vs
Side-by-side financial comparison of COMMERCE BANCSHARES INC (CBSH) and WORKIVA INC (WK). Click either name above to swap in a different company.
COMMERCE BANCSHARES INC is the larger business by last-quarter revenue ($475.7M vs $238.9M, roughly 2.0× WORKIVA INC). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs 4.9%, a 24.8% gap on every dollar of revenue. On growth, WORKIVA INC posted the faster year-over-year revenue change (19.5% vs 11.1%). Over the past eight quarters, WORKIVA INC's revenue compounded faster (16.6% 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.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
CBSH vs WK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $475.7M | $238.9M |
| Net Profit | $141.6M | $11.8M |
| Gross Margin | — | 80.7% |
| Operating Margin | — | 3.3% |
| Net Margin | 29.8% | 4.9% |
| Revenue YoY | 11.1% | 19.5% |
| Net Profit YoY | 0.7% | 234.0% |
| EPS (diluted) | $0.96 | $0.21 |
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 | $238.9M | ||
| Q3 25 | $441.0M | $224.2M | ||
| Q2 25 | $445.8M | $215.2M | ||
| Q1 25 | $428.1M | $206.3M | ||
| Q4 24 | $422.1M | $199.9M | ||
| Q3 24 | $421.4M | $185.6M | ||
| Q2 24 | $414.5M | $177.5M |
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $11.8M | ||
| Q3 25 | $141.5M | $2.8M | ||
| Q2 25 | $152.5M | $-19.4M | ||
| Q1 25 | $131.6M | $-21.4M | ||
| Q4 24 | $136.1M | $-8.8M | ||
| Q3 24 | $138.0M | $-17.0M | ||
| Q2 24 | $139.6M | $-17.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 80.7% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 76.6% | ||
| Q4 24 | — | 77.1% | ||
| Q3 24 | — | 76.5% | ||
| Q2 24 | — | 76.8% |
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 3.3% | ||
| Q3 25 | 41.9% | -1.5% | ||
| Q2 25 | 44.0% | -10.3% | ||
| Q1 25 | 39.2% | -12.0% | ||
| Q4 24 | 41.2% | -6.7% | ||
| Q3 24 | 42.4% | -11.7% | ||
| Q2 24 | 43.4% | -13.0% |
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 4.9% | ||
| Q3 25 | 32.1% | 1.2% | ||
| Q2 25 | 34.2% | -9.0% | ||
| Q1 25 | 30.7% | -10.4% | ||
| Q4 24 | 32.2% | -4.4% | ||
| Q3 24 | 32.8% | -9.2% | ||
| Q2 24 | 33.7% | -9.9% |
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $0.21 | ||
| Q3 25 | $1.06 | $0.05 | ||
| Q2 25 | $1.14 | $-0.35 | ||
| Q1 25 | $0.98 | $-0.38 | ||
| Q4 24 | $0.83 | $-0.15 | ||
| Q3 24 | $1.01 | $-0.31 | ||
| Q2 24 | $1.03 | $-0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $338.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.3B | $-5.4M |
| Total Assets | $35.7B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $338.8M | ||
| Q3 25 | — | $315.9M | ||
| Q2 25 | — | $284.3M | ||
| Q1 25 | — | $242.0M | ||
| Q4 24 | — | $301.8M | ||
| Q3 24 | — | $248.2M | ||
| Q2 24 | — | $267.9M |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $-5.4M | ||
| Q3 25 | $3.8B | $-36.9M | ||
| Q2 25 | $3.6B | $-66.5M | ||
| Q1 25 | $3.5B | $-75.7M | ||
| Q4 24 | $3.3B | $-41.7M | ||
| Q3 24 | $3.4B | $-50.8M | ||
| Q2 24 | $3.1B | $-77.7M |
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $1.5B | ||
| Q3 25 | $32.3B | $1.4B | ||
| Q2 25 | $32.3B | $1.3B | ||
| Q1 25 | $32.4B | $1.3B | ||
| Q4 24 | $32.0B | $1.4B | ||
| Q3 24 | $31.5B | $1.3B | ||
| Q2 24 | $30.6B | $1.2B |
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 | — | $51.0M |
| Free Cash FlowOCF − Capex | — | $50.7M |
| FCF MarginFCF / Revenue | — | 21.2% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 4.31× |
| TTM Free Cash FlowTrailing 4 quarters | — | $138.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $51.0M | ||
| Q3 25 | $129.0M | $46.2M | ||
| Q2 25 | $111.2M | $50.3M | ||
| Q1 25 | $138.6M | $-7.4M | ||
| Q4 24 | $577.9M | $44.0M | ||
| Q3 24 | $431.7M | $18.9M | ||
| Q2 24 | $147.4M | $-14.0K |
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $50.7M | ||
| Q3 25 | $113.3M | $46.1M | ||
| Q2 25 | $100.5M | $49.3M | ||
| Q1 25 | $126.0M | $-8.1M | ||
| Q4 24 | $531.7M | $43.2M | ||
| Q3 24 | $419.1M | $18.7M | ||
| Q2 24 | $138.9M | $-122.0K |
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | 21.2% | ||
| Q3 25 | 25.7% | 20.5% | ||
| Q2 25 | 22.5% | 22.9% | ||
| Q1 25 | 29.4% | -3.9% | ||
| Q4 24 | 126.0% | 21.6% | ||
| Q3 24 | 99.5% | 10.1% | ||
| Q2 24 | 33.5% | -0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 0.1% | ||
| Q3 25 | 3.6% | 0.0% | ||
| Q2 25 | 2.4% | 0.5% | ||
| Q1 25 | 2.9% | 0.4% | ||
| Q4 24 | 10.9% | 0.4% | ||
| Q3 24 | 3.0% | 0.1% | ||
| Q2 24 | 2.1% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | 4.31× | ||
| Q3 25 | 0.91× | 16.57× | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 4.25× | — | ||
| Q3 24 | 3.13× | — | ||
| Q2 24 | 1.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBSH
Segment breakdown not available.
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
