Cullen/Frost Bankers, Inc.
CFR- Exchange
- NYSE
- Industry
- National Commercial Banks
- SEC CIK
- 0000039263
In the last 90 days, Cullen/Frost Bankers, Inc. insiders filed 0 open-market purchases and 3 sales; 574 institutions reported holding it in 13F filings for Q2 2026, worth $8.83B in total; no superinvestor holds it.
Other share classesCFR.PB
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 30, 2026, 1:12 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Jan 30, 2025 | Jan 25, 2024 | Jan 26, 2023 | Jan 27, 2022 |
| Revenue | $2.24B | $2.06B | $1.99B | $1.70B | $1.37B |
| Interest expense | – | – | $659.1M | $184.4M | $23.9M |
| Income tax | $123.1M | $113.4M | $114.4M | $89.7M | $46.5M |
| Net income | $648.6M | $582.5M | $598.0M | $579.1M | $443.1M |
| EPS, basic | $9.92 | $8.88 | $9.11 | $8.84 | $6.79 |
| EPS, diluted | $9.92 | $8.87 | $9.10 | $8.81 | $6.76 |
| Weighted shares, basic | 64.1M | 64.1M | 64.2M | 64.2M | 63.6M |
| Weighted shares, diluted | 64.1M | 64.3M | 64.4M | 64.5M | 64.1M |
| Margins and growth | |||||
| Net margin | 29.0% | 28.2% | 30.1% | 34.1% | 32.3% |
| Revenue growth, year over year | +8.3% | +3.8% | +17.2% | +23.7% | −4.8% |
| Net income growth, year over year | +11.3% | −2.6% | +3.3% | +30.7% | +33.8% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Jan 30, 2025 | Jan 25, 2024 | Jan 26, 2023 | Jan 27, 2022 |
| Property, plant and equipment | $1.31B | $1.25B | $1.19B | $1.10B | $1.05B |
| Goodwill | – | – | – | $655.0M | $655.0M |
| Intangible assets | – | – | – | $386.0K | $866.0K |
| Total assets | $53.0B | $52.5B | $50.8B | $52.9B | $50.9B |
| Total liabilities | $48.5B | $48.6B | $47.1B | $49.8B | $46.4B |
| Shareholders' equity | $4.57B | $3.90B | $3.72B | $3.14B | $4.44B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 29, 2026 | Jan 30, 2025 | Jan 25, 2024 | Jan 26, 2023 | Jan 27, 2022 |
| Operating cash flow | $274.0M | $989.5M | $478.8M | $722.6M | $648.3M |
| Capital expenditures | $146.7M | $127.8M | $158.6M | $102.5M | $65.8M |
| Free cash flow | $127.3M | $861.8M | $320.2M | $620.1M | $582.4M |
| Depreciation and amortization | $87.8M | $82.8M | $76.4M | $71.3M | $69.3M |
| Stock-based compensation | $24.8M | $19.8M | $24.6M | $18.3M | $12.8M |
| Dividends paid | $255.4M | $242.4M | $232.3M | $209.8M | $188.8M |
| Share buybacks | $157.8M | $60.9M | $42.7M | $4.39M | $3.86M |
| Investing cash flow | -$1.60B | -$180.9M | -$942.8M | -$8.28B | -$2.53B |
| Financing cash flow | -$33.1M | $738.3M | -$2.88B | $3.00B | $8.17B |
| Ratio | |||||
| Stock-based compensation, % of revenue | 1.1% | 1.0% | 1.2% | 1.1% | 0.9% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 27, 2026 | 62.2M | −2.8% | SEC |
| Jul 30, 2026 | 62.1M | −3.4% | SEC |
| Apr 27, 2026 | 62.8M | −2.3% | SEC |
| Feb 4, 2026 | 63.2M | −1.6% | SEC |
| Oct 27, 2025 | 63.9M | −0.3% | SEC |
| Jul 24, 2025 | 64.3M | +0.5% | SEC |
| Apr 24, 2025 | 64.3M | +0.1% | SEC |
| Jan 30, 2025 | 64.2M | +0.1% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.