Cullen/Frost Bankers (NYSE: CFR) financial statements
The consolidated income statement, balance sheet and cash flow statement of Cullen/Frost Bankers for its last 10 fiscal years, as filed with the regulator, in millions of US dollars. At the end of fiscal 2025 it had $53,041m in total assets and $4,573m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2,235m | $2,064m | $1,987m | $1,696m | $1,372m | $1,441m | $1,368m | $1,309m | $1,203m | $1,126m |
| Operating profit | $771.7m | $696.0m | $712.4m | $668.8m | $489.5m | $351.3m | $499.5m | $508.7m | $408.4m | $341.4m |
| Finance costs | $684.6m | $786.0m | $659.1m | $184.4m | $23.9m | $45.0m | $129.8m | $93.3m | $26.5m | $12.1m |
| Profit before tax | $771.7m | $696.0m | $712.4m | $668.8m | $489.5m | $351.3m | $499.5m | $508.7m | $408.4m | $341.4m |
| Income tax | $123.1m | $113.4m | $114.4m | $89.7m | $46.5m | $20.2m | $55.9m | $53.8m | $44.2m | $37.2m |
| Net profit | $648.6m | $582.5m | $598.0m | $579.2m | $443.1m | $331.2m | $443.6m | $454.9m | $364.1m | $304.3m |
| Earnings per share | $9.92 | $8.88 | $9.11 | $8.84 | $6.79 | $5.11 | $6.89 | $6.97 | $5.56 | $4.73 |
| Diluted earnings per share | $9.92 | $8.87 | $9.10 | $8.81 | $6.76 | $5.10 | $6.84 | $6.90 | $5.51 | $4.70 |
| Depreciation and amortisation | $87.8m | $82.8m | $76.4m | $71.3m | $69.3m | $64.4m | $54.1m | $50.2m | $47.8m | $48.2m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $53,041m | $52,520m | $50,845m | $52,892m | $50,878m | $42,391m | $34,027m | $32,293m | $31,748m | $30,196m |
| Property, plant and equipment | $1,313m | $1,245m | $1,190m | $1,103m | $1,050m | $1,046m | $1,012m | $552.3m | $521.0m | $525.8m |
| Goodwill | — | — | — | $655.0m | $655.0m | $655.0m | $655.0m | $655.0m | $655.0m | $655.0m |
| Cash | $8,874m | $10,234m | $8,687m | $12,028m | $16,583m | $10,289m | $3,788m | — | — | — |
| Total liabilities | $48,468m | $48,622m | $47,129m | $49,755m | $46,439m | $38,098m | $30,116m | $28,924m | $28,450m | $27,194m |
| Equity | $4,573m | $3,899m | $3,716m | $3,137m | $4,440m | $4,293m | $3,912m | $3,369m | $3,298m | $3,003m |
| Equity including minorities | $4,573m | $3,899m | $3,716m | $3,137m | $4,440m | $4,293m | $3,912m | $3,369m | $3,298m | $3,003m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $274.0m | $989.5m | $478.8m | $722.6m | $648.3m | $524.2m | $634.1m | $562.4m | $538.1m | $437.8m |
| Investing cash flow | −$1,601m | −$180.9m | −$942.8m | −$8,277m | −$2,525m | −$1,631m | −$1,387m | −$1,913m | −$670.6m | −$1,374m |
| Financing cash flow | −$33.1m | $738.3m | −$2,877m | $3,000m | $8,171m | $7,607m | $585.1m | $253.7m | $1,044m | $1,486m |
| Capital expenditure | −$146.7m | −$127.8m | −$158.6m | −$102.5m | −$65.9m | −$95.4m | −$206.7m | −$79.3m | −$34.1m | −$53.6m |
| Dividends paid | −$255.4m | −$242.4m | −$232.3m | −$209.8m | −$188.8m | −$180.6m | −$177.0m | −$165.4m | −$144.2m | −$134.9m |
Where each figure comes from
From the annual report (Form 10-K) that Cullen/Frost Bankers files with the SEC. The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Cullen/Frost Bankers page.
Dividend per share of Cullen/Frost Bankers by fiscal year, with the filing behind every figure: Cullen/Frost Bankers dividend history.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.