• Cullen/Frost Bankers, Inc. (NYSE:CFR) has a Return on Invested Capital (ROIC) of 12.33%, which is lower than its Weighted Average Cost of Capital (WACC) of 15.06%, indicating inefficiency in generating returns that exceed its cost of capital.
• Commerce Bancshares, Inc. (CBSH) shows a negative ROIC, significantly lower than its WACC, highlighting inefficiency in capital utilization.
• BOK Financial Corporation (BOKF) has the highest ROIC to WACC ratio among its peers, suggesting efficient capital utilization and making it an attractive option for investors.

Cullen/Frost Bankers, Inc. (NYSE:CFR) is a financial services company based in Texas, providing a range of banking products and services. It operates through its subsidiary, Frost Bank, and competes with other regional banks like Commerce Bancshares, Inc. (CBSH), BOK Financial Corporation (BOKF), Bank of Hawaii Corporation (BOH), Prosperity Bancshares, Inc. (PB), and Community Bank System, Inc. (CBU).

In evaluating CFR's financial performance, the Return on Invested Capital (ROIC) is a key metric. CFR's ROIC is 12.33%, which is lower than its Weighted Average Cost of Capital (WACC) of 15.06%. This results in a ROIC to WACC ratio of 0.82, indicating that CFR is not generating returns that exceed its cost of capital. This could be a concern for investors who prioritize efficient capital utilization.

Comparatively, Commerce Bancshares, Inc. (CBSH) has a negative ROIC of -5.69%, which is significantly lower than its WACC of 11.16%. This results in a ROIC to WACC ratio of -0.51, highlighting inefficiency in capital utilization. In contrast, BOK Financial Corporation (BOKF) has a ROIC of 11.12% and a WACC of 10.23%, resulting in a ROIC to WACC ratio of 1.09. This suggests that BOKF is effectively utilizing its capital to generate returns that exceed its cost of capital.

Bank of Hawaii Corporation (BOH) and Community Bank System, Inc. (CBU) both have ROICs slightly below their WACCs, with ratios of 0.90. This indicates a moderate level of capital efficiency. Meanwhile, Prosperity Bancshares, Inc. (PB) has a low ROIC of 3.96% compared to its WACC of 9.16%, resulting in a ROIC to WACC ratio of 0.43, indicating inefficiency in generating returns on its capital.

Among CFR's peers, BOK Financial Corporation (BOKF) stands out with the highest ROIC to WACC ratio of 1.09. This suggests that BOKF is the most efficient in using its capital to generate returns, making it a potentially attractive option for investors seeking efficient capital utilization.