Cullen/Frost Bankers, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.24B | $2.06B | $1.99B | $1.70B | $1.37B | $1.44B | $1.37B | $1.31B |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $771.7M | $696.0M | $1.37B | $853.3M | $513.4M | $396.4M | $629.2M | $602.0M |
| Operating Margin | 34.5% | 33.7% | 69.0% | 50.3% | 37.4% | 27.5% | 46.0% | 46.0% |
| Interest Expense | — | — | $659.1M | $184.4M | $23.9M | $45.0M | $129.8M | $93.3M |
| Pretax Income | $771.7M | $696.0M | $712.4M | $668.8M | $489.5M | $351.3M | $499.5M | $508.7M |
| Income Tax Expense | $123.1M | $113.4M | $114.4M | $89.7M | $46.5M | $20.2M | $55.9M | $53.8M |
| Net Income | $648.6M | $582.5M | $598.0M | $579.2M | $443.1M | $331.2M | $443.6M | $454.9M |
| Net Margin | 29.0% | 28.2% | 30.1% | 34.1% | 32.3% | 23.0% | 32.4% | 34.7% |
| EPS (Basic) | $9.92 | $8.88 | $9.11 | $8.84 | $6.79 | $5.11 | $6.89 | $6.97 |
| EPS (Diluted) | $9.92 | $8.87 | $9.10 | $8.81 | $6.76 | $5.10 | $6.84 | $6.90 |
| Shares Outstanding (Basic) | 64.1M | 64.1M | 64.2M | 64.2M | 63.6M | 62.7M | 62.7M | 63.7M |
| Shares Outstanding (Diluted) | 64.1M | 64.3M | 64.4M | 64.5M | 64.1M | 63.0M | 63.4M | 64.7M |
| Dividends Per Share | $3.95 | $3.74 | $3.58 | $3.24 | $2.94 | $2.85 | $2.80 | $2.58 |