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NYSE · CIK 0000039263 · NATIONAL COMMERCIAL BANKS

Cullen/Frost Bankers, Inc.

CFR chart by TradingView
P/E 14.1xP/B 2.1xP/SALES 4.2xEV/EBITDA FCF YIELD 5.61%

PRICE HISTORY

LIVE · NYSE
CFR chart by TradingView
REVENUE FY2025 ENDED DEC 2025
$2.2B
EBITDA
FREE CASH FLOW
$0.1B
EPS
$10.12
GROSS MARGIN
ROIC
Q2 FY26ENDED JUN 2026HOVERDRAG ACROSS ANY CHART TO SCRUB ALL 24 · 40 QUARTERS SHOWNVALUATIONGROWTHPROFITABILITY & RETURNSCASH & CAPITALBALANCE SHEET

VALUATION

what you pay for a unit of the business7 CHARTS

P / E RATIO (TTM)

14.1x
-13%
LATEST · Q2 FY26
14.1xQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26
8.5x20.9x

P / SALES (TTM)

4.2x
+2%
LATEST · Q2 FY26
4.2xQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26
2.4x6.4x

P / BOOK

2.1x
+45%
LATEST · Q2 FY26
2.1xQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26
0.9x3.0x

EV / EBITDA (TTM)

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

EV / REVENUE (TTM)

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

FCF YIELD (TTM)

5.61%
-1.2pp
LATEST · Q2 FY26
5.61%Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26
0.19%15.42%

DIVIDEND YIELD (TTM)

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

GROWTH

is the business getting bigger5 CHARTS

REVENUE

$0.6B
+108%
LATEST · Q2 FY26
0.6BQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

EBITDA (DERIVED)

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

NET INCOME

$0.2B
+114%
LATEST · Q2 FY26
0.2BQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

EPS (DILUTED)

$2.75
+117%
LATEST · Q2 FY26
2.75Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

REVENUE GROWTH YOY

5.33%
+3.0pp
LATEST · Q2 FY26
5.33%Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26
-26.96%44.14%

PROFITABILITY & RETURNS

what survives to the bottom, and what it earns on capital4 CHARTS

FCF MARGIN

-1.24%
-54.0pp
LATEST · Q2 FY26
-1.24%Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26
-62.39%91.44%

RETURN ON CAPITAL

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

RETURN ON EQUITY (TTM)

14.79%
+6.0pp
LATEST · Q2 FY26
14.79%Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26
7.71%22.89%

MARGIN FUNNEL

every line is a share of the same revenue, so they read on one scale — the gaps are what each layer takes out, and net rises above operating when income arrives from outside the business
GROSS MARGIN
OPERATING MARGIN
NET MARGIN29.87%
FCF MARGIN-1.24%
106.8260.6714.52-31.63-77.78NETFCFQ3 FY16Q3 FY17Q3 FY18Q3 FY19Q3 FY20Q3 FY21Q3 FY22Q3 FY23Q3 FY24Q3 FY25Q2 FY26

CASH & CAPITAL

where the money actually goes5 CHARTS

FREE CASH FLOW

$-0.0B
-105%
LATEST · Q2 FY26
-0.0BQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

STOCK-BASED COMP

$0.0B
+114%
LATEST · Q2 FY26
0.0BQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

CAPITAL EXPENDITURE

$0.1B
+554%
LATEST · Q2 FY26
0.1BQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

SHARES OUTSTANDING

0.06B
-1%
LATEST · Q2 FY26
0.06BQ3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

DIVIDEND / SHARE

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

BALANCE SHEET

how much cushion there is3 CHARTS

CASH & EQUIVALENTS

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

TOTAL DEBT

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

DEBT / EBITDA (TTM)

LATEST · Q2 FY26
Q3 FY16Q3 FY18Q3 FY20Q3 FY22Q3 FY24Q2 FY26

OWNERSHIP

10 LARGEST HOLDERS · WHO OWNS THE FLOAT
INSTITUTIONS 97.81%INSIDERS 6.14%OTHER / RETAIL 0.00%704 INSTITUTIONAL FILERS
HOLDER% HELDSHARESVALUECHANGE
Blackrock Inc.11.39%7.1M$1.16B+0.5%
Aristotle Capital Management, LLC7.67%4.8M$783.8M-4.9%
Vanguard Portfolio Management LLC5.19%3.2M$530.5MNEW
State Street Corporation4.99%3.1M$509.9M-7.5%
First Eagle Investment Management, LLC4.47%2.8M$456.9M+22.6%
Vanguard Capital Management LLC4.36%2.7M$445.8MNEW
BAILLIE GIFFORD & CO3.59%2.2M$367.4MNEW
Dimensional Fund Advisors LP2.46%1.5M$251.8M+18.3%
Geode Capital Management, LLC2.14%1.3M$218.9M+8.7%
King Luther Capital Management2.13%1.3M$218.1M-0.5%
AS OF 2026-03-31 · MOST RECENT 13F FILINGS
SOURCE → 10-K · 10-Q · 8-K / GUIDANCE · ALL FILINGS
FILING DATA AS OF 2026-08-10. Figures are derived from public SEC EDGAR filings (40most recent quarters shown, Q4 implied as full-year minus Q1-Q3). Valuation multiples use each period’s fiscal period-end close. Live price charts and quotes are provided by TradingView. This page is informational only — it is not investment advice, and figures are not warranted for accuracy. EBITDA is not a GAAP measure; it is derived as operating income + D&A. Verify against the linked source filing before relying on any number here.