Cullen/Frost Bankers, Inc.

Cullen/Frost Bankers, Inc.

158.16
USD
+0.11
(+0.07%)
10.98EPS
14.04P/E
9.47BMarket Cap
Jan 28Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
15.3
16.22
16.98
18.05
18.89
20.55
21.8
22.98
21.56
26.44
30.95
32.18
34.9
37.18
Basic EPS, GAAP
3.83
4.35
4.32
4.75
5.59
7.01
6.94
5.25
6.85
8.92
9.21
8.98
10.02
10.87
Free Cash Flow per Basic Share
2.22
2.54
3.95
6.16
7.91
7.58
6.81
6.84
9.16
9.67
4.99
13.44
1.99
9.21
Dividend per Share
2.09
2.18
2.23
2.29
2.39
2.72
2.95
2.91
3.08
3.37
3.72
3.89
4.09
4.21
Book Value per Share
39.13
42.87
44.3
45.03
49.68
51.19
60.11
65.82
67.11
46.49
55.64
58.46
69.96
61.7
Tangible Book Value per Share
30.16
32.31
33.6
34.6
39.28
40.74
49.62
55.4
56.86
36.31
55.64
58.46
69.96
61.7
Basic Weighted Avg Shares
60
62
63
62
64
64
63
63
64
64
64
64
64
63
Sales/Revenue/Turnover
923
1,007
1,065
1,126
1,203
1,309
1,368
1,441
1,372
1,696
1,987
2,064
2,235
2,336
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
38
40
42
48
48
50
54
64
69
71
76
83
88
89
Net Income, GAAP
238
278
279
304
364
455
444
331
443
579
598
583
649
690
Effective Tax Rate (%)
18.23
17.27
12.66
10.88
10.83
10.57
11.19
5.74
9.49
13.41
16.06
16.3
15.96
15.86
Profit Margin (%)
25.76
27.6
26.22
27.02
30.27
34.75
32.43
22.97
32.3
34.15
30.09
28.23
29.02
29.52
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
224
237
236
236
235
235
235
235
222
222
223
223
223
223
Total Equity
2,514
2,851
2,890
3,003
3,298
3,369
3,912
4,293
4,440
3,137
3,716
3,899
4,573
3,974
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
8.84
9.54
8.99
9.56
10.76
12.75
11.45
7.63
9.64
14.44
16.39
14.45
14.55
15.53
Return on Common Equity (%)
9.66
10.63
9.95
10.57
11.85
14.01
12.46
8.32
10.33
15.71
18.02
15.73
15.69
16.77

Capital Structure

USD

•

in mil. unless spec.
Mar'26
Jun'26
Sep'26
ST Debt
- -
- -
- -
LT Borrowings
223
223
223
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
145
145
145
Shares Outstanding
63
62
62
Market Capitalization
8,608
9,603
9,474

Working Capital

USD

•

in mil. unless spec.
Mar'26
Jun'26
Sep'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
8,904
8,021
7,640
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.65%
2.95%
17.3%
Free Cash Flow
14.88%
15.56%
-85.22%
Net Income, GAAP
10.22%
15.3%
11.33%
Sales/Revenue/Turnover
7.94%
9.63%
8.31%
Total Cash Common Dividend
6.88%
7.22%
5.32%

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
501
508
518
536
2,064
2025
540
547
567
581
2,235
2026
575
576
604
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.09
2.24
2.26
2.39
8.98
2025
2.32
2.42
2.7
2.59
10.02
2026
2.68
2.73
2.87
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.96
0.96
0.98
0.99
3.89
2025
0.99
1.04
1.04
1.03
4.09
2026
1.04
1.06
1.07
- -
- -

Company Description

CEO
Phillip D. Green
Full Time Employees
6,008
Sector
Finance
Industry
Regional banks
Address
111 West Houston Street San Antonio TX United States 78205
IPO Date
Aug 14, 1997
Business
Cullen/Frost Bankers, Inc. (NYSE: CFR) operates as a financial holding company and bank holding company for its primary subsidiary, Frost Bank, which provides a broad array of commercial and consumer banking services throughout Texas markets with a concentration on major metropolitan areas including San Antonio, its headquarters location. Frost Bank offers commercial banking products such as financing for industrial and commercial properties, interim construction financing, equipment loans, inventory and accounts receivable financing, acquisitions funding, and treasury management services; consumer banking services including checking accounts, savings programs, automated-teller machines, overdraft facilities, installment and real estate loans, first mortgage loans, home equity loans and lines of credit, drive-in and night deposit services, safe deposit facilities, and brokerage services; international banking services comprising deposits, loans, letters of credit, foreign collections, funds transmission, and foreign exchange; trust, investment, agency, and custodial services for individuals and corporations; capital markets services including sales and trading, new issue underwriting, money market trading, advisory services, and securities safekeeping and clearance; insurance and securities brokerage; and investment management for mutual funds, institutions, and individuals. The company, founded in 1868 and headquartered at 111 West Houston Street in San Antonio, Texas, serves industries such as energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation, primarily targeting small and medium-sized businesses alongside individual consumers through over 150 branches. In recent developments, Cullen/Frost has pursued aggressive organic expansion in Texas, with total loans increasing 6.3% year-over-year in Q2 2025 and average loans rising 9.3% to $20.3 billion in Q4 2024, driven by new market entries representing 37% of loan growth and 44% of deposit growth; noninterest expenses rose 9.5% amid investments in branches and technology expected to yield accretion starting in 2026; full-year 2024 average loans grew 10.7% to $19.8 billion while deposits dipped 1.1%; and the company maintains a mergers and acquisitions page on its investor site amid openness to opportunities created by competitor consolidations. With $52.5 billion in assets as of September 30, 2025, Cullen/Frost continues to emphasize customer satisfaction, earning top rankings in J.D. Power studies and national recognition for service in small business and middle market banking segments.

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