What is Cullen Frost Bankers Inc's earnings per share (EPS)?

Cullen Frost Bankers Inc (CFR) reported diluted earnings per share of $9.92 for fiscal year 2025. This represents a 11.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Cullen Frost Bankers Inc Financials

CFR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Cullen Frost Bankers Inc (CFR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 32/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Cullen Frost Bankers Inc's revenue grew 8.3% year-over-year to $2.2B, a solid pace of expansion. This earns a growth score of 47/100.

Leverage

Cullen Frost Bankers Inc has elevated debt relative to equity (D/E of 10.60), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

Cullen Frost Bankers Inc has a free cash flow margin of 5.7%, earning a moderate score of 39/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Cullen Frost Bankers Inc's ROE of 14.2% shows moderate profitability relative to equity, earning a score of 43/100. This is down from 14.9% the prior year.

Piotroski F-Score Neutral

5/9

Cullen Frost Bankers Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.42x

For every $1 of reported earnings, Cullen Frost Bankers Inc generates $0.42 in operating cash flow ($274.0M OCF vs $648.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$2.2B

YoY+8.3%

5Y CAGR+9.2%

10Y CAGR+7.7%

Cullen Frost Bankers Inc generated $2.2B in revenue in fiscal year 2025. This represents an increase of 8.3% from the prior year.

EBITDA

N/A

Net Income

$648.6M

YoY+11.3%

5Y CAGR+14.4%

10Y CAGR+8.8%

Cullen Frost Bankers Inc reported $648.6M in net income in fiscal year 2025. This represents an increase of 11.3% from the prior year.

EPS (Diluted)

$9.92

YoY+11.8%

5Y CAGR+14.2%

10Y CAGR+8.8%

Cullen Frost Bankers Inc earned $9.92 per diluted share (EPS) in fiscal year 2025. This represents an increase of 11.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$127.3M

YoY-85.2%

5Y CAGR-21.6%

10Y CAGR-6.4%

Cullen Frost Bankers Inc generated $127.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 85.2% from the prior year.

Cash & Debt

$8.9B

YoY-13.3%

5Y CAGR-2.9%

Cullen Frost Bankers Inc held $8.9B in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$3.95

YoY+5.6%

5Y CAGR+6.7%

10Y CAGR+6.5%

Cullen Frost Bankers Inc paid $3.95 per share in dividends in fiscal year 2025. This represents an increase of 5.6% from the prior year.

Shares Outstanding

63M

YoY-1.6%

5Y CAGR+0.0%

10Y CAGR+0.2%

Cullen Frost Bankers Inc had 63M shares outstanding in fiscal year 2025. This represents a decrease of 1.6% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

29.0%

YoY+0.8pp

5Y CAGR+6.1pp

10Y CAGR+2.8pp

Cullen Frost Bankers Inc's net profit margin was 29.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.8 percentage points from the prior year.

Return on Equity

14.2%

YoY-0.8pp

5Y CAGR+6.5pp

10Y CAGR+4.5pp

Cullen Frost Bankers Inc's ROE was 14.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$157.8M

YoY+159.2%

5Y CAGR+58.5%

10Y CAGR+4.5%

Cullen Frost Bankers Inc spent $157.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 159.2% from the prior year.

Capital Expenditures

$146.7M

YoY+14.8%

5Y CAGR+9.0%

10Y CAGR-0.0%

Cullen Frost Bankers Inc invested $146.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 14.8% from the prior year.

CFR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.2B+8.3%	$2.1B+3.8%	$2.0B+17.2%	$1.7B+23.7%	$1.4B-4.8%	$1.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$684.6M-12.9%	$786.0M+19.3%	$659.1M+257.3%	$184.4M+671.6%	$23.9M-46.9%	$45.0M
Income Tax	$123.1M+8.6%	$113.4M-0.9%	$114.4M+27.6%	$89.7M+93.0%	$46.5M+130.3%	$20.2M
Net Income	$648.6M+11.3%	$582.5M-2.6%	$598.0M+3.3%	$579.1M+30.7%	$443.1M+33.8%	$331.2M
EPS (Diluted)	$9.92+11.8%	$8.87-2.5%	$9.10+3.3%	$8.81+30.3%	$6.76+32.5%	$5.10

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$580.9M+2.4%	$567.3M+3.7%	$546.9M+1.2%	$540.2M+0.7%	$536.3M+3.5%	$518.0M+2.0%	$507.9M+1.3%	$501.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$164.9M-7.6%	$178.5M+3.6%	$172.4M+2.0%	$168.9M-9.8%	$187.2M-8.2%	$203.8M+2.1%	$199.6M+2.1%	$195.4M
Income Tax	$31.7M-5.7%	$33.6M+13.5%	$29.6M+5.1%	$28.2M-3.4%	$29.2M+1.5%	$28.7M-3.1%	$29.7M+14.6%	$25.9M
Net Income	$166.3M-4.7%	$174.4M+11.1%	$157.0M+4.0%	$150.9M-2.5%	$154.9M+5.7%	$146.5M+0.7%	$145.5M+7.2%	$135.7M
EPS (Diluted)	N/A	$2.67+11.7%	$2.39+3.9%	$2.30	N/A	$2.24+1.4%	$2.21+7.3%	$2.06

CFR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$53.0B+1.0%	$52.5B+3.3%	$50.8B-3.9%	$52.9B+4.0%	$50.9B+20.0%	$42.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$8.9B-13.3%	$10.2B+17.8%	$8.7B-27.8%	$12.0B-27.5%	$16.6B+61.2%	$10.3B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	$655.0M0.0%	$655.0M0.0%	$655.0M
Total Liabilities	$48.5B-0.3%	$48.6B+3.2%	$47.1B-5.3%	$49.8B+7.1%	$46.4B+21.9%	$38.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$4.6B+17.3%	$3.9B+4.9%	$3.7B+18.5%	$3.1B-29.3%	$4.4B+3.4%	$4.3B
Retained Earnings	$4.3B+9.1%	$4.0B+8.0%	$3.7B+10.5%	$3.3B+11.9%	$3.0B+7.5%	$2.8B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$53.0B+1.0%	$52.5B+2.2%	$51.4B-1.1%	$52.0B-1.0%	$52.5B+3.0%	$51.0B+4.4%	$48.8B-1.3%	$49.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$8.9B+11.8%	$7.9B+11.6%	$7.1B-9.4%	$7.9B-23.3%	$10.2B+11.3%	$9.2B+28.7%	$7.1B-15.6%	$8.5B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$48.5B+0.8%	$48.1B+1.8%	$47.2B-1.4%	$47.9B-1.5%	$48.6B+3.7%	$46.9B+3.8%	$45.2B-1.5%	$45.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$4.6B+2.5%	$4.5B+6.2%	$4.2B+2.1%	$4.1B+5.5%	$3.9B-5.7%	$4.1B+12.8%	$3.7B+0.8%	$3.6B
Retained Earnings	$4.3B+2.0%	$4.2B+2.6%	$4.1B+2.2%	$4.0B+2.0%	$4.0B+1.6%	$3.9B+2.1%	$3.8B+2.2%	$3.7B

CFR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$274.0M-72.3%	$989.5M+106.6%	$478.8M-33.7%	$722.6M+11.5%	$648.3M+23.7%	$524.2M
Capital Expenditures	$146.7M+14.8%	$127.8M-19.5%	$158.6M+54.8%	$102.5M+55.7%	$65.8M-31.0%	$95.4M
Free Cash Flow	$127.3M-85.2%	$861.8M+169.1%	$320.2M-48.4%	$620.1M+6.5%	$582.4M+35.8%	$428.8M
Investing Cash Flow	-$1.6B-785.2%	-$180.9M+80.8%	-$942.8M+88.6%	-$8.3B-227.8%	-$2.5B-54.8%	-$1.6B
Financing Cash Flow	-$33.1M-104.5%	$738.3M+125.7%	-$2.9B-195.9%	$3.0B-63.3%	$8.2B+7.4%	$7.6B
Dividends Paid	$255.4M+5.3%	$242.4M+4.4%	$232.3M+10.7%	$209.8M+11.1%	$188.8M+4.5%	$180.6M
Share Buybacks	$157.8M+159.2%	$60.9M+42.6%	$42.7M+872.9%	$4.4M+13.6%	$3.9M-75.5%	$15.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$180.7M-27.3%	$248.6M+76.6%	$140.8M+147.5%	-$296.1M-560.5%	$64.3M-79.1%	$307.2M+137.1%	$129.6M-73.5%	$488.4M
Capital Expenditures	$42.5M+15.2%	$36.9M+40.6%	$26.3M-35.9%	$41.0M+8.8%	$37.6M+48.6%	$25.3M-4.8%	$26.6M-30.3%	$38.2M
Free Cash Flow	$138.2M-34.7%	$211.7M+84.8%	$114.5M+134.0%	-$337.1M-1364.5%	$26.7M-90.5%	$281.9M+173.8%	$103.0M-77.1%	$450.3M
Investing Cash Flow	$550.3M+300.0%	-$275.2M-378.0%	-$57.6M+96.8%	-$1.8B-517.7%	-$294.4M-264.4%	$179.1M+126.1%	-$686.1M-210.6%	$620.5M
Financing Cash Flow	$202.8M-76.2%	$850.8M+203.7%	-$820.5M-208.4%	-$266.1M-121.0%	$1.3B-19.2%	$1.6B+305.3%	-$763.2M+42.7%	-$1.3B
Dividends Paid	$64.1M-1.0%	$64.7M-0.3%	$64.9M+5.3%	$61.7M+0.3%	$61.5M+0.3%	$61.3M+2.5%	$59.8M0.0%	$59.8M
Share Buybacks	$85.4M+22.3%	$69.8M+91722.4%	$76K-97.1%	$2.6M-69.9%	$8.6M-57.0%	$20.0M-33.5%	$30.2M+1354.6%	$2.1M

CFR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	29.0%+0.8pp	28.2%-1.9pp	30.1%-4.1pp	34.2%+1.9pp	32.3%+9.3pp	23.0%
Return on Equity	14.2%-0.8pp	14.9%-1.1pp	16.1%-2.4pp	18.5%+8.5pp	10.0%+2.3pp	7.7%
Return on Assets	1.2%+0.1pp	1.1%-0.1pp	1.2%+0.1pp	1.1%+0.2pp	0.9%+0.1pp	0.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	10.60-1.9	12.47-0.2	12.68-3.2	15.86+5.4	10.46+1.6	8.87
FCF Margin	5.7%-36.1pp	41.8%+25.7pp	16.1%-20.4pp	36.6%-5.9pp	42.5%+12.7pp	29.8%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	28.6%-2.1pp	30.7%+2.0pp	28.7%+0.8pp	27.9%-0.9pp	28.9%+0.6pp	28.3%-0.4pp	28.6%+1.6pp	27.1%
Return on Equity	3.6%-0.3pp	3.9%+0.2pp	3.7%+0.1pp	3.7%-0.3pp	4.0%+0.4pp	3.5%-0.4pp	4.0%+0.2pp	3.7%
Return on Assets	0.3%-0.0pp	0.3%+0.0pp	0.3%+0.0pp	0.3%0.0pp	0.3%0.0pp	0.3%-0.0pp	0.3%+0.0pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	10.60-0.2	10.78-0.5	11.24-0.4	11.64-0.8	12.47+1.1	11.34-1.0	12.32-0.3	12.61
FCF Margin	23.8%-13.5pp	37.3%+16.4pp	20.9%+83.3pp	-62.4%-67.4pp	5.0%-49.4pp	54.4%+34.1pp	20.3%-69.5pp	89.8%

Similar Companies

Wintrust Fincl WTFC

$9.4B

Old Natl Bancorp Ind ONB

$8.7B

Commerce Bancs CBSH

$7.2B

Zions Bancorporation N A ZION

$8.6B

Popular Inc BPOP

$8.9B

Frequently Asked Questions

What is Cullen Frost Bankers Inc's annual revenue?

Cullen Frost Bankers Inc (CFR) reported $2.2B in total revenue for fiscal year 2025. This represents a 8.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Cullen Frost Bankers Inc's revenue growing?

Cullen Frost Bankers Inc (CFR) revenue grew by 8.3% year-over-year, from $2.1B to $2.2B in fiscal year 2025.

Is Cullen Frost Bankers Inc profitable?

Yes, Cullen Frost Bankers Inc (CFR) reported a net income of $648.6M in fiscal year 2025, with a net profit margin of 29.0%.

What is Cullen Frost Bankers Inc's net profit margin?

Cullen Frost Bankers Inc (CFR) had a net profit margin of 29.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Cullen Frost Bankers Inc pay dividends?

Yes, Cullen Frost Bankers Inc (CFR) paid $3.95 per share in dividends during fiscal year 2025.

What is Cullen Frost Bankers Inc's return on equity (ROE)?

Cullen Frost Bankers Inc (CFR) has a return on equity of 14.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Cullen Frost Bankers Inc's free cash flow?

Cullen Frost Bankers Inc (CFR) generated $127.3M in free cash flow during fiscal year 2025. This represents a -85.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Cullen Frost Bankers Inc's operating cash flow?

Cullen Frost Bankers Inc (CFR) generated $274.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Cullen Frost Bankers Inc's total assets?

Cullen Frost Bankers Inc (CFR) had $53.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Cullen Frost Bankers Inc's capital expenditures?

Cullen Frost Bankers Inc (CFR) invested $146.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Cullen Frost Bankers Inc buy back shares?

Yes, Cullen Frost Bankers Inc (CFR) spent $157.8M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Cullen Frost Bankers Inc have outstanding?

Cullen Frost Bankers Inc (CFR) had 63M shares outstanding as of fiscal year 2025.

What is Cullen Frost Bankers Inc's debt-to-equity ratio?

Cullen Frost Bankers Inc (CFR) had a debt-to-equity ratio of 10.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cullen Frost Bankers Inc's return on assets (ROA)?

Cullen Frost Bankers Inc (CFR) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Cullen Frost Bankers Inc's Piotroski F-Score?

Cullen Frost Bankers Inc (CFR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cullen Frost Bankers Inc's earnings high quality?

Cullen Frost Bankers Inc (CFR) has an earnings quality ratio of 0.42x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Cullen Frost Bankers Inc?

Cullen Frost Bankers Inc (CFR) scores 32 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.