Cullen/Frost Bankers, Inc. (CFR) — Financial statements
Income statement, balance sheet, and cash flow for Cullen/Frost Bankers, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 2,920↑2.5% | 2,850↑7.7% | 2,646↑40.7% | 1,881↑34.8% | 1,395 | |
| Cost of Revenue | 729↓14.4% | 851↑20.7% | 705↑276.2% | 187↑682.1% | 24 | |
| Gross Profit | 2,191↑9.6% | 1,999↑3.0% | 1,941↑14.6% | 1,693↑23.4% | 1,372 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 840↑7.5% | 781↑5.6% | 740↑24.0% | 596↑21.8% | 490 | |
| Selling & Marketing Expenses | 57↑10.6% | 51↑5.8% | 49↑21.5% | 40↑15.8% | 35 | |
| SG&A Expenses | 896↑7.7% | 833↑5.6% | 788↑23.9% | 636↑21.4% | 524 | |
| Other Expenses | 523↑11.2% | 470↑6.8% | 440↑13.5% | 388↑8.5% | 358 | |
| Operating Expenses | 1,419↑8.9% | 1,303↑6.0% | 1,229↑20.0% | 1,024↑16.1% | 882 | |
| Total Costs & Expenses | 2,148↓0.3% | 2,154↑11.4% | 1,934↑59.6% | 1,212↑33.7% | 906 | |
| Operating Results | ||||||
| Operating Income | 772↑10.9% | 696↓2.3% | 712↑6.5% | 669↑36.6% | 490 | |
| Depreciation & Amortization | 88↑6.0% | 83↑8.3% | 76↑7.1% | 71↑3.0% | 69 | |
| EBITDA | 859↑10.4% | 779↓1.3% | 789↑6.6% | 740↑32.5% | 559 | |
| EBIT | 772↑10.9% | 696↓2.3% | 712↑6.5% | 669↑36.6% | 490 | |
| Interest & Other Income | ||||||
| Net Interest Income | 1,736↑8.2% | 1,605↑2.9% | 1,559↑20.7% | 1,291↑31.1% | 985 | |
| Interest Income | 2,421↑1.3% | 2,391↑7.8% | 2,218↑50.3% | 1,476↑46.3% | 1,009 | |
| Interest Expense | 685↓12.9% | 786↑19.3% | 659↑257.3% | 184↑671.6% | 24 | |
| Non-Operating Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other Income / Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Income Before Tax | 772↑10.9% | 696↓2.3% | 712↑6.5% | 669↑36.6% | 490 | |
| Income Tax Expense | 123↑8.6% | 113↓0.9% | 114↑27.6% | 90↑93.0% | 46 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 649↑11.3% | 583↓2.6% | 598↑3.3% | 579↑30.7% | 443 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 649↑11.3% | 583↓2.6% | 598↑3.3% | 579↑30.7% | 443 | |
| Bottom-Line Net Income | 642↑12.7% | 570↓2.6% | 585↑3.1% | 567↑31.3% | 432 | |
| EPS (Basic) | 10.02↑12.8% | 8.88↓2.5% | 9.11↑3.1% | 8.84↑30.2% | 6.79 | |
| EPS (Diluted) | 9.92↑11.8% | 8.87↓2.3% | 9.08↑3.3% | 8.79↑30.4% | 6.74 | |
| Weighted Average Shares | 64↓0.2% | 64↓0.0% | 64↑0.1% | 64↑0.9% | 64 | |
| Weighted Average Diluted Shares | 64↓0.3% | 64↓0.2% | 64↓0.2% | 65↑0.7% | 64 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.