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Cullen/Frost Bankers (CFR) | Financial Analysis & Statements

Cullen/Frost Bankers Inc. | Mid-cap | Financial Services

$130.57

-0.31%

| Cullen/Frost Bankers Stock Comparison:

Cullen/Frost Bankers vs U.S. Bancorp Cullen/Frost Bankers vs Deutsche Bank AG Cullen/Frost Bankers vs SouthState Cullen/Frost Bankers vs Western Alliance Cullen/Frost Bankers vs Wintrust Financial Cullen/Frost Bankers vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jun 2025

Income Metrics

Revenue 546.9M

Net Income 157.0M 28.71%

Balance Sheet Metrics

Total Assets 52.0B

Total Liabilities 47.9B

Shareholders Equity 4.1B

Debt to Equity 11.64

Cash Flow Metrics

Operating Cash Flow -309.8M

Free Cash Flow -337.1M

Revenue & Profitability Trend

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This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Cullen/Frost Bankers Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	2.1B	2.0B	1.7B	1.4B	1.4B
Cost of Goods Sold i	-	-	-	-	-
Gross Profit i	-	-	-	-	-
Gross Margin % i	0.0%	0.0%	0.0%	0.0%	0.0%
Operating Expenses
Research & Development i	-	-	-	-	-
Selling, General & Administrative i	832.5M	788.2M	636.3M	524.3M	507.9M
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	832.5M	788.2M	636.3M	524.3M	507.9M
Operating Income i	-	-	-	-	-
Operating Margin % i	0.0%	0.0%	0.0%	0.0%	0.0%
Non-Operating Items
Interest Income i	-	-	-	-	-
Interest Expense i	-	-	-	-	-
Other Non-Operating Income	-	-	-	-	-
Pre-tax Income i	696.0M	712.4M	668.8M	489.5M	351.3M
Income Tax i	113.4M	114.4M	89.7M	46.5M	20.2M
Effective Tax Rate % i	16.3%	16.1%	13.4%	9.5%	5.7%
Net Income i	582.5M	598.0M	579.2M	443.1M	331.2M
Net Margin % i	28.2%	30.1%	34.1%	32.3%	23.0%
Key Metrics
EBITDA i	-	-	-	-	-
EPS (Basic) i	$8.88	$9.11	$8.84	$6.79	$5.11
EPS (Diluted) i	$8.87	$9.10	$8.81	$6.76	$5.10
Basic Shares Outstanding i	64121000	64204000	64157000	63613000	62727000
Diluted Shares Outstanding i	64121000	64204000	64157000	63613000	62727000

Income Statement Trend

Cullen/Frost Bankers Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	10.2B	8.6B	11.8B	16.5B	10.3B
Short-term Investments i	15.0B	16.6B	18.2B	13.9B	10.4B
Accounts Receivable i	-	-	1.1B	612.5M	584.6M
Inventory i	-	-	-	-	-
Other Current Assets	-	-	-	-	-
Total Current Assets i	-	-	-	-	-
Non-Current Assets
Property, Plant & Equipment i	270.3M	280.5M	288.8M	281.4M	292.1M
Goodwill i	-	-	1.3B	1.3B	1.3B
Intangible Assets i	-	-	386.0K	866.0K	1.6M
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	-	-	-	-	-
Total Non-Current Assets i	-	-	-	-	-
Total Assets i	52.5B	-	-	-	-
Liabilities
Current Liabilities
Accounts Payable i	-	-	866.3M	754.3M	730.2M
Short-term Debt i	-	-	-	-	-
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities i	-	-	-	-	-
Non-Current Liabilities
Long-term Debt i	222.8M	222.6M	222.4M	222.2M	235.4M
Deferred Tax Liabilities i	-	-	-	-	-
Other Non-Current Liabilities	-	-	-	-	-
Total Non-Current Liabilities i	-	-	-	-	-
Total Liabilities i	48.6B	-	-	-	-
Equity
Common Stock i	644.0K	644.0K	643.0K	642.0K	642.0K
Retained Earnings i	4.0B	3.7B	3.3B	3.0B	2.8B
Treasury Stock i	22.6M	23.9M	0	20.7M	113.9M
Other Equity	-	-	-	-	-
Total Shareholders Equity i	3.9B	3.7B	3.1B	4.4B	4.3B
Key Metrics
Total Debt i	222.8M	222.6M	222.4M	222.2M	235.4M
Working Capital i	0	0	0	0	0

Balance Sheet Composition

Cullen/Frost Bankers Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	582.5M	598.0M	579.2M	443.1M	331.2M
Depreciation & Amortization i	82.8M	76.4M	71.3M	69.3M	64.4M
Stock-Based Compensation i	19.8M	24.6M	18.3M	12.8M	13.9M
Working Capital Changes i	229.8M	-296.3M	-31.4M	15.2M	-107.3M
Operating Cash Flow i	899.5M	384.9M	630.4M	545.6M	282.5M
Investing Activities
Capital Expenditures i	-127.8M	-157.3M	-102.4M	-58.8M	-89.4M
Acquisitions i	-	-	-	-	-
Investment Purchases i	-17.9B	-20.3B	-23.6B	-24.2B	-20.8B
Investment Sales i	19.8B	21.2B	16.2B	20.6B	22.1B
Investing Cash Flow i	1.8B	743.3M	-7.5B	-3.7B	1.2B
Financing Activities
Share Repurchases i	-60.9M	-42.7M	-4.4M	-3.9M	-165.8M
Dividends Paid i	-249.1M	-239.0M	-216.5M	-195.9M	-182.6M
Debt Issuance i	-	-	0	0	1.2B
Debt Repayment i	-	0	0	-13.4M	-1.2B
Financing Cash Flow i	-86.5M	-852.6M	1.7B	436.5M	218.7M
Free Cash Flow i	861.8M	320.2M	620.1M	582.4M	428.8M
Net Change in Cash i	2.6B	275.6M	-5.1B	-2.7B	1.7B

Cash Flow Trend

Cullen/Frost Bankers Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 14.10

Forward P/E 15.21

Price to Book 2.08

Price to Sales 4.05

PEG Ratio 15.21

Profitability Ratios

Profit Margin 29.30%

Operating Margin 36.20%

Return on Equity 15.49%

Return on Assets 1.22%

Financial Health

Debt to Equity 1.22

Beta 0.68

Per Share Data

EPS (TTM) $9.29

Book Value per Share $63.04

Revenue per Share $32.42

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
cfr	8.4B	14.10	2.08	15.49%	29.30%	1.22
U.S. Bancorp	75.1B	11.55	1.38	11.67%	27.00%	1.34
Deutsche Bank AG	71.6B	13.04	0.91	8.14%	20.55%	6.12
SouthState	9.8B	14.33	1.11	8.19%	28.66%	0.32
Western Alliance	9.6B	11.45	1.39	12.42%	27.12%	0.93
Wintrust Financial	9.0B	12.68	1.40	11.60%	29.83%	0.62

Financial data is updated regularly. All figures are in the company's reporting currency.