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Financial statementsHUNTINGTON BANCSHARES INC /MD/ financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data HUNTINGTON BANCSHARES INC /MD/ files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 881 | 939 | 884 | 1,113 | 1,318 | 1,400 | 1,468 | 1,562 | ||
| Selling and marketing | 63 | 60 | 53 | 37 | 38 | 89 | 91 | 115 | 116 | |
| Interest expense | 263 | 431 | 760 | 988 | 423 | 89 | 696 | 3,477 | ||
| Pre-tax income | 920 | 1,394 | 1,628 | 1,659 | 972 | 1,591 | 2,764 | 2,384 | 2,403 | 2,688 |
| Income tax | 208 | 208 | 235 | 248 | 155 | 294 | 515 | 413 | 443 | 459 |
| Net income to minority interests | 0 | 0 | 2 | 11 | 20 | 20 | 18 | |||
| Net income | 712 | 1,186 | 1,393 | 1,411 | 817 | 1,295 | 2,238 | 1,951 | 1,940 | 2,211 |
| EPS, basic | 0.72 | 1.02 | 1.22 | 1.29 | 0.71 | 0.91 | 1.47 | 1.26 | 1.24 | 1.41 |
| EPS, diluted | 0.70 | 1.00 | 1.20 | 1.27 | 0.69 | 0.90 | 1.45 | 1.24 | 1.22 | 1.39 |
| Shares, basic (weighted) | 904 | 1,085 | 1,082 | 1,039 | 1,017 | 1,262 | 1,441 | 1,446 | 1,451 | 1,479 |
| Shares, diluted (weighted) | 919 | 1,136 | 1,106 | 1,056 | 1,033 | 1,287 | 1,465 | 1,468 | 1,476 | 1,505 |
| Dividend per share | 0.29 | 0.35 | 0.50 | 0.58 | 0.60 | 0.61 | 0.62 | 0.62 | 0.62 | 0.62 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 1,385 | 1,520 | 2,672 | 1,170 | 6,595 | 5,522 | 6,704 | 10,129 | 12,847 | 13,495 |
| Property, plant and equipment | 816 | 864 | 790 | 763 | 757 | 1,164 | 1,156 | 1,109 | 1,066 | 1,321 |
| Lease right-of-use assets | 210 | 199 | 316 | 279 | 265 | 278 | 340 | |||
| Goodwill | 1,993 | 1,993 | 1,989 | 1,990 | 1,990 | 5,349 | 5,571 | 5,561 | 5,561 | 5,997 |
| Intangible assets | 402 | 346 | 281 | 232 | 191 | 242 | 195 | 143 | 96 | 145 |
| Total assets | 99,714 | 104,185 | 108,781 | 109,002 | 123,038 | 174,064 | 182,906 | 189,368 | 204,230 | 225,106 |
| Short-term debt | 3,693 | 5,056 | 2,017 | 2,606 | 183 | 334 | 2,027 | 620 | 199 | 1,261 |
| Total liabilities | 89,406 | 93,371 | 97,679 | 97,207 | 110,045 | 154,746 | 165,137 | 169,970 | 184,448 | 200,727 |
| Total debt | 8,309 | 9,206 | 8,625 | 9,849 | 8,352 | 7,108 | 9,686 | 12,394 | 16,374 | 17,221 |
| Paid-in capital | 9,881 | 9,707 | 9,181 | 8,806 | 8,781 | 15,222 | 15,309 | 15,389 | 15,484 | 17,244 |
| Retained earnings | -227 | 588 | 1,361 | 2,088 | 1,878 | 2,202 | 3,419 | 4,322 | 5,204 | 6,351 |
| Treasury stock | -27 | -35 | -45 | -56 | -59 | -79 | -80 | -91 | -86 | -92 |
| Other comprehensive income | -401 | -528 | -609 | -256 | 192 | -229 | -3,098 | -2,676 | -2,866 | -1,908 |
| Shareholders' equity | 10,308 | 10,814 | 11,102 | 11,795 | 12,993 | 19,297 | 17,731 | 19,353 | 19,740 | 24,342 |
| Minority interests | 0 | 21 | 38 | 45 | 42 | 37 | ||||
| Total equity | 10,308 | 10,814 | 11,102 | 11,795 | 12,993 | 19,318 | 17,769 | 19,398 | 19,782 | 24,379 |
| Total liabilities and equity | 99,714 | 104,185 | 108,781 | 109,002 | 123,038 | 174,064 | 182,906 | 189,368 | 204,230 | 225,106 |
| Shares outstanding | 1,086 | 1,072 | 1,047 | 1,020 | 1,017 | 1,438 | 1,443 | 1,448 | 1,454 | 1,568 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 712 | 1,186 | 1,393 | 1,411 | 817 | 1,297 | 2,249 | 1,971 | 1,960 | 2,229 |
| Depreciation and amortization | 380 | 413 | 493 | 386 | 367 | 391 | 484 | 798 | 622 | 762 |
| Stock-based compensation | 66 | 92 | 78 | 83 | 77 | 129 | 105 | 97 | 106 | 113 |
| Deferred income tax | 165 | 168 | 63 | 23 | -93 | -76 | 319 | -302 | -26 | -403 |
| Cash from operations | 1,215 | 1,954 | 1,726 | 1,574 | 1,323 | 2,062 | 4,027 | 2,657 | 1,836 | 2,482 |
| Capital expenditures | -120 | -194 | -110 | -107 | -119 | -247 | -214 | -140 | -143 | -267 |
| Acquisitions | -133 | 0 | -15 | 0 | 0 | -223 | 0 | 0 | ||
| Purchases of investments | -6,036 | -11,104 | -19,936 | -7,107 | -4,965 | -14,043 | -5,325 | |||
| Sales and maturities of investments | 2,346 | 1,994 | 2,109 | 2,124 | 5,697 | 7,275 | 4,053 | 2,689 | 11,001 | 7,137 |
| Cash from investing | -3,445 | -4,866 | -3,663 | -1,877 | -8,639 | -3,962 | -11,609 | -2,997 | -12,119 | -6,347 |
| Debt issued | 2,128 | 1,891 | 2,229 | 1,796 | 1,386 | 775 | 11,004 | 14,965 | 7,661 | 2,500 |
| Debt repaid | -1,275 | -948 | -2,798 | -743 | -3,052 | -3,404 | -8,017 | -12,376 | -3,563 | -2,053 |
| Stock issued | 0 | 11 | ||||||||
| Share buybacks | 0 | -260 | -939 | -441 | -92 | -650 | 0 | 0 | ||
| Dividends paid | -245 | -349 | -514 | -597 | -614 | -750 | -897 | -900 | -903 | -908 |
| Cash from financing | 2,768 | 3,047 | 3,089 | -1,199 | 12,741 | 827 | 8,764 | 3,765 | 13,001 | 4,513 |
| Net change in cash | 538 | 135 | 1,152 | -1,502 | 5,425 | -1,073 | 1,182 | 3,425 | 2,718 | 648 |
| Free cash flow | 1,095 | 1,760 | 1,616 | 1,467 | 1,204 | 1,815 | 3,813 | 2,517 | 1,693 | 2,215 |
| Interest paid | 241 | 409 | 742 | 989 | 453 | 185 | 627 | 3,359 | 4,547 | 4,267 |
| Income taxes paid | 5 | 84 | -52 | 111 | 81 | 269 | -109 | 90 | 123 | 274 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 159.0% | Pre-tax income / revenue. |
| Net margin | 131.1% | Net income / revenue. |
| FCF margin | 128.1% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 148.1% | Cash from operations / revenue. |
| Effective tax rate | 16.9% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 6.8% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 0.8% | Net income / average total assets. |
| Stock-based pay / revenue | 8.1% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 20.0% | Capital expenditures / revenue. |
| D&A / revenue | 44.2% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 6.4% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 5.8% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 12.1% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 14.0% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -0.4% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 22.0% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 13.9% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -1.4% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 15.0% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | 35.2% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -14.9% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 13.4% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 30.8% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -16.6% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 13.0% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 0.0% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 0.0% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 0.7% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 23.3% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 11.1% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 13.4% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 10.2% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 7.2% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 12.8% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | 1.9% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | 0.9% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 7.8% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Debt / equity | 0.66x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 7.6% | Total debt / total assets. |
| Liabilities / assets | 88.6% | Total liabilities / total assets. |
| Net debt | $2.41B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Goodwill and intangibles / assets | 3.7% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $22.04B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.01x | Revenue / average total assets. |
| Fixed asset turnover | 0.79x | Revenue / average property, plant and equipment. |
| FCF conversion | 97.7% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 13.5% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $1.16 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $0.89 | Revenue / diluted weighted shares. |
| FCF per share | $1.13 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $1.31 | Cash from operations / diluted weighted shares. |
| Book value per share | $16.05 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $10.87 | Tangible book value / shares outstanding. |
| Cash per share | $9.46 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 42.1% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 43.1% | Dividends paid / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $51.06B | Share price x shares outstanding. |
| Enterprise value | $53.46B | Market cap + total debt - cash - short-term investments. |
| P/E | 23.1x | Market cap / net income. Only when net income is positive. |
| P/S | 30.3x | Market cap / revenue. |
| P/B | 1.57x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 2.32x | Market cap / tangible book value, when positive. |
| P/FCF | 23.7x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 20.5x | Market cap / cash from operations, when positive. |
| EV/Sales | 31.8x | Enterprise value / revenue. |
| EV/FCF | 24.8x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 4.2% | Free cash flow / market cap. |
| Earnings yield | 4.3% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 1.8% | Dividends paid over the period / market cap. |
| Shareholder yield | 1.8% | (Dividends paid + share buybacks) / market cap. |
What was HUNTINGTON BANCSHARES INC /MD/'s revenue in fiscal 2025?
HUNTINGTON BANCSHARES INC /MD/ reported revenue of $1.56B for fiscal 2025, 6.4% higher than the year before.
Was HUNTINGTON BANCSHARES INC /MD/ profitable in fiscal 2025?
Yes. Net income was $2.21B, a net margin of 141.5%.
How much free cash flow did HUNTINGTON BANCSHARES INC /MD/ generate in fiscal 2025?
Cash from operations of $2.48B minus capital expenditures of $267.0M left free cash flow of $2.22B.