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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and FIRST MID BANCSHARES, INC. (FMBH). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $88.2M, roughly 1.0× FIRST MID BANCSHARES, INC.). FIRST MID BANCSHARES, INC. runs the higher net margin — 26.8% vs -9.3%, a 36.2% gap on every dollar of revenue. On growth, FIRST MID BANCSHARES, INC. posted the faster year-over-year revenue change (3.4% vs 2.9%). FIRST MID BANCSHARES, INC. produced more free cash flow last quarter ($124.0M vs $-2.2M). Over the past eight quarters, Commerce.com, Inc.'s revenue compounded faster (5.5% CAGR vs 5.0%).
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
First Mid Bancshares Inc. is a U.S.-headquartered regional financial services holding company. It provides full-range retail and commercial banking products, wealth management, insurance solutions, and agricultural financing, mainly serving individual consumers, small and medium-sized enterprises, and agricultural clients across multiple Midwestern states including Illinois, Missouri, and Indiana.
CMRC vs FMBH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $88.2M |
| Net Profit | $-8.4M | $23.7M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | 34.0% |
| Net Margin | -9.3% | 26.8% |
| Revenue YoY | 2.9% | 3.4% |
| Net Profit YoY | -250.0% | 23.5% |
| EPS (diluted) | $-0.11 | $0.98 |
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.
| Q4 25 | $89.5M | $88.2M | ||
| Q3 25 | $86.0M | $89.3M | ||
| Q2 25 | $84.4M | $87.5M | ||
| Q1 25 | $82.4M | $84.3M | ||
| Q4 24 | $87.0M | $85.3M | ||
| Q3 24 | $83.7M | $80.6M | ||
| Q2 24 | $81.8M | $79.2M | ||
| Q1 24 | $80.4M | $79.9M |
| Q4 25 | $-8.4M | $23.7M | ||
| Q3 25 | $-2.2M | $22.5M | ||
| Q2 25 | $-8.4M | $23.4M | ||
| Q1 25 | $-353.0K | $22.2M | ||
| Q4 24 | $-2.4M | $19.2M | ||
| Q3 24 | $-7.0M | $19.5M | ||
| Q2 24 | $-11.3M | $19.7M | ||
| Q1 24 | $-6.4M | $20.5M |
| Q4 25 | 78.3% | — | ||
| Q3 25 | 78.4% | — | ||
| Q2 25 | 79.0% | — | ||
| Q1 25 | 79.4% | — | ||
| Q4 24 | 77.6% | — | ||
| Q3 24 | 76.3% | — | ||
| Q2 24 | 75.8% | — | ||
| Q1 24 | 77.1% | — |
| Q4 25 | -7.4% | 34.0% | ||
| Q3 25 | -0.5% | 32.2% | ||
| Q2 25 | -8.0% | 34.4% | ||
| Q1 25 | -2.9% | 33.4% | ||
| Q4 24 | -0.9% | 29.7% | ||
| Q3 24 | -23.0% | 31.5% | ||
| Q2 24 | -16.5% | 33.7% | ||
| Q1 24 | -10.2% | 33.7% |
| Q4 25 | -9.3% | 26.8% | ||
| Q3 25 | -2.6% | 25.2% | ||
| Q2 25 | -9.9% | 26.8% | ||
| Q1 25 | -0.4% | 26.3% | ||
| Q4 24 | -2.7% | 22.5% | ||
| Q3 24 | -8.4% | 24.2% | ||
| Q2 24 | -13.8% | 24.9% | ||
| Q1 24 | -8.0% | 25.6% |
| Q4 25 | $-0.11 | $0.98 | ||
| Q3 25 | $-0.03 | $0.94 | ||
| Q2 25 | $-0.10 | $0.98 | ||
| Q1 25 | $0.00 | $0.93 | ||
| Q4 24 | $-0.03 | $0.81 | ||
| Q3 24 | $-0.09 | $0.81 | ||
| Q2 24 | $-0.15 | $0.82 | ||
| Q1 24 | $-0.08 | $0.86 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $141.1M | — |
| Total DebtLower is stronger | $157.0M | $354.5M |
| Stockholders' EquityBook value | $39.4M | $958.7M |
| Total Assets | $308.8M | $8.0B |
| Debt / EquityLower = less leverage | 3.99× | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | — | ||
| Q3 25 | $142.0M | — | ||
| Q2 25 | $134.5M | — | ||
| Q1 25 | $120.7M | — | ||
| Q4 24 | $178.2M | — | ||
| Q3 24 | $168.4M | — | ||
| Q2 24 | $275.8M | — | ||
| Q1 24 | $265.2M | — |
| Q4 25 | $157.0M | $354.5M | ||
| Q3 25 | $157.3M | — | ||
| Q2 25 | $157.5M | — | ||
| Q1 25 | $157.8M | — | ||
| Q4 24 | $216.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $340.9M | — | ||
| Q1 24 | $340.5M | — |
| Q4 25 | $39.4M | $958.7M | ||
| Q3 25 | $42.8M | $932.2M | ||
| Q2 25 | $38.8M | $894.1M | ||
| Q1 25 | $38.1M | $870.9M | ||
| Q4 24 | $33.4M | $846.4M | ||
| Q3 24 | $29.0M | $858.5M | ||
| Q2 24 | $26.1M | $813.6M | ||
| Q1 24 | $26.9M | $798.0M |
| Q4 25 | $308.8M | $8.0B | ||
| Q3 25 | $309.5M | $7.8B | ||
| Q2 25 | $302.5M | $7.7B | ||
| Q1 25 | $286.3M | $7.6B | ||
| Q4 24 | $340.3M | $7.5B | ||
| Q3 24 | $335.1M | $7.6B | ||
| Q2 24 | $452.5M | $7.6B | ||
| Q1 24 | $442.5M | $7.7B |
| Q4 25 | 3.99× | 0.37× | ||
| Q3 25 | 3.67× | — | ||
| Q2 25 | 4.06× | — | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | 6.49× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 13.06× | — | ||
| Q1 24 | 12.65× | — |
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 | $980.0K | $130.9M |
| Free Cash FlowOCF − Capex | $-2.2M | $124.0M |
| FCF MarginFCF / Revenue | -2.4% | 140.6% |
| Capex IntensityCapex / Revenue | 3.5% | 7.8% |
| Cash ConversionOCF / Net Profit | — | 5.53× |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $207.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $130.9M | ||
| Q3 25 | $10.6M | $33.0M | ||
| Q2 25 | $13.6M | $7.7M | ||
| Q1 25 | $401.0K | $47.9M | ||
| Q4 24 | $12.4M | $124.4M | ||
| Q3 24 | $5.6M | $33.1M | ||
| Q2 24 | $11.7M | $24.0M | ||
| Q1 24 | $-3.4M | $29.0M |
| Q4 25 | $-2.2M | $124.0M | ||
| Q3 25 | $7.6M | $31.9M | ||
| Q2 25 | $11.9M | $6.0M | ||
| Q1 25 | $-424.0K | $46.0M | ||
| Q4 24 | $11.6M | $119.5M | ||
| Q3 24 | $4.5M | $32.0M | ||
| Q2 24 | $10.7M | $22.9M | ||
| Q1 24 | $-4.2M | $27.6M |
| Q4 25 | -2.4% | 140.6% | ||
| Q3 25 | 8.8% | 35.8% | ||
| Q2 25 | 14.1% | 6.8% | ||
| Q1 25 | -0.5% | 54.5% | ||
| Q4 24 | 13.3% | 140.0% | ||
| Q3 24 | 5.4% | 39.7% | ||
| Q2 24 | 13.0% | 28.9% | ||
| Q1 24 | -5.3% | 34.5% |
| Q4 25 | 3.5% | 7.8% | ||
| Q3 25 | 3.4% | 1.2% | ||
| Q2 25 | 2.0% | 2.0% | ||
| Q1 25 | 1.0% | 2.3% | ||
| Q4 24 | 0.9% | 5.8% | ||
| Q3 24 | 1.3% | 1.4% | ||
| Q2 24 | 1.3% | 1.4% | ||
| Q1 24 | 1.0% | 1.9% |
| Q4 25 | — | 5.53× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 2.16× | ||
| Q4 24 | — | 6.49× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | — | 1.21× | ||
| Q1 24 | — | 1.42× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
FMBH
Segment breakdown not available.
