PNC Financial Services
PNC NYSE Diversified Banks Financials FY2016–FY2025
PNC Financial Services' revenue rose 7.2% to $23.1 billion in fiscal 2025. Net income was $7.0 billion, up 17.5%. Its return on equity was 12.2%, up from 11.3% a year earlier. Its efficiency ratio was 59.9%, down from 62.7% a year earlier. It paid out $4.0 billion in dividends and buybacks. The diluted share count fell 1.0%.
What PNC Financial Services does
PNC is a bank holding company based in Pittsburgh, Pennsylvania, and says it is one of the largest diversified financial institutions in the United States. It has businesses in retail banking, corporate and institutional banking, and asset management. It serves individuals and businesses with deposits, loans and fee-based services, and offers specialized services for corporations and government entities, including real estate finance and asset-based lending, plus wealth management. Its retail branch network runs coast to coast, and it has offices in four other countries.
It does most of its business through PNC Bank, a national bank chartered in Wilmington, Delaware. A bank makes money mainly from the difference between interest it earns on loans and pays on deposits, plus fees. At the end of 2025, PNC's total assets were $573.6 billion and its total deposits were $440.9 billion. Its non-bank subsidiaries do market-making, securities underwriting and advisory work.
On January 5, 2026, PNC completed its purchase of FirstBank Holding Company in Colorado. At closing FirstBank had $26.4 billion of assets. PNC plans to merge FirstBank into PNC Bank. PNC is closely regulated, mainly by the Federal Reserve and the OCC, and by the CFPB and FDIC on some matters.
- Legal name
- PNC FINANCIAL SERVICES GROUP, INC.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 20, 2026
- Accession · CIK
- 0000713676-26-000020
0000713676
Revenue and margins
PNC Financial Services had $23.1B of revenue in fiscal 2025, up 7.2% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 9.6% a year. Loss periods are shown in red.
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
Dividends, buybacks and share count
PNC Financial Services returned $4.0B to shareholders in fiscal 2025. The diluted share count fell 1.0%.
Value PNC Financial Services yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Earnings multiple
Value per share
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Reference multiples: today 12.4x · peers 11.9x · sector 13.7x.
Balance sheet
Loans, deposits and capital at each fiscal year end.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | $283.5B | $321.3B | $316.7B | $312.0B | $327.1B |
| Deposits | $457.3B | $436.3B | $421.4B | $426.7B | $440.9B |
| Loans / deposits | 62.0% | 73.6% | 75.2% | 73.1% | 74.2% |
| Total assets | $557.2B | $557.3B | $561.6B | $560.0B | $573.6B |
| Shareholders' equity | $55.7B | $45.8B | $51.1B | $54.4B | $60.6B |
| Goodwill | $10.9B | $11.0B | $10.9B | $10.9B | $11.0B |
| Intangible assets | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Provision / loans | −0.3% | 0.2% | 0.3% | 0.2% | 0.2% |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
1 insider
Sold, 12 months
$27.2M
9 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Stacy M. JuchnoExecutive Vice President | Sold | 3,354 | $255.84 | $0.9M | Form 4 |
| Jul 22, 2026 | Guild DeborahExecutive Vice President | Sold | 1,200 | $252.20 | $0.3M | Form 4 |
| Jun 12, 2026 | Michael Duane ThomasExecutive Vice President | Sold | 1,500 | $238.14 | $0.4M | Form 4 |
| Jun 8, 2026 | Alexander E. C. OverstromExecutive Vice President | Sold | 1,500 | $227.97 | $0.3M | Form 4 |
| Jun 5, 2026 | Stephanie NovoselExecutive Vice President | Sold | 1,800 | $228.73 | $0.4M | Form 4 |
| May 26, 2026 | Andrew T FeldsteinDirector | Sold | 45,000 | $220.57 | $9.9M | Form 4 |
| Mar 9, 2026 | Linda R MedlerDirector | Bought | 20 | $200.38 | $0.0M | Form 4 |
| Feb 20, 2026 | William S DemchakCEO, Director | Sold | 50,000 | $230.88 | $11.5M | Form 4 |
| Feb 18, 2026 | Alexander E. C. OverstromExecutive Vice President | Sold | 2,500 | $233.91 | $0.6M | Form 4 |
| Feb 18, 2026 | Louis Robert CestelloExecutive Vice President | Sold | 4,279 | $234.01 | $1.0M | Form 4 |
| Feb 17, 2026 | Richard Kevin BynumExecutive Vice President | Sold | 7,407 | $230.98 | $1.7M | Form 4 |
| Nov 4, 2025 | Michael Duane ThomasExecutive Vice President | Sold | 1,000 | $183.57 | $0.2M | Form 4 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| PNC Financial Services PNC | $88.9B | 7.2% | — | — | — | 12.4x | — | |
| Truist Financial TFC | $63.1B | 53.0% | — | — | — | 11.1x | — | Compare → |
| U.S. Bancorp USB | $92.8B | 4.4% | — | — | — | 11.9x | — | Compare → |
| Wells Fargo WFC | $267.1B | 1.7% | — | — | — | 12.0x | — | Compare → |
| Citigroup C | $225.9B | 5.6% | — | — | — | 17.3x | — | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $15.2B | $16.3B | $16.2B | $16.8B | $16.9B | $19.2B | $21.1B | $21.5B | $21.6B | $23.1B |
| Net interest income | $8.4B | $9.1B | $9.7B | $10.0B | $9.9B | $10.6B | $13.0B | $13.9B | $13.5B | $14.4B |
| Noninterest income | $6.8B | $7.2B | $6.5B | $6.9B | $7.0B | $8.6B | $8.1B | $7.6B | $8.1B | $8.7B |
| Noninterest expense | $9.5B | $10.4B | $10.3B | $10.6B | $10.3B | $13.0B | $13.2B | $14.0B | $13.5B | $13.8B |
| Provision for credit losses | $433M | $441M | $408M | $773M | $3.0B | −$887M | $439M | $792M | $741M | $660M |
| Pretax income | $5.3B | $5.5B | $5.5B | $5.5B | $3.4B | $7.0B | $7.5B | $6.7B | $7.2B | $8.5B |
| Income tax | $1.3B | $102M | $928M | $901M | $426M | $1.3B | $1.4B | $1.1B | $1.3B | $1.5B |
| Net income | $4.0B | $5.4B | $5.3B | $5.4B | $7.6B | $5.7B | $6.1B | $5.6B | $6.0B | $7.0B |
| Net income to common | $3.7B | $5.1B | $4.3B | $4.3B | $2.7B | $5.4B | $5.7B | $5.1B | $5.5B | $6.6B |
| Diluted EPS | $7.30 | $10.36 | $10.71 | $11.39 | $16.96 | $12.70 | $13.85 | $12.79 | $13.74 | $16.59 |
| Diluted shares | 0.50B | 0.49B | 0.47B | 0.45B | 0.43B | 0.43B | 0.41B | 0.40B | 0.40B | 0.40B |
| Cash flow | ||||||||||
| Stock-based compensation | $200M | $200M | — | — | — | — | — | — | — | — |
| Share buybacks | $2.1B | $2.4B | $2.9B | $3.6B | $1.6B | $1.1B | $3.7B | $651M | $687M | $1.3B |
| Dividends paid | $1.1B | $1.3B | $1.6B | $1.9B | $2.0B | $2.1B | $2.4B | $2.5B | $2.5B | $2.6B |
| Dividends and buybacks | $3.1B | $3.7B | $4.5B | $5.5B | $3.6B | $3.1B | $6.1B | $3.1B | $3.2B | $4.0B |
| Balance sheet | ||||||||||
| Loans, net | $208.2B | $217.8B | $223.6B | $237.1B | $236.6B | $283.5B | $321.3B | $316.7B | $312.0B | $327.1B |
| Deposits | $257.2B | $265.1B | $267.8B | $288.5B | $365.3B | $457.3B | $436.3B | $421.4B | $426.7B | $440.9B |
| Goodwill | $9.1B | $9.2B | $9.2B | $9.2B | $9.2B | $10.9B | $11.0B | $10.9B | $10.9B | $11.0B |
| Intangible assets | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Total assets | $366.4B | $380.8B | $382.3B | $410.3B | $466.7B | $557.2B | $557.3B | $561.6B | $560.0B | $573.6B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $45.7B | $47.5B | $47.7B | $49.3B | $54.0B | $55.7B | $45.8B | $51.1B | $54.4B | $60.6B |
| Margins | ||||||||||
| Net margin | 26.3% | 33.0% | 33.0% | 32.2% | 44.7% | 29.8% | 28.9% | 26.3% | 27.6% | 30.3% |
| Net interest share of revenue | 55.3% | 55.8% | 60.0% | 59.2% | 58.9% | 55.4% | 61.6% | 64.8% | 62.6% | 62.4% |
| Efficiency ratio | 62.5% | 63.7% | 63.6% | 62.8% | 60.9% | 67.7% | 62.4% | 65.2% | 62.7% | 59.9% |
| Returns | ||||||||||
| Return on equity | 8.8% | 11.6% | 11.2% | 11.2% | 14.6% | 10.4% | 12.1% | 11.7% | 11.3% | 12.2% |
| Return on assets | 1.1% | 1.4% | 1.4% | 1.4% | 1.7% | 1.1% | 1.1% | 1.0% | 1.1% | 1.2% |
| Return on tangible equity | 10.2% | 13.5% | 11.1% | 10.9% | 6.4% | 12.1% | 14.4% | 13.7% | 13.1% | 14.1% |
| Growth | ||||||||||
| Revenue growth | −0.4% | 7.7% | −0.9% | 4.0% | 0.4% | 13.7% | 9.9% | 1.8% | 0.3% | 7.2% |
| Net income growth | −3.8% | 35.2% | −0.8% | 1.4% | 39.5% | −24.3% | 6.8% | −7.6% | 5.4% | 17.5% |
| EPS growth | −1.2% | 41.9% | 3.4% | 6.4% | 48.9% | −25.1% | 9.1% | −7.7% | 7.4% | 20.7% |
| Share count change | −4.0% | −2.8% | −3.3% | −4.7% | −4.7% | −0.2% | −3.3% | −2.7% | −0.3% | −1.0% |
| Financial health | ||||||||||
| Loans / deposits | 81.0% | 82.2% | 83.5% | 82.2% | 64.8% | 62.0% | 73.6% | 75.2% | 73.1% | 74.2% |
| Provision / loans | 0.2% | 0.2% | 0.2% | 0.3% | 1.3% | −0.3% | 0.2% | 0.3% | 0.2% | 0.2% |
| Capital allocation | ||||||||||
| Stock comp / revenue | 1.3% | 1.2% | — | — | — | — | — | — | — | — |
Source: SEC EDGAR XBRL filings (CIK 0000713676). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.