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Friday 6 November 2026
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Cullen/Frost Bankers, Inc.
Cullen/Frost Bankers, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.9 billion, up 2.46% from fiscal 2024.
- Revenue
- +2.95%
- EPS
- +6.37%
- Free cash flow
- +21.4%
- Total debt
- +0.10%
Quarter to September 2026, against a year earlier
156.62
3.07
−1.92%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
12.77 | 15.12 | 11.96 | 14.70 | 18.57 | 17.07 | 14.21 | 12.62 | 17.06 | 18.46 |
Piotroski F-Score |
7 | 6 | 5 | 6 | 6 | 7 | 6 | 6 | 7 | 9 |
P/S ratio |
2.78 | 3.02 | 2.64 | 4.44 | 5.75 | 3.68 | 4.10 | 3.99 | 4.93 | 4.78 |
P/FCF ratio |
63.23 | 9.99 | 21.76 | 13.47 | 13.60 | 12.58 | 14.09 | 11.28 | 11.93 | 12.29 |
P/Operating CF |
44.88 | 133.87 | (84.27) | 45.74 | 83.82 | 111.34 | 125.47 | 54.81 | 33.21 | 52.94 |
P/B ratio |
1.83 | 2.29 | 1.96 | 2.79 | 1.87 | 1.32 | 1.63 | 1.74 | 1.92 | 1.91 |
Price to Tangible BV |
2.15 | 2.78 | 2.40 | 3.58 | 2.20 | 1.57 | 1.97 | 2.18 | 2.43 | 2.48 |
EV/Sales |
(0.20) | (0.50) | (0.57) | (1.85) | (6.00) | (3.10) | 1.71 | 1.32 | 1.00 | 1.34 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
(2.11) | (1.45) | (3.14) | (4.81) | (12.91) | (8.79) | 4.03 | 3.30 | 2.28 | 3.48 |
EV/FCF |
(4.50) | (1.67) | (4.67) | (5.61) | (14.19) | (10.59) | 5.87 | 3.74 | 2.41 | 3.44 |
Quick Ratio |
0.18 | 0.21 | 0.19 | 0.24 | 0.36 | 0.27 | 0.13 | 0.14 | 0.18 | 0.15 |
Current Ratio |
0.67 | 0.68 | 0.63 | 0.62 | 0.72 | 0.74 | 0.63 | 0.64 | 0.65 | 0.61 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
0.42% | 0.42% | 0.44% | 0.42% | 0.44% | 0.56% | 0.69% | 0.73% | 0.74% | 0.78% |
Debt/Equity |
0.05 | 0.06 | 0.06 | 0.07 | 0.05 | 0.05 | 0.06 | 0.07 | 0.07 | 0.08 |
Asset Turnover |
0.06 | 0.06 | 0.05 | 0.04 | 0.03 | 0.04 | 0.05 | 0.04 | 0.04 | 0.04 |
Operating CF/Net income |
0.43 | 1.74 | 0.82 | 1.27 | 1.50 | 1.62 | 1.46 | 1.26 | 1.52 | 1.48 |
Capex/Depreciation |
(1.14) | (1.00) | (1.12) | (0.61) | (0.31) | (0.48) | (1.17) | (0.44) | (0.21) | 0.05 |
| 15.54% | 15.55% | 17.83% | 15.57% | 10.24% | 8.18% | 12.46% | 14.01% | 11.78% | 10.53% | |
| 1.20% | 1.10% | 1.13% | 1.09% | 0.93% | 0.85% | 1.31% | 1.40% | 1.14% | 1.00% | |
ROIC |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 93.36% | 0.00% | 0.00% | 0.00% |
Return on Tangible Assets |
(4.35%) | (3.94%) | (3.60%) | (3.24%) | (3.64%) | (3.72%) | (4.36%) | (4.59%) | (3.84%) | (2.93%) |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
50.12% | 48.00% | 48.17% | 54.63% | 63.21% | 73.27% | 57.91% | 56.98% | 64.49% | 68.73% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
Share Based Compensation of Revenue |
0.85% | 0.69% | 0.93% | 0.97% | 0.91% | 0.94% | 1.06% | 0.99% | 1.06% | 1.04% |
Graham Net Nets |
(1.99) | (1.85) | (2.53) | (2.26) | (1.64) | (1.82) | (1.83) | (1.88) | (1.65) | (1.99) |
Graham Number |
124.21 | 108.14 | 106.77 | 96.42 | 101.55 | 87.19 | 96.41 | 89.09 | 78.84 | 69.83 |
Earnings Yield |
7.83% | 6.61% | 8.36% | 6.80% | 5.39% | 5.86% | 7.04% | 7.93% | 5.86% | 5.42% |
Free Cash Flow Yield |
1.58% | 10.01% | 4.60% | 7.42% | 7.35% | 7.95% | 7.10% | 8.87% | 8.38% | 8.13% |
Revenue per Share |
45.58 | 44.44 | 41.22 | 29.31 | 21.94 | 23.70 | 23.87 | 22.02 | 19.30 | 18.25 |
Operating CF per Share |
4.28 | 15.43 | 7.46 | 11.26 | 10.19 | 8.36 | 10.11 | 8.83 | 8.45 | 7.02 |
Capex per Share |
(2.27) | (1.99) | (2.45) | (1.60) | (0.92) | (1.43) | (3.17) | (1.03) | (0.46) | 0.08 |
Free Cash Flow per Share |
2.00 | 13.44 | 5.01 | 9.67 | 9.27 | 6.93 | 6.94 | 7.80 | 7.98 | 7.10 |
Cash per Share |
139.13 | 160.14 | 135.80 | 187.92 | 261.08 | 164.42 | 60.76 | 62.47 | 79.66 | 66.66 |
Shareholders Equity per Share |
71.39 | 60.80 | 57.89 | 48.90 | 69.79 | 68.44 | 62.35 | 52.88 | 51.78 | 48.14 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
71.39 | 60.80 | 57.89 | 48.90 | 69.79 | 68.44 | 62.35 | 52.88 | 51.78 | 48.14 |
Free Cash Flow |
128.29 | 861.78 | 321.50 | 620.14 | 589.49 | 434.81 | 435.41 | 496.75 | 508.52 | 442.97 |
Working Capital |
(15,918.92) | (15,701.36) | (17,448.76) | (18,625.75) | (12,908.34) | (9,746.92) | (11,009.30) | (10,283.92) | (9,749.97) | (10,580.52) |
Capital Expenditures |
(145.69) | (127.75) | (157.35) | (102.44) | (58.81) | (89.43) | (198.68) | (65.64) | (29.56) | 5.13 |
Net Current Asset Value |
(16,141.97) | (15,924.19) | (17,671.38) | (18,848.16) | (13,130.53) | (9,982.30) | (11,244.46) | (10,518.87) | (9,984.71) | (10,816.64) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.05 | 0.04 | 0.06 | 0.05 | 0.04 | 0.06 | 0.13 | 0.05 | 0.02 | 0.00 |
Price to Operating Income |
10.51 | 12.37 | 9.82 | 12.44 | 16.40 | 15.57 | 12.28 | 11.01 | 14.85 | 15.95 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.10 | 0.10 | 0.12 | 0.15 | 0.18 | 0.18 | 0.17 | 0.27 | 0.26 | 0.21 |
Cash ROIC |
0.94% | 5.99% | 2.54% | 4.02% | 2.77% | 2.93% | 5.47% | 6.55% | 5.91% | 5.99% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.02 | 0.02 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
22,882.07 | 19,838.81 | 23,216.69 | 86,984.69 | 651,992.74 | 283,802.29 | 77,734.93 | 106,203.87 | 369,780.30 | 780,160.90 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Payables |
42,820.31 | 42,321.66 | 42,937.39 | 43,324.95 | 38,855.73 | 31,327.66 | 27,394.38 | 27,010.80 | 26,341.98 | 25,077.59 |
Average Assets |
52,780.85 | 51,682.65 | 51,868.71 | 51,885.44 | 46,634.91 | 38,209.38 | 33,160.20 | 32,020.43 | 30,972.10 | 29,381.13 |
Average Common Equity |
4,090.36 | 3,662.07 | 3,281.39 | 3,642.94 | 4,220.83 | 3,957.37 | 3,495.81 | 3,188.90 | 3,005.71 | 2,801.95 |
Columns are period end dates · fundamentals updated 5 Nov 2026