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COMMERCE BANCSHARES INC（CBSH）与SUBURBAN PROPANE PARTNERS LP（SPH）财务数据对比。点击上方公司名可切换其他公司
COMMERCE BANCSHARES INC的季度营收约是SUBURBAN PROPANE PARTNERS LP的1.3倍（$475.7M vs $370.4M），COMMERCE BANCSHARES INC净利率更高（29.8% vs 12.4%，领先17.4%），COMMERCE BANCSHARES INC同比增速更快（11.1% vs -0.8%），过去两年COMMERCE BANCSHARES INC的营收复合增速更高（7.1% vs -13.8%）
Commerce Bancshares, Inc.是总部位于美国密苏里州的区域性银行控股公司，在堪萨斯城和圣路易斯设有核心办公点，旗下Commerce Bank提供多元化金融服务，覆盖企业及个人银行、财富管理、关联公司投资等业务。
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
CBSH vs SPH — 直观对比
营收规模更大
CBSH
是对方的1.3倍
$370.4M
营收增速更快
CBSH
高出11.9%
-0.8%
净利率更高
CBSH
高出17.4%
12.4%
两年增速更快
CBSH
近两年复合增速
-13.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $475.7M | $370.4M |
| 净利润 | $141.6M | $45.8M |
| 毛利率 | — | 64.7% |
| 营业利润率 | — | 18.3% |
| 净利率 | 29.8% | 12.4% |
| 营收同比 | 11.1% | -0.8% |
| 净利润同比 | 0.7% | 135.7% |
| 每股收益（稀释后） | $0.96 | $0.69 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CBSHSPH
| Q1 26 | $475.7M | — | ||
| Q4 25 | $449.4M | $370.4M | ||
| Q3 25 | $441.0M | $211.4M | ||
| Q2 25 | $445.8M | $260.1M | ||
| Q1 25 | $428.1M | $587.7M | ||
| Q4 24 | $422.1M | $373.3M | ||
| Q3 24 | $421.4M | $208.6M | ||
| Q2 24 | $414.5M | $254.6M |
净利润CBSHSPH
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $45.8M | ||
| Q3 25 | $141.5M | $-35.1M | ||
| Q2 25 | $152.5M | $-14.8M | ||
| Q1 25 | $131.6M | $137.1M | ||
| Q4 24 | $136.1M | $19.4M | ||
| Q3 24 | $138.0M | $-44.6M | ||
| Q2 24 | $139.6M | $-17.2M |
毛利率CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | — | 64.7% | ||
| Q3 25 | — | 64.7% | ||
| Q2 25 | — | 61.7% | ||
| Q1 25 | — | 58.8% | ||
| Q4 24 | — | 60.6% | ||
| Q3 24 | — | 59.4% | ||
| Q2 24 | — | 62.9% |
营业利润率CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 18.3% | ||
| Q3 25 | 41.9% | -7.9% | ||
| Q2 25 | 44.0% | 2.1% | ||
| Q1 25 | 39.2% | 27.0% | ||
| Q4 24 | 41.2% | 15.8% | ||
| Q3 24 | 42.4% | -10.8% | ||
| Q2 24 | 43.4% | 3.2% |
净利率CBSHSPH
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 12.4% | ||
| Q3 25 | 32.1% | -16.6% | ||
| Q2 25 | 34.2% | -5.7% | ||
| Q1 25 | 30.7% | 23.3% | ||
| Q4 24 | 32.2% | 5.2% | ||
| Q3 24 | 32.8% | -21.4% | ||
| Q2 24 | 33.7% | -6.8% |
每股收益（稀释后）CBSHSPH
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $0.69 | ||
| Q3 25 | $1.06 | $-0.55 | ||
| Q2 25 | $1.14 | $-0.23 | ||
| Q1 25 | $0.98 | $2.10 | ||
| Q4 24 | $0.83 | $0.30 | ||
| Q3 24 | $1.01 | $-0.69 | ||
| Q2 24 | $1.03 | $-0.27 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $1.3M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $4.3B | — |
| 总资产 | $35.7B | $2.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $405.0K | ||
| Q2 25 | — | $1.3M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $4.4M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $4.9M |
总债务CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B |
股东权益CBSHSPH
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.1B | — |
总资产CBSHSPH
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $2.4B | ||
| Q3 25 | $32.3B | $2.3B | ||
| Q2 25 | $32.3B | $2.3B | ||
| Q1 25 | $32.4B | $2.4B | ||
| Q4 24 | $32.0B | $2.4B | ||
| Q3 24 | $31.5B | $2.3B | ||
| Q2 24 | $30.6B | $2.3B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $-47.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-67.5M |
| 自由现金流率自由现金流/营收 | — | -18.2% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | — | -1.04× |
| 过去12个月自由现金流最近4个季度 | — | $61.9M |
8季度趋势，按日历期对齐
经营现金流CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $-47.7M | ||
| Q3 25 | $129.0M | $41.8M | ||
| Q2 25 | $111.2M | $95.5M | ||
| Q1 25 | $138.6M | $40.1M | ||
| Q4 24 | $577.9M | $8.8M | ||
| Q3 24 | $431.7M | $36.8M | ||
| Q2 24 | $147.4M | $61.4M |
自由现金流CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $-67.5M | ||
| Q3 25 | $113.3M | $27.7M | ||
| Q2 25 | $100.5M | $80.9M | ||
| Q1 25 | $126.0M | $20.8M | ||
| Q4 24 | $531.7M | $-15.1M | ||
| Q3 24 | $419.1M | $17.7M | ||
| Q2 24 | $138.9M | $46.8M |
自由现金流率CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | -18.2% | ||
| Q3 25 | 25.7% | 13.1% | ||
| Q2 25 | 22.5% | 31.1% | ||
| Q1 25 | 29.4% | 3.5% | ||
| Q4 24 | 126.0% | -4.0% | ||
| Q3 24 | 99.5% | 8.5% | ||
| Q2 24 | 33.5% | 18.4% |
资本支出强度CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 5.3% | ||
| Q3 25 | 3.6% | 6.7% | ||
| Q2 25 | 2.4% | 5.6% | ||
| Q1 25 | 2.9% | 3.3% | ||
| Q4 24 | 10.9% | 6.4% | ||
| Q3 24 | 3.0% | 9.1% | ||
| Q2 24 | 2.1% | 5.8% |
现金转化率CBSHSPH
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | -1.04× | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 1.05× | 0.29× | ||
| Q4 24 | 4.25× | 0.45× | ||
| Q3 24 | 3.13× | — | ||
| Q2 24 | 1.06× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CBSH
暂无分部数据
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
