PNC FINANCIAL SERVICES GROUP, INC. PNC
The PNC Financial Services Group, Inc. is a financial services holding company headquartered in Pittsburgh, Pennsylvania and one of the largest diversified financial institutions in the U.S. PNC has businesses engaged in retail banking, corporate and institutional banking and asset management, providing many of our products and services nationally. We are organized around our customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Our retail branch network is located coast-to-coast, and we also have strategic international offices in four countries outside the U.S. At December 31, 2025, our consolidated total assets, total deposits and total shareholders' equity were $573.6 billion, $440.9 billion and $60.6 billion, respectively.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.10B | $21.55B | $21.49B | $21.12B | $19.21B | $16.90B | $16.84B | $16.19B | $15.25B | $15.16B |
| Interest expense | $14.41B | $13.50B | $13.92B | $13.01B | $487.0M | $1.36B | $3.80B | $2.86B | $1.71B | $1.26B |
| Pre-tax income | $8.49B | $7.24B | $6.74B | $7.47B | $6.99B | $3.43B | $5.49B | $5.49B | $4.41B | $5.25B |
| Income tax | $1.49B | $1.29B | $1.09B | $1.36B | $1.26B | $426.0M | $901.0M | $928.0M | $185.0M | $1.27B |
| Net income | $7.00B | $5.95B | $5.65B | $6.11B | $5.72B | $7.56B | $5.42B | $5.35B | $5.39B | $3.98B |
| EPS, basic | 16.60 | 13.76 | 12.80 | 13.86 | 12.71 | 16.99 | 11.43 | 10.79 | 10.49 | 7.42 |
| EPS, diluted | 16.59 | 13.74 | 12.79 | 13.85 | 12.70 | 16.96 | 11.39 | 10.71 | 10.36 | 7.30 |
| Shares, diluted (wtd. avg.) | $396.0M | $400.0M | $401.0M | $412.0M | $426.0M | $427.0M | $448.0M | $470.0M | $486.0M | $500.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $39.71B | $46.25B | $50.73B | $34.36B | $82.25B | $7.02B | $5.06B | $5.61B | $5.25B | $4.88B |
| Property, plant and equipment | $8.94B | $8.67B | $8.52B | $8.75B | $8.59B | $7.69B | $7.73B | $5.73B | $5.44B | $5.52B |
| Goodwill | $10.96B | $10.93B | $10.93B | $10.99B | $10.92B | $9.23B | $9.23B | $9.22B | $9.17B | $9.10B |
| Total assets | $573.57B | $560.04B | $561.58B | $557.26B | $557.19B | $466.68B | $410.30B | $382.31B | $380.77B | $366.38B |
| Long-term debt | $57.10B | $61.67B | $72.74B | $58.73B | — | — | — | — | — | — |
| Total liabilities | $512.94B | $505.57B | $510.44B | $511.45B | $501.46B | $412.64B | $360.95B | $334.55B | $333.18B | $319.53B |
| Retained earnings | $63.27B | $59.28B | $56.29B | $53.57B | $50.23B | $46.85B | $42.22B | $38.92B | $35.48B | $31.67B |
| Total equity | $60.59B | $54.42B | $51.14B | $45.81B | $55.73B | $54.04B | $49.34B | $47.77B | $47.59B | $46.85B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.38B | $7.88B | $10.11B | $9.08B | $7.21B | $4.66B | $7.36B | $7.84B | $5.58B | $3.50B |
| Depreciation and amortisation | $1.00B | $912.0M | $900.0M | $899.0M | $1.07B | $983.0M | $1.03B | $940.0M | $921.0M | $843.0M |
| Stock-based compensation | — | — | — | — | — | — | — | — | $200.0M | $200.0M |
| Investing cash flow | -$15.62B | -$3.23B | $10.11B | -$60.36B | -$2.79B | -$51.12B | -$24.99B | -$3.97B | -$14.89B | -$7.31B |
| Financing cash flow | $4.70B | -$9.12B | -$3.85B | $3.38B | -$3.43B | $48.42B | $17.08B | -$3.51B | $9.69B | $4.62B |
| Dividends paid | $2.63B | $2.54B | $2.46B | $2.39B | $2.06B | $1.98B | $1.90B | $1.60B | $1.27B | $1.06B |
| Buybacks | $1.34B | $687.0M | $651.0M | $3.73B | $1.08B | $1.62B | $3.58B | $2.88B | $2.45B | $2.06B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000713676-26-000020.
Others in SIC 6021
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |
| HBAN | HUNTINGTON BANCSHARES INC /MD/ | $34.52B | 12.3x | 6.4% |