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Arphra AIPlain-English read on Cullen/Frost Bankers, Inc.’s valuationEnterprise value
$13.39B
Market cap
$9.38B
Net debt
$4.01B
Total debt
$4.64B
Cash & ST inv.
$638.79M
Capital structure
· balance sheet · 2026-03-31Enterprise-value bridge
Equity 70%
Net debt 30%
Share of enterprise value funded by equity vs net debt.
Market capitalisation$9.38B
+ Total debt+$4.64B
− Cash & short-term investments−$638.79M
= Enterprise value$13.39B
Valuation
· key metrics · TTMEV multiples
EV / EBITDA15.2×
EV / Sales4.8×
EV / FCF17.4×
Net debt / EBITDA4.5×
Debt / Equity—