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CFR (Cullen/Frost Bankers Inc) Stock Analysis
Buy, Hold or Sell?

Let's analyze Cullen/Frost Bankers Inc together

I guess you are interested in Cullen/Frost Bankers Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

  • 📊 Fundamental Analysis (FA) – Cullen/Frost Bankers Inc’s Financial Insights
  • 📈 Technical Analysis (TA) – Cullen/Frost Bankers Inc’s Price Targets

I'm going to help you getting a better view of Cullen/Frost Bankers Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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1. Quick Overview

1.1. Quick analysis of Cullen/Frost Bankers Inc (30 sec.)










1.2. What can you expect buying and holding a share of Cullen/Frost Bankers Inc? (30 sec.)

How much money do you get?

How much money do you get?
$3.90
When do you have the money?
1 year
How often do you get paid?
100.0%

What is your share worth?

Current worth
$63.95
Expected worth in 1 year
$71.39
How sure are you?
72.5%

+ What do you gain per year?

Total Gains per Share
$11.34
Return On Investment
8.6%

For what price can you sell your share?

Current Price per Share
$132.51
Expected price per share
$129.01 - $143.40
How sure are you?
50%
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2. Detailed Analysis

2.1. Valuation of Cullen/Frost Bankers Inc (5 min.)




Live pricePrice per Share (EOD)
$132.51
Intrinsic Value Per Share
$-430.99 - $-28.48
Total Value Per Share
$-367.04 - $35.47

2.2. Growth of Cullen/Frost Bankers Inc (5 min.)




Is Cullen/Frost Bankers Inc growing?

Current yearPrevious yearGrowGrow %
How rich?$4.1b$3.4b$518m13.1%

How much money is Cullen/Frost Bankers Inc making?

Current yearPrevious yearGrowGrow %
Making money$149.4m$139m$10.4m7.0%
Net Profit Margin20.9%20.7%--

How much money comes from the company's main activities?

2.3. Financial Health of Cullen/Frost Bankers Inc (5 min.)




2.4. Comparing to competitors in the Banks - Regional industry (5 min.)




  Industry Rankings (Banks - Regional)  

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3. Summary and Key Metrics

3.1. What can you expect buying and holding a share of Cullen/Frost Bankers Inc?

Welcome investor! Cullen/Frost Bankers Inc's management wants to use your money to grow the business. In return you get a share of Cullen/Frost Bankers Inc.

First you should know what it really means to hold a share of Cullen/Frost Bankers Inc. And how you can make/lose money.

Speculation

The Price per Share of Cullen/Frost Bankers Inc is $132.51. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Cullen/Frost Bankers Inc.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Cullen/Frost Bankers Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $63.95. Based on the TTM, the Book Value Change Per Share is $1.86 per quarter. Based on the YOY, the Book Value Change Per Share is $0.72 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.98 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Cullen/Frost Bankers Inc.

How much money are you going to get?

 MRQTTMYOY3Y5Y10Y
 $% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share
Usd Eps2.351.8%2.321.8%2.141.6%2.331.8%2.031.5%1.701.3%
Usd Book Value Change Per Share3.312.5%1.861.4%0.720.5%0.450.3%0.220.2%0.470.4%
Usd Dividend Per Share0.980.7%0.980.7%0.940.7%0.930.7%0.850.6%0.740.6%
Usd Total Gains Per Share4.303.2%2.832.1%1.661.2%1.381.0%1.080.8%1.210.9%
Usd Price Per Share125.20-118.24-104.95-115.04-110.51-97.58-
Price to Earnings Ratio13.34-12.70-12.69-12.61-14.15-14.85-
Price-to-Total Gains Ratio29.14-16.11--227.64--70.28--10.11--18.80-
Price to Book Ratio1.96-1.92-1.97-2.13-1.91-1.79-
Price-to-Total Gains Ratio29.14-16.11--227.64--70.28--10.11--18.80-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share132.51
Number of shares7
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.980.85
Usd Book Value Change Per Share1.860.22
Usd Total Gains Per Share2.831.08
Gains per Quarter (7 shares)19.847.53
Gains per Year (7 shares)79.3830.12
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
127526924620
255104148481250
382156227721980
41092083069625110
513726038512031140
616431246414337170
719136454316743200
821941662219150230
924646970121556260
1027352178023962290

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%143.02.00.098.6%
Book Value Change Per Share3.01.00.075.0%6.06.00.050.0%11.09.00.055.0%24.016.00.060.0%112.033.00.077.2%
Dividend per Share4.00.00.0100.0%12.00.00.0100.0%20.00.00.0100.0%40.00.00.0100.0%125.00.020.086.2%
Total Gains per Share3.01.00.075.0%6.06.00.050.0%13.07.00.065.0%29.011.00.072.5%123.022.00.084.8%
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3.2. Key Performance Indicators

The key performance indicators of Cullen/Frost Bankers Inc compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-3Y+/-5 Year+/-10 Year+/-
Book Value Change Per Share--3.3121.859+78%0.715+363%0.448+640%0.222+1395%0.467+609%
Book Value Per Share--63.95561.476+4%53.390+20%54.764+17%58.993+8%55.084+16%
Current Ratio--0.1970.443-56%12.031-98%10.513-98%19.507-99%43.481-100%
Debt To Asset Ratio--0.9210.9230%0.931-1%0.931-1%0.921+0%0.907+2%
Debt To Equity Ratio--11.64011.943-3%13.472-14%13.633-15%12.053-3%10.207+14%
Dividend Per Share--0.9850.976+1%0.941+5%0.929+6%0.854+15%0.740+33%
Enterprise Value---30584225200.000-19217447835.250-37%-18363029947.800-40%-20149373902.889-34%-16686572679.690-45%-12304482341.953-60%
Eps--2.3462.324+1%2.141+10%2.329+1%2.026+16%1.704+38%
Ev To Ebitda Ratio---38.042-24.066-37%-24.795-35%-25.630-33%-24.510-36%-21.468-44%
Ev To Sales Ratio---10.782-6.729-38%-6.833-37%-8.411-22%-8.379-22%-7.278-33%
Free Cash Flow Per Share---5.2400.290-1907%2.518-308%1.480-454%1.754-399%1.754-399%
Free Cash Flow To Equity Per Share---9.3767.308-228%-5.091-46%1.230-862%14.675-164%9.550-198%
Gross Profit Margin--1.0000.552+81%0.882+13%0.794+26%0.840+19%0.876+14%
Intrinsic Value_10Y_max---28.482----------
Intrinsic Value_10Y_min---430.990----------
Intrinsic Value_1Y_max--5.594----------
Intrinsic Value_1Y_min---2.437----------
Intrinsic Value_3Y_max--10.369----------
Intrinsic Value_3Y_min---42.660----------
Intrinsic Value_5Y_max--7.382----------
Intrinsic Value_5Y_min---121.306----------
Market Cap8518789629.000+5%8053990800.0007603512164.750+6%6753147052.200+19%7409489097.111+9%7114369720.310+13%6286138183.048+28%
Net Profit Margin--0.2130.209+2%0.207+3%0.247-14%0.267-20%0.274-22%
Operating Margin--0.2530.249+1%0.240+5%0.286-12%0.301-16%0.309-18%
Operating Ratio--0.7470.7510%0.726+3%0.719+4%0.702+6%0.693+8%
Pb Ratio2.072+6%1.9581.923+2%1.9670%2.130-8%1.914+2%1.787+10%
Pe Ratio14.120+6%13.34112.695+5%12.691+5%12.607+6%14.155-6%14.846-10%
Price Per Share132.510+6%125.200118.235+6%104.950+19%115.038+9%110.510+13%97.584+28%
Price To Free Cash Flow Ratio-6.322-6%-5.97424.307-125%3.000-299%9.478-163%10.475-157%22.310-127%
Price To Total Gains Ratio30.839+6%29.13816.107+81%-227.641+881%-70.277+341%-10.114+135%-18.799+165%
Quick Ratio--0.2270.701-68%24.524-99%20.698-99%28.566-99%63.393-100%
Return On Assets--0.0030.003-1%0.003+3%0.003-2%0.003+8%0.003+3%
Return On Equity--0.0370.038-3%0.041-11%0.044-16%0.036+2%0.032+15%
Total Gains Per Share--4.2972.835+52%1.656+159%1.377+212%1.076+299%1.207+256%
Usd Book Value--4114160000.0003953439750.000+4%3435342250.000+20%3526631250.000+17%3796820150.000+8%3547242125.000+16%
Usd Book Value Change Per Share--3.3121.859+78%0.715+363%0.448+640%0.222+1395%0.467+609%
Usd Book Value Per Share--63.95561.476+4%53.390+20%54.764+17%58.993+8%55.084+16%
Usd Dividend Per Share--0.9850.976+1%0.941+5%0.929+6%0.854+15%0.740+33%
Usd Enterprise Value---30584225200.000-19217447835.250-37%-18363029947.800-40%-20149373902.889-34%-16686572679.690-45%-12304482341.953-60%
Usd Eps--2.3462.324+1%2.141+10%2.329+1%2.026+16%1.704+38%
Usd Free Cash Flow---337064000.00018610500.000-1911%162055500.000-308%95378083.333-453%112953650.000-398%112957375.000-398%
Usd Free Cash Flow Per Share---5.2400.290-1907%2.518-308%1.480-454%1.754-399%1.754-399%
Usd Free Cash Flow To Equity Per Share---9.3767.308-228%-5.091-46%1.230-862%14.675-164%9.550-198%
Usd Market Cap8518789629.000+5%8053990800.0007603512164.750+6%6753147052.200+19%7409489097.111+9%7114369720.310+13%6286138183.048+28%
Usd Price Per Share132.510+6%125.200118.235+6%104.950+19%115.038+9%110.510+13%97.584+28%
Usd Profit--150922000.000149443500.000+1%139002500.000+9%150957083.3330%131503200.000+15%111471100.000+35%
Usd Revenue--709128000.000715496500.000-1%675658000.000+5%635678750.000+12%519444350.000+37%422868675.000+68%
Usd Total Gains Per Share--4.2972.835+52%1.656+159%1.377+212%1.076+299%1.207+256%
 EOD+5 -3MRQTTM+23 -17YOY+25 -153Y+21 -195Y+23 -1710Y+22 -18

3.3 Fundamental Score

Let's check the fundamental score of Cullen/Frost Bankers Inc based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1514.120
Price to Book Ratio (EOD)Between0-12.072
Net Profit Margin (MRQ)Greater than00.213
Operating Margin (MRQ)Greater than00.253
Quick Ratio (MRQ)Greater than10.227
Current Ratio (MRQ)Greater than10.197
Debt to Asset Ratio (MRQ)Less than10.921
Debt to Equity Ratio (MRQ)Less than111.640
Return on Equity (MRQ)Greater than0.150.037
Return on Assets (MRQ)Greater than0.050.003
Total4/10 (40.0%)

3.4 Technical Score

Let's check the technical score of Cullen/Frost Bankers Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5066.204
Ma 20Greater thanMa 50126.968
Ma 50Greater thanMa 100125.204
Ma 100Greater thanMa 200125.632
OpenGreater thanClose127.830
Total2/5 (40.0%)

4. In-depth Analysis

4.1 About Cullen/Frost Bankers Inc

Cullen/Frost Bankers, Inc. operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services. It also provides consumer banking services, such as checking accounts, savings programs, automated-teller machines (ATMs), overdraft facilities, installment and real estate loans, first mortgage loans, home equity loans and lines of credit, drive-in and night deposit services, safe deposit facilities, and brokerage services. In addition, the company offers international banking services comprising deposits, loans, letters of credit, foreign collections, funds transmitting, and foreign exchange services; correspondent banking activities, including check clearing, transfer of funds, fixed income security services, and securities custody and clearance services. Further, it offers trust, investment, agency, and custodial services for individual and corporate clients; capital market services that include sales and trading, new issue underwriting, money market trading, advisory, and securities safekeeping and clearance; and support for international business activities, including foreign exchange, letters of credit, export-import financing, and other related activities. Additionally, the company offers insurance and securities brokerage services; holding of securities for investment purposes; and investment management services for mutual funds, institutions, and individuals. It serves energy, manufacturing, services, construction, retail, telecommunications, healthcare, military, and transportation industries. The company was founded in 1868 and is headquartered in San Antonio, Texas.

Fundamental data was last updated by Penke on 2025-06-21 05:48:06.

4.2 In-depth Summary

4.2.1. Financial Health Summary

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating efficient.
The company is efficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is just able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

4.2.2. Valuation Summary

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is underpriced.
Based on how much money comes from the company's main activities, the company is underpriced.
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4.3 Financial Health

4.3.1. Profitability

4.3.1 Profitability
4.3.1.1. Net Profit Margin

Measures how much net profit Cullen/Frost Bankers Inc earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Cullen/Frost Bankers Inc to the Banks - Regional industry mean.
  • A Net Profit Margin of 21.3% means that $0.21 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Cullen/Frost Bankers Inc:

  • The MRQ is 21.3%. The company is making a huge profit. +2
  • The TTM is 20.9%. The company is making a huge profit. +2
Trends
Current periodCompared to+/- 
MRQ21.3%TTM20.9%+0.4%
TTM20.9%YOY20.7%+0.2%
TTM20.9%5Y26.7%-5.8%
5Y26.7%10Y27.4%-0.8%
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ21.3%41.9%-20.6%
TTM20.9%31.1%-10.2%
YOY20.7%29.6%-8.9%
3Y24.7%29.0%-4.3%
5Y26.7%25.7%+1.0%
10Y27.4%22.1%+5.3%
4.3.1.2. Return on Assets

Shows how efficient Cullen/Frost Bankers Inc is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Cullen/Frost Bankers Inc to the Banks - Regional industry mean.
  • 0.3% Return on Assets means that Cullen/Frost Bankers Inc generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Cullen/Frost Bankers Inc:

  • The MRQ is 0.3%. Using its assets, the company is inefficient in making profit. -1
  • The TTM is 0.3%. Using its assets, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ0.3%TTM0.3%0.0%
TTM0.3%YOY0.3%+0.0%
TTM0.3%5Y0.3%+0.0%
5Y0.3%10Y0.3%0.0%
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ0.3%0.2%+0.1%
TTM0.3%0.2%+0.1%
YOY0.3%0.2%+0.1%
3Y0.3%0.2%+0.1%
5Y0.3%0.2%+0.1%
10Y0.3%0.2%+0.1%
4.3.1.3. Return on Equity

Shows how efficient Cullen/Frost Bankers Inc is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Cullen/Frost Bankers Inc to the Banks - Regional industry mean.
  • 3.7% Return on Equity means Cullen/Frost Bankers Inc generated $0.04 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Cullen/Frost Bankers Inc:

  • The MRQ is 3.7%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 3.8%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ3.7%TTM3.8%-0.1%
TTM3.8%YOY4.1%-0.3%
TTM3.8%5Y3.6%+0.2%
5Y3.6%10Y3.2%+0.4%
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ3.7%2.8%+0.9%
TTM3.8%2.2%+1.6%
YOY4.1%2.6%+1.5%
3Y4.4%2.5%+1.9%
5Y3.6%2.4%+1.2%
10Y3.2%2.6%+0.6%
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4.3.2. Operating Efficiency of Cullen/Frost Bankers Inc.

4.3.2. Operating Efficiency
4.3.2.1. Operating Margin

Measures how efficient Cullen/Frost Bankers Inc is operating .

  • Measures how much profit Cullen/Frost Bankers Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Cullen/Frost Bankers Inc to the Banks - Regional industry mean.
  • An Operating Margin of 25.3% means the company generated $0.25  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Cullen/Frost Bankers Inc:

  • The MRQ is 25.3%. The company is operating very efficient. +2
  • The TTM is 24.9%. The company is operating efficient. +1
Trends
Current periodCompared to+/- 
MRQ25.3%TTM24.9%+0.3%
TTM24.9%YOY24.0%+0.9%
TTM24.9%5Y30.1%-5.2%
5Y30.1%10Y30.9%-0.8%
4.3.2.2. Operating Ratio

Measures how efficient Cullen/Frost Bankers Inc is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Banks - Regional industry mean).
  • An Operation Ratio of 0.75 means that the operating costs are $0.75 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Cullen/Frost Bankers Inc:

  • The MRQ is 0.747. The company is efficient in keeping operating costs low. +1
  • The TTM is 0.751. The company is efficient in keeping operating costs low. +1
Trends
Current periodCompared to+/- 
MRQ0.747TTM0.751-0.003
TTM0.751YOY0.726+0.025
TTM0.7515Y0.702+0.049
5Y0.70210Y0.693+0.009
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4.4.3. Liquidity of Cullen/Frost Bankers Inc.

4.4.3. Liquidity
4.4.3.1. Current Ratio

Measures if Cullen/Frost Bankers Inc is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Banks - Regional industry mean).
  • A Current Ratio of 0.20 means the company has $0.20 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Cullen/Frost Bankers Inc:

  • The MRQ is 0.197. The company is unable to pay all its short-term debts. -2
  • The TTM is 0.443. The company is unable to pay all its short-term debts. -2
Trends
Current periodCompared to+/- 
MRQ0.197TTM0.443-0.246
TTM0.443YOY12.031-11.588
TTM0.4435Y19.507-19.064
5Y19.50710Y43.481-23.974
4.4.3.2. Quick Ratio

Measures if Cullen/Frost Bankers Inc is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Cullen/Frost Bankers Inc to the Banks - Regional industry mean.
  • A Quick Ratio of 0.23 means the company can pay off $0.23 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Cullen/Frost Bankers Inc:

  • The MRQ is 0.227. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.701. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.227TTM0.701-0.473
TTM0.701YOY24.524-23.823
TTM0.7015Y28.566-27.865
5Y28.56610Y63.393-34.827
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4.5.4. Solvency of Cullen/Frost Bankers Inc.

4.5.4. Solvency
4.5.4.1. Debt to Asset Ratio

Measures how much % of Cullen/Frost Bankers Inc assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Cullen/Frost Bankers Inc to Banks - Regional industry mean.
  • A Debt to Asset Ratio of 0.92 means that Cullen/Frost Bankers Inc assets are financed with 92.1% credit (debt) and the remaining percentage (100% - 92.1%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Cullen/Frost Bankers Inc:

  • The MRQ is 0.921. The company is just able to pay all its debts by selling its assets.
  • The TTM is 0.923. The company is just able to pay all its debts by selling its assets.
Trends
Current periodCompared to+/- 
MRQ0.921TTM0.923-0.002
TTM0.923YOY0.931-0.008
TTM0.9235Y0.921+0.002
5Y0.92110Y0.907+0.014
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ0.9210.912+0.009
TTM0.9230.914+0.009
YOY0.9310.331+0.600
3Y0.9310.655+0.276
5Y0.9210.761+0.160
10Y0.9070.845+0.062
4.5.4.2. Debt to Equity Ratio

Measures if Cullen/Frost Bankers Inc is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Cullen/Frost Bankers Inc to the Banks - Regional industry mean.
  • A Debt to Equity ratio of 1,164.0% means that company has $11.64 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Cullen/Frost Bankers Inc:

  • The MRQ is 11.640. The company is unable to pay all its debts with equity. -1
  • The TTM is 11.943. The company is unable to pay all its debts with equity. -1
Trends
Current periodCompared to+/- 
MRQ11.640TTM11.943-0.302
TTM11.943YOY13.472-1.529
TTM11.9435Y12.053-0.111
5Y12.05310Y10.207+1.846
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
MRQ11.64010.416+1.224
TTM11.94310.683+1.260
YOY13.4724.228+9.244
3Y13.6337.922+5.711
5Y12.0539.283+2.770
10Y10.20711.348-1.141
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4.6. Market Valuation

4.6.1. Earnings Per Share
4.6.2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Cullen/Frost Bankers Inc generates.

  • Above 15 is considered overpriced but always compare Cullen/Frost Bankers Inc to the Banks - Regional industry mean.
  • A PE ratio of 13.34 means the investor is paying $13.34 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Cullen/Frost Bankers Inc:

  • The EOD is 14.120. Based on the earnings, the company is underpriced. +1
  • The MRQ is 13.341. Based on the earnings, the company is underpriced. +1
  • The TTM is 12.695. Based on the earnings, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD14.120MRQ13.341+0.779
MRQ13.341TTM12.695+0.646
TTM12.695YOY12.691+0.004
TTM12.6955Y14.155-1.459
5Y14.15510Y14.846-0.691
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
EOD14.1204.154+9.966
MRQ13.3413.875+9.466
TTM12.6956.132+6.563
YOY12.6914.741+7.950
3Y12.6075.925+6.682
5Y14.1558.400+5.755
10Y14.8469.118+5.728
4.6.2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Cullen/Frost Bankers Inc:

  • The EOD is -6.322. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -5.974. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is 24.307. Based on how much money comes from the company's main activities, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD-6.322MRQ-5.974-0.349
MRQ-5.974TTM24.307-30.280
TTM24.307YOY3.000+21.307
TTM24.3075Y10.475+13.832
5Y10.47510Y22.310-11.836
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
EOD-6.3220.360-6.682
MRQ-5.9740.336-6.310
TTM24.3070.632+23.675
YOY3.000-1.072+4.072
3Y9.4782.007+7.471
5Y10.4750.284+10.191
10Y22.3100.095+22.215
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4.6.2. Book Value per Share
4.6.2.1. Price to Book Ratio

Measures if the stock price of Cullen/Frost Bankers Inc is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Banks - Regional industry mean).
  • A PB ratio of 1.96 means the investor is paying $1.96 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Cullen/Frost Bankers Inc:

  • The EOD is 2.072. Based on the equity, the company is underpriced. +1
  • The MRQ is 1.958. Based on the equity, the company is underpriced. +1
  • The TTM is 1.923. Based on the equity, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD2.072MRQ1.958+0.114
MRQ1.958TTM1.923+0.034
TTM1.923YOY1.967-0.044
TTM1.9235Y1.914+0.009
5Y1.91410Y1.787+0.128
Compared to industry (Banks - Regional)
PeriodCompanyIndustry (mean)+/- 
EOD2.0720.463+1.609
MRQ1.9580.432+1.526
TTM1.9230.446+1.477
YOY1.9670.149+1.818
3Y2.1300.355+1.775
5Y1.9140.578+1.336
10Y1.7870.801+0.986
4.6.2. Total Gains per Share

2.4. Latest News of Cullen/Frost Bankers Inc

Does Cullen/Frost Bankers Inc still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Cullen/Frost Bankers Inc to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2025-07-01
19:31
3 Reliable Dividend Stocks Yielding Up To 4.3%Read

4.7 Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Cullen/Frost Bankers Inc.

4.8.1. Institutions holding Cullen/Frost Bankers Inc

Institutions are holding 84.855% of the shares of Cullen/Frost Bankers Inc.

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2025-03-31Vanguard Group Inc9.81830.01436312000-63303-0.9929
2025-03-31BlackRock Inc9.42440.01596058733-100198-1.6269
2025-03-31Aristotle Capital Management LLC8.80891.41235663087-130982-2.2606
2025-03-31State Street Corp5.40250.01793473170-276541-7.375
2025-03-31Champlain Investment Partners, LLC2.67151.55751717451-952839-35.683
2025-03-31King Luther Capital Management Corp2.24690.83511444476-111657-7.1753
2025-03-31FMR Inc1.97510.01021269781-289967-18.5906
2025-03-31Neuberger Berman Group LLC1.81090.12211164191-399918-25.5684
2025-03-31Geode Capital Management, LLC1.78140.01141145234471474.2936
2025-03-31Bank of America Corp1.75470.01141128037533864.9678
2025-03-31BTIM Corp1.73051.01761112477601875.7196
2025-03-31Dimensional Fund Advisors, Inc.1.64460.03291057294307092.9914
2025-03-31Northern Trust Corp1.63510.01951051168775927.9698
2025-03-31HHG PLC1.30340.057183789911600116.0689
2025-03-31Montrusco Bolton Investments Inc1.29931.3746835314-13578-1.5995
2025-03-31Principal Financial Group Inc1.26250.057811635-10797-1.3128
2025-03-31JPMorgan Chase & Co1.21820.0072783137-50878-6.1004
2025-03-31Vaughan Nelson Scarbrgh & Mccullough LP1.10680.890771152711491019.2603
2025-03-31Morgan Stanley - Brokerage Accounts1.01510.005865261612791924.3796
2025-03-31Manufacturers Life Insurance Co1.0080.0768647996523138.782
Total 58.91817.547337877223-1720494-4.5%

4.9.2. Funds holding Cullen/Frost Bankers Inc

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2025-05-31iShares Core S&P Mid-Cap ETF3.24450.2886208584100
2025-04-30Vanguard Total Stock Mkt Idx Inv2.88340.01261853678258371.4135
2025-03-31Vanguard Windsor™ II Inv2.4530.3381157700000
2025-04-30Vanguard Small Cap Index2.25760.1205145137989540.6208
2025-05-31Champlain Mid Cap Fund, LLC1.65361.459810630967950.0748
2025-04-30Vanguard Institutional Extnd Mkt Idx Tr1.550.113999644376490.7736
2025-04-30Vanguard Small Cap Value Index Inv1.45940.210493823829660.3171
2025-05-31SPDR® S&P Dividend ETF1.20930.4977777437-265-0.0341
2025-03-31Neuberger Berman Genesis Inv1.07680.9501692265-249161-26.4663
2025-03-31Janus Henderson US Opportunistic Alpha0.98741.818863476317800138.9702
2025-03-31Janus Henderson Contrarian D0.98741.827634763430927.2831
2025-04-30Impax Global Opportunities Strategy Comp0.86522.442555624915286237.8946
2025-05-29First Trust SMID Cp Rising Div Achv ETF0.85320.88835484828330.1521
2025-04-30SPDR® S&P MIDCAP 400 ETF Trust0.78910.2804507285-5593-1.0905
2025-03-31Champlain Mid Cap Adv0.75441.5296485000-330000-40.4908
2025-05-31SPDR® S&P Regional Banking ETF0.74421.8978478463-1700-0.354
2025-04-30JHancock Small Cap Core NAV0.6672.24694287815660115.208
2025-05-31Champlain Small Company Fund, LLC0.60961.4166391884-20846-5.0508
2025-04-30JPMorgan Small Cap Equity A0.59221.216738069433020.875
2025-03-31JPM Small Cap Equity-MA0.5871.2136377392-31934-7.8016
Total 26.224320.769916859133-158607-0.9%

5.3. Insider Transactions

Insiders are holding 7.643% of the shares of Cullen/Frost Bankers Inc.

DateOwnerTypeAmountPricePost Transaction AmountLink
2025-05-02Matthew Bradley HensonBUY187016.93
2025-01-31Paul BracherSELL11500139.45
2024-11-19Phillip D GreenSELL14358137.96
2024-11-08Howard L KasanoffSELL4000138.34
2024-11-01Bobby BermanSELL3506126.31
2024-07-31Howard L KasanoffSELL3000119.2
2024-07-26Candace K WolfshohlSELL5000119.65
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5. Financial Statements




5.1. Latest Balance Sheet

Balance Sheet of 2025-03-31. Currency in USD. All numbers in thousands.

Summary
Total Assets52,004,742
Total Liabilities47,890,582
Total Stockholder Equity4,114,160
 As reported
Total Liabilities 47,890,582
Total Stockholder Equity+ 4,114,160
Total Assets = 52,004,742

Assets

Total Assets52,004,742
Total Current Assets9,252,366
Long-term Assets42,752,376
Total Current Assets
Cash And Cash Equivalents 7,843,708
Short-term Investments 1,408,658
Total Current Assets  (as reported)9,252,366
Total Current Assets  (calculated)9,252,366
+/-0
Long-term Assets
Property Plant Equipment 1,272,564
Long Term Investments 19,110,290
Other Assets 33,108,644
Long-term Assets  (as reported)42,752,376
Long-term Assets  (calculated)53,491,498
+/- 10,739,122

Liabilities & Shareholders' Equity

Total Current Liabilities46,883,791
Long-term Liabilities1,006,791
Total Stockholder Equity4,114,160
Total Current Liabilities
Short-term Debt 4,493,120
Other Current Liabilities 42,390,671
Total Current Liabilities  (as reported)46,883,791
Total Current Liabilities  (calculated)46,883,791
+/-0
Long-term Liabilities
Long term Debt 222,886
Long-term Liabilities  (as reported)1,006,791
Long-term Liabilities  (calculated)222,886
+/- 783,905
Total Stockholder Equity
Common Stock644
Retained Earnings 4,031,422
Accumulated Other Comprehensive Income -1,129,211
Other Stockholders Equity 1,065,853
Total Stockholder Equity (as reported)4,114,160
Total Stockholder Equity (calculated)3,968,708
+/- 145,452
Other
Capital Stock146,096
Cash and Short Term Investments 9,252,366
Common Stock Shares Outstanding 64,329
Liabilities and Stockholders Equity 52,004,742
Net Debt -3,127,702
Net Invested Capital 4,191,594
Net Working Capital -37,631,425
Short Long Term Debt Total 4,716,006



5.2. Balance Sheets Structured

Currency in USD. All numbers in thousands.

 Trend2025-03-312024-12-312024-09-302024-06-302024-03-312023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302005-06-302005-03-312004-12-312004-09-302004-06-302004-03-312003-12-312003-09-302003-06-302003-03-312002-12-312002-09-302002-06-302002-03-312001-12-312001-09-302001-06-302001-03-312000-12-312000-09-302000-06-302000-03-311999-12-311999-09-301999-06-301999-03-311998-12-311998-09-301998-06-301998-03-311997-12-311997-09-301997-06-301997-03-311996-12-311996-09-301996-06-301996-03-311995-12-311995-09-301995-06-301995-03-311994-12-311994-09-301994-06-301994-03-311993-12-311993-09-301993-06-301993-03-311992-12-311992-09-301992-06-301992-03-311991-12-311991-09-301991-06-301991-03-311990-12-311990-09-301990-06-301990-03-311989-12-311989-09-301989-06-301989-03-311988-12-311988-09-301988-06-301988-03-311987-12-311987-09-301987-06-301987-03-311986-12-311986-09-301986-06-301986-03-311985-12-311985-09-30
> Total Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,488,400
3,393,500
3,447,800
3,505,000
3,321,500
3,251,900
3,220,100
3,254,700
3,137,900
3,063,400
3,256,500
3,079,000
3,046,400
3,024,800
3,063,500
3,150,900
3,537,300
3,493,600
3,508,200
3,639,000
3,615,800
3,575,300
3,644,000
3,793,700
3,724,400
4,004,700
4,002,800
4,200,200
4,483,000
4,549,900
4,456,600
4,888,400
4,933,200
4,924,400
5,157,500
5,230,600
5,653,800
6,425,400
6,409,000
6,869,600
6,714,400
6,902,400
6,769,700
6,996,700
7,019,364
7,327,930
7,354,813
7,660,372
7,819,922
7,864,486
8,111,806
8,369,584
8,071,759
8,241,909
8,782,398
9,552,318
9,820,632
10,029,782
9,651,783
9,672,114
9,989,821
9,570,376
9,825,208
9,952,787
9,849,192
9,950,973
10,280,229
11,741,437
11,579,169
11,402,813
11,647,414
13,224,189
13,176,389
12,949,390
13,166,681
13,485,014
13,793,929
13,671,253
14,061,484
15,034,142
15,331,194
15,785,000
16,158,225
16,288,038
16,760,980
17,059,879
17,738,126
17,617,092
17,941,644
18,478,386
19,489,642
20,317,245
20,417,181
20,866,226
21,847,541
23,124,069
22,497,721
22,571,514
23,529,760
24,312,939
24,685,085
26,523,439
27,370,633
28,277,775
28,158,982
27,781,593
28,341,352
28,567,118
28,400,086
28,976,249
29,602,912
30,196,319
30,524,705
30,206,314
30,989,972
31,747,880
31,459,232
30,687,214
31,223,402
32,293,000
31,356,000
31,819,000
33,098,000
33,314,000
34,147,305
39,377,553
40,101,000
40,963,000
44,046,787
46,697,673
46,774,000
48,897,000
51,296,051
51,784,888
52,945,569
52,892,000
51,246,000
48,597,200
48,747,000
50,845,038
49,505,424
48,842,693
51,008,093
52,520,259
52,004,742
52,004,74252,520,25951,008,09348,842,69349,505,42450,845,03848,747,00048,597,20051,246,00052,892,00052,945,56951,784,88851,296,05148,897,00046,774,00046,697,67344,046,78740,963,00040,101,00039,377,55334,147,30533,314,00033,098,00031,819,00031,356,00032,293,00031,223,40230,687,21431,459,23231,747,88030,989,97230,206,31430,524,70530,196,31929,602,91228,976,24928,400,08628,567,11828,341,35227,781,59328,158,98228,277,77527,370,63326,523,43924,685,08524,312,93923,529,76022,571,51422,497,72123,124,06921,847,54120,866,22620,417,18120,317,24519,489,64218,478,38617,941,64417,617,09217,738,12617,059,87916,760,98016,288,03816,158,22515,785,00015,331,19415,034,14214,061,48413,671,25313,793,92913,485,01413,166,68112,949,39013,176,38913,224,18911,647,41411,402,81311,579,16911,741,43710,280,2299,950,9739,849,1929,952,7879,825,2089,570,3769,989,8219,672,1149,651,78310,029,7829,820,6329,552,3188,782,3988,241,9098,071,7598,369,5848,111,8067,864,4867,819,9227,660,3727,354,8137,327,9307,019,3646,996,7006,769,7006,902,4006,714,4006,869,6006,409,0006,425,4005,653,8005,230,6005,157,5004,924,4004,933,2004,888,4004,456,6004,549,9004,483,0004,200,2004,002,8004,004,7003,724,4003,793,7003,644,0003,575,3003,615,8003,639,0003,508,2003,493,6003,537,3003,150,9003,063,5003,024,8003,046,4003,079,0003,256,5003,063,4003,137,9003,254,7003,220,1003,251,9003,321,5003,505,0003,447,8003,393,5003,488,40000000000000000
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,075,200
769,700
744,700
847,600
648,000
602,200
636,200
724,800
673,300
587,600
747,900
528,100
614,100
555,100
574,000
675,200
673,500
637,000
689,300
585,100
626,800
482,000
534,300
658,800
557,200
626,100
621,700
788,900
757,300
817,900
719,500
1,094,500
907,100
829,900
1,070,700
1,027,700
1,111,100
1,081,900
893,500
1,047,600
952,700
1,023,300
957,400
1,080,400
916,715
986,787
1,074,903
1,155,565
1,200,948
1,377,739
1,288,837
8,096,563
1,270,574
3,107,382
3,165,448
6,804,967
6,913,917
7,030,572
6,506,215
6,417,214
6,453,639
6,343,532
6,623,992
6,687,564
6,566,863
6,820,695
7,307,205
8,297,166
8,123,499
8,104,746
8,387,565
9,091,604
9,256,700
8,987,843
8,922,995
9,279,975
9,681,862
9,636,797
10,056,440
10,640,255
10,463,202
10,590,284
10,743,385
10,510,298
11,156,565
11,174,010
11,352,967
11,301,964
11,063,521
11,824,517
12,906,495
11,290,222
10,598,243
11,143,037
11,888,304
13,074,725
12,703,367
12,506,558
13,940,628
14,405,032
15,242,008
16,085,262
16,436,018
15,765,646
15,499,923
15,134,993
15,466,885
15,458,580
15,728,023
15,338,296
15,923,956
16,538,330
17,072,501
16,617,630
18,161,863
18,624,692
18,474,935
17,512,497
17,710,643
18,564,571
17,139,561
16,905,101
17,984,023
19,034,154
19,976,201
25,076,212
25,807,781
28,281,530
30,125,282
32,331,624
32,665,400
33,473,372
17,728,825
18,510,040
19,148,033
20,013,100
18,622,031
17,930,100
16,691,743
25,180,997
23,685,745
22,255,747
24,507,767
25,262,308
9,252,366
9,252,36625,262,30824,507,76722,255,74723,685,74525,180,99716,691,74317,930,10018,622,03120,013,10019,148,03318,510,04017,728,82533,473,37232,665,40032,331,62430,125,28228,281,53025,807,78125,076,21219,976,20119,034,15417,984,02316,905,10117,139,56118,564,57117,710,64317,512,49718,474,93518,624,69218,161,86316,617,63017,072,50116,538,33015,923,95615,338,29615,728,02315,458,58015,466,88515,134,99315,499,92315,765,64616,436,01816,085,26215,242,00814,405,03213,940,62812,506,55812,703,36713,074,72511,888,30411,143,03710,598,24311,290,22212,906,49511,824,51711,063,52111,301,96411,352,96711,174,01011,156,56510,510,29810,743,38510,590,28410,463,20210,640,25510,056,4409,636,7979,681,8629,279,9758,922,9958,987,8439,256,7009,091,6048,387,5658,104,7468,123,4998,297,1667,307,2056,820,6956,566,8636,687,5646,623,9926,343,5326,453,6396,417,2146,506,2157,030,5726,913,9176,804,9673,165,4483,107,3821,270,5748,096,5631,288,8371,377,7391,200,9481,155,5651,074,903986,787916,7151,080,400957,4001,023,300952,7001,047,600893,5001,081,9001,111,1001,027,7001,070,700829,900907,1001,094,500719,500817,900757,300788,900621,700626,100557,200658,800534,300482,000626,800585,100689,300637,000673,500675,200574,000555,100614,100528,100747,900587,600673,300724,800636,200602,200648,000847,600744,700769,7001,075,20000000000000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
971,600
673,600
630,200
721,300
515,000
465,000
495,900
591,100
514,100
396,300
605,100
405,100
489,900
449,500
480,600
579,100
520,500
496,700
551,000
585,100
491,500
347,200
403,100
533,400
423,700
489,600
471,100
633,900
592,600
638,900
551,300
924,900
713,300
608,500
878,800
794,200
861,700
815,400
643,000
787,800
682,600
683,200
645,300
767,100
611,564
666,777
690,793
824,033
886,308
979,548
869,609
1,001,152
861,280
1,047,549
1,050,646
1,339,797
1,248,650
1,077,435
1,747,166
1,070,681
898,930
916,461
561,680
549,114
542,843
523,663
564,880
879,453
537,941
567,611
561,276
709,360
613,014
576,602
617,063
842,437
757,804
880,464
948,761
1,152,206
1,128,104
710,923
1,780,176
1,716,189
2,553,497
2,636,750
2,844,246
2,759,675
2,688,669
3,411,510
4,456,534
2,888,290
2,120,682
2,282,749
2,735,724
3,440,531
3,202,138
2,892,082
4,314,788
4,531,877
5,172,858
5,002,837
5,291,855
4,333,331
3,815,147
3,249,504
3,737,213
3,524,606
3,834,346
3,298,381
3,960,521
4,122,703
4,498,881
3,582,623
5,042,261
4,893,080
4,341,206
2,985,778
2,935,622
3,320,762
1,956,687
1,475,692
2,519,852
3,431,807
3,818,860
6,550,668
7,155,180
10,288,078
11,794,266
15,175,392
16,239,943
16,541,022
14,457,083
13,553,035
13,528,898
11,820,455
9,211,924
7,010,111
7,530,433
8,602,626
8,379,867
7,058,109
9,187,724
10,218,683
7,843,708
7,843,70810,218,6839,187,7247,058,1098,379,8678,602,6267,530,4337,010,1119,211,92411,820,45513,528,89813,553,03514,457,08316,541,02216,239,94315,175,39211,794,26610,288,0787,155,1806,550,6683,818,8603,431,8072,519,8521,475,6921,956,6873,320,7622,935,6222,985,7784,341,2064,893,0805,042,2613,582,6234,498,8814,122,7033,960,5213,298,3813,834,3463,524,6063,737,2133,249,5043,815,1474,333,3315,291,8555,002,8375,172,8584,531,8774,314,7882,892,0823,202,1383,440,5312,735,7242,282,7492,120,6822,888,2904,456,5343,411,5102,688,6692,759,6752,844,2462,636,7502,553,4971,716,1891,780,176710,9231,128,1041,152,206948,761880,464757,804842,437617,063576,602613,014709,360561,276567,611537,941879,453564,880523,663542,843549,114561,680916,461898,9301,070,6811,747,1661,077,4351,248,6501,339,7971,050,6461,047,549861,2801,001,152869,609979,548886,308824,033690,793666,777611,564767,100645,300683,200682,600787,800643,000815,400861,700794,200878,800608,500713,300924,900551,300638,900592,600633,900471,100489,600423,700533,400403,100347,200491,500585,100551,000496,700520,500579,100480,600449,500489,900405,100605,100396,300514,100591,100495,900465,000515,000721,300630,200673,600971,60000000000000000
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
218,624
0
0
0
136,080
0
2,069,187
2,121,372
732,811
0
2,679,609
2,833,067
570,318
3,226,627
2,923,649
2,894,089
748,187
2,972,440
2,824,973
2,667,684
1,040,413
2,971,686
2,809,611
2,770,409
736,902
3,116,212
3,159,569
3,446,752
359,973
3,312,373
3,220,479
3,170,655
580,992
4,008,486
4,327,628
4,531,687
1,162,989
4,713,349
4,753,608
5,255,006
5,157,470
5,662,211
5,432,354
5,339,812
2,333,553
8,568,215
8,475,767
8,717,645
6,203,299
5,857,525
6,033,370
5,569,791
5,895,436
5,482,465
6,322,943
6,911,652
8,461,254
8,672,497
8,643,586
8,972,688
9,206,358
9,067,229
10,044,033
10,162,826
10,203,277
10,612,493
10,783,737
10,185,100
10,489,009
10,536,532
10,717,743
11,178,591
11,387,321
12,013,963
12,279,513
12,420,446
11,269,591
10,467,977
10,606,696
10,604,480
10,437,565
10,377,444
10,840,526
11,731,222
13,924,628
16,184,539
16,781,685
17,399,107
18,243,605
17,981,830
17,249,257
16,117,089
16,578,371
15,305,878
15,197,638
15,320,043
15,043,625
1,408,658
1,408,65815,043,62515,320,04315,197,63815,305,87816,578,37116,117,08917,249,25717,981,83018,243,60517,399,10716,781,68516,184,53913,924,62811,731,22210,840,52610,377,44410,437,56510,604,48010,606,69610,467,97711,269,59112,420,44612,279,51312,013,96311,387,32111,178,59110,717,74310,536,53210,489,00910,185,10010,783,73710,612,49310,203,27710,162,82610,044,0339,067,2299,206,3588,972,6888,643,5868,672,4978,461,2546,911,6526,322,9435,482,4655,895,4365,569,7916,033,3705,857,5256,203,2998,717,6458,475,7678,568,2152,333,5535,339,8125,432,3545,662,2115,157,4705,255,0064,753,6084,713,3491,162,9894,531,6874,327,6284,008,486580,9923,170,6553,220,4793,312,373359,9733,446,7523,159,5693,116,212736,9022,770,4092,809,6112,971,6861,040,4132,667,6842,824,9732,972,440748,1872,894,0892,923,6493,226,627570,3182,833,0672,679,6090732,8112,121,3722,069,1870136,080000218,6240000000000000000000000000000000000000000000000000000000000000
       Net Receivables 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
103,600
96,100
114,500
126,300
133,000
137,200
140,300
133,700
159,200
191,300
142,800
123,000
124,200
105,600
93,400
96,100
153,000
140,300
138,300
0
135,300
134,800
131,200
125,400
133,500
136,500
150,600
155,000
164,700
179,000
168,200
169,600
193,800
221,400
191,900
233,500
249,400
266,500
250,500
259,800
270,100
340,100
312,100
313,300
305,151
320,010
384,110
331,532
314,640
398,191
419,228
363,537
409,294
396,055
394,389
304,691
286,657
201,587
208,549
165,785
182,247
218,518
411,442
199,371
224,239
216,806
222,643
276,404
254,618
271,252
268,377
257,978
364,569
320,100
265,706
290,209
362,428
369,592
318,802
547,889
460,570
430,640
434,338
420,943
406,105
457,381
444,534
360,361
333,181
326,602
312,091
363,681
314,942
327,630
293,480
292,346
277,247
326,356
266,856
284,537
266,598
313,316
315,951
341,480
373,118
398,591
288,889
341,194
308,347
362,260
319,968
396,654
332,533
369,548
338,170
400,867
398,546
453,735
431,291
457,718
403,747
450,168
391,536
440,652
518,159
565,677
482,551
584,561
504,864
616,373
638,968
612,502
772,191
985,257
1,083,803
1,077,942
990,797
1,004,208
2,030,818
0
0
0
0
0
0
0000002,030,8181,004,208990,7971,077,9421,083,803985,257772,191612,502638,968616,373504,864584,561482,551565,677518,159440,652391,536450,168403,747457,718431,291453,735398,546400,867338,170369,548332,533396,654319,968362,260308,347341,194288,889398,591373,118341,480315,951313,316266,598284,537266,856326,356277,247292,346293,480327,630314,942363,681312,091326,602333,181360,361444,534457,381406,105420,943434,338430,640460,570547,889318,802369,592362,428290,209265,706320,100364,569257,978268,377271,252254,618276,404222,643216,806224,239199,371411,442218,518182,247165,785208,549201,587286,657304,691394,389396,055409,294363,537419,228398,191314,640331,532384,110320,010305,151313,300312,100340,100270,100259,800250,500266,500249,400233,500191,900221,400193,800169,600168,200179,000164,700155,000150,600136,500133,500125,400131,200134,800135,3000138,300140,300153,00096,10093,400105,600124,200123,000142,800191,300159,200133,700140,300137,200133,000126,300114,50096,100103,60000000000000000
       Other Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,731,874
6,731,874
0
0
5,160,479
5,378,610
5,751,550
4,550,500
5,180,748
5,372,462
5,208,553
5,650,870
5,939,079
5,799,781
6,080,226
6,519,682
7,141,309
7,330,940
7,265,883
7,557,912
8,124,266
8,279,117
8,091,141
8,040,226
8,147,329
8,561,630
8,386,741
8,788,877
8,940,160
8,874,528
9,448,721
8,528,871
8,373,166
8,196,963
8,079,879
8,064,187
8,181,928
8,041,671
8,086,405
8,137,870
8,038,251
8,162,619
8,532,658
8,859,100
3,138,549
3,366,457
3,254,750
3,789,193
3,693,182
4,320,087
4,446,166
3,916,560
2,629,581
2,639,161
2,843,312
2,468,095
2,386,422
2,518,101
1,633,622
1,480,641
1,815,696
1,628,594
1,881,722
2,596,332
2,841,736
3,198,651
3,355,241
3,165,139
3,398,770
2,765,164
2,699,728
2,652,189
3,892,104
5,171,205
7,353,171
7,565,570
6,971,326
7,448,708
5,699,333
4,055,267
2,395,220
14,617,971
13,877,314
13,827,246
12,300,823
9,522,392
7,376,820
7,846,768
8,971,103
8,710,252
7,420,921
9,425,289
0
0
009,425,2897,420,9218,710,2528,971,1037,846,7687,376,8209,522,39212,300,82313,827,24613,877,31414,617,9712,395,2204,055,2675,699,3337,448,7086,971,3267,565,5707,353,1715,171,2053,892,1042,652,1892,699,7282,765,1643,398,7703,165,1393,355,2413,198,6512,841,7362,596,3321,881,7221,628,5941,815,6961,480,6411,633,6222,518,1012,386,4222,468,0952,843,3122,639,1612,629,5813,916,5604,446,1664,320,0873,693,1823,789,1933,254,7503,366,4573,138,5498,859,1008,532,6588,162,6198,038,2518,137,8708,086,4058,041,6718,181,9288,064,1878,079,8798,196,9638,373,1668,528,8719,448,7218,874,5288,940,1608,788,8778,386,7418,561,6308,147,3298,040,2268,091,1418,279,1178,124,2667,557,9127,265,8837,330,9407,141,3096,519,6826,080,2265,799,7815,939,0795,650,8705,208,5535,372,4625,180,7484,550,5005,751,5505,378,6105,160,479006,731,8746,731,87400000000000000000000000000000000000000000000000000000000000000000
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,020,500
1,276,200
1,405,500
1,329,100
1,377,000
1,367,800
1,344,500
1,307,400
1,310,500
1,375,200
1,459,600
1,519,900
1,437,600
1,494,700
1,513,100
1,496,400
1,719,500
1,706,600
1,370,600
1,698,600
1,733,700
1,794,000
1,770,100
1,682,700
1,646,200
1,664,900
1,650,400
1,626,000
1,734,900
1,659,500
1,590,300
1,578,000
1,651,600
1,622,500
1,579,400
1,601,300
1,736,900
1,947,200
2,031,100
2,229,000
2,010,600
1,964,400
1,805,700
1,773,000
1,765,408
1,839,034
1,622,232
1,818,377
1,853,231
1,864,437
2,058,076
273,021
2,212,243
173,734
172,154
2,747,351
2,906,715
2,999,210
3,145,568
3,254,900
3,536,182
3,226,844
3,201,216
3,265,223
3,282,329
3,130,278
2,973,024
3,444,271
3,455,670
3,298,067
3,259,849
4,132,585
3,919,689
3,961,547
4,243,686
4,205,039
4,112,067
4,034,456
4,005,044
4,393,887
4,867,992
5,194,528
5,414,840
5,777,740
5,604,415
5,885,869
6,385,159
6,315,128
6,878,123
6,653,869
6,583,147
9,027,023
9,818,938
9,723,189
9,959,237
10,049,344
9,794,354
10,064,956
9,589,132
9,907,907
9,443,077
10,438,177
10,934,615
12,512,129
12,659,059
12,646,600
12,874,467
13,108,538
12,672,063
13,637,953
13,678,956
13,657,989
13,452,204
13,588,684
12,828,109
13,123,188
12,984,297
13,174,717
13,512,759
13,728,395
14,525,005
14,913,762
15,114,153
14,993,274
14,171,104
14,301,341
14,293,459
14,109,787
13,921,505
14,366,049
15,194,925
17,405,118
655,672
1,702,036
1,724,187
1,758,033
1,785,836
1,809,395
1,166,544
21,419,549
25,819,679
26,586,946
26,500,326
27,257,951
42,752,376
42,752,37627,257,95126,500,32626,586,94625,819,67921,419,5491,166,5441,809,3951,785,8361,758,0331,724,1871,702,036655,67217,405,11815,194,92514,366,04913,921,50514,109,78714,293,45914,301,34114,171,10414,993,27415,114,15314,913,76214,525,00513,728,39513,512,75913,174,71712,984,29713,123,18812,828,10913,588,68413,452,20413,657,98913,678,95613,637,95312,672,06313,108,53812,874,46712,646,60012,659,05912,512,12910,934,61510,438,1779,443,0779,907,9079,589,13210,064,9569,794,35410,049,3449,959,2379,723,1899,818,9389,027,0236,583,1476,653,8696,878,1236,315,1286,385,1595,885,8695,604,4155,777,7405,414,8405,194,5284,867,9924,393,8874,005,0444,034,4564,112,0674,205,0394,243,6863,961,5473,919,6894,132,5853,259,8493,298,0673,455,6703,444,2712,973,0243,130,2783,282,3293,265,2233,201,2163,226,8443,536,1823,254,9003,145,5682,999,2102,906,7152,747,351172,154173,7342,212,243273,0212,058,0761,864,4371,853,2311,818,3771,622,2321,839,0341,765,4081,773,0001,805,7001,964,4002,010,6002,229,0002,031,1001,947,2001,736,9001,601,3001,579,4001,622,5001,651,6001,578,0001,590,3001,659,5001,734,9001,626,0001,650,4001,664,9001,646,2001,682,7001,770,1001,794,0001,733,7001,698,6001,370,6001,706,6001,719,5001,496,4001,513,1001,494,7001,437,6001,519,9001,459,6001,375,2001,310,5001,307,4001,344,5001,367,8001,377,0001,329,1001,405,5001,276,2001,020,50000000000000000
       Property Plant Equipment 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
65,800
65,400
67,500
71,900
72,600
71,900
71,000
70,400
70,600
80,800
81,500
80,500
79,800
80,800
80,600
82,400
83,200
89,200
89,300
86,700
87,300
90,200
89,700
88,700
86,800
91,900
90,700
89,500
99,900
101,100
101,800
101,600
106,000
107,700
108,400
109,700
116,300
133,800
136,600
137,300
135,800
143,300
144,000
143,000
145,067
146,591
146,454
149,893
150,306
149,853
148,968
148,871
144,856
173,734
172,154
169,927
167,933
166,540
165,564
168,611
169,403
167,715
167,001
170,026
173,712
173,475
175,012
182,356
196,287
201,760
202,717
219,533
217,315
219,636
217,332
219,615
221,533
238,401
248,419
267,025
285,751
295,767
313,271
324,098
322,721
318,921
315,259
316,909
313,233
316,165
321,517
319,042
321,681
319,904
317,197
315,934
303,321
306,069
306,638
313,331
320,701
369,158
397,429
442,888
487,490
525,692
540,388
559,124
556,988
564,199
564,372
525,821
521,092
520,253
520,639
520,958
521,202
539,861
541,236
552,330
750,256
915,497
987,503
1,011,947
1,035,881
1,044,261
1,055,064
1,045,578
1,040,572
1,031,853
1,023,170
1,050,331
1,046,410
1,046,495
1,068,749
1,102,695
1,130,594
1,154,235
1,166,544
1,190,033
1,210,897
1,221,043
1,229,221
1,245,377
1,272,564
1,272,5641,245,3771,229,2211,221,0431,210,8971,190,0331,166,5441,154,2351,130,5941,102,6951,068,7491,046,4951,046,4101,050,3311,023,1701,031,8531,040,5721,045,5781,055,0641,044,2611,035,8811,011,947987,503915,497750,256552,330541,236539,861521,202520,958520,639520,253521,092525,821564,372564,199556,988559,124540,388525,692487,490442,888397,429369,158320,701313,331306,638306,069303,321315,934317,197319,904321,681319,042321,517316,165313,233316,909315,259318,921322,721324,098313,271295,767285,751267,025248,419238,401221,533219,615217,332219,636217,315219,533202,717201,760196,287182,356175,012173,475173,712170,026167,001167,715169,403168,611165,564166,540167,933169,927172,154173,734144,856148,871148,968149,853150,306149,893146,454146,591145,067143,000144,000143,300135,800137,300136,600133,800116,300109,700108,400107,700106,000101,600101,800101,10099,90089,50090,70091,90086,80088,70089,70090,20087,30086,70089,30089,20083,20082,40080,60080,80079,80080,50081,50080,80070,60070,40071,00071,90072,60071,90067,50065,40065,80000000000000000
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
97,838
97,838
98,873
98,873
98,873
98,873
98,873
102,367
102,367
102,367
100,404
100,404
168,983
245,061
245,683
246,957
524,117
527,947
528,491
528,491
526,851
526,476
526,476
526,876
526,567
527,197
527,197
527,684
527,684
527,684
527,684
527,684
527,684
527,684
528,072
528,072
528,072
535,560
535,560
535,509
535,509
535,509
535,509
535,509
536,649
536,649
649,020
653,849
653,950
654,668
654,668
654,668
654,668
654,668
654,668
654,668
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
654,952
0
0
0
0
0
0
0
0000000654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,952654,668654,668654,668654,668654,668654,668654,668653,950653,849649,020536,649536,649535,509535,509535,509535,509535,509535,560535,560528,072528,072528,072527,684527,684527,684527,684527,684527,684527,684527,197527,197526,567526,876526,476526,476526,851528,491528,491527,947524,117246,957245,683245,061168,983100,404100,404102,367102,367102,36798,87398,87398,87398,87398,87397,83897,838000000000000000000000000000000000000000000000000000000000000000000000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,289,434
8,262,539
8,309,985
8,356,234
0
0
0
0
12,105,850
12,159,434
12,322,612
12,384,742
12,579,408
12,753,095
13,662,447
13,607,036
13,829,905
13,942,278
14,106,489
13,945,734
14,030,260
13,765,197
13,802,004
13,721,796
14,089,510
13,689,938
13,986,642
14,013,944
14,443,497
14,481,070
14,819,381
14,811,260
15,097,744
15,372,499
15,385,001
15,546,876
16,672,468
15,100,300
17,746,371
17,986,210
17,242,588
17,655,002
12,678,068
13,515,784
30,037,521
32,509,759
33,302,759
34,140,429
35,198,998
35,265,071
20,972,994
19,774,553
20,229,516
18,821,957
18,815,940
18,922,114
18,611,310
19,110,290
19,110,29018,611,31018,922,11418,815,94018,821,95720,229,51619,774,55320,972,99435,265,07135,198,99834,140,42933,302,75932,509,75930,037,52113,515,78412,678,06817,655,00217,242,58817,986,21017,746,37115,100,30016,672,46815,546,87615,385,00115,372,49915,097,74414,811,26014,819,38114,481,07014,443,49714,013,94413,986,64213,689,93814,089,51013,721,79613,802,00413,765,19714,030,26013,945,73414,106,48913,942,27813,829,90513,607,03613,662,44712,753,09512,579,40812,384,74212,322,61212,159,43412,105,85000008,356,2348,309,9858,262,5398,289,43400000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
       Intangible Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
134,000
131,000
138,000
133,000
129,000
0
128,000
124,000
0
0
0
21,330
21,330
18,822
17,410
16,001
14,597
13,310
15,519
14,149
12,778
11,352
10,302
183,886
23,769
22,411
21,117
38,480
36,153
33,966
31,782
31,523
29,910
27,955
26,579
24,266
23,557
21,839
20,933
19,460
18,127
16,828
15,552
14,335
13,215
12,764
11,656
10,604
11,033
10,039
9,066
8,147
7,327
6,539
5,759
6,345
5,656
15,700
13,121
12,125
11,231
10,382
9,566
8,800
8,136
7,517
6,931
6,776
6,318
5,880
5,475
5,073
4,685
4,316
3,980
3,649
3,324
3,019
2,745
2,481
2,224
1,983
1,771
1,563
1,361
1,176
1,019
866
720
589
486
386
290
208
0
0
0
0
0
0
0
00000002082903864865897208661,0191,1761,3611,5631,7711,9832,2242,4812,7453,0193,3243,6493,9804,3164,6855,0735,4755,8806,3186,7766,9317,5178,1368,8009,56610,38211,23112,12513,12115,7005,6566,3455,7596,5397,3278,1479,06610,03911,03310,60411,65612,76413,21514,33515,55216,82818,12719,46020,93321,83923,55724,26626,57927,95529,91031,52331,78233,96636,15338,48021,11722,41123,769183,88610,30211,35212,77814,14915,51913,31014,59716,00117,41018,82221,33021,330000124,000128,0000129,000133,000138,000131,000134,0000000000000000000000000000000000000000000000000000000000000
       Earning Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,876,328
14,758,874
15,722,885
16,530,218
16,101,503
18,641,291
19,257,956
22,167,093
23,490,285
27,346,244
29,131,459
31,726,191
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000031,726,19129,131,45927,346,24423,490,28522,167,09319,257,95618,641,29116,101,50316,530,21815,722,88514,758,87414,876,32800000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
       Other Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,392,700
1,347,600
1,297,600
1,328,300
1,296,500
1,281,900
1,239,400
1,222,500
1,154,100
1,100,600
1,049,000
1,031,000
994,700
975,000
976,400
979,300
1,144,300
1,150,000
1,448,300
1,355,300
1,255,300
1,299,300
1,339,600
1,452,200
1,521,000
1,713,700
1,730,700
1,785,300
1,990,800
2,072,500
2,146,800
2,215,900
2,374,500
2,472,000
2,507,400
2,601,600
2,805,800
3,396,300
3,484,400
3,593,000
3,751,100
3,914,700
4,006,600
4,143,300
4,337,241
4,502,109
4,657,678
4,686,430
4,765,743
4,622,310
4,764,893
2,640,050
4,588,942
4,960,793
5,444,796
12,299,669
12,727,347
13,028,992
12,797,351
12,927,014
13,526,003
12,797,220
13,026,424
13,218,010
13,131,521
13,081,251
13,253,253
15,185,708
15,034,839
14,700,880
14,907,263
17,356,774
17,096,078
16,910,937
17,410,367
17,690,053
17,905,996
17,705,709
18,066,528
19,428,029
20,199,186
188
21,573,065
22,065,778
22,365,395
22,945,748
24,123,285
23,932,220
24,819,767
25,132,255
26,072,789
29,344,268
30,236,119
30,589,415
31,806,778
33,173,413
32,292,075
32,636,470
33,118,892
34,220,846
34,128,162
36,961,616
38,305,248
40,789,904
40,818,041
40,428,193
41,215,819
41,675,656
41,072,149
42,614,202
43,281,868
43,854,308
43,976,909
43,794,998
43,818,081
44,871,068
44,443,529
43,861,931
44,736,161
34
-308,566
137
-176
-713,428
48,318,409
53,678,894
-240
-1,428,317
57,968,292
61,063,722
-1,086,325
-1,981,490
32,911,554
31,572,812
32,073,349
31,120,867
30,838,133
28,857,705
30,888,713
4,244,492
32,601,771
0
33,707,655
7,401,264
33,108,644
33,108,6447,401,26433,707,655032,601,7714,244,49230,888,71328,857,70530,838,13331,120,86732,073,34931,572,81232,911,554-1,981,490-1,086,32561,063,72257,968,292-1,428,317-24053,678,89448,318,409-713,428-176137-308,5663444,736,16143,861,93144,443,52944,871,06843,818,08143,794,99843,976,90943,854,30843,281,86842,614,20241,072,14941,675,65641,215,81940,428,19340,818,04140,789,90438,305,24836,961,61634,128,16234,220,84633,118,89232,636,47032,292,07533,173,41331,806,77830,589,41530,236,11929,344,26826,072,78925,132,25524,819,76723,932,22024,123,28522,945,74822,365,39522,065,77821,573,06518820,199,18619,428,02918,066,52817,705,70917,905,99617,690,05317,410,36716,910,93717,096,07817,356,77414,907,26314,700,88015,034,83915,185,70813,253,25313,081,25113,131,52113,218,01013,026,42412,797,22013,526,00312,927,01412,797,35113,028,99212,727,34712,299,6695,444,7964,960,7934,588,9422,640,0504,764,8934,622,3104,765,7434,686,4304,657,6784,502,1094,337,2414,143,3004,006,6003,914,7003,751,1003,593,0003,484,4003,396,3002,805,8002,601,6002,507,4002,472,0002,374,5002,215,9002,146,8002,072,5001,990,8001,785,3001,730,7001,713,7001,521,0001,452,2001,339,6001,299,3001,255,3001,355,3001,448,3001,150,0001,144,300979,300976,400975,000994,7001,031,0001,049,0001,100,6001,154,1001,222,5001,239,4001,281,9001,296,5001,328,3001,297,6001,347,6001,392,70000000000000000
> Total Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,312,300
3,215,900
3,268,900
3,325,700
3,141,300
3,070,400
3,047,700
3,081,300
2,963,300
2,891,100
3,083,100
2,902,800
2,866,100
2,838,300
2,868,300
2,944,800
3,304,300
3,249,400
3,251,200
3,365,500
3,339,000
3,294,000
3,355,200
3,498,300
3,414,500
3,683,000
3,673,000
3,859,000
4,136,000
4,202,000
4,095,200
4,509,500
4,451,100
4,429,500
4,760,900
4,723,800
5,137,500
5,942,100
5,903,200
6,356,700
6,190,600
6,392,400
6,252,300
6,487,400
6,508,251
6,803,360
6,807,637
7,087,346
7,227,455
7,252,049
7,479,072
7,774,665
7,467,526
7,594,062
8,095,777
8,848,528
9,102,363
9,279,968
8,891,500
8,902,110
9,210,144
8,828,101
8,999,000
9,130,392
9,041,212
9,071,797
9,383,476
10,759,201
10,568,431
10,374,757
10,525,993
11,847,306
11,758,559
11,591,417
11,779,960
12,007,926
12,216,730
12,128,798
12,450,624
13,270,615
13,527,895
13,988,000
14,252,339
14,393,614
14,811,740
15,019,028
15,621,989
15,555,412
15,844,293
16,301,741
17,242,766
18,033,708
18,096,468
18,503,615
19,428,924
20,706,587
20,054,390
20,143,676
21,048,592
21,798,778
22,119,166
23,752,765
24,552,781
25,426,372
25,248,051
24,909,926
25,436,379
25,676,775
25,407,846
25,839,581
26,441,116
27,193,791
27,427,327
26,982,385
27,800,929
28,450,017
28,215,802
27,377,702
27,915,156
28,924,000
27,762,000
28,078,000
29,217,000
29,402,000
30,320,639
35,368,752
36,016,000
36,670,000
39,778,869
42,323,856
42,402,000
44,457,000
47,519,759
48,437,913
50,133,097
49,755,000
47,778,000
45,210,458
45,747,000
47,128,591
45,867,244
45,176,888
46,872,887
48,621,671
47,890,582
47,890,58248,621,67146,872,88745,176,88845,867,24447,128,59145,747,00045,210,45847,778,00049,755,00050,133,09748,437,91347,519,75944,457,00042,402,00042,323,85639,778,86936,670,00036,016,00035,368,75230,320,63929,402,00029,217,00028,078,00027,762,00028,924,00027,915,15627,377,70228,215,80228,450,01727,800,92926,982,38527,427,32727,193,79126,441,11625,839,58125,407,84625,676,77525,436,37924,909,92625,248,05125,426,37224,552,78123,752,76522,119,16621,798,77821,048,59220,143,67620,054,39020,706,58719,428,92418,503,61518,096,46818,033,70817,242,76616,301,74115,844,29315,555,41215,621,98915,019,02814,811,74014,393,61414,252,33913,988,00013,527,89513,270,61512,450,62412,128,79812,216,73012,007,92611,779,96011,591,41711,758,55911,847,30610,525,99310,374,75710,568,43110,759,2019,383,4769,071,7979,041,2129,130,3928,999,0008,828,1019,210,1448,902,1108,891,5009,279,9689,102,3638,848,5288,095,7777,594,0627,467,5267,774,6657,479,0727,252,0497,227,4557,087,3466,807,6376,803,3606,508,2516,487,4006,252,3006,392,4006,190,6006,356,7005,903,2005,942,1005,137,5004,723,8004,760,9004,429,5004,451,1004,509,5004,095,2004,202,0004,136,0003,859,0003,673,0003,683,0003,414,5003,498,3003,355,2003,294,0003,339,0003,365,5003,251,2003,249,4003,304,3002,944,8002,868,3002,838,3002,866,1002,902,8003,083,1002,891,1002,963,3003,081,3003,047,7003,070,4003,141,3003,325,7003,268,9003,215,9003,312,30000000000000000
   > Total Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
62,100
69,800
71,900
45,300
38,000
43,700
39,700
46,800
36,600
37,700
32,200
34,000
32,000
27,900
34,100
39,600
48,200
41,700
45,000
49,600
3,339,000
3,294,000
3,355,000
3,498,000
3,414,000
3,683,000
3,673,000
3,859,000
4,136,000
4,202,000
4,095,000
4,509,000
4,452,000
5,097,000
5,374,000
5,485,000
5,912,000
5,844,000
5,805,000
6,259,000
6,093,000
6,294,000
6,154,000
6,388,000
6,409,000
6,704,000
6,706,000
6,985,000
7,125,000
7,151,000
7,228,000
7,524,000
7,198,000
7,327,000
7,828,000
149,445
167,002
139,430
138,597
155,607
601,558
108,716
305,825
140,695
106,067
106,903
115,019
456,856
126,452
132,946
128,441
166,571
140,287
177,465
390,483
144,858
169,045
148,743
153,290
295,738
237,630
212,060
255,030
462,172
203,897
242,234
287,404
226,640
207,411
249,730
296,904
331,020
326,615
346,744
358,799
424,441
276,670
291,922
258,849
218,027
314,586
386,053
244,098
250,208
257,107
239,293
242,688
202,543
321,002
582,942
293,194
169,107
155,376
209,317
165,059
195,068
271,014
168,890
247,629
172,347
313,973
537,970
697,371
545,690
773,576
865,001
672,720
730,165
694,833
1,110,642
1,412,428
754,326
988,769
905,967
1,241,622
866,257
1,076,351
703,722
784,277
30,160,695
44,790,893
44,117,007
45,757,033
47,087,664
46,883,791
46,883,79147,087,66445,757,03344,117,00744,790,89330,160,695784,277703,7221,076,351866,2571,241,622905,967988,769754,3261,412,4281,110,642694,833730,165672,720865,001773,576545,690697,371537,970313,973172,347247,629168,890271,014195,068165,059209,317155,376169,107293,194582,942321,002202,543242,688239,293257,107250,208244,098386,053314,586218,027258,849291,922276,670424,441358,799346,744326,615331,020296,904249,730207,411226,640287,404242,234203,897462,172255,030212,060237,630295,738153,290148,743169,045144,858390,483177,465140,287166,571128,441132,946126,452456,856115,019106,903106,067140,695305,825108,716601,558155,607138,597139,430167,002149,4457,828,0007,327,0007,198,0007,524,0007,228,0007,151,0007,125,0006,985,0006,706,0006,704,0006,409,0006,388,0006,154,0006,294,0006,093,0006,259,0005,805,0005,844,0005,912,0005,485,0005,374,0005,097,0004,452,0004,509,0004,095,0004,202,0004,136,0003,859,0003,673,0003,683,0003,414,0003,498,0003,355,0003,294,0003,339,00049,60045,00041,70048,20039,60034,10027,90032,00034,00032,20037,70036,60046,80039,70043,70038,00045,30071,90069,80062,10000000000000000
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
20,900
24,000
21,400
5,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
149,984
149,411
149,445
167,002
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
256,562
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,117,433
0
0
0
1,183,537
0
733,160
804,302
1,249,073
895,200
1,191,899
1,254,085
1,416,880
1,312,232
1,270,371
0
0
0
0
0
0
0
0
0
0
0
2,243,589
2,227,229
2,798,946
1,877,818
1,707,885
2,108,939
4,744,314
4,294,894
3,583,395
3,748,195
4,176,100
3,984,407
3,798,867
4,036,412
4,364,916
4,493,120
4,493,1204,364,9164,036,4123,798,8673,984,4074,176,1003,748,1953,583,3954,294,8944,744,3142,108,9391,707,8851,877,8182,798,9462,227,2292,243,589000000000001,270,3711,312,2321,416,8801,254,0851,191,899895,2001,249,073804,302733,16001,183,5370001,117,4330000000000000000000256,56200000000000000000000000000167,002149,445149,411149,98400000000000000000000000000000000000000000000000005,50021,40024,00020,90000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,117,433
0
0
0
1,183,537
0
733,160
804,302
1,249,073
895,200
1,191,899
1,254,085
1,416,880
1,312,232
1,270,371
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0000000000000000000000000001,270,3711,312,2321,416,8801,254,0851,191,899895,2001,249,073804,302733,16001,183,5370001,117,433000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
       Accounts payable 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
41,200
45,800
50,500
39,800
38,000
43,700
39,700
46,800
36,600
37,700
32,200
34,000
32,000
27,900
34,100
39,600
48,200
41,700
45,000
49,600
50,100
47,100
54,200
40,100
66,600
81,100
83,400
101,600
104,300
127,300
95,000
92,700
91,700
101,800
84,400
114,400
102,000
124,600
111,500
107,200
101,200
103,600
74,800
101,565
123,510
304,031
136,758
125,977
138,772
123,468
139,325
120,499
125,132
133,998
140,295
121,642
139,283
139,430
138,597
155,607
601,558
108,716
305,825
140,695
106,067
106,903
115,019
456,856
126,452
132,946
128,441
166,571
140,287
177,465
390,483
144,858
169,045
148,743
153,290
295,738
237,630
212,060
255,030
205,610
203,897
242,234
287,404
226,640
207,411
249,730
296,904
331,020
326,615
346,744
358,799
424,441
276,670
291,922
258,849
218,027
314,586
386,053
244,098
250,208
257,107
239,293
242,688
202,543
321,002
582,942
293,194
169,107
155,376
209,317
165,059
195,068
271,014
168,890
247,629
172,347
313,973
537,970
697,371
545,690
773,576
865,001
672,720
730,165
694,833
1,110,642
1,412,428
754,326
988,769
905,967
1,241,622
866,257
1,076,351
703,722
784,277
0
0
0
0
0
0
000000784,277703,7221,076,351866,2571,241,622905,967988,769754,3261,412,4281,110,642694,833730,165672,720865,001773,576545,690697,371537,970313,973172,347247,629168,890271,014195,068165,059209,317155,376169,107293,194582,942321,002202,543242,688239,293257,107250,208244,098386,053314,586218,027258,849291,922276,670424,441358,799346,744326,615331,020296,904249,730207,411226,640287,404242,234203,897205,610255,030212,060237,630295,738153,290148,743169,045144,858390,483177,465140,287166,571128,441132,946126,452456,856115,019106,903106,067140,695305,825108,716601,558155,607138,597139,430139,283121,642140,295133,998125,132120,499139,325123,468138,772125,977136,758304,031123,510101,56574,800103,600101,200107,200111,500124,600102,000114,40084,400101,80091,70092,70095,000127,300104,300101,60083,40081,10066,60040,10054,20047,10050,10049,60045,00041,70048,20039,60034,10027,90032,00034,00032,20037,70036,60046,80039,70043,70038,00039,80050,50045,80041,20000000000000000
       Other Current Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-62,100
-69,800
-71,900
-45,300
-38,000
-43,700
-39,700
-46,800
-36,600
-37,700
-32,200
-34,000
-32,000
-27,900
-34,100
-39,600
-48,200
-41,700
-45,000
-49,600
-50,100
-47,100
-54,200
3,457,900
-66,600
-81,100
-83,400
-101,600
-104,300
-127,300
-95,000
-92,700
-91,700
-101,800
-84,400
5,370,600
-102,000
-124,600
-111,500
-107,200
-101,200
-103,600
-74,800
6,286,435
-123,510
-304,031
-136,758
6,859,023
-138,772
-123,468
-139,325
-120,499
-125,132
-133,998
-140,295
27,803
-139,283
-139,430
-138,597
-155,607
-601,558
-108,716
-305,825
-140,695
-106,067
-106,903
-115,019
-456,856
-126,452
-132,946
-128,441
-166,571
-140,287
-177,465
-390,483
-144,858
-169,045
-148,743
-153,290
-295,738
-237,630
-212,060
-255,030
-205,610
-203,897
-242,234
-287,404
-226,640
-207,411
-249,730
-296,904
-331,020
-326,615
-346,744
-358,799
-424,441
-276,670
-291,922
-258,849
-218,027
-314,586
-386,053
-244,098
-250,208
-257,107
-239,293
-242,688
-202,543
-321,002
-582,942
-293,194
-169,107
-155,376
-209,317
-165,059
-195,068
-271,014
-168,890
-247,629
-172,347
-313,973
-537,970
-697,371
-545,690
-773,576
-865,001
-672,720
-730,165
-694,833
-2,243,589
-2,227,229
-2,798,946
-1,877,818
-905,967
-1,241,622
-866,257
-1,076,351
-703,722
-784,277
25,984,595
40,806,486
40,318,140
41,720,621
42,722,748
42,390,671
42,390,67142,722,74841,720,62140,318,14040,806,48625,984,595-784,277-703,722-1,076,351-866,257-1,241,622-905,967-1,877,818-2,798,946-2,227,229-2,243,589-694,833-730,165-672,720-865,001-773,576-545,690-697,371-537,970-313,973-172,347-247,629-168,890-271,014-195,068-165,059-209,317-155,376-169,107-293,194-582,942-321,002-202,543-242,688-239,293-257,107-250,208-244,098-386,053-314,586-218,027-258,849-291,922-276,670-424,441-358,799-346,744-326,615-331,020-296,904-249,730-207,411-226,640-287,404-242,234-203,897-205,610-255,030-212,060-237,630-295,738-153,290-148,743-169,045-144,858-390,483-177,465-140,287-166,571-128,441-132,946-126,452-456,856-115,019-106,903-106,067-140,695-305,825-108,716-601,558-155,607-138,597-139,430-139,28327,803-140,295-133,998-125,132-120,499-139,325-123,468-138,7726,859,023-136,758-304,031-123,5106,286,435-74,800-103,600-101,200-107,200-111,500-124,600-102,0005,370,600-84,400-101,800-91,700-92,700-95,000-127,300-104,300-101,600-83,400-81,100-66,6003,457,900-54,200-47,100-50,100-49,600-45,000-41,700-48,200-39,600-34,100-27,900-32,000-34,000-32,200-37,700-36,600-46,800-39,700-43,700-38,000-45,300-71,900-69,800-62,10000000000000000
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,600
18,600
18,600
17,500
17,400
17,400
17,400
16,300
16,300
16,200
16,200
14,700
14,700
14,700
14,700
13,400
3,400
6,400
3,400
0
0
0
0
0
0
0
0
0
0
0
0
0
98,000
98,000
98,000
98,000
111,000
98,000
98,000
98,000
98,000
98,000
98,000
99,000
99,000
99,000
102,000
102,000
102,000
101,000
251,000
251,000
270,000
270,000
270,000
248,123
261,498
260,422
259,721
255,845
377,889
377,819
377,749
377,677
377,604
377,563
377,483
415,422
406,952
402,389
401,325
428,636
422,989
407,935
400,379
400,323
395,173
395,169
392,665
392,661
622,659
622,655
622,650
136,084
392,642
386,138
373,761
373,757
373,752
373,748
223,743
223,738
223,734
223,729
223,724
223,719
223,714
223,712
223,712
223,712
223,712
237,115
237,115
237,115
237,115
237,115
237,115
237,115
235,983
236,028
236,072
236,117
234,587
234,628
234,682
234,736
234,789
234,843
234,896
234,950
235,003
235,056
235,111
235,164
235,218
235,271
235,324
235,378
235,432
235,485
235,539
222,189
988,769
905,967
1,241,622
866,257
1,076,351
222,511
222,564
222,618
1,076,351
1,059,881
1,115,854
1,534,007
1,006,791
1,006,7911,534,0071,115,8541,059,8811,076,351222,618222,564222,5111,076,351866,2571,241,622905,967988,769222,189235,539235,485235,432235,378235,324235,271235,218235,164235,111235,056235,003234,950234,896234,843234,789234,736234,682234,628234,587236,117236,072236,028235,983237,115237,115237,115237,115237,115237,115237,115223,712223,712223,712223,712223,714223,719223,724223,729223,734223,738223,743373,748373,752373,757373,761386,138392,642136,084622,650622,655622,659392,661392,665395,169395,173400,323400,379407,935422,989428,636401,325402,389406,952415,422377,483377,563377,604377,677377,749377,819377,889255,845259,721260,422261,498248,123270,000270,000270,000251,000251,000101,000102,000102,000102,00099,00099,00099,00098,00098,00098,00098,00098,00098,000111,00098,00098,00098,00098,00000000000000003,4006,4003,40013,40014,70014,70014,70014,70016,20016,20016,30016,30017,40017,40017,40017,50018,60018,60018,60000000000000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
373,757
373,752
373,748
223,743
0
0
0
0
223,719
223,714
223,712
223,712
223,712
223,712
237,115
237,115
237,115
237,115
237,115
237,115
237,115
235,983
236,028
236,072
236,117
234,587
234,628
234,682
234,736
234,789
234,843
234,896
234,950
235,003
235,056
235,111
235,164
235,218
235,271
235,324
235,378
235,432
235,485
235,539
222,189
222,243
222,296
222,350
222,404
222,457
222,511
222,564
0
0
0
0
0
0
000000222,564222,511222,457222,404222,350222,296222,243222,189235,539235,485235,432235,378235,324235,271235,218235,164235,111235,056235,003234,950234,896234,843234,789234,736234,682234,628234,587236,117236,072236,028235,983237,115237,115237,115237,115237,115237,115237,115223,712223,712223,712223,712223,714223,7190000223,743373,748373,752373,75700000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
123,510
304,031
136,758
125,977
138,772
123,468
139,325
120,499
125,132
133,998
140,295
161,044
139,283
139,430
138,597
155,607
601,558
108,716
305,825
140,695
106,067
106,903
115,019
456,856
126,452
132,946
128,441
166,571
140,287
177,465
390,483
144,858
169,045
148,743
153,290
295,738
237,630
212,060
255,030
205,610
203,897
242,234
287,404
226,640
207,411
249,730
296,904
331,020
326,615
346,744
358,799
424,441
276,670
291,922
258,849
218,027
314,586
386,053
244,098
250,208
257,107
239,293
242,688
202,543
321,002
582,942
293,194
169,107
155,376
209,317
165,059
195,068
271,014
105,177
178,821
119,966
103,435
201,186
320,942
177,702
328,613
438,299
261,905
318,708
252,679
601,322
846,339
299,374
383,907
0
668,699
324,988
0
0
231,205
0
0
0
0
0
0
000000231,20500324,988668,6990383,907299,374846,339601,322252,679318,708261,905438,299328,613177,702320,942201,186103,435119,966178,821105,177271,014195,068165,059209,317155,376169,107293,194582,942321,002202,543242,688239,293257,107250,208244,098386,053314,586218,027258,849291,922276,670424,441358,799346,744326,615331,020296,904249,730207,411226,640287,404242,234203,897205,610255,030212,060237,630295,738153,290148,743169,045144,858390,483177,465140,287166,571128,441132,946126,452456,856115,019106,903106,067140,695305,825108,716601,558155,607138,597139,430139,283161,044140,295133,998125,132120,499139,325123,468138,772125,977136,758304,031123,5100000000000000000000000000000000000000000000000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,350
0
0
0
1,130
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
00000000000000000000000000000000000001,1300001,350000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
> Total Stockholder Equity
0
0
0
0
0
0
0
0
0
0
0
0
0
0
176,100
177,600
178,900
179,300
180,200
181,500
172,400
173,400
174,600
172,300
173,400
176,200
180,300
186,500
195,200
206,100
233,000
244,200
257,000
273,500
277,000
281,400
288,800
295,400
309,900
321,700
330,200
341,500
347,200
347,900
361,400
378,900
383,700
396,500
396,600
408,400
417,900
483,300
505,800
512,900
523,800
510,000
517,400
509,300
511,113
524,570
547,176
573,026
592,467
612,437
632,734
594,919
604,233
647,847
686,621
703,790
718,269
749,814
760,283
770,004
779,677
742,275
826,208
822,395
807,980
879,176
896,753
982,236
1,010,738
1,028,056
1,121,421
1,376,883
1,417,830
1,357,973
1,386,721
1,477,088
1,577,199
1,542,455
1,610,860
1,763,527
1,803,299
1,797,000
1,905,886
1,894,424
1,949,240
2,040,851
2,116,137
2,061,680
2,097,351
2,176,645
2,246,876
2,283,537
2,320,713
2,362,611
2,418,617
2,417,482
2,443,331
2,427,838
2,481,168
2,514,161
2,565,919
2,770,674
2,817,852
2,851,403
2,910,931
2,871,667
2,904,973
2,890,343
2,992,240
3,136,668
3,161,796
3,002,528
3,097,378
3,223,929
3,189,043
3,297,863
3,243,430
3,309,512
3,308,246
3,369,000
3,594,000
3,741,000
3,881,000
3,912,000
3,826,666
4,008,801
4,085,000
4,293,000
4,267,918
4,373,817
4,372,000
4,440,000
3,776,292
3,346,975
2,812,472
3,137,000
3,468,000
3,386,742
3,000,000
3,716,447
3,638,180
3,665,805
4,135,206
3,898,588
4,114,160
4,114,1603,898,5884,135,2063,665,8053,638,1803,716,4473,000,0003,386,7423,468,0003,137,0002,812,4723,346,9753,776,2924,440,0004,372,0004,373,8174,267,9184,293,0004,085,0004,008,8013,826,6663,912,0003,881,0003,741,0003,594,0003,369,0003,308,2463,309,5123,243,4303,297,8633,189,0433,223,9293,097,3783,002,5283,161,7963,136,6682,992,2402,890,3432,904,9732,871,6672,910,9312,851,4032,817,8522,770,6742,565,9192,514,1612,481,1682,427,8382,443,3312,417,4822,418,6172,362,6112,320,7132,283,5372,246,8762,176,6452,097,3512,061,6802,116,1372,040,8511,949,2401,894,4241,905,8861,797,0001,803,2991,763,5271,610,8601,542,4551,577,1991,477,0881,386,7211,357,9731,417,8301,376,8831,121,4211,028,0561,010,738982,236896,753879,176807,980822,395826,208742,275779,677770,004760,283749,814718,269703,790686,621647,847604,233594,919632,734612,437592,467573,026547,176524,570511,113509,300517,400510,000523,800512,900505,800483,300417,900408,400396,600396,500383,700378,900361,400347,900347,200341,500330,200321,700309,900295,400288,800281,400277,000273,500257,000244,200233,000206,100195,200186,500180,300176,200173,400172,300174,600173,400172,400181,500180,200179,300178,900177,600176,10000000000000000
   Common Stock
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
500
500
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
536
550
551
555
558
598
600
602
602
602
602
602
602
602
602
602
602
602
605
606
608
611
613
613
613
613
614
614
615
615
616
616
617
617
617
637
637
637
637
637
637
637
637
637
637
637
640
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
642
643
644
644
644
644
644
644
644
644
644
64464464464464464464464464464364264264264264264264264264264264264264264264264264264264264264264264063763763763763763763763763763763761761761761661661561561461461361361361361160860660560260260260260260260260260260260260059855855555155053653653653653653653653653653653653653653653653653653653653653653653650050000000000000000000000000000000000000000000000000000000000
   Retained Earnings Total Equity
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,249,484
1,273,826
1,301,279
1,327,587
0
0
0
0
1,475,851
1,500,085
1,524,638
1,546,101
1,575,282
1,599,337
1,630,799
1,672,527
1,710,324
1,747,958
1,783,222
1,823,045
1,845,188
1,878,985
1,914,022
1,942,561
1,985,569
2,032,097
2,078,898
2,133,259
2,187,069
2,234,301
2,297,099
2,369,259
2,440,002
2,495,268
2,558,296
2,617,500
2,667,534
2,635,588
2,678,686
2,724,681
2,750,723
2,797,064
2,862,966
2,920,074
2,956,966
3,002,642
3,070,109
3,179,964
3,309,671
3,428,991
3,532,542
0
0
0
0
0
0
0
00000003,532,5423,428,9913,309,6713,179,9643,070,1093,002,6422,956,9662,920,0742,862,9662,797,0642,750,7232,724,6812,678,6862,635,5882,667,5342,617,5002,558,2962,495,2682,440,0022,369,2592,297,0992,234,3012,187,0692,133,2592,078,8982,032,0971,985,5691,942,5611,914,0221,878,9851,845,1881,823,0451,783,2221,747,9581,710,3241,672,5271,630,7991,599,3371,575,2821,546,1011,524,6381,500,0851,475,85100001,327,5871,301,2791,273,8261,249,48400000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-1,200
0
0
0
0
8,500
4,700
-3,700
300
7,600
1,800
7,500
9,600
8,700
7,800
8,800
16,600
7,700
700
-28,500
-25,800
-39,100
-42,568
-37,901
-23,322
-4,023
1,961
3,605
21,198
-14,005
-13,680
17,843
37,960
32,548
24,355
30,819
13,460
4,292
18,380
-45,478
1,743
-16,351
-45,957
-15,511
-35,938
-56,617
-75,594
-106,522
-57,409
-54,892
-48,147
-87,455
-58,018
-7,382
64,374
-14,956
17,771
137,294
153,733
122,017
197,061
154,205
164,004
215,764
251,240
154,250
154,818
202,589
244,053
247,734
244,396
253,275
274,723
238,048
214,370
155,602
145,727
140,434
142,748
160,468
155,276
141,814
160,119
82,297
133,916
113,863
179,319
281,357
215,513
-24,623
-5,850
51,310
57,675
79,512
-53,354
-63,319
-141,235
-63,600
93,774
219,438
305,383
267,370
363,815
488,264
505,145
512,970
387,748
412,990
350,283
347,318
-371,790
-874,206
-1,528,925
-1,348,294
-1,142,138
-1,305,027
-1,778,827
-1,119,219
-1,276,283
-1,309,344
-915,433
-1,252,004
-1,129,211
-1,129,211-1,252,004-915,433-1,309,344-1,276,283-1,119,219-1,778,827-1,305,027-1,142,138-1,348,294-1,528,925-874,206-371,790347,318350,283412,990387,748512,970505,145488,264363,815267,370305,383219,43893,774-63,600-141,235-63,319-53,35479,51257,67551,310-5,850-24,623215,513281,357179,319113,863133,91682,297160,119141,814155,276160,468142,748140,434145,727155,602214,370238,048274,723253,275244,396247,734244,053202,589154,818154,250251,240215,764164,004154,205197,061122,017153,733137,29417,771-14,95664,374-7,382-58,018-87,455-48,147-54,892-57,409-106,522-75,594-56,617-35,938-15,511-45,957-16,3511,743-45,47818,3804,29213,46030,81924,35532,54837,96017,843-13,680-14,00521,1983,6051,961-4,023-23,322-37,901-42,568-39,100-25,800-28,5007007,70016,6008,8007,8008,7009,6007,5001,8007,600300-3,7004,7008,5000000-1,200000000000000000000000000000000000000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
657,335
668,237
673,620
676,079
0
0
0
0
702,968
684,141
686,920
719,972
724,197
727,677
879,580
883,121
886,476
889,112
892,563
895,035
897,350
899,870
902,892
905,348
906,732
926,005
948,593
951,893
953,361
956,536
960,121
962,917
967,304
970,958
975,322
977,997
983,250
985,762
989,034
991,477
997,168
999,694
1,002,939
1,004,924
1,009,921
1,012,033
1,015,451
1,018,624
1,029,756
1,035,961
1,040,754
1,043,865
0
0
0
0
0
0
0000001,043,8651,040,7541,035,9611,029,7561,018,6241,015,4511,012,0331,009,9211,004,9241,002,939999,694997,168991,477989,034985,762983,250977,997975,322970,958967,304962,917960,121956,536953,361951,893948,593926,005906,732905,348902,892899,870897,350895,035892,563889,112886,476883,121879,580727,677724,197719,972686,920684,141702,9680000676,079673,620668,237657,33500000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
   Treasury Stock0000000-27,623-1,1090-3,285-10,473-12,687-20,744-49,013-51,172-62,682-113,939-136,919-147,825-159,141-151,614-164,551-156,877-111,550-119,917-27,823-29,517-39,181-67,207-98,91200-10,273-46,749-106,726-111,057-111,181-92,146-31,538-31,381-32,334-38,195-45,296-48,946-70,855-75,735-84,424-100,5570000-372-1,456-1,456-1430000-10,841-16,820-31,202-43,225-43,594-49,652-60,578-78,080-82,069-94,596-61,51300000-23,692-43,832-58,402-79,125-72,572-64,456-79,202-84,105-61,073-59,892-68,987-72,236-73,589-79,750-80,295-69,914-61,900-56,727-55,876-56,701-59,166-46,980-38,546-30,4730000000000000000000000000000000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
105,500
106,300
106,800
107,500
107,800
108,600
109,300
109,700
110,300
110,900
111,400
112,300
113,000
113,800
115,000
154,100
166,400
166,800
167,600
177,500
173,500
170,200
170,900
169,400
193,400
178,600
180,300
174,400
174,900
175,100
175,300
175,800
176,600
173,600
160,900
166,300
166,300
179,400
181,600
183,400
184,700
185,300
174,600
165,717
155,122
147,630
139,847
124,484
133,148
134,364
134,916
129,956
123,462
114,744
115,773
155,789
124,839
128,461
139,293
139,771
119,817
125,998
144,164
140,338
135,570
159,681
177,357
262,110
292,431
311,316
324,534
548,117
555,427
506,805
477,825
491,730
501,966
524,492
539,358
545,471
548,934
564,874
583,164
589,514
613,989
628,227
640,398
657,335
668,094
672,164
674,623
928,165
688,150
692,625
698,038
941,016
583,584
602,496
644,237
653,342
678,731
834,284
844,926
854,142
857,731
861,025
802,889
786,169
788,813
796,166
858,599
896,459
926,005
948,593
852,981
886,154
917,355
930,604
935,094
847,387
859,408
818,445
813,446
831,636
826,621
841,209
854,558
883,229
937,012
951,767
955,549
989,622
999,346
1,004,978
1,015,339
1,029,528
1,035,051
1,013,131
1,005,932
1,031,882
1,041,808
1,019,045
1,015,156
1,053,014
1,065,853
1,065,8531,053,0141,015,1561,019,0451,041,8081,031,8821,005,9321,013,1311,035,0511,029,5281,015,3391,004,978999,346989,622955,549951,767937,012883,229854,558841,209826,621831,636813,446818,445859,408847,387935,094930,604917,355886,154852,981948,593926,005896,459858,599796,166788,813786,169802,889861,025857,731854,142844,926834,284678,731653,342644,237602,496583,584941,016698,038692,625688,150928,165674,623672,164668,094657,335640,398628,227613,989589,514583,164564,874548,934545,471539,358524,492501,966491,730477,825506,805555,427548,117324,534311,316292,431262,110177,357159,681135,570140,338144,164125,998119,817139,771139,293128,461124,839155,789115,773114,744123,462129,956134,916134,364133,148124,484139,847147,630155,122165,717174,600185,300184,700183,400181,600179,400166,300166,300160,900173,600176,600175,800175,300175,100174,900174,400180,300178,600193,400169,400170,900170,200173,500177,500167,600166,800166,400154,100115,000113,800113,000112,300111,400110,900110,300109,700109,300108,600107,800107,500106,800106,300105,50000000000000000



5.3. Balance Sheets

Currency in USD. All numbers in thousands.




5.4. Cash Flows

Currency in USD. All numbers in thousands.




5.5. Income Statements

Currency in USD. All numbers in thousands.


5.6. Latest Income Statement

Income Statement (annual), 2024-12-31. Currency in USD. All numbers in thousands.

Gross Profit (+$)
totalRevenue2,849,735
Cost of Revenue-851,010
Gross Profit1,998,7251,998,725
 
Operating Income (+$)
Gross Profit1,998,725
Operating Expense-1,302,758
Operating Income695,967695,967
 
Operating Expense (+$)
Research Development0
Selling General Administrative781,109
Selling And Marketing Expenses51,403
Operating Expense1,302,758832,512
 
Net Interest Income (+$)
Interest Income2,390,637
Interest Expense-786,025
Other Finance Cost-0
Net Interest Income1,604,612
 
Pretax Income (+$)
Operating Income695,967
Net Interest Income1,604,612
Other Non-Operating Income Expenses0
Income Before Tax (EBT)695,967-1,564,809
EBIT - interestExpense = -90,058
695,967
1,368,567
Interest Expense786,025
Earnings Before Interest and Taxes (EBIT)695,9671,481,992
Earnings Before Interest and Taxes (EBITDA)778,784
 
After tax Income (+$)
Income Before Tax695,967
Tax Provision-113,425
Net Income From Continuing Ops582,542582,542
Net Income582,542
Net Income Applicable To Common Shares0
 
Non-recurring Events
Discontinued Operations0
Extraordinary Items0
Effect of Accounting Charges0
Other Items0
Non Recurring0
Other Operating Expenses2,153,768
Total Other Income/Expenses Net2,260,776-1,604,612
 

Technical Analysis of Cullen/Frost Bankers Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Cullen/Frost Bankers Inc. The general trend of Cullen/Frost Bankers Inc is BULLISH with 42.9% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Cullen/Frost Bankers Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (42.9%) Bearish trend (-42.9%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Cullen/Frost Bankers Inc Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Cullen/Frost Bankers Inc.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

  • Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 132.84 < 133.88 < 143.40.

The bearish price targets are: 130.48 > 130.05 > 129.01.

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Cullen/Frost Bankers Inc Daily Support & Resistance Chart
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2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Cullen/Frost Bankers Inc. The current mas is .

The long score for the Moving Averages is 10/14.
The longshort score for the Moving Averages is 6/(-14 +14).

  • MA 20 trending up: The MA 20 is trending up. +1
  • Close > MA 20: The price is above the MA 20. +1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
  • MA 50 trending up: The MA 50 is trending up. +1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 < MA 100: The MA 50 is lower than the MA 100. -1
  • MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
  • MA 100 trending down: The MA 100 is trending down. -1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Cullen/Frost Bankers Inc Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Cullen/Frost Bankers Inc. The current macd is 0.94981094.

The long score for the Moving Average Convergence/Divergence (MACD) is 4/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 4/(-4 +4).

  • MACD line > signal line: The MACD line is above the signal line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Cullen/Frost Bankers Inc price going up in the near term. +2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Cullen/Frost Bankers Inc. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Cullen/Frost Bankers Inc price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1
Cullen/Frost Bankers Inc Daily Moving Average Convergence/Divergence (MACD) ChartCullen/Frost Bankers Inc Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Cullen/Frost Bankers Inc. The current adx is 16.89.

The long score for the Directional Movement Index (DMI) is 2/7.
The longshort score for the Directional Movement Index (DMI) is 2/(-7 +7).

  • PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Cullen/Frost Bankers Inc shares, leading to potential upward momentum in its price. +1
  • PLUS_ID > MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bullish trend could be forming. +1
Cullen/Frost Bankers Inc Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Cullen/Frost Bankers Inc. The current sar is 122.91.

The long score for the Parabolic SAR is 1/1.
The longshort score for the Parabolic SAR is 1/(-1 +1).

  • Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1
Cullen/Frost Bankers Inc Daily Parabolic SAR Chart
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3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Cullen/Frost Bankers Inc. The current rsi is 66.20. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 4/13.
The longshort score for the Relative Strength Index (RSI) is 4/(-13 +13).

  • Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
  • Trending up: The RSI is trending up. +1
Cullen/Frost Bankers Inc Daily Relative Strength Index (RSI) ChartCullen/Frost Bankers Inc Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Cullen/Frost Bankers Inc. The current phase is Overbought in bull market.

The long score for the Stochastic Oscillator is 6/6.
The longshort score for the Stochastic Oscillator is 6/(-6 +6).

  • STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
  • STOCH > 80: The STOCH %K is above 80 and overbought. +2
  • STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Cullen/Frost Bankers Inc price going up in the near term. +2
  • Trending up: The STOCH %K is trending up. +1
Cullen/Frost Bankers Inc Daily Stochastic Oscillator ChartCullen/Frost Bankers Inc Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Cullen/Frost Bankers Inc. The current cci is 162.39.

The long score for the Commodity Channel Index (CCI) is 1/1.
The longshort score for the Commodity Channel Index (CCI) is 1/(-1 +1).

  • CCI > 100: The CCI is above 100, it indicates that the price is significantly above its average, suggesting a potential overbought condition. +1
Cullen/Frost Bankers Inc Daily Commodity Channel Index (CCI) ChartCullen/Frost Bankers Inc Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Cullen/Frost Bankers Inc. The current cmo is 47.99.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

  • CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1
Cullen/Frost Bankers Inc Daily Chande Momentum Oscillator (CMO) ChartCullen/Frost Bankers Inc Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Cullen/Frost Bankers Inc. The current willr is -11.5448505.

The long score for the Williams %R is 1/1.
The longshort score for the Williams %R is 1/(-1 +1).

  • WILLR > -20: The Williams %R is above -20. This indicates that the price is in overbought territory, suggesting a potential price correction or trend reversal to the downside. +1
Cullen/Frost Bankers Inc Daily Williams %R ChartCullen/Frost Bankers Inc Daily Williams %R Chart
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4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Cullen/Frost Bankers Inc.

Cullen/Frost Bankers Inc Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Cullen/Frost Bankers Inc. The current atr is 2.73825961.

Cullen/Frost Bankers Inc Daily Average True Range (ATR) ChartCullen/Frost Bankers Inc Daily Average True Range (ATR) Chart
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5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Cullen/Frost Bankers Inc. The current obv is 1,035,125.

Cullen/Frost Bankers Inc Daily On-Balance Volume (OBV) ChartCullen/Frost Bankers Inc Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Cullen/Frost Bankers Inc. The current mfi is 61.00.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

  • MFI > 50: +1
Cullen/Frost Bankers Inc Daily Money Flow Index (MFI) ChartCullen/Frost Bankers Inc Daily Money Flow Index (MFI) Chart
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6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Cullen/Frost Bankers Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2025-02-07STOCH LONG EXITThe %K line crosses below the %D line.
2025-02-10CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-02-11MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-02-13SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-02-18WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-02-20STOCH LONG EXITThe %K line crosses below the %D line.
2025-02-21MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-02-24DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-02-25SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-02-27STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-03STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-04CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-03-07STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-10STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-11BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
MFI SHORT ENTRY LONG CLOSE20 crossover to downside
2025-03-12RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
MFI LONG ENTRY SHORT CLOSE20 crossover to upside
2025-03-13STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-14RSI LONG ENTRY SHORT CLOSE30 crossover to upside
STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-18STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-19STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-20SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2025-03-21STOCH SHORT EXITThe %K line crosses above the %D line.
2025-03-24MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2025-03-26STOCH LONG EXITThe %K line crosses below the %D line.
2025-03-28STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-01SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
2025-04-02STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-03MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-04ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-07STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-09RSI LONG ENTRY SHORT CLOSE30 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-04-10STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-04-14STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-15SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-04-17MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2025-04-21STOCH LONG EXITThe %K line crosses below the %D line.
2025-04-22STOCH SHORT EXITThe %K line crosses above the %D line.
2025-04-23DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-04-24WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-04-25STOCH LONG EXITThe %K line crosses below the %D line.
2025-04-28STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-04-30STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-01STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-05-02BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-05-05STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-08STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-12STOCH LONG EXITThe %K line crosses below the %D line.
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-05-13STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-14STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-15STOCH SHORT EXITThe %K line crosses above the %D line.
2025-05-21SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2025-05-23MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2025-05-27STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2025-05-28STOCH LONG EXITThe %K line crosses below the %D line.
2025-05-30CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-06-02DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-06-03DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-06-04STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-06-05DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2025-06-06DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-06-10WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-06-11STOCH LONG EXITThe %K line crosses below the %D line.
2025-06-12CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2025-06-13DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
2025-06-17STOCH SHORT EXITThe %K line crosses above the %D line.
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
2025-06-23DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2025-06-24SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2025-06-26MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2025-06-27CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2025-06-30STOCH LONG EXITThe %K line crosses below the %D line.
2025-07-01STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).

6.3. Candlestick Patterns

Cullen/Frost Bankers Inc Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Cullen/Frost Bankers Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5066.204
Ma 20Greater thanMa 50126.968
Ma 50Greater thanMa 100125.204
Ma 100Greater thanMa 200125.632
OpenGreater thanClose127.830
Total2/5 (40.0%)
Penke
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