Frost Bank

CFR · Regional Banks

$157.05

0.4%

Pinnacle Financial Partners

PNFP · Regional Banks

$100.35

0.1%

The short version

Frost Bank is the larger business, with $2.2B of revenue in fiscal 2025 against $2.1B for Pinnacle Financial Partners.
Pinnacle Financial Partners grew revenue faster (18.3%, against 8.3%).
Investors pay more for each dollar of Pinnacle Financial Partners’s earnings: a P/E of 24.9x against 14.8x for Frost Bank.

Latest fiscal year	CFR · FY25	PNFP · FY25
Size
Market cap	$10.1B	$7.8B
Revenue	$2.2B	$2.1B
Free cash flow	—	—
Net income	$649M	$642M
Growth
Revenue growth	8.3%	18.3%
5-year growth	9.2%	12.5%
Share count change	−0.3%	0.7%
Profitability
Gross margin	—	—
Operating margin	—	—
Net margin	29.0%	31.2%
FCF margin	—	—
Return on capital	—	—
Return on equity	15.3%	9.5%
Balance sheet
Net debt	—	—
Net debt / EBITDA	—	—
Dividends and buybacks	$413M	$74.7M
Valuation & quality
P/E	14.8x	24.9x
Piotroski F-score	—	—

Revenue

FY16

CFR $1.1B

PNFP $446M

FY17

CFR $1.2B

PNFP $688M

FY18

CFR $1.3B

PNFP $937M

FY19

CFR $1.4B

PNFP $1.0B

FY20

CFR $1.4B

PNFP $1.1B

FY21

CFR $1.4B

PNFP $1.3B

FY22

CFR $1.7B

PNFP $1.5B

FY23

CFR $2.0B

PNFP $1.7B

FY24

CFR $2.1B

PNFP $1.7B

FY25

CFR $2.2B

PNFP $2.1B

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