PNC Financial Services (PNC)
Financials · $92.7B market cap · SEC CIK 0000713676
fundamentals score out of 100
Next reports on Oct 15, 2026, before the open, with analysts expecting $4.97 in earnings per share.
The case for PNC
- Cheap on earnings at 12.2×, well under the market's usual 20×.
- 29% of revenue drops through to net profit.
- Pays a 4.8% dividend while you wait.
- A PEG of 0.53: a P/E of 12.2× is low for EPS growing 23%.
The case against
- Weakest against its peers: return on equity of 12% is lower than 67% of Financials companies.
- Its weakest area is growth (50/100): EPS +22.8%, +7.4% a year over five years.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 69 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 50 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 67 |
| Momentumhow the price has behaved lately | 59 |
| Stabilityhow violently it moves, what it owes and what it pays you | 70 |
- Its one-year revenue change (+72%) is far out of line with its five-year trend (+7% a year). In the Financials sector that is usually interest income swinging with rates rather than growth, so only the five-year figure is used.
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 12.2× |
|---|---|
| Price / book | 1.53× |
| Price / sales | 2.3× |
| Revenue growth (YoY) | +72.3% (not used: out of line with the five-year +7.4% a year) |
| EPS growth (YoY) | +22.8% |
| Gross margin | — |
| Operating margin | 35% |
| Net margin | 29% |
| Return on equity | 12% |
| Debt / equity | 0.71× |
| Current ratio | n/a |
| Dividend yield | 4.82% |
| Beta | 0.92 |
| 52-week range | $176.88 – $258.96 |
| Position in that range | 62% of the way up |
| 3-month return | +0.5% |
| 1-year return | +13.5% |
Five years of financials, as filed
Pulled from PNC Financial Services's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $23.1B | $21.6B | $21.5B | $21.1B | $19.2B |
| Operating cash flow | $4.4B | $7.9B | $10.1B | $9.1B | $7.2B |
| Total assets | $574B | $560B | $562B | $557B | $557B |
| Total liabilities | $513B | $506B | $510B | $511B | $501B |
| Shareholder equity | $60.6B | $54.4B | $51.1B | $45.8B | $55.7B |
| Cash | $39.7B | $46.3B | $50.7B | $34.4B | $82.3B |
| Long-term debt | $57.1B | $61.7B | $72.7B | $58.7B | — |
| Diluted shares | 396M | 400M | 401M | 412M | 426M |
Share count is down 7.0% over 4 years. Buybacks have been shrinking the pie.
What PNC Financial Services says it does
, the Liquidity and Capital Management portion of the Risk Management section of this Item 7 and Note 19 Regulatory Matters for additional information regarding our 2025 liquidity and capital activities. See Note 9 Borrowed Funds for additional information related to our borrowings. See the Average Consolidated Balance Sheet and Net Interest Analysis and Analysis of Year-to-Year Changes in Net Interest Income sections of this Item 7 for additional information on year-over-year volume and related funding cost changes. Shareholders’ Equity Total shareholders’ equity of $60.6 billion at December 31, 2025 increased $6.2 billion compared to December 31, 2024, primarily due to the benefit of net income of $7.0 billion and an improvement in AOCI of $3.2 billion, partially offset by dividends paid of $3.0 billion and common share repurchases of $1.2 billion. B USINESS S EGMENTS R EVIEW We have three reportable business segments: Retail…
Risk factors PNC lists in its 10-K
- Stress Testing and Capital Planning
- Regulatory Liquidity Standards and Liquidity Risk Management Requirements
- Additional Powers Under the GLB Act
- Federal Reserve and OCC Supervision and Enforcement
- Extensions of Credit to Executive Officers, Directors, or Principal Shareholders
- Debit Card Interchange Fees and Transaction Processing
- The Bank Secrecy Act and Economic Sanctions
- Executive and Incentive Compensation
- Securities and Derivatives Regulation
- Recruiting, developing and retaining talent
- Risks Related to the Economy and Other External Factors, Including Regulation
- Our business and financial performance are vulnerable to the impact of adverse economic conditions
- The impact of government legislation, regulation and policy and other political factors on the economy could have an adverse effect on our business and financial performance
- The policies of the Federal Reserve and other governmental agencies have a significant impact on interest rates and overall financial market performance, which are important to our business and financial performance