Pinnacle Financial Partners (PNFP) Financials

$96.19 +3.80 (+4.11%)

Closing price 08/22/2025 04:00 PM Eastern

Extended Trading

$96.18 -0.01 (-0.01%)

As of 08/22/2025 06:49 PM Eastern

Annual Income Statements for Pinnacle Financial Partners

This table shows Pinnacle Financial Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	96	127	174	359	401	305	512	546	547	460
Consolidated Net Income / (Loss)	96	127	174	359	401	312	527	561	562	475
Net Income / (Loss) Continuing Operations	96	127	174	359	401	312	527	561	562	475
Total Pre-Tax Income	143	191	298	450	498	371	652	697	714	581
Total Revenue	323	446	688	937	1,030	1,140	1,328	1,545	1,695	1,737
Net Interest Income / (Expense)	237	325	543	736	766	822	932	1,129	1,262	1,366
Total Interest Income	255	364	636	947	1,068	1,021	1,031	1,374	2,353	2,698
Loans and Leases Interest Income	233	336	578	850	955	920	924	1,182	1,950	2,221
Investment Securities Interest Income	21	25	53	84	98	95	100	149	238	318
Federal Funds Sold and Securities Borrowed Interest Income	1.48	2.68	5.08	12	15	6.77	7.55	43	165	159
Total Interest Expense	19	39	93	210	302	199	99	245	1,091	1,333
Deposits Interest Expense	13	24	60	151	232	136	54	204	983	1,203
Short-Term Borrowings Interest Expense	5.19	15	33	59	70	63	44	40	104	124
Federal Funds Purchased and Securities Sold Interest Expense	0.14	0.19	0.41	0.59	0.57	0.35	0.24	0.79	3.74	5.39
Total Non-Interest Income	87	121	145	201	264	318	396	416	433	371
Provision for Credit Losses	9.19	18	24	34	27	204	16	68	94	121
Total Non-Interest Expense	171	236	367	453	505	564	660	780	888	1,035
Salaries and Employee Benefits	106	141	210	272	313	334	436	510	532	621
Net Occupancy & Equipment Expense	27	35	54	74	85	88	95	110	139	166
Marketing Expense	4.86	6.54	8.32	12	13	11	13	21	24	27
Other Operating Expenses	26	37	53	76	80	112	108	131	186	215
Amortization Expense	1.97	4.28	8.82	11	9.91	9.79	8.52	7.81	7.09	6.25
Other Special Charges	-0.31	0.40	1.08	0.72	4.23	8.56	-0.71	0.28	0.32	0.22
Income Tax Expense	48	64	124	91	97	59	125	137	152	106
Preferred Stock Dividends Declared	-	-	-	0.00	0.00	7.60	15	15	15	15
Basic Earnings per Share	$2.58	$2.96	$2.73	$4.66	$5.25	$4.04	$6.79	$7.20	$7.20	$6.01
Weighted Average Basic Shares Outstanding	37.02M	43.04M	63.76M	77.11M	76.36M	75.38M	75.47M	75.74M	76.02M	76.46M
Diluted Earnings per Share	$2.52	$2.91	$2.70	$4.64	$5.22	$4.03	$6.75	$7.17	$7.14	$5.96
Weighted Average Diluted Shares Outstanding	37.97M	43.73M	64.33M	77.45M	76.76M	75.65M	75.93M	76.13M	76.65M	77.13M
Weighted Average Basic & Diluted Shares Outstanding	37M	43M	63.70M	77.10M	77.53M	75.99M	76.29M	76.64M	76.94M	77.37M

This table shows Pinnacle Financial Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	145	134	133	194	129	91	120	49	143	147
Consolidated Net Income / (Loss)	149	138	137	197	133	95	124	53	147	151
Net Income / (Loss) Continuing Operations	149	138	137	197	133	95	124	53	147	151
Total Pre-Tax Income	184	175	171	246	168	129	151	65	181	184
Total Revenue	411	402	402	489	408	396	428	367	467	475
Net Interest Income / (Expense)	306	319	312	315	317	317	318	332	352	364
Total Interest Income	372	451	506	575	627	645	650	668	695	684
Loans and Leases Interest Income	316	387	432	479	509	531	541	552	570	558
Investment Securities Interest Income	40	48	53	57	61	67	69	76	90	84
Federal Funds Sold and Securities Borrowed Interest Income	16	16	21	40	58	47	40	41	35	43
Total Interest Expense	66	132	194	260	310	328	332	336	343	321
Deposits Interest Expense	55	120	177	229	280	298	301	304	311	288
Short-Term Borrowings Interest Expense	11	11	17	30	29	29	30	30	31	32
Federal Funds Purchased and Securities Sold Interest Expense	0.18	0.47	0.60	0.78	1.07	1.30	1.40	1.32	1.50	1.18
Total Non-Interest Income	105	82	90	174	91	79	110	34	115	112
Provision for Credit Losses	27	25	19	32	27	16	34	30	26	30
Total Non-Interest Expense	199	202	212	212	213	251	242	271	259	262
Salaries and Employee Benefits	130	132	136	132	130	133	146	150	160	165
Net Occupancy & Equipment Expense	28	29	30	34	37	38	40	41	43	43
Marketing Expense	4.96	7.58	5.94	5.66	5.48	6.83	6.13	6.78	5.60	8.17
Other Operating Expenses	35	31	38	38	39	71	49	72	49	45
Amortization Expense	1.95	1.94	1.79	1.78	1.77	1.75	1.58	1.57	1.56	1.54
Other Special Charges	-0.09	0.18	0.10	0.06	0.03	0.13	0.08	0.02	0.06	0.06
Income Tax Expense	35	37	34	49	35	34	27	12	34	33
Preferred Stock Dividends Declared	3.80	3.80	3.80	3.80	3.80	3.80	3.80	3.80	3.80	3.80
Basic Earnings per Share	$1.91	$1.76	$1.76	$2.55	$1.69	$1.20	$1.58	$0.65	$1.87	$1.91
Weighted Average Basic Shares Outstanding	75.76M	75.74M	75.92M	76.03M	76.04M	76.02M	76.28M	76.51M	76.52M	76.46M
Diluted Earnings per Share	$1.91	$1.75	$1.76	$2.54	$1.69	$1.15	$1.57	$0.64	$1.86	$1.89
Weighted Average Diluted Shares Outstanding	75.98M	76.13M	76.04M	76.09M	76.20M	76.65M	76.43M	76.64M	76.77M	77.13M
Weighted Average Basic & Diluted Shares Outstanding	152.91M	76.64M	153.49M	153.52M	153.55M	76.94M	154.44M	154.47M	77.25M	77.37M

This table details how cash moves in and out of Pinnacle Financial Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	133	-137	596	-417	-195	3,435	140	-2,924	1,053	1,206
Net Cash From Operating Activities	85	152	166	471	431	427	657	605	478	904
Net Cash From Continuing Operating Activities	85	152	166	111	435	427	657	605	478	904
Net Income / (Loss) Continuing Operations	96	127	174	0.00	401	312	527	561	562	475
Consolidated Net Income / (Loss)	96	127	174	-	401	312	527	561	562	475
Provision For Loan Losses	9.19	18	24	34	27	204	16	68	94	121
Depreciation Expense	10	0.19	-24	-24	8.34	45	53	62	79	99
Amortization Expense	5.23	8.63	13	-19	20	38	59	66	59	51
Non-Cash Adjustments to Reconcile Net Income	-26	-0.14	34	3,289	-43	-85	-12	-43	-60	-1.92
Changes in Operating Assets and Liabilities, net	-9.85	-1.96	-55	85	22	-88	13	-109	-255	161
Net Cash From Investing Activities	-743	-1,279	-2,116	-2,969	-2,616	-3,568	-3,613	-6,684	-4,602	-3,672
Net Cash From Continuing Investing Activities	-743	-1,279	-2,426	-2,969	-2,616	-3,568	-3,613	-6,684	-4,602	-3,672
Purchase of Property, Leasehold Improvements and Equipment	-11	-17	-53	-24	-42	-39	-23	-64	-78	-95
Purchase of Investment Securities	-1,089	-1,652	-2,912	-3,467	-3,701	-4,184	-4,305	-7,146	-1,533	-5,210
Sale and/or Maturity of Investments	344	372	850	522	1,127	655	716	525	-2,991	1,632
Net Cash From Financing Activities	791	989	2,546	2,440	1,990	6,576	3,096	3,155	5,177	3,974
Net Cash From Continuing Financing Activities	791	989	2,545	2,440	1,997	6,581	3,102	3,165	5,183	3,974
Net Change in Deposits	783	822	1,488	2,399	1,332	7,525	3,599	3,661	3,579	4,303
Issuance of Debt	1,194	2,177	1,965	1,685	2,673	819	0.00	500	3,425	455
Issuance of Common Equity	0.00	0.00	192	0.00	0.00	-2.49	-3.79	-5.46	-3.73	-14
Repayment of Debt	-1,143	-2,008	-1,051	-1,542	-1,922	-1,874	-450	-955	-1,750	-700
Repurchase of Common Equity	-	0.00	0.00	-21	-61	-51	3.13	4.71	3.22	-5.84
Payment of Dividends	-18	-25	-36	-45	-50	-57	-71	-83	-84	-84
Other Financing Activities, Net	-25	23	-13	-36	25	4.39	24	42	15	21

This table details how cash moves in and out of Pinnacle Financial Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	172	-626	1,642	1,014	-681	-922	476	-328	455	603
Net Cash From Operating Activities	300	105	360	-111	122	107	197	86	121	500
Net Cash From Continuing Operating Activities	295	104	360	61	122	-65	197	86	121	500
Net Income / (Loss) Continuing Operations	149	138	137	197	133	95	124	53	147	151
Consolidated Net Income / (Loss)	149	138	137	197	133	95	124	53	147	151
Provision For Loan Losses	27	25	19	32	27	16	34	30	26	30
Depreciation Expense	15	18	20	20	19	19	23	25	25	26
Amortization Expense	16	15	15	15	15	14	14	14	11	12
Non-Cash Adjustments to Reconcile Net Income	13	4.96	15	35	-27	-83	5.72	-0.75	19	-26
Changes in Operating Assets and Liabilities, net	75	-96	154	-238	-44	-127	-4.00	-35	-107	307
Net Cash From Investing Activities	-793	-1,560	-1,563	-463	-1,312	-1,265	-536	-780	-823	-1,534
Net Cash From Continuing Investing Activities	-825	-1,621	-1,563	-463	-1,312	-1,265	-536	-780	-823	-1,534
Purchase of Property, Leasehold Improvements and Equipment	-24	-16	-36	-11	-15	-16	-17	-27	-25	-25
Purchase of Investment Securities	-1,404	-1,231	-1,579	-1,011	-1,474	2,530	-712	-1,005	-446	-3,047
Sale and/or Maturity of Investments	603	-373	51	362	177	-3,580	194	250	-356	1,545
Net Cash From Financing Activities	664	829	2,845	1,587	509	236	814	366	1,157	1,637
Net Cash From Continuing Financing Activities	664	839	2,845	1,587	509	242	814	366	1,157	1,637
Net Change in Deposits	1,095	1,271	1,217	1,544	573	244	862	368	1,185	1,888
Issuance of Common Equity	-0.00	-	-3.65	-	-	-0.08	-14	-	9.27	-9.27
Repayment of Debt	-400	-525	-475	-1,200	-75	-0.09	-450	-0.10	-0.11	-250
Repurchase of Common Equity	-0.35	9.14	-2.12	-0.31	-0.37	6.01	-4.14	-0.45	-9.85	8.59
Payment of Dividends	-21	-21	-21	-21	-21	-21	-21	-21	-21	-21
Other Financing Activities, Net	-9.03	4.36	-45	14	32	13	-8.07	19	-11	20

This table presents Pinnacle Financial Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	8,715	11,195	22,206	25,031	27,805	34,933	38,469	41,970	47,960	52,589
Cash and Due from Banks	75	85	177	203	158	427	188	300	229	320
Restricted Cash	-	-	-	-	137	-	-	-	87	94
Interest Bearing Deposits at Other Banks	219	98	497	517	211	3,522	3,831	877	1,915	3,022
Trading Account Securities	1,055	1,529	2,758	3,551	3,900	5,011	6,321	4,558	8,431	9,060
Loans and Leases, Net of Allowance	6,478	8,391	15,566	17,624	19,693	22,139	23,151	28,741	-353	-414
Allowance for Loan and Lease Losses	65	59	67	84	95	285	263	301	353	414
Loans Held for Sale	48	70	129	16	18	31	-	21	9.28	20
Premises and Equipment, Net	78	89	266	266	274	290	288	328	257	311
Goodwill	432	552	1,808	1,807	1,820	1,820	1,820	1,847	1,847	1,849
Intangible Assets	11	15	57	46	51	42	34	35	27	21
Other Assets	292	365	843	999	1,523	1,637	1,581	5,264	35,511	38,306
Total Liabilities & Shareholders' Equity	8,715	11,195	22,206	25,031	27,805	34,933	38,469	41,970	47,960	52,589
Total Liabilities	7,559	9,698	18,498	21,065	23,450	30,028	24,059	36,451	41,924	46,158
Non-Interest Bearing Deposits	1,890	2,399	4,381	4,309	4,795	7,392	10,461	9,813	7,907	8,170
Interest Bearing Deposits	5,082	6,360	12,070	14,540	15,386	20,313	12,180	25,148	30,633	34,673
Short-Term Debt	79	86	135	105	126	128	153	195	209	230
Accrued Interest Payable	2.59	5.57	10	24	42	25	-	19	67	56
Long-Term Debt	442	757	1,785	1,929	2,812	1,759	889	888	2,563	2,300
Other Long-Term Liabilities	64	90	115	159	289	411	377	387	545	729
Total Equity & Noncontrolling Interests	1,156	1,497	3,708	3,966	4,356	4,905	5,017	5,519	6,036	6,432
Total Preferred & Common Equity	1,156	1,497	3,708	3,966	4,356	4,905	5,311	5,519	6,036	6,432
Preferred Stock	0.00	0.00	0.00	0.00	0.00	217	-	217	217	217
Total Common Equity	1,156	1,497	3,708	3,966	4,356	4,687	5,017	5,302	5,819	6,215
Common Stock	881	1,130	3,193	3,185	3,141	3,104	3,046	3,151	3,186	3,207
Retained Earnings	279	381	519	833	1,184	1,408	1,864	2,342	2,785	3,176
Accumulated Other Comprehensive Income / (Loss)	-3.49	-14	-4.24	-52	31	176	107	-191	-153	-168

This table presents Pinnacle Financial Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	41,000	45,120	46,876	47,524	48,894	49,367	50,702
Cash and Due from Banks	187	209	470	297	234	270	470
Interest Bearing Deposits at Other Banks	1,617	2,597	3,363	2,855	2,472	2,108	2,363
Trading Account Securities	4,543	4,832	4,646	4,964	5,390	5,601	5,882
Loans and Leases, Net of Allowance	27,424	29,984	30,816	31,597	32,792	33,388	33,917
Loans and Leases	27,712	30,298	31,153	31,943	33,163	33,769	34,308
Allowance for Loan and Lease Losses	288	314	337	346	371	382	392
Loans Held for Sale	15	23	23	21	111	16	187
Premises and Equipment, Net	320	355	245	253	266	283	295
Goodwill	1,846	1,847	1,847	1,847	1,847	1,847	1,847
Intangible Assets	36	33	31	29	26	24	23
Other Assets	5,012	5,226	5,435	5,661	5,757	5,830	5,718
Total Liabilities & Shareholders' Equity	41,000	45,120	46,876	47,524	48,894	49,367	50,702
Total Liabilities	35,658	39,435	41,032	41,686	42,790	43,192	44,358
Non-Interest Bearing Deposits	10,568	9,018	8,437	8,324	7,959	7,933	8,229
Interest Bearing Deposits	23,122	27,160	29,286	29,971	31,443	31,837	32,725
Short-Term Debt	191	150	164	196	201	221	210
Accrued Interest Payable	10	32	54	67	58	59	59
Long-Term Debt	1,313	2,591	2,625	2,535	2,116	2,536	2,146
Other Long-Term Liabilities	454	485	467	592	587	606	562
Total Equity & Noncontrolling Interests	5,342	5,684	5,844	5,838	6,104	6,175	6,344
Total Preferred & Common Equity	5,342	5,684	5,844	5,838	6,104	6,175	6,344
Preferred Stock	217	217	217	217	217	217	217
Total Common Equity	5,125	5,467	5,627	5,621	5,887	5,958	6,127
Common Stock	3,143	3,156	3,165	3,174	3,178	3,188	3,198
Retained Earnings	2,225	2,458	2,634	2,746	2,888	2,920	3,046
Accumulated Other Comprehensive Income / (Loss)	-243	-147	-172	-300	-179	-151	-117

This table displays calculated financial ratios and metrics derived from Pinnacle Financial Partners' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	31.59%	38.01%	54.31%	36.18%	9.90%	10.65%	16.54%	16.36%	9.70%	2.44%
EBITDA Growth	32.76%	26.23%	43.46%	41.78%	29.22%	-13.60%	68.11%	8.03%	3.13%	-14.17%
EBIT Growth	35.44%	33.74%	55.70%	51.00%	10.58%	-25.36%	75.55%	6.99%	2.37%	-18.60%
NOPAT Growth	35.53%	33.21%	36.75%	106.60%	11.53%	-22.09%	68.84%	6.34%	0.25%	-15.49%
Net Income Growth	35.53%	33.21%	36.75%	106.60%	11.53%	-22.09%	68.84%	6.34%	0.25%	-15.49%
EPS Growth	25.37%	15.48%	-7.22%	71.85%	12.50%	-22.80%	67.49%	6.22%	-0.42%	-16.53%
Operating Cash Flow Growth	-11.00%	80.03%	8.89%	183.82%	-8.34%	-1.10%	54.06%	-7.99%	-20.92%	89.03%
Free Cash Flow Firm Growth	-192.28%	-36.37%	-481.58%	99.64%	-7,784.18%	191.19%	-1,098.17%	215.70%	-117.47%	119.55%
Invested Capital Growth	41.09%	39.54%	140.59%	6.59%	21.57%	-6.89%	127.52%	-57.27%	33.40%	1.74%
Revenue Q/Q Growth	11.52%	5.21%	15.25%	4.02%	0.00%	12.18%	-2.77%	4.20%	-0.32%	4.77%
EBITDA Q/Q Growth	11.02%	4.57%	8.07%	1.23%	196.82%	29.23%	-4.21%	1.22%	-5.05%	8.86%
EBIT Q/Q Growth	9.29%	7.84%	10.22%	8.90%	194.58%	31.23%	-5.85%	1.24%	-6.06%	10.44%
NOPAT Q/Q Growth	9.29%	7.83%	-5.07%	23.55%	0.19%	4.97%	4.49%	0.78%	-7.09%	13.44%
Net Income Q/Q Growth	9.29%	7.83%	-5.07%	23.55%	0.19%	4.97%	4.49%	0.78%	-7.09%	13.44%
EPS Q/Q Growth	4.56%	5.43%	-16.67%	26.78%	0.38%	4.13%	4.49%	0.70%	-7.75%	14.18%
Operating Cash Flow Q/Q Growth	22.33%	19.25%	-14.69%	29.25%	-7.55%	1.92%	16.63%	-15.86%	0.51%	76.79%
Free Cash Flow Firm Q/Q Growth	38.98%	-172.29%	11.10%	-106.67%	-14.60%	31.79%	-1,442.46%	1,852.46%	-46.97%	11.92%
Invested Capital Q/Q Growth	-11.30%	6.11%	-4.48%	-0.23%	1.40%	-1.18%	128.19%	-3.55%	2.79%	3.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	49.08%	44.89%	41.73%	43.45%	51.09%	39.89%	57.54%	53.42%	50.22%	42.08%
EBIT Margin	44.28%	42.91%	43.30%	48.01%	48.31%	32.59%	49.08%	45.13%	42.12%	33.47%
Profit (Net Income) Margin	29.55%	28.53%	25.28%	38.35%	38.92%	27.41%	39.70%	36.28%	33.16%	27.35%
Tax Burden Percent	66.74%	66.48%	58.39%	79.88%	80.57%	84.10%	80.89%	80.39%	78.73%	81.74%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	33.26%	33.52%	41.62%	20.12%	19.43%	15.90%	19.11%	19.61%	21.27%	18.26%
Return on Invested Capital (ROIC)	6.67%	6.34%	4.37%	6.18%	6.03%	4.43%	4.74%	5.09%	7.30%	5.35%
ROIC Less NNEP Spread (ROIC-NNEP)	6.67%	6.34%	4.37%	6.18%	6.03%	4.43%	4.74%	5.09%	7.30%	5.35%
Return on Net Nonoperating Assets (RNNOA)	3.09%	3.26%	2.32%	3.19%	3.60%	2.31%	5.89%	5.56%	2.43%	2.27%
Return on Equity (ROE)	9.75%	9.59%	6.69%	9.37%	9.63%	6.75%	10.63%	10.64%	9.73%	7.62%
Cash Return on Invested Capital (CROIC)	-27.42%	-26.67%	-78.19%	-0.19%	-13.44%	11.57%	-73.13%	85.33%	-21.33%	3.62%
Operating Return on Assets (OROA)	1.94%	1.92%	1.78%	1.91%	1.88%	1.18%	1.78%	1.73%	1.59%	1.16%
Return on Assets (ROA)	1.30%	1.28%	1.04%	1.52%	1.52%	1.00%	1.44%	1.39%	1.25%	0.94%
Return on Common Equity (ROCE)	9.75%	9.59%	6.69%	9.37%	9.63%	6.59%	10.40%	10.42%	9.36%	7.36%
Return on Equity Simple (ROE_SIMPLE)	8.26%	8.50%	4.69%	9.06%	9.20%	6.37%	9.93%	10.16%	9.31%	7.39%
Net Operating Profit after Tax (NOPAT)	96	127	174	359	401	312	527	561	562	475
NOPAT Margin	29.55%	28.53%	25.28%	38.35%	38.92%	27.41%	39.70%	36.28%	33.16%	27.35%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	42.71%	40.90%	39.53%	38.16%	39.92%	38.05%	40.97%	41.47%	40.98%	46.85%
Operating Expenses to Revenue	52.88%	52.98%	53.26%	48.32%	49.05%	49.53%	49.70%	50.47%	52.36%	59.59%
Earnings before Interest and Taxes (EBIT)	143	191	298	450	498	371	652	697	714	581
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	159	200	287	407	526	455	764	826	851	731
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.65	1.97	1.29	0.85	1.07	1.00	1.40	1.03	1.14	1.42
Price to Tangible Book Value (P/TBV)	2.68	3.16	2.59	1.59	1.87	1.66	2.23	1.60	1.68	2.03
Price to Revenue (P/Rev)	5.90	6.60	6.95	3.59	4.51	4.12	5.30	3.54	3.90	5.08
Price to Earnings (P/E)	19.97	23.13	27.47	9.36	11.57	15.39	13.75	10.03	12.10	19.18
Dividend Yield	1.03%	0.88%	0.91%	1.34%	1.06%	1.03%	0.78%	1.23%	1.02%	0.77%
Earnings Yield	5.01%	4.32%	3.64%	10.69%	8.64%	6.50%	7.27%	9.97%	8.26%	5.21%
Enterprise Value to Invested Capital (EV/IC)	1.26	1.54	1.05	0.78	0.97	0.42	0.26	0.85	0.84	0.91
Enterprise Value to Revenue (EV/Rev)	6.52	8.08	8.60	4.99	6.85	2.49	3.06	3.62	4.35	4.68
Enterprise Value to EBITDA (EV/EBITDA)	13.29	17.99	20.61	11.48	13.40	6.23	5.32	6.77	8.66	11.13
Enterprise Value to EBIT (EV/EBIT)	14.73	18.82	19.87	10.39	14.17	7.63	6.23	8.02	10.33	13.99
Enterprise Value to NOPAT (EV/NOPAT)	22.07	28.31	34.03	13.01	17.59	9.07	7.71	9.97	13.12	17.12
Enterprise Value to Operating Cash Flow (EV/OCF)	24.91	23.65	35.70	9.93	16.34	6.64	6.18	9.25	15.42	8.99
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	3.48	0.00	0.59	0.00	25.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.45	0.56	0.52	0.51	0.67	0.38	0.21	0.20	0.46	0.39
Long-Term Debt to Equity	0.38	0.51	0.48	0.49	0.65	0.36	0.18	0.16	0.42	0.36
Financial Leverage	0.46	0.51	0.53	0.52	0.60	0.52	1.24	1.09	0.33	0.43
Leverage Ratio	7.52	7.51	6.42	6.16	6.35	6.77	7.40	7.63	7.78	8.06
Compound Leverage Factor	7.52	7.51	6.42	6.16	6.35	6.77	7.40	7.63	7.78	8.06
Debt to Total Capital	31.07%	36.02%	34.12%	33.89%	40.28%	27.78%	17.19%	16.41%	31.48%	28.23%
Short-Term Debt to Total Capital	4.72%	3.66%	2.40%	1.75%	1.73%	1.89%	2.52%	2.95%	2.38%	2.57%
Long-Term Debt to Total Capital	26.36%	32.36%	31.72%	32.15%	38.55%	25.89%	14.67%	13.46%	29.10%	25.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	3.20%	0.00%	3.29%	2.47%	2.42%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	68.93%	63.98%	65.88%	66.11%	59.72%	69.02%	82.81%	80.30%	66.06%	69.35%
Debt to EBITDA	3.29	4.21	6.69	4.99	5.58	4.15	1.36	1.31	3.26	3.46
Net Debt to EBITDA	1.26	3.29	3.97	3.22	4.58	-4.56	-3.90	-0.11	0.64	-1.24
Long-Term Debt to EBITDA	2.79	3.78	6.22	4.74	5.34	3.87	1.16	1.08	3.01	3.15
Debt to NOPAT	5.45	6.62	11.04	5.66	7.33	6.04	1.97	1.93	4.93	5.33
Net Debt to NOPAT	2.09	5.18	6.56	3.65	6.01	-6.64	-5.65	-0.17	0.96	-1.91
Long-Term Debt to NOPAT	4.63	5.95	10.26	5.37	7.01	5.63	1.69	1.58	4.56	4.84
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	2.34%	2.19%	2.06%	3.76%	3.48%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-393	-536	-3,115	-11	-893	815	-8,133	9,409	-1,643	321
Operating Cash Flow to CapEx	778.26%	892.93%	310.03%	1,983.05%	1,023.65%	1,100.99%	2,836.50%	952.31%	611.33%	956.78%
Free Cash Flow to Firm to Interest Expense	-21.19	-13.87	-33.56	-0.05	-2.96	4.09	-82.30	38.46	-1.51	0.24
Operating Cash Flow to Interest Expense	4.56	3.94	1.79	2.24	1.43	2.14	6.65	2.47	0.44	0.68
Operating Cash Flow Less CapEx to Interest Expense	3.98	3.50	1.21	2.12	1.29	1.95	6.42	2.21	0.37	0.61
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.03
Fixed Asset Turnover	4.32	5.35	3.88	3.53	3.82	4.04	4.59	5.02	5.80	6.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,677	2,339	5,629	5,999	7,294	6,791	15,451	6,603	8,808	8,962
Invested Capital Turnover	0.23	0.22	0.17	0.16	0.16	0.16	0.12	0.14	0.22	0.20
Increase / (Decrease) in Invested Capital	488	663	3,289	371	1,294	-502	8,660	-8,849	2,206	154
Enterprise Value (EV)	2,108	3,602	5,921	4,675	7,051	2,834	4,064	5,593	7,378	8,131
Market Capitalization	1,908	2,943	4,780	3,363	4,640	4,691	7,042	5,470	6,618	8,819
Book Value per Share	$28.29	$32.41	$47.71	$50.92	$56.89	$61.80	$65.90	$69.35	$75.79	$80.46
Tangible Book Value per Share	$17.45	$20.14	$23.72	$27.12	$32.45	$37.25	$41.55	$44.74	$51.37	$56.24
Total Capital	1,677	2,339	5,629	5,999	7,294	6,791	6,059	6,603	8,808	8,962
Total Debt	521	843	1,921	2,033	2,938	1,887	1,041	1,083	2,773	2,530
Total Long-Term Debt	442	757	1,785	1,929	2,812	1,759	889	888	2,563	2,300
Net Debt	200	659	1,141	1,312	2,411	-2,075	-2,978	-94	542	-906
Capital Expenditures (CapEx)	11	17	53	24	42	39	23	64	78	95
Net Nonoperating Expense (NNE)	-0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	521	843	1,921	2,033	2,938	1,887	10,434	1,083	2,773	2,530
Total Depreciation and Amortization (D&A)	16	8.82	-11	-43	29	83	112	128	137	150
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.58	$2.96	$2.73	$4.66	$5.25	$4.04	$6.79	$7.20	$7.20	$6.01
Adjusted Weighted Average Basic Shares Outstanding	37.02M	43.04M	63.76M	77.11M	76.36M	75.38M	75.47M	75.74M	76.02M	76.46M
Adjusted Diluted Earnings per Share	$2.52	$2.91	$2.70	$4.64	$5.22	$4.03	$6.75	$7.17	$7.14	$5.96
Adjusted Weighted Average Diluted Shares Outstanding	37.97M	43.73M	64.33M	77.45M	76.76M	75.65M	75.93M	76.13M	76.65M	77.13M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	41.04M	49.76M	77.89M	77.53M	77.53M	75.99M	76.29M	76.64M	76.94M	77.37M
Normalized Net Operating Profit after Tax (NOPAT)	99	135	193	367	404	320	527	561	562	475
Normalized NOPAT Margin	30.48%	30.34%	28.07%	39.12%	39.25%	28.04%	39.66%	36.30%	33.17%	27.36%
Pre Tax Income Margin	44.28%	42.91%	43.30%	48.01%	48.31%	32.59%	49.08%	45.13%	42.12%	33.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.72	4.96	3.21	2.14	1.65	1.86	6.60	2.85	0.65	0.44
NOPAT to Interest Expense	5.15	3.29	1.87	1.71	1.33	1.57	5.34	2.29	0.52	0.36
EBIT Less CapEx to Interest Expense	7.13	4.51	2.63	2.03	1.51	1.67	6.36	2.59	0.58	0.37
NOPAT Less CapEx to Interest Expense	4.57	2.85	1.30	1.60	1.19	1.37	5.10	2.03	0.44	0.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.17%	19.43%	20.64%	12.65%	12.43%	18.25%	13.41%	14.87%	14.93%	17.73%
Augmented Payout Ratio	19.17%	19.43%	20.64%	18.40%	27.75%	34.51%	12.81%	14.03%	14.36%	18.96%

This table displays calculated financial ratios and metrics derived from Pinnacle Financial Partners' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.18%	18.35%	17.14%	25.42%	-0.62%	-1.35%	6.57%	-25.08%	14.39%	19.93%
EBITDA Growth	8.77%	5.02%	10.00%	30.68%	-6.28%	-21.82%	-8.90%	-63.24%	7.78%	36.64%
EBIT Growth	8.52%	5.13%	8.68%	35.76%	-8.63%	-26.34%	-11.67%	-73.57%	7.84%	42.63%
NOPAT Growth	8.85%	3.23%	6.32%	35.95%	-10.80%	-31.10%	-9.71%	-73.06%	10.62%	59.26%
Net Income Growth	8.85%	3.23%	6.32%	35.95%	-10.80%	-31.10%	-9.71%	-73.06%	10.62%	59.26%
EPS Growth	9.14%	2.94%	6.67%	36.56%	-11.52%	-34.29%	-10.80%	-74.80%	10.06%	64.35%
Operating Cash Flow Growth	98.02%	-52.13%	590.53%	-174.67%	-59.35%	2.31%	-45.18%	177.51%	-0.46%	366.62%
Free Cash Flow Firm Growth	-68.81%	205.39%	-20,585.47%	-396.81%	-2,245.03%	-123.49%	108.61%	79.66%	100.95%	99.88%
Invested Capital Growth	1.10%	-57.27%	23.66%	19.45%	25.17%	33.40%	-0.04%	3.46%	1.54%	1.74%
Revenue Q/Q Growth	5.26%	-2.15%	-0.01%	21.77%	-16.60%	-2.87%	8.02%	-14.38%	27.33%	1.84%
EBITDA Q/Q Growth	0.31%	-3.61%	-0.38%	35.66%	-28.06%	-19.59%	16.08%	-45.26%	110.94%	1.95%
EBIT Q/Q Growth	1.50%	-4.85%	-2.09%	43.58%	-31.69%	-23.29%	17.40%	-57.03%	178.68%	1.46%
NOPAT Q/Q Growth	2.43%	-7.27%	-0.42%	43.73%	-32.79%	-28.37%	30.50%	-57.11%	175.93%	3.11%
Net Income Q/Q Growth	2.43%	-7.27%	-0.42%	43.73%	-32.79%	-28.37%	30.50%	-57.11%	175.93%	3.11%
EPS Q/Q Growth	2.69%	-8.38%	0.57%	44.32%	-33.46%	-31.95%	36.52%	-59.24%	190.63%	1.61%
Operating Cash Flow Q/Q Growth	102.63%	-65.10%	243.66%	-130.72%	210.31%	-12.14%	84.13%	-56.56%	41.65%	311.86%
Free Cash Flow Firm Q/Q Growth	130.49%	12,018.70%	-116.41%	18.08%	-31.66%	-32.69%	106.01%	-293.55%	106.12%	-116.21%
Invested Capital Q/Q Growth	-5.28%	-3.55%	27.59%	2.47%	-0.74%	2.79%	-4.39%	6.06%	-2.59%	3.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	52.45%	51.67%	51.47%	57.35%	49.46%	40.95%	44.00%	28.13%	46.61%	46.65%
EBIT Margin	44.78%	43.54%	42.63%	50.26%	41.17%	32.51%	35.33%	17.73%	38.81%	38.66%
Profit (Net Income) Margin	36.21%	34.31%	34.17%	40.33%	32.50%	23.96%	28.95%	14.50%	31.43%	31.82%
Tax Burden Percent	80.86%	78.80%	80.15%	80.23%	78.94%	73.71%	81.93%	81.79%	80.98%	82.30%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	19.14%	21.20%	19.85%	19.77%	21.06%	26.29%	18.07%	18.21%	19.02%	17.70%
Return on Invested Capital (ROIC)	7.89%	4.81%	7.19%	8.66%	7.17%	5.27%	5.92%	2.64%	6.03%	6.22%
ROIC Less NNEP Spread (ROIC-NNEP)	7.89%	4.81%	7.19%	8.66%	7.17%	5.27%	5.92%	2.64%	6.03%	6.22%
Return on Net Nonoperating Assets (RNNOA)	2.31%	5.26%	2.80%	3.65%	2.72%	1.76%	2.54%	1.22%	2.52%	2.65%
Return on Equity (ROE)	10.20%	10.06%	10.00%	12.31%	9.89%	7.03%	8.46%	3.86%	8.55%	8.87%
Cash Return on Invested Capital (CROIC)	7.08%	85.33%	-13.69%	-9.89%	-14.51%	-21.33%	6.55%	1.20%	3.33%	3.62%
Operating Return on Assets (OROA)	1.71%	1.67%	1.62%	1.97%	1.58%	1.23%	1.29%	0.59%	1.31%	1.34%
Return on Assets (ROA)	1.39%	1.32%	1.30%	1.58%	1.25%	0.90%	1.06%	0.48%	1.06%	1.10%
Return on Common Equity (ROCE)	9.78%	9.86%	9.60%	11.83%	9.50%	6.77%	8.15%	3.72%	8.25%	8.56%
Return on Equity Simple (ROE_SIMPLE)	10.42%	0.00%	10.01%	10.63%	10.36%	0.00%	8.99%	6.55%	6.60%	0.00%
Net Operating Profit after Tax (NOPAT)	149	138	137	197	133	95	124	53	147	151
NOPAT Margin	36.21%	34.31%	34.17%	40.33%	32.50%	23.96%	28.95%	14.50%	31.43%	31.82%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	39.64%	41.99%	42.81%	35.12%	42.33%	44.96%	44.79%	54.00%	44.65%	45.36%
Operating Expenses to Revenue	48.53%	50.29%	52.70%	43.26%	52.26%	63.37%	56.61%	74.04%	55.56%	55.10%
Earnings before Interest and Taxes (EBIT)	184	175	171	246	168	129	151	65	181	184
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	215	208	207	281	202	162	188	103	218	222
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.18	1.03	0.76	0.76	0.90	1.14	1.11	1.04	1.23	1.42
Price to Tangible Book Value (P/TBV)	1.87	1.60	1.16	1.14	1.36	1.68	1.63	1.51	1.77	2.03
Price to Revenue (P/Rev)	4.08	3.54	2.59	2.52	2.99	3.90	3.81	3.86	4.55	5.08
Price to Earnings (P/E)	11.18	10.03	7.49	7.07	8.61	12.10	12.29	15.83	18.71	19.18
Dividend Yield	1.06%	1.23%	1.63%	1.58%	1.33%	1.02%	1.03%	1.10%	0.90%	0.77%
Earnings Yield	8.95%	9.97%	13.35%	14.14%	11.62%	8.26%	8.14%	6.32%	5.34%	5.21%
Enterprise Value to Invested Capital (EV/IC)	0.87	0.85	0.51	0.40	0.57	0.84	0.76	0.76	0.84	0.91
Enterprise Value to Revenue (EV/Rev)	4.02	3.62	2.68	2.03	2.87	4.35	3.71	4.23	4.40	4.68
Enterprise Value to EBITDA (EV/EBITDA)	7.31	6.77	5.09	3.80	5.44	8.66	7.67	10.31	10.86	11.13
Enterprise Value to EBIT (EV/EBIT)	8.66	8.02	6.05	4.46	6.41	10.33	9.20	13.18	13.85	13.99
Enterprise Value to NOPAT (EV/NOPAT)	10.72	9.97	7.56	5.57	8.06	13.12	11.64	16.71	17.41	17.12
Enterprise Value to Operating Cash Flow (EV/OCF)	8.30	9.25	4.71	5.29	10.24	15.42	20.23	13.21	14.25	8.99
Enterprise Value to Free Cash Flow (EV/FCFF)	12.38	0.59	0.00	0.00	0.00	0.00	11.58	63.91	25.39	25.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.28	0.20	0.48	0.48	0.47	0.46	0.38	0.45	0.37	0.39
Long-Term Debt to Equity	0.25	0.16	0.46	0.45	0.43	0.42	0.35	0.41	0.34	0.36
Financial Leverage	0.29	1.09	0.39	0.42	0.38	0.33	0.43	0.46	0.42	0.43
Leverage Ratio	7.36	7.63	7.71	7.80	7.92	7.78	7.98	8.01	8.06	8.06
Compound Leverage Factor	7.36	7.63	7.71	7.80	7.92	7.78	7.98	8.01	8.06	8.06
Debt to Total Capital	21.96%	16.41%	32.53%	32.31%	31.87%	31.48%	27.52%	30.87%	27.08%	28.23%
Short-Term Debt to Total Capital	2.78%	2.95%	1.78%	1.90%	2.29%	2.38%	2.39%	2.47%	2.41%	2.57%
Long-Term Debt to Total Capital	19.18%	13.46%	30.75%	30.41%	29.59%	29.10%	25.13%	28.40%	24.67%	25.66%
Preferred Equity to Total Capital	3.17%	3.29%	2.58%	2.52%	2.53%	2.47%	2.58%	2.43%	2.50%	2.42%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	74.86%	80.30%	64.89%	65.18%	65.59%	66.06%	69.90%	66.70%	70.42%	69.35%
Debt to EBITDA	1.84	1.31	3.25	3.06	3.05	3.26	2.78	4.21	3.51	3.46
Net Debt to EBITDA	-0.37	-0.11	-0.08	-1.15	-0.47	0.64	-0.47	0.58	-0.71	-1.24
Long-Term Debt to EBITDA	1.61	1.08	3.07	2.88	2.83	3.01	2.54	3.87	3.20	3.15
Debt to NOPAT	2.70	1.93	4.82	4.49	4.51	4.93	4.22	6.81	5.63	5.33
Net Debt to NOPAT	-0.54	-0.17	-0.12	-1.68	-0.70	0.96	-0.71	0.94	-1.14	-1.91
Long-Term Debt to NOPAT	2.36	1.58	4.55	4.23	4.19	4.56	3.86	6.27	5.13	4.84
Noncontrolling Interest Sharing Ratio	4.12%	2.06%	3.96%	3.89%	3.88%	3.76%	3.68%	3.61%	3.56%	3.48%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	74	8,986	-1,475	-1,208	-1,591	-2,111	127	-246	15	-2.44
Operating Cash Flow to CapEx	1,248.09%	652.29%	1,025.42%	0.00%	805.79%	653.86%	1,147.86%	325.42%	600.83%	2,001.86%
Free Cash Flow to Firm to Interest Expense	1.12	68.22	-7.61	-4.65	-5.13	-6.44	0.38	-0.73	0.04	-0.01
Operating Cash Flow to Interest Expense	4.55	0.80	1.86	-0.43	0.39	0.33	0.59	0.25	0.35	1.56
Operating Cash Flow Less CapEx to Interest Expense	4.18	0.67	1.68	0.29	0.34	0.28	0.54	0.18	0.29	1.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03
Fixed Asset Turnover	4.87	5.02	4.92	6.23	5.94	5.80	5.55	6.06	6.05	6.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,846	6,603	8,425	8,633	8,569	8,808	8,422	8,932	8,701	8,962
Invested Capital Turnover	0.22	0.14	0.21	0.21	0.22	0.22	0.20	0.18	0.19	0.20
Increase / (Decrease) in Invested Capital	75	-8,849	1,612	1,405	1,723	2,206	-3.00	299	132	154
Enterprise Value (EV)	5,966	5,593	4,300	3,459	4,874	7,378	6,388	6,762	7,291	8,131
Market Capitalization	6,048	5,470	4,149	4,286	5,078	6,618	6,559	6,166	7,551	8,819
Book Value per Share	$67.07	$69.35	$71.33	$73.32	$73.22	$75.79	$77.17	$77.15	$79.33	$80.46
Tangible Book Value per Share	$42.44	$44.74	$46.81	$48.85	$48.78	$51.37	$52.62	$52.92	$55.12	$56.24
Total Capital	6,846	6,603	8,425	8,633	8,569	8,808	8,422	8,932	8,701	8,962
Total Debt	1,504	1,083	2,741	2,789	2,731	2,773	2,318	2,757	2,356	2,530
Total Long-Term Debt	1,313	888	2,591	2,625	2,535	2,563	2,116	2,536	2,146	2,300
Net Debt	-300	-94	-66	-1,044	-421	542	-389	379	-477	-906
Capital Expenditures (CapEx)	24	16	35	-187	15	16	17	26	20	25
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	1,504	1,083	2,741	2,789	2,731	2,773	2,318	2,757	2,356	2,530
Total Depreciation and Amortization (D&A)	32	33	36	35	34	33	37	38	36	38
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.91	$1.76	$1.76	$2.55	$1.69	$1.20	$1.58	$0.65	$1.87	$1.91
Adjusted Weighted Average Basic Shares Outstanding	75.76M	75.74M	75.92M	76.03M	76.04M	76.02M	76.28M	76.51M	76.52M	76.46M
Adjusted Diluted Earnings per Share	$1.91	$1.75	$1.76	$2.54	$1.69	$1.15	$1.57	$0.64	$1.86	$1.89
Adjusted Weighted Average Diluted Shares Outstanding	75.98M	76.13M	76.04M	76.09M	76.20M	76.65M	76.43M	76.64M	76.77M	77.13M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	152.91M	76.64M	153.49M	153.52M	153.55M	76.94M	154.44M	154.47M	77.25M	77.37M
Normalized Net Operating Profit after Tax (NOPAT)	149	138	137	197	133	95	124	53	147	151
Normalized NOPAT Margin	36.19%	34.34%	34.19%	40.34%	32.50%	23.99%	28.97%	14.51%	31.44%	31.83%
Pre Tax Income Margin	44.78%	43.54%	42.63%	50.26%	41.17%	32.51%	35.33%	17.73%	38.81%	38.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.79	1.33	0.88	0.95	0.54	0.39	0.46	0.19	0.53	0.57
NOPAT to Interest Expense	2.25	1.05	0.71	0.76	0.43	0.29	0.37	0.16	0.43	0.47
EBIT Less CapEx to Interest Expense	2.42	1.21	0.70	1.67	0.49	0.34	0.40	0.12	0.47	0.50
NOPAT Less CapEx to Interest Expense	1.89	0.92	0.53	1.48	0.38	0.24	0.32	0.08	0.37	0.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	14.41%	14.87%	14.69%	13.48%	13.85%	14.93%	15.31%	20.78%	20.09%	17.73%
Augmented Payout Ratio	14.10%	14.03%	13.60%	12.45%	12.81%	14.36%	16.26%	22.10%	23.64%	18.96%

Key Financial Trends

Pinnacle Financial Partners (PNFP) has demonstrated steady revenue growth and robust profitability over the past four years, supported by growth in net interest income and controlled expense management.

Key Positive Developments:

Net interest income increased from $319 million in Q4 2022 to $364 million in Q4 2024, reflecting growth in loan and lease interest income.
Total revenue increased from $402 million in Q4 2022 to $475 million in Q4 2024, showing steady top-line growth.
Net income attributable to common shareholders rose from approximately $134 million in Q4 2022 to $147 million in Q4 2024, indicating growing profitability.
Earnings per share increased from $1.76 (basic) in Q4 2022 to $1.91 in Q4 2024, supported by controlled share count and earnings growth.
Robust cash flow from operating activities, reaching nearly $500 million in Q4 2024, demonstrates strong cash generation capability.
Deposits grew significantly, with net change in deposits increasing to nearly $1.9 billion in Q4 2024 from $1.27 billion in Q4 2022, indicating strong funding growth.
The allowance for loan and lease losses increased slightly but remains well-covered relative to loan portfolio size, supporting credit quality.
Total assets grew consistently from about $41 billion in Q3 2022 to over $50 billion in Q3 2024, reflecting expansion in the bank’s asset base.
Common equity increased from roughly $5.1 billion in Q3 2022 to over $6.1 billion in Q3 2024, strengthening capital position.

Neutral Points:

Provision for credit losses fluctuated quarter-to-quarter but remains within a moderate range relative to loan balances, suggesting prudent credit risk management.
Total non-interest income fluctuates across quarters and years, driven by investment securities income and other operating revenues.
Short-term debt and long-term debt levels have varied but remain manageable relative to total liabilities and equity.
Pinnacle consistently pays dividends (~$0.22 per share quarterly), which supports shareholder returns but limits retained earnings growth.
Share repurchases and issuances have been balanced mostly to offset dilution from equity issuance and employee stock plans.

Areas of Concern:

Total non-interest expense increased to approximately $262 million in Q4 2024, up from $202 million in Q4 2022, indicating rising operational costs.
Net cash from investing activities has consistently been negative due to heavy purchases of investment securities, ranging from -$462 million to over -$1.5 billion in recent quarters, pressuring cash flows.
Net change in cash and equivalents showed large negative swings in some quarters, reflecting potentially volatile liquidity requirements.
Accumulated other comprehensive income / (loss) remains negative and sizable (around -$116 million as of Q3 2024), which may impact overall equity volatility.

Overall, Pinnacle Financial Partners exhibits solid growth in earnings, revenue, and asset base supported by strong net interest income and expanding deposits. The company maintains strong capital and liquidity levels. Investors should monitor operating expense growth and investment activity cash outflows, along with credit quality trends. The steady dividend and per-share earnings gains support continued shareholder value creation.

08/24/25 01:53 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Pinnacle Financial Partners' Financials

When does Pinnacle Financial Partners' fiscal year end?

According to the most recent income statement we have on file, Pinnacle Financial Partners' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Pinnacle Financial Partners' net income changed over the last 9 years?

Pinnacle Financial Partners' net income appears to be on an upward trend, with a most recent value of $475.06 million in 2024, rising from $95.51 million in 2015. The previous period was $562.15 million in 2023. Find out what analysts predict for Pinnacle Financial Partners in the coming months.

How has Pinnacle Financial Partners' revenue changed over the last 9 years?

Over the last 9 years, Pinnacle Financial Partners' total revenue changed from $323.16 million in 2015 to $1.74 billion in 2024, a change of 437.4%.

How much debt does Pinnacle Financial Partners have?

Pinnacle Financial Partners' total liabilities were at $46.16 billion at the end of 2024, a 10.1% increase from 2023, and a 510.6% increase since 2015.

How much cash does Pinnacle Financial Partners have?

In the past 9 years, Pinnacle Financial Partners' cash and equivalents has ranged from $75.08 million in 2015 to $427.08 million in 2020, and is currently $320.32 million as of their latest financial filing in 2024.

How has Pinnacle Financial Partners' book value per share changed over the last 9 years?

Over the last 9 years, Pinnacle Financial Partners' book value per share changed from 28.29 in 2015 to 80.46 in 2024, a change of 184.4%.

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This page (NASDAQ:PNFP) was last updated on 8/24/2025 by MarketBeat.com Staff

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Pinnacle Financial Partners (PNFP) Financials

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