Filing Flows › Cullen/Frost Bankers (CFR) › How it makes money
How Cullen/Frost Bankers (CFR) makes money
Cullen/Frost Bankers (CFR) made $604M of revenue in the third quarter 2026 (Q3 2026), +6% from a year earlier. Of every dollar of revenue, 36¢ was left as operating profit, 30¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $604M | 100.0% |
| Operating profit | $215M | 35.5% |
| Income tax | $34.3M | 5.7% |
| Net earnings | $180M | 29.8% |
| Operating cash flow | $293M | 48.5% |
| Free cash flow | $249M | 41.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $604M | +6% |
| Q2 2026 | $576M | +5% |
| Q1 2026 | $575M | +6% |
| Q4 2025 | $581M | +8% |
| Q3 2025 | $567M | +10% |
| Q2 2025 | $547M | +8% |
| Q1 2025 | $540M | +8% |
From Cullen/Frost Bankers' 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Cullen/Frost Bankers make money?
Cullen/Frost Bankers (CFR) made $604M of revenue in the third quarter 2026 (Q3 2026), +6% from a year earlier. Of every dollar of revenue, 36¢ was left as operating profit, 30¢ was left as net earnings.
What is Cullen/Frost Bankers' profit margin?
Net earnings were $180M, 29.8% of revenue, in the third quarter 2026; the operating margin was 35.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.