CULLEN/FROST BANKERS, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.2B | $2.1B | $2.0B | $1.7B | $1.4B |
| Interest expense | — | — | $659.1M | $184.4M | $23.9M |
| Pretax income | $771.7M | $696.0M | $712.4M | $668.8M | $489.5M |
| Income tax expense | $123.1M | $113.4M | $114.4M | $89.7M | $46.5M |
| Net income | $648.6M | $582.5M | $598.0M | $579.1M | $443.1M |
| Balance Sheet | |||||
| Total assets | $53.0B | $52.5B | $50.8B | $52.9B | $50.9B |
| Total liabilities | $48.5B | $48.6B | $47.1B | $49.8B | $46.4B |
| Stockholders' equity | $4.6B | $3.9B | $3.7B | $3.1B | $4.4B |
| Cash Flow Statement | |||||
| Cash from operations | $274.0M | $989.5M | $478.8M | $722.6M | $648.3M |
| Depreciation and amortization | $67.3M | $61.9M | $60.6M | $57.4M | $55.1M |
| Stock-based compensation | $24.8M | $19.8M | $24.6M | $18.3M | $12.8M |
| Capital expenditure | $146.7M | $127.8M | $158.6M | $102.5M | $65.8M |
| Free cash flow | $127.3M | $861.8M | $320.2M | $620.1M | $582.4M |
| Dividends paid | $255.4M | $242.4M | $232.3M | $209.8M | $188.8M |
| Share repurchases | $157.8M | $60.9M | $42.7M | $4.4M | $3.9M |
Shares outstanding 62.8M · Free float 98.9%
Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.