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Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through two segments, Consumer and Small Business Banking; and Wholesale Banking. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts. The company also provides funding; asset management; credit card lending; home equity and mortgage lending; other direct retail lending; home mortgage lending; Investment brokerage services; mobile/online banking; payment solutions; point-of-sale lending; retail and small business deposit products; and small business lending. In addition, it offers asset-based lending, commercial deposit and treasury services; commercial lending; floor plan lending; derivatives; institutional trust services; insurance premium finance; international banking; investment banking and capital markets services; leasing; merchant services; mortgage warehouse lending; real estate lending; supply chain financing; and wealth management/private banking. The company was formerly known as BB&T Corporation and changed its name to Truist Financial Corporation in December 2019. Truist Financial Corporation was founded in 1872 and is headquartered in Charlotte, North Carolina.
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 | $20.3B | - | $5.3B | $5.7B | 8.8% | 53.0% | 10.1% |
| 2024 | $13.3B | - | $4.8B | $2.2B | 8.3% | -33.7% | -541.6% |
| 2023 | $20.0B | - | $-1.1B | $8.6B | -2.1% | 0.2% | -117.4% |
| 2022 | $20.0B | - | $6.3B | $11.1B | 11.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 19,973 | 20,022 | 13,278 | 20,319 |
| Operating Revenue | - | 19,973 | 20,022 | 13,278 | 20,319 |
| Selling General And Administration | - | 6,879 | 7,025 | 6,855 | 7,147 |
| Interest Income | - | 16,634 | 24,452 | 25,066 | 24,542 |
| Interest Expense | - | 2,321 | 9,928 | 10,975 | 10,119 |
| Net Interest Income | - | 14,313 | 14,524 | 14,091 | 14,423 |
| Pretax Income | - | 7,029 | -765 | -601 | 6,349 |
| Tax Provision | - | 1,250 | 738 | -556 | 1,042 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -82.95 | -1,276.38 | -25.20 | -46.90 |
| Net Income Continuous Operations | - | 5,779 | -1,503 | -45 | 5,307 |
| Net Income From Continuing And Discontinued Operation | - | 6,260 | -1,091 | 4,818 | 5,307 |
| Net Income From Continuing Operation Net Minority Interest | - | 5,772 | -1,547 | -67 | 5,307 |
| Net Income | - | 6,260 | -1,091 | 4,818 | 5,307 |
| Net Income Common Stockholders | - | 5,927 | -1,452 | 4,469 | 4,974 |
| Net Income Including Noncontrolling Interests | - | 6,267 | -1,047 | 4,840 | 5,307 |
| Normalized Income | - | 6,155.05 | 3,254.62 | 27.80 | 5,546.10 |
| Diluted NI Availto Com Stockholders | - | 5,927 | -1,452 | 4,469 | 4,974 |
| Basic Average Shares | - | 1,328.12 | 1,331.96 | 1,331.09 | 1,286.79 |
| Diluted Average Shares | - | 1,338.46 | 1,339.90 | 1,331.09 | 1,302.70 |
| Reconciled Depreciation | - | 1,366 | 1,215 | 979 | 837 |
| Total Unusual Items | - | -466 | -6,078 | -120 | -286 |
| Total Unusual Items Excluding Goodwill | - | -466 | -6,078 | -120 | -286 |
| Preferred Stock Dividends | - | 333 | 361 | 349 | 333 |
| Minority Interests | - | -7 | -44 | -22 | 0 |
| Net Income Discontinuous Operations | - | 488 | 456 | 4,885 | 0 |
| Special Income Charges | - | -466 | -6,078 | -120 | -286 |
| Gain On Sale Of Business | 37 | - | - | - | - |
| Other Special Charges | - | - | 507 | 64 | 130 |
| Impairment Of Capital Assets | - | 0 | 6,078 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 466 | 750 | 120 | 156 |
| Gain On Sale Of Security | - | -71 | 0 | -6,651 | -19 |
| Depreciation Amortization Depletion Income Statement | - | 639 | 395 | 345 | 290 |
| Depreciation And Amortization In Income Statement | - | 639 | 395 | 345 | 290 |
| General And Administrative Expense | - | 6,558 | 6,765 | 6,587 | 6,848 |
| Salaries And Wages | - | 6,558 | 6,765 | 6,587 | 6,848 |
| Selling And Marketing Expense | - | 321 | 260 | 268 | 299 |
| Amortization | - | 455 | 395 | 345 | 290 |
| Amortization Of Intangibles Income Statement | - | 455 | 395 | 345 | 290 |
| Occupancy And Equipment | - | 1,139 | 1,113 | 1,068 | 1,061 |
| Depreciation Income Statement | 190 | 184 | 175 | 144 | - |
| Professional Expense And Contract Services Expense | - | 1,322 | 1,194 | 1,342 | 1,420 |
| Other Non Interest Expense | - | 1,722 | 2,873 | 2,279 | 1,872 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Truist Financial Corporationthis co. | TFC | $61.3B | 11.55↓ discount | 1.02 | 8.8% | - |
| Apollo Global Management, Inc. | APO | $74.0B | 21.20 | 3.37 | 15.9% | 8.04 |
| Aon plc | AON | $68.8B | 18.63 | 7.36 | 39.5% | 12.80 |
| The Travelers Companies, Inc. | TRV | $62.4B | 10.00 | 1.90 | 19.0% | - |
| Aflac Incorporated | AFL |
| - |
| - |
| - |
| - |
| - |
| - |
| $58.7B |
| 16.09 |
| 1.99 |
| 12.4% |
| - |
| The Allstate Corporation | ALL | $54.3B | 5.28 | 1.90 | 35.9% | - |
| Arthur J. Gallagher & Co. | AJG | $54.2B | 36.29 | 2.32 | 6.4% | 18.26 |
| MetLife, Inc. | MET | $53.7B | 15.89 | 1.89 | 11.9% | - |
| Nasdaq, Inc. | NDAQ | $50.0B | 27.98 | 4.09 | 14.6% | 18.81 |
| Peer Median | - | 17.36 | 2.16 | 15.3% | 15.53 | |