Cullen/Frost Bankers, Inc. (CFR)

Cullen/Frost Bankers Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	648.56	582.54	597.97	579.15	443.08
Depreciation & Amortization	87.79	82.82	76.44	71.34	69.29
Provision for Credit Losses	44.2	64.99	46.17	3	0.06
Stock-Based Compensation	24.76	19.76	24.59	18.32	12.75
Other Adjustments	14.49	9.67	29.97	82.18	107.9
Changes in Trading Assets	-3.69	-3.64	-2.22	-0.72	-0.56
Changes in Accrued Interest and Accounts Receivable	-7.67	259.14	-232.67	-116.24	-46.56
Changes in Accounts Payable	-559.28	-51	-84.99	61.14	38.82
Changes in Other Operating Activities	24.83	25.26	23.57	24.41	23.5
Operating Cash Flow	273.98	989.53	478.85	722.58	648.29
Operating Cash Flow Growth	-72.31%	106.65%	-33.73%	11.46%	23.66%
Net Change in Loans Held-for-Investment	-1,144	-1,963	-1,686	-821.66	1,146
Net Change in Securities and Investments	-329.41	1,906	898.12	-7,358	-3,615
Payments for Business Acquisitions	-	-0.7	-	-	-
Capital Expenditures	-146.65	-127.78	-158.63	-102.5	-65.85
Sale of Property, Plant & Equipment	0.96	0.03	1.28	0.06	7.04
Other Investing Activities	18.32	4.43	2.52	4.63	3.12
Investing Cash Flow	-1,601	-180.88	-942.75	-8,277	-2,525
Net Change in Deposits	195.12	802.18	-2,034	1,259	7,680
Net Change in Short-Term Interbank Borrowing and Repurchase Agreements	179.71	223.53	-570.9	1,946	649.73
Long-Term Debt Repaid	-	-	-	-	-13.4
Net Long-Term Debt Issued (Repaid)	-	-	-	-	-13.4
Issuance of Common Stock	11.95	22.64	9.3	16.66	54.42
Repurchase of Common Stock	-157.83	-60.9	-42.72	-4.39	-3.86
Net Common Stock Issued (Repurchased)	-145.89	-38.26	-33.42	12.27	50.55
Common Dividends Paid	-255.36	-242.45	-232.32	-209.78	-188.79
Preferred Share Dividends Paid	-6.68	-6.68	-6.68	-6.68	-7.16
Financing Cash Flow	-33.09	738.33	-2,877	3,000	8,171
Net Cash Flow	-1,360	1,547	-3,341	-4,555	6,294
Free Cash Flow	127.33	861.76	320.22	620.08	582.44
Free Cash Flow Growth	-85.22%	169.12%	-48.36%	6.46%	35.82%
FCF Margin	5.81%	43.12%	16.50%	36.62%	42.47%
Free Cash Flow Per Share	1.99	13.41	4.97	9.61	9.09
Levered Free Cash Flow	37.2	760.67	212.81	509.91	441.16
Unlevered Free Cash Flow	-604.68	184.8	-378.49	-62.57	18.64

Updated Jan 29, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q