CULLEN/FROST BANKERS INC (CFR) Fundamental Analysis & Valuation

NYSE:CFR • US2298991090

Current stock price

132.13 USD
-0.8 (-0.6%)
At close:
132.13 USD
0 (0%)
After Hours:

This CFR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. CFR Profitability Analysis

1.1 Basic Checks

  • CFR had positive earnings in the past year.
  • In the past year CFR had a positive cash flow from operations.
  • In the past 5 years CFR has always been profitable.
  • In the past 5 years CFR always reported a positive cash flow from operatings.
CFR Yearly Net Income VS EBIT VS OCF VS FCFCFR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

1.2 Ratios

  • The Return On Assets of CFR (1.20%) is better than 76.12% of its industry peers.
  • The Return On Equity of CFR (13.90%) is better than 90.29% of its industry peers.
Industry RankSector Rank
ROA 1.2%
ROE 13.9%
ROIC N/A
ROA(3y)1.14%
ROA(5y)1.07%
ROE(3y)14.75%
ROE(5y)14.41%
ROIC(3y)N/A
ROIC(5y)N/A
CFR Yearly ROA, ROE, ROICCFR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 28.43%, CFR is in the better half of the industry, outperforming 69.03% of the companies in the same industry.
  • CFR's Profit Margin has improved in the last couple of years.
  • CFR does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 28.43%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.27%
PM growth 5Y5.04%
GM growth 3YN/A
GM growth 5YN/A
CFR Yearly Profit, Operating, Gross MarginsCFR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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0

2. CFR Health Analysis

2.1 Basic Checks

  • CFR does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, CFR has less shares outstanding
  • The number of shares outstanding for CFR has been increased compared to 5 years ago.
  • The debt/assets ratio for CFR is higher compared to a year ago.
CFR Yearly Shares OutstandingCFR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
CFR Yearly Total Debt VS Total AssetsCFR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • The Debt to FCF ratio of CFR is 37.44, which is on the high side as it means it would take CFR, 37.44 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 37.44, CFR is not doing good in the industry: 83.73% of the companies in the same industry are doing better.
  • A Debt/Equity ratio of 1.04 is on the high side and indicates that CFR has dependencies on debt financing.
  • CFR has a worse Debt to Equity ratio (1.04) than 84.78% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 37.44
Altman-Z N/A
ROIC/WACCN/A
WACC10.34%
CFR Yearly LT Debt VS Equity VS FCFCFR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
CFR Yearly Current Assets VS Current LiabilitesCFR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. CFR Growth Analysis

3.1 Past

  • CFR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 11.84%, which is quite good.
  • The Earnings Per Share has been growing by 14.23% on average over the past years. This is quite good.
  • CFR shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -12.86%.
  • Measured over the past years, CFR shows a quite strong growth in Revenue. The Revenue has been growing by 9.17% on average per year.
EPS 1Y (TTM)11.84%
EPS 3Y4.03%
EPS 5Y14.23%
EPS Q2Q%8.47%
Revenue 1Y (TTM)-12.86%
Revenue growth 3Y9.64%
Revenue growth 5Y9.17%
Sales Q2Q%4.37%

3.2 Future

  • CFR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.26% yearly.
  • The Revenue is expected to grow by 3.24% on average over the next years.
EPS Next Y3.97%
EPS Next 2Y3.5%
EPS Next 3Y2.68%
EPS Next 5Y4.26%
Revenue Next Year5.35%
Revenue Next 2Y5.02%
Revenue Next 3Y4.23%
Revenue Next 5Y3.24%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
CFR Yearly Revenue VS EstimatesCFR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1B 2B 3B
CFR Yearly EPS VS EstimatesCFR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5 10 15

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2

4. CFR Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 13.32, which indicates a correct valuation of CFR.
  • Compared to the rest of the industry, the Price/Earnings ratio of CFR indicates a slightly more expensive valuation: CFR is more expensive than 64.57% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.70. CFR is valued slightly cheaper when compared to this.
  • A Price/Forward Earnings ratio of 12.81 indicates a correct valuation of CFR.
  • Based on the Price/Forward Earnings ratio, CFR is valued a bit more expensive than 70.60% of the companies in the same industry.
  • CFR is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.84, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.32
Fwd PE 12.81
CFR Price Earnings VS Forward Price EarningsCFR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, CFR is valued expensively inside the industry as 82.68% of the companies are valued cheaper.
Industry RankSector Rank
P/FCF 65.58
EV/EBITDA N/A
CFR Per share dataCFR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CFR does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)3.35
PEG (5Y)0.94
EPS Next 2Y3.5%
EPS Next 3Y2.68%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. CFR Dividend Analysis

5.1 Amount

  • CFR has a Yearly Dividend Yield of 3.01%. Purely for dividend investing, there may be better candidates out there.
  • CFR's Dividend Yield is comparable with the industry average which is at 2.87.
  • Compared to an average S&P500 Dividend Yield of 1.89, CFR pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.01%

5.2 History

  • The dividend of CFR is nicely growing with an annual growth rate of 7.24%!
  • CFR has been paying a dividend for at least 10 years, so it has a reliable track record.
  • CFR has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)7.24%
Div Incr Years31
Div Non Decr Years31
CFR Yearly Dividends per shareCFR Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • CFR pays out 41.23% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • CFR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP41.23%
EPS Next 2Y3.5%
EPS Next 3Y2.68%
CFR Yearly Income VS Free CF VS DividendCFR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M
CFR Dividend Payout.CFR Dividend Payout, showing the Payout Ratio.CFR Dividend Payout.PayoutRetained Earnings

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CFR Fundamentals: All Metrics, Ratios and Statistics

CULLEN/FROST BANKERS INC

NYSE:CFR (3/13/2026, 8:15:14 PM)

After market: 132.13 0 (0%)

132.13

-0.8 (-0.6%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-29
Earnings (Next)04-29
Inst Owners88.16%
Inst Owner Change-0.28%
Ins Owners0.71%
Ins Owner Change0.79%
Market Cap8.35B
Revenue(TTM)2.24B
Net Income(TTM)635.49M
Analysts66.32
Price Target149.65 (13.26%)
Short Float %2.85%
Short Ratio3.14
Dividend
Industry RankSector Rank
Dividend Yield 3.01%
Yearly Dividend4.11
Dividend Growth(5Y)7.24%
DP41.23%
Div Incr Years31
Div Non Decr Years31
Ex-Date02-27
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.16%
Min EPS beat(2)3.36%
Max EPS beat(2)10.96%
EPS beat(4)4
Avg EPS beat(4)5.56%
Min EPS beat(4)2.67%
Max EPS beat(4)10.96%
EPS beat(8)7
Avg EPS beat(8)4.29%
EPS beat(12)10
Avg EPS beat(12)2.23%
EPS beat(16)14
Avg EPS beat(16)3.03%
Revenue beat(2)0
Avg Revenue beat(2)-0.6%
Min Revenue beat(2)-0.69%
Max Revenue beat(2)-0.51%
Revenue beat(4)2
Avg Revenue beat(4)0.75%
Min Revenue beat(4)-0.69%
Max Revenue beat(4)2.46%
Revenue beat(8)5
Avg Revenue beat(8)-1.25%
Revenue beat(12)9
Avg Revenue beat(12)0.19%
Revenue beat(16)11
Avg Revenue beat(16)5.14%
PT rev (1m)0.88%
PT rev (3m)5.71%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.88%
EPS NY rev (1m)0.77%
EPS NY rev (3m)4.38%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.08%
Revenue NY rev (1m)0.59%
Revenue NY rev (3m)0.84%
Valuation
Industry RankSector Rank
PE 13.32
Fwd PE 12.81
P/S 3.74
P/FCF 65.58
P/OCF 30.48
P/B 1.83
P/tB 1.83
EV/EBITDA N/A
EPS(TTM)9.92
EY7.51%
EPS(NY)10.31
Fwd EY7.81%
FCF(TTM)2.01
FCFY1.52%
OCF(TTM)4.34
OCFY3.28%
SpS35.37
BVpS72.36
TBVpS72.36
PEG (NY)3.35
PEG (5Y)0.94
Graham Number127.08
Profitability
Industry RankSector Rank
ROA 1.2%
ROE 13.9%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 28.43%
GM N/A
FCFM 5.7%
ROA(3y)1.14%
ROA(5y)1.07%
ROE(3y)14.75%
ROE(5y)14.41%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.27%
PM growth 5Y5.04%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 1.04
Debt/FCF 37.44
Debt/EBITDA N/A
Cap/Depr 167.06%
Cap/Sales 6.56%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 20.04%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC10.34%
ROIC/WACCN/A
Cap/Depr(3y)176.57%
Cap/Depr(5y)153.71%
Cap/Sales(3y)6.92%
Cap/Sales(5y)6.32%
Profit Quality(3y)75.31%
Profit Quality(5y)94.01%
High Growth Momentum
Growth
EPS 1Y (TTM)11.84%
EPS 3Y4.03%
EPS 5Y14.23%
EPS Q2Q%8.47%
EPS Next Y3.97%
EPS Next 2Y3.5%
EPS Next 3Y2.68%
EPS Next 5Y4.26%
Revenue 1Y (TTM)-12.86%
Revenue growth 3Y9.64%
Revenue growth 5Y9.17%
Sales Q2Q%4.37%
Revenue Next Year5.35%
Revenue Next 2Y5.02%
Revenue Next 3Y4.23%
Revenue Next 5Y3.24%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-85.21%
FCF growth 3Y-41%
FCF growth 5Y-21.56%
OCF growth 1Y-72.31%
OCF growth 3Y-27.62%
OCF growth 5Y-12.17%

CULLEN/FROST BANKERS INC / CFR Fundamental Analysis FAQ

What is the ChartMill fundamental rating of CULLEN/FROST BANKERS INC (CFR) stock?

ChartMill assigns a fundamental rating of 3 / 10 to CFR.


What is the valuation status for CFR stock?

ChartMill assigns a valuation rating of 2 / 10 to CULLEN/FROST BANKERS INC (CFR). This can be considered as Overvalued.


What is the profitability of CFR stock?

CULLEN/FROST BANKERS INC (CFR) has a profitability rating of 4 / 10.


What is the financial health of CULLEN/FROST BANKERS INC (CFR) stock?

The financial health rating of CULLEN/FROST BANKERS INC (CFR) is 0 / 10.


How sustainable is the dividend of CULLEN/FROST BANKERS INC (CFR) stock?

The dividend rating of CULLEN/FROST BANKERS INC (CFR) is 6 / 10 and the dividend payout ratio is 41.23%.