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Operating Margin for Cullen/Frost Bankers (CFR)

As of · Reported

Metric

TTM

28.5%

YoY change

+2.01pp

Trough year (1990)

-2.5%

Peak year (2018)

36.3%

Operating Margin history chart for Cullen/Frost Bankers (CFR) from 1989 to 2025

Latest: 26.4%

Operating Margin change chart for Cullen/Frost Bankers (CFR) from 1989 to 2025

Latest: +2.01pp

Operating Margin history table for Cullen/Frost Bankers (CFR) from 1989 to 2025

  • 202526.4%+2.01pp
  • 202424.4%-2.50pp
  • 202326.9%-8.65pp
  • 202235.6%+0.49pp
  • 202135.1%+11.45pp
  • 202023.6%-9.72pp
  • 201933.3%-2.92pp
  • 201836.3%+3.05pp
  • 201733.2%+3.22pp
  • 201630.0%+0.34pp
  • 201529.7%-3.23pp
  • 201432.9%+2.12pp
  • 201330.8%-2.74pp
  • 201233.5%+2.16pp
  • 201131.4%+1.74pp
  • 201029.6%+4.22pp
  • 200925.4%-5.44pp
  • 200830.8%+0.95pp
  • 200729.9%-0.99pp
  • 200630.9%-2.15pp
  • 200533.0%-0.77pp
  • 200433.8%+0.83pp
  • 200333.0%+2.48pp
  • 200230.5%+11.88pp
  • 200118.6%-6.50pp
  • 200025.1%+0.28pp
  • 199924.8%+3.97pp
  • 199820.8%-1.42pp
  • 199722.3%+0.34pp
  • 199621.9%+1.18pp
  • 199520.7%+0.33pp
  • 199420.4%+6.11pp
  • 199314.3%+4.05pp
  • 199210.2%+9.97pp
  • 19910.3%+2.75pp
  • 1990-2.5%-3.30pp
  • 19890.8%—

Operating Margin values are taken from Cullen/Frost Bankers's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About Operating Margin at Cullen/Frost Bankers (CFR)

According to Cullen/Frost Bankers's latest reported financial statements, the company's latest reported operating margin is 28.5%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

2025's annual operating margin for Cullen/Frost Bankers (CFR) came in at 26.43% – expanded 2.0 percentage points year-over-year.

2018 marks the peak operating margin at 36.27%, with the historical low of -2.47% recorded in 1990.

Cullen/Frost Bankers Operating Margin by Year

Cullen/Frost Bankers Operating Margin 2025: 26.4%

In 2025, Cullen/Frost Bankers reported operating margin of 26.43%, expanded 2.0 percentage points from 2024.

Cullen/Frost Bankers Operating Margin 2024: 24.4%

Cullen/Frost Bankers operating margin in 2024 was 24.42%, contracted 2.5 percentage points from 2023.

Cullen/Frost Bankers Operating Margin 2023: 26.9%

2023's operating margin for Cullen/Frost Bankers came in at 26.92%, contracted 8.6 percentage points from 2022.

Cullen/Frost Bankers Operating Margin 2022: 35.6%

Cullen/Frost Bankers posted operating margin of 35.57% in 2022, expanded 0.5 percentage points from 2021.

Cullen/Frost Bankers Operating Margin 2021: 35.1%

Cullen/Frost Bankers operating margin in 2021 was 35.08%.

See more financial history for Cullen/Frost Bankers (CFR).

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