Commerce.com, Inc. (CMRC) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Commerce.com, Inc. $2.73, price $3.15, upside -13.3%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $2.06 – $71.33 · fair‑value band $1.24 – $5.00 · the $3.15 price screens above the $2.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Commerce.com, Inc. provides artificial intelligence-driven commerce ecosystem in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally.
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Commerce.com, Inc. provides artificial intelligence-driven commerce ecosystem in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company's software-as-a-service platform enables merchants to orchestrate sophisticated digital commerce experiences across both owned and third-party channels, supporting various business-to-business (B2B), business-to-consumer (B2C), and small business (SB) use cases. It also offers BigCommerce, a flexible and open commerce engine; Feedonomics, an AI-powered product data optimization and syndication platform; and Makeswift, a visual editor for building and managing storefront and content experiences. The company was formerly known as BigCommerce Holdings, Inc. and changed its name to Commerce.com, Inc. in July 2025. Commerce.com, Inc. was founded in 2009 and is headquartered in Austin, Texas.
Stock analysis
Commerce.com, Inc. (CMRC) currently trades at $3.15, while our model-based Fair Value estimate is $2.73, implying the stock looks roughly 15.4% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $2.91 per share, and 2 of the 7 models we run sit above the $3.15 price.
Bear case: the Asset-Based group reads lowest at $0.3200, and 5 of the 7 models stay below the price. Evidence for this calculation is medium.
Scenario range: $1.24 (bear) to $5.00 (bull), the price of $3.15 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Commerce.com, Inc. reported revenue of $342M in FY2025 versus $220M in FY2021, a compound +11.7%/yr. Reported net income was −$19.3M in FY2025.
Key figures
Market cap $253M · P/S ratio 0.65 · EPS (TTM) $−0.1900 · Net margin −5.6% · Return on equity −35.9% · Return on assets (EBIT) −15.4% · Operating margin 7.7% · Revenue (TTM) $347M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 53% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at −13%, CMRC screens richer than that median.
Fair Value models
Bear $1.24Fair Value $2.73Bull $5.00
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.6%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.7%
’18
’19
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’21
’22
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’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−25.4% (2020) → −4.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +8.4% a year for the price and +1.8% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 721 stocks
Beats the industry median on 2/10 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−13% · Below median
Profitability
Return on assets0% · Below median
Net margin (TTM)−4% · Below median
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth5% · Below median
Balance sheet
Debt / equity3.89× · Highest 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
P/B6.43× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Commerce.com, Inc. Fair Value". https://www.fairvalue-calculator.com/stock/CMRC
Frequently asked questions
Is Commerce.com, Inc. (CMRC) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $2.73 versus a price of $3.15, about −13% upside (overvalued).
What is the fair value of CMRC?
Our model-based fair value for Commerce.com, Inc. is $2.73 (as of Sep 23, 2026), built from audited fundamentals. The current price: $3.15.
What is the quality score of CMRC?
Commerce.com, Inc. has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Commerce.com, Inc. (CMRC)?
Our model-based price target is the fair value of $2.73 (as of Sep 23, 2026) from 7 valuation models. Cautious scenario $1.24, optimistic scenario $5.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Commerce.com, Inc. stock forecast for 2026?
Our models put fair value at $2.73, about −13% upside versus a price of $3.15 (overvalued). Cautious scenario $1.24, optimistic scenario $5.00. The calculation is refreshed regularly with new filings.
What is the revenue of Commerce.com, Inc. (CMRC)?
Commerce.com, Inc. reported trailing-twelve-month revenue of about $347M (latest available figure, as of Sep 23, 2026).
What growth is priced into Commerce.com, Inc. (CMRC)?
For today's price to be fair in a discounted-cash-flow model, Commerce.com, Inc. would have to grow free cash flow by +10.9 % per year for five years (discount rate 13.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.6 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of CMRC use?
Our models discount Commerce.com, Inc. at 13.2 %: a base by market capitalisation (micro), damped by beta 1.15, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Commerce.com, Inc. that is +10.9 % per year a year over ten years, using the same discount rate (13.2 %) and the same formula as our fair value.
How much growth has Commerce.com, Inc. (CMRC) delivered so far?
Over the past 5 years revenue at Commerce.com, Inc. grew +17.6 % a year. The price currently implies +10.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Commerce.com, Inc. (CMRC) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Commerce.com, Inc. (+10.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Commerce.com, Inc. (CMRC)?
The free-cash-flow yield on the price is 7.43 %: that much free cash flow Commerce.com, Inc. produces per unit of market value. When it exceeds the discount rate of our models (13.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Commerce.com, Inc. (CMRC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Commerce.com, Inc. it is $2.73 per share (as of Sep 23, 2026), against a price of $3.15. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Commerce.com, Inc. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, CMRC trades above its calculated fair value: price $3.15, fair value $2.73, a gap of about −13% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CMRC?
No. The price is what the market pays today ($3.15); the fair value is what the company's own numbers justify ($2.73). For Commerce.com, Inc. the two are $0.4200 per share apart. That gap is exactly why we show both numbers side by side.
How much is Commerce.com, Inc. worth?
The market values Commerce.com, Inc. at about $253M (market capitalisation, as of Sep 23, 2026). Per share that is $3.15; our models calculate a fair value of $2.73 per share.
What do the bullish and bearish scenarios say about CMRC?
Our models span a range for Commerce.com, Inc.: cautious scenario $1.24, base $2.73, optimistic $5.00 per share (as of Sep 23, 2026, price $3.15). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Commerce.com, Inc. (CMRC)?
Balance-sheet figures for Commerce.com, Inc. (as of Sep 23, 2026): return on equity −35.9%, debt of 3.89 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is CMRC from its 52-week high?
Commerce.com, Inc. trades at $3.15, about 43% below its 52-week high of $5.51 and 53% above the low of $2.06 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $2.73 is for.
Which stocks are comparable to Commerce.com, Inc.?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Commerce.com, Inc. stock attractive at the current price?
The data as of Sep 23, 2026: price $3.15, calculated fair value $2.73 (−13%), Quality Score 49/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CMRC calculated?
We run Commerce.com, Inc. through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.73, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Commerce.com, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Commerce.com, Inc. (CMRC)?
The closing price on Sep 24, 2026 was $3.15. Our model-based fair value is $2.73, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Commerce.com, Inc. right now?
The model range is unusually wide ($1.24 to $5.00). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Commerce.com, Inc.
How large is the market capitalisation of Commerce.com, Inc. (CMRC)?
The market capitalisation of Commerce.com, Inc. is $253M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Commerce.com, Inc. (CMRC)?
The price-to-sales ratio of Commerce.com, Inc. is 0.65 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Commerce.com, Inc. (CMRC)?
Earnings per share at Commerce.com, Inc. are $−0.1900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Commerce.com, Inc. (CMRC)?
The net margin of Commerce.com, Inc. is −5.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Commerce.com, Inc. (CMRC)?
The return on equity (ROE) of Commerce.com, Inc. is −35.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Commerce.com, Inc. (CMRC)?
On an EBIT basis the return on assets of Commerce.com, Inc. is −15.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Commerce.com, Inc. (CMRC)?
The operating margin of Commerce.com, Inc. is 7.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Commerce.com, Inc. (CMRC)?
Revenue at Commerce.com, Inc. is growing +5.4% versus a year earlier (3y avg +7.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Commerce.com, Inc. (CMRC) carry?
The net debt of Commerce.com, Inc. is $121M (fiscal year 2025, ≈ 6.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Sep 23, 2026