CFR Cullen Frost Bankers margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 81

Gross margin

100%

Operating margin

35.7%

EBITDA margin

39.6%

Net margin

30%

Currently, Cullen Frost Bankers has a gross margin of 100%, an operating margin of 35.7%, an EBITDA margin of 39.6%, and a net margin of 30%. The largest improvement was in operating margin, up 0.3 percentage points; the remaining margins held steady.

CFR margin history

Gross, operating, EBITDA and net margin trends

Cullen Frost Bankers's margins averaged 100% gross, 34.9% operating, 38.96% EBITDA, and 29.3% net over the last 3 years. The current figures show operating, EBITDA, and net margins are above their three-year averages.

CFR margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 0.3 percentage points, EBITDA margin by 0.1 percentage points, and net margin by 0.2 percentage points. Gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

0.3pp

EBITDA margin expansion

0.1pp

Net margin expansion

0.2pp

CFR Gross margin

Across the last 3 years, Cullen Frost Bankers's gross margin averaged 100%. Cullen Frost Bankers's current gross margin is 100% and is in line with its three-year average. Gross margin was highest at 100% in Sep 2026 and lowest at 100% in Dec 2023.

CFR Operating margin

Over the last 3 years, Cullen Frost Bankers's operating margin averaged 34.9%. The current operating margin of 35.7% is 0.8 percentage points above its three-year average. During this period, operating margin reached a high of 36.7% in Dec 2023 and a low of 32.2% in Sep 2024.

CFR EBITDA margin

Over the last 3 years, the average EBITDA margin for Cullen Frost Bankers was 38.96%. The latest EBITDA margin for Cullen Frost Bankers is 39.6%, 0.6 percentage points above its three-year average. Cullen Frost Bankers's EBITDA margin ranged from a low of 36.4% in Sep 2024 to a high of 40.6% in Dec 2023.

CFR Net margin

Looking back over the last 3 years, Cullen Frost Bankers recorded an average net margin of 29.3%. Cullen Frost Bankers's current net margin is 30% and is 0.7 percentage points above its three-year average. The highest net margin for Cullen Frost Bankers was 30.8% in Dec 2023, while the lowest was 27% in Sep 2024.

CFR margin group comparison

Margins compared with peer-group, industry and sector averages

Cullen Frost Bankers's gross margin of 100% is above the Financial Services sector and the industry average. Compared to its Financial Services sector average of 83.5%, Cullen Frost Bankers's gross margin is 20% higher.

CFR margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Cullen Frost Bankers's gross margin?

As of Sep 30, 2026, CFR has a gross margin of 100%.

What is Cullen Frost Bankers's operating margin?

For the period ending Sep 30, 2026, CFR recorded an operating margin of 35.7%.

What is Cullen Frost Bankers's EBITDA margin?

For the period ending Sep 30, 2026, CFR recorded an EBITDA margin of 39.6%.

What is Cullen Frost Bankers's net margin?

As of Sep 30, 2026, CFR has a net margin of 30%.

What are the average margins of CFR?

Looking back over 3 years, CFR recorded average margins of 100.0% gross, 34.9% operating, 39.0% EBITDA, and 29.3% net.

What are the highest historical margins of CFR?

Cullen Frost Bankers's highest recorded margins during the past 5 years were 100% gross in Sep 2026, 42.6% operating in Jun 2023, 46.3% EBITDA in Jun 2023, and 36.3% net in Jun 2023.

What are the lowest historical margins of CFR?

Looking back across 5 years, CFR reached its lowest margins at 100% gross in Dec 2021, 32.2% operating in Sep 2024, 36.4% EBITDA in Sep 2024, and 27% net in Sep 2024.