CFR
Cullen/Frost Bankers, Inc.
CFR has slightly lower modeled downside risk, despite its lower overall score.
GS
The Goldman Sachs Group, Inc.
GS has the edge over CFR overall, supported by stronger fundamentals and stronger modeled upside.
CFR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
CFR's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like CFR.
GS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
GS's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like GS.
CFR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $126 | -20% |
| Forward | 13x | $158 | — |
| Fair | 14x | $152 | -4% |
| Current | 15x | $158 | — |
| Expensive | 19x | $207 | +31% |
Historical ranges are pointers, not guarantees.
CFR has the edge over GS in the historical PE scenario, which offers more potential upside but is not a forecast.
GS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.6x | $528 | -42% |
| Current | 13x | $914 | — |
| Forward | 13x | $914 | — |
| Fair | 14x | $940 | +2.9% |
| Expensive | 17x | $1,214 | +33% |
Historical ranges are pointers, not guarantees.
GS's PE is 13x, but its earnings don't support one, so it isn't a reliable read right now.
CFR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
CFR has the edge over GS on the outlook, with more favorable valuation expectations.
GS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for GS, with profitability improving. However, they disagree widely on these estimates.
CFR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $11.91 | +11% |
| Q3 2026 | $10.75 | +11% |
| Q2 2026 | $10.58 | +14% |
| Q1 2026 | $10.27 | +13% |
| Q4 2025 | $9.92 | +12% |
| Q3 2025 | $9.72 | +21% |
| Q2 2025 | $9.29 | +13% |
| Q1 2025 | $9.11 | +7.7% |
| Q4 2024 | $8.87 | -2.5% |
CFR earned $10.75 per share over the past year, up 11% from the year before. Its recent earnings include one-off gains.
GS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $72.35 | +4% |
| Q3 2026 | $69.58 | +41% |
| Q2 2026 | $64.82 | +43% |
| Q1 2026 | $54.75 | +27% |
| Q4 2025 | $51.32 | +27% |
| Q3 2025 | $49.22 | +44% |
| Q2 2025 | $45.37 | +45% |
| Q1 2025 | $43.08 | +68% |
| Q4 2024 | $40.54 | +77% |
GS has the edge over CFR on earnings, with more consistent year-over-year improvement.
CFR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $603.8M | +6.4% |
| Q2 2026 | $576M | +5.3% |
| Q1 2026 | $574.8M | +6.4% |
| Q4 2025 | $580.9M | +8.3% |
| Q3 2025 | $567.3M | +9.5% |
| Q2 2025 | $546.9M | +7.7% |
| Q1 2025 | $540.2M | +7.7% |
| Q4 2024 | $536.3M | +6.9% |
CFR's revenue has grown year over year for 10 quarters in a row: $604M last quarter, up 6.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 36% | -1.1 points |
| Q2 2026 | 36% | +1.4 points |
| Q1 2026 | 35% | +2.1 points |
| Q4 2025 | 34% | -0.2 points |
| Q3 2025 | 37% | +2.8 points |
| Q2 2025 | 34% | -0.4 points |
| Q1 2025 | 33% | +0.9 points |
| Q4 2024 | 34% | +10 points |
CFR's operating margin was 36% last quarter, down 1.1 points from the same quarter a year ago.
GS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $18.7B | +23% |
| Q2 2026 | $20.3B | +39% |
| Q1 2026 | $17.2B | +14% |
| Q4 2025 | $13.5B | -3% |
| Q3 2025 | $15.2B | +20% |
| Q2 2025 | $14.6B | +15% |
| Q1 2025 | $15.1B | +6% |
| Q4 2024 | $13.9B | +23% |
GS's revenue is growing: $18.7B last quarter, up 23% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 37% | +2 points |
| Q2 2026 | 42% | +8.1 points |
| Q1 2026 | 38% | +0.2 points |
| Q4 2025 | 44% | +5.6 points |
| Q3 2025 | 36% | +4.1 points |
| Q2 2025 | 34% | +3.2 points |
| Q1 2025 | 37% | +0.6 points |
| Q4 2024 | 38% | +18 points |
GS has the edge over CFR on profitability, with a higher operating margin.
CFR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $248.7M | +17% |
| Q2 2026 | -$7.1M | -106% |
| Q1 2026 | $198.7M | +$535.8M |
| Q4 2025 | $138.2M | +419% |
| Q3 2025 | $211.7M | -25% |
| Q2 2025 | $114.5M | +11% |
| Q1 2025 | -$337.1M | -175% |
| Q4 2024 | $26.7M | +$150.2M |
CFR has the edge over GS on cash generation, producing positive trailing cash flow while its opponent burns cash.
GS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +72% |
| Q2 2026 | $5.6B | +7.8% |
| Q1 2026 | -$32.4B | +$5.3B |
| Q4 2025 | -$16.8B | -136% |
| Q3 2025 | $2.1B | +$40.6B |
| Q2 2025 | $5.2B | -6.8% |
| Q1 2025 | -$37.7B | -$9.2B |
| Q4 2024 | $46.2B | +$75.1B |
GS's free cash flow was −$40B over the past year, against $15.8B the year before. Free cash flow isn't a meaningful measure for financial services companies like GS.
CFR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -338K shares |
| 1 year | -3.1% | -2M shares |
| 3 years | -3.3% | -2.1M shares |
| 5 years | -3.1% | -2M shares |
| Available history | -2.1% | -1.3M shares |
CFR has 62M diluted shares, down 3.1% from a year ago, with $264M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $15.2M |
| Q2 2026 | $90.9M |
| Q1 2026 | $72.3M |
| Q4 2025 | $85.4M |
| Q3 2025 | $69.8M |
| Q2 2025 | $76,000 |
| Q1 2025 | $2.6M |
| Q4 2024 | $8.6M |
CFR spent $264M buying back its own shares over the past year, about three times what it spent the year before.
GS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -3.8M shares |
| 1 year | -4.4% | -13.9M shares |
| 3 years | -12% | -42.8M shares |
| 5 years | -15% | -52.8M shares |
| Available history | -20% | -74.4M shares |
GS has the edge over CFR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3B |
| Q2 2026 | $4B |
| Q1 2026 | $5B |
| Q4 2025 | $3B |
| Q3 2025 | $2B |
| Q2 2025 | $3B |
| Q1 2025 | $4.4B |
| Q4 2024 | $2B |
GS spent $15B buying back its own shares over the past year, up 32% from the year before.
CFR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.7x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.8x | Net Cash |
| Q1 2025 | -0.8x | Net Cash |
| Q4 2024 | -0.8x | Net Cash |
CFR has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like CFR.
GS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.4x | Net Cash |
| Q2 2026 | -6.1x | Net Cash |
| Q1 2026 | -6.7x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2025 | -3.5x | Net Cash |
| Q2 2025 | -3.1x | Net Cash |
| Q1 2025 | -3.9x | Net Cash |
| Q4 2024 | -4.7x | Net Cash |
GS has the edge over CFR on leverage, with a lower net debt burden relative to earnings.
CFR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.7 | Neutral |
| Stochastic | 44.9 | Neutral |
CFR's weekly RSI is 55 (neutral) and its Stochastic is 45 (neutral).
GS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.5 | Neutral |
| Stochastic | 16.3 | Oversold |
GS's weekly RSI is 45 (neutral) and its Stochastic is 16 (oversold).
CFR PE vs Financial Services Sector
| Metric | CFR | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 13% above |
| PE % | 56 | 63 | 7 pts below |
CFR is trading at 15x earnings, a 13% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
GS PE vs Financial Services Sector
| Metric | GS | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.8% above |
| PE % | 46 | 63 | 17 pts below |
GS has the edge over CFR on valuation relative to its sector.
CFR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $155.7 | 1.4% above |
| 20 week MA | $159.8 | 1.2% below |
| 50 week MA | $146.8 | 7.5% above |
| 100 week MA | $137.4 | 15% above |
| 200 week MA | $123.3 | 28% above |
CFR has the edge over GS on trend strength, trading above more of its moving averages.
GS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $895.5 | 2% above |
| 20 week MA | $977.4 | 6.5% below |
| 50 week MA | $945.4 | 3.4% below |
| 100 week MA | $804.5 | 14% above |
| 200 week MA | $602.7 | 52% above |
GS's trend is mixed: it's above three of its five weekly moving averages, and 52% above its 200-week average.
CFR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $98.0 | $87.5 | -11% |
| 2021 | $87.5 | $125.5 | +43% |
| 2022 | $125.5 | $131.7 | +5% |
| 2023 | $131.7 | $108.5 | -18% |
| 2024 | $108.5 | $135.2 | +25% |
| 2025 | $135.2 | $128.6 | -4.9% |
| 2026 YTD | $128.6 | $157.8 | +23% |
CFR has the edge over GS on returns for 2026, with the stronger performance.
GS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $230.7 | $256.2 | +11% |
| 2021 | $256.2 | $385.0 | +50% |
| 2022 | $385.0 | $345.5 | -10% |
| 2023 | $345.5 | $385.8 | +12% |
| 2024 | $385.8 | $576.2 | +49% |
| 2025 | $576.2 | $907.0 | +57% |
| 2026 YTD | $907.0 | $913.6 | +0.7% |
GS has finished higher in five of the last six years, two of them by more than 50%. It's up 0.7% so far in 2026.