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The PNC Financial Services Group (PNC) Financials

The PNC Financial Services Group logo
$205.72 -0.32 (-0.15%)
Closing price 08/28/2025 03:59 PM Eastern
Extended Trading
$204.02 -1.70 (-0.83%)
As of 04:24 AM Eastern
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Annual Income Statements for The PNC Financial Services Group

Annual Income Statements for The PNC Financial Services Group

This table shows The PNC Financial Services Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 3,947 3,881 3,688 5,076 5,061 5,129 7,284 5,436 5,735 5,153 5,529
Consolidated Net Income / (Loss)		 4,207 4,143 3,985 5,388 5,346 5,418 7,558 5,725 6,113 5,647 5,953
Net Income / (Loss) Continuing Operations		 4,207 4,143 3,985 5,388 4,558 4,591 3,003 5,725 6,113 5,647 5,953
Total Pre-Tax Income 		5,614 5,507 5,253 5,490 5,486 5,492 3,429 6,988 7,473 6,736 7,242
Total Revenue		 15,375 15,225 15,162 16,329 16,190 16,839 16,901 19,211 21,120 21,490 21,555
Net Interest Income / (Expense)		 8,525 8,278 8,391 9,108 9,721 9,965 9,946 10,647 13,014 13,916 13,499
Total Interest Income		 9,431 9,323 9,652 10,814 12,582 13,762 11,307 11,134 15,436 24,308 26,384
Loans and Leases Interest Income		 7,427 7,203 7,414 8,238 9,580 10,525 8,927 9,007 11,795 18,299 19,346
Investment Securities Interest Income		 1,624 1,679 1,826 1,998 2,261 2,426 2,041 1,834 2,726 3,545 4,123
Other Interest Income		 380 441 412 578 741 811 339 293 915 2,464 2,915
Total Interest Expense		 906 1,045 1,261 1,706 2,861 3,797 1,361 487 2,422 10,392 12,885
Deposits Interest Expense		 325 403 430 623 1,229 1,986 643 126 1,267 6,609 8,401
Long-Term Debt Interest Expense		 581 642 831 1,083 1,632 1,811 718 361 1,155 3,783 4,484
Total Non-Interest Income		 6,850 6,947 6,771 7,221 6,469 6,874 6,955 8,564 8,106 7,574 8,056
Other Non-Interest Income		 2,033 2,057 6,771 - 6,469 6,874 6,955 - 8,106 7,574 8,056
Provision for Credit Losses		 273 255 433 441 408 773 3,175 -779 477 742 789
Total Non-Interest Expense		 9,488 9,463 9,476 10,398 10,296 10,574 10,297 13,002 13,170 14,012 13,524
Salaries and Employee Benefits		 4,611 4,831 4,873 5,268 5,471 5,647 5,673 7,141 7,244 7,428 7,302
Net Occupancy & Equipment Expense		 1,692 1,767 1,835 1,933 1,921 2,044 2,002 2,351 2,387 2,393 2,481
Marketing Expense		 253 249 247 244 285 301 236 319 355 350 362
Other Operating Expenses		 2,932 2,616 2,521 2,953 2,619 2,582 2,386 3,191 3,184 3,841 3,379
Income Tax Expense		 1,407 1,364 1,268 102 928 901 426 1,263 1,360 1,089 1,289
Preferred Stock Dividends Declared		 237 225 215 262 240 240 233 238 301 417 352
Net Income / (Loss) Attributable to Noncontrolling Interest		 23 37 82 50 45 49 41 51 72 69 64
Basic Earnings per Share		 $7.44 $7.52 $7.42 $10.49 $10.79 $11.43 $16.99 $12.71 $13.86 $12.80 $13.76
Weighted Average Basic Shares Outstanding		 529M 514M 494M 481M 467M 447M 427M 426M 412M 401M 399M
Diluted Earnings per Share		 $7.30 $7.39 $7.30 $10.36 $10.71 $11.39 $16.96 $12.70 $13.85 $12.79 $13.74
Weighted Average Diluted Shares Outstanding		 537M 521M 500M 486M 470M 448M 427M 426M 412M 401M 400M
Weighted Average Basic & Diluted Shares Outstanding		 530.50M 516.10M 497M 483.90M 453.61M 428.73M 424.02M 418.45M 399.68M 397.81M 395.75M
Cash Dividends to Common per Share		 - $2.01 $2.12 $2.60 - - - $4.80 $5.75 $6.10 $6.30

Quarterly Income Statements for The PNC Financial Services Group

This table shows The PNC Financial Services Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,407 1,607 1,354 1,448 744 1,247 1,362 1,406 1,514 1,408 1,542
Consolidated Net Income / (Loss)		 1,548 1,694 1,500 1,570 883 1,344 1,477 1,505 1,627 1,499 1,643
Net Income / (Loss) Continuing Operations		 1,548 1,694 1,500 1,570 883 1,344 1,477 1,505 1,627 1,499 1,643
Total Pre-Tax Income 		1,881 2,047 1,775 1,859 1,055 1,656 1,819 1,862 1,905 1,846 2,024
Total Revenue		 5,763 5,603 5,293 5,233 5,361 5,145 5,411 5,432 5,567 5,452 5,661
Net Interest Income / (Expense)		 3,684 3,585 3,510 3,418 3,403 3,264 3,302 3,410 3,523 3,476 3,555
Total Interest Income		 5,109 5,659 5,944 6,203 6,502 6,500 6,568 6,822 6,494 6,130 6,270
Loans and Leases Interest Income		 3,860 4,258 4,523 4,643 4,875 4,819 4,842 4,954 4,731 4,472 4,609
Investment Securities Interest Income		 836 885 883 892 885 883 1,001 1,097 1,142 1,124 1,151
Other Interest Income		 413 516 538 668 742 798 725 771 621 534 510
Total Interest Expense		 1,425 2,074 2,434 2,785 3,099 3,236 3,266 3,412 2,971 2,654 2,715
Deposits Interest Expense		 812 1,291 1,531 1,792 1,995 2,077 2,084 2,230 2,010 1,808 1,845
Long-Term Debt Interest Expense		 613 783 903 993 1,104 1,159 1,182 1,182 961 846 870
Total Non-Interest Income		 2,079 2,018 1,783 1,815 1,958 1,881 2,109 2,022 2,044 1,976 2,106
Other Non-Interest Income		 - 2,018 - - - 1,881 2,109 - - 1,976 2,106
Provision for Credit Losses		 408 235 146 129 232 155 235 243 156 219 254
Total Non-Interest Expense		 3,474 3,321 3,372 3,245 4,074 3,334 3,357 3,327 3,506 3,387 3,383
Salaries and Employee Benefits		 1,943 1,826 1,846 1,773 1,983 1,794 1,782 1,869 1,857 1,890 1,889
Net Occupancy & Equipment Expense		 616 601 593 591 608 585 592 591 713 629 629
Marketing Expense		 106 74 109 93 74 64 93 93 112 85 99
Other Operating Expenses		 809 820 824 788 1,409 891 890 774 824 783 766
Income Tax Expense		 333 353 275 289 172 312 342 357 278 347 381
Preferred Stock Dividends Declared		 116 70 129 106 112 81 95 84 88 71 83
Net Income / (Loss) Attributable to Noncontrolling Interest		 20 17 17 16 19 14 18 15 17 18 16
Basic Earnings per Share		 $3.46 $3.98 $3.36 $3.60 $1.86 $3.10 $3.39 $3.50 $3.77 $3.52 $3.86
Weighted Average Basic Shares Outstanding		 412M 401M 401M 400M 401M 400M 400M 399M 399M 398M 397M
Diluted Earnings per Share		 $3.45 $3.98 $3.36 $3.60 $1.85 $3.10 $3.39 $3.49 $3.76 $3.51 $3.85
Weighted Average Diluted Shares Outstanding		 412M 402M 401M 400M 401M 400M 400M 400M 400M 398M 397M
Weighted Average Basic & Diluted Shares Outstanding		 399.68M 399.11M 398.25M 398.34M 397.81M 397.91M 397.50M 396.78M 395.75M 395.57M 393.81M
Cash Dividends to Common per Share		 - $1.50 $1.50 $1.55 - $1.55 $1.55 $1.60 - $1.60 $1.60

Annual Cash Flow Statements for The PNC Financial Services Group

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 317 28,563 814 370 95 -547 1,956 987 -47,891 16,362 -4,474
Net Cash From Operating Activities		 5,585 5,442 3,500 5,579 7,840 7,363 4,659 7,214 9,083 10,111 7,880
Net Cash From Continuing Operating Activities		 5,585 5,442 3,500 5,579 7,840 7,363 4,659 7,214 9,083 10,111 7,880
Net Income / (Loss) Continuing Operations		 4,207 4,143 3,985 5,388 5,346 5,418 7,558 5,725 6,113 5,647 5,953
Consolidated Net Income / (Loss)		 4,207 4,143 3,985 5,388 5,346 5,418 7,558 5,725 6,113 5,647 5,953
Provision For Loan Losses		 273 - 433 441 408 773 3,175 -779 477 742 789
Depreciation Expense		 988 1,088 1,193 1,117 1,129 1,315 1,497 1,773 651 217 259
Non-Cash Adjustments to Reconcile Net Income		 119 274 18 -807 -220 417 -7,659 263 -185 48 -130
Changes in Operating Assets and Liabilities, net		 -2.00 -63 -2,129 -560 1,177 -560 88 232 2,027 3,457 1,009
Net Cash From Investing Activities		 -24,893 7,356 -7,307 -14,895 -3,969 -24,990 -51,122 -2,795 -60,358 10,105 -3,232
Net Cash From Continuing Investing Activities		 -24,893 7,356 -7,307 -14,895 -3,969 -24,990 -51,122 -2,795 -60,358 10,105 -3,232
Purchase of Investment Securities		 -21,585 -5,117 -27,056 -35,980 -34,813 -42,185 -48,655 -61,765 -87,859 -5,402 -30,073
Sale and/or Maturity of Investments		 -3,439 11,992 19,623 21,330 38,365 12,221 -18,430 58,994 28,219 14,934 27,228
Net Increase in Fed Funds Sold		 131 481 126 -245 -5,837 4,899 1,738 -24 -718 573 -387
Net Cash From Financing Activities		 19,625 10,440 4,621 9,686 -3,512 17,080 48,419 -3,432 3,384 -3,854 -9,122
Net Cash From Continuing Financing Activities		 19,625 15,765 4,621 9,686 -3,512 17,080 48,419 -3,432 3,384 -3,854 -9,122
Net Change in Deposits		 11,312 16,577 8,579 7,991 2,674 20,716 76,798 6,377 -20,969 -14,852 5,304
Issuance of Debt		 31,520 9,890 6,385 18,621 15,501 25,366 3,623 1,736 36,610 16,464 12,974
Issuance of Preferred Equity		 0.00 0.00 519 0.00 0.00 0.00 0.00 1,484 2,225 1,484 0.00
Issuance of Common Equity		 252 139 151 132 69 90 65 66 68 72 69
Repayment of Debt		 -20,778 -6,393 -7,864 -12,388 -17,934 -28,774 -22,540 -10,503 -7,421 -3,676 -23,319
Repurchase of Common Equity		 -1,176 -2,152 -2,062 -2,447 -2,877 -3,578 -1,624 -1,079 -3,731 -651 -687
Payment of Dividends		 -1,232 -1,257 -1,270 -1,502 -1,837 -2,131 -2,209 -2,289 -2,692 -2,878 -2,889
Other Financing Activities, Net		 -273 -1,039 183 -721 892 5,391 -5,694 776 -706 183 -574
Cash Interest Paid		 863 1,005 1,317 1,743 2,835 3,742 1,292 582 2,172 9,451 13,052
Cash Income Taxes Paid		 1,114 1,205 769 96 840 447 3,420 748 223 1,829 479

Quarterly Cash Flow Statements for The PNC Financial Services Group

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -46,435 -1,103 11,190 2,334 3,941 8,820 -10,456 1,905 5,065 -7,851 -8,006
Net Cash From Operating Activities		 4,046 1,876 3,256 115 4,864 1,758 1,035 3,287 1,800 -509 1,480
Net Cash From Continuing Operating Activities		 4,046 1,876 3,256 115 4,864 1,758 1,035 3,287 1,800 -509 1,480
Net Income / (Loss) Continuing Operations		 1,548 1,694 1,500 1,570 883 1,344 1,477 1,505 1,627 1,499 1,643
Consolidated Net Income / (Loss)		 1,548 1,694 1,500 1,570 883 1,344 1,477 1,505 1,627 1,499 1,643
Provision For Loan Losses		 408 235 146 129 232 155 235 243 156 219 254
Depreciation Expense		 64 65 60 49 43 37 37 21 164 90 82
Non-Cash Adjustments to Reconcile Net Income		 45 144 -81 -243 228 -87 -166 205 -82 144 128
Changes in Operating Assets and Liabilities, net		 1,981 -262 1,631 -1,390 3,478 309 -548 1,313 -65 -2,461 -627
Net Cash From Investing Activities		 -49,685 -5,712 13,249 4,913 -2,345 3,443 -220 -3,782 7,135 -980 -11,708
Net Cash From Continuing Investing Activities		 -49,685 -5,712 13,249 4,913 -2,345 3,443 -220 -3,782 7,135 -980 -11,708
Purchase of Investment Securities		 -21,322 -2,784 2,888 94 -5,600 -434 -7,862 -9,932 -1,946 -7,070 -17,289
Sale and/or Maturity of Investments		 -28,550 -2,960 10,164 4,631 3,099 3,881 7,471 6,923 8,862 6,535 5,324
Net Increase in Fed Funds Sold		 187 32 197 188 156 -4.00 171 -773 219 -445 257
Net Cash From Financing Activities		 -796 2,733 -5,315 -2,694 1,422 3,619 -11,271 2,400 -3,870 -6,362 2,222
Net Cash From Continuing Financing Activities		 -796 2,733 -5,315 -2,694 1,422 3,619 -11,271 2,400 -3,870 -6,362 2,222
Net Change in Deposits		 -1,889 561 -9,377 -3,866 -2,170 4,170 -9,209 7,646 2,697 -3,823 3,782
Issuance of Debt		 4,826 1,919 5,531 1,755 7,259 1,535 1,651 2,493 6,245 2,742 5,495
Issuance of Common Equity		 10 26 10 26 10 24 9.00 27 9.00 25 9.00
Repayment of Debt		 -1,080 -196 -1,124 -140 -2,216 -1,196 -3,037 -7,157 -10,879 -4,331 -5,970
Repurchase of Common Equity		 -653 -459 -129 -11 -52 -223 -113 -130 -221 -262 -336
Payment of Dividends		 -732 -675 -733 -728 -742 -705 -718 -728 -738 -710 -725
Other Financing Activities, Net		 -1,278 73 507 270 -667 14 146 249 -983 -3.00 -33
Cash Interest Paid		 1,277 1,691 895 3,687 3,178 2,861 3,453 3,272 3,466 2,706 2,805
Cash Income Taxes Paid		 128 59 1,484 232 54 41 291 44 103 78 316

Annual Balance Sheets for The PNC Financial Services Group

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

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 345,072 358,493 366,380 380,768 382,315 410,295 466,679 557,191 557,263 561,580 560,038
Cash and Due from Banks		 4,360 4,065 4,879 5,249 5,608 5,061 7,017 8,004 7,043 6,921 6,904
Interest Bearing Deposits at Other Banks		 31,779 30,546 25,711 28,595 10,893 23,413 85,173 74,250 27,320 43,804 39,347
Trading Account Securities		 60,438 72,068 78,451 78,786 83,695 87,907 90,396 3,657 96,185 91,518 78,543
Loans and Leases, Net of Allowance		 201,486 203,969 208,244 217,847 223,616 237,101 236,567 283,504 321,284 316,717 311,981
Loans and Leases		 204,817 206,696 210,833 220,458 226,245 239,843 241,928 288,372 326,025 321,508 316,467
Allowance for Loan and Lease Losses		 3,331 2,727 2,589 2,611 2,629 2,742 5,361 4,868 4,741 4,791 4,486
Goodwill		 9,103 9,103 9,103 9,173 9,218 9,233 9,233 10,916 10,987 10,932 10,932
Other Assets		 35,561 38,742 39,992 41,118 49,285 47,580 38,293 176,860 94,444 91,688 112,331
Total Liabilities & Shareholders' Equity		 345,072 358,493 366,380 380,768 382,315 410,295 466,679 557,191 557,263 561,580 560,038
Total Liabilities		 298,998 312,513 319,526 333,183 334,545 360,952 412,638 501,465 511,451 510,439 505,569
Non-Interest Bearing Deposits		 73,479 79,435 80,230 79,864 73,960 72,779 112,637 155,175 124,486 101,285 92,641
Interest Bearing Deposits		 158,755 169,567 176,934 185,189 193,879 215,761 252,708 302,103 311,796 320,133 334,097
Short-Term Debt		 8,352 4,570 4,176 4,789 - - 3,021 - 3,674 3,026 3,072
Long-Term Debt		 44,906 49,962 48,530 54,299 57,419 60,263 34,174 30,784 55,039 69,711 58,601
Other Long-Term Liabilities		 4,809 8,979 9,656 9,042 9,287 12,149 10,098 13,403 15,762 15,621 16,439
Total Equity & Noncontrolling Interests		 46,074 45,980 46,854 47,585 47,770 49,343 54,041 55,726 45,812 51,141 54,469
Total Preferred & Common Equity		 44,551 44,710 45,699 47,513 47,728 49,314 54,010 55,695 45,774 51,105 54,425
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 44,551 44,710 45,699 47,513 47,728 49,314 54,010 55,695 45,774 51,105 54,425
Common Stock		 15,332 18,905 19,360 19,084 18,988 19,081 18,597 20,170 21,090 21,736 21,427
Retained Earnings		 26,200 29,043 31,670 35,481 38,919 42,215 46,848 50,228 53,572 56,290 59,282
Treasury Stock		 -1,430 -3,368 -5,066 -6,904 -9,454 -12,781 -14,205 -15,112 -18,716 -19,209 -19,719
Accumulated Other Comprehensive Income / (Loss)		 503 130 -265 -148 -725 799 2,770 409 -10,172 -7,712 -6,565
Noncontrolling Interest		 1,523 1,270 1,155 72 42 29 31 31 38 36 44

Quarterly Balance Sheets for The PNC Financial Services Group

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Total Assets		 557,263 561,777 558,207 557,334 561,580 566,162 556,519 564,881 560,038 554,722 559,107
Cash and Due from Banks		 7,043 5,940 6,191 5,300 6,921 5,933 6,242 6,162 6,904 6,102 5,939
Interest Bearing Deposits at Other Banks		 27,320 33,865 38,259 41,484 43,804 53,612 33,039 35,024 39,347 32,298 24,455
Trading Account Securities		 96,185 96,017 94,709 92,720 91,518 88,923 88,445 84,595 78,543 75,693 77,049
Loans and Leases, Net of Allowance		 321,284 321,734 317,024 313,649 316,717 315,088 316,793 316,792 311,981 314,306 321,817
Loans and Leases		 326,025 326,475 321,761 318,416 321,508 319,781 321,429 321,381 316,467 318,850 326,340
Allowance for Loan and Lease Losses		 4,741 4,741 4,737 4,767 4,791 4,693 4,636 4,589 4,486 4,544 4,523
Goodwill		 10,987 10,987 10,987 10,987 10,932 10,932 10,932 10,932 10,932 10,932 10,932
Other Assets		 94,444 93,234 91,037 93,194 91,688 91,674 101,068 111,376 112,331 115,391 118,915
Total Liabilities & Shareholders' Equity		 557,263 561,777 558,207 557,334 561,580 566,162 556,519 564,881 560,038 554,722 559,107
Total Liabilities		 511,451 512,703 508,861 507,853 510,439 514,788 503,838 509,152 505,569 498,271 501,452
Non-Interest Bearing Deposits		 124,486 118,014 110,527 105,672 101,285 98,061 94,542 94,588 92,641 92,369 93,253
Interest Bearing Deposits		 311,796 318,819 316,962 317,937 320,133 327,563 321,849 329,378 334,097 330,546 333,443
Short-Term Debt		 3,674 3,550 3,831 3,032 3,026 2,973 - 3,381 3,072 3,572 3,184
Long-Term Debt		 55,039 57,272 61,553 63,135 69,711 69,734 71,391 64,688 58,601 57,150 57,240
Other Long-Term Liabilities		 15,762 15,048 15,988 17,437 15,621 15,785 16,056 16,392 16,439 13,960 13,573
Total Equity & Noncontrolling Interests		 45,812 49,074 49,346 49,481 51,141 51,374 52,681 55,729 54,469 56,451 57,655
Total Preferred & Common Equity		 45,774 49,044 49,320 49,454 51,105 51,340 52,642 55,689 54,425 56,405 57,607
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 45,774 49,044 49,320 49,454 51,105 51,340 52,642 55,689 54,425 56,405 57,607
Common Stock		 21,090 22,578 22,649 22,686 21,736 21,748 21,814 21,866 21,427 21,448 21,526
Retained Earnings		 53,572 54,598 55,346 56,170 56,290 56,913 57,652 58,412 59,282 60,051 60,951
Treasury Stock		 -18,716 -19,024 -19,150 -19,141 -19,209 -19,279 -19,378 -19,499 -19,719 -19,857 -20,188
Accumulated Other Comprehensive Income / (Loss)		 -10,172 -9,108 -9,525 -10,261 -7,712 -8,042 -7,446 -5,090 -6,565 -5,237 -4,682
Noncontrolling Interest		 38 30 26 27 36 34 39 40 44 46 48

Annual Metrics And Ratios for The PNC Financial Services Group

This table displays calculated financial ratios and metrics derived from The PNC Financial Services Group's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 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		 -3.98% -0.98% -0.41% 7.70% -0.85% 4.01% 0.37% 13.67% 9.94% 1.75% 0.30%
EBITDA Growth		 -3.39% -0.11% -2.26% 2.50% 0.12% 2.90% -27.63% 77.85% -7.27% -14.41% 7.88%
EBIT Growth		 -1.30% -1.91% -4.61% 4.51% -0.07% 0.11% -37.56% 103.79% 6.94% -9.86% 7.51%
NOPAT Growth		 -0.12% -1.52% -3.81% 35.21% -15.40% 0.72% -34.59% 90.64% 6.78% -7.62% 5.42%
Net Income Growth		 -0.12% -1.52% -3.81% 35.21% -0.78% 1.35% 39.50% -24.25% 6.78% -7.62% 5.42%
EPS Growth		 -0.82% 1.23% -1.22% 41.92% 3.38% 6.35% 48.90% -25.12% 9.06% -7.65% 7.43%
Operating Cash Flow Growth		 0.54% -2.56% -35.69% 59.40% 40.53% -6.08% -36.72% 54.84% 25.91% 11.32% -22.07%
Free Cash Flow Firm Growth		 -303.83% 131.96% 66.62% -134.94% 450.26% -97.12% 12,183.33% -51.10% -213.88% -15.16% 199.88%
Invested Capital Growth		 15.70% 1.19% -0.95% 7.14% -1.39% 4.20% -16.76% -5.18% 20.82% 18.52% -6.24%
Revenue Q/Q Growth		 -0.79% -0.61% 0.14% 2.42% -5.06% 4.32% 0.67% 5.02% 3.10% -1.84% 0.96%
EBITDA Q/Q Growth		 -1.27% 0.75% -0.42% -4.48% -5.28% 8.98% 18.90% -0.97% -3.29% -10.86% 14.87%
EBIT Q/Q Growth		 -1.51% 0.49% -0.32% -5.05% -6.81% 8.71% 22.99% -1.29% 3.00% -10.92% 13.30%
NOPAT Q/Q Growth		 -0.40% -0.84% 0.63% 24.03% -25.11% 9.31% 20.07% -2.55% 4.12% -10.54% 14.28%
Net Income Q/Q Growth		 -0.40% -0.84% 0.63% 24.03% -12.16% 0.56% 1.00% -2.55% 4.12% -10.54% 14.28%
EPS Q/Q Growth		 -0.41% 0.27% 1.39% 26.65% -11.56% 1.97% 1.56% -2.68% 4.37% -11.12% 16.15%
Operating Cash Flow Q/Q Growth		 31.75% 17.34% -14.72% -5.76% 19.38% 15.32% -20.21% 27.57% 6.47% 8.80% -28.00%
Free Cash Flow Firm Q/Q Growth		 13.11% 259.04% -35.66% 31.57% 19.76% 111.21% 19.47% -9.33% -108.19% -71.75% 565.45%
Invested Capital Q/Q Growth		 4.76% -0.35% 2.48% 2.55% 0.13% -1.09% -4.38% -3.63% 3.13% 7.12% -6.18%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 42.94% 43.32% 42.51% 40.46% 40.86% 40.42% 29.15% 45.60% 38.47% 32.35% 34.80%
EBIT Margin		 36.51% 36.17% 34.65% 33.62% 33.89% 32.61% 20.29% 36.38% 35.38% 31.34% 33.60%
Profit (Net Income) Margin		 27.36% 27.21% 26.28% 33.00% 33.02% 32.18% 44.72% 29.80% 28.94% 26.28% 27.62%
Tax Burden Percent		 74.94% 75.23% 75.86% 98.14% 97.45% 98.65% 220.41% 81.93% 81.80% 83.83% 82.20%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 25.06% 24.77% 24.14% 1.86% 16.92% 16.41% 12.42% 18.07% 18.20% 16.17% 17.80%
Return on Invested Capital (ROIC)		 4.54% 4.15% 3.98% 5.23% 4.30% 4.27% 2.99% 6.44% 6.40% 4.94% 4.96%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.54% 4.15% 3.98% 5.23% 5.66% 5.68% 12.34% 6.44% 6.40% 4.94% 4.96%
Return on Net Nonoperating Assets (RNNOA)		 4.79% 4.86% 4.60% 6.19% 6.91% 6.88% 11.63% 3.99% 5.64% 6.70% 6.31%
Return on Equity (ROE)		 9.34% 9.00% 8.59% 11.41% 11.21% 11.16% 14.62% 10.43% 12.04% 11.65% 11.27%
Cash Return on Invested Capital (CROIC)		 -10.01% 2.97% 4.94% -1.67% 5.70% 0.16% 21.28% 11.76% -12.46% -12.00% 11.41%
Operating Return on Assets (OROA)		 1.69% 1.57% 1.45% 1.47% 1.44% 1.39% 0.78% 1.37% 1.34% 1.20% 1.29%
Return on Assets (ROA)		 1.26% 1.18% 1.10% 1.44% 1.40% 1.37% 1.72% 1.12% 1.10% 1.01% 1.06%
Return on Common Equity (ROCE)		 9.00% 8.73% 8.36% 11.26% 11.20% 11.15% 14.61% 10.43% 12.03% 11.64% 11.27%
Return on Equity Simple (ROE_SIMPLE)		 9.44% 9.27% 8.72% 11.34% 11.20% 10.99% 13.99% 10.28% 13.35% 11.05% 10.94%
Net Operating Profit after Tax (NOPAT)		 4,207 4,143 3,985 5,388 4,558 4,591 3,003 5,725 6,113 5,647 5,953
NOPAT Margin		 27.36% 27.21% 26.28% 33.00% 28.15% 27.26% 17.77% 29.80% 28.94% 26.28% 27.62%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% -1.35% -1.41% -9.35% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 42.64% 44.97% 45.87% 45.59% 47.42% 47.46% 46.81% 51.07% 47.28% 47.33% 47.07%
Operating Expenses to Revenue		 61.71% 62.15% 62.50% 63.68% 63.59% 62.79% 60.93% 67.68% 62.36% 65.20% 62.74%
Earnings before Interest and Taxes (EBIT)		 5,614 5,507 5,253 5,490 5,486 5,492 3,429 6,988 7,473 6,736 7,242
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 6,602 6,595 6,446 6,607 6,615 6,807 4,926 8,761 8,124 6,953 7,501
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.80 0.82 0.97 1.15 0.92 1.19 1.02 1.36 1.27 1.15 1.39
Price to Tangible Book Value (P/TBV)		 1.02 1.03 1.21 1.42 1.14 1.46 1.23 1.70 1.67 1.47 1.75
Price to Revenue (P/Rev)		 2.31 2.41 2.91 3.33 2.71 3.48 3.26 3.95 2.75 2.74 3.52
Price to Earnings (P/E)		 9.01 9.44 11.98 10.72 8.66 11.43 7.57 13.97 10.12 11.43 13.73
Dividend Yield		 2.78% 2.79% 2.33% 2.27% 3.58% 3.14% 3.54% 2.67% 4.00% 4.13% 3.29%
Earnings Yield		 11.10% 10.59% 8.35% 9.33% 11.55% 8.75% 13.22% 7.16% 9.88% 8.75% 7.29%
Enterprise Value to Invested Capital (EV/IC)		 0.53 0.58 0.68 0.75 0.81 0.83 0.00 0.28 0.79 0.65 0.79
Enterprise Value to Revenue (EV/Rev)		 3.40 3.80 4.45 4.88 5.24 5.37 0.01 1.28 3.90 3.77 4.24
Enterprise Value to EBITDA (EV/EBITDA)		 7.93 8.77 10.46 12.07 12.82 13.29 0.03 2.80 10.15 11.64 12.18
Enterprise Value to EBIT (EV/EBIT)		 9.32 10.50 12.84 14.52 15.45 16.47 0.04 3.51 11.03 12.02 12.62
Enterprise Value to NOPAT (EV/NOPAT)		 12.44 13.96 16.92 14.80 18.60 19.70 0.05 4.28 13.49 14.33 15.35
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.37 10.63 19.27 14.29 10.81 12.28 0.03 3.40 9.08 8.00 11.59
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 19.52 13.66 0.00 14.03 519.77 0.01 2.35 0.00 0.00 6.67
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.16 1.19 1.12 1.24 1.20 1.22 0.69 0.55 1.28 1.42 1.13
Long-Term Debt to Equity		 0.97 1.09 1.04 1.14 1.20 1.22 0.63 0.55 1.20 1.36 1.08
Financial Leverage		 1.06 1.17 1.16 1.18 1.22 1.21 0.94 0.62 0.88 1.36 1.27
Leverage Ratio		 7.38 7.64 7.81 7.91 8.00 8.16 8.48 9.33 10.98 11.54 10.62
Compound Leverage Factor		 7.38 7.64 7.81 7.91 8.00 8.16 8.48 9.33 10.98 11.54 10.62
Debt to Total Capital		 53.62% 54.25% 52.94% 55.39% 54.59% 54.98% 40.77% 35.58% 56.17% 58.72% 53.10%
Short-Term Debt to Total Capital		 8.41% 4.55% 4.19% 4.49% 0.00% 0.00% 3.31% 0.00% 3.51% 2.44% 2.65%
Long-Term Debt to Total Capital		 45.21% 49.71% 48.74% 50.90% 54.59% 54.98% 37.46% 35.58% 52.66% 56.27% 50.46%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.53% 1.26% 1.16% 0.07% 0.04% 0.03% 0.03% 0.04% 0.04% 0.03% 0.04%
Common Equity to Total Capital		 44.85% 44.48% 45.90% 44.54% 45.37% 44.99% 59.20% 64.38% 43.79% 41.25% 46.86%
Debt to EBITDA		 8.07 8.27 8.18 8.94 8.68 8.85 7.55 3.51 7.23 10.46 8.22
Net Debt to EBITDA		 2.31 3.02 3.43 3.82 6.19 4.67 -11.16 -5.87 3.00 3.17 2.06
Long-Term Debt to EBITDA		 6.80 7.58 7.53 8.22 8.68 8.85 6.94 3.51 6.77 10.03 7.81
Debt to NOPAT		 12.66 13.16 13.23 10.97 12.60 13.13 12.39 5.38 9.60 12.88 10.36
Net Debt to NOPAT		 3.63 4.81 5.55 4.69 8.98 6.92 -18.31 -8.99 3.98 3.90 2.59
Long-Term Debt to NOPAT		 10.67 12.06 12.18 10.08 12.60 13.13 11.38 5.38 9.00 12.34 9.84
Noncontrolling Interest Sharing Ratio		 3.58% 3.03% 2.61% 1.30% 0.12% 0.07% 0.06% 0.06% 0.07% 0.08% 0.08%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -9,272 2,963 4,937 -1,725 6,042 174 21,373 10,451 -11,902 -13,706 13,689
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -10.23 2.84 3.92 -1.01 2.11 0.05 15.70 21.46 -4.91 -1.32 1.06
Operating Cash Flow to Interest Expense		 6.16 5.21 2.78 3.27 2.74 1.94 3.42 14.81 3.75 0.97 0.61
Operating Cash Flow Less CapEx to Interest Expense		 6.16 5.21 2.78 3.27 2.74 1.94 3.42 14.81 3.75 0.97 0.61
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 99,332 100,512 99,560 106,673 105,189 109,606 91,236 86,510 104,525 123,878 116,142
Invested Capital Turnover		 0.17 0.15 0.15 0.16 0.15 0.16 0.17 0.22 0.22 0.19 0.18
Increase / (Decrease) in Invested Capital		 13,479 1,180 -952 7,113 -1,484 4,417 -18,370 -4,726 18,015 19,353 -7,736
Enterprise Value (EV)		 52,348 57,840 67,445 79,732 84,772 90,441 149 24,528 82,434 80,933 91,360
Market Capitalization		 35,558 36,649 44,174 54,416 43,812 58,623 55,113 75,967 58,046 58,885 75,894
Book Value per Share		 $84.66 $88.05 $93.93 $99.86 $103.44 $112.55 $127.47 $131.78 $113.49 $128.29 $137.17
Tangible Book Value per Share		 $66.43 $70.12 $75.22 $80.58 $83.46 $91.47 $105.68 $105.95 $86.25 $100.85 $109.61
Total Capital		 99,332 100,512 99,560 106,673 105,189 109,606 91,236 86,510 104,525 123,878 116,142
Total Debt		 53,258 54,532 52,706 59,088 57,419 60,263 37,195 30,784 58,713 72,737 61,673
Total Long-Term Debt		 44,906 49,962 48,530 54,299 57,419 60,263 34,174 30,784 55,039 69,711 58,601
Net Debt		 15,267 19,921 22,116 25,244 40,918 31,789 -54,995 -51,470 24,350 22,012 15,422
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 -788 -827 -4,555 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 53,258 54,532 52,706 59,088 57,419 60,263 37,195 30,784 58,713 72,737 61,673
Total Depreciation and Amortization (D&A)		 988 1,088 1,193 1,117 1,129 1,315 1,497 1,773 651 217 259
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $7.44 $7.52 $7.42 $10.49 $10.79 $11.43 $16.99 $12.71 $13.86 $12.80 $13.76
Adjusted Weighted Average Basic Shares Outstanding		 529M 514M 494M 481M 467M 447M 427M 426M 412M 401M 399M
Adjusted Diluted Earnings per Share		 $7.30 $7.39 $7.30 $10.36 $10.71 $11.39 $16.96 $12.70 $13.85 $12.79 $13.74
Adjusted Weighted Average Diluted Shares Outstanding		 537M 521M 500M 486M 470M 448M 427M 426M 412M 401M 400M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $11.43 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 520.69M 501.11M 486.16M 471.59M 453.61M 428.73M 424.02M 418.45M 399.68M 397.81M 395.75M
Normalized Net Operating Profit after Tax (NOPAT)		 4,207 4,143 3,985 5,388 4,558 4,591 3,003 5,725 6,113 5,647 5,953
Normalized NOPAT Margin		 27.36% 27.21% 26.28% 33.00% 28.15% 27.26% 17.77% 29.80% 28.94% 26.28% 27.62%
Pre Tax Income Margin		 36.51% 36.17% 34.65% 33.62% 33.89% 32.61% 20.29% 36.38% 35.38% 31.34% 33.60%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.20 5.27 4.17 3.22 1.92 1.45 2.52 14.35 3.09 0.65 0.56
NOPAT to Interest Expense		 4.64 3.96 3.16 3.16 1.59 1.21 2.21 11.76 2.52 0.54 0.46
EBIT Less CapEx to Interest Expense		 6.20 5.27 4.17 3.22 1.92 1.45 2.52 14.35 3.09 0.65 0.56
NOPAT Less CapEx to Interest Expense		 4.64 3.96 3.16 3.16 1.59 1.21 2.21 11.76 2.52 0.54 0.46
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 29.28% 30.34% 31.87% 27.88% 34.36% 39.33% 29.23% 39.98% 44.04% 50.97% 48.53%
Augmented Payout Ratio		 57.24% 82.28% 83.61% 73.29% 88.18% 105.37% 50.71% 58.83% 105.07% 62.49% 60.07%

Quarterly Metrics And Ratios for The PNC Financial Services Group

This table displays calculated financial ratios and metrics derived from The PNC Financial Services Group's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 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 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 12.40% 19.42% 3.46% -5.69% -6.98% -8.17% 2.23% 3.80% 3.84% 5.97% 4.62%
EBITDA Growth		 -12.43% -0.05% -7.32% -8.53% -43.55% -19.84% 1.14% -1.31% 88.43% 14.35% 13.47%
EBIT Growth		 13.11% 18.46% -3.32% -8.33% -43.91% -19.10% 2.48% 0.16% 80.57% 11.47% 11.27%
NOPAT Growth		 18.53% 18.54% 0.27% -4.27% -42.96% -20.66% -1.53% -4.14% 84.26% 11.53% 11.24%
Net Income Growth		 18.53% 18.54% 0.27% -4.27% -42.96% -20.66% -1.53% -4.14% 84.26% 11.53% 11.24%
EPS Growth		 20.21% 23.22% -0.89% -4.76% -46.38% -22.11% 0.89% -3.06% 103.24% 13.23% 13.57%
Operating Cash Flow Growth		 15.80% 289.69% 23.71% -96.61% 20.22% -6.29% -68.21% 2,758.26% -62.99% -128.95% 43.00%
Free Cash Flow Firm Growth		 -372.99% -358.27% -503.69% -27.89% -12.16% 60.39% 73.39% 47.77% 150.69% 165.47% 197.09%
Invested Capital Growth		 20.82% 45.01% 37.12% 14.10% 18.52% 12.91% 8.14% 7.05% -6.24% -5.57% -4.83%
Revenue Q/Q Growth		 3.86% -2.78% -5.53% -1.13% 2.45% -4.03% 5.17% 0.39% 2.49% -2.07% 3.83%
EBITDA Q/Q Growth		 -6.76% 8.59% -13.12% 3.98% -42.45% 54.19% 9.63% 1.45% 9.88% -6.43% 8.78%
EBIT Q/Q Growth		 -7.25% 8.83% -13.29% 4.73% -43.25% 56.97% 9.84% 2.36% 2.31% -3.10% 9.64%
NOPAT Q/Q Growth		 -5.61% 9.43% -11.45% 4.67% -43.76% 52.21% 9.90% 1.90% 8.11% -7.87% 9.61%
Net Income Q/Q Growth		 -5.61% 9.43% -11.45% 4.67% -43.76% 52.21% 9.90% 1.90% 8.11% -7.87% 9.61%
EPS Q/Q Growth		 -8.73% 15.36% -15.58% 7.14% -48.61% 67.57% 9.35% 2.95% 7.74% -6.65% 9.69%
Operating Cash Flow Q/Q Growth		 19.21% -53.63% 73.56% -96.47% 4,129.57% -63.86% -41.13% 217.58% -45.24% -128.28% 390.77%
Free Cash Flow Firm Q/Q Growth		 -65.53% -96.85% 8.81% 56.96% -45.18% 30.48% 38.75% 15.51% 240.90% -10.21% -9.17%
Invested Capital Q/Q Growth		 3.13% 5.14% 4.40% 0.80% 7.12% 0.16% -0.01% -0.22% -6.18% 0.89% 0.77%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 33.75% 37.69% 34.67% 36.46% 20.48% 32.91% 34.30% 34.66% 37.17% 35.51% 37.20%
EBIT Margin		 32.64% 36.53% 33.53% 35.52% 19.68% 32.19% 33.62% 34.28% 34.22% 33.86% 35.75%
Profit (Net Income) Margin		 26.86% 30.23% 28.34% 30.00% 16.47% 26.12% 27.30% 27.71% 29.23% 27.49% 29.02%
Tax Burden Percent		 82.30% 82.76% 84.51% 84.45% 83.70% 81.16% 81.20% 80.83% 85.41% 81.20% 81.18%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 17.70% 17.24% 15.49% 15.55% 16.30% 18.84% 18.80% 19.17% 14.59% 18.80% 18.82%
Return on Invested Capital (ROIC)		 5.94% 7.17% 6.34% 6.05% 3.10% 4.70% 4.84% 4.94% 5.25% 4.98% 5.30%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.94% 7.17% 6.34% 6.05% 3.10% 4.70% 4.84% 4.94% 5.25% 4.98% 5.30%
Return on Net Nonoperating Assets (RNNOA)		 5.24% 6.38% 6.63% 7.60% 4.20% 6.24% 6.48% 6.30% 6.68% 6.17% 6.33%
Return on Equity (ROE)		 11.17% 13.55% 12.97% 13.65% 7.30% 10.94% 11.32% 11.24% 11.93% 11.15% 11.63%
Cash Return on Invested Capital (CROIC)		 -12.46% -29.87% -24.87% -7.35% -12.00% -7.60% -3.41% -2.46% 11.41% 10.79% 10.13%
Operating Return on Assets (OROA)		 1.24% 1.46% 1.36% 1.39% 0.76% 1.20% 1.28% 1.30% 1.32% 1.32% 1.42%
Return on Assets (ROA)		 1.02% 1.21% 1.15% 1.18% 0.63% 0.97% 1.04% 1.05% 1.12% 1.07% 1.15%
Return on Common Equity (ROCE)		 11.17% 13.54% 12.96% 13.65% 7.30% 10.93% 11.31% 11.24% 11.92% 11.14% 11.62%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 13.00% 12.94% 12.76% 0.00% 10.32% 10.02% 9.35% 0.00% 10.83% 10.89%
Net Operating Profit after Tax (NOPAT)		 1,548 1,694 1,500 1,570 883 1,344 1,477 1,505 1,627 1,499 1,643
NOPAT Margin		 26.86% 30.23% 28.34% 30.00% 16.47% 26.12% 27.30% 27.71% 29.23% 27.49% 29.02%
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% 0.00%
SG&A Expenses to Revenue		 46.24% 44.64% 48.14% 46.95% 49.71% 47.48% 45.59% 47.00% 48.18% 47.76% 46.23%
Operating Expenses to Revenue		 60.28% 59.27% 63.71% 62.01% 75.99% 64.80% 62.04% 61.25% 62.98% 62.12% 59.76%
Earnings before Interest and Taxes (EBIT)		 1,881 2,047 1,775 1,859 1,055 1,656 1,819 1,862 1,905 1,846 2,024
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,945 2,112 1,835 1,908 1,098 1,693 1,856 1,883 2,069 1,936 2,106
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.27 0.97 0.96 0.94 1.15 1.23 1.16 1.31 1.39 1.22 1.27
Price to Tangible Book Value (P/TBV)		 1.67 1.25 1.24 1.21 1.47 1.56 1.47 1.63 1.75 1.51 1.57
Price to Revenue (P/Rev)		 2.75 2.16 2.14 2.12 2.74 3.00 2.90 3.41 3.52 3.15 3.31
Price to Earnings (P/E)		 10.12 7.94 8.03 7.99 11.43 13.17 12.76 15.31 13.73 12.10 12.45
Dividend Yield		 4.00% 5.05% 5.03% 5.19% 4.13% 3.88% 4.03% 3.41% 3.29% 3.65% 3.46%
Earnings Yield		 9.88% 12.60% 12.46% 12.52% 8.75% 7.59% 7.83% 6.53% 7.29% 8.27% 8.03%
Enterprise Value to Invested Capital (EV/IC)		 0.79 0.62 0.60 0.57 0.65 0.62 0.75 0.81 0.79 0.78 0.87
Enterprise Value to Revenue (EV/Rev)		 3.90 3.11 3.09 3.01 3.77 3.63 4.42 4.67 4.24 4.17 4.67
Enterprise Value to EBITDA (EV/EBITDA)		 10.15 8.44 8.59 8.44 11.64 11.68 14.25 15.28 12.18 11.78 12.91
Enterprise Value to EBIT (EV/EBIT)		 11.03 8.80 8.86 8.71 12.02 12.03 14.62 15.61 12.62 12.27 13.51
Enterprise Value to NOPAT (EV/NOPAT)		 13.49 10.75 10.74 10.43 14.33 14.41 17.71 19.16 15.35 14.93 16.45
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.08 5.74 5.45 7.09 8.00 7.64 12.02 9.12 11.59 16.25 17.03
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.67 7.01 8.41
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.28 1.24 1.33 1.34 1.42 1.42 1.36 1.22 1.13 1.08 1.05
Long-Term Debt to Equity		 1.20 1.17 1.25 1.28 1.36 1.36 1.36 1.16 1.08 1.01 0.99
Financial Leverage		 0.88 0.89 1.04 1.26 1.36 1.33 1.34 1.28 1.27 1.24 1.19
Leverage Ratio		 10.98 11.22 11.33 11.61 11.54 11.23 10.93 10.67 10.62 10.40 10.11
Compound Leverage Factor		 10.98 11.22 11.33 11.61 11.54 11.23 10.93 10.67 10.62 10.40 10.11
Debt to Total Capital		 56.17% 55.35% 56.99% 57.21% 58.72% 58.60% 57.54% 54.98% 53.10% 51.82% 51.17%
Short-Term Debt to Total Capital		 3.51% 3.23% 3.34% 2.62% 2.44% 2.40% 0.00% 2.73% 2.65% 3.05% 2.70%
Long-Term Debt to Total Capital		 52.66% 52.11% 53.65% 54.59% 56.27% 56.20% 57.54% 52.25% 50.46% 48.77% 48.48%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.04% 0.03% 0.02% 0.02% 0.03% 0.03% 0.03% 0.03% 0.04% 0.04% 0.04%
Common Equity to Total Capital		 43.79% 44.63% 42.99% 42.76% 41.25% 41.38% 42.43% 44.98% 46.86% 48.14% 48.79%
Debt to EBITDA		 7.23 7.49 8.20 8.48 10.46 11.13 10.89 10.42 8.22 7.84 7.56
Net Debt to EBITDA		 3.00 2.59 2.62 2.49 3.17 2.01 4.90 4.12 2.06 2.88 3.76
Long-Term Debt to EBITDA		 6.77 7.05 7.72 8.09 10.03 10.67 10.89 9.91 7.81 7.38 7.16
Debt to NOPAT		 9.60 9.54 10.25 10.48 12.88 13.73 13.54 13.07 10.36 9.94 9.63
Net Debt to NOPAT		 3.98 3.30 3.28 3.07 3.90 2.48 6.09 5.16 2.59 3.65 4.79
Long-Term Debt to NOPAT		 9.00 8.98 9.64 10.00 12.34 13.16 13.54 12.42 9.84 9.36 9.12
Noncontrolling Interest Sharing Ratio		 0.07% 0.07% 0.06% 0.06% 0.08% 0.06% 0.06% 0.06% 0.08% 0.07% 0.08%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -16,467 -32,415 -29,558 -12,722 -18,470 -12,841 -7,865 -6,645 9,363 8,407 7,636
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -11.56 -15.63 -12.14 -4.57 -5.96 -3.97 -2.41 -1.95 3.15 3.17 2.81
Operating Cash Flow to Interest Expense		 2.84 0.90 1.34 0.04 1.57 0.54 0.32 0.96 0.61 -0.19 0.55
Operating Cash Flow Less CapEx to Interest Expense		 2.84 0.90 1.34 0.04 1.57 0.54 0.32 0.96 0.61 -0.19 0.55
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 104,525 109,896 114,730 115,648 123,878 124,081 124,072 123,798 116,142 117,173 118,079
Invested Capital Turnover		 0.22 0.24 0.22 0.20 0.19 0.18 0.18 0.18 0.18 0.18 0.18
Increase / (Decrease) in Invested Capital		 18,015 34,109 31,058 14,292 19,353 14,185 9,342 8,150 -7,736 -6,908 -5,993
Enterprise Value (EV)		 82,434 68,532 68,534 65,853 80,933 76,315 93,428 99,789 91,360 91,213 103,185
Market Capitalization		 58,046 47,485 47,574 46,443 58,885 63,119 61,279 72,866 75,894 68,845 73,107
Book Value per Share		 $113.49 $122.71 $123.58 $124.18 $128.29 $128.35 $132.30 $140.10 $137.17 $142.53 $145.63
Tangible Book Value per Share		 $86.25 $95.22 $96.05 $96.59 $100.85 $101.02 $104.82 $112.60 $109.61 $114.90 $118.00
Total Capital		 104,525 109,896 114,730 115,648 123,878 124,081 124,072 123,798 116,142 117,173 118,079
Total Debt		 58,713 60,822 65,384 66,167 72,737 72,707 71,391 68,069 61,673 60,722 60,424
Total Long-Term Debt		 55,039 57,272 61,553 63,135 69,711 69,734 71,391 64,688 58,601 57,150 57,240
Net Debt		 24,350 21,017 20,934 19,383 22,012 13,162 32,110 26,883 15,422 22,322 30,030
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 58,713 60,822 65,384 66,167 72,737 72,707 71,391 68,069 61,673 60,722 60,424
Total Depreciation and Amortization (D&A)		 64 65 60 49 43 37 37 21 164 90 82
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.46 $3.98 $3.36 $3.60 $1.86 $3.10 $3.39 $3.50 $3.77 $3.52 $3.86
Adjusted Weighted Average Basic Shares Outstanding		 412M 401M 401M 400M 401M 400M 400M 399M 399M 398M 397M
Adjusted Diluted Earnings per Share		 $3.45 $3.98 $3.36 $3.60 $1.85 $3.10 $3.39 $3.49 $3.76 $3.51 $3.85
Adjusted Weighted Average Diluted Shares Outstanding		 412M 402M 401M 400M 401M 400M 400M 400M 400M 398M 397M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 399.68M 399.11M 398.25M 398.34M 397.81M 397.91M 397.50M 396.78M 395.75M 395.57M 393.81M
Normalized Net Operating Profit after Tax (NOPAT)		 1,548 1,694 1,500 1,570 883 1,344 1,477 1,505 1,627 1,499 1,643
Normalized NOPAT Margin		 26.86% 30.23% 28.34% 30.00% 16.47% 26.12% 27.30% 27.71% 29.23% 27.49% 29.02%
Pre Tax Income Margin		 32.64% 36.53% 33.53% 35.52% 19.68% 32.19% 33.62% 34.28% 34.22% 33.86% 35.75%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.32 0.99 0.73 0.67 0.34 0.51 0.56 0.55 0.64 0.70 0.75
NOPAT to Interest Expense		 1.09 0.82 0.62 0.56 0.28 0.42 0.45 0.44 0.55 0.56 0.61
EBIT Less CapEx to Interest Expense		 1.32 0.99 0.73 0.67 0.34 0.51 0.56 0.55 0.64 0.70 0.75
NOPAT Less CapEx to Interest Expense		 1.09 0.82 0.62 0.56 0.28 0.42 0.45 0.44 0.55 0.56 0.61
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 44.04% 43.76% 44.30% 45.44% 50.97% 54.90% 54.85% 55.54% 48.53% 47.38% 46.24%
Augmented Payout Ratio		 105.07% 89.40% 79.44% 65.27% 62.49% 62.73% 62.42% 65.48% 60.07% 59.27% 61.36%

Key Financial Trends

The PNC Financial Services Group (NYSE: PNC) has demonstrated solid financial performance and growth over the past few years based on its income statements, balance sheets, and cash flow statements through Q2 2025.

Key positive developments include:

  • Net income attributable to common shareholders has generally increased, from approximately $1.39 billion in Q1 2023 to $1.54 billion in Q2 2025, showing steady profitability improvement.
  • Earnings per share (both basic and diluted) have risen from the low $3.00s range in early 2023 to nearly $3.86-$3.85 in Q2 2025, indicating enhanced shareholder value.
  • Net interest income increased from about $3.26 billion in Q1 2023 to $3.56 billion in Q2 2025, reflecting growth in core banking earnings.
  • Non-interest income also showed healthy growth, reaching around $2.11 billion in Q2 2025, supporting diversified revenue streams.
  • Total revenue improved from around $5.14 billion in Q1 2023 to $5.66 billion in Q2 2025, indicating overall business expansion.
  • Deposits (total of interest bearing and non-interest bearing) have increased from $408 billion in Q1 2023 to $426 billion in Q2 2025, highlighting strong deposit growth and funding stability.
  • Loan balances net of reserves increased modestly from about $315 billion in Q1 2023 to roughly $322 billion in Q2 2025, suggesting credit growth momentum.
  • PNC continues to generate positive net cash from continuing operating activities, with $1.48 billion generated in Q2 2025, supporting strong operational cash flow.
  • The bank maintains a substantial capital base, with total common equity growing from $49 billion in Q1 2023 to approximately $57.6 billion in Q2 2025, providing a solid foundation for growth and regulatory compliance.
  • Steady dividend payments per share remain at $1.60, signaling consistent shareholder rewards and confidence in cash flows.

Neutral aspects to watch include:

  • Provision for credit losses has fluctuated in the range of $150 million to $254 million per quarter, reflecting typical cyclicality but necessitating monitoring of credit conditions.
  • Interest expense on deposits and debt increased moderately with rising interest rates, from around $2.07 billion in Q1 2023 to $2.72 billion in Q2 2025, indicating rising funding costs that may pressure net interest margin.
  • The Bank's asset base has remained relatively stable around $550-$560 billion, which is positive for stability but suggests limited large-scale expansion in recent quarters.

Potential concerns include:

  • Net cash from operating activities turned negative in Q1 2025 (-$509 million) before rebounding in Q2 2025, which may indicate some variability in cash flow management.
  • Investing activities showed large cash outflows, typically driven by substantial purchases of investment securities, e.g., -$11.7 billion in Q2 2025, implying heavy investment commitments that carry risk if market values decline.
  • Long-term debt levels are significant, exceeding $57 billion in Q2 2025, with interest expenses exceeding $870 million quarterly, posing ongoing interest rate risk.
  • Repurchase of common equity is ongoing, including $336 million in Q2 2025, which, while returning capital to shareholders, could reduce liquidity if not balanced well with cash generation.
  • Accumulated other comprehensive losses remain negative on the balance sheet (negative $4.68 billion in Q2 2025), which could indicate unrealized losses and volatility in other comprehensive income components.

In summary, PNC Financial Services Group exhibits steady earnings growth, expanding revenues, and a strong capital base, supporting a positive investment outlook. However, investors should remain aware of fluctuations in cash flow, sizable investing outflows, and interest rate pressures on funding costs. Overall, the latest quarterly results suggest improving financial performance with manageable risks.

08/29/25 07:38 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About The PNC Financial Services Group's Financials

When does The PNC Financial Services Group's financial year end?

According to the most recent income statement we have on file, The PNC Financial Services Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has The PNC Financial Services Group's net income changed over the last 10 years?

The PNC Financial Services Group's net income appears to be on an upward trend, with a most recent value of $5.95 billion in 2024, rising from $4.21 billion in 2014. The previous period was $5.65 billion in 2023. Find out what analysts predict for The PNC Financial Services Group in the coming months.

How has The PNC Financial Services Group's revenue changed over the last 10 years?

Over the last 10 years, The PNC Financial Services Group's total revenue changed from $15.38 billion in 2014 to $21.56 billion in 2024, a change of 40.2%.

How much debt does The PNC Financial Services Group have?

The PNC Financial Services Group's total liabilities were at $505.57 billion at the end of 2024, a 1.0% decrease from 2023, and a 69.1% increase since 2014.

How much cash does The PNC Financial Services Group have?

In the past 10 years, The PNC Financial Services Group's cash and equivalents has ranged from $4.07 billion in 2015 to $8.00 billion in 2021, and is currently $6.90 billion as of their latest financial filing in 2024.

How has The PNC Financial Services Group's book value per share changed over the last 10 years?

Over the last 10 years, The PNC Financial Services Group's book value per share changed from 84.66 in 2014 to 137.17 in 2024, a change of 62.0%.


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This page (NYSE:PNC) was last updated on 8/29/2025 by MarketBeat.com Staff
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