Cullen/Frost Bankers (NYSE:CFR) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Cullen/Frost Bankers Forward PE Ratio Related Terms
Cullen/Frost Bankers Forward PE Ratio Historical Data
* Premium members only.
The historical data trend for Cullen/Frost Bankers's Forward PE Ratio 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.
Cullen/Frost Bankers Forward PE Ratio Chart
Cullen/Frost Bankers Annual Data
Trend
2015-12
2016-12
2017-12
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
11.88
17.73
16.47
12.12
15.85
20.08
22.32
12.15
13.51
15.82
13.11
Cullen/Frost Bankers Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-06
2017-09
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
11.88
11.55
14.03
15.31
17.73
17.67
17.95
16.53
16.47
16.81
16.10
14.04
12.12
13.66
13.46
13.19
15.85
10.44
20.41
14.93
20.08
19.88
18.52
21.46
22.32
21.74
15.17
13.50
12.15
9.76
11.07
11.88
13.51
13.77
12.21
12.94
15.82
13.86
13.91
13.57
13.11
13.09
CFR vs SSB, ONB, ZION: Forward PE Ratio Comparison
For the Banks - Regional subindustry, Cullen/Frost Bankers's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio 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 Forward PE Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Cullen/Frost Bankers's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Cullen/Frost Bankers's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Cullen/Frost Bankers (CFR) has a Forward PE Ratio of 14.70 as of Jul. 13, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Cullen/Frost Bankers and its competitors. According to the industry distribution chart, Cullen/Frost Bankers ranks #686 out of 817 companies in the Banks industry, placing it in the top 84%.
Is Cullen/Frost Bankers' Forward PE Ratio too high?
Cullen/Frost Bankers' current Forward PE Ratio is 14.70. The Banks industry median Forward PE Ratio is 11.08. Cullen/Frost Bankers' value of 14.70 is 32.7% above this industry median. Based on the distribution chart, Cullen/Frost Bankers ranks #686 out of 817 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Cullen/Frost Bankers has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cullen/Frost Bankers' Forward PE Ratio compare to SSB and ONB?
According to the Banks industry distribution chart, Cullen/Frost Bankers ranks #686 out of 817 companies for Forward PE Ratio. This places Cullen/Frost Bankers in the lower half of its industry. The industry median Forward PE Ratio is 11.08. Cullen/Frost Bankers' value of 14.70 is 32.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Banks company?
The median Forward PE Ratio among Banks companies is 11.08, based on 817 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cullen/Frost Bankers's current Forward PE Ratio of 14.70 is 32.7% above 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Cullen/Frost Bankers and its competitors. For the Banks industry, the median Forward PE Ratio is 11.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cullen/Frost Bankers's current Forward PE Ratio is 14.70. 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 (CFR) is currently considered Modestly Overvalued. The stock's GF Value™ is $136.87, compared to a current price of $156.86 — trading 14.6% above its estimated fair value. The current Forward PE Ratio is 14.70 and 32.7% above the Banks industry median of 11.08. Cullen/Frost Bankers' overall GF Score™ is 72/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Cullen/Frost Bankers (CFR), the current Forward PE Ratio is 14.70 as of Jul. 13, 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 (CFR) Overvalued in 2026?
Based on GuruFocus' analysis, Cullen/Frost Bankers stock appears to be overvalued.
The current stock price of $156.86 is trading 14.6% above its estimated GF Value™ of $136.87.
GuruFocus considers Cullen/Frost Bankers to be Modestly Overvalued.
Key valuation signals for CFR:
Forward PE Ratio: 14.70
GF Value™: $136.87 vs. price of $156.86 (14.6% above fair value)
Industry Position: 32.7% above the Banks median (#686 of 817)
No single metric tells the full story. See the CFR 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.
72GF Score
Get the complete analysis for CFR
Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CFR has been successfully added to your 