% vs 1.6%). Over the past eight quarters, COMMERCE BANCSHARES INC's revenue compounded faster (7.1% CAGR vs 4.4%).
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.
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
CBSH vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $475.7M | $335.6M |
| Net Profit | $141.6M | $11.3M |
| Gross Margin | — | 29.5% |
| Operating Margin | — | 4.4% |
| Net Margin | 29.8% | 3.4% |
| Revenue YoY | 11.1% | 1.6% |
| Net Profit YoY | 10.5% | 14.0% |
| EPS (diluted) | $0.96 | $0.49 |
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 | $335.6M | ||
| Q3 25 | $441.0M | $336.1M | ||
| Q2 25 | $445.8M | $328.7M | ||
| Q1 25 | $428.1M | $335.8M | ||
| Q4 24 | $422.1M | $330.2M | ||
| Q3 24 | $421.4M | $322.7M | ||
| Q2 24 | $414.5M | $309.1M |
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $11.3M | ||
| Q3 25 | $141.5M | $11.8M | ||
| Q2 25 | $152.5M | $11.6M | ||
| Q1 25 | $131.6M | $13.1M | ||
| Q4 24 | $136.1M | $9.9M | ||
| Q3 24 | $138.0M | $9.0M | ||
| Q2 24 | $139.6M | $9.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 29.2% |
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 4.4% | ||
| Q3 25 | 41.9% | 4.6% | ||
| Q2 25 | 44.0% | 4.7% | ||
| Q1 25 | 39.2% | 5.2% | ||
| Q4 24 | 41.2% | 4.0% | ||
| Q3 24 | 42.4% | 3.7% | ||
| Q2 24 | 43.4% | 4.2% |
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 3.4% | ||
| Q3 25 | 32.1% | 3.5% | ||
| Q2 25 | 34.2% | 3.5% | ||
| Q1 25 | 30.7% | 3.9% | ||
| Q4 24 | 32.2% | 3.0% | ||
| Q3 24 | 32.8% | 2.8% | ||
| Q2 24 | 33.7% | 3.0% |
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $0.49 | ||
| Q3 25 | $1.06 | $0.51 | ||
| Q2 25 | $1.14 | $0.50 | ||
| Q1 25 | $0.98 | $0.56 | ||
| Q4 24 | $0.83 | $0.43 | ||
| Q3 24 | $1.01 | $0.38 | ||
| Q2 24 | $1.03 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.3B | $220.0M |
| Total Assets | $35.7B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $17.1M | ||
| Q2 25 | — | $13.2M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | — | $6.3M | ||
| Q3 24 | — | $8.9M | ||
| Q2 24 | — | $13.9M |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $220.0M | ||
| Q3 25 | $3.8B | $212.4M | ||
| Q2 25 | $3.6B | $202.5M | ||
| Q1 25 | $3.5B | $193.0M | ||
| Q4 24 | $3.3B | $181.9M | ||
| Q3 24 | $3.4B | $174.3M | ||
| Q2 24 | $3.1B | $167.8M |
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $668.6M | ||
| Q3 25 | $32.3B | $670.5M | ||
| Q2 25 | $32.3B | $659.0M | ||
| Q1 25 | $32.4B | $664.6M | ||
| Q4 24 | $32.0B | $648.9M | ||
| Q3 24 | $31.5B | $655.5M | ||
| Q2 24 | $30.6B | $654.4M |
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 | — | $21.1M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $21.1M | ||
| Q3 25 | $129.0M | $15.6M | ||
| Q2 25 | $111.2M | $2.9M | ||
| Q1 25 | $138.6M | $34.1M | ||
| Q4 24 | $577.9M | $2.7M | ||
| Q3 24 | $431.7M | $24.5M | ||
| Q2 24 | $147.4M | $12.4M |
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $11.6M | ||
| Q3 25 | $113.3M | $7.5M | ||
| Q2 25 | $100.5M | $-4.2M | ||
| Q1 25 | $126.0M | $27.6M | ||
| Q4 24 | $531.7M | $-6.9M | ||
| Q3 24 | $419.1M | $18.0M | ||
| Q2 24 | $138.9M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | 3.4% | ||
| Q3 25 | 25.7% | 2.2% | ||
| Q2 25 | 22.5% | -1.3% | ||
| Q1 25 | 29.4% | 8.2% | ||
| Q4 24 | 126.0% | -2.1% | ||
| Q3 24 | 99.5% | 5.6% | ||
| Q2 24 | 33.5% | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 2.9% | ||
| Q3 25 | 3.6% | 2.4% | ||
| Q2 25 | 2.4% | 2.2% | ||
| Q1 25 | 2.9% | 1.9% | ||
| Q4 24 | 10.9% | 2.9% | ||
| Q3 24 | 3.0% | 2.0% | ||
| Q2 24 | 2.1% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | 1.86× | ||
| Q3 25 | 0.91× | 1.32× | ||
| Q2 25 | 0.73× | 0.25× | ||
| Q1 25 | 1.05× | 2.60× | ||
| Q4 24 | 4.25× | 0.27× | ||
| Q3 24 | 3.13× | 2.72× | ||
| Q2 24 | 1.06× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBSH
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
