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U.S. Bancorp (USB) Financials

U.S. Bancorp logo
$48.87 +0.20 (+0.41%)
Closing price 03:59 PM Eastern
Extended Trading
$48.93 +0.06 (+0.13%)
As of 08:00 PM Eastern
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Annual Income Statements for U.S. Bancorp

Annual Income Statements for U.S. Bancorp

This table shows U.S. Bancorp'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		 5,851 5,879 5,888 6,218 7,096 6,914 4,959 7,963 5,825 5,429 6,299
Consolidated Net Income / (Loss)		 5,908 5,933 5,944 6,253 7,124 6,946 4,985 7,985 5,838 5,458 6,329
Net Income / (Loss) Continuing Operations		 5,908 5,933 5,944 6,253 7,124 6,946 4,985 7,985 5,838 5,458 6,329
Total Pre-Tax Income 		7,995 8,030 8,105 7,517 8,678 8,594 6,051 10,166 7,301 6,865 7,909
Total Revenue		 19,939 20,093 20,956 21,697 22,521 22,883 23,226 22,721 24,184 28,013 27,335
Net Interest Income / (Expense)		 10,775 11,001 11,666 12,380 12,919 13,052 12,825 12,494 14,728 17,396 16,289
Total Interest Income		 12,228 12,402 13,134 14,346 16,173 17,494 14,840 13,487 17,945 30,007 31,666
Loans and Leases Interest Income		 10,241 10,265 10,931 11,932 13,285 14,261 12,234 10,979 13,804 22,471 23,182
Investment Securities Interest Income		 1,866 2,001 2,078 2,232 2,616 2,893 2,428 2,365 3,378 4,485 5,111
Other Interest Income		 121 136 125 182 272 340 178 143 763 3,051 3,373
Total Interest Expense		 1,453 1,401 1,468 1,966 3,254 4,442 2,015 993 3,217 12,611 15,377
Deposits Interest Expense		 465 457 622 1,041 1,869 2,855 950 320 1,872 8,775 11,688
Short-Term Borrowings Interest Expense		 263 245 92 141 378 360 141 70 565 1,971 1,107
Long-Term Debt Interest Expense		 725 699 754 784 1,007 1,227 924 603 780 1,865 2,582
Total Non-Interest Income		 9,164 9,092 9,290 9,317 9,602 9,831 10,401 10,227 9,456 10,617 11,046
Trust Fees by Commissions		 1,252 1,321 1,427 1,522 1,619 1,673 1,736 1,832 2,209 2,459 2,660
Other Service Charges		 6,140 6,011 5,623 5,174 5,344 5,578 6,848 6,615 5,424 6,172 6,244
Net Realized & Unrealized Capital Gains on Investments		 14 1.00 22 57 30 73 177 103 20 -145 -154
Other Non-Interest Income		 1,578 1,575 1,512 1,529 1,539 1,598 1,640 1,677 1,803 2,131 2,296
Provision for Credit Losses		 1,229 1,132 1,324 1,390 1,379 1,504 3,806 -1,173 1,977 2,275 2,238
Total Non-Interest Expense		 10,715 10,931 11,527 12,790 12,464 12,785 13,369 13,728 14,906 18,873 17,188
Salaries and Employee Benefits		 4,523 5,979 5,212 5,746 6,162 6,325 7,938 8,728 9,157 10,416 10,554
Net Occupancy & Equipment Expense		 1,850 1,878 1,865 1,922 2,041 2,218 2,674 2,776 2,822 3,315 3,320
Marketing Expense		 382 361 435 542 429 426 318 366 456 726 619
Other Operating Expenses		 3,761 2,539 3,836 4,405 3,671 3,648 2,263 1,699 1,927 2,771 1,971
Amortization Expense		 199 174 179 175 161 168 176 159 215 636 569
Restructuring Charge		 - - - - - - 0.00 0.00 329 1,009 155
Income Tax Expense		 2,087 2,097 2,161 1,264 1,554 1,648 1,066 2,181 1,463 1,407 1,580
Net Income / (Loss) Attributable to Noncontrolling Interest		 57 54 56 35 28 32 26 22 13 29 30
Basic Earnings per Share		 $3.10 $3.18 $3.25 $3.53 $4.15 $4.16 $3.06 $5.11 $3.69 $3.27 $3.79
Weighted Average Basic Shares Outstanding		 1.80B 1.76B 1.72B 1.68B 1.63B 1.58B 1.51B 1.49B 1.49B 1.54B 1.56B
Diluted Earnings per Share		 $3.08 $3.16 $3.24 $3.51 $4.14 $4.16 $3.06 $5.10 $3.69 $3.27 $3.79
Weighted Average Diluted Shares Outstanding		 1.81B 1.77B 1.72B 1.68B 1.64B 1.58B 1.51B 1.49B 1.49B 1.54B 1.56B
Weighted Average Basic & Diluted Shares Outstanding		 1.89B 1.85B 1.81B 1.76B 1.71B 1.52B 1.50B 1.48B 1.53B 1.56B 1.56B
Cash Dividends to Common per Share		 $0.97 $1.01 $1.07 $1.16 $1.34 $1.58 $1.68 $1.76 $1.88 $1.93 $1.98

Quarterly Income Statements for U.S. Bancorp

This table shows U.S. Bancorp's 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 Q4 2023 Q1 2024 Q2 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 12/31/2023 3/31/2024 6/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,812 925 1,698 1,361 - 1,319 1,603 - 1,709 1,815
Consolidated Net Income / (Loss)		 1,816 930 1,704 1,369 - 1,326 1,611 - 1,716 1,821
Net Income / (Loss) Continuing Operations		 1,816 930 1,704 1,369 - 1,326 1,611 - 1,716 1,821
Total Pre-Tax Income 		2,297 1,101 2,159 1,751 - 1,673 2,056 - 2,159 2,293
Total Revenue		 6,296 6,336 7,141 7,141 - 6,685 6,838 - 6,928 6,975
Net Interest Income / (Expense)		 3,827 4,293 4,634 4,415 - 3,985 4,023 - 4,092 4,051
Total Interest Income		 4,728 5,974 6,964 7,526 - 7,764 7,985 - 7,516 7,604
Loans and Leases Interest Income		 3,652 4,570 5,308 5,643 - 5,749 5,802 - 5,561 5,607
Investment Securities Interest Income		 867 988 1,074 1,077 - 1,175 1,294 - 1,308 1,355
Other Interest Income		 209 416 582 806 - 840 889 - 647 642
Total Interest Expense		 901 1,681 2,330 3,111 - 3,779 3,962 - 3,424 3,553
Deposits Interest Expense		 534 1,081 1,505 1,939 - 2,884 3,028 - 2,511 2,541
Short-Term Borrowings Interest Expense		 169 318 449 740 - 270 296 - 249 291
Long-Term Debt Interest Expense		 198 282 376 432 - 625 638 - 664 721
Total Non-Interest Income		 2,469 2,043 2,507 2,726 - 2,700 2,815 - 2,836 2,924
Trust Fees by Commissions		 572 571 590 621 - 641 649 - 680 703
Other Service Charges		 1,421 1,048 1,426 1,554 - 1,485 1,633 - 1,585 1,696
Net Realized & Unrealized Capital Gains on Investments		 1.00 -18 -32 3.00 - 2.00 -36 - 0.00 -57
Other Non-Interest Income		 475 442 523 548 - 572 569 - 571 582
Provision for Credit Losses		 362 1,192 427 821 - 553 568 - 537 501
Total Non-Interest Expense		 3,637 4,043 4,555 4,569 - 4,459 4,214 - 4,232 4,181
Salaries and Employee Benefits		 2,260 2,402 2,646 2,646 - 2,691 2,619 - 2,637 2,600
Net Occupancy & Equipment Expense		 699 749 824 838 - 803 825 - 839 835
Marketing Expense		 126 144 122 122 - 136 158 - 182 161
Other Operating Expenses		 467 573 559 494 - 528 470 - 451 461
Amortization Expense		 43 85 160 159 - 146 142 - 123 124
Restructuring Charge		 42 90 244 310 - 155 0.00 - 0.00 0.00
Income Tax Expense		 481 171 455 382 - 347 445 - 443 472
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.00 5.00 6.00 8.00 - 7.00 8.00 - 7.00 6.00
Basic Earnings per Share		 $1.16 $0.55 $1.04 $0.84 - $0.78 $0.97 - $1.03 $1.11
Weighted Average Basic Shares Outstanding		 1.49B 1.49B 1.53B 1.53B 1.54B 1.56B 1.56B 1.56B 1.56B 1.56B
Diluted Earnings per Share		 $1.16 $0.55 $1.04 $0.84 - $0.78 $0.97 - $1.03 $1.11
Weighted Average Diluted Shares Outstanding		 1.49B 1.49B 1.53B 1.53B 1.54B 1.56B 1.56B 1.56B 1.56B 1.56B
Weighted Average Basic & Diluted Shares Outstanding		 1.49B 1.53B 1.53B 1.53B 1.56B 1.56B 1.56B 1.56B 1.56B 1.56B

Annual Cash Flow Statements for U.S. Bancorp

This table details how cash moves in and out of U.S. Bancorp'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		 2,177 493 4,558 3,800 1,948 952 40,175 -33,675 24,637 7,650 -4,690
Net Cash From Operating Activities		 5,332 8,782 5,336 6,472 10,564 4,889 3,716 9,870 21,119 8,447 11,273
Net Cash From Continuing Operating Activities		 5,332 8,782 5,336 6,472 10,564 4,889 3,716 9,870 21,119 8,447 11,273
Net Income / (Loss) Continuing Operations		 5,851 5,879 5,888 6,218 7,096 6,914 4,959 7,963 5,825 5,429 6,299
Consolidated Net Income / (Loss)		 5,851 5,879 5,888 6,218 7,096 6,914 4,959 7,963 5,825 5,429 6,299
Provision For Loan Losses		 1,229 1,132 1,324 1,390 - 1,504 3,806 -1,173 1,977 2,275 2,238
Depreciation Expense		 302 307 291 293 306 334 351 338 345 382 370
Amortization Expense		 199 174 179 175 161 168 176 159 215 636 569
Non-Cash Adjustments to Reconcile Net Income		 -2,249 1,290 -2,346 -1,604 1,991 -4,031 -5,576 2,583 12,757 -275 1,797
Net Cash From Investing Activities		 -29,812 -21,150 -17,958 -12,126 -8,977 -21,560 -15,440 -57,487 7,500 18,925 -24,534
Net Cash From Continuing Investing Activities		 -29,812 -21,150 -17,958 -12,180 -8,977 -21,560 -15,440 -57,487 7,500 18,925 -24,534
Purchase of Investment Securities		 -48,635 -47,525 -54,797 -31,016 -23,746 -45,615 -80,364 -103,935 -39,188 -11,564 -39,231
Sale and/or Maturity of Investments		 18,823 26,375 36,839 26,890 24,292 33,926 58,574 63,907 74,006 26,660 21,975
Other Investing Activities, net		 - - - -8,054 -9,523 -9,871 6,350 -17,459 -27,318 3,829 -7,278
Net Cash From Financing Activities		 26,657 12,861 17,180 9,454 361 17,623 51,899 13,942 -3,982 -19,722 8,571
Net Cash From Continuing Financing Activities		 26,657 12,861 17,180 9,454 361 17,623 51,899 13,942 -3,982 -19,722 8,571
Net Change in Deposits		 15,822 18,290 34,192 12,625 -1,740 16,441 67,854 26,313 -17,215 -12,291 6,001
Issuance of Debt		 18,679 3,051 10,715 12,122 12,078 19,483 14,501 2,626 8,732 15,583 12,017
Issuance of Preferred Equity		 0.00 745 0.00 993 565 0.00 486 2,221 437 0.00 0.00
Issuance of Common Equity		 453 295 355 159 86 88 15 43 21 951 32
Repayment of Debt		 -4,128 -5,311 -23,409 -10,517 -5,440 -11,119 -26,433 -11,402 8,287 -20,592 -5,803
Repurchase of Preferred Equity		 - 0.00 0.00 -1,085 - 0.00 0.00 -1,250 -1,100 0.00 0.00
Repurchase of Common Equity		 -2,200 -2,190 -2,556 -2,631 -2,822 -4,525 -1,672 -1,555 -69 -62 -173
Payment of Dividends		 -1,969 -2,019 -2,077 -2,212 -2,366 -2,745 -2,852 -2,887 -3,075 -3,311 -3,448
Other Financing Activities, Net		 0.00 0.00 -40 - - - 0.00 -167 0.00 0.00 -55
Cash Interest Paid		 1,476 1,434 1,591 2,086 3,056 4,404 2,199 1,061 2,717 12,282 15,382
Cash Income Taxes Paid		 748 742 595 555 365 941 1,025 535 767 645 499

Quarterly Cash Flow Statements for U.S. Bancorp

This table details how cash moves in and out of U.S. Bancorp's 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 Q4 2024 Q1 2025 Q2 2025
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 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 2,528 11,890 12,686 4,414 -6,288 - 15,793 -11,153 - -6,489 7,794
Net Cash From Operating Activities		 3,505 6,888 842 3,316 3,873 - 2,661 2,874 - -285 2,031
Net Cash From Continuing Operating Activities		 3,505 6,888 842 3,316 3,873 - 2,661 2,874 - -285 2,031
Net Income / (Loss) Continuing Operations		 1,812 925 1,698 1,361 1,523 - 1,319 1,603 - 1,709 1,815
Consolidated Net Income / (Loss)		 1,812 925 1,698 1,361 1,523 - 1,319 1,603 - 1,709 1,815
Provision For Loan Losses		 362 1,192 427 821 515 - 553 568 - 537 501
Depreciation Expense		 85 90 97 96 95 - 90 92 - 92 93
Amortization Expense		 43 85 160 159 161 - 146 142 - 123 124
Non-Cash Adjustments to Reconcile Net Income		 1,203 4,596 -1,540 879 1,579 - 553 469 - -2,746 -502
Net Cash From Investing Activities		 -7,561 34,577 4,943 6,546 5,636 - -4,953 -8,328 - -2,548 -1,370
Net Cash From Continuing Investing Activities		 -7,561 34,577 4,943 6,546 5,636 - -4,953 -8,328 - -2,548 -1,370
Purchase of Investment Securities		 -3,827 -7,531 -3,011 -2,727 -2,674 - -5,472 -9,722 - -3,603 -10,624
Sale and/or Maturity of Investments		 6,457 39,009 7,789 11,494 3,308 - 1,647 5,171 - 4,504 12,973
Other Investing Activities, net		 -10,191 3,099 165 -2,221 5,002 - -1,128 -3,777 - -3,449 -3,719
Net Cash From Financing Activities		 6,584 -29,575 6,901 -5,448 -15,797 - 18,085 -5,699 - -3,656 7,133
Net Cash From Continuing Financing Activities		 6,584 -29,575 6,901 -5,448 -15,797 - 18,085 -5,699 - -3,656 7,133
Net Change in Deposits		 4,046 -32,280 -19,237 16,235 -3,243 - 15,751 -4,278 - -5,782 6,191
Issuance of Debt		 3,528 -10,169 28,577 -20,796 -10,414 - 5,388 837 - 5,230 3,618
Issuance of Common Equity		 - 5.00 6.00 - 936 - 13 1.00 - 16 6.00
Repayment of Debt		 -244 13,685 -1,594 -50 -2,262 - -2,172 -1,380 - -2,101 -1,649
Repurchase of Common Equity		 - -14 -44 - -1.00 - -49 -1.00 - -160 -106
Payment of Dividends		 -746 -802 -807 -837 -813 - -846 -871 - -859 -880

Annual Balance Sheets for U.S. Bancorp

This table presents U.S. Bancorp'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		 402,529 421,853 445,964 462,040 467,374 495,426 553,905 573,284 674,805 663,491 678,318
Cash and Due from Banks		 10,654 11,147 15,705 19,505 21,453 22,405 62,580 28,905 53,542 61,192 56,502
Trading Account Securities		 105,835 108,771 114,101 116,053 112,165 128,191 145,601 140,738 163,850 155,952 167,199
Loans and Leases, Net of Allowance		 243,812 256,986 269,394 276,507 282,837 292,082 290,393 0.00 381,277 366,456 372,249
Loans and Leases		 247,851 260,849 273,207 280,432 286,810 296,102 297,707 - 388,213 373,835 379,832
Allowance for Loan and Lease Losses		 4,039 3,863 3,813 3,925 3,973 4,020 7,314 - 6,936 7,379 7,583
Goodwill		 9,389 9,361 9,344 9,434 9,369 9,655 9,918 10,262 12,373 12,489 12,536
Intangible Assets		 3,162 3,350 3,303 3,228 3,392 3,223 2,864 3,738 7,155 6,084 5,547
Other Assets		 27,059 29,725 31,674 311,388 33,645 36,168 39,081 80,032 52,750 57,695 60,720
Total Liabilities & Shareholders' Equity		 402,529 421,853 445,964 462,040 467,374 495,426 553,905 573,284 674,805 663,491 678,318
Total Liabilities		 358,361 375,036 398,031 412,374 415,717 442,943 500,180 517,897 623,573 607,720 619,278
Non-Interest Bearing Deposits		 77,323 83,766 86,097 87,557 81,811 75,590 118,089 134,901 137,743 89,989 84,158
Interest Bearing Deposits		 205,410 216,634 248,493 259,658 263,664 286,326 311,681 321,182 387,233 422,323 434,151
Short-Term Debt		 29,893 27,877 13,963 16,651 14,139 23,723 11,766 11,796 31,216 15,279 15,518
Long-Term Debt		 32,260 32,078 33,323 32,259 41,340 40,167 41,297 32,125 39,829 51,480 58,002
Other Long-Term Liabilities		 13,475 14,681 16,155 16,249 14,763 17,137 17,347 17,893 27,552 28,649 27,449
Total Equity & Noncontrolling Interests		 44,168 46,817 47,933 49,666 51,657 52,483 53,725 55,387 51,232 55,771 59,040
Total Preferred & Common Equity		 43,479 46,131 47,298 49,040 51,029 51,853 53,095 54,918 50,766 55,306 58,578
Total Common Equity		 43,479 46,131 47,298 49,040 45,045 51,853 47,112 54,918 50,766 55,306 58,578
Common Stock		 8,334 8,397 8,461 -9,117 8,490 8,496 8,532 8,560 8,733 8,694 8,736
Retained Earnings		 42,530 46,377 50,151 54,142 59,065 63,186 64,188 69,201 71,901 74,026 76,863
Treasury Stock		 -11,245 -13,125 -15,280 - - - -25,930 -27,271 -25,269 -24,126 -24,065
Accumulated Other Comprehensive Income / (Loss)		 -896 -1,019 -1,535 -1,404 -2,322 -1,373 322 -1,943 -11,407 -10,096 -9,764
Other Equity Adjustments		 4,756 5,501 5,501 5,419 -20,188 -18,456 - 6,371 6,808 6,808 6,808
Noncontrolling Interest		 689 686 635 626 628 630 630 469 466 465 462

Quarterly Balance Sheets for U.S. Bancorp

This table presents U.S. Bancorp'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		 674,805 682,377 680,825 668,039 663,491 683,606 680,058 686,469 678,318 676,489 686,370
Cash and Due from Banks		 53,542 67,228 70,642 64,354 61,192 76,985 65,832 73,562 56,502 50,013 57,807
Trading Account Securities		 163,850 67,872 71,582 69,543 155,952 157,454 163,867 164,940 167,199 166,528 170,744
Loans and Leases, Net of Allowance		 381,277 0.00 0.00 0.00 366,456 367,074 368,584 366,604 372,249 374,235 372,706
Loans and Leases		 388,213 - - - 373,835 374,588 376,133 374,164 379,832 381,819 380,243
Allowance for Loan and Lease Losses		 6,936 - - - 7,379 7,514 7,549 7,560 7,583 7,584 7,537
Goodwill		 12,373 12,560 12,486 12,472 12,489 12,479 12,476 12,573 12,536 12,555 12,637
Intangible Assets		 7,155 6,883 6,634 6,435 6,084 6,031 5,757 5,488 5,547 5,381 5,285
Other Assets		 52,750 143,253 143,522 143,603 57,695 60,046 59,972 59,717 60,720 64,195 63,566
Total Liabilities & Shareholders' Equity		 674,805 682,377 680,825 668,039 663,491 683,606 680,058 686,469 678,318 676,489 686,370
Total Liabilities		 623,573 628,923 627,341 614,461 607,720 627,573 623,173 627,148 619,278 615,931 624,474
Non-Interest Bearing Deposits		 137,743 124,595 104,996 98,006 89,989 91,220 86,756 86,838 84,158 84,086 86,972
Interest Bearing Deposits		 387,233 380,744 416,604 420,352 422,323 436,843 437,029 434,293 434,151 428,439 431,745
Short-Term Debt		 31,216 56,875 32,334 21,900 15,279 17,102 16,557 23,708 15,518 17,158 15,039
Long-Term Debt		 39,829 42,045 45,283 43,074 51,480 52,693 52,720 54,839 58,002 59,859 64,013
Other Long-Term Liabilities		 27,552 24,664 28,124 31,129 28,649 29,715 30,111 27,470 27,449 26,389 26,705
Total Equity & Noncontrolling Interests		 51,232 53,454 53,484 53,578 55,771 56,033 56,885 59,321 59,040 60,558 61,896
Total Preferred & Common Equity		 50,766 52,989 53,019 53,113 55,306 55,568 56,420 58,859 58,578 60,096 61,438
Total Common Equity		 50,766 52,989 53,019 53,113 55,306 55,568 56,420 58,859 58,578 60,096 61,438
Common Stock		 8,733 8,720 8,763 8,705 8,694 8,663 8,709 8,750 8,736 8,699 8,727
Retained Earnings		 71,901 72,807 73,355 74,023 74,026 74,473 75,231 76,057 76,863 77,691 78,652
Treasury Stock		 -25,269 -25,193 -25,189 -24,168 -24,126 -24,023 -24,020 -24,010 -24,065 -24,060 -24,140
Accumulated Other Comprehensive Income / (Loss)		 -11,407 -10,153 -10,718 -12,255 -10,096 -10,353 -10,308 -8,746 -9,764 -9,042 -8,609
Other Equity Adjustments		 6,808 6,808 6,808 6,808 6,808 6,808 6,808 6,808 6,808 6,808 6,808
Noncontrolling Interest		 466 465 465 465 465 465 465 462 462 462 458

Annual Metrics And Ratios for U.S. Bancorp

This table displays calculated financial ratios and metrics derived from U.S. Bancorp'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		 2.90% 0.77% 4.30% 3.54% 3.80% 1.61% 1.50% -2.17% 6.44% 15.83% -2.42%
EBITDA Growth		 2.56% 0.18% 0.75% -6.88% 14.53% -0.54% -27.68% 62.10% -26.28% 0.28% 12.24%
EBIT Growth		 2.98% 0.44% 0.93% -7.25% 15.45% -0.97% -29.59% 68.01% -28.18% -5.97% 15.21%
NOPAT Growth		 3.07% 0.42% 0.19% 5.20% 13.93% -2.50% -28.23% 60.18% -26.89% -6.51% 15.96%
Net Income Growth		 3.07% 0.42% 0.19% 5.20% 13.93% -2.50% -28.23% 60.18% -26.89% -6.51% 15.96%
EPS Growth		 2.67% 2.60% 2.53% 8.33% 17.95% 0.48% -26.44% 66.67% -27.65% -11.38% 15.90%
Operating Cash Flow Growth		 -53.42% 64.70% -39.24% 21.29% 63.23% -53.72% -23.99% 165.61% 113.97% -60.00% 33.46%
Free Cash Flow Firm Growth		 -231.08% 150.07% 219.17% -83.45% -149.59% -59.54% 735.97% 6.14% -210.77% 130.38% -171.10%
Invested Capital Growth		 18.84% 0.42% -10.82% 3.53% 8.68% 8.62% -8.24% -7.00% 23.13% 0.21% 8.19%
Revenue Q/Q Growth		 1.43% 0.22% 0.37% 0.00% 0.00% -0.69% 0.35% -0.30% 2.89% 1.43% 0.00%
EBITDA Q/Q Growth		 1.74% 0.21% -0.13% 1,609.85% 1,870.91% -3.16% 1.18% 1.99% -11.15% -0.33% 0.00%
EBIT Q/Q Growth		 1.89% 0.29% -0.06% 0.00% 0.00% -3.44% 1.22% 2.18% -12.43% -1.45% 0.00%
NOPAT Q/Q Growth		 0.51% -0.20% 0.03% 0.00% 0.00% -5.04% 0.65% 1.95% -11.36% -1.25% 0.00%
Net Income Q/Q Growth		 0.51% -0.20% 0.03% 0.00% 0.00% -5.04% 0.65% 1.95% -11.36% -1.25% 0.00%
EPS Q/Q Growth		 1.32% 0.00% 0.62% 0.00% 0.00% -4.15% 0.66% 2.62% -12.35% -2.10% 0.00%
Operating Cash Flow Q/Q Growth		 -26.51% 23.39% -7.51% -25.94% 36.40% -35.68% -21.32% 21.88% 41.42% -43.38% 0.00%
Free Cash Flow Firm Q/Q Growth		 11.23% 1.50% 93.21% 23.23% 91.05% -117.51% 160.55% 39.88% -329.92% 167.14% 0.00%
Invested Capital Q/Q Growth		 1.60% 1.51% -6.71% -1.15% -7.46% 5.79% -2.35% -6.43% 16.15% 3.36% 0.00%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 42.61% 42.36% 40.92% 36.80% 40.61% 39.75% 28.32% 46.93% 32.51% 28.14% 32.37%
EBIT Margin		 40.10% 39.96% 38.68% 34.65% 38.53% 37.56% 26.05% 44.74% 30.19% 24.51% 28.93%
Profit (Net Income) Margin		 29.63% 29.53% 28.36% 28.82% 31.63% 30.35% 21.46% 35.14% 24.14% 19.48% 23.15%
Tax Burden Percent		 73.90% 73.89% 73.34% 83.18% 82.09% 80.82% 82.38% 78.55% 79.96% 79.50% 80.02%
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		 26.10% 26.11% 26.66% 16.82% 17.91% 19.18% 17.62% 21.45% 20.04% 20.50% 19.98%
Return on Invested Capital (ROIC)		 6.04% 5.57% 5.89% 6.45% 6.93% 6.22% 4.47% 7.75% 5.27% 4.46% 4.96%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.04% 5.57% 5.89% 6.45% 6.93% 6.22% 4.47% 7.75% 5.27% 4.46% 4.96%
Return on Net Nonoperating Assets (RNNOA)		 7.71% 7.47% 6.66% 6.36% 7.14% 7.12% 4.92% 6.89% 5.68% 5.74% 6.06%
Return on Equity (ROE)		 13.74% 13.04% 12.55% 12.81% 14.06% 13.34% 9.39% 14.64% 10.95% 10.20% 11.03%
Cash Return on Invested Capital (CROIC)		 -11.18% 5.15% 17.32% 2.99% -1.40% -2.05% 13.06% 15.01% -15.46% 4.25% -2.90%
Operating Return on Assets (OROA)		 2.09% 1.95% 1.87% 1.66% 1.87% 1.79% 1.15% 1.80% 1.17% 1.03% 1.18%
Return on Assets (ROA)		 1.54% 1.44% 1.37% 1.38% 1.53% 1.44% 0.95% 1.42% 0.94% 0.82% 0.94%
Return on Common Equity (ROCE)		 13.52% 12.84% 12.37% 12.65% 13.06% 12.41% 8.75% 13.69% 10.86% 10.11% 10.94%
Return on Equity Simple (ROE_SIMPLE)		 13.59% 12.86% 12.57% 12.75% 13.96% 13.40% 9.39% 14.54% 11.50% 9.87% 10.80%
Net Operating Profit after Tax (NOPAT)		 5,908 5,933 5,944 6,253 7,124 6,946 4,985 7,985 5,838 5,458 6,329
NOPAT Margin		 29.63% 29.53% 28.36% 28.82% 31.63% 30.35% 21.46% 35.14% 24.14% 19.48% 23.15%
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		 33.88% 40.90% 35.85% 37.84% 38.33% 39.20% 47.06% 52.24% 51.42% 51.61% 53.02%
Operating Expenses to Revenue		 53.74% 54.40% 55.01% 58.95% 55.34% 55.87% 57.56% 60.42% 61.64% 67.37% 62.88%
Earnings before Interest and Taxes (EBIT)		 7,995 8,030 8,105 7,517 8,678 8,594 6,051 10,166 7,301 6,865 7,909
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 8,496 8,511 8,575 7,985 9,145 9,096 6,578 10,663 7,861 7,883 8,848
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.34 1.20 1.41 1.41 1.31 1.47 1.28 1.35 1.16 1.16 1.27
Price to Tangible Book Value (P/TBV)		 1.89 1.66 1.92 1.90 1.83 1.96 1.76 1.81 1.88 1.75 1.84
Price to Revenue (P/Rev)		 2.93 2.76 3.17 3.19 2.62 3.33 2.60 3.25 2.43 2.30 2.73
Price to Earnings (P/E)		 9.97 9.43 11.29 11.13 8.32 11.03 12.19 9.29 10.07 11.86 11.85
Dividend Yield		 2.96% 3.19% 2.74% 2.78% 3.67% 3.24% 4.19% 3.53% 4.76% 4.67% 4.14%
Earnings Yield		 10.03% 10.60% 8.86% 8.99% 12.01% 9.06% 8.21% 10.77% 9.93% 8.43% 8.44%
Enterprise Value to Invested Capital (EV/IC)		 1.04 0.98 1.04 1.01 0.93 1.02 0.54 0.90 0.63 0.57 0.69
Enterprise Value to Revenue (EV/Rev)		 5.54 5.22 4.71 4.57 4.43 5.17 2.48 3.94 3.17 2.51 3.37
Enterprise Value to EBITDA (EV/EBITDA)		 13.01 12.33 11.51 12.43 10.90 13.02 8.75 8.39 9.75 8.94 10.41
Enterprise Value to EBIT (EV/EBIT)		 13.83 13.07 12.18 13.20 11.49 13.78 9.51 8.80 10.49 10.26 11.65
Enterprise Value to NOPAT (EV/NOPAT)		 18.71 17.69 16.60 15.87 14.00 17.04 11.54 11.20 13.12 12.91 14.56
Enterprise Value to Operating Cash Flow (EV/OCF)		 20.73 11.95 18.50 15.33 9.44 24.22 15.48 9.06 3.63 8.34 8.17
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 19.14 5.64 34.27 0.00 0.00 3.95 5.78 0.00 13.53 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.41 1.28 0.99 0.98 1.07 1.22 0.99 0.79 1.39 1.20 1.25
Long-Term Debt to Equity		 0.73 0.69 0.70 0.65 0.80 0.77 0.77 0.58 0.78 0.92 0.98
Financial Leverage		 1.28 1.34 1.13 0.99 1.03 1.15 1.10 0.89 1.08 1.29 1.22
Leverage Ratio		 8.92 9.06 9.16 9.30 9.17 9.25 9.88 10.33 11.71 12.51 11.69
Compound Leverage Factor		 8.92 9.06 9.16 9.30 9.17 9.25 9.88 10.33 11.71 12.51 11.69
Debt to Total Capital		 58.46% 56.15% 49.66% 49.62% 51.78% 54.90% 49.69% 44.23% 58.10% 54.48% 55.46%
Short-Term Debt to Total Capital		 28.12% 26.11% 14.66% 16.89% 13.20% 20.39% 11.02% 11.88% 25.53% 12.47% 11.71%
Long-Term Debt to Total Capital		 30.34% 30.04% 35.00% 32.73% 38.59% 34.52% 38.67% 32.35% 32.57% 42.01% 43.76%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 5.59% 0.00% 5.60% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.65% 0.64% 0.67% 0.64% 0.59% 0.54% 0.59% 0.47% 0.38% 0.38% 0.35%
Common Equity to Total Capital		 40.89% 43.21% 49.67% 49.75% 42.04% 44.56% 44.12% 55.30% 41.52% 45.14% 44.19%
Debt to EBITDA		 7.32 7.04 5.51 6.13 6.07 7.02 8.07 4.12 9.04 8.47 8.31
Net Debt to EBITDA		 6.06 5.73 3.68 3.68 3.72 4.56 -1.45 1.41 2.23 0.71 1.92
Long-Term Debt to EBITDA		 3.80 3.77 3.89 4.04 4.52 4.42 6.28 3.01 5.07 6.53 6.56
Debt to NOPAT		 10.52 10.11 7.96 7.82 7.79 9.20 10.64 5.50 12.17 12.23 11.62
Net Debt to NOPAT		 8.72 8.23 5.31 4.70 4.78 5.97 -1.91 1.88 3.00 1.02 2.69
Long-Term Debt to NOPAT		 5.46 5.41 5.61 5.16 5.80 5.78 8.28 4.02 6.82 9.43 9.16
Noncontrolling Interest Sharing Ratio		 1.61% 1.51% 1.39% 1.29% 7.14% 6.95% 6.82% 6.49% 0.88% 0.87% 0.81%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -10,949 5,482 17,497 2,896 -1,436 -2,291 14,570 15,465 -17,131 5,205 -3,701
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		 -7.54 3.91 11.92 1.47 -0.44 -0.52 7.23 15.57 -5.33 0.41 -0.24
Operating Cash Flow to Interest Expense		 3.67 6.27 3.63 3.29 3.25 1.10 1.84 9.94 6.56 0.67 0.73
Operating Cash Flow Less CapEx to Interest Expense		 3.67 6.27 3.63 3.29 3.25 1.10 1.84 9.94 6.56 0.67 0.73
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 7.63 7.83 8.46 8.90 9.21 7.43 6.48 6.71 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 106,321 106,772 95,219 98,576 107,136 116,373 106,788 99,308 122,277 122,530 132,560
Invested Capital Turnover		 0.20 0.19 0.21 0.22 0.22 0.20 0.21 0.22 0.22 0.23 0.21
Increase / (Decrease) in Invested Capital		 16,857 451 -11,553 3,357 8,560 9,237 -9,585 -7,480 22,969 253 10,030
Enterprise Value (EV)		 110,544 104,933 98,699 99,235 99,702 118,388 57,528 89,436 76,623 70,440 92,119
Market Capitalization		 58,356 55,439 66,483 69,204 59,064 76,273 60,432 73,951 58,654 64,408 74,639
Book Value per Share		 $24.30 $26.37 $27.83 $29.55 $27.87 $33.20 $31.27 $37.04 $34.17 $35.52 $37.55
Tangible Book Value per Share		 $17.28 $19.11 $20.39 $21.92 $19.98 $24.95 $22.79 $27.60 $21.02 $23.59 $25.96
Total Capital		 106,321 106,772 95,219 98,576 107,136 116,373 106,788 99,308 122,277 122,530 132,560
Total Debt		 62,153 59,955 47,286 48,910 55,479 63,890 53,063 43,921 71,045 66,759 73,520
Total Long-Term Debt		 32,260 32,078 33,323 32,259 41,340 40,167 41,297 32,125 39,829 51,480 58,002
Net Debt		 51,499 48,808 31,581 29,405 34,026 41,485 -9,517 15,016 17,503 5,567 17,018
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)		 62,153 59,955 47,286 48,910 55,479 63,890 53,063 43,921 71,045 66,759 73,520
Total Depreciation and Amortization (D&A)		 501 481 470 468 467 502 527 497 560 1,018 939
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.10 $3.18 $3.25 $3.53 $4.15 $4.16 $3.06 $5.11 $3.69 $3.27 $3.79
Adjusted Weighted Average Basic Shares Outstanding		 1.80B 1.76B 1.72B 1.68B 1.63B 1.58B 1.51B 1.49B 1.49B 1.54B 1.56B
Adjusted Diluted Earnings per Share		 $3.08 $3.16 $3.24 $3.51 $4.14 $4.16 $3.06 $5.10 $3.69 $3.27 $3.79
Adjusted Weighted Average Diluted Shares Outstanding		 1.81B 1.77B 1.72B 1.68B 1.64B 1.58B 1.51B 1.49B 1.49B 1.54B 1.56B
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		 1.78B 1.74B 1.69B 1.65B 1.60B 1.52B 1.50B 1.48B 1.53B 1.56B 1.56B
Normalized Net Operating Profit after Tax (NOPAT)		 5,908 5,933 5,944 6,253 7,124 6,946 4,985 7,985 6,101 6,260 6,453
Normalized NOPAT Margin		 29.63% 29.53% 28.36% 28.82% 31.63% 30.35% 21.46% 35.14% 25.23% 22.35% 23.61%
Pre Tax Income Margin		 40.10% 39.96% 38.68% 34.65% 38.53% 37.56% 26.05% 44.74% 30.19% 24.51% 28.93%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.50 5.73 5.52 3.82 2.67 1.93 3.00 10.24 2.27 0.54 0.51
NOPAT to Interest Expense		 4.07 4.23 4.05 3.18 2.19 1.56 2.47 8.04 1.81 0.43 0.41
EBIT Less CapEx to Interest Expense		 5.50 5.73 5.52 3.82 2.67 1.93 3.00 10.24 2.27 0.54 0.51
NOPAT Less CapEx to Interest Expense		 4.07 4.23 4.05 3.18 2.19 1.56 2.47 8.04 1.81 0.43 0.41
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 33.33% 34.03% 34.94% 35.38% 33.21% 39.52% 57.21% 36.16% 52.67% 60.66% 54.48%
Augmented Payout Ratio		 70.57% 70.94% 77.94% 77.45% 72.82% 104.66% 90.75% 55.63% 53.85% 61.80% 57.21%

Quarterly Metrics And Ratios for U.S. Bancorp

This table displays calculated financial ratios and metrics derived from U.S. Bancorp's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q4 2024 Q1 2025 Q2 2025
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 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 7.37% 12.00% 28.23% 19.35% 11.18% 0.00% -6.39% -4.24% 0.00% 3.64% 2.00%
EBITDA Growth		 -10.98% -43.59% 15.76% -3.23% -8.82% -100.00% -20.99% 14.16% 0.00% 24.36% 9.61%
EBIT Growth		 -11.59% -48.48% 10.43% -10.11% -14.89% -100.00% -22.51% 17.42% 0.00% 29.05% 11.53%
NOPAT Growth		 -10.72% -44.58% 9.37% -10.76% -16.08% -100.00% -22.18% 17.68% 0.00% 29.41% 13.04%
Net Income Growth		 -10.72% -44.58% 9.37% -10.76% -16.08% 0.00% -22.18% 17.68% 0.00% 29.41% 13.04%
EPS Growth		 -10.77% -48.60% 5.05% -15.15% -21.55% 0.00% -25.00% 15.48% 0.00% 32.05% 14.43%
Operating Cash Flow Growth		 32.41% 879.80% -90.07% 47.44% 10.50% 0.00% 216.03% -13.33% 0.00% -110.71% -29.33%
Free Cash Flow Firm Growth		 -49.01% -340.65% -1,894.20% -1,806.16% -538.49% 98.85% 161.90% 124.91% -3,864.43% -135.99% -297.94%
Invested Capital Growth		 -0.82% 23.13% 44.24% 26.74% 12.61% 0.21% -17.42% -3.77% 8.19% 9.34% 11.72%
Revenue Q/Q Growth		 5.23% 0.64% 12.71% 0.00% -1.97% 0.00% -0.68% 2.29% 0.00% 0.00% 0.68%
EBITDA Q/Q Growth		 16.98% -47.38% 89.34% -16.97% 10.22% -100.00% 52.72% 19.96% 0.00% 0.00% 5.73%
EBIT Q/Q Growth		 17.92% -52.07% 96.09% -18.90% 11.65% -100.00% 67.30% 22.89% 0.00% 0.00% 6.21%
NOPAT Q/Q Growth		 18.38% -48.79% 83.23% -19.66% 11.32% -100.00% 54.01% 21.49% 0.00% 0.00% 6.12%
Net Income Q/Q Growth		 18.38% -48.79% 83.23% -19.66% 11.32% 0.00% 54.01% 21.49% 0.00% 0.00% 6.12%
EPS Q/Q Growth		 17.17% -52.59% 89.09% -19.23% 8.33% 0.00% 62.50% 24.36% 0.00% 0.00% 7.77%
Operating Cash Flow Q/Q Growth		 55.85% 96.52% -87.78% 293.82% 16.80% 0.00% 539.66% 8.00% 0.00% 0.00% 812.63%
Free Cash Flow Firm Q/Q Growth		 73.98% -922.04% -104.32% 41.61% 55.29% 97.85% 4,484.21% -76.50% 0.00% -0.01% -29.25%
Invested Capital Q/Q Growth		 1.77% 16.15% 24.61% -13.96% -9.57% 3.36% 2.69% 0.27% 0.00% 3.78% 2.45%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 38.52% 20.14% 33.83% 28.09% 31.59% 0.00% 28.56% 33.49% 0.00% 34.27% 35.99%
EBIT Margin		 36.48% 17.38% 30.23% 24.52% 27.93% 0.00% 25.03% 30.07% 0.00% 31.16% 32.87%
Profit (Net Income) Margin		 28.84% 14.68% 23.86% 19.17% 21.77% 0.00% 19.84% 23.56% 0.00% 24.77% 26.11%
Tax Burden Percent		 79.06% 84.47% 78.93% 78.18% 77.95% 0.00% 79.26% 78.36% 0.00% 79.48% 79.42%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 0.00% 100.00% 100.00% 0.00% 100.00% 100.00%
Effective Tax Rate		 20.94% 15.53% 21.07% 21.82% 22.05% 0.00% 20.74% 21.64% 0.00% 20.52% 20.58%
Return on Invested Capital (ROIC)		 6.41% 3.20% 4.76% 4.40% 5.37% 0.00% 3.93% 4.99% 0.00% 5.19% 5.42%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.41% 3.20% 4.76% 4.40% 5.37% 0.00% 3.93% 4.99% 0.00% 5.19% 5.42%
Return on Net Nonoperating Assets (RNNOA)		 6.83% 3.45% 6.93% 5.66% 6.47% 0.00% 6.06% 6.64% 0.00% 6.53% 6.77%
Return on Equity (ROE)		 13.25% 6.66% 11.69% 10.06% 11.84% 0.00% 9.98% 11.64% 0.00% 11.72% 12.18%
Cash Return on Invested Capital (CROIC)		 7.05% -15.46% -31.59% -18.63% -6.93% 4.25% 22.74% 7.98% -2.90% -3.82% -5.88%
Operating Return on Assets (OROA)		 1.47% 0.67% 1.23% 1.04% 1.22% 0.00% 1.01% 1.20% 0.00% 1.26% 1.33%
Return on Assets (ROA)		 1.16% 0.57% 0.97% 0.81% 0.95% 0.00% 0.80% 0.94% 0.00% 1.00% 1.06%
Return on Common Equity (ROCE)		 12.33% 6.60% 11.59% 9.97% 11.73% 0.00% 9.90% 11.54% 0.00% 11.62% 12.09%
Return on Equity Simple (ROE_SIMPLE)		 13.86% 0.00% 11.29% 10.98% 10.41% 0.00% 9.14% 9.43% 0.00% 11.18% 11.28%
Net Operating Profit after Tax (NOPAT)		 1,816 930 1,704 1,369 1,524 0.00 1,326 1,611 0.00 1,716 1,821
NOPAT Margin		 28.84% 14.68% 23.86% 19.17% 21.77% 0.00% 19.84% 23.56% 0.00% 24.77% 26.11%
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		 49.00% 52.00% 50.30% 50.50% 51.64% 0.00% 54.30% 52.68% 0.00% 52.80% 51.56%
Operating Expenses to Revenue		 57.77% 63.81% 63.79% 63.98% 64.71% 0.00% 66.70% 61.63% 0.00% 61.09% 59.94%
Earnings before Interest and Taxes (EBIT)		 2,297 1,101 2,159 1,751 1,955 0.00 1,673 2,056 0.00 2,159 2,293
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,425 1,276 2,416 2,006 2,211 0.00 1,909 2,290 0.00 2,374 2,510
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.15 1.16 0.98 0.91 0.92 1.16 1.24 1.10 1.27 1.10 1.15
Price to Tangible Book Value (P/TBV)		 1.67 1.88 1.54 1.42 1.43 1.75 1.85 1.62 1.84 1.56 1.62
Price to Revenue (P/Rev)		 2.33 2.43 2.01 1.79 1.77 2.30 2.49 2.27 2.73 2.39 2.54
Price to Earnings (P/E)		 8.34 10.07 8.67 8.31 8.89 11.86 13.61 11.71 11.85 9.85 10.22
Dividend Yield		 5.04% 4.76% 5.62% 6.11% 6.01% 4.67% 4.39% 4.91% 4.14% 4.71% 4.42%
Earnings Yield		 12.00% 9.93% 11.53% 12.03% 11.25% 8.43% 7.35% 8.54% 8.44% 10.16% 9.79%
Enterprise Value to Invested Capital (EV/IC)		 0.67 0.63 0.55 0.42 0.42 0.57 0.49 0.52 0.69 0.68 0.65
Enterprise Value to Revenue (EV/Rev)		 3.02 3.17 3.26 2.07 1.81 2.51 2.25 2.42 3.37 3.38 3.33
Enterprise Value to EBITDA (EV/EBITDA)		 8.01 9.75 10.24 6.85 6.32 8.94 8.41 8.60 10.41 10.02 9.67
Enterprise Value to EBIT (EV/EBIT)		 8.50 10.49 11.18 7.61 7.18 10.26 9.72 9.85 11.65 11.12 10.68
Enterprise Value to NOPAT (EV/NOPAT)		 10.76 13.12 14.02 9.56 9.05 12.91 12.21 12.38 14.56 13.89 13.31
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.75 3.63 6.22 3.82 3.35 8.34 6.04 6.70 8.17 11.21 12.32
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.52 0.00 0.00 0.00 0.00 13.53 1.96 6.42 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.19 1.39 1.85 1.45 1.21 1.20 1.25 1.22 1.25 1.27 1.28
Long-Term Debt to Equity		 0.67 0.78 0.79 0.85 0.80 0.92 0.94 0.93 0.98 0.99 1.03
Financial Leverage		 1.07 1.08 1.45 1.29 1.20 1.29 1.54 1.33 1.22 1.26 1.25
Leverage Ratio		 11.42 11.71 12.07 12.41 12.50 12.51 12.48 12.33 11.69 11.67 11.50
Compound Leverage Factor		 11.42 11.71 12.07 12.41 12.50 0.00 12.48 12.33 0.00 11.67 11.50
Debt to Total Capital		 54.42% 58.10% 64.92% 59.20% 54.81% 54.48% 55.47% 54.91% 55.46% 55.98% 56.09%
Short-Term Debt to Total Capital		 23.81% 25.53% 37.33% 24.66% 18.47% 12.47% 13.59% 13.12% 11.71% 12.47% 10.67%
Long-Term Debt to Total Capital		 30.61% 32.57% 27.59% 34.54% 36.33% 42.01% 41.88% 41.79% 43.76% 43.51% 45.42%
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		 0.44% 0.38% 0.31% 0.35% 0.39% 0.38% 0.37% 0.37% 0.35% 0.34% 0.32%
Common Equity to Total Capital		 45.13% 41.52% 34.78% 40.44% 44.80% 45.14% 44.16% 44.72% 44.19% 43.68% 43.59%
Debt to EBITDA		 6.48 9.04 12.08 9.56 8.22 8.47 9.46 9.04 8.31 8.27 8.29
Net Debt to EBITDA		 1.77 2.23 3.87 0.86 0.08 0.71 -0.97 0.45 1.92 2.90 2.23
Long-Term Debt to EBITDA		 3.64 5.07 5.13 5.57 5.45 6.53 7.14 6.88 6.56 6.43 6.71
Debt to NOPAT		 8.70 12.17 16.53 13.34 11.76 12.23 13.74 13.02 11.62 11.46 11.41
Net Debt to NOPAT		 2.38 3.00 5.30 1.20 0.11 1.02 -1.42 0.65 2.69 4.02 3.07
Long-Term Debt to NOPAT		 4.89 6.82 7.03 7.78 7.79 9.43 10.37 9.91 9.16 8.91 9.24
Noncontrolling Interest Sharing Ratio		 6.91% 0.88% 0.89% 0.91% 0.92% 0.00% 0.85% 0.84% 0.00% 0.80% 0.78%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2,681 -22,039 -45,029 -26,292 -11,756 -253 27,872 6,550 -10,030 -10,031 -12,965
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		 2.98 -13.11 -19.33 -8.45 -3.34 0.00 7.38 1.65 0.00 -2.93 -3.65
Operating Cash Flow to Interest Expense		 3.89 4.10 0.36 1.07 1.10 0.00 0.70 0.73 0.00 -0.08 0.57
Operating Cash Flow Less CapEx to Interest Expense		 3.89 4.10 0.36 1.07 1.10 0.00 0.70 0.73 0.00 -0.08 0.57
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		 7.33 0.00 7.42 7.83 8.16 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 105,272 122,277 152,374 131,101 118,552 122,530 125,828 126,162 132,560 137,575 140,948
Invested Capital Turnover		 0.22 0.22 0.20 0.23 0.25 0.23 0.20 0.21 0.21 0.21 0.21
Increase / (Decrease) in Invested Capital		 -865 22,969 46,733 27,661 13,280 253 -26,546 -4,939 10,030 11,747 14,786
Enterprise Value (EV)		 70,898 76,623 83,891 55,626 50,024 70,440 62,014 65,860 92,119 93,324 92,204
Market Capitalization		 54,791 58,654 51,734 48,186 48,939 64,408 68,739 61,950 74,639 65,858 70,501
Book Value per Share		 $31.98 $34.17 $34.61 $34.59 $34.65 $35.52 $35.64 $36.16 $37.55 $38.53 $39.43
Tangible Book Value per Share		 $22.07 $21.02 $21.91 $22.11 $22.31 $23.59 $23.77 $24.47 $25.96 $27.03 $27.93
Total Capital		 105,272 122,277 152,374 131,101 118,552 122,530 125,828 126,162 132,560 137,575 140,948
Total Debt		 57,294 71,045 98,920 77,617 64,974 66,759 69,795 69,277 73,520 77,017 79,052
Total Long-Term Debt		 32,228 39,829 42,045 45,283 43,074 51,480 52,693 52,720 58,002 59,859 64,013
Net Debt		 15,642 17,503 31,692 6,975 620 5,567 -7,190 3,445 17,018 27,004 21,245
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)		 57,294 71,045 98,920 77,617 64,974 66,759 69,795 69,277 73,520 77,017 79,052
Total Depreciation and Amortization (D&A)		 128 175 257 255 256 0.00 236 234 0.00 215 217
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.16 $0.55 $1.04 $0.84 $0.91 $0.00 $0.78 $0.97 $0.00 $1.03 $1.11
Adjusted Weighted Average Basic Shares Outstanding		 1.49B 1.49B 1.53B 1.53B 1.55B 1.54B 1.56B 1.56B 1.56B 1.56B 1.56B
Adjusted Diluted Earnings per Share		 $1.16 $0.55 $1.04 $0.84 $0.91 $0.00 $0.78 $0.97 $0.00 $1.03 $1.11
Adjusted Weighted Average Diluted Shares Outstanding		 1.49B 1.49B 1.53B 1.53B 1.55B 1.54B 1.56B 1.56B 1.56B 1.56B 1.56B
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		 1.49B 1.53B 1.53B 1.53B 1.56B 1.56B 1.56B 1.56B 1.56B 1.56B 1.56B
Normalized Net Operating Profit after Tax (NOPAT)		 1,849 1,006 1,897 1,611 1,745 0.00 1,449 1,611 0.00 1,716 1,821
Normalized NOPAT Margin		 29.37% 15.88% 26.56% 22.57% 24.93% 0.00% 21.67% 23.56% 0.00% 24.77% 26.11%
Pre Tax Income Margin		 36.48% 17.38% 30.23% 24.52% 27.93% 0.00% 25.03% 30.07% 0.00% 31.16% 32.87%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.55 0.66 0.93 0.56 0.56 0.00 0.44 0.52 0.00 0.63 0.65
NOPAT to Interest Expense		 2.02 0.55 0.73 0.44 0.43 0.00 0.35 0.41 0.00 0.50 0.51
EBIT Less CapEx to Interest Expense		 2.55 0.66 0.93 0.56 0.56 0.00 0.44 0.52 0.00 0.63 0.65
NOPAT Less CapEx to Interest Expense		 2.02 0.55 0.73 0.44 0.43 0.00 0.35 0.41 0.00 0.50 0.51
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 46.20% 52.67% 52.22% 54.85% 58.97% 60.66% 65.94% 63.59% 54.48% 51.51% 50.08%
Augmented Payout Ratio		 47.31% 53.85% 53.21% 55.85% 60.03% 61.80% 67.26% 64.86% 57.21% 55.74% 55.69%

Key Financial Trends

U.S. Bancorp (NYSE: USB) has shown a generally positive financial trajectory over the past four years through Q2 2025, with steady growth in key areas including net income, revenue, and balance sheet strength. Below are some important insights and trends from the quarterly data:

  • Consistent Net Income Growth: Net income has increased from $930 million in Q4 2022 (continuing operations) to $1.815 billion in Q2 2025, reflecting robust profitability improvement over the period.
  • Rising Total Revenue: Total revenue has grown from approximately $6.3 billion in Q4 2022 to about $6.975 billion in Q2 2025, driven by higher net interest income and non-interest income streams.
  • Improved Net Interest Income: Net interest income, a core profitability measure for banks, remains strong and slightly up from $4.293 billion in Q4 2022 to $4.051 billion in Q2 2025, showing effective interest margin management despite fluctuating rates.
  • Operating Cash Flow Recovery: Net cash from operating activities went from a negative $285 million in Q1 2025 to a positive of approximately $2.031 billion by Q2 2025, indicating improved operational cash generation and efficiency.
  • Strong Deposit Growth: Deposits grew significantly from Q1 2025 to Q2 2025 with net change in deposits increasing by about $6.19 billion in Q2 2025 compared to a decline in Q1, reinforcing a strong deposit base.
  • Balance Sheet Expansion: Total assets increased from $663.5 billion in Q4 2023 to $686.37 billion in Q2 2025, indicating growth and capacity expansion.
  • Loan Book Stability: Net loans and leases remained relatively stable around $366 billion to $372 billion, with a slight increase in Q2 2025, supporting steady lending operations.
  • Return of Shareholder Capital: Payments of dividends and share repurchases continue, showing commitment to returning capital to shareholders, with dividends around $0.48-$0.50 per share and ongoing share repurchases.
  • Provision for Credit Losses Volatility: Loan loss provisions fluctuated, peaking at $1.192 billion in Q4 2022 and moderating to $501 million in Q2 2025, reflecting changes in credit risk assessment but not indicating a severe credit issue.
  • Non-Interest Expense Trends: Operating expenses have increased modestly over time, with salaries and benefits around $2.6 billion per quarter and marketing and occupancy expenses steady, requiring continued cost control focus.
  • Capital Intensity on Investments: Significant net cash outflows on investing activities in most recent quarters (e.g., -$1.37 billion in Q2 2025) may reflect heavy investments or portfolio adjustments that, if not managed well, could pressure liquidity.
  • Increased Debt Balances: Short-term and long-term debt levels have fluctuated, with total debt increasing to $79 billion+ by Q2 2025 versus around $72 billion in prior years, which could imply higher interest expenses or refinancing risk.
  • Accumulated Other Comprehensive Loss: Negative figures approaching $8-$11 billion over recent periods suggest some unrealized losses or valuation adjustments affecting equity beyond net income, potentially linked to market or hedging positions.

Summary: U.S. Bancorp's financial condition shows solid income and revenue growth, stable credit quality with controlled loan loss provisions, and a strong deposit base supporting lending activities. The company is actively managing capital through dividends and buybacks, while investing in its portfolio and operations. Investors should monitor the impacts of higher debt and investment outflows, but overall, the recent earnings and balance sheet trends are positive and indicate a healthy banking franchise poised for continued growth.

08/29/25 09:50 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About U.S. Bancorp's Financials

When does U.S. Bancorp's fiscal year end?

According to the most recent income statement we have on file, U.S. Bancorp's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has U.S. Bancorp's net income changed over the last 10 years?

U.S. Bancorp's net income were at $6.33 billion at the end of 2024, a 16.0% increase from 2023, and a 7.1% increase since 2014. See U.S. Bancorp's forecast for analyst expectations on what’s next for the company.

How has U.S. Bancorp's revenue changed over the last 10 years?

Over the last 10 years, U.S. Bancorp's total revenue changed from $19.94 billion in 2014 to $27.34 billion in 2024, a change of 37.1%.

How much debt does U.S. Bancorp have?

U.S. Bancorp's total liabilities were at $619.28 billion at the end of 2024, a 1.9% increase from 2023, and a 72.8% increase since 2014.

How much cash does U.S. Bancorp have?

In the past 10 years, U.S. Bancorp's cash and equivalents has ranged from $10.65 billion in 2014 to $62.58 billion in 2020, and is currently $56.50 billion as of their latest financial filing in 2024.

How has U.S. Bancorp's book value per share changed over the last 10 years?

Over the last 10 years, U.S. Bancorp's book value per share changed from 24.30 in 2014 to 37.55 in 2024, a change of 54.5%.


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