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Texas-based regional bank (Frost Bank) offering conservative commercial and consumer banking across major Texas metros.
Texas-based regional bank (Frost Bank) offering conservative commercial and consumer banking across major Texas metros.
Earns mostly the difference between interest on loans and securities and the cost of deposits, and is known for a deposit base with many non-interest-bearing accounts of Texas businesses, which keeps funding costs low. Trust and wealth management bring fees. It operates only in Texas and has added branches in Dallas and Houston.
Moat: narrow (brand, distribution). Century-old, conservative-underwriting Texas brand with strong local customer loyalty.
Headquarters: San Antonio, Texas, United States · Founded: 1868 · Employees: 6,008
Size Cullen/Frost Bankers (CFR) is a United States Financials company (Regional Banks) with a market value of $9.65B, the 792nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $155.23 on 6 Nov 2026.
Performance Over six months the shares gained 11.8%, against +2.6% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 1.8% over the last twelve months (peer median +8.9%); the operating margin is 35.2% (peer median 40.8%).
Valuation It trades at 2.52× book value against a peer median of 1.25× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 14.2%; Cullen/Frost Bankers delivers 16.2%, so the price asks less than the business earns today.
Credit Cullen/Frost Bankers has 1 bond outstanding ($100M), rated BBB+ by the agencies.
Short interest Short interest is 7.1% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.94B | $2.91B | $2.84B | $2.64B | $1.88B |
| Revenue growth | — | +2% | +8% | +41% | — |
| Net income | $681M | $642M | $576M | $592M | $574M |
| Free cash flow | $588M | $131M | $865M | $322M | $621M |
| Capital expenditure | $185M | $147M | $128M | $159M | $103M |
| Total debt | $5.65B | $5.13B | $4.90B | $4.68B | $5.26B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Cullen/Frost Bankers CFR | $9.65B | +12% | +2% | 16% | 2.52× | 14.2% |
| Texas Capital Bancshares TCBI | $4.39B | +1% | +3% | 10% | 1.34× | 9.8% |
| Prosperity Bancshares, Inc.(R) PB | $8.60B | +4% | +19% | 6% | 0.88× | 7.5% |
| First Financial Bankshares FFIN | $4.36B | -6% | +8% | 16% | 2.38× | 17.0% |
| International Bancshares IBOC | $4.20B | -8% | +2% | 13% | 1.25× | 9.8% |
| BOK Financial BOKF | $7.87B | -2% | +3% | 11% | 1.33× | 10.6% |
| Hilltop HTH | $2.07B | -4% | -2% | 7% | 0.98× | 9.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CFR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.9% | +1.7% | 11th highest of 21 |
| 6-month return | +11.8% | +2.6% | 5th highest of 21 |
| Return on equity | 16.2% | 9.1% | 2nd highest of 21 |
| Price / book | 2.52× | 1.25× | 2nd most expensive of 21 |
| Trailing P/E | 14.4× | 15.0× | 9th cheapest of 19 |
| ROE the price implies | 14.2% | 8.5% | 2nd most demanding of 20 |
| ROE delivered | 16.2% | 9.3% | 2nd highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Cullen/Frost Bankers CFR | United States | $9.65B | +12% | +2% | 16% | 2.52× | 14.2% | 16.2% |
| Popular BPOP | United States | $9.83B | +5% | +4% | 17% | 1.58× | 11.1% | 16.6% |
| Shizuoka Financial 5831.T | Japan | $10.0B | +6% | +18% | 8% | 1.21× | 10.5% | 8.2% |
| SBI Shinsei Bank 8303.T | Japan | $9.20B | -11% | +27% | 10% | 1.15× | 4.7% | 9.9% |
| Chang Hwa Commercial Bank 2801.TW | Taiwan | $10.2B | +34% | +3% | 9% | 1.46× | 4.7% | 9.2% |
| Wintrust Financial WTFC | United States | $10.2B | 0% | +6% | 13% | 1.49× | 12.2% | 12.9% |
| Central Bancompany CBC | United States | $9.04B | +38% | +10% | 13% | 2.35× | 10.9% | 12.6% |
| Chiba Bank 8331.T | Japan | $10.3B | +9% | +31% | 8% | 1.28× | 6.9% | 8.3% |
| Columbia Banking System COLB | United States | $8.62B | +1% | +22% | 11% | 1.19× | 9.3% | 11.2% |
| Prosperity Bancshares, Inc.(R) PB | United States | $8.60B | +4% | +19% | 6% | 0.88× | 7.5% | 6.5% |
| First Horizon FHN | United States | $10.9B | -6% | -8% | 8% | 1.34× | 9.7% | 8.0% |
| Yokohama Financial 7186.T | Japan | $11.1B | +7% | +21% | 8% | 1.21× | 8.1% | 8.0% |
| IBK 024110.KS | South Korea | $11.4B | -14% | +28% | 8% | 0.49× | 4.2% | n/a |
| Western Alliance Bancorp WAL | United States | $8.13B | -8% | +8% | 13% | 1.11× | 12.9% | 13.2% |
| Chongqing Rural Commercial Bank 3618.HK | Hong Kong | $11.5B | -4% | +4% | 9% | 0.44× | 4.1% | 9.5% |
| Luzerner Kantonalbank LUKN.SW | Switzerland | $7.86B | +28% | -3% | 9% | 1.76× | n/a | 8.9% |
| Commerce Bancshares CBSH | United States | $7.82B | +6% | +9% | 15% | 1.87× | 12.1% | 14.9% |
| CNPC Capital 000617.SZ | China | $12.3B | -31% | -14% | 5% | 0.76× | 7.9% | 4.6% |
| Shanghai Commercial & Savings Bank 5876.TW | Taiwan | $7.56B | +34% | -17% | 9% | 1.17× | 4.0% | 8.6% |
| AU Small Finance Bank AUBANK.NS | India | $7.39B | -10% | +17% | 16% | 3.21× | 44.0% | 15.7% |
| KakaoBank 323410.KS | South Korea | $7.28B | -15% | +6% | 7% | 1.46× | 8.5% | n/a |
Cullen/Frost Bankers has 1 bond outstanding with $100M face value. The agencies rate it BBB+.