Cullen/Frost BankersCFR -0.57%72 Return-on-Tangible-Equity is 15.03% as of Mar. 2026, which is 0% below its 10-year median of 15.09. GuruFocus rates CFR with a GF Score™ of 72/100 and a GF Value™ of $136.49 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,523 Banks companies, Cullen/Frost Bankers ranks better than 75.9% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Cullen/Frost Bankers's annualized net income for the quarter that ended in Mar. 2026 was $684 Mil. Cullen/Frost Bankers's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $4,552 Mil. Therefore, Cullen/Frost Bankers's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 15.03%.
The historical rank and industry rank for Cullen/Frost Bankers's Return-on-Tangible-Equity or its related term are showing as below:
CFR'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 9.61 Med: 15.09 Max: 17.45
Current: 15.28
During the past 13 years, Cullen/Frost Bankers's highest Return-on-Tangible-Equity was 17.45%. The lowest was 9.61%. And the median was 15.09%.
CFR's Return-on-Tangible-Equity is ranked better than 75.9% of 1523
companies
in the Banks industry
Industry Median: 11.2
vs CFR: 15.28
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Cullen/Frost Bankers Return-on-Tangible-Equity Related Terms
Cullen/Frost Bankers Return-on-Tangible-Equity Historical Data
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The historical data trend for Cullen/Frost Bankers's Return-on-Tangible-Equity 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.
CFR vs SSB, ONB, ZION: Return-on-Tangible-Equity Comparison
For the Banks - Regional subindustry, Cullen/Frost Bankers's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Banks Industry
For the Banks industry and Financial Services sector, Cullen/Frost Bankers's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Cullen/Frost Bankers's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 15.03% mean?
Cullen/Frost Bankers (CFR) has a Return-on-Tangible-Equity of 15.03% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Cullen/Frost Bankers and its competitors. This is near median its historical median of 15.09. Over the past decade, Cullen/Frost Bankers' Return-on-Tangible-Equity has ranged from 9.61 to 17.45. According to the industry distribution chart, Cullen/Frost Bankers ranks #367 out of 1523 companies in the Banks industry, placing it in the top 24.1%.
Is Cullen/Frost Bankers' Return-on-Tangible-Equity too high?
Cullen/Frost Bankers' current Return-on-Tangible-Equity of 15.03% is near median its 10-year median of 15.09. Over the past 10 years, this metric has ranged from a low of 9.61 to a high of 17.45. The Banks industry median Return-on-Tangible-Equity is 11.20. Cullen/Frost Bankers' value of 15.03% is 34.2% above this industry median. Based on the distribution chart, Cullen/Frost Bankers ranks #367 out of 1523 companies in the Banks industry, which is in the top quartile — a strong position 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' Return-on-Tangible-Equity compare to SSB and ONB?
According to the Banks industry distribution chart, Cullen/Frost Bankers ranks #367 out of 1523 companies for Return-on-Tangible-Equity. This places Cullen/Frost Bankers in the top 24% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 11.20. Cullen/Frost Bankers' value of 15.03% is 34.2% above this benchmark. Historically, Cullen/Frost Bankers' own Return-on-Tangible-Equity has ranged from 9.61 to 17.45 over the past decade. While the company's 10-year median is 15.09 vs. the industry median of 11.20, Cullen/Frost Bankers has consistently been above 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 Return-on-Tangible-Equity for a Banks company?
The median Return-on-Tangible-Equity among Banks companies is 11.20, based on 1,523 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cullen/Frost Bankers's current Return-on-Tangible-Equity of 15.03% is 34.2% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Cullen/Frost Bankers and its competitors. For the Banks industry, the median Return-on-Tangible-Equity is 11.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cullen/Frost Bankers's current Return-on-Tangible-Equity is 15.03%, which is near median its own 10-year median of 15.09. 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 $136.49, compared to a current price of $154.86 — trading 13.5% above its estimated fair value. The current Return-on-Tangible-Equity is 15.03%, which is near median its 10-year median of 15.09 and 34.2% above the Banks industry median of 11.20. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Cullen/Frost Bankers (CFR), the current Return-on-Tangible-Equity is 15.03% as of Mar. 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 $154.86 is trading 13.5% above its estimated GF Value™ of $136.49.
GuruFocus considers Cullen/Frost Bankers to be Modestly Overvalued.
Key valuation signals for CFR:
Return-on-Tangible-Equity: 15.03% (near median its 10-year median of 15.09)
GF Value™: $136.49 vs. price of $154.86 (13.5% above fair value)
Industry Position: 34.2% above the Banks median (#367 of 1523)
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
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