Cullen/Frost Bankers Inc
Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquis… Read more
Cullen/Frost Bankers Inc (CFR) - Net Assets
Latest net assets as of September 2025: $4.46 Billion USD
Based on the latest financial reports, Cullen/Frost Bankers Inc (CFR) has net assets worth $4.46 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($52.53 Billion) and total liabilities ($48.07 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $4.46 Billion |
| % of Total Assets | 8.49% |
| Annual Growth Rate | 9.2% |
| 5-Year Change | -9.19% |
| 10-Year Change | 34.88% |
| Growth Volatility | 11.09 |
Cullen/Frost Bankers Inc - Net Assets Trend (1989–2024)
This chart illustrates how Cullen/Frost Bankers Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Cullen/Frost Bankers Inc (1989–2024)
The table below shows the annual net assets of Cullen/Frost Bankers Inc from 1989 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $3.90 Billion | +4.90% |
| 2023-12-31 | $3.72 Billion | +18.47% |
| 2022-12-31 | $3.14 Billion | -29.35% |
| 2021-12-31 | $4.44 Billion | +3.42% |
| 2020-12-31 | $4.29 Billion | +9.74% |
| 2019-12-31 | $3.91 Billion | +16.12% |
| 2018-12-31 | $3.37 Billion | +2.16% |
| 2017-12-31 | $3.30 Billion | +9.84% |
| 2016-12-31 | $3.00 Billion | +3.88% |
| 2015-12-31 | $2.89 Billion | +1.37% |
| 2014-12-31 | $2.85 Billion | +13.41% |
| 2013-12-31 | $2.51 Billion | +4.00% |
| 2012-12-31 | $2.42 Billion | +5.87% |
| 2011-12-31 | $2.28 Billion | +10.76% |
| 2010-12-31 | $2.06 Billion | +8.83% |
| 2009-12-31 | $1.89 Billion | +7.42% |
| 2008-12-31 | $1.76 Billion | +19.39% |
| 2007-12-31 | $1.48 Billion | +7.28% |
| 2006-12-31 | $1.38 Billion | +40.18% |
| 2005-12-31 | $982.24 Million | +19.44% |
| 2004-12-31 | $822.39 Million | +6.80% |
| 2003-12-31 | $770.00 Million | +9.41% |
| 2002-12-31 | $703.79 Million | +18.30% |
| 2001-12-31 | $594.92 Million | +3.82% |
| 2000-12-31 | $573.03 Million | +12.51% |
| 1999-12-31 | $509.31 Million | -0.70% |
| 1998-12-31 | $512.90 Million | +10.80% |
| 1997-12-31 | $462.90 Million | +22.17% |
| 1996-12-31 | $378.90 Million | +10.95% |
| 1995-12-31 | $341.50 Million | +15.61% |
| 1994-12-31 | $295.40 Million | +8.01% |
| 1993-12-31 | $273.50 Million | +32.70% |
| 1992-12-31 | $206.10 Million | +16.97% |
| 1991-12-31 | $176.20 Million | +1.61% |
| 1990-12-31 | $173.40 Million | -3.29% |
| 1989-12-31 | $179.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Cullen/Frost Bankers Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 5403.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $3.95 Billion | 101.36% |
| Common Stock | $644.00K | 0.02% |
| Other Comprehensive Income | $-1.25 Billion | -32.11% |
| Other Components | $1.20 Billion | 30.74% |
| Total Equity | $3.90 Billion | 100.00% |
Cullen/Frost Bankers Inc Competitors by Market Cap
The table below lists competitors of Cullen/Frost Bankers Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Alstom S.A.
PA:ALO
|
$8.09 Billion |
|
Auckland International Airport Limited
PINK:ACKDF
|
$8.10 Billion |
|
Swiss Prime Site AG
PINK:SWPRF
|
$8.10 Billion |
|
Acuity Brands Inc
NYSE:AYI
|
$8.11 Billion |
|
Shandong Hualu Hengsheng Chemical Co Ltd
SHG:600426
|
$8.09 Billion |
|
NWOEF
PINK:NWOEF
|
$8.08 Billion |
|
Samsung Biologics Co Ltd
KO:207940
|
$8.08 Billion |
|
UMB Financial Corporation
NASDAQ:UMBF
|
$8.07 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Cullen/Frost Bankers Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,716,447,000 to 3,898,588,000, a change of 182,141,000 (4.9%).
- Net income of 582,542,000 contributed positively to equity growth.
- Dividend payments of 249,121,000 reduced retained earnings.
- Share repurchases of 60,901,000 reduced equity.
- Other comprehensive income decreased equity by 132,785,000.
- Other factors increased equity by 42,406,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $582.54 Million | +14.94% |
| Dividends Paid | $249.12 Million | -6.39% |
| Share Repurchases | $60.90 Million | -1.56% |
| Other Comprehensive Income | $-132.78 Million | -3.41% |
| Other Changes | $42.41 Million | +1.09% |
| Total Change | $- | 4.90% |
Book Value vs Market Value Analysis
This analysis compares Cullen/Frost Bankers Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.15x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 28.04x to 2.15x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1989-12-31 | $4.65 | $130.36 | x |
| 1990-12-31 | $4.65 | $130.36 | x |
| 1991-12-31 | $4.64 | $130.36 | x |
| 1992-12-31 | $4.87 | $130.36 | x |
| 1993-12-31 | $6.19 | $130.36 | x |
| 1994-12-31 | $6.58 | $130.36 | x |
| 1995-12-31 | $7.49 | $130.36 | x |
| 1996-12-31 | $6.99 | $130.36 | x |
| 1997-12-31 | $8.50 | $130.36 | x |
| 1998-12-31 | $9.36 | $130.36 | x |
| 1999-12-31 | $9.29 | $130.36 | x |
| 2000-12-31 | $10.69 | $130.36 | x |
| 2001-12-31 | $11.14 | $130.36 | x |
| 2002-12-31 | $13.37 | $130.36 | x |
| 2003-12-31 | $14.63 | $130.36 | x |
| 2004-12-31 | $15.48 | $130.36 | x |
| 2005-12-31 | $18.23 | $130.36 | x |
| 2006-12-31 | $24.32 | $130.36 | x |
| 2007-12-31 | $24.73 | $130.36 | x |
| 2008-12-31 | $29.80 | $130.36 | x |
| 2009-12-31 | $31.83 | $130.36 | x |
| 2010-12-31 | $34.03 | $130.36 | x |
| 2011-12-31 | $37.27 | $130.36 | x |
| 2012-12-31 | $39.22 | $130.36 | x |
| 2013-12-31 | $41.14 | $130.36 | x |
| 2014-12-31 | $45.28 | $130.36 | x |
| 2015-12-31 | $45.54 | $130.36 | x |
| 2016-12-31 | $47.68 | $130.36 | x |
| 2017-12-31 | $51.00 | $130.36 | x |
| 2018-12-31 | $52.08 | $130.36 | x |
| 2019-12-31 | $61.66 | $130.36 | x |
| 2020-12-31 | $68.14 | $130.36 | x |
| 2021-12-31 | $69.26 | $130.36 | x |
| 2022-12-31 | $48.62 | $130.36 | x |
| 2023-12-31 | $57.90 | $130.36 | x |
| 2024-12-31 | $60.65 | $130.36 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Cullen/Frost Bankers Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.94%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.44%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 13.47x
- Recent ROE (14.94%) is above the historical average (12.21%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1989 | 1.51% | 0.77% | 0.10x | 19.55x | $-15.23 Million |
| 1990 | -4.73% | -2.53% | 0.10x | 18.77x | $-25.54 Million |
| 1991 | 0.11% | 0.07% | 0.09x | 17.47x | $-17.42 Million |
| 1992 | 11.69% | 9.57% | 0.08x | 15.29x | $3.49 Million |
| 1993 | 17.22% | 17.72% | 0.07x | 13.31x | $19.75 Million |
| 1994 | 12.66% | 13.25% | 0.07x | 12.84x | $7.86 Million |
| 1995 | 13.56% | 13.47% | 0.08x | 12.30x | $12.15 Million |
| 1996 | 16.60% | 14.17% | 0.09x | 12.90x | $25.01 Million |
| 1997 | 15.77% | 14.43% | 0.08x | 13.06x | $26.71 Million |
| 1998 | 14.74% | 13.39% | 0.08x | 13.39x | $24.31 Million |
| 1999 | 19.16% | 16.30% | 0.09x | 13.74x | $46.67 Million |
| 2000 | 18.99% | 16.06% | 0.09x | 13.37x | $51.51 Million |
| 2001 | 13.60% | 12.55% | 0.08x | 14.07x | $21.42 Million |
| 2002 | 16.62% | 19.80% | 0.06x | 13.55x | $46.61 Million |
| 2003 | 16.95% | 22.33% | 0.06x | 12.56x | $53.50 Million |
| 2004 | 17.18% | 22.84% | 0.06x | 12.10x | $59.09 Million |
| 2005 | 16.84% | 22.35% | 0.06x | 11.95x | $67.20 Million |
| 2006 | 14.06% | 20.94% | 0.07x | 9.60x | $55.90 Million |
| 2007 | 14.36% | 20.45% | 0.08x | 9.13x | $64.36 Million |
| 2008 | 11.75% | 21.52% | 0.06x | 8.53x | $30.90 Million |
| 2009 | 9.45% | 19.53% | 0.06x | 8.60x | $-10.41 Million |
| 2010 | 10.13% | 23.21% | 0.05x | 8.55x | $2.60 Million |
| 2011 | 9.53% | 23.83% | 0.04x | 8.90x | $-10.82 Million |
| 2012 | 9.84% | 25.85% | 0.04x | 9.57x | $-3.80 Million |
| 2013 | 9.46% | 25.16% | 0.04x | 9.67x | $-13.55 Million |
| 2014 | 9.75% | 27.21% | 0.04x | 9.92x | $-7.16 Million |
| 2015 | 9.66% | 25.91% | 0.04x | 9.88x | $-9.71 Million |
| 2016 | 10.13% | 26.73% | 0.04x | 10.06x | $4.01 Million |
| 2017 | 11.04% | 29.62% | 0.04x | 9.63x | $34.36 Million |
| 2018 | 13.50% | 32.44% | 0.04x | 9.59x | $118.02 Million |
| 2019 | 11.34% | 29.62% | 0.04x | 8.52x | $52.40 Million |
| 2020 | 7.71% | 22.28% | 0.04x | 9.54x | $-98.15 Million |
| 2021 | 9.98% | 31.75% | 0.03x | 11.01x | $-921.00K |
| 2022 | 18.46% | 30.80% | 0.04x | 16.86x | $265.45 Million |
| 2023 | 16.09% | 30.09% | 0.04x | 13.68x | $226.33 Million |
| 2024 | 14.94% | 20.44% | 0.05x | 13.47x | $192.68 Million |
Industry Comparison
This section compares Cullen/Frost Bankers Inc's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Cullen/Frost Bankers Inc (CFR) | $4.46 Billion | 1.51% | 10.78x | $8.09 Billion |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |