The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The Retail Banking segment offers checking, savings, and money market accounts, and time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. This segment serves consumer and small business customers through a network of branches, digital channels, ATMs, and through phone-based customer contact centers. The Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; cash and investment management, receivables and disbursement management, funds transfer, international payment, and access to online/mobile information management and reporting services; asset-backed financing, securities underwriting, loan syndications, mergers and acquisitions and equity capital markets advisory, and customer related services; and commercial loan servicing and technology solutions. It serves mid-sized and large corporations, and government and not-for-profit entities. The Asset Management Group segment offers investment and retirement planning, customized investment management, credit and cash management solutions, and trust management and administration services for high net worth and ultra high net worth individuals, and their families; and multi-generational family planning services. It also offers outsourced chief investment officer, custody, cash and fixed income client solutions, and retirement plan fiduciary investment services for institutional clients. The company was founded in 1865 and is headquartered in Pittsburgh, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $23.1B | - | $6.9B | $4.4B | 11.4% | 10.9% | 17.8% |
| 2024 | $20.8B | - | $5.9B | $7.9B | 10.8% | -3.3% | 5.6% |
| 2023 | $21.5B | - | $5.6B | $10.1B | 10.9% | 1.9% | -7.7% |
| 2022 | $21.1B | - | $6.0B | $9.1B | 13.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 21,114 | 21,509 | 20,809 | 23,077 |
| Operating Revenue | - | 21,114 | 21,509 | 20,809 | 23,077 |
| Selling General And Administration | - | 7,599 | 7,778 | 7,664 | 8,160 |
| Interest Income | - | 15,436 | 24,308 | 26,384 | 25,307 |
| Interest Expense | - | 2,422 | 10,392 | 12,885 | 10,897 |
| Net Interest Income | - | 13,014 | 13,916 | 13,499 | 14,410 |
| Pretax Income | - | 7,473 | 6,736 | 7,242 | 8,486 |
| Tax Provision | - | 1,360 | 1,089 | 1,289 | 1,489 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -83.43 | 114.27 | 18.95 |
| Net Income Continuous Operations | - | 6,113 | 5,647 | 5,953 | 6,997 |
| Net Income From Continuing And Discontinued Operation | - | 6,041 | 5,578 | 5,889 | 6,936 |
| Net Income From Continuing Operation Net Minority Interest | - | 6,041 | 5,578 | 5,889 | 6,936 |
| Net Income | - | 6,041 | 5,578 | 5,889 | 6,936 |
| Net Income Common Stockholders | - | 5,708 | 5,126 | 5,496 | 6,576 |
| Net Income Including Noncontrolling Interests | - | 6,113 | 5,647 | 5,953 | 6,997 |
| Normalized Income | - | 6,041 | 6,009.57 | 5,361.27 | 6,846.95 |
| Diluted NI Availto Com Stockholders | - | 5,708 | 5,126 | 5,496 | 6,576 |
| Basic Average Shares | - | 412 | 401 | 399 | 396 |
| Diluted Average Shares | - | 412 | 401 | 400 | 396 |
| Reconciled Depreciation | - | 651 | 217 | 259 | 381 |
| Total Unusual Items | - | - | -515 | 642 | 108 |
| Total Unusual Items Excluding Goodwill | - | - | -515 | 642 | 108 |
| Preferred Stock Dividends | - | 301 | 417 | 352 | 308 |
| Minority Interests | - | -72 | -69 | -64 | -61 |
| Special Income Charges | - | - | -515 | 642 | 108 |
| Other Special Charges | - | - | 515 | -642 | -108 |
| Gain On Sale Of Security | - | -13 | 17 | -492 | -31 |
| General And Administrative Expense | - | 7,244 | 7,428 | 7,302 | 7,782 |
| Salaries And Wages | - | 7,244 | 7,428 | 7,302 | 7,782 |
| Selling And Marketing Expense | - | 355 | 350 | 362 | 378 |
| Otherunder Preferred Stock Dividend | - | 32 | 35 | 41 | 52 |
| Occupancy And Equipment | - | 2,387 | 2,393 | 2,481 | 2,568 |
| Other Non Interest Expense | - | 3,184 | 3,326 | 3,267 | 3,214 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The PNC Financial Services Group, Inc.this co. | PNC | $91.2B | 13.87β discount | 1.51 | 10.9% | - |
| The Bank of New York Mellon Corporation | BK | $94.1B | 16.97 | 2.38 | 14.1% | - |
| CME Group Inc. | CME | $92.5B | 22.72 | 3.22 | 14.2% | 15.69 |
| KKR & Co. Inc. | KKR | $89.0B | 37.55 | 3.14 | 8.4% | 12.45 |
| U.S. Bancorp | USB |
| 2021 | - | - | - | - | - | - | - |
| $86.0B |
| 11.96 |
| 1.32 |
| 11.0% |
| - |
| Intercontinental Exchange, Inc. | ICE | $80.3B | 24.23 | 2.78 | 11.5% | 14.46 |
| Robinhood Markets, Inc. | HOOD | $79.5B | 42.24 | 8.70 | 20.6% | 39.87 |
| Moody's Corporation | MCO | $78.5B | 31.91 | 19.35 | 60.7% | 21.44 |
| Marsh & McLennan Companies, Inc. | MRSH | $77.7B | 18.68 | 5.15 | 27.5% | 13.02 |
| Peer Median | - | 23.48 | 3.18 | 14.1% | 15.07 | |