PNC Financial Services
PNC · NYSENational Commercial Banks · Fiscal year ends Dec 31
PNC Financial Services reported revenue of $23.1B in the fiscal year ended Dec 2025, up 7.2% from the year before. Net income was $7B. Net debt was $17.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $19.2B | $21.1B | $21.5B | $21.6B | $23.1B |
| Net interest incomeBanks | $10.6B | $13B | $13.9B | $13.5B | $14.4B |
| Interest expense | $487M | $2.4B | $10.4B | – | – |
| Pre-tax income | $7B | $7.5B | $6.7B | $7.2B | $8.5B |
| Income tax | $1.3B | $1.4B | $1.1B | $1.3B | $1.5B |
| Net income | $5.7B | $6.1B | $5.6B | $6B | $7B |
| Diluted EPS | 12.70 | 13.85 | 12.79 | 13.74 | 16.59 |
| Diluted shares | 426M | 412M | 401M | 400M | 396M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $82.3B | $34.4B | $50.7B | $46.3B | $39.7B |
| Net PP&E | $8.6B | $8.8B | $8.5B | $8.7B | $8.9B |
| Goodwill | $10.9B | $11B | $10.9B | $10.9B | $11B |
| Total assets | $557B | $557B | $562B | $560B | $574B |
| Long-term debt | – | $58.7B | $72.7B | $61.7B | $57.1B |
| DepositsBanks | $457B | $436B | $421B | $427B | $441B |
| Total liabilities | $501B | $511B | $510B | $506B | $513B |
| Shareholders' equity | $55.7B | $45.8B | $51.1B | $54.4B | $60.6B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $7.2B | $9.1B | $10.1B | $7.9B | $4.4B |
| Depreciation & amortisation | $1.1B | $1.1B | $1.1B | $259M | $381M |
| Acquisitions | $10.5B | – | – | – | – |
| Share buybacks | $1.1B | $3.7B | $651M | $687M | $1.3B |
| Dividends paid | $2.1B | $2.4B | $2.5B | $2.5B | $2.6B |
| Dividend per share | 4.80 | 5.75 | 6.10 | 6.30 | 6.60 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 9.9% | 1.8% | 0.3% | 7.2% |
| EPS growth (YoY) | – | 9.1% | −7.7% | 7.4% | 20.7% |
| Net margin | 29.8% | 28.9% | 26.3% | 27.6% | 30.3% |
| Return on equityBlank when equity is negative | 10.3% | 13.4% | 11.0% | 10.9% | 11.5% |
| Cash conversion (CFO ÷ net income) | 1.26x | 1.49x | 1.79x | 1.32x | 0.63x |
| Debt ÷ equity | – | 1.28x | 1.42x | 1.13x | 0.94x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | $24.4B | $22B | $15.4B | $17.4B |
Recent filings
More in National Commercial Banks
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.