Cullen/Frost BankersXTER:CFZ +0.76%20 EV-to-FCF is 3.74 as of Jun. 25, 2026, which is 250% above its 10-year median of 1.07. GuruFocus rates XTER:CFZ with a GF Score™ of 20/100 and a GF Value™ of €119.85 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,191 Banks companies, Cullen/Frost Bankers ranks better than 60.79% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Cullen/Frost Bankers's Enterprise Value is €2,477 Mil.
Cullen/Frost Bankers's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €663 Mil. Therefore, Cullen/Frost Bankers's EV-to-FCF for today is 3.74.
The historical rank and industry rank for Cullen/Frost Bankers's EV-to-FCF or its related term are showing as below:
XTER:CFZ'
s EV-to-FCF Range Over the Past 10 Years
Min: -14.57 Med: 1.07 Max: 45.86
Current: 3.99
During the past 13 years, the highest EV-to-FCF of Cullen/Frost Bankers was 45.86. The lowest was -14.57. And the median was 1.07.
XTER:CFZ's EV-to-FCF is ranked better than 60.79% of 1191
companies
in the Banks industry
Industry Median: 6.56
vs XTER:CFZ: 3.99
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Cullen/Frost Bankers's PE Ratio (TTM) for today is calculated as:
Cullen/Frost Bankers's share price for today is €133.00.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cullen/Frost Bankers's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was €0.000.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Cullen/Frost Bankers EV-to-FCF Related Terms
Cullen/Frost Bankers EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Cullen/Frost Bankers's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Banks - Regional subindustry, Cullen/Frost Bankers's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cullen/Frost Bankers EV-to-FCF vs Banks Industry
For the Banks industry and Financial Services sector, Cullen/Frost Bankers's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Cullen/Frost Bankers's EV-to-FCF falls into.
Cullen/Frost Bankers's current Enterprise Value is €2,477 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cullen/Frost Bankers's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €663 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Cullen/Frost Bankers (XTER:CFZ) has a EV-to-FCF of 3.74 as of Jun. 25, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Cullen/Frost Bankers and its competitors. This is 250% above median its historical median of 1.07. According to the industry distribution chart, Cullen/Frost Bankers ranks #467 out of 1191 companies in the Banks industry, placing it in the top 39.2%.
Is Cullen/Frost Bankers' EV-to-FCF too high?
Cullen/Frost Bankers' current EV-to-FCF of 3.74 is 250% above median its 10-year median of 1.07. The Banks industry median EV-to-FCF is 6.56. Cullen/Frost Bankers' value of 3.74 is 43% below this industry median. Based on the distribution chart, Cullen/Frost Bankers ranks #467 out of 1191 companies in the Banks industry, which is above the industry midpoint. Overall, Cullen/Frost Bankers has a GF Score™ of 20/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cullen/Frost Bankers' EV-to-FCF compare to ?
According to the Banks industry distribution chart, Cullen/Frost Bankers ranks #467 out of 1191 companies for EV-to-FCF. This puts Cullen/Frost Bankers in the upper half of its industry. The industry median EV-to-FCF is 6.56. Cullen/Frost Bankers' value of 3.74 is 43% below this benchmark. While the company's 10-year median is 1.07 vs. the industry median of 6.56, Cullen/Frost Bankers has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Banks company?
The median EV-to-FCF among Banks companies is 6.56, based on 1,191 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cullen/Frost Bankers's current EV-to-FCF of 3.74 is 43% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Cullen/Frost Bankers and its competitors. For the Banks industry, the median EV-to-FCF is 6.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cullen/Frost Bankers's current EV-to-FCF is 3.74, which is 250% above median its own 10-year median of 1.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cullen/Frost Bankers stock overvalued right now?
Based on GuruFocus' analysis, Cullen/Frost Bankers (XTER:CFZ) is currently considered Modestly Overvalued. The stock's GF Value™ is €119.85, compared to a current price of €133.00 — trading 11% above its estimated fair value. The current EV-to-FCF is 3.74, which is 250% above median its 10-year median of 1.07 and 43% below the Banks industry median of 6.56. Cullen/Frost Bankers' overall GF Score™ is 20/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Cullen/Frost Bankers (XTER:CFZ), the current EV-to-FCF is 3.74 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cullen/Frost Bankers (XTER:CFZ) Overvalued in 2026?
Based on GuruFocus' analysis, Cullen/Frost Bankers stock appears to be overvalued.
The current stock price of €133.00 is trading 11% above its estimated GF Value™ of €119.85.
GuruFocus considers Cullen/Frost Bankers to be Modestly Overvalued.
Key valuation signals for XTER:CFZ:
EV-to-FCF: 3.74 (250% above median its 10-year median of 1.07)
GF Value™: €119.85 vs. price of €133.00 (11% above fair value)
Industry Position: 43% below the Banks median (#467 of 1191)
No single metric tells the full story. See the XTER:CFZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cullen/Frost is a regional US bank with around $52 billion in assets (as of March 2026), and it focuses exclusively on the Texas market. The bank has deep expertise in this market. It has implemented a relationship-based banking approach that has garnered a strong market share in San Antonio. Cullen/Frost is also expanding into Houston, Dallas, and Austin market regions through targeted branch openings rather than acquisitions. The bank's sweet spot is small to medium-sized Texas-based commercial clients.
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