How does Cullen/Frost Bankers (CFR) make money?

Cullen/Frost Bankers (CFR) generates revenue primarily from Bank, which accounted for 90.7% of total revenue in TTM through Q1 2026. The company reported $2.79B in revenue and converted 24% of it into net profit, equivalent to roughly $668.62M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Cullen/Frost Bankers (CFR)?

Cullen/Frost Bankers (CFR) reported a gross profit margin of 80.1% in TTM through Q1 2026, equivalent to $2.23B in gross profit on $2.79B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Cullen/Frost Bankers (CFR)?

Cullen/Frost Bankers (CFR) reported an operating profit margin of 28.5% in TTM through Q1 2026, equivalent to $795.01M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Cullen/Frost Bankers (CFR)?

Cullen/Frost Bankers (CFR) reported a net profit margin of 24% in TTM through Q1 2026, equivalent to $668.62M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Cullen/Frost Bankers (CFR) profitable?

Yes. Cullen/Frost Bankers (CFR) reported $668.62M in net income for TTM through Q1 2026, with a net profit margin of 24%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Cullen/Frost Bankers (CFR) spend on capital expenditures?

Cullen/Frost Bankers (CFR) spent $40.17M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 1.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Cullen/Frost Bankers (CFR) generate?

Cullen/Frost Bankers (CFR) generated $767.24M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 27.5%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Cullen/Frost Bankers (CFR)?

Cullen/Frost Bankers (CFR) had an effective tax rate of 15.9% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Cullen/Frost Bankers (CFR)?

Cullen/Frost Bankers (CFR) reports revenue across 2 reportable product segments, led by Bank at 90.3% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Cullen/Frost Bankers Makes Money: 2026 Visual Revenue Map

Cullen/Frost Bankers (CFR) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 30, 2026).

Cullen/Frost Bankers discloses geographic revenue only in annual filings. to view the full breakdown.

Cullen/Frost Bankers (CFR) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Cullen/Frost Bankers (CFR) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Bank	$2.51B	90.3%
Frost Wealth Advisors	$270.69M	9.7%
Total	$2.79B	100%

Bank$2.51B
Frost Wealth Advisors$270.69M
Total$2.79B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Cullen/Frost Bankers (CFR) reports revenue across 2 operating segments; the largest segment was Bank at 90.3%, followed by Frost Wealth Advisors (9.7%).

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