US BANCORP DE financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data US BANCORP DE 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	21,308	21,902	22,637				24,302	28,144	27,455	28,656
Selling and marketing	435	542	429	426	318	366	456	726	619	705
Interest expense	1,468	1,966	3,254	4,442	2,015	993	3,217	12,611
Pre-tax income	8,105	7,517	8,678	8,594	6,051	10,166	7,301	6,865	7,909	9,517
Income tax	2,161	1,264	1,554	1,648	1,066	2,181	1,463	1,407	1,580	1,921
Net income to minority interests	56	35	28	32	26	22	13	29	30	26
Net income	5,888	6,218	7,096	6,914	4,959	7,963	5,825	5,429	6,299	7,570
EPS, basic	3.25	3.53	4.15	4.16	3.06	5.11	3.69	3.27	3.79	4.62
EPS, diluted	3.24	3.51	4.14	4.16	3.06	5.10	3.69	3.27	3.79	4.62
Shares, basic (weighted)	1,718	1,677	1,634	1,581	1,509	1,489	1,489	1,543	1,560	1,557
Shares, diluted (weighted)	1,724	1,683	1,638	1,583	1,510	1,490	1,490	1,543	1,561	1,558
Dividend per share	1.07	1.16	1.34	1.58	1.68	1.76	1.88	1.93	1.98	2.04

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents				22,405	62,580	28,905	53,542	61,192	56,502	46,890
Property, plant and equipment	2,443	2,432	2,457	3,702	3,468	3,305	3,858
Lease right-of-use assets							1,296	1,149	1,114	1,195
Goodwill	9,344	9,434	9,369	9,655	9,918	10,262	12,373	12,489	12,536	12,635
Intangible assets	3,303	3,228	3,392	3,223	2,864	3,738	7,155	6,084	5,547	4,904
Total assets	445,964	462,040	467,374	495,426	553,905	573,284	674,805	663,491	678,318	692,345
Short-term debt	13,963	16,651	14,139	23,723	11,766	11,796	31,216	15,279	15,518	17,162
Total liabilities	398,031	412,374	415,717	442,943	500,180	517,897	623,573	607,720	619,278	626,694
Total debt	33,323	32,259	41,340	40,167	41,297	32,125	39,829
Paid-in capital	8,440	8,464	8,469	8,475	8,511	8,539	8,712	8,673	8,715	8,728
Retained earnings	50,151	54,142	59,065	63,186	64,188	69,201	71,901	74,026	76,863	80,906
Treasury stock	-15,280	-17,602	-20,188	-24,440	-25,930	-27,271	-25,269	-24,126	-24,065	-24,283
Other comprehensive income	-1,535	-1,404	-2,322	-1,373	322	-1,943	-11,407	-10,096	-9,764	-6,987
Shareholders' equity	47,298	49,040	51,029	51,853	53,095	54,918	50,766	55,306	58,578	65,193
Minority interests	635	626	628	630	630	469	466	465	462	458
Total equity	47,933	49,666	51,657	52,483	53,725	55,387	51,232	55,771	59,040	65,651
Total liabilities and equity	445,964	462,040	467,374	495,426	553,905	573,284	674,805	663,491	678,318	692,345
Shares outstanding	1,700	1,700	1,600	1,500	1,500	1,500	1,500	1,600	1,600	1,600

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	5,944	6,253	7,124	6,946	4,985	7,985	5,838	5,458	6,329	7,596
Stock-based compensation	150	163	174	178	189	207	202	224	232	235
Deferred income tax								-509	29	308
Cash from operations	5,336	6,472	10,564	4,889	3,716	9,870	21,119	8,393	11,350	7,970
Purchases of investments				-33,814	-68,662	-99,045	-24,592	-8,342	-35,886	-15,858
Sales and maturities of investments	14,625	13,042	11,411	11,454	40,639	41,199	14,927	6,314	6,006	6,981
Cash from investing	-17,958	-12,126	-8,977	-21,560	-15,440	-57,487	7,500	18,925	-24,534	-20,538
Debt issued	10,715	9,434	12,078	9,899	14,501	2,626	8,732	15,583	12,017	10,360
Debt repaid	-9,495	-10,517	-2,928	-11,119	-14,476	-11,432	-6,926	-4,084	-6,042	-9,052
Stock issued	355	159	86	88	15	43	21	951	32	45
Share buybacks	-2,556	-2,631	-2,822	-4,525	-1,672	-1,555	-69	-62	-173	-489
Dividends paid	-1,810	-1,928	-2,092	-2,443	-2,552	-2,579	-2,776	-2,970	-3,092	-3,168
Cash from financing	17,180	9,454	361	17,623	51,899	13,942	-3,982	-19,998	8,821	2,250
Net change in cash		3,800	1,948	952	40,175	-33,675	24,637	7,650	-4,690	-9,612
Interest paid	1,591	2,086	3,056	4,404	2,199	1,061	2,717	12,282	15,382	14,388
Income taxes paid	595	555	365	941	1,025	535	767	645	499	544

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 $59.33 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	34.4%	Pre-tax income / revenue.
Net margin	27.5%	Net income / revenue.
Operating cash flow margin	42.2%	Cash from operations / revenue.
Effective tax rate	19.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.1%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	20.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	9.1%	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	8.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	21.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.6%	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	-29.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-27.7%	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	16.5%	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	3.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	2.8%	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	4.0%	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	11.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.7%	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	4.2%	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	2.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.9%	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	4.6%	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	-0.2%	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	1.5%	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	0.6%	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
Liabilities / assets	90.6%	Total liabilities / total assets.
Goodwill and intangibles / assets	2.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$49.20B	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	$5.25	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	$19.10	Revenue / diluted weighted shares.
Operating cash flow per share	$8.05	Cash from operations / diluted weighted shares.
Book value per share	$43.36	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$31.64	Tangible book value / shares outstanding.
Cash per share	$42.76	(Cash + short-term investments) / shares outstanding.
Payout ratio	39.5%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$92.44B	Share price x shares outstanding.
Enterprise value	$25.95B	Market cap + total debt - cash - short-term investments.
P/E	11.3x	Market cap / net income. Only when net income is positive.
P/S	3.11x	Market cap / revenue.
P/B	1.37x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.88x	Market cap / tangible book value, when positive.
P/OCF	7.38x	Market cap / cash from operations, when positive.
EV/Sales	0.87x	Enterprise value / revenue.
Earnings yield	8.8%	Net income / market cap (the inverse of P/E).
Dividend yield	3.5%	Dividends paid over the period / market cap.
Shareholder yield	4.2%	(Dividends paid + share buybacks) / market cap.
PEG	1.45x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was US BANCORP DE's revenue in fiscal 2025?

US BANCORP DE reported revenue of $28.66B for fiscal 2025, 4.4% higher than the year before.

Was US BANCORP DE profitable in fiscal 2025?

Yes. Net income was $7.57B, a net margin of 26.4%.

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.

Open interactive statements, quarterly figures and charts

Back to US BANCORP DE