The WACC of Cullen/Frost Bankers Inc (CFR) is 7.8%.
| Range | Selected | |
| Cost of equity | 7.80% - 11.90% | 9.85% |
| Tax rate | 10.50% - 12.10% | 11.30% |
| Cost of debt | 5.00% - 5.00% | 5.00% |
| WACC | 6.5% - 9.1% | 7.8% |
| Category | Low | High |
| Long-term bond rate | 3.9% | 4.4% |
| Equity market risk premium | 4.6% | 5.6% |
| Adjusted beta | 0.85 | 1.26 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 7.80% | 11.90% |
| Tax rate | 10.50% | 12.10% |
| Debt/Equity ratio | 0.61 | 0.61 |
| Cost of debt | 5.00% | 5.00% |
| After-tax WACC | 6.5% | 9.1% |
| Selected WACC | 7.8% | |