US Bancorp de
USB · NYSENational Commercial Banks · Fiscal year ends Dec 31
US Bancorp de reported revenue of $28.7B in the fiscal year ended Dec 2025, up 4.4% from the year before. Net income was $7.6B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | – | $24.3B | $28.1B | $27.5B | $28.7B |
| Net interest incomeBanks | $12.5B | $14.7B | $17.4B | $16.3B | $16.6B |
| Interest expense | $993M | $3.2B | $12.6B | – | – |
| Pre-tax income | $10.2B | $7.3B | $6.9B | $7.9B | $9.5B |
| Income tax | $2.2B | $1.5B | $1.4B | $1.6B | $1.9B |
| Net income | $8B | $5.8B | $5.4B | $6.3B | $7.6B |
| Diluted EPS | 5.10 | 3.69 | 3.27 | 3.79 | 4.62 |
| Diluted shares | 1,490M | 1,490M | 1,543M | 1,561M | 1,558M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $28.9B | $53.5B | $61.2B | $56.5B | $46.9B |
| Net PP&E | $3.3B | $3.9B | – | – | – |
| Goodwill | $10.3B | $12.4B | $12.5B | $12.5B | $12.6B |
| Total assets | $573B | $675B | $663B | $678B | $692B |
| Short-term debt | $11.8B | $31.2B | $15.3B | $15.5B | $17.2B |
| Long-term debt | $32.1B | $39.8B | – | – | – |
| DepositsBanks | $456B | $525B | $512B | $518B | $522B |
| Total liabilities | $518B | $624B | $608B | $619B | $627B |
| Shareholders' equity | $54.9B | $50.8B | $55.3B | $58.6B | $65.2B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $9.9B | $21.1B | $8.4B | $11.4B | $8B |
| Stock-based compensation | $207M | $202M | $224M | $232M | $235M |
| Share buybacks | $1.6B | $69M | $62M | $173M | $489M |
| Dividends paid | $2.6B | $2.8B | $3B | $3.1B | $3.2B |
| Dividend per share | 1.76 | 1.88 | 1.93 | 1.98 | 2.04 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | 15.8% | −2.4% | 4.4% |
| EPS growth (YoY) | – | −27.6% | −11.4% | 15.9% | 21.9% |
| Net margin | – | 24.0% | 19.3% | 22.9% | 26.4% |
| Return on equityBlank when equity is negative | 14.5% | 11.5% | 9.8% | 10.8% | 11.6% |
| Cash conversion (CFO ÷ net income) | 1.24x | 3.63x | 1.55x | 1.80x | 1.05x |
| Debt ÷ equity | 0.80x | 1.40x | – | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $15B | $17.5B | – | – | – |
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.