Financials in USD. Standardized financial statements.
A compact view of how Cullen/Frost Bankers, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $2.92B | $2.85B | $2.65B | $1.88B | $1.40B | $1.49B | $1.50B | $1.40B | $1.23B | $1.14B |
| Revenue Growth? | +2.5% | +7.7% | +40.7% | +34.8% | -6.1% | -0.7% | +6.8% | +14.1% | +8.0% | 0.0% |
| Cost of Revenue? | $728.80M | $851.01M | $705.22M | $187.44M | $23.96M | $286.26M | $163.54M | $114.99M | $61.98M | $63.75M |
| Gross Profit? | $2.19B | $2.00B | $1.94B | $1.69B | $1.37B | $1.20B | $1.33B | $1.29B | $1.17B | $1.07B |
| Gross Margin? | +75.0% | +70.1% | +73.4% | +90.0% | +98.3% | +80.7% | +89.1% | +91.8% | +95.0% | +94.4% |
| Operating Expenses? | $1.42B | $1.30B | $1.23B | $1.02B | $881.99M | $848.90M | $834.68M | $778.81M | $759.07M | $732.96M |
| Operating Income? | $771.70M | $695.97M | $712.37M | $668.83M | $489.54M | $351.32M | $499.47M | $508.68M | $408.36M | $341.41M |
| EBITDA? | $859.49M | $778.78M | $788.82M | $740.17M | $558.83M | $415.69M | $553.56M | $558.85M | $456.18M | $389.59M |
| Income Before Tax | $771.70M | $695.97M | $712.37M | $668.83M | $489.54M | $351.32M | $499.47M | $508.68M | $408.36M | $341.41M |
| Income Tax Expense | $123.14M | $113.42M | $114.40M | $89.68M | $46.46M | $20.17M | $55.87M | $53.76M | $44.21M | $37.15M |
| Net Income? | $648.56M | $582.54M | $597.97M | $579.15M | $443.08M | $331.15M | $443.60M | $454.92M | $364.15M | $304.26M |
| EPS? | $10.02 | $8.88 | $9.11 | $8.84 | $6.79 | $5.11 | $6.88 | $6.97 | $5.56 | $4.73 |
| Diluted EPS? | $9.92 | $8.87 | $9.08 | $8.79 | $6.74 | $5.09 | $6.81 | $6.90 | $5.51 | $4.70 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality