Cullen/Frost Bankers, Inc. (CFR) Financial Statements
Cullen/Frost Bankers financial statements at a glance
Cullen/Frost Bankers reported revenue of $2.24 billion for fiscal year 2025 (ended December 31, 2025), up 8.3% from fiscal year 2024. Net income was $635.47 million, a net margin of 28.4%.
At the end of fiscal year 2025 it had total assets of $53.04 billion, total liabilities of $48.47 billion and shareholders' equity of $4.57 billion, with cash of $8.86 billion and total debt of $223.05 million.
Its operations brought in $273.98 million of cash; capital spending was $146.65 million, leaving free cash flow of $127.33 million.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Cullen/Frost Bankers, Inc.
Income Statement
Annual • USD
Cullen/Frost Bankers key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.1B | $2.0B | $1.7B | $1.4B |
| Net income | $635.5M | $569.6M | $585.0M | $567.3M | $432.0M |
| Total assets | $53.0B | $52.5B | $50.8B | $52.9B | $50.9B |
| Total liabilities | $48.5B | $48.6B | $47.1B | $49.8B | $46.4B |
| Shareholders' equity | $4.6B | $3.9B | $3.7B | $3.1B | $4.4B |
| Cash | $8.9B | $10.2B | $8.6B | $11.8B | $16.5B |
| Total debt | $223.0M | $222.8M | $222.6M | $222.4M | $222.2M |
| Operating cash flow | $274.0M | $989.5M | $478.8M | $722.6M | $648.3M |
| Capital spending | $146.7M | $127.8M | $158.6M | $102.5M | $65.9M |
| Free cash flow | $127.3M | $861.8M | $320.2M | $620.1M | $582.4M |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Cullen/Frost Bankers's revenue in fiscal year 2025?
$2.24 billion, up 8.3% from $2.06 billion in fiscal year 2024.
How much profit does Cullen/Frost Bankers make?
Cullen/Frost Bankers reported net income of $635.47 million for fiscal year 2025 (28.4% of revenue).
How much cash and debt does Cullen/Frost Bankers have?
At the end of fiscal year 2025: cash of $8.86 billion and total debt of $223.05 million.
What is Cullen/Frost Bankers's free cash flow?
$127.33 million in fiscal year 2025 (operating cash flow of $273.98 million minus capital spending of $146.65 million).
