CFR Pre-Tax Margin | Cullen/Frost Bankers, Inc.

CULLEN/FROST BANKERS, INC. Pre-Tax Margin

Pre-tax margin is the percentage of revenue left as profit after every expense except income tax. It is income before income tax divided by revenue, and the table shows both amounts beside the percentage. It sits between operating margin and net margin: it includes interest and other non-operating items but not the tax charge, so the gap down to net margin is the tax burden. Quarterly and annual points each use the amounts filed for that same period, so a single quarter can swing with the seasons.

CULLEN/FROST BANKERS, INC. pre-tax margin for the quarter ending 2026-06-30 was 35.51%, a 4.06% increase year-over-year.
CULLEN/FROST BANKERS, INC. pre-tax margin for the quarter ending 2026-03-31 was 35.21%, a 6.21% increase year-over-year.
CULLEN/FROST BANKERS, INC. pre-tax margin for the quarter ending 2025-12-31 was 34.08%, a 0.66% decline year-over-year.
CULLEN/FROST BANKERS, INC. pre-tax margin for the quarter ending 2025-09-30 was 36.67%, a 8.40% increase year-over-year.
CULLEN/FROST BANKERS, INC. pre-tax margin for fiscal 2025 was 34.52%, a 2.37% increase from fiscal 2024.
CULLEN/FROST BANKERS, INC. pre-tax margin for fiscal 2024 was 33.72%, a 5.92% decline from fiscal 2023.
CULLEN/FROST BANKERS, INC. pre-tax margin for fiscal 2023 was 35.85%, a 9.09% decline from fiscal 2022.
CULLEN/FROST BANKERS, INC. pre-tax margin for fiscal 2022 was 39.43%, a 10.48% increase from fiscal 2021.

Available history: 2011-12-31 to 2026-06-30
Data captured: 2026-06-30

Historical Pre-Tax Margin

Date	Pre-Tax Margin	Pre-tax income	Revenue
2026-06-30	35.51%	$204.54M	$576.01M
2026-03-31	35.21%	$202.41M	$574.84M
2025-12-31	34.08%	$197.98M	$580.87M
2025-09-30	36.67%	$208.01M	$567.27M
2025-06-30	34.12%	$186.62M	$546.88M
2025-03-31	33.15%	$179.1M	$540.23M
2024-12-31	34.31%	$184.01M	$536.34M
2024-09-30	33.83%	$175.24M	$518.04M
2024-06-30	34.49%	$175.15M	$507.9M
2024-03-31	32.22%	$161.56M	$501.43M
2023-12-31	24.05%	$120.7M	$501.9M
2023-09-30	38.05%	$186.98M	$491.42M
2023-06-30	39.66%	$193.85M	$488.79M
2023-03-31	41.74%	$210.84M	$505.09M
2022-12-31	43.61%	$219.84M	$504.14M
2022-09-30	43.36%	$197.47M	$455.37M
2022-06-30	36.20%	$139.79M	$386.14M
2022-03-31	31.88%	$111.73M	$350.46M
2021-12-31	31.78%	$111.17M	$349.76M
2021-09-30	35.75%	$121.31M	$339.31M
2021-06-30	38.22%	$133.15M	$348.4M
2021-03-31	37.09%	$123.91M	$334.12M
2020-12-31	29.05%	$96.92M	$333.58M
2020-09-30	31.98%	$104.57M	$327.02M
2020-06-30	28.37%	$91.76M	$323.41M
2020-03-31	12.70%	$58.08M	$457.44M
2019-12-31	33.84%	$117.19M	$346.35M
2019-09-30	36.63%	$125.37M	$342.23M
2019-06-30	37.63%	$126.46M	$336.07M
2019-03-31	38.00%	$130.45M	$343.25M
2018-12-31	39.50%	$132.86M	$336.33M
2018-09-30	40.39%	$133M	$329.32M
2018-06-30	38.83%	$125.18M	$322.34M
2018-03-31	36.63%	$117.64M	$321.19M
2017-12-31	34.91%	$109.61M	$313.99M
2017-09-30	34.25%	$103.02M	$300.83M
2017-06-30	33.59%	$99.39M	$295.87M
2017-03-31	32.97%	$96.34M	$292.21M
2016-12-31	31.27%	$92.25M	$295.04M
2016-09-30	32.92%	$91.07M	$276.62M
2016-06-30	29.75%	$79.89M	$268.52M
2016-03-31	27.36%	$78.21M	$285.87M
2015-12-31	22.98%	$61.9M	$269.29M
2015-09-30	32.54%	$87.98M	$270.36M
2015-06-30	32.73%	$85.68M	$261.79M
2015-03-31	31.92%	$84.25M	$263.92M
2014-12-31	33.72%	$88.23M	$261.63M
2014-09-30	36.46%	$94.26M	$258.5M
2014-06-30	32.21%	$80.25M	$249.12M
2014-03-31	30.81%	$73.28M	$237.83M
2013-12-31	32.53%	$77.33M	$237.75M
2013-09-30	31.57%	$72.41M	$229.34M
2013-06-30	32.06%	$72.36M	$225.69M
2013-03-31	29.83%	$68.78M	$230.59M
2012-12-31	34.78%	$80.1M	$230.29M
2012-09-30	34.01%	$75.74M	$222.69M
2012-06-30	33.83%	$74.09M	$218.98M

Annual Pre-Tax Margin

Date	Pre-Tax Margin	Pre-tax income	Revenue
2025-12-31	34.52%	$771.7M	$2.24B
2024-12-31	33.72%	$695.97M	$2.06B
2023-12-31	35.85%	$712.37M	$1.99B
2022-12-31	39.43%	$668.83M	$1.7B
2021-12-31	35.69%	$489.54M	$1.37B
2020-12-31	24.37%	$351.32M	$1.44B
2019-12-31	36.51%	$499.47M	$1.37B
2018-12-31	38.85%	$508.68M	$1.31B
2017-12-31	33.95%	$408.36M	$1.2B
2016-12-31	30.32%	$341.41M	$1.13B
2015-12-31	30.02%	$319.8M	$1.07B
2014-12-31	33.37%	$336.02M	$1.01B
2013-12-31	31.50%	$290.88M	$923.37M
2012-12-31	34.52%	$308.48M	$893.65M
2011-12-31	32.83%	$286.24M	$871.78M

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