PNC FINANCIAL SERVICES GROUP, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PNC FINANCIAL SERVICES GROUP, INC. 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	15,162	16,329	16,190	16,839	16,901	19,211	21,120	21,490	21,555	23,099
Selling and marketing	247	244	285	301	236	319	355	350	362	378
Interest expense	1,261	1,706	2,861	3,797	1,361	487	2,422	10,392
Pre-tax income	5,253	5,490	5,486	5,492	3,429	6,988	7,473	6,736	7,242	8,486
Income tax	1,268	102	928	901	426	1,263	1,360	1,089	1,289	1,489
Income from continuing operations			4,513	4,542	2,962	5,674	6,041	5,578
Net income to minority interests	82	50	45	49		51	72	69	64	61
Net income	3,662	5,053	4,255	4,284	2,716	5,409	5,708	5,126	5,496	6,576
EPS, basic	7.42	10.49	10.79	11.43	16.99	12.71	13.86	12.80	13.76	16.60
EPS, diluted	7.30	10.36	10.71	11.39	16.96	12.70	13.85	12.79	13.74	16.59
Shares, basic (weighted)	494	481	467	447	427	426	412	401	399	396
Shares, diluted (weighted)	500	486	470	448	427	426	412	401	400	396
Dividend per share	2.12	2.60				4.80	5.75	6.10	6.30	6.60

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents		5,249	5,608	5,061	7,017	82,254	34,363	50,725	46,251	39,713
Property, plant and equipment	5,522	5,436	5,727	7,728	7,687	8,593	8,754	8,517	8,672	8,935
Lease right-of-use assets				1,982	1,876	1,919	1,857	1,745	1,619	1,692
Goodwill	9,103	9,173	9,218	9,233	9,233	10,916	10,987	10,932	10,932	10,959
Total assets	366,380	380,768	382,315	410,295	466,679	557,191	557,263	561,580	560,038	573,572
Total liabilities	319,526	333,183	334,545	360,952	412,638	501,465	511,451	510,439	505,569	512,936
Total debt	52,706	59,088	57,419	60,263	37,195	30,784	58,726	72,737	61,673	57,101
Paid-in capital	16,651	16,374	16,277	16,369	15,884	17,457	18,376	19,020	18,710	18,922
Retained earnings	31,670	35,481	38,919	42,215	46,848	50,228	53,572	56,290	59,282	63,266
Treasury stock	-5,066	-6,904	-9,454	-12,781	-14,205	-15,112	-18,716	-19,209	-19,719	-20,912
Other comprehensive income	-265	-148	-725	799	2,770	409	-10,172	-7,712	-6,565	-3,408
Shareholders' equity	45,699	47,513	47,728	49,314	54,010	55,695	45,774	51,105	54,425	60,585
Minority interests	1,155	72	42	29	31	31	38	36	44	51
Total equity	46,854	47,585	47,770	49,343	54,041	55,726	45,812	51,141	54,469	60,636
Total liabilities and equity	366,380	380,768	382,315	410,295	466,679	557,191	557,263	561,580	560,038	573,572

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	3,985	5,388	5,346	5,418	7,558	5,725	6,113	5,647	5,953	6,997
Depreciation and amortization	843	921	940	1,035	983	1,066	1,139	1,149	259	381
Stock-based compensation	200	200
Deferred income tax	326	-403	11	179	-401	178	351	-252	-30	-40
Cash from operations	3,500	5,579	7,840	7,363	4,659	7,214	9,083	10,111	7,880	4,384
Acquisitions		-1,342		75		-10,511
Purchases of investments	-19,495	-13,605	-23,418	-23,739	-45,356	-85,496	-25,582	-3,805	-30,366	-15,425
Sales and maturities of investments	11,061	10,734	9,388	11,974	30,901	30,691	13,324	6,916	6,622	6,668
Cash from investing	-7,307	-14,895	-3,969	-24,990	-51,122	-2,795	-60,358	10,105	-3,232	-15,617
Share buybacks	-2,062	-2,447	-2,877	-3,578	-1,624	-1,079	-3,731	-651	-687	-1,338
Dividends paid	-1,061	-1,266	-1,601	-1,895	-1,980	-2,056	-2,391	-2,461	-2,537	-2,635
Cash from financing	4,621	9,686	-3,512	17,080	48,419	-3,432	3,384	-3,854	-9,122	4,695
Net change in cash	814	370	359	-547	1,956	987	-47,891	16,362	-4,474	-6,538
Interest paid	1,317	1,743	2,835	3,742	1,292	582	2,172	9,451	13,052	11,154
Income taxes paid	658	72	372	430	3,410	675	197	165	389	704

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $225.64 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	37.5%	Pre-tax income / revenue.
Net margin	29.0%	Net income / revenue.
Operating cash flow margin	29.9%	Cash from operations / revenue.
Effective tax rate	18.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.2%	Net income / average total assets.
D&A / revenue	1.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	19.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	4.8%	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	19.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	20.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	6.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-0.4%	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	-44.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-21.6%	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	-1.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	4.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	11.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.8%	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	2.3%	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	2.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.0%	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	4.2%	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	-1.0%	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	-1.3%	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	-1.5%	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	1.34x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	13.9%	Total debt / total assets.
Liabilities / assets	89.6%	Total liabilities / total assets.
Net debt	$56.98B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	2.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$50.69B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.04x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$18.03	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	$62.10	Revenue / diluted weighted shares.
Operating cash flow per share	$18.58	Cash from operations / diluted weighted shares.
Book value per share	$158.83	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$125.78	Tangible book value / shares outstanding.
Cash per share	$71.33	(Cash + short-term investments) / shares outstanding.
Payout ratio	37.7%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$90.02B	Share price x shares outstanding.
Enterprise value	$147.00B	Market cap + total debt - cash - short-term investments.
P/E	12.4x	Market cap / net income. Only when net income is positive.
P/S	3.60x	Market cap / revenue.
P/B	1.41x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.78x	Market cap / tangible book value, when positive.
P/OCF	12.0x	Market cap / cash from operations, when positive.
EV/Sales	5.87x	Enterprise value / revenue.
Earnings yield	8.1%	Net income / market cap (the inverse of P/E).
Dividend yield	3.0%	Dividends paid over the period / market cap.
Shareholder yield	5.4%	(Dividends paid + share buybacks) / market cap.
PEG	2.00x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was PNC FINANCIAL SERVICES GROUP, INC.'s revenue in fiscal 2025?

PNC FINANCIAL SERVICES GROUP, INC. reported revenue of $23.10B for fiscal 2025, 7.2% higher than the year before.

Was PNC FINANCIAL SERVICES GROUP, INC. profitable in fiscal 2025?

Yes. Net income was $6.58B, a net margin of 28.5%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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