In fiscal 2025, which ended Dec 31, 2025, Cullen/Frost Bankers, Inc. reported revenue of $121.6 million, up 14.4% from the year before. Net income was $648.6 million, a profit margin of 533.5%. Diluted earnings per share were $9.92. Over the twelve months ended Sep 30, 2026, revenue was $135.0 million and net income was $689.5 million. Across the 10 fiscal years shown, revenue shrank from $1.1 billion in fiscal 2016 to $121.6 million in fiscal 2025, about 21.9% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2026
Sep 30, 2026
|
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Dec 31, 2017
|
FY 2016
Dec 31, 2016
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
135
+15.3%
|
122
+14.4%
|
106
+13.6%
|
94
+1.8%
|
92
+10.3%
|
83
+3.0%
|
81
-94.1%
|
1,368
+4.5%
|
1,309
+8.8%
|
1,203
+6.8%
|
1,126
+5.7%
|
| Pretax income |
819
+8.1%
|
772
+10.9%
|
696
-2.3%
|
712
+6.5%
|
669
+36.6%
|
490
+39.3%
|
351
-29.7%
|
499
-1.8%
|
509
+24.6%
|
408
+19.6%
|
341
+6.8%
|
| Income tax |
130
+7.8%
|
123
+8.6%
|
113
-0.9%
|
114
+27.6%
|
90
+93.0%
|
46
+130.3%
|
20
-63.9%
|
56
+3.9%
|
54
+21.6%
|
44
+19.0%
|
37
-8.2%
|
| Net income |
690
+8.2%
|
649
+11.3%
|
583
-2.6%
|
598
+3.3%
|
579
+30.7%
|
443
+33.8%
|
331
-25.3%
|
444
-2.5%
|
455
+24.9%
|
364
+19.7%
|
304
+8.9%
|
| Net income to common |
683
+8.3%
|
642
+11.5%
|
576
-2.6%
|
591
+3.3%
|
572
+31.3%
|
436
+34.7%
|
324
-25.7%
|
436
-2.5%
|
447
+25.5%
|
356
+20.2%
|
296
+9.2%
|
| Basic EPS |
10.87
+10.7%
|
9.92
+11.7%
|
8.88
-2.5%
|
9.11
+3.1%
|
8.84
+30.2%
|
6.79
+32.9%
|
5.11
-25.8%
|
6.89
-1.1%
|
6.97
+25.4%
|
5.56
+17.5%
|
4.73
+9.7%
|
| Diluted EPS |
10.87
+10.8%
|
9.92
+11.8%
|
8.87
-2.5%
|
9.10
+3.3%
|
8.81
+30.3%
|
6.76
+32.5%
|
5.10
-25.4%
|
6.84
-0.9%
|
6.90
+25.2%
|
5.51
+17.2%
|
4.70
+9.8%
|
| Weighted average shares, basic |
63
-2.1%
|
64
-0.1%
|
64
-0.1%
|
64
+0.1%
|
64
+0.9%
|
64
+1.4%
|
63
-0.0%
|
63
-1.5%
|
64
+0.0%
|
64
+2.1%
|
62
-0.6%
|
| Weighted average shares, diluted |
63
-2.2%
|
64
-0.3%
|
64
-0.2%
|
64
-0.2%
|
65
+0.7%
|
64
+1.7%
|
63
-0.7%
|
63
-1.9%
|
65
+0.0%
|
65
+2.7%
|
63
-0.8%
|
| Other measures | |||||||||||
| Depreciation and amortization |
89
+2.2%
|
88
+6.0%
|
83
+8.3%
|
76
+7.1%
|
71
+3.0%
|
69
+7.6%
|
64
+19.0%
|
54
+7.8%
|
50
+4.9%
|
48
-0.8%
|
48
+14.3%
|
| Margins | |||||||||||
| Pretax margin |
607.02%
|
634.77%
|
655.15%
|
761.86%
|
727.85%
|
587.74%
|
434.41%
|
36.51%
|
38.85%
|
33.95%
|
30.32%
|
| Profit margin |
510.75%
|
533.48%
|
548.38%
|
639.52%
|
630.26%
|
531.96%
|
409.47%
|
32.43%
|
34.75%
|
30.27%
|
27.02%
|
| Effective tax rate |
15.86%
|
15.96%
|
16.30%
|
16.06%
|
13.41%
|
9.49%
|
5.74%
|
11.19%
|
10.57%
|
10.83%
|
10.88%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- National Commercial Banks (SIC 6021)
- Listed as
- CFR (NYSE), CFR-PB (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- TX
- Headquarters
- San Antonio, TX
- SEC filer status
- Large accelerated filer
- SEC CIK
- 39263
- Former names
- CULLEN FROST BANKERS INC (until Nov 30, 2011)
Other National Commercial Banks companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.