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Side-by-side financial comparison of COMMERCE BANCSHARES INC (CBSH) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($625.1M vs $475.7M, roughly 1.3× COMMERCE BANCSHARES INC). COMMERCE BANCSHARES INC runs the higher net margin — 29.8% vs 13.4%, a 16.4% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 11.1%). Over the past eight quarters, COMMERCE BANCSHARES INC's revenue compounded faster (7.1% CAGR vs 4.6%).
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
CBSH vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $475.7M | $625.1M |
| Net Profit | $141.6M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | — | 18.2% |
| Net Margin | 29.8% | 13.4% |
| Revenue YoY | 11.1% | 15.7% |
| Net Profit YoY | 10.5% | 24.0% |
| EPS (diluted) | $0.96 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $441.0M | $611.7M | ||
| Q2 25 | $445.8M | $643.7M | ||
| Q1 25 | $428.1M | $558.0M | ||
| Q4 24 | $422.1M | $540.4M | ||
| Q3 24 | $421.4M | $543.6M | ||
| Q2 24 | $414.5M | $597.3M |
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $83.7M | ||
| Q3 25 | $141.5M | $82.2M | ||
| Q2 25 | $152.5M | $100.9M | ||
| Q1 25 | $131.6M | $74.0M | ||
| Q4 24 | $136.1M | $67.5M | ||
| Q3 24 | $138.0M | $69.1M | ||
| Q2 24 | $139.6M | $82.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% |
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 18.2% | ||
| Q3 25 | 41.9% | 18.2% | ||
| Q2 25 | 44.0% | 21.0% | ||
| Q1 25 | 39.2% | 15.7% | ||
| Q4 24 | 41.2% | 16.5% | ||
| Q3 24 | 42.4% | 17.1% | ||
| Q2 24 | 43.4% | 18.7% |
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 13.4% | ||
| Q3 25 | 32.1% | 13.4% | ||
| Q2 25 | 34.2% | 15.7% | ||
| Q1 25 | 30.7% | 13.3% | ||
| Q4 24 | 32.2% | 12.5% | ||
| Q3 24 | 32.8% | 12.7% | ||
| Q2 24 | 33.7% | 13.7% |
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $2.50 | ||
| Q3 25 | $1.06 | $2.45 | ||
| Q2 25 | $1.14 | $3.01 | ||
| Q1 25 | $0.98 | $2.21 | ||
| Q4 24 | $0.83 | $2.02 | ||
| Q3 24 | $1.01 | $2.06 | ||
| Q2 24 | $1.03 | $2.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.3B | $2.0B |
| Total Assets | $35.7B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $405.5M | ||
| Q3 25 | — | $457.7M | ||
| Q2 25 | — | $369.3M | ||
| Q1 25 | — | $336.8M | ||
| Q4 24 | — | $386.9M | ||
| Q3 24 | — | $303.9M | ||
| Q2 24 | — | $279.4M |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $2.0B | ||
| Q3 25 | $3.8B | $2.0B | ||
| Q2 25 | $3.6B | $1.9B | ||
| Q1 25 | $3.5B | $1.8B | ||
| Q4 24 | $3.3B | $1.7B | ||
| Q3 24 | $3.4B | $1.7B | ||
| Q2 24 | $3.1B | $1.6B |
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $2.9B | ||
| Q3 25 | $32.3B | $2.7B | ||
| Q2 25 | $32.3B | $2.6B | ||
| Q1 25 | $32.4B | $2.5B | ||
| Q4 24 | $32.0B | $2.4B | ||
| Q3 24 | $31.5B | $2.4B | ||
| Q2 24 | $30.6B | $2.4B |
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 | — | $154.7M |
| Free Cash FlowOCF − Capex | — | $140.3M |
| FCF MarginFCF / Revenue | — | 22.4% |
| Capex IntensityCapex / Revenue | — | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $154.7M | ||
| Q3 25 | $129.0M | $122.4M | ||
| Q2 25 | $111.2M | $69.7M | ||
| Q1 25 | $138.6M | $55.2M | ||
| Q4 24 | $577.9M | $139.5M | ||
| Q3 24 | $431.7M | $90.7M | ||
| Q2 24 | $147.4M | $85.3M |
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $140.3M | ||
| Q3 25 | $113.3M | $110.9M | ||
| Q2 25 | $100.5M | $59.5M | ||
| Q1 25 | $126.0M | $45.6M | ||
| Q4 24 | $531.7M | $127.5M | ||
| Q3 24 | $419.1M | $84.3M | ||
| Q2 24 | $138.9M | $78.5M |
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | 22.4% | ||
| Q3 25 | 25.7% | 18.1% | ||
| Q2 25 | 22.5% | 9.2% | ||
| Q1 25 | 29.4% | 8.2% | ||
| Q4 24 | 126.0% | 23.6% | ||
| Q3 24 | 99.5% | 15.5% | ||
| Q2 24 | 33.5% | 13.1% |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 2.3% | ||
| Q3 25 | 3.6% | 1.9% | ||
| Q2 25 | 2.4% | 1.6% | ||
| Q1 25 | 2.9% | 1.7% | ||
| Q4 24 | 10.9% | 2.2% | ||
| Q3 24 | 3.0% | 1.2% | ||
| Q2 24 | 2.1% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | 1.85× | ||
| Q3 25 | 0.91× | 1.49× | ||
| Q2 25 | 0.73× | 0.69× | ||
| Q1 25 | 1.05× | 0.75× | ||
| Q4 24 | 4.25× | 2.07× | ||
| Q3 24 | 3.13× | 1.31× | ||
| Q2 24 | 1.06× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
