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U.S. Bancorp

USB Financial Banks Regional

U.S. Bancorp’s revenue for fiscal 2025 (year ended December 2025) was $42.9 billion, roughly unchanged from fiscal 2024. In the quarter to September 2026, revenue grew 2.26%, EPS grew 16.2%, free cash flow grew 152.0% and total debt fell 16.9%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for three.

58.60 1.21 +2.11%
Market cap
$89.4B
P/E
11.3×
Fwd P/E
10.9×
Dividend yield
3.58%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 12.64
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 2 — 1 1 — 2 1 — —
Insider Ownership 0.51%

Capital & Financial Ratios $m

Market Cap 89,420.00
Revenue 43,988.00
Net Income 8,168.00
Free Cash Flow 12,525.00
Net Debt 2,473.00
Current Ratio 0.83
Debt/Equity 0.78
P/E ratio 11.25
Fwd P/E 10.90
P/S ratio 2.08
P/B ratio 1.52
Past 5Y EPS Growth 8.59%
This Y EPS Growth 13.92%
Next Y EPS Growth 11.22%
Next Y revenue growth (27.50%) (below 0%: weak)
Next 5Y EPS Growth 11.60%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 25.18%
10-year low 10-year high
P/S against its own 10 years 33.43%
10-year low 10-year high
P/B against its own 10 years 39.40%
10-year low 10-year high

Dividends

Payout Ratio 0.40
Annual Dividend Rate 2.10
Annual Dividend Yield 3.58%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.12
0.52
0.52
0.54
2025 2.04
0.50
0.50
0.52
0.52
2024 1.98
0.49
0.49
0.50
0.50
2023 1.93
0.48
0.48
0.48
0.49
2022 1.88
0.46
0.46
0.48
0.48
2021 1.76
0.42
0.42
0.46
0.46
2020 1.68
0.42
0.42
0.42
0.42
2019 1.58
0.37
0.37
0.42
0.42
2018 1.34
0.30
0.30
0.37
0.37
2017 1.16
0.28
0.28
0.30
0.30
2016 1.07
0.26
0.26
0.28
0.28
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 61,192 56,502 46,890 49,523
Receivables — — — —
Inventory — — — —
Other — — — —
429,849 431,324 433,158 459,381
2023 2024 2025 Q'26
Payables 512,312 518,309 522,216 531,705
ST’ Debt — — — —
Other — — — —
527,591 533,827 539,378 552,749

Compound Annual Growth %

10y 5y 3y
Sales 7.15% 11.17% 16.08%
Cash Flow (0.97%) 16.49% (27.73%)
Earnings 2.52% 9.26% 9.36%
Book Value 3.44% 4.09% 8.62%

Revenue $m

Mar Jun Sep Dec Year
’26 10,835 10,923 11,254 — —
’25 10,352 10,528 11,005 10,976 42,861
’24 10,464 10,800 10,784 10,664 42,712
’23 9,471 10,252 10,518 10,383 40,624
’22 5,814 6,373 7,197 8,017 27,401
’21 5,722 6,001 6,102 5,889 23,714
’20 6,641 6,286 6,285 6,029 25,241
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,340 4,820 — — —
’25 (308) 1,913 3,529 2,836 7,970
’24 2,661 2,874 972 4,843 11,350
’23 842 3,316 3,873 362 8,393
’22 8,477 2,249 3,505 6,888 21,119
’21 937 5,583 2,647 703 9,870
’20 2,354 (853) 3,284 (1,069) 3,716
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,340 4,820 — — —
’25 (308) 1,913 3,529 2,836 7,970
’24 2,661 2,874 972 4,843 11,350
’23 842 3,316 3,873 362 8,393
’22 8,477 2,249 3,505 6,888 21,119
’21 937 5,583 2,647 703 9,870
’20 2,354 (853) 3,284 (1,069) 3,716
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.18 1.35 1.42 — —
’25 1.03 1.11 1.22 1.26 4.62
’24 0.78 0.97 1.03 1.01 3.79
’23 1.04 0.84 0.91 0.49 3.27
’22 0.99 0.99 1.16 0.57 3.69
’21 1.45 1.28 1.30 1.07 5.10
’20 0.72 0.41 0.99 0.95 3.06
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 37.07 49.54 43.14 45.05 28.36 42.47 38.39 27.27 37.81 35.18

Analyst estimates 2026–2028

Powerpack
High 52.68 56.61 58.50 61.11 59.48 63.01 63.57 49.95 53.98 55.15
People
People Employees 71,191 72,402 73,333 69,651 68,108 68,796 78,192 75,465 70,263 68,520
Revenue/emp, $m 0.31 0.33 0.35 0.39 0.37 0.34 0.35 0.54 0.61 0.63
Income, $m
Income, $m Revenue 22,424 23,663 25,775 27,325 25,241 23,714 27,401 40,624 42,712 42,861
Gross margin, % 93.45 91.69 87.38 83.74 92.02 95.81 88.26 68.96 64.00 66.59
EBT 8,105 7,517 8,678 8,594 6,051 10,166 7,301 6,865 7,909 9,517
EBT margin, % 36.14 31.77 33.67 31.45 23.97 42.87 26.65 16.90 18.52 22.20
Net income 5,888 6,218 7,096 6,914 4,959 7,963 5,825 5,429 6,299 7,570
Depreciation 470 468 467 502 527 497 560 1,018 939 875
Per share, $
Per share, $ Revenue 13.05 14.11 15.77 17.28 16.73 15.93 18.40 26.33 27.38 27.53
Earnings 3.25 3.53 4.15 4.16 3.06 5.11 3.69 3.27 3.79 4.62
Cash flow 3.11 3.86 6.47 3.09 2.46 6.63 14.18 5.44 7.28 5.12
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow 3.11 3.86 6.47 3.09 2.46 6.63 14.18 5.44 7.28 5.12
Book value 27.90 29.62 31.61 33.20 35.60 37.20 34.41 36.14 37.85 42.17
Shares, m 1,718 1,677 1,634 1,581 1,509 1,489 1,489 1,543 1,560 1,557
Valuation, ×
Valuation, × P/E 15.79 15.31 11.01 14.22 15.18 10.99 12.03 13.39 12.62 11.55
P/S 3.94 3.83 2.90 3.43 2.79 3.53 2.43 1.67 1.75 1.94
P/B 2.08 2.05 1.64 2.02 1.47 1.71 1.50 1.38 1.43 1.41
EV/Sales 4.73 4.37 3.67 4.08 1.94 3.66 1.93 1.43 1.78 2.26
EV/FCF 19.87 15.97 8.95 22.81 13.19 8.80 2.50 6.92 6.71 12.17
Cash, $m
Cash, $m Operating cash flow 5,336 6,472 10,564 4,889 3,716 9,870 21,119 8,393 11,350 7,970
Capex — — — — — — — — — —
Free cash flow 5,336 6,472 10,564 4,889 3,716 9,870 21,119 8,393 11,350 7,970
Balance, $m
Balance, $m Working capital (58,628) (64,300) (53,268) (65,574) (79,802) (124,895) (119,173) (97,742) (102,503) (106,220)
Total debt 33,323 32,259 41,340 40,167 41,297 32,125 39,829 51,480 58,002 60,764
Net debt 17,618 12,754 19,887 17,762 (21,283) 3,220 (13,713) (9,712) 1,500 13,874
Shareholders’ equity 47,933 49,666 51,657 52,483 53,725 55,387 51,232 55,771 59,040 65,651
Returns, %
Returns, % ROA 1.29 1.30 1.46 1.37 0.88 1.35 0.88 0.75 0.88 1.05
ROIC 7.73 7.53 7.58 7.65 11.66 10.84 12.71 10.68 8.33 7.48
ROE 13.35 13.64 15.09 14.28 9.81 15.72 11.77 10.82 11.68 12.95
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 16 Oct 2026

Charts ten years each

U.S. Bancorp 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
MFG Mizuho Financial Group, Inc. $124.4B 2.3× 13.9× +12.59% (above 0%: growing) +54.65% (above 0%: growing) +15.81% (above 0%: growing) 52.09% 0.00% Compare
HDB HDFC Bank Limited $120.9B 16.0× — −9.36% (below 0%: shrinking) +8.11% (above 0%: growing) −1.95% (below 0%: shrinking) 64.22% 0.00% Compare
IBN ICICI Bank Limited $105.7B 18.5× — −3.19% (below 0%: shrinking) +2.33% (above 0%: growing) −61.24% (below 0%: shrinking) 71.06% 0.00% Compare
USB U.S. Bancorp $89.4B 11.3× 10.9× +2.26% (above 0%: growing) +16.16% (above 0%: growing) +151.96% (above 0%: growing) 70.62% 0.00%
PNC The PNC Financial Services Group, Inc $85.8B 11.4× 12.4× +6.44% (above 0%: growing) +19.94% (above 0%: growing) +45.07% (above 0%: growing) 70.11% 0.00% Compare
LYG Lloyds Banking Group PLC $78.4B 15.5× — −67.58% (below 0%: shrinking) +413.83% (above 0%: growing) +62.30% (above 0%: growing) 100.00% 0.00% Compare
NU Nu Holdings Ltd. $71.2B 19.7× 14.5× +50.29% (above 0%: growing) +69.23% (above 0%: growing) −102.15% (below 0%: shrinking) 71.77% 0.00% Compare
NWG NatWest Group plc $69.2B 9.9× 8.4× +14.08% (above 0%: growing) +77.78% (above 0%: growing) −47.36% (below 0%: shrinking) 59.01% 0.00% Compare
DB Deutsche Bank Aktiengesellschaft $61.8B 7.6× 8.4× +5.77% (above 0%: growing) +160.96% (above 0%: growing) +127.23% (above 0%: growing) 57.34% 0.00% Compare
Median of peers $82.1B 13.4× 12.4× +6.11% +61.94% +6.93% 67.17% 0.00%

All 323 Banks Regional stocks →

USB metrics, ten years each

U.S. Bancorp (USB) key facts

  • U.S. Bancorp (USB) is a Banks Regional company in the Financial sector, listed on the New York Stock Exchange.
  • U.S. Bancorp’s revenue for fiscal 2025 (year ended December 2025) was $42.9 billion, roughly unchanged from fiscal 2024.
  • As of October 16, 2026, USB traded at $58.60, a market capitalization of $89.4 billion.
  • U.S. Bancorp pays an annual dividend of $2.10 per share, a yield of 3.58%, with a payout ratio of 40.3%.
  • Return on equity was 13.0% and debt-to-equity 0.78.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 16, 2026.

U.S. Bancorp (USB) Latest News

16 Oct

Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

15 Oct

Impact 4 · transcript
Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 4 · earnings
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 2 ·

13 Oct

Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 2 ·
Impact 2 · earnings

12 Oct

Impact 3 ·
Impact 3 ·

9 Oct

Impact 3 ·
Impact 2 ·

8 Oct

Impact 3 ·

7 Oct

Impact 3 ·
stockrow.com/USB · Data as of Oct 16, 2026 · For information only; not investment advice. · © 2026 stockrow.com