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The PNC Financial Services Group, Inc

PNC Financial Banks Regional

The PNC Financial Services Group, Inc’s revenue for fiscal 2025 (year ended December 2025) was $34.0 billion, down 1.29% from fiscal 2024.

Revenue
+6.44%
EPS
+14.2%
Free cash flow
+15.4%
Total debt
+36.8%

Quarter to September 2026, against a year earlier

227.50 5.95 −2.55%
Market cap
$90.0B
P/E
12.1×
Fwd P/E
12.0×
Dividend yield
3.25%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Bought, $m 0.00
Sold, $m 27.04
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — 4 — — 1 3 1 1 — — —
Insider Ownership 1.35%

Capital & Financial Ratios $m

Size
Market Cap 89,970.00
Revenue ttm 36,190.00
Net income ttm 7,957.00
Free cash flow ttm 7,897.00
Net debt Q 49,332.00
Valuation
P/E 12.10
Forward P/E 12.00
Price / sales 2.52
Forward P/S Powerpack
Price / FCF 11.55
Price / book 1.46
Financial health
Current ratio Q 0.84
Debt / equity Q 1.28
Interest coverage Q —
Growth
Revenue growth Q +6.44% (above 0%: growing)
Operating income growth Q +14.65% (above 0%: growing)
EPS, this year +14.39%
EPS, next year A +12.84%
Revenue, next year A −45.37% (below 0%: weak)
EPS, past 5 yrs −0.44% (below 0%: weak)
EPS, next 5 yrs A +12.46%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 41.33%
10-year low 10-year high
P/S against its own 10 years 34.47%
10-year low 10-year high
P/B against its own 10 years 82.14%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.25%
Annual rate
7.40
Payout ratio
39.4%
Growth, 2017–25
+12.3%/yr
  1. 2.60 ’17
  2. 3.40 ’18 +31
  3. 4.20 ’19 +24
  4. 4.60 ’20 +10
  5. 4.80 ’21 +4
  6. 5.75 ’22 +20
  7. 6.10 ’23 +6
  8. 6.30 ’24 +3
  9. 6.60 ’25 +5
  10. 5.21 ’26e −21
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 50,725 46,251 39,713 30,425
Receivables — — — —
Inventory — — — —
Other — — — —
368,176 359,082 368,723 407,434
2023 2024 2025 Q'26
Payables 421,418 426,738 440,866 466,362
ST’ Debt — — — —
Other — — — —
437,039 443,177 455,017 484,799

Compound Annual Growth %

10y 5y 3y
Sales 7.65% 13.23% 13.03%
Cash Flow (2.29%) (1.21%) (21.56%)
Earnings 5.46% 19.35% 4.83%
Book Value 2.81% 2.33% 9.80%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 4.97 Actual 5.09

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 4.23 4.88 Beat by 0.65
Q1 FY26 4.12 4.32 Beat by 0.20
Q2 FY26 4.51 4.85 Beat by 0.34
Q3 FY26 4.97 5.09 Beat by 0.12
Q4 FY26 5.09 — Reports 15 January 2027

EPS $

Mar Jun Sep Dec Year
’26 4.13 4.81 4.97 — —
’25 3.51 3.85 4.35 4.88 16.59
’24 3.10 3.39 3.49 3.77 13.74
’23 3.98 3.36 3.60 1.85 12.79
’22 3.23 3.39 3.78 3.47 13.85
’21 4.10 2.43 3.30 2.86 12.70
’20 1.95 8.40 3.39 3.26 16.96
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 8,648 9,462 9,360 — —
’25 8,106 8,376 8,794 8,720 33,996
’24 8,381 8,677 8,844 8,538 34,440
’23 7,677 7,727 8,018 8,460 31,882
’22 4,802 5,346 6,206 7,188 23,542
’21 4,355 4,787 5,316 5,240 19,698
’20 5,025 4,404 4,473 4,360 18,262
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,928 2,147 3,065 — —
’25 (509) 1,480 2,656 757 4,384
’24 1,758 1,035 3,287 1,800 7,880
’23 1,876 3,256 115 4,864 10,111
’22 (989) 2,632 3,394 4,046 9,083
’21 780 1,415 1,525 3,494 7,214
’20 (696) 3,027 393 1,935 4,659
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,928 2,147 3,065 — —
’25 (509) 1,480 2,656 757 4,384
’24 1,758 1,035 3,287 1,800 7,880
’23 1,876 3,256 115 4,864 10,111
’22 (989) 2,632 3,394 4,046 9,083
’21 780 1,415 1,525 3,494 7,214
’20 (696) 3,027 393 1,935 4,659
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 11.8% a year for ten years. It grew 12.8% a year over the last ten.

Implied
11.8%
10 years, reported
12.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 16,423 18,035 19,051 20,636 18,262 19,698 23,542 31,882 34,440 33,996 36,190 +8.4% 18,572 19,627 20,504 (15.5%)
Gross margin, % 92.32 90.54 84.98 81.60 92.55 97.53 89.71 67.40 62.59 67.95 70.94 (24.4) pt
EBT 5,253 5,490 5,486 5,492 3,429 6,988 7,473 6,736 7,242 8,486 9,724 +5.5%
EBT margin, % 31.99 30.44 28.80 26.61 18.78 35.48 31.74 21.13 21.03 24.96 26.87 (7.0) pt
Net income 3,985 5,388 5,346 5,418 7,558 5,725 6,113 5,647 5,953 6,997 7,957 +6.5%
Per share, $
Per share, $ Revenue 33.24 37.49 40.79 46.17 42.77 46.24 57.14 79.51 86.32 85.85 90.25 +11.1%
Earnings 7.42 10.49 10.79 11.43 16.99 12.71 13.86 12.80 13.76 16.60 18.80 +9.4%
Cash flow 7.09 11.60 16.79 16.47 10.91 16.93 22.05 25.21 19.75 11.07 19.69 +5.1%
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow 7.09 11.60 16.79 16.47 10.91 16.93 22.05 25.21 19.75 11.07 19.69 +5.1%
Book value 94.85 98.93 102.29 110.39 126.56 130.81 111.19 127.53 136.51 153.12 155.64 +5.5%
Shares, m 494 481 467 447 427 426 412 401 399 396 401 (2.4%)
Valuation, ×
Valuation, × P/E 15.90 13.75 10.83 13.95 8.75 15.76 11.50 12.24 14.02 12.56 12.10 12.9
P/S 3.55 3.86 2.87 3.46 3.48 4.34 2.79 1.97 2.23 2.43 2.52 3.1
P/B 1.24 1.46 1.14 1.45 1.18 1.53 1.43 1.23 1.41 1.36 1.46 1.3
EV/Sales 4.64 4.99 4.75 5.00 0.47 1.72 3.83 2.56 2.59 2.94 — 3.4
EV/FCF 21.78 16.14 11.54 14.01 1.85 4.71 9.92 8.08 11.33 22.82 — 12.2
Cash, $m
Cash, $m Operating cash flow 3,500 5,579 7,840 7,363 4,659 7,214 9,083 10,111 7,880 4,384 7,897 +2.5%
Capex — — — — — (950) (50) — — — — (94.7%)
Free cash flow 3,500 5,579 7,840 7,363 4,659 7,214 9,083 10,111 7,880 4,384 7,897 +2.5%
Balance, $m
Balance, $m Working capital (25,181) (19,452) (35,730) (33,713) (44,505) (102,030) (95,387) (68,863) (84,095) (86,294) (77,365) +14.7%
Net debt 17,940 20,455 35,913 31,789 (54,995) (51,470) 24,350 18,986 12,350 14,945 49,332 (2.0%)
Shareholders’ equity 46,854 47,585 47,770 49,343 54,041 55,726 45,812 51,141 54,469 60,636 62,410 +2.9%
Returns, %
Returns, % ROA 1.01 1.35 1.33 1.08 0.62 1.06 1.02 0.92 0.98 1.16 1.26 +0.1 pt
ROIC 5.07 5.04 4.10 4.23 0.00 102.62 6.66 6.00 6.77 7.02 5.44 +1.9 pt
ROE 7.89 10.70 10.62 8.82 5.25 9.86 11.24 10.57 10.41 11.43 12.40 +3.5 pt
People
People Employees 52,006 52,906 53,063 51,918 51,257 59,426 61,545 56,411 55,184 55,333 — +0.7%
Revenue/emp, $m 0.32 0.34 0.36 0.40 0.36 0.33 0.38 0.57 0.62 0.61 — +7.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

PNC is a financial services holding company headquartered in Pittsburgh, Pennsylvania. It primarily operates through PNC Bank, a national banking association chartered in Wilmington, Delaware, alongside non-bank subsidiaries.

For consumers and businesses, PNC provides deposit accounts, credit, lending and fee-based financial services. Its Retail Banking business serves individuals, families and businesses through a coast-to-coast branch network and digital channels. Its corporate and institutional operations provide corporate banking, real estate finance, asset-based lending, treasury-related services, capital-markets activities and advisory services to companies and government entities. Its Asset Management Group provides wealth management, investment advisory and asset-management services.

The PNC Financial Services Group, Inc vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HDB HDFC Bank Limited $127.0B 16.7× — −9.36% (below 0%: shrinking) +8.11% (above 0%: growing) −1.95% (below 0%: shrinking) 64.22% 0.00% Compare
IBN ICICI Bank Limited $116.8B 18.9× — +5.71% (above 0%: growing) +25.00% (above 0%: growing) −61.24% (below 0%: shrinking) 70.90% 0.00% Compare
MFG Mizuho Financial Group, Inc. $113.1B 2.1× 12.7× +12.59% (above 0%: growing) +54.65% (above 0%: growing) +15.81% (above 0%: growing) 52.09% 0.00% Compare
USB U.S. Bancorp $93.1B 11.7× 11.2× +2.26% (above 0%: growing) +9.84% (above 0%: growing) +151.96% (above 0%: growing) 70.62% 0.00% Compare
PNC The PNC Financial Services Group, Inc $90.0B 12.1× 12.0× +6.44% (above 0%: growing) +14.22% (above 0%: growing) +15.40% (above 0%: growing) 70.11% 0.00%
LYG Lloyds Banking Group PLC $74.1B 12.0× — −67.58% (below 0%: shrinking) +66.24% (above 0%: growing) +62.30% (above 0%: growing) 100.00% 0.00% Compare
DB Deutsche Bank Aktiengesellschaft $66.2B 10.1× 9.2× +5.77% (above 0%: growing) +25.97% (above 0%: growing) +127.23% (above 0%: growing) 57.34% 0.00% Compare
NWG NatWest Group plc $63.1B 8.3× 7.9× +12.91% (above 0%: growing) +40.54% (above 0%: growing) −47.36% (below 0%: shrinking) 58.30% 0.00% Compare
TFC Truist Financial Corporation $59.7B 12.7× 11.7× −22.06% (below 0%: shrinking) −45.71% (below 0%: shrinking) +17.77% (above 0%: growing) 61.29% 0.00% Compare
Median of peers $83.6B 11.8× 11.2× +3.99% +25.49% +16.79% 62.76% 0.00%

All 327 Banks Regional stocks →

From the latest earnings call

Updated

  • On PNC’s July call, CFO Robert Reilly said he expected loan growth to continue in the second half, but at a slower rate.
  • Reilly said on the July call that lower-spread commercial loans constrained net interest margin, while continued repricing of fixed-rate assets would support income.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 82.89%
Held by the ten largest 40.10%
Holder Shares Stake Change
Vanguard 41.12m 10.31% +946.01k
BlackRock 32.17m 8.06% +196.39k
State Street 18.43m 4.62% +765.10k
Fidelity (FMR) 14.25m 3.57% −1.43m
Franklin Templeton 10.36m 2.60% −237.47k
Norges Bank 10.15m 2.54% +10.15m
Geode Capital Management 9.52m 2.39% +113.69k
Capital Group 9.31m 2.33% −1.03m
Bank of America 8.54m 2.14% +548.51k
UBS 6.12m 1.53% +811.41k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 11 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 29.50m 35.68m 167.90
2024 22.35m 33.45m 149.60
2023 19.95m 20.75m 115.60
2022 20.20m 19.14m 112.60
2021 17.51m 26.63m 138.20
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

The PNC Financial Services Group, Inc (PNC) Latest News

28 Oct

Impact 4 · · PR Newswire

22 Oct

Impact 3 · · StockStory
Impact 3 · · ACCESS Newswire
Impact 3 · · Simply Wall St.

21 Oct

Impact 4 · · ACCESS Newswire
Impact 3 · · 24/7 Wall St.

19 Oct

Impact 4 · · StockStory
Impact 3 · · StockStory
Impact 3 · · Insider Monkey
Impact 3 · · Zacks
Impact 3 · · StockStory

16 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool

15 Oct

Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 ·
Impact 3 · · Zacks
Impact 3 · · InvestorsHub
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Zacks
Impact 3 · · Bloomberg

13 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · StockStory

12 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

9 Oct

Impact 3 · · PR Newswire

8 Oct

Impact 4 · · Zacks

PNC metrics, ten years each

stockrow.com/PNC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com