# Cullen/Frost Bankers, Inc.: overview

CFR · NYSE · CIK 39263 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/cfr.md) · [Financials](/companies/cfr/financials.md) · [Filings](/companies/cfr/filings.md) · [Insiders](/companies/cfr/insiders.md)

Latest reported revenue: [$36.3m](/filings/0000039263-26-000056.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 29, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000039263-26-000056).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [27.9 d](/filings/0000039263-26-000011.md) | [28.6](/filings/0000039263-26-000035.md) | [29.2](/filings/0000039263-26-000046.md) | [31.4](/filings/0000039263-26-000056.md) | [32.4 d](/filings/0000039263-26-000011.md) | [32.2](/filings/0000039263-26-000035.md) | [34.2](/filings/0000039263-26-000046.md) | [36.3](/filings/0000039263-26-000056.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [554.8% d](/filings/0000039263-26-000011.md) | [527.3%](/filings/0000039263-26-000035.md) | [538.6%](/filings/0000039263-26-000046.md) | [554.6%](/filings/0000039263-26-000056.md) | [513.8% d](/filings/0000039263-26-000011.md) | [531.7%](/filings/0000039263-26-000035.md) | [503.4%](/filings/0000039263-26-000046.md) | [496.4%](/filings/0000039263-26-000056.md) |
| Diluted EPS | $ per share | not reported | [2.30](/filings/0000039263-26-000035.md) | [2.39](/filings/0000039263-26-000046.md) | [2.67](/filings/0000039263-26-000056.md) | not reported | [2.65](/filings/0000039263-26-000035.md) | [2.70](/filings/0000039263-26-000046.md) | [2.84](/filings/0000039263-26-000056.md) |
| Free cash flow | $m | [26.7 d](/filings/0000039263-26-000011.md) | [(337)](/filings/0000039263-26-000035.md) | [115 d](/filings/0000039263-26-000046.md) | [212 d](/filings/0000039263-26-000056.md) | [138 d](/filings/0000039263-26-000011.md) | [199](/filings/0000039263-26-000035.md) | [(7.1) d](/filings/0000039263-26-000046.md) | [249 d](/filings/0000039263-26-000056.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [83.3](/filings/0000039263-24-000013.md) | [91.9](/filings/0000039263-25-000017.md) | [93.5](/filings/0000039263-26-000011.md) | [106](/filings/0000039263-26-000011.md) | [122](/filings/0000039263-26-000011.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [532.0%](/filings/0000039263-24-000013.md) | [630.3%](/filings/0000039263-25-000017.md) | [639.5%](/filings/0000039263-26-000011.md) | [548.4%](/filings/0000039263-26-000011.md) | [533.5%](/filings/0000039263-26-000011.md) |
| Diluted EPS | $ per share | [6.76](/filings/0000039263-24-000013.md) | [8.81](/filings/0000039263-25-000017.md) | [9.10](/filings/0000039263-26-000011.md) | [8.87](/filings/0000039263-26-000011.md) | [9.92](/filings/0000039263-26-000011.md) |
| Free cash flow | $m | [582](/filings/0000039263-24-000013.md) | [620](/filings/0000039263-25-000017.md) | [320](/filings/0000039263-26-000011.md) | [862](/filings/0000039263-26-000011.md) | [127](/filings/0000039263-26-000011.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/cfr/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $1.13bn | 7,335,319 |  | Added +255,504 |
| [Aristotle Capital Management, LLC](/funds/860644.md) | 2026-06-30 | $690.0m | 4,465,464 |  | Reduced −299,545 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $497.3m | 3,218,249 |  | Added +118,313 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $494.7m | 3,201,314 |  | Reduced −23,505 |
| [First Eagle Investment Management, LLC](/funds/1325447.md) | 2026-06-30 | $429.2m | 2,777,658 |  | Added +511,784 |
| [First Eagle Investment Management, LLC](/funds/1325447.md) | 2026-06-30 | $429.2m | 2,777,658 |  | Added +511,784 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $419.6m | 2,715,665 |  | Added +5,620 |
| [BAILLIE GIFFORD & CO](/funds/1088875.md) | 2026-06-30 | $345.1m | 2,233,298 |  | New +2,233,298 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $255.4m | 1,652,820 |  | Added +122,048 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $206.7m | 1,337,700 |  | Added +7,196 |

## Recent filings

[All 1,424 filings](/companies/cfr/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-29 | 16:27 ET | [8-K](/filings/0000039263-26-000057.md) | 3.01 Delisting notice; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000039263-26-000057 |
| 2026-10-29 | 15:30 ET | [10-Q](/filings/0000039263-26-000056.md) | Quarterly report, period 2026-09-30 | 0000039263-26-000056 |
| 2026-10-29 | 09:09 ET | [8-K](/filings/0000039263-26-000053.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000039263-26-000053 |
| 2026-08-17 | 10:39 ET | [8-K](/filings/0000039263-26-000049.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000039263-26-000049 |
| 2026-07-30 | 15:32 ET | [10-Q](/filings/0000039263-26-000046.md) | Quarterly report, period 2026-06-30 | 0000039263-26-000046 |
| 2026-07-30 | 09:30 ET | [8-K](/filings/0000039263-26-000045.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000039263-26-000045 |
| 2026-04-30 | 17:18 ET | [10-Q](/filings/0000039263-26-000035.md) | Quarterly report, period 2026-03-31 | 0000039263-26-000035 |
| 2026-04-30 | 09:20 ET | [8-K](/filings/0000039263-26-000033.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000039263-26-000033 |
| 2026-04-29 | 16:23 ET | [8-K](/filings/0000039263-26-000031.md) | 5.07 Shareholder vote results | 0000039263-26-000031 |
| 2026-03-20 | 14:51 ET | [DEF 14A](/filings/0000039263-26-000023.md) | Proxy statement, period 2025-12-31 | 0000039263-26-000023 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000039263-26-000011.md), filed Feb 5, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, has been scored from the reported figures. [See the target](/leagues/2026q3/targets/0e32e045-0be4-4b80-b7c3-c58abd75fa62)

## About the filer

- CIK: 39263
- Tickers: CFR, CFR-PB
- Exchange: NYSE
- SIC code: 6021 National Commercial Banks
- State of incorporation: TX
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 16:28 ET. No prices; not investment advice.