🚀 VC round data is live in beta, check it out!
Frost Bank Valuation Multiples
Discover revenue and EBITDA valuation multiples for Frost Bank and similar public comparables like RHB Bank, Commercial International Bank Egypt, Zions Bank, Bank of the Philippine Islands and more.
Frost Bank Overview
About Frost Bank
Cullen/Frost is a regional US bank with around $53 billion in assets (as of December 2025), and it focuses exclusively on the Texas market. The bank has deep expertise in this market. It has implemented a relationship-based approach to banking that has garnered a strong market share in San Antonio. Cullen/Frost is also expanding into Houston, Dallas, and Austin market regions through branch openings. The bank's sweet spot is small to medium-size Texas-based commercial clients.
Founded
1977
HQ
Employees
6.0K
Website
Sectors
Financials (LTM)
EV
$9B
Frost Bank Financials
Frost Bank reported last 12-month revenue of $2B.
In the same LTM period, Frost Bank generated $645M in net income.
Revenue (LTM)
Frost Bank P&L
In the most recent fiscal year, Frost Bank reported revenue of $2B and net income of $649M.
Frost Bank expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $2B | XXX | $2B | XXX | XXX | XXX |
| EBIT Margin | 36% | XXX | 36% | XXX | XXX | XXX |
| Net Profit | $645M | XXX | $649M | XXX | XXX | XXX |
| Net Margin | 27% | XXX | 28% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Frost Bank Stock Performance
Frost Bank has current market cap of $9B, and enterprise value of $9B.
Market Cap Evolution
Frost Bank's stock price is $143.33.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $9B | $9B | 0.0% | XXX | XXX | XXX | $10.30 |
Benchmark Trading Valuation Multiples by Industry
Sign up to access valuation multiples like growth-adjusted P/E, Rule of 40, next 12-month EV/Revenue, EBITDA multiples by industry, consensus analyst estimates and many more.
Start Free TrialFrost Bank Valuation Multiples
Frost Bank trades at 4.0x EV/Revenue multiple.
EV / Revenue (LTM)
Frost Bank Financial Valuation Multiples
As of April 19, 2026, Frost Bank has market cap of $9B and EV of $9B.
Equity research analysts estimate Frost Bank's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Frost Bank has a P/E ratio of 14.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $9B | XXX | $9B | XXX | XXX | XXX |
| EV (current) | $9B | XXX | $9B | XXX | XXX | XXX |
| EV/Revenue | 4.0x | XXX | 4.0x | XXX | XXX | XXX |
| EV/EBIT | 11.0x | XXX | 11.1x | XXX | XXX | XXX |
| P/E | 14.0x | XXX | 13.9x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 73.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Frost Bank Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Frost Bank Margins & Growth Rates
Frost Bank's revenue in the last 12 month grew by 4%.
Frost Bank's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.
Frost Bank Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4% | XXX | 3% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 36% | XXX | XXX | XXX |
| Opex to Revenue | 61% | XXX | 61% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Frost Bank Public Comps
See public comps and valuation multiples for other Commercial Banking comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Frost Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| RHB Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| Commercial International Bank Egypt | XXX | XXX | XXX | XXX | XXX | XXX |
| Zions Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| Bank of the Philippine Islands | XXX | XXX | XXX | XXX | XXX | XXX |
| Halyk Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Frost Bank M&A Activity
Frost Bank acquired XXX companies to date.
Last acquisition by Frost Bank was on XXXXXXXX, XXXXX. Frost Bank acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Frost Bank
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
Sign up to see revenue and EBITDA valuation multiples for 150K+ M&A deals.
Start Free TrialFrost Bank Investment Activity
Frost Bank invested in XXX companies to date.
Frost Bank made its latest investment on XXXXXXXX, XXXXX. Frost Bank invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Frost Bank
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAbout Frost Bank
| When was Frost Bank founded? | Frost Bank was founded in 1977. |
| Where is Frost Bank headquartered? | Frost Bank is headquartered in United States. |
| How many employees does Frost Bank have? | As of today, Frost Bank has over 6K employees. |
| Who is the CEO of Frost Bank? | Frost Bank's CEO is Phillip D. Green. |
| Is Frost Bank publicly listed? | Yes, Frost Bank is a public company listed on NYSE. |
| What is the stock symbol of Frost Bank? | Frost Bank trades under CFR ticker. |
| When did Frost Bank go public? | Frost Bank went public in 1977. |
| Who are competitors of Frost Bank? | Frost Bank main competitors are RHB Bank, Commercial International Bank Egypt, Zions Bank, Bank of the Philippine Islands. |
| What is the current market cap of Frost Bank? | Frost Bank's current market cap is $9B. |
| What is the current revenue of Frost Bank? | Frost Bank's last 12 months revenue is $2B. |
| What is the current revenue growth of Frost Bank? | Frost Bank revenue growth (NTM/LTM) is 4%. |
| What is the current EV/Revenue multiple of Frost Bank? | Current revenue multiple of Frost Bank is 4.0x. |
| Is Frost Bank profitable? | Yes, Frost Bank is net-income-positive (as of the last 12 months). |
| What is the current net income of Frost Bank? | Frost Bank's last 12 months net income is $645M. |
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.