Cullen/Frost Bankers, Inc.

CFR

$163.26

+0.32%

2026-09-04 09:53:16 EDT+$0.53

Financial Services

Banks - Regional

NYSE

Active Trading

Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The ...

Key Metrics of CFR

Snapshot

Latest / TTM · 6 periods

Market Cap

$10.11B

ROCE

1.7%

EV / EBITDA

16.46x

-12.2% YoY

FCF Yield

6.4%

+4.8% YoY

Cash Conversion Cycle

35.2d

Current Ratio

0.19

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Key Metrics

Latest / TTM · 6 periods

Valuation trend

Valuation trend table

Metric	2021	2022	2023	2024	2025	TTM
Market CapTotal market value of all shares outstanding.	$8.02B	$8.58B	$6.97B	$8.62B	$8.11B	$10.11B
Enterprise ValueCompany value including debt and cash adjustments.	$-5.53B	$1.69B	$2.73B	$2.99B	$4.01B	$14.84B
EV / SalesHow many dollars investors pay per dollar of sales.	-3.96x	0.90x	1.03x	1.05x	1.37x	5.61x
EV / EBITDAValuation multiple versus operating earnings before non-cash charges.	-9.90x	2.29x	3.46x	3.83x	4.67x	16.46x
Net Debt / EBITDALeverage ratio using net debt divided by EBITDA.	-24.25	-9.30	-5.37	-7.23	-4.77	5.24

Returns + ROCE gauge

ROCE latest

1.7%

Prev year 13.8%

Returns + ROCE gauge table

Metric	2021	2022	2023	2024	2025	TTM
ROEProfit generated from shareholders' equity.	10.0%	18.5%	16.1%	14.9%	14.2%	15.0%
ROAProfit generated from total assets.	0.9%	1.1%	1.2%	1.1%	1.2%	1.3%
ROICReturn generated on invested operating capital.	-3.3%	-3.5%	-3.0%	-2.8%	-1.8%	-26.4%
ROCEOperating return on long-term capital used.	10.5%	19.9%	14.9%	12.8%	13.8%	1.7%
Earnings YieldEarnings as a percentage of market value.	5.5%	6.8%	8.6%	6.8%	8.0%	6.7%

Cash flow quality

Cash flow quality table

Metric	2021	2022	2023	2024	2025	TTM
FCFFCash flow available to all capital providers.	$604.08M	$779.79M	$873.43M	$1.52B	$702.68M	$1.13B
FCFECash flow available to equity holders after debt flows.	$1.22B	$2.57B	$-250.69M	$1.09B	$307.04M	$1.49B
FCF YieldFree cash flow divided by market capitalization.	7.3%	7.2%	4.6%	10.0%	1.6%	6.4%
Income QualityHow well accounting earnings are backed by cash flow.	1.46	1.25	0.80	1.70	0.42	1.05
Capex / OCFShare of operating cash flow spent on capital expenditures.	10.2%	14.2%	33.1%	12.9%	53.5%	10.3%

Operating efficiency

Operating efficiency table

Metric	2021	2022	2023	2024	2025	TTM
DSOAverage days to collect cash from customers.	160.2d	209.2d	0.0d	0.0d	0.0d	35.2d
DIOAverage days inventory stays before being sold.	0.0d	0.0d	0.0d	0.0d	0.0d	0.0d
DPOAverage days the company takes to pay suppliers.	11488.8d	1686.9d	0.0d	0.0d	0.0d	0.0d
Operating CycleTime from buying inventory to collecting receivables.	160.2d	209.2d	0.0d	0.0d	0.0d	35.2d
Cash Conversion CycleNet days cash is tied in operations.	-11328.6d	-1477.7d	0.0d	0.0d	0.0d	35.2d

Snapshot

Latest / TTM: —

Market Cap

$10.11B

ROE

15.0%

FCF Yield

6.4%

Current Ratio

0.19

Upstream

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Downstream

Texas Retail Banking ConsumersTexas Commercial & Business Banking ClientsWealth Management & Private Banking ClientsCorrespondent Banking Clients (300+ institutions)Frost Insurance AgencyFrost Brokerage Services, Inc.

Proxies

Texas Capital Bancshares, Inc.NASDAQ:TCBI Prosperity Bancshares, Inc.NYSE:PB Comerica IncorporatedNYSE:CMA

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Cullen/Frost Bankers, Inc.

Key Metrics of CFR

Key Metrics

Valuation trend

Returns + ROCE gauge

Cash flow quality

Operating efficiency

Snapshot

Supply Chain of CFR

Upstream

Downstream

Proxies

Key Metrics of CFR

Key Metrics

Valuation trend

Returns + ROCE gauge

Cash flow quality

Operating efficiency

Snapshot

Supply Chain of CFR

Upstream

Downstream

Proxies