Revenue
$2.24B
Fiscal year ended 2025-12-31Net income
$648.56M
Fiscal year ended 2025-12-31Total assets
$53.04B
Fiscal year ended 2025-12-31CULLEN/FROST BANKERS, INC. (CFR) reported revenue of $2.24B and net income of $648.56M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from CULLEN/FROST BANKERS, INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under National Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.24B | $2.06B | $1.99B | $1.70B | $1.37B | $1.44B | $1.37B | $1.31B | $1.20B | $1.13B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $648.56M | $582.54M | $597.97M | $579.15M | $443.08M | $331.15M | $443.60M | $454.92M | $364.15M | $304.26M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 64.10M | shares 64.26M | shares 64.40M | shares 64.52M | shares 64.10M | shares 63.00M | shares 63.44M | shares 64.69M | shares 64.66M | shares 62.97M |
| Pretax income | $771.70M | $695.97M | $712.37M | $668.83M | $489.54M | $351.32M | $499.47M | $508.68M | $408.36M | $341.41M |
| Income tax expense | $123.14M | $113.42M | $114.40M | $89.68M | $46.46M | $20.17M | $55.87M | $53.76M | $44.21M | $37.15M |
| Diluted EPS | $9.92 | $8.87 | $9.10 | $8.81 | $6.76 | $5.10 | $6.84 | $6.90 | $5.51 | $4.70 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total assets | $53.04B | $52.52B | $50.85B | $52.89B | $50.88B | $42.39B | $34.03B | $32.29B | $31.75B | $30.20B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $48.47B | $48.62B | $47.13B | $49.76B | $46.44B | $38.10B | $30.12B | $28.92B | $28.45B | $27.19B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $4.57B | $3.90B | $3.72B | $3.14B | $4.44B | $4.29B | $3.91B | $3.37B | $3.30B | $3.00B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | Unavailable | Unavailable | $654.95M | $654.95M | $654.95M | $654.95M | $654.95M | $654.95M | $654.95M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $273.98M | $989.53M | $478.84M | $722.58M | $648.29M | $524.24M | $634.09M | $562.39M | $538.08M | Unavailable |
| Capital expenditures | $146.65M | $127.78M | $158.63M | $102.50M | $65.85M | $95.42M | $206.72M | $79.27M | $34.09M | $53.65M |
| Investing cash flow | -$1.60B | -$180.88M | -$942.75M | -$8.28B | -$2.53B | -$1.63B | -$1.39B | -$1.91B | -$670.60M | Unavailable |
| Financing cash flow | -$33.09M | $738.33M | -$2.88B | $3.00B | $8.17B | $7.61B | $585.06M | $253.66M | $1.04B | Unavailable |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $6.50B | -$167.60M | -$1.10B | $911.60M | $549.92M |
| Stock-based compensation | $24.76M | $19.76M | $24.59M | $18.32M | $12.75M | $13.92M | $15.95M | $13.94M | $13.01M | $11.80M |
| Common dividends paid | $255.36M | $242.45M | $232.32M | $209.78M | $188.79M | $180.58M | $177.01M | $165.45M | $144.17M | $134.90M |
| Common share repurchases | $157.83M | $60.90M | $42.72M | $4.39M | $3.86M | $15.78M | $68.79M | $101.01M | $101.47M | $1.29M |
| Depreciation & amortization | $87.78M | $82.82M | $76.44M | $71.34M | $69.29M | $64.37M | $54.09M | $50.17M | $47.81M | $48.18M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $127.33M | $861.76M | $320.22M | $620.08M | $582.44M | $428.82M | $427.37M | $483.12M | $503.99M | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 5.7% | 41.8% | 16.1% | 36.6% | 42.5% | 29.7% | 31.2% | 36.9% | 41.9% | Unavailable |
| SBC / revenue | 1.1% | 1.0% | 1.2% | 1.1% | 0.9% | 1.0% | 1.2% | 1.1% | 1.1% | 1.0% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 8.3% | 3.8% | 17.2% | 23.7% | -4.8% | 5.4% | 4.5% | 8.8% | 6.8% | Unavailable |
| Net margin | 29.0% | 28.2% | 30.1% | 34.1% | 32.3% | 23.0% | 32.4% | 34.7% | 30.3% | 27.0% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 6.6% | 6.2% | 8.0% | 6.0% | 4.8% | 6.6% | 15.1% | 6.1% | 2.8% | 4.8% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 16.0% | 16.3% | 16.1% | 13.4% | 9.5% | 5.7% | 11.2% | 10.6% | 10.8% | 10.9% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open CFR in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-30View SEC filing
10-Q · Filed 2026-04-30View SEC filing
10-K · Filed 2026-02-05View SEC filing
10-Q · Filed 2025-10-30View SEC filing
10-Q · Filed 2025-07-31View SEC filing
10-Q · Filed 2025-05-01View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.