• Commerce Bancshares average gross margin for 2023 was 86.61%, a 11.78% decline from 2022.
• Commerce Bancshares average gross margin for 2022 was 98.17%, a 0.57% decline from 2021.
• Commerce Bancshares average gross margin for 2021 was 98.73%, a 4.1% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.