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.
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 |
|
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
Q1 2026 |
Q2 2026 |
| Net Income / (Loss) Attributable to Common Shareholders |
|
- |
1,319 |
1,603 |
1,714 |
- |
1,709 |
1,815 |
2,001 |
2,045 |
1,945 |
2,177 |
| Consolidated Net Income / (Loss) |
|
- |
1,326 |
1,611 |
1,722 |
- |
1,716 |
1,821 |
2,008 |
2,051 |
1,950 |
2,183 |
| Net Income / (Loss) Continuing Operations |
|
- |
1,326 |
1,611 |
1,722 |
- |
1,716 |
1,821 |
2,008 |
2,051 |
1,950 |
2,183 |
| Total Pre-Tax Income |
|
- |
1,673 |
2,056 |
2,072 |
- |
2,159 |
2,293 |
2,532 |
2,533 |
2,419 |
2,720 |
| Total Revenue |
|
- |
6,685 |
6,838 |
6,833 |
- |
6,928 |
6,975 |
7,300 |
7,337 |
7,260 |
7,686 |
| Net Interest Income / (Expense) |
|
- |
3,985 |
4,023 |
4,135 |
- |
4,092 |
4,051 |
4,222 |
4,284 |
4,263 |
4,361 |
| Total Interest Income |
|
- |
7,764 |
7,985 |
8,086 |
- |
7,516 |
7,604 |
7,927 |
7,923 |
7,838 |
7,598 |
| Loans and Leases Interest Income |
|
- |
5,749 |
5,802 |
5,907 |
- |
5,561 |
5,607 |
5,723 |
5,642 |
5,561 |
5,771 |
| Investment Securities Interest Income |
|
- |
1,175 |
1,294 |
1,316 |
- |
1,308 |
1,355 |
1,392 |
1,343 |
1,303 |
1,344 |
| Other Interest Income |
|
- |
840 |
889 |
863 |
- |
647 |
642 |
812 |
938 |
974 |
483 |
| Total Interest Expense |
|
- |
3,779 |
3,962 |
3,951 |
- |
3,424 |
3,553 |
3,705 |
3,639 |
3,575 |
3,237 |
| Deposits Interest Expense |
|
- |
2,884 |
3,028 |
3,004 |
- |
2,511 |
2,541 |
2,648 |
2,451 |
2,284 |
2,330 |
| Short-Term Borrowings Interest Expense |
|
- |
270 |
296 |
284 |
- |
249 |
291 |
328 |
505 |
645 |
249 |
| Long-Term Debt Interest Expense |
|
- |
625 |
638 |
663 |
- |
664 |
721 |
729 |
683 |
646 |
658 |
| Total Non-Interest Income |
|
- |
2,700 |
2,815 |
2,698 |
- |
2,836 |
2,924 |
3,078 |
3,053 |
2,997 |
3,325 |
| Trust Fees by Commissions |
|
- |
641 |
649 |
667 |
- |
680 |
703 |
730 |
756 |
745 |
785 |
| Other Service Charges |
|
- |
1,485 |
1,633 |
1,550 |
- |
1,464 |
1,542 |
1,726 |
1,678 |
1,502 |
1,637 |
| Net Realized & Unrealized Capital Gains on Investments |
|
- |
2.00 |
-36 |
-119 |
- |
0.00 |
-57 |
-7.00 |
3.00 |
-35 |
-49 |
| Other Non-Interest Income |
|
- |
572 |
569 |
600 |
- |
692 |
736 |
629 |
616 |
785 |
952 |
| Provision for Credit Losses |
|
- |
553 |
568 |
557 |
- |
537 |
501 |
571 |
577 |
576 |
538 |
| Total Non-Interest Expense |
|
- |
4,459 |
4,214 |
4,204 |
- |
4,232 |
4,181 |
4,197 |
4,227 |
4,265 |
4,428 |
| Salaries and Employee Benefits |
|
- |
2,691 |
2,619 |
2,637 |
- |
2,637 |
2,600 |
2,561 |
2,529 |
2,628 |
2,685 |
| Net Occupancy & Equipment Expense |
|
- |
803 |
825 |
841 |
- |
839 |
835 |
860 |
904 |
877 |
904 |
| Marketing Expense |
|
- |
136 |
158 |
165 |
- |
182 |
161 |
175 |
187 |
217 |
216 |
| Other Operating Expenses |
|
- |
528 |
470 |
419 |
- |
451 |
461 |
476 |
481 |
433 |
509 |
| Amortization Expense |
|
- |
146 |
142 |
142 |
- |
123 |
124 |
125 |
126 |
110 |
114 |
| Income Tax Expense |
|
- |
347 |
445 |
350 |
- |
443 |
472 |
524 |
482 |
469 |
537 |
| Net Income / (Loss) Attributable to Noncontrolling Interest |
|
- |
7.00 |
8.00 |
8.00 |
- |
7.00 |
6.00 |
7.00 |
6.00 |
5.00 |
6.00 |
| Basic Earnings per Share |
|
- |
$0.78 |
$0.97 |
$1.03 |
- |
$1.03 |
$1.11 |
$1.22 |
$1.26 |
$1.18 |
$1.35 |
| Weighted Average Basic Shares Outstanding |
|
1.54B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.55B |
1.55B |
| Diluted Earnings per Share |
|
- |
$0.78 |
$0.97 |
$1.03 |
- |
$1.03 |
$1.11 |
$1.22 |
$1.26 |
$1.18 |
$1.35 |
| Weighted Average Diluted Shares Outstanding |
|
1.54B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
| Weighted Average Basic & Diluted Shares Outstanding |
|
1.56B |
1.56B |
1.56B |
- |
1.56B |
1.56B |
1.56B |
1.55B |
1.55B |
1.55B |
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 |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Net Change in Cash & Equivalents |
|
493 |
4,558 |
3,800 |
1,948 |
952 |
40,175 |
-33,675 |
24,637 |
7,650 |
-4,690 |
-9,612 |
| Net Cash From Operating Activities |
|
8,782 |
5,336 |
6,472 |
10,564 |
4,889 |
3,716 |
9,870 |
21,119 |
8,393 |
11,350 |
7,970 |
| Net Cash From Continuing Operating Activities |
|
8,782 |
5,336 |
6,472 |
10,564 |
4,889 |
3,716 |
9,870 |
21,119 |
8,393 |
11,350 |
7,970 |
| Net Income / (Loss) Continuing Operations |
|
5,879 |
5,888 |
6,218 |
7,096 |
6,914 |
4,959 |
7,963 |
5,825 |
5,429 |
6,299 |
7,570 |
| Consolidated Net Income / (Loss) |
|
5,879 |
5,888 |
6,218 |
7,096 |
6,914 |
4,959 |
7,963 |
5,825 |
5,429 |
6,299 |
7,570 |
| Provision For Loan Losses |
|
1,132 |
1,324 |
1,390 |
- |
1,504 |
3,806 |
-1,173 |
1,977 |
2,275 |
2,238 |
2,186 |
| Depreciation Expense |
|
307 |
291 |
293 |
306 |
334 |
351 |
338 |
345 |
382 |
370 |
377 |
| Amortization Expense |
|
174 |
179 |
175 |
161 |
168 |
176 |
159 |
215 |
636 |
569 |
498 |
| Non-Cash Adjustments to Reconcile Net Income |
|
1,290 |
-2,346 |
-1,604 |
1,991 |
-4,031 |
-5,576 |
2,583 |
12,757 |
-329 |
1,874 |
-2,661 |
| Net Cash From Investing Activities |
|
-21,150 |
-17,958 |
-12,126 |
-8,977 |
-21,560 |
-15,440 |
-57,487 |
7,500 |
18,925 |
-24,534 |
-20,538 |
| Net Cash From Continuing Investing Activities |
|
-21,150 |
-17,958 |
-12,180 |
-8,977 |
-21,560 |
-15,440 |
-57,487 |
7,500 |
18,925 |
-24,534 |
-20,538 |
| Purchase of Investment Securities |
|
-47,525 |
-54,797 |
-31,016 |
-23,746 |
-45,615 |
-80,364 |
-103,935 |
-39,188 |
-11,894 |
-41,358 |
-30,331 |
| Sale and/or Maturity of Investments |
|
26,375 |
36,839 |
26,890 |
24,292 |
33,926 |
58,574 |
63,907 |
74,006 |
29,394 |
24,102 |
27,836 |
| Other Investing Activities, net |
|
- |
- |
-8,054 |
-9,523 |
-9,871 |
6,350 |
-17,459 |
-27,318 |
1,425 |
-7,278 |
-18,043 |
| Net Cash From Financing Activities |
|
12,861 |
17,180 |
9,454 |
361 |
17,623 |
51,899 |
13,942 |
-3,982 |
-19,998 |
8,821 |
2,250 |
| Net Cash From Continuing Financing Activities |
|
12,861 |
17,180 |
9,454 |
361 |
17,623 |
51,899 |
13,942 |
-3,982 |
-19,998 |
8,821 |
2,250 |
| Net Change in Deposits |
|
18,290 |
34,192 |
12,625 |
-1,740 |
16,441 |
67,854 |
26,313 |
-17,215 |
-12,567 |
6,251 |
3,330 |
| Issuance of Debt |
|
3,051 |
10,715 |
12,122 |
12,078 |
19,483 |
14,501 |
2,626 |
8,732 |
-925 |
12,256 |
10,360 |
| Issuance of Common Equity |
|
295 |
355 |
159 |
86 |
88 |
15 |
43 |
21 |
951 |
32 |
45 |
| Repayment of Debt |
|
-5,311 |
-23,409 |
-10,517 |
-5,440 |
-11,119 |
-26,433 |
-11,402 |
8,287 |
-4,084 |
-6,042 |
-7,408 |
| Repurchase of Common Equity |
|
-2,190 |
-2,556 |
-2,631 |
-2,822 |
-4,525 |
-1,672 |
-1,555 |
-69 |
-62 |
-173 |
-489 |
| Payment of Dividends |
|
-2,019 |
-2,077 |
-2,212 |
-2,366 |
-2,745 |
-2,852 |
-2,887 |
-3,075 |
-3,311 |
-3,448 |
-3,502 |
| Other Financing Activities, Net |
|
0.00 |
-40 |
- |
- |
- |
0.00 |
-167 |
0.00 |
0.00 |
-55 |
-86 |
| Effect of Exchange Rate Changes |
|
- |
- |
- |
- |
- |
- |
- |
- |
330 |
-327 |
706 |
| Cash Interest Paid |
|
1,434 |
1,591 |
2,086 |
3,056 |
4,404 |
2,199 |
1,061 |
2,717 |
12,282 |
15,382 |
14,388 |
| Cash Income Taxes Paid |
|
742 |
595 |
555 |
365 |
941 |
1,025 |
535 |
767 |
645 |
499 |
544 |
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 |
|
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
Q1 2026 |
Q2 2026 |
| Net Change in Cash & Equivalents |
|
- |
15,793 |
-11,153 |
7,730 |
- |
-6,489 |
7,794 |
8,830 |
-19,747 |
1,530 |
18,071 |
| Net Cash From Operating Activities |
|
- |
2,661 |
2,874 |
972 |
- |
-308 |
2,031 |
3,388 |
2,836 |
1,340 |
4,820 |
| Net Cash From Continuing Operating Activities |
|
- |
2,661 |
2,874 |
972 |
- |
-308 |
2,031 |
3,388 |
2,836 |
1,340 |
4,820 |
| Net Income / (Loss) Continuing Operations |
|
- |
1,319 |
1,603 |
1,714 |
- |
1,709 |
1,815 |
2,001 |
2,045 |
1,945 |
2,177 |
| Consolidated Net Income / (Loss) |
|
- |
1,319 |
1,603 |
1,714 |
- |
1,709 |
1,815 |
2,001 |
2,045 |
1,945 |
2,177 |
| Provision For Loan Losses |
|
- |
553 |
568 |
557 |
- |
537 |
501 |
571 |
577 |
576 |
538 |
| Depreciation Expense |
|
- |
90 |
92 |
89 |
- |
92 |
93 |
91 |
101 |
94 |
95 |
| Amortization Expense |
|
- |
146 |
142 |
142 |
- |
123 |
124 |
125 |
126 |
110 |
114 |
| Non-Cash Adjustments to Reconcile Net Income |
|
- |
553 |
469 |
-1,530 |
- |
-2,769 |
-502 |
600 |
-13 |
-1,385 |
1,896 |
| Net Cash From Investing Activities |
|
- |
-4,953 |
-8,328 |
1,622 |
- |
-2,548 |
-1,370 |
230 |
-16,850 |
-5,351 |
-6,377 |
| Net Cash From Continuing Investing Activities |
|
- |
-4,953 |
-8,328 |
1,622 |
- |
-2,548 |
-1,370 |
230 |
-16,850 |
-5,351 |
-6,377 |
| Purchase of Investment Securities |
|
- |
-5,472 |
-9,722 |
-10,409 |
- |
-3,603 |
-10,624 |
-2,838 |
-13,266 |
-9,764 |
-6,742 |
| Sale and/or Maturity of Investments |
|
- |
1,647 |
5,171 |
8,661 |
- |
4,504 |
12,973 |
5,576 |
4,783 |
7,297 |
16,790 |
| Other Investing Activities, net |
|
- |
-1,128 |
-3,777 |
3,370 |
- |
-3,449 |
-3,719 |
-2,508 |
-8,367 |
-2,884 |
-16,425 |
| Net Cash From Financing Activities |
|
- |
18,085 |
-5,699 |
5,136 |
- |
-3,896 |
7,133 |
5,212 |
-6,439 |
5,673 |
19,695 |
| Net Cash From Continuing Financing Activities |
|
- |
18,085 |
-5,699 |
5,136 |
- |
-3,896 |
7,133 |
5,212 |
-6,439 |
5,673 |
19,695 |
| Net Change in Deposits |
|
- |
15,751 |
-4,278 |
-2,654 |
- |
-5,998 |
6,191 |
7,425 |
-4,504 |
6,070 |
3,943 |
| Issuance of Debt |
|
- |
5,388 |
837 |
11,014 |
- |
5,230 |
3,618 |
1,374 |
138 |
3,986 |
23,348 |
| Issuance of Common Equity |
|
- |
13 |
1.00 |
8.00 |
- |
16 |
6.00 |
10 |
13 |
16 |
3.00 |
| Repayment of Debt |
|
- |
-2,172 |
-1,380 |
-2,364 |
- |
-2,101 |
-1,649 |
-2,622 |
-1,036 |
-3,225 |
-6,483 |
| Repurchase of Common Equity |
|
- |
-49 |
-1.00 |
-1.00 |
- |
-160 |
-106 |
-101 |
-122 |
-276 |
-201 |
| Payment of Dividends |
|
- |
-846 |
-871 |
-844 |
- |
-859 |
-880 |
-853 |
-910 |
-884 |
-904 |
| Other Financing Activities, Net |
|
- |
- |
- |
-23 |
- |
-24 |
- |
-21 |
-18 |
-14 |
-11 |
| Effect of Exchange Rate Changes |
|
- |
- |
- |
- |
- |
263 |
- |
- |
- |
-132 |
-67 |
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 |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Total Assets |
|
421,853 |
445,964 |
462,040 |
467,374 |
495,426 |
553,905 |
573,284 |
674,805 |
663,491 |
678,318 |
692,345 |
| Cash and Due from Banks |
|
11,147 |
15,705 |
19,505 |
21,453 |
22,405 |
62,580 |
28,905 |
53,542 |
61,192 |
56,502 |
46,890 |
| Trading Account Securities |
|
108,771 |
114,101 |
116,053 |
112,165 |
128,191 |
145,601 |
140,738 |
163,850 |
155,952 |
167,199 |
169,546 |
| Loans and Leases, Net of Allowance |
|
256,986 |
269,394 |
276,507 |
282,837 |
292,082 |
290,393 |
0.00 |
381,277 |
366,456 |
372,249 |
383,730 |
| Loans and Leases |
|
260,849 |
273,207 |
280,432 |
286,810 |
296,102 |
297,707 |
- |
388,213 |
373,835 |
379,832 |
391,335 |
| Allowance for Loan and Lease Losses |
|
3,863 |
3,813 |
3,925 |
3,973 |
4,020 |
7,314 |
- |
6,936 |
7,379 |
7,583 |
7,605 |
| Goodwill |
|
9,361 |
9,344 |
9,434 |
9,369 |
9,655 |
9,918 |
10,262 |
12,373 |
12,489 |
12,536 |
12,635 |
| Intangible Assets |
|
3,350 |
3,303 |
3,228 |
3,392 |
3,223 |
2,864 |
3,738 |
7,155 |
6,084 |
5,547 |
4,904 |
| Other Assets |
|
29,725 |
31,674 |
311,388 |
33,645 |
36,168 |
39,081 |
80,032 |
52,750 |
57,695 |
60,720 |
70,872 |
| Total Liabilities & Shareholders' Equity |
|
421,853 |
445,964 |
462,040 |
467,374 |
495,426 |
553,905 |
573,284 |
674,805 |
663,491 |
678,318 |
692,345 |
| Total Liabilities |
|
375,036 |
398,031 |
412,374 |
415,717 |
442,943 |
500,180 |
517,897 |
623,573 |
607,720 |
619,278 |
626,694 |
| Non-Interest Bearing Deposits |
|
83,766 |
86,097 |
87,557 |
81,811 |
75,590 |
118,089 |
134,901 |
137,743 |
89,989 |
84,158 |
84,116 |
| Interest Bearing Deposits |
|
216,634 |
248,493 |
259,658 |
263,664 |
286,326 |
311,681 |
321,182 |
387,233 |
422,323 |
434,151 |
438,100 |
| Short-Term Debt |
|
27,877 |
13,963 |
16,651 |
14,139 |
23,723 |
11,766 |
11,796 |
31,216 |
15,279 |
15,518 |
17,162 |
| Long-Term Debt |
|
32,078 |
33,323 |
32,259 |
41,340 |
40,167 |
41,297 |
32,125 |
39,829 |
51,480 |
58,002 |
60,764 |
| Other Long-Term Liabilities |
|
14,681 |
16,155 |
16,249 |
14,763 |
17,137 |
17,347 |
17,893 |
27,552 |
28,649 |
27,449 |
26,552 |
| Total Equity & Noncontrolling Interests |
|
46,817 |
47,933 |
49,666 |
51,657 |
52,483 |
53,725 |
55,387 |
51,232 |
55,771 |
59,040 |
65,651 |
| Total Preferred & Common Equity |
|
46,131 |
47,298 |
49,040 |
51,029 |
51,853 |
53,095 |
54,918 |
50,766 |
55,306 |
58,578 |
65,193 |
| Total Common Equity |
|
46,131 |
47,298 |
49,040 |
45,045 |
51,853 |
47,112 |
54,918 |
50,766 |
55,306 |
58,578 |
65,193 |
| Common Stock |
|
8,397 |
8,461 |
-9,117 |
8,490 |
8,496 |
8,532 |
8,560 |
8,733 |
8,694 |
8,736 |
8,749 |
| Retained Earnings |
|
46,377 |
50,151 |
54,142 |
59,065 |
63,186 |
64,188 |
69,201 |
71,901 |
74,026 |
76,863 |
80,906 |
| Treasury Stock |
|
-13,125 |
-15,280 |
- |
- |
- |
-25,930 |
-27,271 |
-25,269 |
-24,126 |
-24,065 |
-24,283 |
| Accumulated Other Comprehensive Income / (Loss) |
|
-1,019 |
-1,535 |
-1,404 |
-2,322 |
-1,373 |
322 |
-1,943 |
-11,407 |
-10,096 |
-9,764 |
-6,987 |
| Other Equity Adjustments |
|
5,501 |
5,501 |
5,419 |
-20,188 |
-18,456 |
- |
6,371 |
6,808 |
6,808 |
6,808 |
6,808 |
| Noncontrolling Interest |
|
686 |
635 |
626 |
628 |
630 |
630 |
469 |
466 |
465 |
462 |
458 |
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 |
|
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q1 2026 |
Q2 2026 |
| Total Assets |
|
668,039 |
663,491 |
683,606 |
680,058 |
686,469 |
678,318 |
676,489 |
686,370 |
695,357 |
700,998 |
725,918 |
| Cash and Due from Banks |
|
64,354 |
61,192 |
76,985 |
65,832 |
73,562 |
56,502 |
50,013 |
57,807 |
66,637 |
48,420 |
66,491 |
| Trading Account Securities |
|
69,543 |
155,952 |
157,454 |
163,867 |
164,940 |
167,199 |
166,528 |
170,744 |
168,486 |
171,834 |
166,208 |
| Loans and Leases, Net of Allowance |
|
0.00 |
366,456 |
367,074 |
368,584 |
366,604 |
372,249 |
374,235 |
372,706 |
374,960 |
392,150 |
402,655 |
| Loans and Leases |
|
- |
373,835 |
374,588 |
376,133 |
374,164 |
379,832 |
381,819 |
380,243 |
382,517 |
399,796 |
410,300 |
| Allowance for Loan and Lease Losses |
|
- |
7,379 |
7,514 |
7,549 |
7,560 |
7,583 |
7,584 |
7,537 |
7,557 |
7,646 |
7,645 |
| Goodwill |
|
12,472 |
12,489 |
12,479 |
12,476 |
12,573 |
12,536 |
12,555 |
12,637 |
12,634 |
12,625 |
13,234 |
| Intangible Assets |
|
6,435 |
6,084 |
6,031 |
5,757 |
5,488 |
5,547 |
5,381 |
5,285 |
5,152 |
4,799 |
4,999 |
| Other Assets |
|
143,603 |
57,695 |
60,046 |
59,972 |
59,717 |
60,720 |
64,195 |
63,566 |
63,793 |
67,351 |
68,484 |
| Total Liabilities & Shareholders' Equity |
|
668,039 |
663,491 |
683,606 |
680,058 |
686,469 |
678,318 |
676,489 |
686,370 |
695,357 |
700,998 |
725,918 |
| Total Liabilities |
|
614,461 |
607,720 |
627,573 |
623,173 |
627,148 |
619,278 |
615,931 |
624,474 |
631,559 |
634,751 |
658,023 |
| Non-Interest Bearing Deposits |
|
98,006 |
89,989 |
91,220 |
86,756 |
86,838 |
84,158 |
84,086 |
86,972 |
91,550 |
85,300 |
85,791 |
| Interest Bearing Deposits |
|
420,352 |
422,323 |
436,843 |
437,029 |
434,293 |
434,151 |
428,439 |
431,745 |
434,599 |
442,878 |
446,275 |
| Short-Term Debt |
|
21,900 |
15,279 |
17,102 |
16,557 |
23,708 |
15,518 |
17,158 |
15,039 |
15,449 |
17,859 |
37,337 |
| Long-Term Debt |
|
43,074 |
51,480 |
52,693 |
52,720 |
54,839 |
58,002 |
59,859 |
64,013 |
62,535 |
61,361 |
58,671 |
| Other Long-Term Liabilities |
|
31,129 |
28,649 |
29,715 |
30,111 |
27,470 |
27,449 |
26,389 |
26,705 |
27,426 |
27,353 |
29,949 |
| Total Equity & Noncontrolling Interests |
|
53,578 |
55,771 |
56,033 |
56,885 |
59,321 |
59,040 |
60,558 |
61,896 |
63,798 |
66,247 |
67,895 |
| Total Preferred & Common Equity |
|
53,113 |
55,306 |
55,568 |
56,420 |
58,859 |
58,578 |
60,096 |
61,438 |
63,340 |
65,786 |
67,432 |
| Total Common Equity |
|
53,113 |
55,306 |
55,568 |
56,420 |
58,859 |
58,578 |
60,096 |
61,438 |
63,340 |
65,786 |
67,432 |
| Common Stock |
|
8,705 |
8,694 |
8,663 |
8,709 |
8,750 |
8,736 |
8,699 |
8,727 |
8,766 |
8,644 |
8,794 |
| Retained Earnings |
|
74,023 |
74,026 |
74,473 |
75,231 |
76,057 |
76,863 |
77,691 |
78,652 |
79,742 |
81,944 |
83,241 |
| Treasury Stock |
|
-24,168 |
-24,126 |
-24,023 |
-24,020 |
-24,010 |
-24,065 |
-24,060 |
-24,140 |
-24,228 |
-24,387 |
-24,300 |
| Accumulated Other Comprehensive Income / (Loss) |
|
-12,255 |
-10,096 |
-10,353 |
-10,308 |
-8,746 |
-9,764 |
-9,042 |
-8,609 |
-7,748 |
-7,223 |
-7,111 |
| 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 |
|
465 |
465 |
465 |
465 |
462 |
462 |
462 |
458 |
458 |
461 |
463 |
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 |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$3.18 |
$3.25 |
$3.53 |
$4.15 |
$4.16 |
$3.06 |
$5.11 |
$3.69 |
$3.27 |
$3.79 |
$4.62 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
1.76B |
1.72B |
1.68B |
1.63B |
1.58B |
1.51B |
1.49B |
1.49B |
1.54B |
1.56B |
1.56B |
| Adjusted Diluted Earnings per Share |
|
$3.16 |
$3.24 |
$3.51 |
$4.14 |
$4.16 |
$3.06 |
$5.10 |
$3.69 |
$3.27 |
$3.79 |
$4.62 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
1.77B |
1.72B |
1.68B |
1.64B |
1.58B |
1.51B |
1.49B |
1.49B |
1.54B |
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 |
|
1.74B |
1.69B |
1.65B |
1.60B |
1.52B |
1.50B |
1.48B |
1.53B |
1.56B |
1.56B |
1.55B |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
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 |
|
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
Q1 2026 |
Q2 2026 |
| DEI Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
1,553,695,799.00 |
1,552,299,745.00 |
| DEI Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
1,553,695,799.00 |
1,552,299,745.00 |
| DEI Earnings Per Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
1.26 |
1.41 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
0.00% |
-6.39% |
-4.24% |
0.00% |
0.00% |
3.64% |
2.00% |
6.83% |
- |
4.79% |
10.19% |
| EBITDA Growth |
|
-100.00% |
-20.99% |
14.16% |
4.16% |
0.00% |
24.36% |
9.61% |
19.32% |
- |
10.49% |
16.69% |
| EBIT Growth |
|
-100.00% |
-22.51% |
17.42% |
5.98% |
0.00% |
29.05% |
11.53% |
22.20% |
- |
12.04% |
18.62% |
| NOPAT Growth |
|
-100.00% |
-22.18% |
17.68% |
12.99% |
0.00% |
29.41% |
13.04% |
16.61% |
- |
13.64% |
19.88% |
| Net Income Growth |
|
0.00% |
-22.18% |
17.68% |
0.00% |
0.00% |
29.41% |
13.04% |
16.61% |
- |
13.64% |
19.88% |
| EPS Growth |
|
0.00% |
-25.00% |
15.48% |
0.00% |
0.00% |
32.05% |
14.43% |
18.45% |
- |
14.56% |
21.62% |
| Operating Cash Flow Growth |
|
0.00% |
216.03% |
-13.33% |
-74.90% |
0.00% |
-110.71% |
-29.33% |
248.56% |
- |
535.06% |
151.96% |
| Free Cash Flow Firm Growth |
|
98.85% |
161.90% |
124.91% |
-49.66% |
-3,864.43% |
-135.99% |
-297.94% |
89.17% |
- |
40.76% |
-60.22% |
| Invested Capital Growth |
|
0.21% |
-17.42% |
-3.77% |
16.29% |
8.19% |
9.34% |
11.72% |
2.84% |
- |
5.74% |
16.29% |
| Revenue Q/Q Growth |
|
0.00% |
-0.68% |
2.29% |
-0.07% |
0.00% |
0.00% |
0.68% |
4.66% |
- |
-1.05% |
5.87% |
| EBITDA Q/Q Growth |
|
-100.00% |
52.72% |
19.96% |
0.57% |
0.00% |
0.00% |
5.73% |
9.48% |
- |
-4.96% |
11.67% |
| EBIT Q/Q Growth |
|
-100.00% |
67.30% |
22.89% |
0.78% |
0.00% |
0.00% |
6.21% |
10.42% |
- |
-4.50% |
12.44% |
| NOPAT Q/Q Growth |
|
-100.00% |
54.01% |
21.49% |
6.89% |
0.00% |
0.00% |
6.12% |
10.27% |
- |
-4.92% |
11.95% |
| Net Income Q/Q Growth |
|
0.00% |
54.01% |
21.49% |
6.89% |
0.00% |
0.00% |
6.12% |
10.27% |
- |
-4.92% |
11.95% |
| EPS Q/Q Growth |
|
0.00% |
62.50% |
24.36% |
6.19% |
0.00% |
0.00% |
7.77% |
9.91% |
- |
-6.35% |
14.41% |
| Operating Cash Flow Q/Q Growth |
|
0.00% |
539.66% |
8.00% |
-66.18% |
0.00% |
0.00% |
812.63% |
66.81% |
- |
-52.75% |
259.70% |
| Free Cash Flow Firm Q/Q Growth |
|
97.85% |
4,484.21% |
-76.50% |
-368.61% |
0.00% |
-0.01% |
-29.25% |
85.30% |
- |
33.73% |
-249.58% |
| Invested Capital Q/Q Growth |
|
3.36% |
2.69% |
0.27% |
9.28% |
0.00% |
3.78% |
2.45% |
0.59% |
- |
1.32% |
12.67% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
0.00% |
28.56% |
33.49% |
33.70% |
0.00% |
34.27% |
35.99% |
37.64% |
- |
36.13% |
38.11% |
| EBIT Margin |
|
0.00% |
25.03% |
30.07% |
30.32% |
0.00% |
31.16% |
32.87% |
34.68% |
- |
33.32% |
35.39% |
| Profit (Net Income) Margin |
|
0.00% |
19.84% |
23.56% |
25.20% |
0.00% |
24.77% |
26.11% |
27.51% |
- |
26.86% |
28.40% |
| Tax Burden Percent |
|
0.00% |
79.26% |
78.36% |
83.11% |
0.00% |
79.48% |
79.42% |
79.30% |
- |
80.61% |
80.26% |
| Interest Burden Percent |
|
0.00% |
100.00% |
100.00% |
100.00% |
0.00% |
100.00% |
100.00% |
100.00% |
- |
100.00% |
100.00% |
| Effective Tax Rate |
|
0.00% |
20.74% |
21.64% |
16.89% |
0.00% |
20.52% |
20.58% |
20.70% |
- |
19.39% |
19.74% |
| Return on Invested Capital (ROIC) |
|
0.00% |
3.93% |
4.99% |
0.00% |
0.00% |
5.19% |
5.42% |
5.54% |
- |
5.48% |
5.51% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
3.93% |
4.99% |
0.00% |
0.00% |
5.19% |
5.42% |
5.54% |
- |
5.48% |
5.51% |
| Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
6.06% |
6.64% |
0.00% |
0.00% |
6.53% |
6.77% |
7.05% |
- |
6.75% |
7.44% |
| Return on Equity (ROE) |
|
0.00% |
9.98% |
11.64% |
0.00% |
0.00% |
11.72% |
12.18% |
12.59% |
- |
12.23% |
12.95% |
| Cash Return on Invested Capital (CROIC) |
|
4.25% |
22.74% |
7.98% |
-15.07% |
-2.90% |
-3.82% |
-5.88% |
2.36% |
- |
-0.04% |
-9.69% |
| Operating Return on Assets (OROA) |
|
0.00% |
1.01% |
1.20% |
0.00% |
0.00% |
1.26% |
1.33% |
1.41% |
- |
1.40% |
1.48% |
| Return on Assets (ROA) |
|
0.00% |
0.80% |
0.94% |
0.00% |
0.00% |
1.00% |
1.06% |
1.12% |
- |
1.13% |
1.19% |
| Return on Common Equity (ROCE) |
|
0.00% |
9.90% |
11.54% |
0.00% |
0.00% |
11.62% |
12.09% |
12.50% |
- |
12.14% |
12.86% |
| Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
9.14% |
9.43% |
0.00% |
0.00% |
11.18% |
11.28% |
11.39% |
- |
11.90% |
12.15% |
| Net Operating Profit after Tax (NOPAT) |
|
0.00 |
1,326 |
1,611 |
1,722 |
0.00 |
1,716 |
1,821 |
2,008 |
- |
1,950 |
2,183 |
| NOPAT Margin |
|
0.00% |
19.84% |
23.56% |
25.20% |
0.00% |
24.77% |
26.11% |
27.51% |
- |
26.86% |
28.40% |
| Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
- |
0.00% |
0.00% |
| SG&A Expenses to Revenue |
|
0.00% |
54.30% |
52.68% |
53.31% |
0.00% |
52.80% |
51.56% |
49.26% |
- |
51.27% |
49.51% |
| Operating Expenses to Revenue |
|
0.00% |
66.70% |
61.63% |
61.53% |
0.00% |
61.09% |
59.94% |
57.49% |
- |
58.75% |
57.61% |
| Earnings before Interest and Taxes (EBIT) |
|
0.00 |
1,673 |
2,056 |
2,072 |
0.00 |
2,159 |
2,293 |
2,532 |
- |
2,419 |
2,720 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
0.00 |
1,909 |
2,290 |
2,303 |
0.00 |
2,374 |
2,510 |
2,748 |
- |
2,623 |
2,929 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
1.16 |
1.24 |
1.10 |
1.16 |
1.27 |
1.10 |
1.15 |
1.19 |
- |
1.23 |
1.39 |
| Price to Tangible Book Value (P/TBV) |
|
1.75 |
1.85 |
1.62 |
1.67 |
1.84 |
1.56 |
1.62 |
1.65 |
- |
1.67 |
1.91 |
| Price to Revenue (P/Rev) |
|
2.30 |
2.49 |
2.27 |
0.00 |
2.73 |
2.39 |
2.54 |
2.67 |
- |
2.80 |
3.17 |
| Price to Earnings (P/E) |
|
11.86 |
13.61 |
11.71 |
0.00 |
11.85 |
9.85 |
10.22 |
10.46 |
- |
10.35 |
11.48 |
| Dividend Yield |
|
4.67% |
4.39% |
4.91% |
4.50% |
4.14% |
4.71% |
4.42% |
4.18% |
- |
3.96% |
3.44% |
| Earnings Yield |
|
8.43% |
7.35% |
8.54% |
0.00% |
8.44% |
10.16% |
9.79% |
9.56% |
- |
9.66% |
8.71% |
| Enterprise Value to Invested Capital (EV/IC) |
|
0.57 |
0.49 |
0.52 |
0.53 |
0.69 |
0.68 |
0.65 |
0.61 |
- |
0.77 |
0.76 |
| Enterprise Value to Revenue (EV/Rev) |
|
2.51 |
2.25 |
2.42 |
0.00 |
3.37 |
3.38 |
3.33 |
3.09 |
- |
3.88 |
4.18 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
8.94 |
8.41 |
8.60 |
0.00 |
10.41 |
10.02 |
9.67 |
8.72 |
- |
10.53 |
11.19 |
| Enterprise Value to EBIT (EV/EBIT) |
|
10.26 |
9.72 |
9.85 |
0.00 |
11.65 |
11.12 |
10.68 |
9.57 |
- |
11.46 |
12.13 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
12.91 |
12.21 |
12.38 |
0.00 |
14.56 |
13.89 |
13.31 |
12.06 |
- |
14.31 |
15.10 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
8.34 |
6.04 |
6.70 |
0.00 |
8.17 |
11.21 |
12.32 |
8.79 |
- |
11.65 |
9.88 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
13.53 |
1.96 |
6.42 |
0.00 |
0.00 |
0.00 |
0.00 |
26.36 |
- |
0.00 |
0.00 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
1.20 |
1.25 |
1.22 |
1.32 |
1.25 |
1.27 |
1.28 |
1.22 |
- |
1.20 |
1.41 |
| Long-Term Debt to Equity |
|
0.92 |
0.94 |
0.93 |
0.92 |
0.98 |
0.99 |
1.03 |
0.98 |
- |
0.93 |
0.86 |
| Financial Leverage |
|
1.29 |
1.54 |
1.33 |
1.27 |
1.22 |
1.26 |
1.25 |
1.27 |
- |
1.23 |
1.35 |
| Leverage Ratio |
|
12.51 |
12.48 |
12.33 |
12.00 |
11.69 |
11.67 |
11.50 |
11.22 |
- |
10.86 |
10.88 |
| Compound Leverage Factor |
|
0.00 |
12.48 |
12.33 |
12.00 |
0.00 |
11.67 |
11.50 |
11.22 |
- |
10.86 |
10.88 |
| Debt to Total Capital |
|
54.48% |
55.47% |
54.91% |
56.97% |
55.46% |
55.98% |
56.09% |
55.00% |
- |
54.46% |
58.58% |
| Short-Term Debt to Total Capital |
|
12.47% |
13.59% |
13.12% |
17.20% |
11.71% |
12.47% |
10.67% |
10.90% |
- |
12.28% |
22.78% |
| Long-Term Debt to Total Capital |
|
42.01% |
41.88% |
41.79% |
39.78% |
43.76% |
43.51% |
45.42% |
44.11% |
- |
42.18% |
35.80% |
| 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% |
| Noncontrolling Interests to Total Capital |
|
0.38% |
0.37% |
0.37% |
0.34% |
0.35% |
0.34% |
0.32% |
0.32% |
- |
0.32% |
0.28% |
| Common Equity to Total Capital |
|
45.14% |
44.16% |
44.72% |
42.69% |
44.19% |
43.68% |
43.59% |
44.67% |
- |
45.22% |
41.14% |
| Debt to EBITDA |
|
8.47 |
9.46 |
9.04 |
0.00 |
8.31 |
8.27 |
8.29 |
7.82 |
- |
7.44 |
8.68 |
| Net Debt to EBITDA |
|
0.71 |
-0.97 |
0.45 |
0.00 |
1.92 |
2.90 |
2.23 |
1.14 |
- |
2.89 |
2.67 |
| Long-Term Debt to EBITDA |
|
6.53 |
7.14 |
6.88 |
0.00 |
6.56 |
6.43 |
6.71 |
6.27 |
- |
5.77 |
5.30 |
| Debt to NOPAT |
|
12.23 |
13.74 |
13.02 |
0.00 |
11.62 |
11.46 |
11.41 |
10.81 |
- |
10.12 |
11.72 |
| Net Debt to NOPAT |
|
1.02 |
-1.42 |
0.65 |
0.00 |
2.69 |
4.02 |
3.07 |
1.57 |
- |
3.93 |
3.60 |
| Long-Term Debt to NOPAT |
|
9.43 |
10.37 |
9.91 |
0.00 |
9.16 |
8.91 |
9.24 |
8.67 |
- |
7.84 |
7.16 |
| Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.85% |
0.84% |
0.82% |
0.00% |
0.80% |
0.78% |
0.75% |
- |
0.73% |
0.71% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
-253 |
27,872 |
6,550 |
-17,594 |
-10,030 |
-10,031 |
-12,965 |
-1,906 |
- |
-5,942 |
-20,772 |
| 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% |
| Free Cash Flow to Firm to Interest Expense |
|
0.00 |
7.38 |
1.65 |
-4.45 |
0.00 |
-2.93 |
-3.65 |
-0.51 |
- |
-1.66 |
-6.42 |
| Operating Cash Flow to Interest Expense |
|
0.00 |
0.70 |
0.73 |
0.25 |
0.00 |
-0.08 |
0.57 |
0.91 |
- |
0.37 |
1.49 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.70 |
0.73 |
0.25 |
0.00 |
-0.08 |
0.57 |
0.91 |
- |
0.37 |
1.49 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.04 |
0.04 |
0.04 |
0.00 |
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 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
122,530 |
125,828 |
126,162 |
137,868 |
132,560 |
137,575 |
140,948 |
141,782 |
- |
145,467 |
163,903 |
| Invested Capital Turnover |
|
0.23 |
0.20 |
0.21 |
0.00 |
0.21 |
0.21 |
0.21 |
0.20 |
- |
0.20 |
0.19 |
| Increase / (Decrease) in Invested Capital |
|
253 |
-26,546 |
-4,939 |
19,316 |
10,030 |
11,747 |
14,786 |
3,914 |
- |
7,892 |
22,955 |
| Enterprise Value (EV) |
|
70,440 |
62,014 |
65,860 |
73,739 |
92,119 |
93,324 |
92,204 |
87,016 |
- |
112,069 |
123,739 |
| Market Capitalization |
|
64,408 |
68,739 |
61,950 |
68,292 |
74,639 |
65,858 |
70,501 |
75,211 |
- |
80,808 |
93,759 |
| Book Value per Share |
|
$35.52 |
$35.64 |
$36.16 |
$37.72 |
$37.55 |
$38.53 |
$39.43 |
$40.70 |
- |
$42.34 |
$43.44 |
| Tangible Book Value per Share |
|
$23.59 |
$23.77 |
$24.47 |
$26.14 |
$25.96 |
$27.03 |
$27.93 |
$29.27 |
- |
$31.13 |
$31.69 |
| Total Capital |
|
122,530 |
125,828 |
126,162 |
137,868 |
132,560 |
137,575 |
140,948 |
141,782 |
- |
145,467 |
163,903 |
| Total Debt |
|
66,759 |
69,795 |
69,277 |
78,547 |
73,520 |
77,017 |
79,052 |
77,984 |
- |
79,220 |
96,008 |
| Total Long-Term Debt |
|
51,480 |
52,693 |
52,720 |
54,839 |
58,002 |
59,859 |
64,013 |
62,535 |
- |
61,361 |
58,671 |
| Net Debt |
|
5,567 |
-7,190 |
3,445 |
4,985 |
17,018 |
27,004 |
21,245 |
11,347 |
- |
30,800 |
29,517 |
| Capital Expenditures (CapEx) |
|
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 |
| Net Nonoperating Obligations (NNO) |
|
66,759 |
69,795 |
69,277 |
78,547 |
73,520 |
77,017 |
79,052 |
77,984 |
- |
79,220 |
96,008 |
| Total Depreciation and Amortization (D&A) |
|
0.00 |
236 |
234 |
231 |
0.00 |
215 |
217 |
216 |
- |
204 |
209 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.00 |
$0.78 |
$0.97 |
$0.00 |
$0.00 |
$1.03 |
$1.11 |
$1.22 |
$1.26 |
$1.18 |
$1.35 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
1.54B |
1.56B |
1.56B |
0.00 |
1.56B |
1.56B |
1.56B |
1.56B |
1.56B |
1.55B |
1.55B |
| Adjusted Diluted Earnings per Share |
|
$0.00 |
$0.78 |
$0.97 |
$0.00 |
$0.00 |
$1.03 |
$1.11 |
$1.22 |
$1.26 |
$1.18 |
$1.35 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
1.54B |
1.56B |
1.56B |
0.00 |
1.56B |
1.56B |
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 |
|
1.56B |
1.56B |
1.56B |
0.00 |
1.56B |
1.56B |
1.56B |
1.55B |
1.55B |
1.55B |
1.56B |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
0.00 |
1,449 |
1,611 |
1,722 |
0.00 |
1,716 |
1,821 |
2,008 |
- |
1,950 |
2,183 |
| Normalized NOPAT Margin |
|
0.00% |
21.67% |
23.56% |
25.20% |
0.00% |
24.77% |
26.11% |
27.51% |
- |
26.86% |
28.40% |
| Pre Tax Income Margin |
|
0.00% |
25.03% |
30.07% |
30.32% |
0.00% |
31.16% |
32.87% |
34.68% |
- |
33.32% |
35.39% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
0.00 |
0.44 |
0.52 |
0.52 |
0.00 |
0.63 |
0.65 |
0.68 |
- |
0.68 |
0.84 |
| NOPAT to Interest Expense |
|
0.00 |
0.35 |
0.41 |
0.44 |
0.00 |
0.50 |
0.51 |
0.54 |
- |
0.55 |
0.67 |
| EBIT Less CapEx to Interest Expense |
|
0.00 |
0.44 |
0.52 |
0.52 |
0.00 |
0.63 |
0.65 |
0.68 |
- |
0.68 |
0.84 |
| NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.35 |
0.41 |
0.44 |
0.00 |
0.50 |
0.51 |
0.54 |
- |
0.55 |
0.67 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
60.66% |
65.94% |
63.59% |
0.00% |
54.48% |
51.51% |
50.08% |
48.22% |
- |
45.04% |
43.35% |
| Augmented Payout Ratio |
|
61.80% |
67.26% |
64.86% |
0.00% |
57.21% |
55.74% |
55.69% |
55.00% |
- |
52.77% |
51.89% |
Key Financial Trends
U.S. Bancorp’s latest statements show a business that has strengthened materially since 2023, with steady loan growth, improving fee income and rising earnings. The second quarter of 2026 was particularly strong: total revenue increased to $7.69 billion from $6.98 billion in the year-earlier quarter, while net income attributable to common shareholders rose 20% to $2.18 billion. The data set does not include complete Q4 2024 or Q4 2023 income and cash-flow statements, so some year-over-year comparisons are limited.
- Earnings momentum remains strong. Q2 2026 net income attributable to common shareholders reached $2.18 billion, up from $1.82 billion in Q2 2025 and $1.60 billion in Q2 2024. Diluted EPS increased to $1.35 from $1.11 a year earlier, continuing the recovery from $0.78 in Q1 2024.
- Revenue growth is broad-based. Total revenue rose 10.2% year over year in Q2 2026. Net interest income increased 7.7% to $4.36 billion, while non-interest income climbed 13.7% to $3.33 billion. Trust fees and other service charges both improved, reducing reliance on lending spreads alone.
- The loan book is expanding. Gross loans and leases increased to $410.3 billion in Q2 2026 from $380.2 billion in Q2 2025 and $373.8 billion in Q3 2023. Net loans grew approximately 8% year over year, supporting future interest income if credit quality remains manageable.
- Deposits are growing again. Total deposits reached approximately $532.1 billion in Q2 2026, up from $518.7 billion a year earlier. Although the growth rate is slower than loan growth, the improvement provides a more stable funding base for expansion.
- Operating leverage improved in the latest quarter. Q2 2026 non-interest expense increased 5.9% year over year, slower than the 10.2% increase in revenue. As a result, earnings grew faster than revenue. The provision for credit losses also declined sequentially to $538 million from $576 million in Q1 2026.
- Capital and common equity have increased. Total common equity rose to $67.4 billion in Q2 2026 from $61.4 billion in Q2 2025 and $55.3 billion at year-end 2023. Common equity represented roughly 9.3% of total assets in Q2 2026, modestly above the approximately 9.0% level a year earlier.
- Cash generation improved sharply in Q2 2026. Operating cash flow increased to $4.82 billion from $1.34 billion in Q1 2026, and cash and due from banks rose to $66.5 billion from $48.4 billion. The company also continued returning capital through dividends and share repurchases.
- Share-count reduction has not been the primary earnings driver. Diluted weighted-average shares were approximately 1.56 billion in Q1 2024 and 1.56 billion in Q2 2026, while Q2 2026 repurchases totaled $201 million. The improvement in EPS therefore appears to be driven mainly by higher net income rather than aggressive buybacks.
- Credit costs remain elevated. The provision for credit losses was $538 million in Q2 2026 and has generally remained near $500 million to $600 million per quarter since 2024. The allowance for loan losses was $7.65 billion against $410.3 billion of gross loans, meaning allowance coverage declined to about 1.9% from roughly 2.0% a year earlier.
- Recent cash growth was heavily supported by financing. Q2 2026 financing cash flow was $19.7 billion, including $23.3 billion of debt issuance, while investing cash flow was negative $6.4 billion. The resulting $18.1 billion increase in cash improves liquidity, but the reliance on debt issuance could increase funding costs and balance-sheet risk if market conditions deteriorate.
Overall, the statements point to a positive operating trend for USB: earnings, fee income, loans, deposits and equity are all higher than they were in 2023-2025. Investors should continue monitoring whether loan growth outpaces deposit growth, whether provisions remain contained and whether increased debt funding pressures net interest margins. The balance sheet remains highly leveraged, as is typical for a large bank, with liabilities representing approximately 90.6% of total assets at June 30, 2026.
09/09/26 12:20 PM ETAI Generated. May Contain Errors.