# Cullen/Frost Bankers Inc. (CFR)

**Exchange:** NYSE  
**Sector:** Financial Services  
**Market cap:** $9.49B  
**Price:** $148.00 (+1.29%)

> Cullen/Frost Bankers Inc. is a financial services holding company based in Texas, United States. Primarily offering commercial and consumer banking, trust and investment management services, Cullen/Frost Bankers Inc. operates through its main subsidiary, Frost Bank. It serves a diverse clientele, ranging from small businesses to large corporations, as well as individual retail customers, showcasing its strong community orientation. With a history tracing back to 1868, the company has built a solid reputation for stability and customer service. Cullen/Frost Bankers Inc. significantly impacts the financial sector in Texas, reflecting regional economic trends and contributing to local development. As one of the largest banks in the region, it plays a key role in supporting financial infrastructure, providing both traditional banking services and advanced digital banking solutions. The company's deep-rooted presence and extensive network across Texas enable it to effectively respond to customer needs, while its prudent risk management and conservative lending practices ensure long-term sustainability in the ever-evolving financial market.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $2.24B | — | — | $649M | $9.92 |
| 2024 | $2.06B | — | — | $583M | $8.87 |
| 2023 | $1.99B | — | — | $598M | $9.10 |
| 2022 | $1.70B | — | — | $579M | $8.81 |
| 2021 | $1.37B | — | — | $443M | $6.76 |
| 2020 | $1.44B | — | — | $331M | $5.10 |
| 2019 | $1.37B | — | — | $444M | $6.84 |
| 2018 | $1.31B | — | — | $455M | $6.90 |
| 2017 | $1.20B | — | — | $364M | $5.51 |
| 2016 | $1.13B | — | — | $304M | $4.70 |
| 2015 | $1.07B | — | — | $279M | $4.28 |
| 2014 | $1.01B | — | — | $278M | $4.29 |
| 2013 | $923M | — | — | $238M | $3.80 |
| 2012 | $894M | — | — | $238M | $3.86 |
| 2011 | $872M | — | — | $218M | $3.54 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $53.04B | $48.47B | $4.57B | $8.87B | — |
| 2024 | $52.52B | $48.62B | $3.90B | $10.23B | — |
| 2023 | $50.85B | $47.13B | $3.72B | $8.69B | — |
| 2022 | $52.89B | $49.76B | $3.14B | $12.03B | — |
| 2021 | $50.88B | $46.44B | $4.44B | $16.58B | — |
| 2020 | $42.39B | $38.10B | $4.29B | $10.29B | — |
| 2019 | $34.03B | $30.12B | $3.91B | $3.79B | — |
| 2018 | $32.29B | $28.92B | $3.37B | — | — |
| 2017 | $31.75B | $28.45B | $3.30B | — | — |
| 2016 | $30.20B | $27.19B | $3.00B | — | — |
| 2015 | $28.57B | $25.68B | $2.89B | — | — |
| 2014 | $28.28B | $25.43B | $2.85B | — | — |
| 2013 | $24.31B | $21.80B | $2.51B | $4.56B | — |
| 2012 | $23.12B | $20.71B | $2.42B | $3.52B | — |
| 2011 | $20.32B | $18.03B | $2.28B | $2.91B | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $274M | $147M | $127M |
| 2024 | $990M | $128M | $862M |
| 2023 | $479M | $159M | $320M |
| 2022 | $723M | $103M | $620M |
| 2021 | $648M | $66M | $582M |
| 2020 | $524M | $95M | $429M |
| 2019 | $634M | $207M | $427M |
| 2018 | $562M | $79M | $483M |
| 2017 | $538M | $34M | $504M |
| 2016 | — | $54M | $384M |
| 2015 | — | $147M | $246M |
| 2014 | — | $132M | $155M |
| 2013 | — | $40M | $134M |
| 2012 | — | $25M | $275M |
| 2011 | $274M | $27M | $248M |

Source: [DividendWall](https://dividendwall.com/company/CFR)