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COMMERCE BANCSHARES INC（CBSH）与UNITED BANKSHARES INC（UBSI）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UNITED BANKSHARES INC的1.5倍（$475.7M vs $318.4M），UNITED BANKSHARES INC净利率更高（40.5% vs 29.8%，领先10.7%），UNITED BANKSHARES INC同比增速更快（21.6% vs 11.1%），过去两年UNITED BANKSHARES INC的营收复合增速更高（11.8% vs 7.1%）
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。
United Bankshares Inc（WV）是总部位于美国西弗吉尼亚州的区域性金融控股集团，主要面向大西洋中部及东南部市场运营，为个人、小微企业及企业客户提供存贷款、财富管理、住房按揭等多元化金融服务。
CBSH vs UBSI — 直观对比
营收规模更大
CBSH
是对方的1.5倍
$318.4M
营收增速更快
UBSI
高出10.4%
11.1%
净利率更高
UBSI
高出10.7%
29.8%
两年增速更快
UBSI
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $475.7M | $318.4M |
| 净利润 | $141.6M | $128.8M |
| 毛利率 | — | — |
| 营业利润率 | — | 50.2% |
| 净利率 | 29.8% | 40.5% |
| 营收同比 | 11.1% | 21.6% |
| 净利润同比 | 0.7% | 36.5% |
| 每股收益（稀释后） | $0.96 | $0.91 |
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CBSHUBSI
| Q1 26 | $475.7M | — | ||
| Q4 25 | $449.4M | $318.4M | ||
| Q3 25 | $441.0M | $323.3M | ||
| Q2 25 | $445.8M | $306.0M | ||
| Q1 25 | $428.1M | $289.6M | ||
| Q4 24 | $422.1M | $261.9M | ||
| Q3 24 | $421.4M | $262.2M | ||
| Q2 24 | $414.5M | $255.9M |
净利润CBSHUBSI
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $128.8M | ||
| Q3 25 | $141.5M | $130.7M | ||
| Q2 25 | $152.5M | $120.7M | ||
| Q1 25 | $131.6M | $84.3M | ||
| Q4 24 | $136.1M | $94.4M | ||
| Q3 24 | $138.0M | $95.3M | ||
| Q2 24 | $139.6M | $96.5M |
营业利润率CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 50.2% | ||
| Q3 25 | 41.9% | 50.9% | ||
| Q2 25 | 44.0% | 49.7% | ||
| Q1 25 | 39.2% | 36.9% | ||
| Q4 24 | 41.2% | 46.2% | ||
| Q3 24 | 42.4% | 45.7% | ||
| Q2 24 | 43.4% | 45.1% |
净利率CBSHUBSI
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 40.5% | ||
| Q3 25 | 32.1% | 40.4% | ||
| Q2 25 | 34.2% | 39.5% | ||
| Q1 25 | 30.7% | 29.1% | ||
| Q4 24 | 32.2% | 36.0% | ||
| Q3 24 | 32.8% | 36.3% | ||
| Q2 24 | 33.7% | 37.7% |
每股收益（稀释后）CBSHUBSI
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $0.91 | ||
| Q3 25 | $1.06 | $0.92 | ||
| Q2 25 | $1.14 | $0.85 | ||
| Q1 25 | $0.98 | $0.59 | ||
| Q4 24 | $0.83 | $0.70 | ||
| Q3 24 | $1.01 | $0.70 | ||
| Q2 24 | $1.03 | $0.71 |
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 | — | — |
| 总债务越低越好 | — | $531.8M |
| 股东权益账面价值 | $4.3B | $5.5B |
| 总资产 | $35.7B | $33.7B |
| 负债/权益比越低杠杆越低 | — | 0.10× |
8季度趋势，按日历期对齐
总债务CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | — | $531.8M | ||
| Q3 25 | — | $250.0M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $250.0M | ||
| Q4 24 | — | $540.4M | ||
| Q3 24 | — | $260.3M | ||
| Q2 24 | — | $1.2B |
股东权益CBSHUBSI
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $5.5B | ||
| Q3 25 | $3.8B | $5.4B | ||
| Q2 25 | $3.6B | $5.4B | ||
| Q1 25 | $3.5B | $5.3B | ||
| Q4 24 | $3.3B | $5.0B | ||
| Q3 24 | $3.4B | $5.0B | ||
| Q2 24 | $3.1B | $4.9B |
总资产CBSHUBSI
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $33.7B | ||
| Q3 25 | $32.3B | $33.4B | ||
| Q2 25 | $32.3B | $32.8B | ||
| Q1 25 | $32.4B | $32.8B | ||
| Q4 24 | $32.0B | $30.0B | ||
| Q3 24 | $31.5B | $29.9B | ||
| Q2 24 | $30.6B | $30.0B |
负债/权益比CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | — | 0.10× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.05× | ||
| Q2 24 | — | 0.25× |
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 | — | $498.9M |
| 自由现金流经营现金流 - 资本支出 | — | $481.2M |
| 自由现金流率自由现金流/营收 | — | 151.1% |
| 资本支出强度资本支出/营收 | — | 5.6% |
| 现金转化率经营现金流/净利润 | — | 3.87× |
| 过去12个月自由现金流最近4个季度 | — | $828.9M |
8季度趋势，按日历期对齐
经营现金流CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $498.9M | ||
| Q3 25 | $129.0M | $150.6M | ||
| Q2 25 | $111.2M | $89.4M | ||
| Q1 25 | $138.6M | $120.0M | ||
| Q4 24 | $577.9M | $445.5M | ||
| Q3 24 | $431.7M | $123.6M | ||
| Q2 24 | $147.4M | $61.2M |
自由现金流CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $481.2M | ||
| Q3 25 | $113.3M | $146.4M | ||
| Q2 25 | $100.5M | $85.2M | ||
| Q1 25 | $126.0M | $116.1M | ||
| Q4 24 | $531.7M | $433.3M | ||
| Q3 24 | $419.1M | $122.0M | ||
| Q2 24 | $138.9M | $58.2M |
自由现金流率CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | 151.1% | ||
| Q3 25 | 25.7% | 45.3% | ||
| Q2 25 | 22.5% | 27.8% | ||
| Q1 25 | 29.4% | 40.1% | ||
| Q4 24 | 126.0% | 165.4% | ||
| Q3 24 | 99.5% | 46.5% | ||
| Q2 24 | 33.5% | 22.7% |
资本支出强度CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 5.6% | ||
| Q3 25 | 3.6% | 1.3% | ||
| Q2 25 | 2.4% | 1.4% | ||
| Q1 25 | 2.9% | 1.3% | ||
| Q4 24 | 10.9% | 4.6% | ||
| Q3 24 | 3.0% | 0.6% | ||
| Q2 24 | 2.1% | 1.2% |
现金转化率CBSHUBSI
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | 3.87× | ||
| Q3 25 | 0.91× | 1.15× | ||
| Q2 25 | 0.73× | 0.74× | ||
| Q1 25 | 1.05× | 1.42× | ||
| Q4 24 | 4.25× | 4.72× | ||
| Q3 24 | 3.13× | 1.30× | ||
| Q2 24 | 1.06× | 0.63× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
