Cullen/Frost Bankers, Inc. (CFR)

Cullen/Frost Bankers Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	689.51	648.56	582.54	597.97	579.15	443.08
Depreciation & Amortization	89.3	87.79	82.82	76.44	71.34	69.29
Gain (Loss) on Sale of Assets	-9.01	-3.03	-0.14	0.75	0.11	-11.58
Gain (Loss) on Sale of Investments	25.37	40.45	45.31	63.83	97.4	119.17
Provision for Credit Losses	39.83	44.2	64.99	46.17	3	0.06
Change in Trading Asset Securities	-9.68	-3.69	-3.64	-2.22	-0.72	-0.56
Accrued Interest Receivable	-188.12	-7.67	259.14	-232.67	-116.24	-46.56
Change in Other Net Operating Assets	26.76	24.83	25.26	23.57	24.41	23.5
Other Operating Activities	-8.8	1.43	-15.35	-17.77	-7.01	5.32
Operating Cash Flow	763.65	273.98	989.53	478.85	722.58	648.29
Operating Cash Flow Growth	384.71%	-72.31%	106.65%	-33.73%	11.46%	23.66%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-185.19	-146.65	-127.78	-158.63	-102.5	-65.85
Sale of Property, Plant and Equipment	9.77	0.96	0.03	1.28	0.06	7.04
Cash Acquisitions	-	-	-0.7	-	-	-
Investment in Securities	-938.27	-329.41	1,906	898.12	-7,358	-3,615
Net Decrease (Increase) in Loans Originated / Sold - Investing	-2,215	-1,144	-1,963	-1,686	-821.66	1,146
Other Investing Activities	4.27	18.32	4.43	2.52	4.63	3.12
Investing Cash Flow	-3,324	-1,601	-180.88	-942.75	-8,277	-2,525

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	179.71	223.53	-	1,946	649.73
Total Debt Issued	541.36	179.71	223.53	-	1,946	649.73
Short-Term Debt Repaid	-	-	-	-570.9	-	-
Long-Term Debt Repaid	-	-	-	-	-	-13.4
Total Debt Repaid	-	-	-	-570.9	-	-13.4
Net Debt Issued (Repaid)	541.36	179.71	223.53	-570.9	1,946	636.32
Issuance of Common Stock	4.07	11.95	22.64	9.3	16.66	54.42
Repurchase of Common Stock	-263.72	-157.83	-60.9	-42.72	-4.39	-3.86
Common Dividends Paid	-257.8	-255.36	-242.45	-232.32	-209.78	-188.79
Preferred Dividends Paid	-6.68	-6.68	-6.68	-6.68	-6.68	-7.16
Total Dividends Paid	-264.48	-262.03	-249.12	-239	-216.46	-195.94
Net Increase (Decrease) in Deposit Accounts	1,705	195.12	802.18	-2,034	1,259	7,680
Financing Cash Flow	1,722	-33.09	738.33	-2,877	3,000	8,171

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Cash Flow	-837.85	-1,360	1,547	-3,341	-4,555	6,294

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	578.46	127.33	861.76	320.22	620.08	582.44
Free Cash Flow Growth	3413.03%	-85.22%	169.12%	-48.36%	6.46%	35.82%
Free Cash Flow Margin	25.20%	5.81%	43.11%	16.50%	36.62%	42.47%
Free Cash Flow Per Share	9.21	1.99	13.41	4.97	9.61	9.09

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	622.54	697.73	788.38	616.27	169.02	29
Cash Income Tax Paid	122.81	112.31	123.9	118.71	100	39.85

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 12, 2026

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